Nehemiah Davis says the event space industry is a multi-billion dollar opportunity everyone’s overlooking. He teaches people all around the world how to open profitable event spaces.
Although, in doing my research to write this review, he’s already tried to sell me three other unrelated programs – a make money on Instagram course, a replay of his Digital Blueprint Mastermind, and then this Circle Of Greatness thing – so I’m already not feeling this dude.
But anyways, let’s hear him out.
“It’s funny,” Nehemiah says, “in Philly, I’ve been doing events for a long time. Book signing events, networking events, mixers, I always been a networker. Like, how can I help you? I been networking and helping people for so long.”
“I used to have these weekly events called Social Sundays where people would come hang out, I’d have conferences, all this stuff,” he continues.
“And I realized, in the process of me having all these events, the most expensive thing is always finding the venue.”
“So I kept paying these people for the spots, but the owners would never be there. So I’m like, how are they makin’ all this money and they’re never here? So that, in addition to this rental property I had that I kept getting burnt on by my tenants leaving, I did the analysis, and I determined event spaces was a much smarter investment.”
“That’s what got me outta debt. I was having 5-10 events a month, paying me $500 to $750 [per event] at the time – now I’m making way more money from one building.”
Now, obviously you’re not gonna go into the heart of NYC and snag your first venue. Too expensive, too risky, right?
You wanna get started by looking for places that are on the come up. Still convenient for people to get to, but not on the main drag where everything’s already poppin’. That’s your sweet spot, Nehemiah says.
And don’t worry, you’re not gonna be buying these buildings outright. You can just lease ’em. Pay first month, last month, and security deposit, and boom, you’re in the event space business.
Nehemiah also argues that now’s a great time to get into this particular niche of commercial real estate.
The world was shut down with the pandemic, and now here we are in a recession, so everything’s cooled off quite a bit. In other words, these places are on sale. You can go find an event space that’s just sitting there, vacant, because maybe the previous leasee (is that a word?) got wiped out during Covid.
And the landlord will be grateful to rent it out to you at a reduced rate, just so he’s cash flowing again, right?
You don’t have to get massive venues, either. Think micro events. Maybe 50, 75, 100 people, max.
Baby showers, smaller masterminds, that’s where Nehemiah likes to play.
And then don’t limit yourself to just the margin between what you can make from monthly bookings and what you have to pay the landlord. That’s a great start, but then you can upsell your clients, right?
Like maybe the mother-to-be wants an oversized throne chair everyone can sit in to pose for pictures. Speaking of sitting, they’ll need tables and chairs, food and drinks, flowers, decor, music, maybe a live DJ. The list goes on and on.
You can offer to handle all the above, for a nice fee, and then outsource it for less.
Once you get more than one space under your belt, you can hire a virtual assistant, a bookkeeper, then maybe a manager to oversee everything. Eventually it could be entirely passive for you.
Gotta say, my man won me back. I don’t like that he’s selling all these different opportunities, but I can tell he knows this particular business inside and out.
No mention of what Event Space Seekers 3.0 costs, but I bet it’s solid based on what I just heard.