A fish table game business is a business that makes available fish games and fish gambling tables for patrons. This is how it works; you can win money by wagering money and taking control of an underwater cannon that fires at various marine creatures in fish games and fish gambling tables.
The fish table game business is a subset of the global gambling industry and available statistics show that the global gaming industry is anticipated to increase at a compound annual growth rate (CAGR) of 59.7 percent, from $287.43 billion in 2021 to $458.93 billion. The market is anticipated to grow at a CAGR of 18.4 percent to $458.93 billion in 2026.
Steps on How to Start a Fish Table Business
Conduct Market Research
The first stage in conducting market research for your fish table games and gambling enterprise is to create a market-based research question that is consistent with your overarching corporate aim and objective.
In this regard, you should seek out information to help you grow your business, information that will provide you with trustworthy insight into what your target market will be seeking from a fish table game and gambling business, and information that will help you develop the business to profitability.
a. Who is the Target Market for Fish Table Games and Gambling Business?
- Gamblers and gamers
- Tourists and every adult in the neighborhood where your fish table games and gambling business will be located.
b. Is Fish Table Games and Gambling Business a Profitable Business?
Yes, the fish table games and gambling business is profitable. Statistics show that the gambling business in the United States generated approximately 53 billion dollars in gross gaming income in 2021, a significant increase over the figure for 2020, which was adversely affected by the coronavirus epidemic.
c. Are There Existing Niches in the Industry?
Yes, there are existing niches when it comes to fish table games and gambling business even though fish table games and gambling business is a subset of the games and gambling industry.
- Onsite (casino and gaming facilities)
d. Who are the Major Competitors?
- Fish Game Kings
- Fish Arcade Games
- Prime Time Amusements
- River Monster
- Time Zone Games
- Big Fish Games
- Peppermill Resort and Casino
- ARIA Resort and Casino
- Harrah’s Resort and Casino
- Turning Stone Resort Casino
- Foxwoods Casino
- WinStar World Casino and Resort
- Las Atlantis
- Red Dog
- Slots Empire
- El Royale
- Planet 7 Casino
- Silver Oak
- Raging Bull
- Phoenix Casino Fish Game Table.
e. Are There County or State Regulations or Zoning Laws for Fish Table Games and Gambling Business?
Yes, there are county, and state regulations and zoning laws for fish table games and gambling businesses, and players in this industry are expected to work with the existing regulations governing similar businesses in the county where their business is domiciled.
For example, the unlawful operation of these activities is covered under California’s legislation against stakes gambling. Playing conventional table games like blackjack, poker, and roulette as well as owning gaming equipment like fish machines are examples of this.
Gambling (sometimes known as gaming) that involves “banking” or “percentage” is illegal in California according to Penal Code 330 PC. A misdemeanor conviction carries a maximum prison sentence of six months and a maximum fine of one thousand dollars.
f. Is There a Franchise for Fish Table Games and Gambling Business?
No, there are no franchise opportunities for fish table games and gambling businesses.
g. What Do You Need to Start a Fish Table Games and Gambling Business?
- A Feasibility Report
- Business and Marketing Plans
- Business Licenses and Permits
- A Good facility
- Certificate of Occupancy (CO).
- EIN (Employer Identification Number)/Federal Tax ID Number
- A Corporate Bank Account
- Commercial-Grade Fish Gaming Tables and other arcade gambling games
- Startup Capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a fish table business are;
Creative Fish Table Business Name ideas
- The Arena© Fish Table Game Center, Inc.
- Free Low® Fish Table Games and Casino, LLC
- Cool Ninja© Fish Table Game Center, Inc.
- Game Solutions® Fish Table Game Center, Inc.
- The Dome™ Fish Table Games and Casino, Inc.
- Cally Nexus™ Fish Table Game Center, LLC.
- Dark Zone© Fish Table Game Center, LLC
- Matadors Gambit® Fish Table Games and Casino, Inc.
- Star Net© Fish Table Game Center, Inc.
- Friends Zone© Fish Table Games and Casino, Inc.
