I've been a member of the Committee that stages the Northeast Florida Games for 5 years, and for three I have served as the Clans and Societies Chair.
Our 19th Annual Games has just concluded.
It is with that degree of experience that I say that starting a new games will take a considerable effort, a good number of dedicated (crazy?) volunteers, and a substantial amount of money. That said, it is a most worthwhile undertaking and I wish you success with it!
The number of details to be considered is staggering! You will need event permits from the local authorities. Most likely the local health department and Fire Marshal will need to inspect the facilities and issue permits.
You will need tents. Rent them at first. If the event is successful, you should consider purchasing a few each year to reduce rental costs the following year.
You will need many, many fire extinguishers. (Fire Marshals like extinguishers.) you will NOT want to purchase these as maintaining certifications is impractical for an annual event.
You may not need an attorney on retainer, but they sure come in handy. Having one, or several, on the Committee is ideal.
An accountant, or at least a knowledgeable and experienced bookkeeper, is essential.
Keep ambitions in check. Start small and expand judiciously.
Weather is a major concern. A single rainy day can bankrupt a start-up. Have contingency plans for rain or unseasonable weather.
It's a huge undertaking. I applaud you for considering it. If I can be of help, feel free to PM.
'A damned ill-conditioned sort of an ape. It had a can of ale at every pot-house on the road, and is reeling drunk. "