TapSnap Business Description

Business Summary and History

● Business Name

Upstate Event Entertainment LLC (dba TapSnap)

● Business Address

1519 E. North St. Greenville, SC 29607

● Business Phone Incl. Area Code

864-752-8589

● Owner(s)' Name

Brian Pisor (100%)

● Owner’s Cell Phone Number** 312-420-4712

● Owner(s)' Private E-mail Address** btpisor@gmail.com

● Entity Type: LLC

● Franchise: Yes

● Provide a short description of the business, products/services, market, customers:

TapSnap provides photo entertainment services for special events. This includes photo

kiosks (typically manned), iPad sharing stations, green screen technology, streaming

photo technology, and roaming event photography on occasion. TapSnap’s formal

territory includes Greenville County, and per franchise rules we’re able to service all of

the Upstate SC area as well as other markets. While most events do happen in

Greenville County, we’ve also serviced events in Charleston, Myrtle Beach, Asheville

and Columbia. Our customer breakdown is approximately 50% corporate, 20% non-

profit 20% sporting / education, 10% social.

We’ve served customers such as:

● When was the company founded and by whom?

November 2013 by Brian Pisor

● Provide a brief history of the business:

Brian purchased the TapSnap franchise for Greenville County in September 2013,

completed training that same month, and formally launched the business in November of

2013. At the time, Brian operated the business part-time with three sub-contractors while

he continued working a full-time job. Initially, Brian threw a launch party, focused on

getting TapSnap featured on 4 local television outlets, and experimented with different

forms of print media to market the business. In October of 2015, after getting the

business off the ground and re-investing profits in additional equipment, Brian went full-

time with the business, eventually recruiting Debbie Pisor and Chuck Alberding as part-

time W2 employees in 2016. Debbie and Brian focused heavily on business

development (with Debbie earning commissions), and Brian, Debbie and Chuck all

provided services to clients along with occasional help from sub-contractors to deliver

service when needed. During 2016 TapSnap experienced significant growth as Brian

and Debbie began actively networking at 2 local chambers of commerce and various

networking groups, and Brian joined the board of the National Association of Catering

and Event Appalachian Chapter. TapSnap also began sponsoring key, high visibility

events for exposure. These activities led to regular business with various clients and

significant name recognition around the Upstate, as well as revenues doubling over the

previous year. Brian and Debbie continued these grass roots activities into 2017 and

have been on track to increase revenues by approximately 70% over the previous 12

month period (October 1st – September 30th). With dozens of great reviews, repeat

customers, and increasing average revenues per event, TapSnap is poised to continue

growing under the leadership of a new owner.

● Do employees know business is for sale? Yes

● Owner will train for 2 weeks at no cost. (In addition, buyer is required to attend 4-day

training at TapSnap’s Corporate offices in Vancouver, BC per franchise requirements).

● Best time to show business:

During one of our scheduled events so the potential buyer can experience the core

services first-hand. In addition, Brian is flexible to go over additional business details

during business hours.

● Hours open:

Flexible hours during regular business hours, in addition to providing service during

events which can be any day or time.

● Is the business name included in the sale? Yes

● Is the business phone number included in sale? Yes

● Is the Website address and e-mail included in sale? Yes

Products and Services ● Provide a general description of each of the products and services.

TapSnap offers open-air, digitally integrated, and fully customizable photo kiosk services

for corporate and social events. Our core product is a 42” multi-touch screen kiosk with

lab-quality photo printer and green screen technology. We provide full service set up &

tear down and event specialists during events. As add-ons, we provide roaming event

photography, streaming social photo walls, and iPad sharing stations to enhance our

capabilities depending on the needs of each event.

Market and Customers ● Provide a general description of the market, customers, geographic area.

Formally, this franchise unit is licensed for Greenville County (population 495,000). In

addition, we regularly serve clients in surrounding counties in Upstate, SC (the franchise

agreement allows for services to be provided outside of the territory). The Greenville, SC

has been a quickly growing destination town for special events, and TapSnap has

positioned itself as a premier service provider in our industry.

Sales and Marketing

● Website Address?

www.tapsnap1062.com

● Describe your marketing plan? What methods of advertising do you use?

Over the past 4 years, we’ve tried many forms of promotion including print ads, local

television appearances, Facebook posting and ads, email blasts, direct mail, event

sponsorships and networking. The most effective marketing methods have proven to be

personal networking and selling to customers who have seen us live at previous events.

