There's no doubt, for magicians and other kids' entertainers, it's not hard to find ways to spend your business cash. As well as a plethora of awesome props and effects, you can invest in a PA, a backdrop, photography and video, website, books and tutorial DVDs, vehicles, advertising, and a miscellany of other bits and pieces. Not forgetting the ongoing costs such as gas (petrol), consumables, maintenance and repairs, etc.
What do you consider the essentials which seem to soak up the body of your spending?
Do you: invest the smallest possible amount to keep your business running; invest as much as you can possibly afford, in order to help it grow; put aside a specific amount from your gross income for costs? How do you look at your business spending?
If you won $5000 to invest directly into your business, what would you spend the money on?
Potty

That really depends upon your situation and what you need at any given time. For example, I am fortunate in that, early on, I (quite by accident) purchased an extremely good and reliable sound system; so, I never need that again. Similarly, I am now in a position that I am not looking for more props, but rather trying to get rid of all my large illusions. Other people may be in exactly the opposite situation than me.

I think that money is almost always well spent on proper advertising (direct mail, web site, etc.) Promotional photos are something that I think get overlooked and should be updated frequently. Show clothing is also an item I think is a good investment.

Professional photography and video production. Maybe a trip to a convention, it's been a while since I've been to one. They're good for recharging the batteries.

I just decided to upgrade my clothes for the differend performance situations and I am sure to have enough props.

Advertising, advertising, advertising.

Topless dancers....think of the gigs you'd get if you advertized "magician performs while topless dancers romp around him....", you could charge a lot and they could get tips.

Potty is the best magician here. I counted 20 THOUSAND DOLLARS worth of props on your website. I don't know if you have backup/replacements but that would be another 20K...that's almost a 50% down payment for a 3 bedroom house in middle America yet your numbers add up. I salute you my friend, I salute you...

HH

I just bought the complete set of Rice's encyclopedia of silk magic, and I plan on coming up wirh a new trick, or two that nobody else here does.

Al,

your zeal got me to get my rice books off the shelf while I watch preseason football. Speaking of presto on another thread, he did a trick with a newspaper and silks that fooled me very badly...later I found that they are in Rice's encyclopedia! Enjoy my friend.

HH

I spend on those things which I feel will produce the greatest return on investment. In 95% of the case, it's about marketing.

Remember Hank, Potty is in the UK, so that is around $30,000 worth of equipment per show. Say, doesn't Scott Burton have a nice photo? Very good sir....

Even though a lot of people concur with my first post, after reading what Santa said I think I change my mind. Topless dancers it is. Now, as far as getting tips, that reminds me of a very funny joke that I can't tell here ... but maybe if you PM'd me ....

Advertising. Possibly a little carefully placed. But in general, I think not.

Much more effective would be well considered Public Relations. More effective than advertising.

You see people believe PR far more than obvious advertising. And certainly at the modest investment levels we are discussing here.

Unfortunately, it needs to b sustained and maintained. A one off flash in the pan can only work for a short time.

I invest in tightly targeted PR and it is ongoing.

In the last two years I've spent money on;
Jeff Jones magic back drop. Really gives a "show" feel to the performance.
Quality car graphics. Imagine the cost of a billboard that size!
New sound system.

But my favourite is my custom built dragon puppet. I now have something that is unique to put on all my advertising.

I would also get the jones backdrop and a bigger sound system for schools and a bigger set of fakinis.

Jim

I would use it to help buy an already built Zig Zag illusion.