Marketing on even wristbands

[youngmoney5]

I am interested in starting an advertising business in which I will use event wristbands for clubs and bars to promote or advertise for other businesses. I live in a college town and in a specific spot there is food located near the bars (pizza,subs shops, tattoo shops etc..) I don't want to limit it mainly to advertisment for "night life" based businesses. Basically I am wondering how I can tap into this market and if it is possibile to make a decent profit. THANKS

[jasaunders]

Your question is not clear.
Is your question: Should I do this? The answer is we don't know.

Is your question: Is this profitable? We don't know either, you need to do market research and determine if a) there is a market for it, and b) what would the markup be

Is your question: how do I do it? The answer is, you start doing some research. Contact local businesses and see if they would be interested in advertising. Find out the cost of getting custom printed wristbands. Calculate your other costs and subtract this from what customers would be willing to pay.

[cjsampson77]

As far as getting bars to use the armbands I think you will have no problems if you give them to them for free. Bars are always trying to cut costs, and more than willing to use freebies. Case in point, notice the coasters and beer signs.

Which actually might be a good thing for you to look into doing as well is coasters.

The hardest part will be getting people to advertise with you. Advertisers like to know their return on investment and you will have a hard time illustrating that in the beginning.

The biggest thing for you to look at now is how cheaply can you produce these arm bands. The lower your cost there the bigger your profit.

I do really like the idea, and would like to know if it goes well. You will never really know if it works till you try it. I think you have a really good idea here.

[youngmoney5]

As far as getting bars to use the armbands I think you will have no problems if you give them to them for free. Bars are always trying to cut costs, and more than willing to use freebies. Case in point, notice the coasters and beer signs.

Which actually might be a good thing for you to look into doing as well is coasters.

The hardest part will be getting people to advertise with you. Advertisers like to know their return on investment and you will have a hard time illustrating that in the beginning.

The biggest thing for you to look at now is how cheaply can you produce these arm bands. The lower your cost there the bigger your profit.

I do really like the idea, and would like to know if it goes well. You will never really know if it works till you try it. I think you have a really good idea here.

That is my main idea behind this venture. I would like to be able to markup the bands to where I can make a profit and at the same time offer the bars and clubs the bands for free. So the first step I would need to do is find the cheapest way to produce these bands. After that I can figure out the markup which will include the costs of the band + a fee to the business that is being advertised. How would I conduct marketing research though? Go into each business and ask them if they would be interested of course.. but what numbers do I go to them with so it is convincible? And in a college town different age groups come out on different nights. I mean the ideas for advertisement are endless. websites, coupon redemptions, scratch off's for prizes...

[jasaunders]

Is there a specific question there?

You already hit it right on the nose, walk into businesses and find out if they would be interested. See what they currently pay for their advertising and make a business case why you could offer a higher ROI.