Singapore  Singapore

Sell a Business

Listing ID: 16904 Last Refreshed: 31/07/2020 Total Views: 4879

Looking for cashflow injection into a promising events/wedding company

Ang Mo Kio

Asking Price: S$50K - 100K
  • Premise Type N/A Premise Size N/A
  • Monthly Rental N/A Rental Desposit N/A
  • Revenue S$50K - 100K Cash Flow N/A
  • Gross Profit N/A Net Profit S$10K - 20K
  • Stock N/A Liability N/A
  • Payable N/A Receivable N/A
  • FFE N/A Established N/A
  • Owner Role Full Time Staff N/A
  • * Revenue, Gross Profit, Net Profit, Cash Flow are based on Monthly average
Randy
Email Owner

Reason For Sale

We are looking to expand our event business with new partners or investors who are keen and passionate about events.

Description

I’m the owner of a wedding and corporate events company specializes in planning events and weddings for all our client.

We started the company 5 years ago and we’ve worked hard to get our business where it is today. A year ago we reached an important milestone: a full year in which we didn’t have to seek out any new clients. One hundred percent of our business that year came from returning clients and referrals. Ditto for the following year. And last year we were so busy that we were turning new clients away.


After a few years of constant effort, we felt our work was finally paying off. That all ended the moment the covid 19 came crashing down.

The day after our president declared the lock down, our first client asked to cancel their wedding package with us. The next day the same request came from two more clients. The hits kept coming and by May, nearly half of the company’s cash flow had evaporated completely.

And still we know the worst is probably yet to come.


We used to get excited every time when the whatsapp call ring or messages because it almost always meant a new customer. Now we dread the sound. Today it invariably means another client is calling for refund or cancellation.


We had to temporary left go of our employees and to date events and wedding sector is not allowed to resume operation, as we are not within the permitted business according to Government.


In the meantime, as our cash flow is haeding to zero or even negative, we have to stop people from cancelling and only allow them to postpone their events/weddings else the company is going to go under.


Will the economy pickup? Will the wedding scene pickup? It is a no brainer, it definitely will. However, we need to be able to tide over this crisis for the moment. Hence, we are looking for investors who are looking out for opportunities to save the company and to earn with us as the economy pickup.   


I believe that no matter what battle each of us is fighting, it helps to know we’re not fighting alone.


Please PM us for more information so we can share more details with you further.

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