selling advertising space to fund startup

[Rickmorris]

Hi all

Its my first post and have a couple of questions. I have an idea for a new entertainment business which would require a large town centre premises. It would also need a lot of start up funds. I think there could be 1000 to 1500 plus customers per week family's and all age's . My first question is could i sell adverting with in the premises to raise funds to open the business ? I was thinking adverting boards inside so customers could see them also have a screen in the main window displaying the adds as well, there would be no time limit to it so the board and add would be there as long as the business was running. Is this a stupid idea ? If its not crazy what could i sell said space for £ ?

will more than likely be more silly questions as i go
thanks
rick

 

[Mr D]

You could try selling advertising space to offset some of your costs. A fraction of your costs, a small fraction.

Without numbers of actual customers you don't know how many will see an ad. So would be a low figure you could charge until you can say 'we have 8000 footfall a week'.
I could put an ad in front of 8000 for a few hundred a year.

When you are open and you have figures to use then its maybe worth selling a little ad space to slightly help with ongoing costs.

To fund the startup? Cannot see how you could get anything cost effective.

 

[Mark T Jones]

You probably can, but should you?

Why do you believe that your time and resources are better spent selling advertising than working on your business? Advertising is a tough sales environment - certainly not easy!

 

[finleydesign]

I have an idea for a new entertainment business which would require a large town centre premises. It would also need a lot of start up funds.

Don't wish to pee on your fireworks, but you may want to step back and look at the bigger picture, if this venture is going to require a large premises a a lot of startup funds, then by virtue of not knowing how and what to do to raise funds is really your first major hurdle

You wouldn't get a penny from anyone nor will you really understand how to make this business a success without a water tight business plan which shows you have every t crossed and i's dotted.

If this venture if not just an idea but something you have analysed and can show to a bank manager how it will work, they will lend you the funds, you can then use advertising to help with cash flow but as above it would be so small it might just cover the heating bill!

Get a business plan done and understand the business completely, something that requires this level of commitment and funds means you shouldn't really be in a position where you need a forum to advise you

 

[Rickmorris]

Thank You for your comments , i'm just brainstorming ideas at the moment some are good some are not. I am working on my business plan which I've not done before. thx