How do Promoters Make Money in Boxing?
Promoters are in charge of paying for anything involved in a match and in setting it up. All financial risks and responsibilities are also set upon them. Nevertheless, a huge profit is brought in to them by the fight in boxing and in promoting it.
Stakeholders are doing everything possible to minimize costs and benefit more from a publicized fight. It is in being great promoters that they get paid a lot of money. Below are the significant ways on how do promoters make money in boxing.
Collect Money by Selling Tickets
In a boxing fight, it is not only the boxers that are the ones who make money. The promoters are making all the efforts that enable them to get money from it. For instance, the payment is between 500,000 dollars to 2 million dollars, depending on the size of the fight. If the tickets are sold on the secondary market, a portion of the payment also goes down to the pocket of the promoters.
When the event is put in the right place, it can be marketed by the promoter. The excitement and fun of the event are also promoted to the audience by the promoters. This is also the reason why they earn money from it. This is an excellent example of how promoters make money in boxing.
Get a Share from the Purse Money of a Boxer
Another unique way that promoters make money in boxing is by getting a share of the purse money of a boxer. If a boxer already has received his or her money, he or she will now give the promoter a fair share of a maximum of thirty-three point three percent in the United States. The share will not be used to pay for cutmen, trainers, or others. The amount will be solely obtained by a promoter that invests much of his efforts, time, and money in boxing. The sum of money earned varies wildly. A typical boxer will receive less than half of the gross pay after paying a promoter and all his taxes.
Similar Articles
Make Money by Way of Sale of Pay-Per-Views
In the boxing business, a television service provider, the pay-per-view usually purchases the boxing event to be viewed via private telecast. Viewers are thereby allowed to see the recorded broadcast of boxing.
In the fight that is priced at 49.95 dollars, or 50 dollars where HBO pay-per-view is used, it will never be a party that will be at risk as far as the fight is concerned. It will somehow take the ten percent fee of $5. Now, the cable companies and promoters will wind up with 22.50 dollars.
If a fight sells millions of PPV subscribers, HBO PPV arm will earn 5 million dollars. The promoters will now earn 22,500,000 dollars. This is just strictly a way that promoters make money in boxing.
Recommended Articles
- Starting LA Boxing Franchise
Opening an LA Boxing franchise is the perfect opportunity for those people that wish to engage in their own financial independence and start a company. LA Boxing’s goal is to provide the best and quality boxing, kick boxing and mixed martial arts training in the country. This is because of their strive to promote health and wellness to the members of the club. - Starting Your Own Kickboxing Store
Are you starting a kickboxing store? You will benefit greatly by developing a business plan. The plan will cover all the areas of the business which will make it easier for you to start a local store.
Comment
Categories
- Franchise Opportunities
- Wholesale Business Opportunities
- Small Manufacturing Business
- Farming Business Ideas
- Unique Business Opportunities
- Shop Business Ideas
- Small Business Opportunities
- Startup Company Ideas
- Home Based Business Opportunity
- Rural Business Opportunities
- Tips for Buying and Selling
- Starting Rental Business
- Ideas for Small Business
- Free Business Ideas
- Internet Business Ideas
- Store Business Opportunities
- Entrepreneur Business Idea
- Retail Store Ideas
- Service Business Ideas
- Advice for Small Business
- Financing a Small Business
- Restaurant Business Opportunities
- Small Business Articles
- Business Marketing and Advertising
- Repair Business Opportunity
- Professional Career Opportunities
- Business Insurance Information
- Instructor Guides
