When Lakes Jam owner Jerry Braam came up with the idea of having a music fest at Brainerd International Raceway, he knew it would become a success.
Lakes Jam made its debut in 2013 and Braam worked hard to promote the event, which grew to a three-day music fest featuring country and rock 'n' roll. Now, with a few years of getting Lakes Jam started, Braam has brought in people as investors to help the event grow even more.
"Getting the investors on board was a natural choice," Braam said. "Having them come on board gave me more business knowledge, as they are all business owners. It has helped. You diversify the financial risk, but you also diversify the financial gains ... and with the level of strategy on the ownership team, it has helped me a lot. They all have different backgrounds and when you get that many people in the boardroom you get a lot of great ideas.
"To grow an event you need money. It takes money to make money and we are investing in it. It's a good thing."
Investors in Lakes Jam include: Beth and Ken Lacy, Ocelco Inc., owners; Weichert Group with Dan Kavanaugh, Tim Bosch, Travis Banks and Todd Barnett; Steve and Cindy Clough of Just For Kix and The Teehive; Darrel and Vindy Pulak of Baxter Insurance Group; Greg and Sherry Watland and Gary's brothers Scott and Al Watland, owners of the Kentucky Fried Chicken in Brainerd/Baxter, Days Inn and Baymont Inn and Suites; and Ryan Anderson, a dentist in Wadena.
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Ken Lacy and Dan Kavanaugh, who spoke to the Dispatch, said some of the investors have been major sponsors of Lakes Jam in previous years, and they offered to help in 2015 to see how the process worked. The ownership began last January where they began to be involved in the planning and coordinating of the three-day music fest.
"We all shared the same vision," Lacy said. "This is an awesome event at a perfect location and a great place in Minnesota and we felt it would be huge.
"This is a three-day country and rock concert, who doesn't want to be a part ot it."
Kavanaugh said Braam took his strengths, which include logistics and security at BIR, when he saw the Lakes Jam vision and then surrounded himself with skilled people to help him in all the areas to make a music fest successful.
And with an investment group there are more funds available to help the event. Braam said without the investors there would have been no way he could have brought in headliners-Toby Keith and Styx.
"What we would like people to know is that we are businesses committed to this community and we want to see this thing grow for this whole community, because it helps everybody," Lacy said. "It brings a lot of people here."
Lacy said as a business owner, it is more fun to invest into Lakes Jam than it is in health care.
Kavanaugh said Lakes Jam is a great thing for the community and the investors owe a lot also to BIR owners Jed and Kristi Copham for allowing Lakes Jam to be on their property.
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"It's important for the community to know we are in this for the benefit of the community," Kavanaugh said. "We see the value. This is a family event and most of our ownership group bring our own kids to enjoy it. It's a fun atmosphere.
"What we need to do a really good job at is educating the community in this area of our event. There are still people who do not know what Lakes Jam is."
Kavanaugh said Lacy said the investors plan to keep Lakes Jam as a family friendly event and to have it continue to grow and have more sponsors involved.
Lakes Jam is scheduled to begin at 4 p.m. Thursday and ends Saturday. Go to www.lakesjam.com for more information on the event, tickets.
JENNIFER STOCKINGER may be reached at jennifer.stockinger@brainerddispatch.com or 218-855-5851. Follow me at www.twitter.com/jennewsgirl on Twitter.
