How Can We Afford Festivals for Troops?

Last week, we published a post titled, “Troops Want Festivals."  The post caused quite a stir within the Military and MWR communities. We got calls from three Congressional offices and senior leaders from all four services asking lots of questions after being featured in RealClearDefense's MORNING RECON.

Let us answer that question with another question, “HOW CAN YOU NOT?”  

If we keep pushing activities where troop attendance is poor, MWR will cease to exist.  

-Golf courses on base were built in the 1940s & 1950s during and after WWII and the average golfer is 54 years old

-Bowling Alleys were the focus during the height of the bowling craze in the 1960s and 1970s, but the industry has been in decline for the past 15 years and has moved upscale as the average bowler makes $74k per year.

-Libraries became irrelevant as soon as reading and learning moved online, and troops are even more tech savvy than their counterparts in the civilian world.

Right now, we need a paradigm shift to align troop demand with MWR supply.

Festivals are clearly what millennials and troops want!  However, we completely understand the anxiety behind the budget cuts affecting us all.

HOW CAN YOU PAY FOR A FESTIVAL THEN?  

Here are three things to think about:

2. Establish a monthly accrual ($5K, $10K, $20K, $50K+ etc.) which will produce $60K- $600K+ to fully or partially fund the entertainment portion of the festival.  An accrual spreads the entertainment expense across 12+ months and ensures your MWR fund has enough cash to fund the entertainment and associated production costs.  Increase the monthly accrual each year to buy bigger and better A-list talent as your festival grows in size and scope.  Once you determine your target A-list talent, your MWR NAF Financial Management Team can help you figure out the right accrual amount and the mechanism to begin the accrual process. TTFE can help you identify great A-list talent at some of the best,  if not THE best, prices in the entertainment industry.

3.Set revenue targets (ticket, food and beverage, sponsorship and “YOUR EVENT” branded merchandise sales) of making back 50%, 75% and 100% of event costs for Years 1, 2 and 3.

Let us know if you have any additional questions and we’d be more than happy to help! 

Sean Gilfillan is the CEO and Co-Founder of TTFEntertainment, the world's only Military Founded, 100% Military Focused, Live Event Promoter.  TTFE, a DoD-approved contractor for Talent Booking and Production is the #1 expert in Military Entertainment and Producing Live Events on U.S. military bases worldwide.