Interested in small sport business ideas? If YES, here is how to start a sport business with no money and no experience. How much does it cost to start up?
Potentially Lucrative Sports Business Ideas To Start
Are you a lover of sport and you would like to start a sport business in your city? You know the sport business is a very wide industry. You have to pick a particular opportunities present in the sport business and run with it. You know what I mean.
With increasing number of sport lovers increasing daily, venturing into any of the sport business opportunities won’t be a bad idea. To let you know, no one corporate firm can take over the sport industry because it is so wide and different people with different interested in their various sport.
Before we go into how you can start a sport business, let me share with you some sport business ideas that you may not have been looking and may need to consider.
LIST OF SMALL SCALE SPORTS BUSINESS IDEAS AND OPPORTUNITIES TO START
Opening a Sport Shop
Starting this kind of sport business gives you unlimited customers as you don’t have to focus on one niche of market. As a sport shop owner, you will be selling all manner of sport equipment and wares.
You will be selling jerseys for different clubs, sport boots, gloves, baton, skipping ropes, gym equipment etc. You will be a seller to all sport lovers irrespective of whether they love boxing, cricket or football as you will house whatever sport needs they have.
A selling edge for a sport entrepreneur is siting your sport shop close to a stadium or a sport ground.
Open a Sport Academy
If you love football as a sport, you can set up your own football academy just like Pepsi Academy and other football related businesses. If it is boxing you love, you can set up your own boxing academy and train your student 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 sport magazine and begin sharing sport news to sport lovers. One amazing thing about this sport magazine business is that the sport market is too wide that one hardly sees a sport magazine still waiting to be bought.
Being a journalist is an added advantage to starting this kind of sport business. Sport magazines sells more than any other magazines after entertainment and lifestyle magazine according to statistic. This make it a lucrative business idea for entrepreneurs who will want to venture into starting a sport magazine or newspaper.
Sport Betting Company
This is another sport industry that is worth billions of dollars. People all around the world are into sport betting and owners of these sport betting companies are raking in huge millions every month.
Sport betting business is one business that has been welcome by sport lovers that companies don’t spend advertising their business. The business advertise itself because sport lovers will want to bet and make cool cash.
As far as there is a betting center in a city or locality, sport 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 outlet where people can conveniently bet for their club and other club they believe in.
Start a Sport Viewing Center
Have you visited any sport viewing center 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 most especially during Champions and UEFA league.
Whenever there is a football match, viewing centers are always full because sport lovers have to either support their clubs or just want to entertain themselves. Starting this kind of sport business means you will be making money on a daily basis.
A sport viewing center can be started with little capital and by any average person who is really determined to own a sport viewing center.
Start a Sport Local Club
This is one way of getting into the sport industry and become a big player. This sport 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 a wide market attention.
This business can be run on a part-time basis. It can be open only during weekends from 8am to 5pm as you wish. So, it can be a side business as you won’t get daily customers like for other sport business.
How to Start a Sport Business and Make Good Money?
Now that you have been shown other various sport business opportunities, let me give you a guide to how to start any sport business of your choice.
Draw Out a Plan
Remember, no business succeed without careful planning. If you must run your sport business successfully, you have to draw out a plan known as your sport business plan. You may not necessary need it for business loan but as a guide as you launch your business.
With so many sporting activities occupying the minds of sport 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 sport business you will be starting, you will need good marketing strategy to get your target market attention.
You can make use of social media platforms, blogging, PPC, billboard and TV/Radio advertising medium.
This is very important so you don’t get disturb by appropriate authorities. Get the necessary license and documents needed to run this kind of business. Get your business registered too.
Manage Cash flow
Run your business so well by setting a good inflow and outflow of cash so your company don’t run into extinction. If bookkeeping will be too much of a task, you can hire a freelance accountant to handle your bookkeeping.
So, here you have it. How to start a sport business. With all these now known to you, you have no excuse why you should not be thinking of launching a sport business after reading this post. Good luck!