Like so many event centers across America, The Dreamland Ballroom operates under an amalgamation of both non-profit and for-profit business models.
Business in the early 21st century
One can only guess what business is going to be like at the end of this century, but at the beginning, everything changed.
Just as households have monthly bills, businesses do too. To pay those monthly expenses there is monthly income. In business, it is called sales.
There was a time when many businesses could thrive on a traditional 40-hour work week and a 4-week sales cycle, but not today. With the introduction of the Internet there came incredible opportunities, but it also introduced an entirely new expense category on everyone’s income statement: Technology.
Today, businesses don’t just operate from 8 to 5. They must be available 24 hours a day, seven days a week. Websites, online marketing, cybersecurity, software subscriptions, and digital advertising have become essential operating costs.
This brings me to the amalgamation business model of many performance halls and event centers across America, especially the historical venues with extensive renovations and upkeep.
Now knowing there are not enough rentable weekends in a month to make a historical performance hall profitable, you see the reason for the amalgamation.
The non-profit side of the organization makes the Ballroom eligible for grants and charitable support to preserve this historic landmark. The for-profit arm helps prop up the non-profit by generating revenue and sharing operating expenses.
Pulling it all together
This past weekend we saw that business model at work.
The Dreamland Ballroom was open for its largest event to date, Arkansas District 2 Congressional candidate Chris Jones hosted a rally with special guest former U.S. Secretary of Transportation Mr. Pete Buttigieg in attendance.
Meanwhile, the newly opened Dreamland Lounge on the first floor was reserved by Jones for a private reception. Guests who purchased a $500 ticket enjoyed an intimate hour with Secretary Buttigieg, complete with conversation and a commemorative photo.
As you can see from the photo, we all managed to squeeze in for one pic.
Note: Dreamland Ballroom has always been a gathering place for the whole community. We rent to individuals and organizations across the political spectrum, and the views expressed at any event held here are those of the renter, not Friends of Dreamland, Dreamland Lounge or FlagandBanner.com.
About the Author
Kerry McCoy founded FlagandBanner.com in 1975 with just $400 and a dream, building it from door-to-door flag sales into a multi-million dollar enterprise. With over five decades in the American flag and banner business, her insights into patriotic trends and flag sales patterns come from serving customers nationwide during times of celebration, crisis, and everything in between.
Kerry is also the host of “Up in Your Business with Kerry McCoy” radio show and continues expanding her business empire through Kerry McCoy Enterprises while sharing the entrepreneurial wisdom gained from decades of building the American dream.
