06 Apr 2012
- Written by Carlee McCullough
For many children, schoolyard play gives way to organized sports competition and along the way they develop dreams of reaping the accolades and lifestyles of superstar athletes.
The reality, which is sometimes learned as a painfully sobering life lesson, is that very few children will become sports-playing professionals. Some, however, do become savvy business folks, who take their love of sports and create businesses that link them to their long-held passions.
This month in On Our Way To Wealthy, we are featuring entrepreneurs who have tapped into their creativity and inventiveness and successfully built sports-related companies.
While Memphis is home to the world’s greatest barbeque establishments and soul food restaurants, many Memphians are focusing in on their physiques. With the assistance of professional trainers to provide advice on workout and diet, your body can undergo a metamorphosis that is worth every penny paid to the trainer. Although the owners of physical training businesses may not be on the greens or on the courts, they are maintaining a presence in the sports business. Some trainers have even ventured into the world of training professional athletes.
Memphis hosts a large long-standing sports event, which not only includes the big game, but also includes concerts and fashion shows. Money is made on many levels with sporting special events. The promoter benefits financially as well as the community and surrounding businesses. There is definitely room in the market place for other events related to sports. We will soon explore those in upcoming articles.
Martial arts franchises
From the extreme workouts to its competitive nature, martial arts are highly physical activities that often take years to master. Discipline, confidence, self-esteem, self-defense and form are only a few of the things learned from martial arts. Memphis is home to quite a few franchises. The glow on a kids face when he/she receives those colored belts representing the different levels of accomplishment is priceless. The children are all so excited and learn valuable lessons in the process. The owners of the franchises can make a lucrative living while helping to train and mold little minds with the concepts of discipline and control.
Creative thinkers and doers in the sports products area have developed a wide variety of items, which include athletic shoes, clothing and equipment. Apparel for men, women, boys and girls run the gamut in color and design. Although Nike appears to have cornered the market, there are some independents that have created niches. Independent shoe companies have created custom shoes, with colors and designs provided by the client.
Certain sports industries have also spurred the creation of clothing lines such as NASCAR. While men traditionally dominate in driving the laps, women overwhelmingly contribute to the fan base and have ecently become the target market of enterprising clothing designers as well as corporations.
Move over Gatorade and Powerade. Private label manufacturers are providing innovative business owners with the opportunity to put their names and logos on beverages. An even bigger bonanza may await those that create a sports beverage. Red Bull, Rockstar and 5-hour ENERGY may only be the tip of the iceberg.
Wii, Nintendo, Xbox, and Play Station are only a few of the instruments that gamers use to play video games these days. As cellular phones have evolved and become more sophisticated, the games have become more mobile and downloadable. Madden and Tiger Woods are popular games, however, hundreds of games exist and more are rapidly being created. The more innovative and realistic the game appears with graphics and images, the more demand is generated.
Sports facility management
Some inventive entrepreneurs have built businesses around sports facility management. From golf courses to tennis courts, the management of the facility is an increasing opportunity as agencies and firms seek to outsource those services. Locally, private management companies have even managed football stadiums. Those management contracts may include oversight of all maintenance, rental of the premises, and coordination with contractors and various subcontractors.