- Sandy Webb® Fish Table Game Center, LLC
- Las Palmas® Fish Table Games and Casino, LLC
- Jenkin Malone™ Fish Table Game Center, LLC
- Naysa Merlin© Fish Table Games and Casino, Inc.
- Jackie Black® Fish Table Game Center, Inc.
- Big Punch™ Fish Table Games and Casino, Inc.
- Jackson Arena™ Fish Table Game Center, Inc.
- Moon Bug© Fish Table Games and Casino, Inc.
- Peaches of Blues® Fish Table Game Center, LLC
- Ferdinando Otega™ Fish Table Game Center, Inc.
Register Your Business
a. What Type of Business Structure is Best for Fish Table Games and Gambling Business?
Even though there are a number of choices, including sole proprietorship, partnership, limited liability company (LLC), and corporation, the business form that the majority of participants in the fish table games and gambling industry consider is an LLC. Providers will frequently think about forming an LLC in order to defend themselves in court.
Please be aware that an LLC will require an EIN if it is required to file any of the excise tax forms listed below or if it has any employees. The majority of newly formed single-member LLCs that are considered disregarded businesses must obtain an EIN.
b. Steps to Form an LLC
- Choose a Name for Your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on member vs. manager management.
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
c. What Type of License is Needed to Open a Fish Table Games and Gambling Business?
- General Business License
- Health and Safety Permit
- Zonal Permits
- Signage Permit
- Operational State Facility Inspections
d. What Type of Certification is Needed to Open a Fish Table Games and Gambling Business?
You don’t need any certifications to open a fish table games and gambling business.
e. What Documents are Needed to Open a Fish Table Games and Gambling Business?
These are some of the basic legal documents that you are expected to have in place to legally run a fish table games and gambling business in the United States of America;
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit and Building Approval
- Certificate of Incorporation
- Certificate of Occupancy (CO).
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Contract Document
- Company Bylaws
- Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?
Generally speaking, you might not need to register for trademark or intellectual property protection if you’re thinking about launching a fish table games and gambling business. This is true because the nature of the business allows you to successfully manage the firm without having any reason to sue anyone for using your intellectual property unlawfully in a court of law.
Cost Analysis and Budgeting
a. How Much Does It Cost to Start a Fish Table Games and Gambling Business?
A fish table games and gambling business will cost from $200,000 to $600,000 to open and that can easily go higher depending on your overall business goals and objectives.
b. What are the Costs Involved in Starting a Fish Table Games and Gambling Business?
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services totaling – $1,200.
- Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $80.
- The cost of hiring a business consultant (writing of business plans inclusive) – $4,500.
- Insurance (general liability, workers’ compensation, and property casualty) coverage at a total premium – $12,400.
- The cost of accounting software, CRM software, and Payroll Software – $1,500
- The cost of leasing a facility (long-term lease agreement) – $135,600.
- The cost for facility remodeling and installations – $100,000.
- The cost for the purchase of commercial-grade fish table games and arcades: $80,000
- Other start-up expenses including stationery – $500
- Phone and utility deposits will cost – ($2,500)
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $50,000
- The cost for store equipment (cash register, security, ventilation, signage) – $3,150
- The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephones, TVs, Sound systems, tables and chairs et al) – $8,000.
- The cost of launching an official website – $600
- The cost for our grand opening party – $3,000
- Miscellaneous – $2,500
c. What Factors Determine the Cost of Opening a Fish Table Games and Gambling Business?
- The size of the business (number of commercial-grade fish game tables and arcades)
- The choice of location
- The required licenses and permits
- The type of facility
- The cost of hiring and paying a business consultant and attorney
- The cost of branding, promotion, and marketing of the fish table games and gambling business
- The cost of furnishing and equipping the facility
- The cost of insurance policy covers
- The cost of registering the business
- Source of your supplies and ongoing expenses
- Cost of recruiting and training your staff
- The cost for the purchase and customizing of uniforms
- The cost of the grand opening of the fish table games and gambling business
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?
It is not necessary to build a new facility for your fish table games and gambling business, but, if you have the needed finance, it will pay you to build your own facility. The truth is that building or reconstructing a facility will help you to come up with a facility that will perfectly fit into your overall business goals and vision.
e. What are the Ongoing Expenses of a Fish Table Games and Gambling Business?
