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September 07, 2004
Modeling agency for sale
Here's a business opportunity: anyone wanna buy Elite Model Management? The tony agency's New York office was recently sold for about $7M. I used to live a half-block from Elite's Chicago affiliate, and occasionally tall stick-thin women would be seen coming and going. I haven't seen the numbers, but $7M for an industry-leading brand like Elite seems cheap, even if bought out of bankruptcy. Consider that a 30% equity stake would cost $2M, of which perhaps 75% could be through a limited partnership = your equity of 500K. Not bad.
Posted by adrianjo at September 7, 2004 01:09 PM
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