Business Idea

Start A Live Contest Hosting Business

About

Starting a live contest hosting business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell live contest hosting service, or selling live contest hosting service online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$247B
revenue (monthly)
$30K
starting costs
$9.29K
gross margin
65%
time to build
7 months
growth
Organic social media
time investment
Full time

About

Starting a live contest hosting business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell live contest hosting service, or selling live contest hosting service online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$247B
revenue (monthly)
$30K
starting costs
$9.29K
gross margin
65%

 

time to build
7 months
growth
Organic social media
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Equipment & Supply Expenses $500 $5,000
Training & Education Expenses $0 $1,000
Software Expenses $0 $594
Advertising & Marketing Costs $0 $2,750
Website Costs $13 $215
Other Expenses $0 $500
Specific Industry Expenses $0 $100
Total Startup Costs $1,263 $17,159

Successful Businesses

Business URL Rank
Eurovision.tv eurovision.tv #125,187
Earthx2021 earthx.org #132,240
Hot97 hot97.com #132,887
Host Your Contest codechef.com #155,605
Zomex zomex.com #205,211
LoudounTimes.com loudountimes.com #260,975
GSL getsetlive.com #284,156
Oryon Networks oryon.net #294,884
BattleBots battlebots.com #330,887
National Bible Bee biblebee.org #354,756
Web hosting by Networks networkshosting.com #371,022

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a live contest hosting business costs significantly less money than most businesses, ranging anywhere from 1,263 to 17,159.
Rewarding work Starting a live contest hosting business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Traffic to your website A live contest hosting business gives people a reason to visit your website and to keep coming back to you!
Cons Description
Crowded Space Competition is high when it comes to your live contest hosting business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Constant maintenance of publication You may find yourself constantly needing to update your live contest hosting business in order to stay relevant for your audience and for those searching on google.
Lack of benefits With a live contest hosting business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a live contest hosting business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a live contest hosting business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a live contest hosting business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.