Prize Money Math

Prize money math

Prize money-everyone wants prize money but do the math people.

100 people at $45 first entry and $25 second entry.

70 people enter two divisions. $4900 income.

30 people enter one division so that is $1350.00.

Total income=$6250.

Off the top R2 sports gets 412.50.

Now everyone wants food. Breakfast, Lunch, Dinner for Saturday, Breakfast for Sunday and lunch est costs to eat all weekend at bargain prices?

$1000.00 for five meals.

Shirts? Dri fit? 100 shirts would not be enough because of the sizing issues. 150 shirts at a great price of $11 per shirt and the cost is $1650.00.

Cost so far is 3062.50.

Now throw in advertising via posters, facebook etc. and miscellaneous things and you probably are up to about 3200.00.

Now prize money is wanted by players so lets put some prize money in. $500 for first and $250 for second.

Men and women Open comes to $1500.00. Total Expense $4700 total income $6250.00.

Now you have a tournament director and staff. Who do you pay? The profit is $1550.00.

The club is charging $500 per day for you to hold your tournament. and this leaves you with $500.00.

Now that is if everything goes off as hoped. Sponsors will help offset the expenses but it takes time to establish sponsorships and give the sponsors bang for their buck. Most clubs do not donate their courts these days. How do you make sure you make those numbers? As i stated a few days ago, you may not make those numbers at first so you have plan that way. Now I may be off and left out some expenses (like sanctioning fees for example) but generally this is what a tournament director is facing. If it was easy everyone would do it and be successful.

Oh, and one more thing-if you play in one of my tournaments, or shootouts, I donate money for prizes and donate to the local college racquetball teams.