Show acquisition due diligence

Event businesses look simple on paper, which is exactly why diligence matters: the numbers are easy to flatter. The checklist that earns its keep starts with rebooking — what share of this year's exhibitors signed for next year, at what rates, and how that's trended over three editions. Then concentration: if ten accounts are a third of revenue, you're buying ten relationships, so meet them. Audience claims need verification against raw registration data, not the marketing brochure — duplicate badges, staff scans, and generous "attendee" definitions inflate most published figures, and few shows are independently audited. Contracts matter too: does the venue agreement transfer, how long is the date protected, and what's committed to sponsors at prices you'd never agree today? Finally, the people: identify who actually holds the exhibitor relationships and the community's trust, and tie them in before signing. The common mistake is anchoring on headline attendance and revenue growth while skipping the renewal and concentration work — buying a show at its peak that was already hollowing out underneath. One honest nuance: sellers time exits after their best edition. Assume the year you're shown is the best year, and price the deal on what survives an average one.