- Supplies (inventory expenses)
- Utility bills (internet subscriptions, phone bills, signage and software renewal fees et al)
- Salaries of employees
- Marketing costs
f. What is the Average Salary of your Staff?
- Chief Executive Officer (Owner) – $45,000 Per Year
- Game Center Manager – $36,500 Per Year
- Accounting Clerk (Cashier) – $34,000 Per Year
- Customer Service Officer (Receptionist) – $26,100 Per Year
- Security Guard -$24,000 Per Year
g. How Do You Get Funding to Start a Fish Table Games and Gambling Business
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Sell shares to interested investors
- Applying for a loan from your bank/banks
- Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
- Source for soft loans from your family members and your friends.
Write a Business Plan
a. Executive Summary
Jackson Arena™ Fish Table Game Center, Inc. is a standard, licensed, and well-equipped fish table games and casino that will be located on one of the busiest streets in Santa Fe – New Mexico. We have been able to secure a standard facility in a central location in Santa Fe.
Jackson Arena™ Fish Table Game Center, Inc. is going to become the number one destination for people who visit game centers and casinos in the whole of Santa Fe – New Mexico. We are positioned to operate a licensed fish table game center and casino and our facility will have enough parking space to accommodate the number of people we will accommodate per time.
b. Products and Service
- Fish tables games
- Arcade games (gaming machines, foosball, darts, and other games)
- Merchandise sales
- Sale of coffee, alcohol, and soda drinks, snacks, and beverages
c. Mission Statement
Our mission for establishing Jackson Arena™ Fish Table Game Center, Inc. is to contribute our quota in promoting gaming and social networking activities in Santa Fe – New Mexico, and also to make profits from the industry.
Our vision of starting Jackson Arena™ Fish Table Game Center, Inc. is to build a world-class fish table game center that can favorably compete with leading brands in the industry all across the globe.
d. Goals and Objectives
The goals and objectives of a fish table games and gambling business are to provide a facility and fish tables for entertainment.
e. Organizational Structure
- Chief Executive Officer (Owner)
- Game Center Manager
- Accounting Clerk (Cashier)
- Customer Service Officer (Receptionist)
- Security Guard
a. SWOT Analysis
- Experienced business owner and managing director
- The owner is an expert in the gaming and gambling industry
- Proactive marketing plan in place
- The owner is customer oriented
- Availability of different types of fish table games and arcade games (gaming machines, foosball, darts, and other games)
- The owner has the support and guidance of existing fish table game centers and casinos in town.
- Not enough existing clientele to run at full capacity immediately
- The owner is new to the industry
- The owner is new to large-scale marketing
- Will need a loan to build our facility
- The owner is currently running the business solo
- It will take at least 1 year to gain the experience to run the center optimally.
- Increase in the number of people leaning towards fish table games
- Existing online market.
- Loans diminish profitability until they are paid off
- First-year will be financially tight while we gain customers and pay off loans
- Competition in the area could increase
- Management of employees requires time, money, and efforts
- The county’s health department could change its regulatory status and decide to regulate fish table game centers and casinos.
b. How Do Fish Table Games and Gambling Businesses Make Money?
Fish table games and gambling businesses make money by charging clients based on the amount of time they spent playing the games, or they may charge a monthly fee for a certain amount of sessions or even unlimited use.
c. Payment Options
- Payment via bank transfer
- Payment with cash
- Payment via credit cards/Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
d. Sales & Advertising Strategies
- Introduce your fish table games and gambling business by sending introductory letters alongside your brochure to corporate organizations, households, sports organizations, gyms, socialites, celebrities, and other key stakeholders throughout the city where your fish table games and gambling business is located.
- Advertise on the internet on blogs and forums, and also on social media like Twitter, Facebook, and LinkedIn to get your message across
- Create a basic website for your business so as to give your business an online presence
- Directly market your services and products.
- Engage in roadshows in targeted communities from time to time to promote your fish table games and gambling business
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities, train stations et al.
