Partnership - Frequently Asked Questions
1. What is the history of Golden Openings?
- "Do you know where I can find those big scissors that cut? Can you write me a press release? What are we suppose to do for our grand opening?" Those were the type of questions Kimberly heard time and again from new businesses while working for the North Hennepin Chamber of Commerce. The Chamber did not provide those services and new business had no where to go. This sparked the idea for Golden Openings!
In February of 1997, Kimberly started Golden Openings with two pairs of home-made ceremonial scissors and an entrepreneurial spirit full of enthusiasm and creativity. Over the years the business grew rapidly. Today, Golden Openings has organized and decorated over 400 grand openings. The company handles everything including invitations, food, sponsorships, decorations, attractions, bulk mailings, customer data bases, celebrities, press releases and rental items. It also has created an array of grand opening products.
2. What is the value proposition?
When businesses are preparing to open there are literally hundreds of details to consider. New business owners are focused on staffing, computer systems, stocking the store, etc. In all of the hustle and bustle, they don't have time to coordinate and publicize their event. In addition, most business owners don't have the knowledge or skills to coordinate a grand opening. Because the grand opening is their only opportunity to make a strong first impression on their customers and the community, they want to do it right. Thus, they partner to Golden Openings to ensure their grand opening is a success!
3. What are the sources of revenue?
-Clients typically invest $2,000 - $15,000 on average for their grand opening. However, some events have budgets over $100,000.
- The event planning hourly bill rate is $75/hour and desktop publishing is $110/hour. This will vary by region within the United States.
- Sales and rental of grand opening supplies (ceremonial scissors, ribbon, banners, etc.) also drive revenue.
4. How does Golden Openings support its partners?
-We provide you with a complete set of materials and supplies to launch your grand opening business. This also includes advertising materials and strategies to help you market your services.
-Your Business will be prominently listed on our web site as our partner in your specified metropolitan area. All service inquires from that area will be directed to you. Internet advertising for the site is on Google, Yahoo, MSN, Alta Vista, Lycos, and other search engines.
-In addition to the initial training, Golden Openings will work with you on an on-going basis to answer questions and provide support.
-We maintain a network of Golden Openings partners. Partner owners will use the network to exchange ideas, vendor information, and contacts.