business plan on sports

How to Write a Youth Sports Business Plan

Understanding the youth sports market

Youth sports business plan template, executive summary, organization summary, market analysis summary, strategy and implementation, financial plan, marketing plan, performance metrics and evaluation.

• Growth Opportunities and Future Plans 
• Training Programs : Group and individual coaching sessions for various sports, focusing on skill development, fitness, and game strategy.
• Leagues and Tournaments : Organized competitions for different age groups, with emphasis on teamwork, sportsmanship, and fair play.
• Camps and Clinics : Specialized programs during school breaks and holidays, featuring guest coaches and experts in various sports disciplines.
• Sports Equipment and Merchandise : Sale of sports gear, uniforms, and Eastland Bobcats branded apparel.
• Community Outreach : Build relationships with local schools, community centers, and sports clubs to promote our programs and recruit new athletes.
• Marketing : Develop a strong online presence through our website, social media channels, and email campaigns. Use local media outlets and sponsored events to increase brand awareness.
• Partnerships : Secure sponsorships from local businesses and organizations to offset costs and provide additional resources for our programs.
• Continuous Improvement : Regularly evaluate our offerings, coaching methods, and facilities to ensure the highest quality and relevance for our athletes.
• Funding Sources : Membership fees, training program fees, league and tournament registration fees, equipment and merchandise sales, sponsorships, and facility rental income.
• Expenses : Facility maintenance and improvements, staff salaries, marketing and promotional costs, equipment purchases, insurance, and licensing fees.
• Financial Projections : Detailed projections for revenue, budget , expenses, break-even, and cash flow over a three-year period, with annual growth rates and profitability targets.
• Website : Develop a user-friendly and informative website that showcases our programs, services, and facilities. Include registration forms, payment options, and regular updates on events and achievements.
• Social Media : Share news and updates, and showcase our athletes' accomplishments on platforms like Facebook, Instagram, and Twitter.
• Local Advertising : Place ads in local newspapers, magazines, and online community forums, targeting families with children in our age range.
• Community Events : Promote our programs at local events, such as fairs, festivals, and sports tournaments.
• Referral Program : Encourage word-of-mouth marketing by offering discounts or incentives to current participants who refer new athletes to our organization.
• Enrollment Numbers : Monitor the number of athletes enrolled in our programs and the retention rate of existing participants.
• Revenue : Track revenue generated from various sources, including program fees, merchandise sales, and sponsorships.
• Customer Satisfaction : Gather feedback from athletes and their parents through surveys, testimonials, and informal conversations to gauge satisfaction with our initiatives and identify areas for improvement.
• Athlete Development : Analyze our athletes' progress, both on and off the field, to ensure our programs are fostering healthy development.

Growth Opportunities and Future Plans

• Facility Expansion : Acquire additional land or facilities to accommodate a growing number of athletes and expand our range of sports and programs.
• Scholarship Program : Ensure equal access to our programs by providing financial assistance to athletes from low-income families.
• Coach Development : Implement ongoing training and professional development opportunities for our coaching staff to enhance their skills and stay current with industry trends.
• Partnerships : Explore opportunities to collaborate with other sports organizations and community groups to enhance our programs and reach a broader audience.

Tips for running a youth sports organization

1. get a youth sports management platform.

• Create a professional website using customizable templates. 
• Provide seamless online registration for parents. 
• Manage schedules for practices, games, and other events. 
• Communicate with parents and coaches through email and text. 
• Run background checks and manage athlete rosters. 

2. Choose a niche

3. find a good location and facilities, 4. market your league , social media, sponsorship opportunities, local events and networking, 5. get your licenses and permits, 6. obtain insurance, create your youth sports business plan today.

Sports Club Business Plan: How To Do It [Guide]

Are you an enthusiast looking to start a sports club? Perhaps you dream of building a thriving sports community that brings people together and promotes physical activity.

As an industry professional in the context of sports clubs, I understand the importance of a well-crafted business plan.

In this comprehensive guide, I will share knowledge and insights to help you develop a winning sports club business plan that sets you up for success.

Table of Content

• Introduction
• Defining Your Vision and Mission
• Market Research and Analysis
• Building Your Sports Club Structure
• Financial Planning and Budgeting
• Marketing and Promotion
• Operations and Management
• Facilities and Equipment
• Risk Management and Legal Considerations
• Measuring Success and Growth

1. Introduction

Starting a sports club can be an exciting venture, but it requires careful planning to turn your vision into a reality.

A well-structured business plan is the foundation of every successful sports club. It not only outlines your objectives but also serves as a roadmap for achieving them.

