We hear Stamas and his team —
Exelon-Pepco wasn’t the only merger in the Washington business landscape last week.
No terms were disclosed, but Metropolitan puts on three events a year —in Washington, Houston and Dallas — that gross more than $3 million.
The Medveds’ revenue for each show comes from four sources: tickets, exhibitors who rent booths to sell everything from kitchen knives to hot sauce, sponsorships and book sales.
Krause, owned by
He has food shows in Mexico and Japan, but wanted to crack the U.S. market. “It fits into our business plan of expanding into the food industry,” Krause said. “We can develop this into 12 cities around the U.S.”
The Medveds were happy to comply.
“We are a small business,” Denise said. “I really felt as though a much larger company gave it the best chance to grow into a much larger property into a whole lot more cities.
She said the two parties met at industry association meetings, and have been talking for more than a year.
“Like any small business, one of the things that keeps you up at night is the cash flow. So I was more than happy to welcome a conversation with someone who could provide financial resources as well as other resources, so we can recognize [the company’s] full potential.”
Merrill, 30, who studied sports business at Georgetown University, decided there was a business in delivering fresh Maine lobsters to Washington eateries. He teamed with childhood buddy
The Bowie-based business delivered $150,000 worth of Maine lobsters to 25 Washington area restaurants, including Cleveland Park’s Ripple and Thames Street Oyster House in Baltimore. It hopes to increase sales to $250,000 this year.
LobsterME claims its differentiator is freshness. The company forswears the tanks you see in restaurants and instead delivers the crustacean direct to the customer in ice-filled boxes, which sometimes even include seaweed.
“When our accounts open their box of lobster, their hands are the first to touch the lobster since it left Maine the day before,” Merrill said.
LobsterME has a diversified supply from three providers across Maine, which helps bring consistency and keeps prices down.
Shipping fresh lobster is not easy. The creatures are packed live on ice, placed in boxes and driven south four days a week by a third-party trucker. Merrill picks up the lobsters at a seafood hub in Jessup within two hours of their arrival, and delivers them to customers by noon.
Merrill said after costs, including buying the lobster, LobsterME grosses about $1 per pound.