- Use friends and family to spread the word about your fish table games and gambling business
- Post information about your fish table games and gambling business on bulletin boards in places like tattoo salons, schools, libraries, and local coffee shops.
- Place a small or classified advertisement in the newspaper, or local publication about your business
- Advertise your fish table games and gambling business in relevant magazines, newspapers, TV stations, and radio stations.
- List your business on yellow pages ads (local directories)
a. How Much Should You Charge for your Product/Service?
Most fish table games and gambling businesses charge between $10 to $40 for a session.
b. How Much Profit Do Fish Table Games and Gambling Business Owners Make a Year?
It depends, but the available report shows that on average, a store with two tanks should net more than $100,000 a year assuming they have a steady clientele.
c. What Factors Determine the Amount of Profit to Be Made?
- The capacity of the fish table games and gambling business (number of commercial-grade fish table games and arcades)
- The location the fish table games and gambling business is covering
- The management style of the fish table games and gambling business
- The business approach of the fish table games and gambling business
- The advertising and marketing strategies adopted by the fish table games and gambling business.
- The number of years the fish table games and gambling center is in business
d. What is the Profit Margin of a Fish Table game and Gambling Business?
The profit margin of a fish table games and gambling business is not fixed. It could range from 55 percent to 85 percent depending on the duration of the floating session.
e. What is the Sales Forecast?
Below is the sales forecast for a Fish table games and gambling business. It is based on the location of the business and other factors as it relates to such startups in the United States;
- First Fiscal Year: $320,000
- Second Fiscal Year: $400,000
- Third Fiscal Year: $520,000
Set Up your Shop/Office
a. How Do You Choose a Perfect Location for Fish table games and gambling business?
- The demography of the location especially as it relates to people that spend on leisure services
- The purchasing power of businesses and residents of the location
- Accessibility of the location
- The number of fish table games and gambling centers in the location
- The local laws and regulations in the community/state
- Traffic, parking and security et al
b. What State and City are Best to Open a Fish Table Games and Gambling Business?
- Los Angeles, California
- Brattleboro, Vermont
- Palm Beach, Florida
- Silver Spring, Maryland
- Rowland Heights, California
- Green Bay, Wisconsin
- Dallas, Texas
- Las Vega, Nevada
- Denver, Colorado
- Greenville, South Carolina
c. What Equipment is Needed to Operate a Fish Table Games and Gambling Business?
You should be prepared to purchase commercial-grade fish tables, arcades, fish table maintenance tools and accessories, receipt issuing machines, Sound Systems (For playing music), Point of Sale Machines (POS Machines), CCTV Cameras, and Flat Screen TVs. You will also need computers (laptops), internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves) amongst others and all these can be gotten as fairly used.
When it comes to hiring employees for a standard fish table games and gambling business, you should make plans to hire a competent chief executive officer (owner), game center manager, accounting clerk (cashier), customer service officer (receptionist), and security guard.
Launch the Business Proper
No fish table games and gambling business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening party if you are operating on a low budget or you can go for a grand opening party for all and sundry.
The bottom line is that with a proper launching of the fish table games and gambling business, you will officially inform people in your city that your fish table games and gambling business is open for business.
a. What Makes a Fish Table Games and Gambling Business Successful?
- Choose a good location and facility to launch the business
- Add additional relaxation services
- Throw a party before officially opening the fish table games and gambling business
- Be deliberate with your marketing sales approach
- Encourage the use of word of mouth to promote your fish table games and gambling business
- Leverage all available online and offline platforms to promote your fish table games and gambling business
b. What Happens During a Typical Day at a Fish Table Games and Gambling Business?
- The facility is open for the day’s work
- Customer’s requests are taken and they are scheduled or attended to (they play the games based on the time allotted to them)
- Fish table maintenance
- Marketing/website upkeep
- Supply ordering
- Administrative duties
- The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Fish Table Games and Gambling Business?
- Customer services skills
- General computer, internet, and email experience
- Interpersonal skill
- Accounting and bookkeeping skills
- Business management skills
- Bargaining skill
- Work experience in a gaming center and casino environment
- Experience in managing people
- Experience in business administration
- Experience in handling gambling-related activities and services.