Buy a poker chip set.
The most realistic affordable size is 500 chip 11.5 gram (0.4 oz) weight set. A 1000 chip set will easily allow you to host a 2 table 20 player tournament. You will need a minimum of 8 players and a maximum of 20 depending on your poker chip set.
Start the blind at 10-20.
Then, every 15 minutes, raise them. This way the tournament doesn't run all night. If your chip set has more than 3 colours, assign the extras to large chip amounts like 500 and 1000. This way you can colour up and remove the smaller chips.
Keep the buy-in (entry fee) reasonable.
You don't want to discourage people from joining. A $5 entry is reasonable to most who play poker.
Pay out the players
Prize pool payouts should be as follows; 50% to the winner, 30% to second place and 20% to third place. If you are having a 2 table tournament (20 players) you could make the top 4 players winners.
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