Profit, albeit minimal, is a by product of promoting events - my main reason for promoting is it has been hard to match some of our fighters, and having your own event allows you to guarantee that your fighters will get to compete, particulalry as some fighters are in niche/ ranked positions - found it really hard to match hilary (world no.3), jojo (uk no.2), jordan (still 15, but currently unstoppable...), so we have had to look to Europe for opponents. In my mind though, a good event and good team performance is advertising that cannot be matched, both for the sport and the gym. If you make that shift in terminology, all of a sudden your advertising budget just went into the black! (not many businesses achieving that).
Other considerations for promoting include geographical isolation - I understand that a scottish fighter isn't going to sell a shedload of tix on a southern show, therefore there is little incentive for a promoter to invite us down south unless it is for a very specific match up, e.g. a title, or v. a local strong ticket seller, for that reason alone I am quite happy there is a bandwagon of shows..the growth in events up here has been exponential in the last few years, allowing fighters to gain much more experience in a shorter time that isn't dependent on the M6!