Generate More Revenue With ... Competitions (Part 4 of 4)

Posted on 1/20/17 2:43 PM by Elizabeth Simoneau

Organizing a competition, regardless of size, is an interesting way to increase both your income and your reputation within your industry. By organizing a competition, you maximize the use of your space and equipment and you attract outside participants who have never visited your facilities. Indeed, it takes some dedication, but it can also be a fun challenge!

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Here is a short list of things to consider before you begin!

Choose the Right Moment

The time at which your competition will take place will influence the number of participants you attract. Don’t hold your competition at the same time as similar events, during long weekends or holiday periods. Families are usually very busy and won’t have time to travel for a competition. Why not hold it at the beginning of the season, so that the clubs and participants may get to know each other? By holding your event earlier in the season, it can be used to evaluate the participants who wish to join your competitive team.

Tie-in Your Event to a Cause

Would you like to add a social dimension to your competition? Don’t hesitate to tie your event to a cause. You will be able to gather donations for a foundation or a non-profit organization. This element will also help promote your event and get the attention of media.

Determine a budget

Your expenses will help determine if fees will be needed from participants and/or if you’ll need sponsors. Since it would be a new competition, you might want to keep the entry fee low to encourage participation.GMR photos-1.png

Expenses you want to think about:

  • Medals or trophies,
  • Hiring officials, judges, or referees,
  • Posters and flyers for advertising.

Things to consider to increase your revenue:

  • Sell products to spectators (water bottles, coffee, branded items),
  • Recruit volunteers,
  • Hold a 50/50 draw.

Name a Spokesperson

Was one of your former participants successful in major competitions or internationally? Ask them to be a spokesperson for your event! On top of giving you credibility, it’s a good way to attract more participants and media coverage. 

Get the word out

Contact similar organizations and schools to advertise your special event and send flyers to other tournaments. You should also try to get in contact with a local newpaper; they might send a journalist to take photos. Send emails to your contact list and promote your event on Facebook. The more participants you get, the better! By spreading the word, could even get your event into local news, which can be exciting for participants and valuable for you.

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