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Sports Promotion Business Idea

The question of how to start a sports promotion business is intriguing if you love sports and would like to become your own boss. Sports promotion is a billion dollar industry in the United States. Professional sports evolve and new superstars are always coming on the scene. These ongoing changes provide opportunities for promotion-based businesses, both large and small. This type of business engages in product, event, sports team, and individual athlete promotion and encompass a wide range of services.

Sports promotion has a long history in the United States. An early form of sports promotion was the introduction of baseball cards in the 1870s. Included in packs of cigarettes, baseball cards promoted both the sale of tobacco and the sport of baseball. The sports promotion concept remains similar today, blending both products and personalities in marketing promotions and events.

How to Start a Sports Promotion Business

As you begin your research into how to start a sports promotion business, your first decision is the type of promotion specialty you’d like to pursue. Sports promotion is a general term covering a wide range of activities. These activities include promoting sporting events, promoting specific athletes, sports team promotion, and selling sports team or athlete endorsed products. Take a look at your personal interests, skills, talents, and amount of money you can reasonably raise to start your business. Decide on one promotional area in which to concentrate first.

Choosing one specialty area helps you focus when just starting out. Begin with a small promotion. Sports promotion can be costly, particularly in the beginning. Paying upfront for sporting venues, advertising, and product branding is a common practice in the industry. Starting small is less risky and gives you an opportunity to learn about sports promotion without incurring heavy up-front expenses.

A sports promotion business provides the following primary services:

  • Meeting with athletes, team officials or sporting event organizers to prepare promotional campaigns
  • Publicizing events, products, or clients in local or national media
  • Attending promoted events or client appearances
  • Planning advertising campaigns

As the owner of your sports promotion business, you’ll also need to regularly take care of the following:

  • Networking with other business owners, sports officials, and team executives
  • Devising and refining pricing strategies to ensure financial success
  • Periodically contacting former, existing, and potential clients

Getting Started in Your Sports Promotion Business

    Sports promotion businesses are regulated by the state in which they operate . Required licenses depend on the type of promotions you do. General requirements will at least include obtaining a state promoter’s license and purchasing a security bond. Check with your state’s gaming commission or similar government office to understand exactly what prerequisites are required.

    The more you learn about how to start a sports promotion business, the more you realize that your best asset is “you.” As you meet with potential clients, officials, and prospective business partners, exhibiting a personable, can-do attitude is essential. Sports promotion is not a business that can be run at home in front of a computer. Promoters must be at the forefront, instilling confidence in their skills and abilities. Successful sports promotion entrepreneurs market and sell themselves as much as they do their clients or products.

    Whether you promote clients or products, finding customers and clients is crucial. Sports promotion involves utilizing a range of marketing methods. Whenever possible, use each promotion as a way to advertise yourself by including your business name and phone number or web site address. Pass out business cards as you attend events. Promote charity events for free. Turn each client or product promotion into a way to increase your own exposure.

    Keys to a Successful Sports Promotion Business

    Learning how to start a sports promotion business is the beginning of an ongoing journey. As you gain experience, keep the following keys for success in mind:

    • Broaden your scope as your business grows. Beginning with one type of client, event, sport, or product is the smart way to start, but as you begin to make money, taking on more clients will keep you from being overly dependent on a select few.
    • Periodically touch base with past contacts. Ensure that a system is in place to keep track of your contacts. Business relationships are often formed months or even years after the initial introduction. It pays to stay in touch.
    • Keep up with sports promotion news, trends, and your competitors. Sports promotion is a competitive field. In order to succeed, you must consistently give your clients something they can’t get elsewhere.

    Expanding Your Sports Promotion Business

    Learning how to start a sports promotion business and getting a payoff for all of your hard work is rewarding. Expanding your sports promotion business is a logical step forward. Consider the following ideas for growing your promotion operations:

    • Hire qualified staff to take on more clients or promotional venues
    • Promote other types of events, such as conventions, concerts, and shows
    • Promote additional types of clientele, such as actors, musicians, and singers
    • Open a retail store that sells specialty sports apparel and merchandise

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