Make Money Bowling
If you are interested in how to make money bowling, then there are several things to consider.
As Americans, we live on a monthly budget to run households and pay bills. Money to spend on recreational activities usually comes under the budget heading of “disposable income.”
If you are a regular tournament bowler competing for prize monies, the possibility exists of earning more money than you spend to get the money. If you earn more than you spend, just as in running a household budget, then you will make a profit.
You can increase your profit by running a “tight money spending ship” or by holding fast on spending and increasing your earnings, or both.
It might be useful to establish a bowling budget, like you would to run your household each month, and forecast how much money you will spend on bowling related activities so you do overspend but also to not get caught short on paying bills other than bowling activities.
Here are several bowling budget bullets you can use as category headings to get you started:
1. allocate money for each month for league fees.
2. allocate money for monthly practice games.
3. allocate money for equipment purchases to include typical pro shop retail items.
4. allocate money for possible tournament participation.
5. create a spreadsheet to document projected expenses and a column to denote actual expenses once they are incurred.
6. expect a 1099 Tax Form for earnings from tournaments for $600. or greater. Tournament officials report the payouts to the IRS accordingly.
7. document on your spreadsheet tournaments and league earnings.
8. document entry fee expenses, practice game monies, travel expenses, food, lodging, equipment purchases, and pro shop services related to the given event or events you enter and where you spend money.
The purpose of establishing a monthly bowling budget is to make sure you plan for expenses other than merely weekly league fees or practice monies.
Most bowers never factor in the transportation costs for routine trips to the bowling centers, as example.
It is important to know how much you spend monthly and annually on your bowling activities in relation to your forecasted discretionary income.
Bowling expenses can add up over the course of time.
If you are one who participates in leagues and tournaments as well as other family members, then establishing a budget will help you identify precisely how and when your money is allocated for bowling.
Compare the earnings from leagues and tournaments to your yearly expenses so you know if you make money bowling.
Sometimes using a frugal method of monitoring your spending might lead you to producing a positive profit margin and receiving the return on investment you see.