Agents, Managers for Artists, Athletes, Entertainers, Public Figures.

By Frank Kennedy

Introduction

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• With the rise of influencers, athletes’ contracts getting higher, as well as now college athletes being able to get sponsors, there is no doubt a massive need managers and agents alike for personal that fit into this criterion. However not every person of interest needs a major firm. The smaller business in the field now has the potential to grow and expand into a large market of new people.

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Competitor Analysis

• As new markets continue to appear in this market, new companies and competitors do as well, showing constant increases in all sections instead of start up (which become small businesses after 2 years of operation)

Assets/Liabilites

• With increases from 2017 – 2022 in Cash, Fixed Assets, gross fixed assets, and many more the growth potential for a smaller business is present and prominent.
• However, as net worth beings to increase them becomes increased ownership, thus increasing liabilities to the almost 50% that is Net Worth.

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Sales

• As seen in the photo below the average sales has increases across the industry
• Also its important to see how startups recovered after the Pandemic, and are on a positive trend going into this year

Employment

• small businesses hold most of the potential employment, based on volume of businesses.
• Average of 4 employees per small business,
• 48,000 jobs created for small businesses.

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Employee productivity

• . The table above shows that in the US the average sales per employee totals out to be $418,811 as of September 2022. This is the marginal propensity of labor.
• The chart also shows the average annual wages per employee being $144,210 dollars, meaning that the average employee is bringing in 2.9 times their wages, netting a $274,602 average profit per employee.
• Remember this number could be inaccurate.

Market Volume

• The above table shows the industries market class by the number of employees working at each company.
• Small businesses are responsible for 61.39% of the total volume of employees.

Employee Profile

• The photo above is a template to discuss with an advisor when thinking of hiring new employees.
• Things to take into consideration
• skills, and potential, personality type, and career path that you think firs your business well.

Incentive Programs

• When you are trying to raise your revenue one of the things you could contemplate is a sales incentive program. You could do this with your employees and/or your customers. Some of the sales incentive programs to consider include Role specific incentives, split incentives, presale incentives, Omni-channel incentives, and advanced Analytics-based target setting.

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Thank you!

• Established Retail & Personal Service
• Operational & Financial Feasibility
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• Thank you for using this workbook!
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• 1-610-499-4109
• Info@WidenerSBDC.org
• www.Widenersbdc.org 

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