How to build a Fun Casino Business in London – Part 1
Building a Fun Casino Hire business in London
The first desire of almost every Fun casino hire business owner I have met is to show profit. The easiest way to do this is to make sure the running costs do not exceed the amount you make from your venture therefore I’ll be attempting to write rules for myself to enable me show a profit from running a fun casino hire business in London.
Keep a thorough record of your true costs
The major costs of running a fun casino event in London are often storage and maintenance of equipment, hiring or owning a van to transport tables and equipment, fuel costs, staff costs, parking, insurance and taxes. All these need to be factored in when you are setting your prices.
Try to find a name and a logo that stands out from others. Also, think of ways you can bring value to your customers in your own unique way.
Learn how to negotiate
Everyone wants a bargain therefore if you don’t know how to negotiate, you will often find yourself in situations where you can barely cover your costs talk less of showing a profit. Make sure any loss leaders you incur are decisions you have made. If a Fun Casino business keeps running free events to gain exposure, it’s a matter of time before the business starts losing money.
The success of most small businesses starts off being heavily influenced by your close circle of friends. People generally hire people they know and trust. If all those closest to you are always after freebies, you will have to set ground rules for yourself on how much you can accept to run an event.
Thankfully this is not a problem I am experiencing with Nomadic Fun Casino Hire. We’ve been fortunate to find friends and colleagues who encourage our business therefore our progress has come down to ‘show me your friends and I will tell you who you are’.
Growing every business takes time
There is a big temptation to go for it early. It’s a marathon and not a sprint so it’s best to focus on building your foundations carefully. Don’t let all the ‘experts’ rush you into throwing money at every advertising gimmick they have out there.
Grow your community, learn more about social media and find out how you can communicate with potential clients. Be consistent. Don’t neglect the offline side of things too. Everyone needs some form of entertainment, the key is how much are they willing to pay for your service that can allow you to run your business profitably.
Do everything possible to keep your promises
This sounds easy but it’s not, especially when money is tight so make a habit of paying everyone on time. Build relationships with your customers and staff where there is trust. Don’t be quick to sign up to things that you might not be able to afford as these situations can easily damage your reputation.
The secret ingredient to every venture is courage. Every new business will bring up some challenges and the fun casino business is no different. Decide early that you will give it your best shot and put your heart into it. If you don’t expect to battle, you will probably give up early.
I hope you find my tips useful. I am not an expert on how to build a business. My blog is just me sharing my thoughts so If there are things I have left out (I’m sure there are loads), please feel free to leave your comments below. We can all learn from each other. Please check us out at www.nomadic-events.co.uk to see the services we provide. It would be nice to hear from you.
Copyright Jimi Sotimehin. Not to be copied without permission.