Let’s dive into the essential steps of creating a sports club business plan.

2. Defining Your Vision and Mission

Before you start writing your business plan, it’s crucial to clearly define your sports club’s vision and mission. Ask yourself the following questions:

• What is the purpose of your sports club?
• What values and principles do you want to promote through your club?
• What are your long-term and short-term goals?

By identifying your club’s purpose and setting specific goals, you’ll be better equipped to create a focused and impactful business plan.

Setting Clear Goals and Objectives

To ensure your business plan is actionable, set clear and measurable objectives. Consider the following factors:

• The number of members you aim to attract in the first year
• The frequency of sports events or activities you plan to organize
• Financial targets, such as revenue and expenses

3. Market Research and Analysis

Understanding the sports industry landscape is essential for a successful sports club. Conduct thorough market research to gain insights into your potential target audience and competitors.

Analyzing the Sports Industry Landscape

Research trends and market demands in the sports industry. Determine which sports are popular in your region and how you can capitalize on those interests.

Identifying Your Target Audience and Competition

Define your target audience based on demographics, interests, and preferences. Identify your competitors and analyze their strengths and weaknesses to find opportunities for differentiation.

4. Building Your Sports Club Structure

The foundation of a successful sports club lies in its structure and offerings.

Choosing the Right Sports and Activities

Select sports and activities that align with your club’s vision and cater to your target audience’s interests. Consider offering a diverse range of options to attract a broader audience.

Selecting the Ideal Location

The location of your sports club can significantly impact its success. Choose a place easily accessible to your target audience and with sufficient space to accommodate your activities.

5. Financial Planning and Budgeting

Developing a sound financial plan is crucial for the sustainable growth of your sports club.

Estimating Initial Costs and Investments

Calculate the initial costs of setting up the club, including facility rent, equipment purchase, and staff recruitment.

Developing a Sustainable Financial Model

Create a detailed financial forecast to estimate revenues and expenses over time. This will help you ensure the financial viability of your sports club.

6. Marketing and Promotion

Effectively marketing your sports club will attract potential members and increase your visibility.

Creating a Brand Identity for Your Sports Club

Develop a strong brand identity that resonates with your target audience. This includes creating a compelling logo, tagline, and mission statement.

Leveraging Digital Marketing Channels

Utilize online platforms and social media to reach a wider audience. Engage with potential members through content marketing and community building.

7. Operations and Management

Efficient day-to-day operations are vital for delivering a seamless experience to your club members.

Establishing Efficient Day-to-day Operations

Develop standard operating procedures (SOPs) to streamline administrative tasks and ensure smooth club operations.

Building a Strong Team and Leadership

Recruit passionate and knowledgeable individuals to manage and lead your sports club. Effective leadership will drive growth and foster a positive club culture.

8. Facilities and Equipment

Investing in quality facilities and equipment is essential for providing a top-notch experience to your members.

Ensuring Adequate Facilities and Amenities

Ensure that your club’s facilities meet the needs of your chosen sports and activities. Offer amenities that enhance the overall experience for members.

Selecting Quality Sports Equipment

Invest in high-quality sports equipment that is safe and durable. Well-maintained equipment will contribute to a positive member experience.

9. Risk Management and Legal Considerations

Mitigating risks and complying with legal requirements protect both your club and its members.

Mitigating Risks and Liabilities

Implement safety protocols and insurance coverage to protect your members from potential accidents or injuries.

Complying with Legal Requirements

Ensure that your sports club adheres to all relevant legal and regulatory guidelines, including permits and licenses.

10. Measuring Success and Growth

Regularly evaluating your club’s performance and progress will help you make informed decisions and identify areas for improvement.

Setting Key Performance Indicators (KPIs)

Establish measurable KPIs to monitor the success of your sports club. These may include member retention rates, revenue growth, and event attendance.

Evaluating and Adapting Your Business Plan

Periodically review and update your business plan based on data-driven insights. This will enable you to adapt to changing market conditions and member preferences.

11. Conclusion

Congratulations! You now have a comprehensive understanding of how to create a successful sports club business plan. By defining your vision, conducting thorough research, and implementing effective marketing and management strategies, you are well-equipped to build a thriving sports community.

Remember that the journey of starting and managing a sports club may have challenges, but with dedication, passion, and the right business plan, you can turn your dream into a reality.

Good luck on your sports club venture! Here’s to a bright and prosperous future filled with sportsmanship, camaraderie, and success!

Hello! I’m Magnus Berglund , a seasoned trendspotter and proud founder of SportsBizTrends.com .

