Some promoters like the two pictured above became fantastically rich and successful with their antics. Vince McMahon is a billionaire. And ex-con Don King climbed the ladder of success to became a centimillionaire! But how many broke bankrupted promoters do you have for every successful millionaire promoter? Many says that starting a wrestling promotion is a sure way to bankrupt yourself. However, a study made in 2013 shows us that the average American fight promoter earns $52 000 a year (not counting the non declared revenues).(source) Not that bad for being your own boss and doing what you love!
Event Marketing / Promotion Guidelines
The following are from the on-screen character of Mr. McMahon (which, from sure source, is the same as the real-life off-screen Vince McMahon.)
Ruthless Aggression. Offered more money to buy-out the best wrestlers of rival wrestling promotions. Singlehandlely destroyed the era of wrestling territories to built the WWE into a global wrestling monopoly.
Marketing Savvy. Just think about the yearly WrestleMania extravaganza.
Creative Genius. Created several characters over the years in the WWF/WWE.
Mind Manipulation. Useful in any business negociation. That's the reason why Mr. McMahon hate attourneys so much. And that's the reason why Vince McMahon doesn't a wrestler to bring his lawyer when he negociates a contract.
"Doing what's best for business" is the only way to go in any business venture.
No Ego. When it come to offering the fans what they really want. Vince McMahon have no ego, sort of speak.
Despite years of disputes and lambasting with Hulk Hogan, Ultimate Warrior, Bret Hart, Bruno Sammartino. Vince was always willing to take them back into the WWE one way or the other.
Despite the fact that post WCW debacle, Goldberg and Scott Steiner publicly stated that they will never work for the WWE and made distasteful remarks about the WWE product and Vince McMahon himself respectively. Vince signed both of them.
Vince McMahon priority was and is to offer the fans what they really wants.
He was willing to give the Ultimate Warrior what he wanted for the show to goes on. And he was willing to re-engage The Ultimate Warrior despite his unprofessional conduct and his uncooperative attitude.
And most of all, Vince McMahon signed his former nemesis during the WWF vs. WCW rating war, Eric Bischoff. The same who promise to run Vince McMahon out of business.
From the same sure source, Vince McMahon IS:
* Pay close attention to Details
* Tireless Workaholic. Work 40 hours a day.
* Always open to new ideas
Vince always has the last word on EVERYTHING.
As a promoter YOU ALWAYS need to have a plan B just in case thing doesn't goes as usual. In event marketing and promotion the worst case scenario is usually the one to deal with. So expect the unpredictible.
The legal question is an essential aspect of being a fight promoter. Print the following text, read it carefully and keep on hand.
So if you ever run a promotion make sure you are insulated against fans and lawyers and wrestlers trying to cash in on you:
Some of the things you can do to insulate yourself are:
1. Incorporate your company.
2. Video the entire show, date it, and and get some one to sign and witness that there were no injuries or incidents. And save it for at least 3 years ... Or whatever the State requires.
3. Have barriers between the show and the fans.
4. Have waivers for all participants.
5. When you pay out the wrestlers and crew have them sign a receipt that also states there were no injuries or incidents.
6. On the waivers and receipts have them include Accurate names and addresses and phones ... and a parent's name and address and phone in case you have to find them later.
7. Keep a pile of afidavit fors handy that can be signed by witnesses in case anything happens that can be the basis for a lawsuit.
8. Keep a calendar that lists the dates and locations of every show you do. So if somebody tries to sue you later you can ask for a letter stating what happened and when and where and what time, and to list people who were there and
Hopefully you will never have to use any of this, but if you do, you will be at a tremendous advantage.
Also, if a lawyer phones and asks questions, tell him to put it in writing ... but do not tell him anything.
Some really interesting books for much needed ideas and inspiration.
SO YOU WANNA BE A FIGHT PROMOTER!
There is also a couple of more or less "reputable" "legit" courses to become a fight promoter.
I don't think Vince McMahon neither Don King attended any of these courses and seminars to become a fight promoter.
What about becoming a rock concert promoter?