From Overworked Beach Boy to Ultra Profitable and Sold:
How SDKPR Increased Customer Perceived Value and Beefed Up Their Bottom Line
“It’s not often that you work with a company that not only listens to you and helps you achieve your goals, but one that feel like a true partner.”
Executive Summary
Greg Knight owned his business for over a decade and was not looking to grow past a million, as he’d already been there and did not like the daily grind and hustle that came with it. His goal was to take his now $500,000 business and grow it 50%, increase profitability, and decrease the amount of time his Team and he spent working. We completely took over his marketing, redid his website, redid his offers, increased pricing, and then implemented SEO and Paid Ads strategies to drive awareness and capture his market. Through our strategies SDKPR grew from $500,000 to $775,000 in the first year. Greg and his Team, also got their time back and they regularly manned the office from 10:00 - 2:00. This gave Greg more time to enjoy the southern California surf and sun, and do the things he loved most. After 2 years of working together, Greg was able to find a buyer for his highly profitable business and has since retired. He now writes music and surfs on a daily.
Introduction
- Client Background: Greg Knight, owner of San Diego Kids Party Rentals.
- Industry: Entertainment
- Importance of the Case Study: Through increasing customer perceived value of their services, we were able to increase pricing, and rental duration, and reduce operational costs. Then, by taking over their marketing on all channels, we we able to create a cohesive brand message that introduced incredible value to the market and ultimately gave Greg what he was looking for. More profit, less time at work, and the ability to create a very sought after business to sell.
Client's Problem/Challenge
- Initial Situation: Greg Knight had previously reached $1,000,000 in sales but was overworked, disliked managing a large team, and wanted more personal time for surfing and music.
- Impact: Overworking and dissatisfaction with business operations. He was burnt out.
Goals and Objectives
- Primary Goals: Increase revenue by 50%, enhance profitability, and reduce workload to create a sellable business.
- Specific Objectives: Achieve higher profitability, streamline operations, and offer more personal freedom for the owner.
Solution
Marketing Takeover
Managed the company’s website, SEO, Google, and Facebook ads.
01
Create New Offers
Developed a strategic offer to encourage customers to rent items all weekend and another for them to come pick them up.
02
Business Model Adjustment
- Shifted focus to 3-day rentals for the price of one, providing more value to clients and reducing daily workload/weekend.
- Increased pricing across the board to reflect the enhanced value.
- Introduced a customer pickup model to minimize delivery needs.
03
Execution and Delivery
Step-by-Step Execution
Marketing Improvements
Enhanced online presence and ad performance.
Operational Changes
Implemented 3-day rental model and customer pickup options.
Pricing Strategy
Increased prices strategically to boost profitability.
Results and Outcomes
Revenue Growth
Increased from $500,000 to $775,000.
Profitability
Achieved 25% profitability, significantly higher than the industry average of 15%.
Work-Life Balance
Greg worked from 10:00 AM to 2:00 PM daily, allowing more time for personal activities such as surfing and music.
Client Testimonial
“The Team at BestLyfe Group has been nothing short of exceptional. Through their innovative ideas to increase our revenue and profit, and their ability to market our Brand well, we were able to achieve my goals and vision for what I wanted my life to look like as a business owner. I did not want to be chained to my business. I wanted it to support my lifestyle. To Michael and Dustin, thank you for creating a business that helps other business owners reach their goals and dreams. It’s not often that you work with a company that not only listens to you and helps you achieve your goals, but one that feel like a true partner.”
Greg KnightOwner
Conclusion
Through the successful transformation of San Diego Kids Party Rentals' offer, pricing structure, and marketing, SDKPR increased revenue by over 50%, increased profitability high above the industry average, and also improved work-life balance for Greg Knight. By doing all of the above, Greg was able to create a sellable business and now spends his time doing the things he loves.
