Are you a sports enthusiast? Do you want to learn how to make money out of your passion for sports? Then i advice you read on as i highlight the best sports business ideas you can start in 2020 and make money.
The sports industry is a broad multi billion dollar industry. In fact, the industry is so big that one individual or corporate entity can never cover the entire industry and the reason is because there are a lot of smaller niches within the sports industry. The niches in the sports industry can be classified into:
- Media Marketing and Advertising
- Sports Management
- Sports Equipment
Indoor events: These are sporting events that occur within an enclosed building. Examples of such event include Basketball, Taekwondo, Boxing, Ice hockey, Table tennis, gymnastics, etc.
Outdoor events: These are sporting events that takes place in an open but controlled environment. Example of such sport is the Marathon race. However, outdoor events can further be subdivided into:
- Field Events: Football, Soccer, Baseball, Golf, Polo, Hockey, Rugby, etc.
- Track events: Formula1, Racing, etc.
The reason i took my time to go into this detail is to enable you understand that there are a lot of sporting events, all you need to do is to focus on the one you are passionate about and figure out how to profit from the niche. Now without wasting your time, below are some of the best business ideas in the sport industry. But before i proceed to highlight these ideas, i want you to know that you don’t need to pursue all sporting events. All you need to do is to take one of the ideas listed below and implement it on any particular niche of your choice.
15 Best Sports Business ideas & Opportunities for 2020
I believe this business idea is self explanatory. If you have expertise in a particular sport, or you were once a sportsman but now retired; you can establish yourself as a sports coach to the younger generation and make your money. For instance, you can become a boxing coach, a Taekwondo coach or you can even proceed to coach a team.
2. Start a personality management service
Just as musical stars and movie stars have personal managers, you can also establish yourself as a sports personality manager for either footballers, basketball players, professional golfers or athletes, etc. Your task will be to manage your clients reputation, negotiate deals on their behalf and pursue advertising deals.
3. Open a sports academy
You can set up a sports academy to train and develop young talents just like the Pepsi Football Academy. You can choose to replicate the idea in your own niche and create something like a Boxing academy, Athletes academy, Lawn tennis academy, etc.
4. Establish a local club
You can also establish your own local sports club or team and enter for competitions. For instance, there are privately owned Taekwondo teams, Football team,Volleyball team, etc.
5. Open a paid sports training facility
Another idea would be to set up a well equipped sports training facility and charge people a fee for access. You can either focus the facility on a particular sports such as Lawn Tennis, Swimming, Weightlifting or you can make the facility a multi purpose one.
There are a lot of magazines on the news stand focused on every sports you can think of. Yet, some niche are still untapped. You can decide to become a sports magazine publisher and keep enthusiasts abreast of the happenings in their niche. For instance, Complete Sports and Complete Football are some of the most popular sports magazine in Nigeria. You can do the same with other sports.
You can also set up a sports recruitment agency. Your primary task in this case is to scout for young talents for major sports clubs all over the world. For instance, you can become a headhunter for football clubs, hockey clubs, etc.
10. Manufacture / Wholesale or Retail Sports Equipment
12. Establish your own local fan club
14. Launch your own sports cable TV
16. Start a local sports event organization company