Great business ideas for athletes

Any athlete would want to translate their passion for sports into a lucrative money-making venture. The industry is obviously a huge one with many niches to test out one’s entrepreneurial skills.
Hereunder are some advice on how to channel your know-how of sports into a successful business endeavor, courtesy of sports entrepreneur Tyler T. Tysdal.
Image source: smallbiztrends.com

First, keep in mind that the niches in the sports industry can be generally classified into sports management, sports equipment, and media marketing and advertising. That said, the sports equipment type can be pursued by opening a sports training facility , which will house various gear for both sports enthusiasts and athletes. You’ll charge a fee for access to equipment for either multi-purpose use or those specific to a sport, like swimming, weightlifting, or golf.

If you have the capital, you can aim higher and go for founding your own sports team or club, which you can then develop and enlist in various competitions. There are, for example, many martial arts teams that are owned by private individuals. The success of which, and provided you have a group of like-minded athletes to put in money, can even lead you to establish a sports academy for training and honing the skills of younger athletes.

Image source: blog.fivestars.com
Some athlete-entrepreneurs focus on starting a recruitment agency to scout instead for up-and-coming talents for clubs, from basketball to football. This will also give you the perk of traveling in and out of the country.

Finally, if your main goal is to share your skills and experience to the next generation, the most popular venture for athletes who’ve retired is to become a sports coach. You will focus, of course, on the sport you’ve played. You can begin this by setting up small, summer clinics until you get students. Down the line, this may lead you to a full-time coaching work or sideline coaching jobs in established sports teams, Tyler T. Tysdal adds.

Seasoned entrepreneur Tyler T. Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. More on Mr. Tysdal and his work here.

Comments

Post a Comment

Popular posts from this blog

Sports business: What the best sports managers have in common

Image
Image source: buzzsouthafrica.com A huge part of sports is management, which is why sports managers are incredibly significant figures in the industry. They handle quite a number of affairs behind the scenes. Sports managers negotiate contracts, organize media exposure, market events, and promote their clients. They have a huge influence on the tides of an entire professional season, especially if people consider how much superstar athletes trust them. But being a sports manager isn’t for just anyone. Tyler T. Tysdal explains that individuals who become sports managers and excel at it are committed to the endless hours, long trips, and stresses that come with the job. And even with all the issues and problems they face, sports managers are still composed and still focused on the prize, which is to land the best deals they can for their clients. The best sports managers are also expert negotiators. They have to be for them and their clients to get ahead. They are great
Read more

Planning for an exit strategy amidst an M&A

Image
With extensive experience in entrepreneurship and investment, Tyler T. Tysdal has amassed a wealth of knowledge through the years. And through his series of blogs, he tackles various topics in and around business and investment. Image source: cosmeticsdesign.com For this blog, Tyler T. Tysdal touches on planning for an exit strategy – amidst a merger or acquisition. Before anything else, exit strategies need to be part of the business plan. This means that even before businesses are set up, owners already have an idea of how to preserve either the growth or assets of their business. Tyler T. Tysdal notes that there are several ways to go about planning for an exit strategy amidst a merger or acquisition. However, many factors can influence the planning itself, such as the specific circumstances and priorities of the company. Examining these circumstances can aid the owner when looking for the best strategy for the company and shareholders. Image source: martechtoday.co
Read more

Revenue streams you'll get from building your esports team

Image
It’s a common dream for many sports investors to own a team in the big leagues– whether it’s football, baseball, or soccer. What stops them from acquiring a team is the hefty price tag which can cost an upwards of a billion just to wade in. An esports team, on the other hand, can realize a sports investor’s dream of owning a franchise while building a brand for a younger, global market. Image source: Sogo Gakuen Human Academy Managing and owning an esports team can be risky if the investor focuses on winning league tournaments. Fortunately, this risk can be managed by creating revenue streams from a potential market of 380-million esports viewers and enthusiasts across the globe. The first revenue stream franchise owners should look at would be content creation at video game platforms like Twitch. These platforms play a billion hours of content to hundreds of thousands of viewers and therefore promise returns for advertising. A team can engage with these viewers while pushing adv
Read more