SPORT COMPANY BUSINESS PLAN GUIDE
Are you a lover of sport and would like to start a sports business in your city?
You know the sports business is a vast industry. You have to pick a particular opportunity present in the sports business and run with it. You know what I mean.
With the increasing number of sports lovers increasing daily, venturing into any sports business opportunities won’t be wrong.
To let you know, no one corporate firm can take over the sports industry because it is such broad and different people with different interests in their various sports.
Before we go into how you can start a sports business, let me share some sports business ideas that you may not have been looking for and may need to consider.
Here is a sample business plan for starting an indoor sports facility, sportswear business.
Opening a Sport Shop
Starting this kind of sports business gives you unlimited customers as you don’t have to focus on one market niche. As a sports shop owner, you will be selling sports equipment and wares.
You will be selling jerseys for different clubs, sports boots, gloves, batons, skipping ropes, gym equipment, etc.
You will be a seller to all sports lovers irrespective of whether they love boxing, cricket, or football as you will house whatever sport needs they have.
A selling edge for a sports entrepreneur is sitting your sports shop close to a stadium or a sports ground.
Open a Sports Academy
If you love football as a sport, you can set up your football academy just like Pepsi Academy and other football-related businesses.
If it is boxing you love, you can set up your boxing academy and train your students to be one of the best that people will be looking for.
Start a Sport Magazine or Newspaper
If you have always wanted to own a media enterprise, you can start up a sports magazine and begin sharing sports news with sports lovers.
One fantastic thing about this sports magazine business is that the sports market is too broad that one hardly sees a sports magazine still waiting to be bought.
Being a journalist is an added advantage in starting this kind of sports business. According to the statistic, sports magazines sell more than any other magazine after entertainment and lifestyle magazines.
This makes it a lucrative business idea for entrepreneurs who want to start a sports magazine or newspaper.
Sports Betting Company
This is another sports industry that is worth billions of dollars. People worldwide are into sports betting, and owners of these sports betting companies are raking in massive millions every month.
The sports betting business is one business that has been welcome by sports lovers that companies don’t spend advertising their business. The firm promotes itself because sports lovers will want to bet and make cool cash.
As far as a betting center in a city or locality, sports betters are always drawn to check which game will be played next and may want to try their luck by betting.
The best way to promote your business is by having an outlet where people can conveniently bet for their club and other clubs they believe in.
Start a Sports Viewing Center
Have you visited any sports viewing centers in Africa? It is never empty.
I don’t know of other countries, but I am sure owners of viewing centers are having a good time with the business, especially during the Champions and UEFA leagues.
Whenever there is a football match, viewing centers are always complete because sports lovers have to either support their clubs or want to entertain themselves. Starting this kind of sports business means you will be making money daily.
You can start a sports viewing center with little capital, and by any average person determined to own a sports viewing center.
Start a Sports Local Club
This is one way of getting into the sports industry and becoming a big player.
This sports business is for those with lots of money because it requires self-funding at the beginning. Until your club become known and start winning trophies, you will have to be doing the funding yourself.
This is a good business if you are a visionary business person that can play the long-term game because this was how big clubs like Manchester and other top clubs started.
Start a Swimming School
If you are a good swimmer, you can open a swimming school where you teach people how to swim.
Apart from swimming for sport, others still swim for pleasure or fun. So, you have wide market attention.
You can run this business on a part-time basis. It can be open only during weekends from 8 am to 5 pm as you wish. So, it can be a side business as you won’t get daily customers like other sports businesses.
How to Start a Sports Business and Make Good Money
Now that you have been shown other various sports business opportunities let me guide you on how to start any sports business.
Draw Out a Plan
Remember, no business succeeds without careful planning.
If you must run your sports business successfully, you have to draw out a plan known as your sports business plan. You may not necessarily need it for a business loan but as a guide to launching your business.
With so many sporting activities occupying the minds of sports lovers, you will have to fight the battle of getting their attention towards your business. The rule of the game is to get and hold their attention.
No matter the kind of sports business you will be starting, you will need a good marketing strategy to get your target market’s attention.
You can use social media platforms, blogging, PPC, billboard, and TV/Radio advertising medium.
This is very important, so appropriate authorities don’t get disturbed. Get the necessary license and documents needed to run this kind of business. Get your business registered too.
Run your business by setting a good inflow and outflow of cash so your company doesn’t run into extinction. If bookkeeping is too much of a task, you can hire a freelance accountant to handle your bookkeeping.
So, here you have it. A sports business plan. With all these now known to you, you have no excuse why you should not be thinking of launching a sports business after reading this post. Good luck!