Make money on event hosting!

[zlad]

Hey,

Id like to host extreme sport comps/events and im just wondering if I could get some more input.

My first event will be a skate competition at a local, yet internationally known, skate park. Ive spoke to a bunch of the locals, even skaters visiting from out of province, and they all said they'd like to see a comp there. ..so I know theres a want for it. Its easy to get the permit for this park too, so my only question for now is...

Where can I make money from this? Aside from competition registration fees.. what can I do? ..Sponsors? ..Media coverage?

Any help is greatly appreciated!

Thanks,

Zlad.

[THRIFTY55]

Local sponsors would be a great revenue for your gig. Unless the event will be including large $$$ purse winnings and/or big name skaters, media coverage probably won't be attainable more than a small clip on the local news. Keyword in your startup is LOCAL. You will need to build a strong local following before you will grow to host large scale events. Goodluck man.

[zlad]

Thanks homey, thats some good advice on the local following. You think I can "charge" sponsors to have tents and such?

And I know a bunch of ways to get some media coverage.. but no revenues from that.

[henrykuong]

Really great! This is I need. thank all eveyone 4 shared !

[inle]

This really aroused my interest..
I had seen & helped in doing something like this before..

First..
You got to know who are your target group who are coming in and how many of them coming at which period of time..
In your case, skaters & the niches..

Research more about them on what's their likes, dislikes, what are the stuff they usually spent on etc etc..

Source of income: Registration fees..
You can have an individual's competition for Male, Female & maybe Group..
Or even the Hottest Babe & the Coolest Hunk contest..
Include an discounted Early Bird Registration fee..
This will surely attract more people & increase your average sales per head..
If you manage to rope in vendors or any groups or activities that they are interested in, you will have a larger crowd..
Example: Performances, merchandises etc..
Support you get:
People & even groups of skaters to populate your event..

Second..
Check on merchants, vendors(from food & beverages to accessories to whatever industries that having the same target group) who are reaching out to satisfy the skaters' wants..
Check what kind of publicity they need to generate either brand awareness & sales for them..
Provide them these two for them & offer "free" stalls to hawker their wares..
You got to thínk for yourself on ways you can add value to them ya..

Source of income: Sponsorship fees..
You will need a good & sellable proposal to the businesses to achieve..
Tell them how & why your event can help them in creating awareness, generate leads & sales to them..
Example: You can include a exclusive discount voucher featuring the vendors to all participants..
Support you likely to get:
You get the funds(the surplus becomes your profit), logistics to run the event..
If you can maintain a good relationship with these businesses, there are many future opportunities to work with..

Third:
Sell space for other vendors who don't want to, unable to sponsor but want to get a piece of the action..
Rent stalls for this group, possibly you might look at smaller businesses who want to get their business out but got no budget to sponsor your event..
Sell them the opportunity to be exposed to a large target group within their budget..

Source of income: The $ you got directly from the stall rentals.. Do help them to achieve their sales as much as possible & make then feel that the effort is worthwhile & they will support your next event..