More than 90% of Fortune 500 CEOs played sports in college. Examples of these CEOs include former PepsiCo’s CEO Indra Nooyi, who played cricket in college and Bank of America’s CEO, Brian Moynihan, who played rugby at Brown University.
Famous athletes who run successful businesses include Venus Williams, George Foreman, Michael Jordan, Brad Pyatt, Magic Johnson, and the legendary David Beckham.
As an athlete, you can pursue a business of your dream and become a successful entrepreneur. Here are four sports business ideas for you.
- Team Coach
Athletes need to be in peak condition at all times. With enough time on your hands, you can become a team coach and share your knowledge and experience with other athletes. You can get coaching jobs at colleges and universities, or through local school districts.
Be sure to build your reputation with local clients before extending your services to teams in other states and cities.
Training as a physical therapist can enhance your portfolio and enable you to work as a health coach.
- Sports Writing
It’s easy to write about something you have experience in and are passionate about. You can start a sports copywriting company to share knowledge on teams, games, and players.
You should focus on providing your audience with as much valuable information as you can if you wish to build a large following. Through channels such as blogging and self-publishing books, you can monetize your written content and make a stable income.
- Sports Videography and Photography
Sports teams and organizations need professional videographers to film games.
Coaches and players use these videos to get better at their craft. Therefore, they need high-quality videos to refer to after games and during game practice.
You can also record recruiting videos for other athletes.
Hone your skills as a videographer to carve a niche for yourself and increase your chances of getting hired.
- Start a Gym
Recent studies show that the fitness industry has exploded, with the total annual revenues reaching $27 billion. Bodybuilders and fitness-conscious people appreciate a well-equipped gymnasium. If you’re willing to put in the hard work, starting a fitness center or gym can be extremely rewarding.
Buying gym equipment and insurance would be an excellent place to start.
Talk with fitness center owners to get tips on how you can get your gym business up and running.
More Sports Business Ideas
Other businesses you can pursue as an athlete include:
- Hosting a sports radio show
- Offering PR for athletes
- Selling sporting goods
- Sports Massage
When starting some of these businesses, it’s important to remember that you’ll need access to some capital in the beginning. If you have a low credit score, it’s still possible to get the money you need with bad credit loans. Remember to do some research before taking out a loan to start a sports-based business. Like in sports, you don’t want to have bad teammates.
Just Do It
Choose one of these sports business ideas and run with it. Remember, one of the most important things in the business world is to start. Don’t worry much about whether a business idea will work out for you or not.
However, this doesn’t mean you should go in blind. Be sure to conduct market research to identify your key customers and their needs, and find out ways you can meet those needs.
To fund your business, you may want to consider bank loans, which require you to have a good credit score. If you have a low credit score, all hope isn’t lost as you can apply for bad credit loans.
Continue reading our blog to learn more about businesses and how you can finance yours.