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  • Become a Stakeholder in Your Favorite Game Through Business

    Aug 4, 2022

    IBA, as the premier business brokerage firm in the Pacific Northwest, is firmly established as a respected professional service firm in the legal, accounting, banking, mergers & acquisitions, real estate, and financial planning communities.  Periodically, we will post guest blogs from professionals with knowledge to share for the good of owners of privately held companies & family owned businesses. The following blog article has been provided by Lucas Weaver (www.theyolopreneur.com).

    Become a Stakeholder in Your Favorite Game Through Business

    There are about 11,800 professional athletes in the United States, a statistic that shows how challenging it is to “go pro.” If you’re a sports lover in the Pacific Northwest, there are many ways you can participate in your favorite sport beyond being a professional athlete. One way is by venturing into the sports business. The sporting world presents numerous business opportunities to explore. For example, you can be a sports agent, marketing manager, therapist, statistician, apparel vendor, broadcaster, or writer. Participating in sports business can also enable you to contribute directly to sports, such as by sponsoring local teams or paying for better playing turf, jerseys, and equipment. Read on for how to start a sports business.

    Where Do You Start?

    A starting point could involve considering the needs of sporting venues. Venues need proper lighting, for example, which creates demand for professionals with lighting expertise. A lighting system enables teams to host games at night and secure maximum attendance. As many sports organizations can’t afford to install permanent lighting systems, you may find significant interest in renting mobile lighting equipment. You’ll want to follow the steps below to get your stadium lighting business off the ground.

    Research Needs for Sports Venues

    Make sure you research sports lighting industry case studies to get a clearer picture of what it takes to operate — at least in terms of statutory requirements, capital, and other potential issues. Sports complexes have different conditions when it comes to lighting levels. So, find out what it takes to light up small- to large-size outdoor complexes and indoor arenas. You can use the services of a sports venue lighting engineer who can advise you on quality lighting systems and proper angles for perfect lighting.

    Market Your Business

    After researching and setting up your lighting business, develop a marketing strategy to ensure that your client list increases steadily. Start by sending lighting proposals to small- and college-level complexes, explaining how you can improve their lighting systems. You might explain how you can help them make the transition from traditional metal halide lights to modern LED lights, along with the benefits of such a move. Quality services delivered to small venues can help you build a reputation, experience, and platform to scale up to mid- and large-sized venues.

    Participate in the Sports Business from Your Home

    If starting a business for sports venues isn’t for you, you can also consider taking on the following  part-time or full-time remote jobs from the comfort of your own home:

    • Freelance sports writer. If you enjoy writing, create a great writing portfolio website and an active online presence that provides news about local teams and the sport you love.
    • Social media producer. You may want to take time and learn about social media marketing and remotely help teams with advertising, creating and optimizing profiles, responding to fans, and finding relevant content to share.
    • Sports agent.You can set up a sports agency where you can remotely help athletes and represent them in contract negotiations, endorsements, finding teams, etc.

    Start Your Sports Business Today

    Sports can offer you business opportunities ranging from game-site jobs to remote jobs from your home. If you’re an entrepreneur in Washington, Oregon, Idaho, or Alaska and want to acquire or sell an existing business that has customers in the athletic sector, IBA  has successfully represented many businesses in that space from gyms to youth athletic programs and screen printers producing jerseys to food vendors at local stadiums. The members of IBA’s brokerage team serving that niche would welcome the opportunity to provide an overview of our client services.

    Image via Pexels

    If you have questions relating to the content of this article, Lucas Weaver would welcome the opportunity to answer them.  Mr. Weaver can be reached at (406) 994-2080 or lucas.weaver@theyolopreneur.com.

    IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, mergers & acquisitions, and real estate communities on subjects relevant to the purchase & sale of privately held companies and family owned businesses.  IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.

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