Bookmaker business with InBet in numbers
Dear readers, after a few dozen calls from our clients in a fairly short period of time, we have decided that our editorial board is simply must provide answers to all your frequently asked questions.
And today we will talk in detail about the betting business using a bookmaker franchise, there will be a lot of figures, facts and useful information, so sit down comfortably, there are many interesting things for you.
Let us find the answer to the main question: how can a franchise bookmaker business really be profitable?
- Relatively small investments at the initial stage, which, according to experts, pay off in approximately six months of the company's operation.
- There is no need for large financial expenditures on marketing and advertising; entering into a franchise business you become a part of a well-known company.
- The management company provides information and consulting support. In fact, a first-time entrepreneur moves along the green corridor, tested by many years of experience and mistakes of other franchisees, which reduces the risks at the start stage to naught.
- The management company provides ready-made technical solutions for the enterprise operation. For the betting business, this means a significant reduction in costs, since good gambling software costs much money
- The management company can provide you with some expensive professionals, as well as assistance in hiring staff. For example, finding a really good analyst for a proper setting of quotations can be quite difficult, even in large cities, not to mention small towns. This is definitely a big plus.
- Company registration, obtaining a license, signing a contract
- Rental of premises in a proper location
- Renovation of the leased premises
- Purchase of equipment and recruitment
- Advertising and marketing
Company registration, obtaining a license, signing a contract with the management company.
Fortunately, it is the start of a franchise business - this stage presents relatively minor difficulties for entrepreneurs, as the management company is ready to assist in obtaining a license, our people jokingly say that "Sometimes it's easier to start selling guns than to get a license for the bookmaker business". It is really so. Independent entrepreneurs will have to go through a very difficult bureaucratic procedure, or invest heavily in hiring a director who has already dealt with the process of obtaining such licenses.
The process of registering an enterprise and signing a contract with the management company is absolutely standard, so it will not go too much into details, since these issues do not represent any particular difficulty.
On average, entering a franchise relationship to open a bookmaker office will cost an entrepreneur approximately three thousand US dollars when it comes to joining a small corporation and up to 50,000 US dollars when it comes to market giants.
But there is a huge advantage: This stage is the most expensive investment required to open a betting business. Further costs are relatively small.
One interesting fact:
According to experts, the full cost of starting a franchise bookmaker business pays off on average during 6-8 months.
Rental of premises in a proper location.
Let's expand the definition of the proper location in such a difficult segment as a betting business.A proper location is:
- The place is located in the epicenter of publicity where the target audience is concentrated. In 95% the bets are made by men, and this is a recognized fact.
- Convenient entrance for the customers on the front side of the building.
- It must be first floor only, the basement level will not work in the entrepreneur's favour.
- Subsequent minimum investment in repairs.
- A possibility to correctly place the sign and advertising attributes in the future.
- Convenient transport junction.
The shopping malls and recreational centers can also be an option for rent.
On average, the rental of premises can cost from USD 300, depending on the region, road junction and room floor space.
Renovation of the leased premises
This clause is too broad to speak about it in great detail.
n average, redecorating the premises will cost USD 500-800, depending on the preferences of the entrepreneur and the initial state of the premises.
Purchase of equipment and recruitment
As previously mentioned, the management company will provide temporary assistance in the person of the most important specialists, after that everything is in your hands. At the initial stage, you only need to hire a well-trained and experienced booking-clerk who will accept bets and issue gains.
As to the issue of purchasing equipment, everything is actually quite simple and depends on your budget.You will definitely need:
- A cash register and receipt issuing machine for the booking-clerk
- A computer for the booking-clerk
- A required number of TV screens
- A video surveillance and alarm system
- An air-conditioner
Based on our experience, on average, it would take USD 1,000 to equip a bookmaker's office, but the fact that there are no special requirements for equipment works in your favour. You can easily choose the equipment with minor defects or used, however, it is important to check that the PC equipment must meet the requirements of the software for the bookmaker office.
And security companies often provide good discounts for installing alarm and video surveillance systems in certain periods of time, so the costs can always be reduced.
Stage 5Advertising and marketing
This stage is applicable either at the start of your business operation, or in a very short time before it starts.
As we have already mentioned, the franchise bookmaker business does not require much investment in marketing, since you are already a part of a well-known brand, but at the initial stage you will definitely need a rapid increase in venturous customers.
To attract them the following items would be perfect:
- High-quality LED signboard
- Branding of the entrance to the premises
- The so-called "pavement signs"
- Promoters working in the street next to your bookmaker's office
- Outdoor advertising in residential buildings next to you, in elevators, in mailboxes, on the bulletin boards
- Advertising in public transport passing by or heading towards your office, if it is located at the terminal station
- Radio advertising in nearby public places
These methods are quite cheap to implement, since there is simply no need to invest in complex marketing tools.
On average, this stage may cost from 400 to 1000 US dollars at the initial stage. Then you will have the opportunity to be flexible in advertising presentations, since you will already know the main channels to attract customers, the prices and the right people who are ready to offer good discounts for continuous cooperation.
- On average, the total cost of starting a bookmaker business using a franchise will amount to USD 5,100
- On average, your cost recovery takes only six to eight months
- You will not be alone, the management company will provide support to you, and if you have good communication skills, then meeting with the representatives of the same franchise in your city will not be difficult
It is definitely profitable to start a franchise betting business. But at this stage, you should think about the franchise worth joining. You need to weigh the pros and cons
We represent our franchise, which is available in 8 countries of the world, we have over 10,000 customers and we will be happy to render assistance to you!
Leave your application on our website and our manager will contact you to discuss the issues of starting the bookmaking franchise business in person!