Interested in small boxing club business ideas? If YES, here is how to open a boxing club business with no money and no experience. How much does it cost to start up?
Although profitable, boxing club’s business comes with a price, which is in the form of high cost required for take-off. This is a capital intensive business but as long as you have the proper guidance and consult the right places, you are sure to be successful in your bid to opening a thriving boxing club business.
Being an age-long sport, it has metamorphosed into a highly prized and thriving sport, with representations in the Olympics and Commonwealth Sports, and has its several events and title fights where big prizes are won worldwide.
There are crucial questions to be asked by any investor before setting up any thriving boxing club business. These questions have to be satisfactorily answered before such a business venture is entered into.
Some of the questions that need to be asked include the following; are there enough potential boxers to join your club? How much does it cost to set up a boxing club business? Does your area have available clubs where you can seek knowledge and advice from? How do you get the capable hands knowledgeable enough to run this business? etc.
A Boxing Club Business Plan
This the life-line of any business venture. For a boxing club business which is capital intensive, a business plan has to be in place. This business plan should contain realizable projections of the business, the targets or goals set for the business and also include the payroll and expected profitability.
Also, the equipment needed and the cost of business setup should all be factored into this document.
Affiliation is critical to boxing club business. To achieve any meaningful growth, this relationship must be in place. This is what adds more credibility to boxing clubs. This affiliation is solely that which consists only of National Governing Bodies and boxing clubs.
Why are National Boxing Governing Bodies so critical to the success of Boxing Club Businesses?
Simple! It’s because they take responsibilities for running and managing, and also the development of services for this sport.
National Boxing Governing bodies also organise national competitions and also choose teams for international boxing tournaments. Their influence also covers guidance and support for local clubs.
With these functions of National Governing Bodies, it clearly shows why boxing club businesses need this alliance to move forward, as these boxing clubs will be able to enter competitions, coaches will get training and qualifications and also, they will be in the bigger picture of boxing affairs.
In order for boxing club businesses to qualify for affiliations, they are charged a fee. This benefit qualifies the clubs for support towards development and for funding applications especially if the club and members are serious.
Boxing Club Constitution
Boxing club businesses require a constitution which governs the activities of boxing clubs such as spelling out clearly the functions of the club and also, the guidelines for membership, meetings and committees. The constitution is also a criterion to qualify for several aids and grants. This constitution should not exclude certain people based on discriminatory grounds.
Promotions and Public Relations
In order to grow its number of members, new boxing club businesses and even the old ones can follow the simple processes below;
1. Raising Awareness
This is so important to the growth of new members for boxing club businesses. Quite of large number of people with interests in this sport may not know about the availability of a boxing club within their neighborhood.
The creation of awareness can bridge this gap. And this can be carried out through the use of social media such as creation Facebook pages, advert in coffee shops and commuter train stations among several options.
2. The Use of Current Members
A club’s current members can be a critical tool in spreading the word. They can be used in spreading the word to their associates, family members, and friends through word of mouth. An incentive can be given to them for this.
3. Spend Money to Advertise
The importance of advertisement to boxing club business cannot be over-emphasized. Money should be spent to advertise in local newspapers, at railway stations and at local radio stations. This always has a positive effect on business as it will most likely affect the club’s member’s base positively.
To open a functional boxing club business, equipment need to be purchased. You should make adequate inquiries about funding for the purchase of equipment needed for the boxing club. It will do well to have planned for this, especially in making sure you have the required net-worth to qualify.
This is because most funding sources would only provide financing when you have the ability to pay up.
Management and Administration
The proper management and administration of any boxing club business is vital to the survival of such a business. The day to day running of the club is efficiently carried out and strong ties are formed with local authorities. For a boxing club business to run smoothly, it needs the following;
The Club Committee
This committee is elected to run the affairs of the club, with individuals taking on different roles. The committee’s main roles are usually the provision of excellent services to members, and as the club grows, there might be sub committees charged with taking responsibilities for the efficient running of other aspects of the club.
Usually, the club committee is made of three elected officials who include the chairperson, the secretary and the treasurer. Other positions may arise based on need.
Volunteers are indispensable to boxing club business success as they form the life-line the club relies on. Although difficult to train, but once trained they form the bedrock on which boxing clubs rest.
Their real worth is most evident especially when people’s time becomes more valuable to them. They step in to help whenever there is shortage in manpower. Most of the work carried out at the background is done by them.
In order to get this critical help, you first of all need to identify why you need volunteers, when you need them and where you need them. Once these conditions are met, you are most likely to find people offering their services. It will do well to put in place a reward system to reward them for services offered.
Boxing club business as can be evident requires several criteria for its smooth take off and eventual growth. To achieve profitability, discipline and hard work is essential to its realization and eventual success. It is a business that has the potential to reward you if you are willing to put in the work required for sustained profitability and growth.