How to Start a Fish Table Business

Pinterest Facebook

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
Socialites
Students
Migrants
Celebrities
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.

Online
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
Employees
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;

DBA
EIN
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
Online Terms of Use
Online Privacy Policy Document
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
Maintenance
Insurance
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
Gambling
Arcade games (gaming machines, foosball, darts, and other games)
Foodservice
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.

Vision Statement

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

Marketing Plan

a. SWOT Analysis

Strength:

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.

Weakness:

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.

Opportunities:

Increase in the number of people leaning towards fish table games
Existing online market.

Threat:

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)

Financial Projection

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.

Hire Employees

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.