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This is one of the topics I get asked about the most, and it’s one of the topics with the most variable answers. The amount of funding you need and how you can get it depends a lot on your business model and your personal financial connections. I used plenty of my own money and created a partnership to get the rest of what I needed. However, I wouldn’t necessarily choose the same path if I had to do it over again, and I’m happy to share everything I’ve learned with you as it relates to financing your own business.
CHOOSING A BUSINESS MODEL
Every business is different, but sports facility businesses tend to fall into one of a few categories. I’ve worked with each type, from big boxes to boutique academies, and I know what works the best for each. The model you choose will depend on the space you’ve found and your personal vision for the company. We will discuss which one is best for you.
BUSINESS PLAN REVIEW
Many of you have already put in many hours of work on a business plan. Maybe you’ve even used a professional service or software program built for the purpose. However, without industry-specific advice, you have no real idea whether your numbers and projections are realistic. I will review your business plan and give you feedback about its strengths and weaknesses.
Those with experience in the sports world often struggle with how to position their new programs, how to reach their target audiences, and how to get the word out to land new clients. Today, you have lots of marketing options and tools at your disposal, especially in the digital world. I’ll go into detail about which ones worked for us and how to develop your own 12-month marketing plan. I’m also happy to review any marketing plans you’ve already developed.
Choosing the people who will help you run your sports facility is one of the most important things you’ll do as a new owner. Staffing structure depends a lot on your business model, but also ties in to your finances and overall mission. Staff issues can make or break your business. Together, we’ll figure out what credentials you should look for for each position, what you should pay, and where to find potential hires.
Your programs are the lifeblood of your sports facility. Even small changes in how you approach creating your programs can make a huge difference to your bottom line. We’ll discuss how to identify your target audiences and create sports-specific programs for them, including their pricing and schedules.
Enjoy a free 15-minute consultation for your business.
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