Frankie Sheahan-founded Pendulum sees profit triple
Events company founded by former rugby international posts profit of €254,229
Tony Robbins is among the speakers who have featured at the Pendulum summit.
The firm, which runs a business and motivation summit at Convention Centre Dublin every January, posted profit of €254,229 for the 12 months to the end of August 2015 to bring accumulated profit to €374,084 from €119,755 a year earlier.
Newly filed abridged accounts for Pendulum Events and Training Limited show the company had cash at hand of €302,221 at the end of the reporting period, compared with €132,701 the previous year.
Mr Sheahan, who is also behind speakers’ agency Front Row Speakers, set up Pendulum in 2013, some four years after retiring from playing for Munster and Ireland. The former hooker, who was only 32 when he stepped down, was forced to quit due to a recurrence of a pectoral muscle injury. Pendulum lists Mr Sheahan and his wife Norma as directors.
Mr Sheahan told The Irish Times the company had made a “massive investment” into the 2017 summit. He said that while presales were strong, the firm was desperately hoping to cover the costs of the forthcoming event.
“Ticket sales are going extremely well but we are still looking for a main sponsor,” he said.
Mr Sheahan said that while the main summit is expected to attract 7,000 people – “visionaries” – over the two days, satellite events would likely be attended by a further 3,000 individuals.
The summit takes place on January 11th and 12th. The business and self-empowerment event comes with a promise to help attendees “unleash their warrior mindset”.