Sports and fitness is one of the most lucrative sectors. This presents a number of lucrative businesses that you can engage in. What are some of these businesses and what do you require to engage in them?
Selling Sporting merchandise and equipment
You can set up a business where you sell different types of merchandise such as shoes, jerseys and shorts. These merchandise can either be generally branded or it can be customised for clients at a fee. The advantage of such a business is that you may get tenders to supply sports equipment and uniforms to different teams albeit professional or school teams from different regions in your state. If you plan on setting up this business, you should understand sporting trends and seasons in order to adjust your stock accordingly. You also need a good location and understanding of the retail space and laws in your state.
Sporting academy for children
You can also set up an academy that mentors and coaches children in different sports and games. The academy could include mentorship from renowned sports personnel. To set up such a business, you should have a team of experts who can coach the children and sports people who can mentor them. You should also lease or buy enough land to build an academy. This includes training equipment and space for the children. Remember that the academy can be run as part of school curricula or it could be a program where children spend their spare time.
You may also set up a firm that provides sports consultancy services to different teams. The services provided could range from strategic management of teams to the provision of technical advice and training to the teams. The good thing with such a business is that you can specialise in a specific sport and establish yourself as an expert in that specific field or you may set up a large firm that has different departments specialising in different sports. The services provided by your firm could also be insurance services for different equipment and team members, logistical arrangements for the teams and many more. To set up such a firm, you require extensive knowledge of the sports and games and a team of experts on sports and games.
A facility where people can come in and engage in different sporting activities and games either for recreational purposes or for to prepare for competitive activities. This facility could have some form of annual/monthly or weekly subscription that could generate revenues. The grounds could also be leased out to different teams for training or competitive purposes. Besides the club could run complementary programs for children or even adults who would like to learn the basics for different sports and games. To set up such as business, you need to understand how to run a club and the legal requirements for running such a business.
If you are passionate about different sporting activities and would like to channel this passion to an income generating activity, you need to take stock of your knowledge and skills in order to evaluate the viability of the sector as a business venture. You also need to understand what you require and do not have and where you can acquire them.