EP 454: $6.9M Movie Tickets Sold In Discount Marketplace DealFlicks with CEO Sean Wycliffe

Sean Wycliffe, CEO of Dealflicks –  a company that helps movie theaters move tickets at discount prices. Listen as Sean breaks down how he uses affiliate-driven system to drive a $ 240,000 per month business.

Famous Five:

• Favorite Book? – Laws of Leadership
• What CEO do you follow? – N/A
• Favorite online tool? — Slack

• Do you get 8 hours of sleep?— Definitely
• If you could let your 20 year old self know one thing, what would it be? – “Wish I would have got to real estate earlier”

 

Time Stamped Show Notes:

• 01:40 – Nathan introduces Sean to the show
• 02:10 – What is Dealflicks and how it makes money?
• • 02:15 – Dealflicks is partnered directly with movie theaters
  • 02:27 – Currently all over the country
• 02:47 – Number of ticket moving per month
• 03:20 – Average ticket price
• • 03:45 – 70,000 tickets per month and 70,000 from concessionaires
  • 04:05 – 2 tickets per transaction
• 04:16 – Average order value is around $ 13
• • 04:25 – People buy them as gift cards
  • 04:44 – The $ 13 can be for a ticket and a concession
• 05:05 – Marketplace
• • 05:13 – Movie theaters are allowed to have inventories in the platform
  • 05:24 – Sellers are the theaters; buyers are the movie-goers
• 05:31 – There’s around 800 movie theaters and 6000 screens on the platform
• 06:02 – Number of unique buyers since the Dealflicks started
• 06:41 – Dealflicks was launched in 2012
• 06:48 – First year revenue
• 07:17 – Dealflicks takes a pre-arranged percentage per ticket sold on the platform
• • 07:36 – An average of around 15%
• 07:58 – Gross margin
• 08:30 – Current team size
• • 08:40 – 8 full-time employees
• 09:21 – Raised $2.9 million and opened up a bridge net recently
• 09:58 – Aiming on getting Series A next year
• 10:20 – They’re willing to take investors
• • 10:27  - “If you’re a startup, you can always raise money but it’s not always necessary”
• 11:07 – Dealflicks is making $ 50,000 per month
• 11:24 – No other expenses
• 11:30 – In July, they crossed over $ 480,000 for revenue
• • 11:50 – Spending more on marketing and team
• 12:13 – Valuation of the company
• 13:45 – They recently expanded internationally
• • 14:18 – It’s a big proof point
• 14:43 – 2015 total transaction volume
• 16:16 – 2016 growth goal
• 16:36 – Number of unique buyers per month
• 17:40 – Reach Sean through Twitter and Facebook
• 19:50 - The Famous Five

 

3 Key Points:

• If you’re a startup, you can always raise money but it’s not always necessary.
• Aim for a healthy growth.
• There’s no age limit in entrepreneurship – you can start as early as you want.

 

Resources Mentioned:

• Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
• Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
• Freshbooks – The site Nathan uses to manage his invoices and accounts.
• Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
• Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
• Assistant.to – The site Nathan uses to book meetings with one email.
• @dealflicks – Sean’s business Twitter handle
• Facebook – Sean’s Facebook account
• Show Notes provided by Mallard Creatives