With over a decade of experience as an independent advisor and consultant, I have specialized in business development and creative marketing within the sports industry . This has, among other things, resulted in a book about sports sponsorship (only available in Swedish for the moment).

If you find my writing interesting, please share it with your colleagues and friends. It would be greatly appreciated!

And yes, I do freelance consulting and provide lectures at industry events, business networks, board meetings, and similar occasions. However, since I also work as a Marketing Manager for an industrial company, I choose the occasions wisely.

That said, don’t hesitate to contact me with your inquiry .

With experience from various assignments in strategy, tactical activations, and valuation of sponsorship (from the grassroots level to the English Premier League), I am happy to share my insights and ideas in this fast-paced industry.

For more information about me and my work, including my contact details, please visit the About page , or connect with me via LinkedIn .

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How To Write A Professional Business Plan For Your Sports Business

If you are putting together a business plan for your sports business there are some important elements to remember. No matter what type of business you are setting up, you should have a business plan. A business plan summarises everything about it from objectives and strategies to marketing plans and financial forecasts.

One thing not to leave out of your business plan is the necessity for insurance cover. Get a quote for our  Sports Business Insurance  today to ensure you and your business are protected should things not go as planned. If you are running an  after-school club you should consider our  after-school club insurance .

It is an essential tool if you are looking to secure funds from a bank or investor but can also be helpful when talking to new suppliers or customers as it will help to articulate those aspects of your sports business that will be of particular interest. There are lots of online resources to help you to write a plan, but here is a summary of the key points to include:

1.  Outline your objectives – be clear about what you are looking to achieve and how you intend to reach your goal.

2.  Define your business – Provide a clear and accurate summary of your business and what it is about. Outline what produces/services you will provide.

3.  Identify your market – and more specifically your target consumers. Who will you sell to, what are their demographics ie. What age groups, gender are they and what regions of the country do they live in?

4.  Competitive Analysis – what and who could your competitors be? Remember that this doesn’t just have to be direct competitors.

5.  Pricing structure – Be sure to detail your selling price, costs any other investors in the business so you have a clear financial plan. This will help the bank/potential investors to be clear about the opportunity that your business can provide.

6.  Operations – detail the operational side of the business from facilities to employees including management and the structure of the business.

7.  Sales and Marketing – how will you sell your products/services? How will you promote your business and your products? What will the costs be and the expected results?

8.  Demonstrate that you have identified any potential risks and have plans in place in certain scenarios – investors will be more prepared to part with their cash if they can see that a risk assessment has been done.

Get a quote for your business

Other top tips:.

• Allow plenty of time – putting together the right business plan can take time. Not only do you need to gather all of the information required but then you need to sit down and put it together in the right way.

• Start with a template – there are lots of great business plan templates available which are an excellent starting point to help you to build the perfect business plan. Both Princess Trust and Barclays provide great examples.

• Keep the plan clear, precise and professional. Your business plan represents you and your business so it is important to deliver the right impression

• Avoid too much detail in the main body of the plan. Many business plans are simply too long! Keep the body of the document clear and accurate and include any supporting information in the appendix (making sure that you reference it).

• Don’t be afraid to ask advice – review the document with any business colleagues or friends you trust to give you constructive feedback.

So get writing your winning business plan and remember ‘A goal without a plan is just a wish’ – Antoine de Saint-Exupery. 

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Sports Bar Business Plan Template

Written by Dave Lavinsky

Sports Bar Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their sports bars. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a sports bar business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Sports Bar Business Plan?

A business plan provides a snapshot of your sports bar as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Sports Bar

If you’re looking to start a sports bar, or grow your existing sports bar, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your sports bar in order to improve your chances of success. Your sports bar business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Sports Bars

With regards to funding, the main sources of funding for a sports bar are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for sports bars.

Finish Your Business Plan Today!

How to write a business plan for a sports bar.

If you want to start a sports bar or expand your current one, you need a business plan. Below are links to each section of your sports bar business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of sports bar you are operating and the status. For example, are you a startup, do you have a sports bar that you would like to grow, or are you operating sports bars in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the sports bar industry. Discuss the type of sports bar you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of sports bar you are operating.

For example, you might operate one of the following types of sports bars:

• Neighborhood Sports Bar : this type of sports bar focuses on one property located in a median income neighborhood and usually sells alcoholic beverages at a low price to attract repeat customers.
• High End Sports Bar: this type of business is usually located in a high end area of town adjacent to multiple other restaurants and entertainment districts. They are oftentimes located in the downtown area.
• Franchise Sports Bar: this type of sports bar is a popular franchise with proven success in similar markets.

