7 Step Business Plan for SBA Funding

 

 


 Casino Business Plan

Quotable

You gotta'
Know when to hold,
Know when to fold 'em up,
Know when to walk away,
Know when to run.
Kenny Rogers
"The Gambler"
 

 
CASINO BUSINESS PLAN

KEY CONSIDERATION FOR YOUR CASINO BUSINESS PLAN

With the burst in interest in gaming resorts, now is the time to get your casino business proposal ready.  With so many more states legalizing gaming, the casino industry is growing at double digit rates year after year.  

There are only two big things you will need:  money, and a knowledge of gaming law.

STRONGEST ADVANTAGE TO A CASINO BUSINESS PROPOSAL

Gaming of all kinds is a very strong business model.  There is a lot of money to be made, if you know what you are doing.

STRONGEST DISADVANTAGE

Because the stakes are so high, the risk is also high.  Only the genuinely experienced win in a casino business.  That is why it is extremely important to present a very professional, very business like plan.

When creating that casino business proposal, it is important to consider the many tax, business and legal ramifications that are unique to the world of gaming. 

The successful casino business presentation will need to account for the confusing and complicated array of local, state, and national laws that regulate casinos, as well as any additional laws that will apply if you wish to play in the world of gaming.

Any potential partner will want to carefully review the casino business proposal before buying into the business, and every loan officer will go over the casino business plan with a fine tooth comb before lending money to a new venture.  So polish up those pencils, make your plan and create a casino business presentation you will be proud to show the world.

Also look at the franchise option for a casino business.  This certainly alleviates a lot of the legal issues involved, and places you in the corner of a successful company before you ever open your doors -- not a bad position to be in.

FOR ADDITIONAL INFORMATION FOR YOUR CASINO BUSINESS PLAN AND YOUR CASINO BUSINESS MARKETING PLAN

There are two distinct types of gaming:  resort style and online.  Whichever you choose, use the business plan approach the best suits your gaming style.  If you really want to do both, focus on one first, then get the other up and running later.

There are two types of statistical information that you will need for your casino business plan:  one set detailing the growth of the casino industry as a whole, and one set detailing the client base in your geographical area.  Both can come from one source.

For statistical information for your marketing plan for a casino business, go to BizMiner.  

In the search box, enter "casino".  You will see two reports available:  the Financial Analysis and  the Marketing Research.  Both reports are invaluable.  Study them prior to submitting any request for funding.  That's what your lender will do.

For demographic information for your area, be sure to check in the left hand navigation bar of BizMiner for "VIEW ALL REPORTS", then "AREA DEMOGRAPHICS".  This will likely provide the statistics you need to prove that your market is there.

ONE STEP FURTHER IN YOUR CASINO BUSINESS PLAN

Your 7-Step Business Plan will help make your presentation as unique as your business.  Best of all, it is already in MS Word and MS Excel, two programs you already know.

Click on the book cover for more information.

YOUR ONLINE PRESENCE

Even if you are beginning with the resort casino, you will definitely need an online presence.  This is a site that can impress your potential lender/investor.  Make it look sharp and rank well.

YOUR LIKELY LENDER/INVESTOR

Angel investors and/or private investors are probably your best bet. 

Also, if you are purchasing much equipment, seriously consider leasing this equipment rather than buying it.

.

Related Articles


Skip Ruzmand,
Business Plan Specialist

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