Other notable methods have been email blasts, event sponsorships, and advertising in

the Greenville Business Magazine.

In the past, we developed a marketing calendar that included strategic promotions for

each event season, and communications were done through phone calls, direct mail,

email blasts, personal visits, and the intention of having a “client appreciation” party

(which we never executed, but believe would be a great strategy).

In our opinion there is an opportunity for the marketing plan to be updated and executed

more faithfully, as we haven’t always been consistent with our execution (irregular email

blasts, social media posting, and post event follow up for review solicitation). Another

opportunity is to create a “brag book” that attendants would always have on-hand at

events to show prospective clients, which could include example event photos and

concepts, full service capabilities (as the prospect may not see our full capabilities during

a single event), a list of high profile clients we’ve worked with, and some business cards.

“Live” events are the best place to acquire new clients, and this strategy would help.

Competition ● Who are your competitors?

We’re uniquely positioned to provide services to the corporate market and have carved

out a nice market share with many businesses and non-profits in Greenville and the

surrounding areas. Our closest competitor is Shutterbooth, and other competitors

include Flash 5, Snapsterbooth, and The Fun Box Photobooth.

● How do you compete (price, service, etc.)?

Our core offer is priced at the top of the market (ranging from approximately $300 - $600

per hour), and is geared toward corporate functions as our presentation is clean, simple

and professional with customize-able graphics, lab quality prints, and social media

upload and data capture and reporting capabilities (great for marketing events). In

addition to this, we’ve recently invested in a newly released kiosk targeted toward

budget-conscious social events, giving us the ability to compete for virtually any event in

any price range. Our service is perceived as top notch as noted by our great reviews

from several clients. Overall, we’re viewed as a premier photo entertainment option in

the Upstate.

● Owner's opinion of the best way to improve business

We estimate this business has the potential to at least double its current revenues given

the continued growth of the Greenville area, currently underused capacity of existing

equipment, and various untapped marketing channels. There are a variety of ways this

business could continue to expand, including 1) increased networking, 2) digital

marketing, 3) strategic event sponsorships 4) pursuing the social events market.

Networking: In additional to the Greenville and Greer Chambers of Commerce, NACE

and The Strategy Network, we believe it would beneficial to join Mauldin Chamber of

Commerce, a local BNI group (preferably containing a major local venue representative),

and / or groups such as Rotary. Being involved in a church or religious organization is

also helpful, as well as networking with guests at each event and showing them

TapSnap’s capabilities.

Digital Marketing: Although we’ve done occasional social media posts and email blasts,

we’ve been inconsistent up to this point. With over 6,000 email addresses on file at this

point (all of whom have seen TapSnap in Action), we have a significant database of

leads to market to through email (and this strategy has helped us booked several gigs).

It’s also recommended to contact potential leads who work for target clients through

LinkedIn. In addition, it would likely be effective to develop a robust social media strategy

including Facebook, Twitter, and Instagram.

Strategic Event Sponsorships: To date we’ve sponsored several strategic and high-

profile events, including NACE’s end of year gala, Safe Harbor’s Fashion with a Passion,

Greenville Chamber NETnights, Greenville SHRM Convention, Furman Football games,

Greer Chamber First Friday Luncheon and more. All of these have resulted in new

clients. There are countless events happening around Greenville which present

opportunities for increases exposure to the right audiences. The most effective way to

gain new business is when the right audience experiences TapSnap’s capabilities first-

hand.

Social Events Market: With the recent addition of the TapSnap Studio Kiosk, TapSnap is

now able to compete at lower price points, and therefore has a significantly increased

potential market share. Wedding events are a sizeable and under tapped market to date

for TapSnap. A new owner could also use ThumbTack to promote the business to the

social events market.

Operations

● Explain the product/service routine from start to finish.

Sales:

1. Customer inquires about service.

2. TapSnap representative gather details about the event, explains capabilities and

provides a quote.

3. When customer accepts quote, TapSnap representative provides Event Contract,

Event Questionnaire, and Invoice to Client.

4. Client pays 25% deposit to hold the date.

Operations:

1. If custom graphics are part of the package, TapSnap representative coordinates the

creation of graphics and provides them to client for approval.

2. Once event questionnaire is received back from client, TapSnap representative

confirms event details with client.

3. TapSnap representative collects signed event contract and books event in SnapBook

software (proprietary TapSnap software).

