It’s wonderful to start your academy from scratch, but you can also choose the franchising model. Numerous well-known sports figures have established their academies and are dispersing their expertise through franchises. In addition to promoting brand expansion, the franchising model makes it simple to obtain bank loans and investments. There are many advantages to investing in a sports franchise.
It offers a high return on investment with an early breakeven point. The income growth also looks promising as it has a recurring revenue model. Last but not least it is a recession-proof enterprise
Besides having so many advantages, one needs to be extra careful to run a sports franchise, here we bring some important tips for running a sports franchise.
Set the Vision Right
Be very clear about the vision, mission, code of conduct, ideology and ethics of a franchise. Behind the inception of every franchise is a vision which decides its fate. All the efforts taken by the team and management should be in tandem with the vision and ideology of the franchise. It is important that players and the team management follow the code of conduct on and off the ground.
Treat Your Team Well
The success of a franchise depends on the team players and their performance. So, give them the utmost importance and look after them well. It is important to take care of the needs of the players who, leave behind their families for months and dedicate all their time and energy to the sport.
Invest in Infrastructure
The training facilities for the players should be top class with all sporting amenities. Investing in good training infrastructure is of utmost importance for players to outperform. Also, there should be provision for recreational sports and activities for players to bond during leisure time.
Develop a strong Support
Having a strong support staff like fitness trainers, masseurs, doctors and physiotherapists are beneficial, as their aid to the players during training determines the result.
The players, who are undergoing training, should be treated as a national asset, as no one knows, who will be going to represent the nation in that sport.
Smart Franchise Positioning
The proper positioning of your franchise can have several advantages. Franchise positioning through appropriate channels and digital platforms improves visibility. The brand value of any sports franchise improves after associating with already successful players of that particular sport.
Improve Relationships
Establishing positive relationships is essential. A contented player gives their all on the field and brings honour to the team. Having positive relationships with players and support personnel will aid in keeping them on board.