Don’t forget you have to actually sell all tickets to get these numbers. Usually I see them only selling half of it. So I wonder how can they keep it running with losses ?
EASILY DIY BUILD Your Own Raffle Website: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-tRVAIOfijD0.html PREVIEW THE DEMO HERE: competition.demo.getfoundni.co.uk/
Great video and info 👍 the trick is finding a road to market! You can have the best thing in the world but if you do not no what the road to market is it never takes off.
A new business will surely have to factor in way higher advertising costs. Delivery of cars will be really expensive too. Load of other costs I’d imagine too like email marketing and sms marketing. It looks like an easy business model from the outside but I bet it’s hard (and expensive) to begin with!
Hi, yes usually the prize is bought before the raffle, tickets are sold and then a number is drawn randomly live on stream. Check out their RU-vid channel to see how they do it
Im unsure if they advertise on facebook, I just mentioned marketing as a whole. But I see adverts for skill based competition websites on Facebook all the time from lots of different companies with the same business model
If they are making that much they would be paying vat on there income. Not on buying the product as you could claim that back as expense. Think the VAT threshold in the uk is around 85k turnover
To my knowledge, "Skill Based Competition" Websites are legal across the UK. A lot of companies register their company in England due to it being clear in the law that it is legal, if the users answer a skill based question and also have a free entry route, such as a free postal entry. You can usually see in the terms and conditions of these websites exactly how they meet the requirements of the law.
Are you raffle videos for Americans to? I’m about to do a raffle and seeing all these laws I never knew existed! Like gesh can I just do a raffle 😂🤦🏾♀️
Hello, I just know my local laws I'm the UK and Ireland that it's fine but I'm not sure what way you have to run it in America. Take a look at some competition out there and see how they swing it!
It's all social media promotion and engaging with your audience, maybe making yourself unique in a way will also help differentiate your site to anothers
It all sounds great... But in most countries in the EU it is illegal... it is gambling.. It is allowed in combination with a very expensive license and a lot of rules! ""POEF"" (revenue model)
Can you operate as a sole trader and run these types of website for the first few months? I don't want to start by registering a company until I see some interest and know its a successful business model.
