Getting a tournament up and running

[Anusien]

Hi, I'm trying to get tournaments started at a local store.  I've lived in a dead spot for a while, so I need some advice.  What's a good prize payout/price for a tournament starting out?  I'm assuming 16 players max, and prizes will most likely be in boosters (that can hopefully feed into a draft, especially if the format doesn't end up being T2).  Is there some good alternative to giving boosters away as prizes that will still allow the store to make a profit?

Speaking of which, what's a fair price for a draft set?

[rvs]

Add 1.5 boosters to the prize pot for every entrant. In the end, make sure about 1/3rd of the people walk away with some sort of prize. That usually works pretty well for local tournaments.