ONLINE LOTTERY COMPANY BUSINESS PLAN GUIDE
Online lottery business is basically an online gambling based business. In another word it is simply a business concerned with placing bet on a certain amount of money. Lottery begins with placing bet on either a match or selecting a number from pools of numbers to win a certain amount of money.
I am presenting to you in this article a sample business plan for an online lottery business that would guide you in creating a good business plan for your business.
Here is a sample business plan for starting a lottery business online.
BUSINESS NAME: Lucky Digit Lottery
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
LuckyDigit lottery is a company that has fulfilled all the legal requirements for starting a business in New York, United State of America. The business would do all within the law especially issues concerning permits and licensing so as to be able to carry out its operations.
Nathan Moor will be the both the owner and manager of LuckyDigit lottery, which will be located in New York, United State. He has realised a total sum of $2,000,000 from his personal savings and from sales of some of his material assets. The remaining $1,000,000 will be borrowed from the bank, to complete the startup fund which amounts to $3,000,000.
Our Product and Services
LuckyDigit lottery will offer the best online gambling service, where everyone playing in New York, United State and the whole world will win irrespective of how much their bet is. Our headquarter will be stationed in the heart of New York, United State. And our services would be opened to all interested individual in the world.
Our vision in the lottery industry is to build the biggest online gambling industry and be rated as the best not just in the United State alone, but in the whole world.
Our mission is to build a standard online lottery business, which will be rated as one of the best in the industry. And also to make us the best option for gamblers all around the world.
Since the structure of a business defines its success, much attention will be placed on how we set our structure. Our recruitment program will be done critically and we will make sure we are recruiting only the best. Having a little knowledge of operating computer would be an added advantage. Customer interaction would also be a key factor to consider when recruiting.
The lottery business is a business that requires great skill and concentration from the workers. You could easily loose all your investment if your staffs keep committing errors. When business is handled rightly investors stands a chance to make a whole lot of money.
One other trend in the gambling business involves some placing bets and end up winning lower than their bets, this is to our own advantage
Lottery business has one of the widest markets especially in the United State and even beyond. So our target market is very wide. It is good to note that lottery or gambling is only made eligible for age 18 and above, below are some category of people we’ve chosen as our target market;
- Civil Servants
- General public
Sales and Marketing Strategy
With the help of the best business developer we’ve secured we are sure our business would be handled in the best way possible. And this will also help us when dealing with the competition in the market.
Below is the method we’ve devised for marketing our business:
- Reputable news media in the United State will be judiciously used. News media like the Television stations, Radio stations, and the Newspapers or Magazines.
- We will also be placing our boldly written billboard in major area of the city, fliers will also be distributed.
- Gambler or those patronizing us will have a unique referral code as this will increase their earning
- We will extensively be using the internet in promoting our business, both far and wide.
- Our business will also be listed on the Yellow page’s ads.
- The social media will also be used to link users to our business.
Source of startup Capital
We will need a minimum startup capital which amounts to $3,000,000. This startup fund will be used for the following:
- Purchase of sets of computers
- Registration of our business
- Purchase of other important equipment.
- Purchase of internet subscription for the first 3 years.
We have been able to actualize a total sum of $2,000,000 from personal savings of the owner, while the other $1,000,000 will be sourced as soft loan from the owner’s bank.
LuckyDigit lottery although new in the business will not be left behind in development. With teams of highly experienced professional we are not going to sit behind and watch others lead, instead our aim to beat other will push us to achieve more.
Above is a sample and standard online lottery business plan sample, which will bear the name LuckyDigit lottery.
This business will be owned by Nathan Moore who has successfully invested in some profitable business. The startup capital will be sourced from the owner and his bank