Entrepreneurial ideas in sport
Is this my moment? A question you should ask yourself when embarking on a new project.
According to a study conducted in 2018 by the Global Entrepreneurship Monitor, up to 74% of global entrepreneurs open their business for a market opportunity. On many occasions they apply business models that have already worked in other markets.
Suppose you have already found promising entrepreneurial ideas that you would like to replicate. In addition, you have tested the viability of your business model and the demand for your product in a new market. Well, now it's your turn to ask yourself if you're ready at this stage of your life to start your own business.
Three variables to take into account when starting
"How can I know if I'm really ready to take this leap? Why today and not tomorrow?" We help you answer this intriguing question by making you think about some variables that we consider key:
It seems obvious to think that without experience in a sector or in team management it will be very difficult for us to start. But we have good news: this is not always the case 😉
On one hand there is Mark Zuckerberg, Steve Jobs or Jeff Bezos, who began when they were under 30, with limited experience but very innovative entrepreneurial ideas. On the other hand, research from the Massachusetts Institute of Technology reveals that the average age of a successful entrepreneur is 45.
But there is middle ground that consists of relying on the knowledge and experience of another entrepreneur - the franchise model. As in the restaurant or retail sector, in sports there are also entrepreneurial ideas, such as Sportmadness, which you can replicate independently of your experience in the sector or managing businesses.
Any entrepreneurial idea requires an economic investment, but above all it requires time. Starting a business from scratch will mean you try, fail and keep trying until you reach success. This process will take time, money or both, with no guarantee of making your project profitable.
The advantage of using a Franchise model is that you start your business with already developed and optimised processes. In addition, you can count on technological tools in full operation, as well as other material resources already proven in other markets.
The added value of franchises like Sportmadness is that you can start your own business quickly and be selling your first service in less than a month.
Not only will your attitude and energy be dedicated to your entrepreneurial idea, you must also take into account your current way of life: do you have to dedicate time to a family? Do you have other priority projects? Do you have hobbies to maintain?
To solve this potential problem, we recommend that you find solutions that allow you to balance your personal and professional life. In many sectors, entrepreneurship involves opening a shop to which you can be committed 7 days a week. In others, such as sports management, a fixed office is not necessary, which also makes it much more affordable.
In this way, models such as Sportmadness, which are technology-based and with a high commercial component, offer you the flexibility to work from anywhere while balancing your personal life.