Question

Identify a local sporting event (NY,NJ,CT) and develop a preliminary budget. How would you go about estimating revenues? How could you estimate expenses?

Answer 1

We can arrange Football Matches between Local Teams in NY, NJ, CT and set a Preliminary Budget for the same.

Requirement-

How would you go about estimating revenues? -

We need to Estimate Various sources of Income to successfully run the Event of Football Matches.

Following Types of Sources can be available to estimates the revenue:

Registration Fees, Sponsorship, Funding from Local body, Bar Sales, Canteen Sales, Spectator Entry Fees.

How could you estimate expenses? -

In the case of Expenses also, we need to Estimate Related Expenses to run the Event without any iterruption, following types of Expeses need to be estimate:

Advertising, Catering, Equipment, Printing, Officiating, Trophies and awards, Venue costs, VIP Hospitality .

Sample Budget as per following:

Income Bar Sales Canteen Sales Funding from Local Body Registration Fees Spectator Entry Fees Sponsorship Total Event Income Expenditure Advertising Catering Equipment Officiating Printing Trophies & Award Venue Cost VIP Hospality Total Event Expenditure Surplus Amount In $ 5,000 4,500 3,000 2,000 500 1,500 16,500 Amount in $ 1,500 2,000 4,000 1,200 800 2,500 3,000 600 15,600 900