4. On day of event, TapSnap representative(s) arrive approximately 90 minutes before

event “live” time for set up.

5. TapSnap provides service during event, and tears down when event is over.

6. Within 48 hours, TapSnap representative provides client with link to digital photo

album, and provides payment receipt (if not provided yet).

Organization ● How many part-time and full-time employees are with the company?

Apart from the owner, there are 3 part-time employees (1 does business development

on a commission-only basis as well as event operations, the other 2 provide event

operations only).

● How is the payroll done?

Once per month Brian provides payroll hours to Employer Resource Group, who provide

direct deposit to employees, files quarterly with the Department of Revenue, and

provides W2’s.

● Who does your accounting and taxes?

John Megiligan has handled accounting and taxes most recently.

Owner Involvement ● Do you actively manage/ duties/work week?

Yes, Brian is currently the main point-person for event operations and business affairs,

and Brian and Debbie share responsibilities for business development.

● What are your primary duties?

Brian oversees all business affairs, including sales, marketing, accounting, customer

service and event operations. Brian attends events whenever possible to greet clients

and speak with prospective customers (although this is not absolutely necessary). Brian

manages the event calendar, schedules part-time employees to work events, handles

payroll each month, and collects payments from customers. He also strategizes and

executes marketing efforts with the help of Debbie (part-time employee).

● How many hours do you work per week?

As this business is highly seasonal, there are extremely busy months (December,

October, September, April, May), and slow months (February, June, July). On average

for the last 12 months, Brian has averaged approximately 20-30 hours per week.

● What is your reason for selling?

My life circumstances have changed since purchasing the business in 2013. I’m now

married, and my wife and I are looking to have children. The night-time / weekend work

required to run the TapSnap business is interfering with our desired lifestyle, and so

we’ve decided to sell it. I hate to see it go, as it’s been extremely fun and rewarding.

● What is Owner going to do when the business is sold?

My wife also owns a business (a local pre-owned car dealership), and we’ve recently

expanded and hired family to help. I will contribute to that business to help it continue to

grow.

● Will Owner sign a non-compete clause? Yes

● For How Long? 1 Year. For How Many Miles? 90 miles.

● Owner(s)' Salary: While I don’t current take a salary from the business, it earned

approximately $50,000 in profit for the previous 12 months (October 1, 2016 –

September 30, 2017)

● What licenses are required to operate the business?

A business license for Greenville County and a driver’s license.

Facilities and Assets ● Describe the facilities -- square ft., location, etc.

Home-based.

● Are vehicles included in sale price? Yes

Model and Year

2007 Chevy Extended Cab Cargo Van (wrapped with TapSnap graphics)

● Market value of FF&E included in sale price: $45,650

● Equipment list:

-TapSnap 42” Photo Kiosk with HITI P510 Printer – TS1

• $5,000

-TapSnap 42” Photo Kiosk with HITI P510 Printer – TS2 (2)

• $10,000 x 2

-Custom Case for TapSnap TS2 Frame (2)

• $500 x 2

-TapSnap Studio Kiosk with Pelican Case

• $6,500

-TapSnap Sharing Stations (2)

• $1,000 x 2

-2007 Chevy Extended Cab Cargo Van (wrapped, and outfitted with rear lift)

• $9,500

-Social Photographer Camera (Samsung NX w/ Flash)

• $1,000

-Red Carpet, Ropes, and Stanchions

• $200

-Upgraded Lastolite Green Screens (2)

• $150 x 2

-High Quality Physical Prop Kit

• $150

Financial Overview

● Describe the financial trends over the past 5 years?

Revenues have increased by 70% - 90% each year since the company began. The

breakdown is below:

Year 1: $17,000 (October ’13 – September ’14)

Year 2: $32,000 (October ’14 – September ’15)

Year 3: $61,000 (October ’15 – September ’16)

Year 4: $102,000 (October ’16 – September ’17)

● Does the business rely on short-term debt for working capital?

No

● Please explain the nature of accounts receivable?

Accounts receivable is somewhat insignificant. Sometimes clients pay a 25% deposit to

hold their event date, and then pay the balance closer to the date of the event. Many

clients also pay in full upon booking. Most gigs are booked 2 weeks to 2 months in

advance.

● Average Receivables: $3,000

● Average Payables: $0

● Approximate working capital needed on average: $5,000

Technology Overview

● Describe the technology used every day.

Laptop computer, TapSnap proprietary software, Microsoft Office Suite.