In addition to explaining the type of sports bar you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, profit growth, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the sports bar industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the sports bar industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your sports bar business plan:

• How big is the sports bar industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your sports bar? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your sports bar business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: sports fans, office workers, blue collar workers and college students.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of sports bar you operate. Clearly, prospective customers would respond to different marketing promotions than college students, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most sports bars primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other sports bars.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes restaurants and other types of bars. You need to mention such competition as well.

With regards to direct competition, you want to describe the other sports bars with which you compete. Most likely, your direct competitors will be sports bars located very close to your location.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ business, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of alcoholic beverages do they sell?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a better sports bar atmosphere?
• Will you provide products that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a sports bar business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of sports bar company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to a sports bar, will you provide food or pool tables?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your sports bar company. Document your location and mention how the location will impact your success. For example, is your sports bar located in a busy retail district, shopping plaza, mall, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your sports bar marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your sports bar, including bar set up and cleaning, alcohol inventory, serving patrons, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your sports bar to a new city.  

Management Team

To demonstrate your sports bar’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing sports bars. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing bars, restaurants or successfully running small businesses .  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 500 patrons per month or per quarter ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your sports bar, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a sports bar:

• Location build-out including design fees, construction, etc.
• Cost of equipment, inventory and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your sports bar location lease or the bar menu that you are planning to serve.   Summary Putting together a business plan for your sports bar is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the sports bar industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful sports bar.  

Sports Bar Business Plan FAQs

What is the easiest way to complete my sports bar business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Sports Bar Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of sports bar you are operating and the status; for example, are you a startup, do you have a sports bar business that you would like to grow, or are you operating a chain of sports bar businesses?

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

Other Helpful Business Plan Articles & Templates

How to Start a Profitable Sports Coaching Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a sports coaching business plan., 3. develop a sports coaching brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for sports coaching., 6. open a business bank account and secure funding as needed., 7. set pricing for sports coaching services., 8. acquire sports coaching equipment and supplies., 9. obtain business insurance for sports coaching, if required., 10. begin marketing your sports coaching services., 11. expand your sports coaching business..

Starting a sports coaching business requires a comprehensive understanding of the current market landscape. A thorough market analysis will provide valuable insights into potential customers, competition, and trends, guiding you to make informed strategic decisions. Here's how to get started:

• Research the demand for sports coaching in your target area, identifying which sports are popular and the demographics of potential clients.
• Analyze your competition by looking at other sports coaching businesses, noting their offerings, pricing, and market positioning.
• Examine the local sports infrastructure, such as facilities and clubs, to understand how your business could integrate or fill gaps in the existing ecosystem.
• Identify key trends in the sports industry, including technological advancements, training methodologies, and health and fitness movements that could impact your business.
• Survey potential customers to gather direct feedback on what they are looking for in a sports coaching service.
• Assess the economic climate, considering factors such as disposable income levels and local investment in sports, which could influence the viability of your business.

Are sports coaching businesses profitable?

Yes, sports coaching businesses can be profitable, depending on the type of services offered, the location, and the target market. Additionally, it is important to consider overhead costs such as rent, supplies, and employee salaries. Furthermore, the popularity of any particular sport can also affect a business's profitability.

Creating a comprehensive business plan is a critical step in establishing a successful sports coaching business. It provides a roadmap for your business's growth, financial planning, and operational strategy. Below are essential components to include in your sports coaching business plan:

• Executive Summary: Offer a concise overview of your business, including your mission statement, coaching philosophy, and the sports you will coach.
• Market Analysis: Research and describe your target market, including demographic information and an assessment of the competition.
• Services Offered: Detail the coaching services you plan to provide, such as individual coaching, group clinics, or team coaching, and any unique selling points.
• Marketing and Sales Strategy: Outline how you will attract and retain clients through various marketing channels and what your sales process will look like.
• Operational Plan: Describe your coaching location, equipment needs, and any staff or assistants you plan to hire.
• Financial Plan: Include a budget with projected income, expenses, and cash flow. Consider pricing strategies for your services.
• Goals and Objectives: Set clear, measurable goals for client acquisition, revenue targets, and any expansion plans.

How does a sports coaching business make money?

A sports coaching business can make money by charging clients for lessons and services, such as private instruction and team training. They can also monetize additional services, such as merchandise sales or workshops for aspiring athletes. A target audience for this type of business could be high school or college athletes, or teams and clubs looking for specialized instruction. Another potential target audience could be professional or aspiring adult athletes looking to take their game to the next level.

Establishing a strong sports coaching brand is vital for setting yourself apart in the competitive market and communicating your unique value proposition to potential clients. Your brand should reflect your coaching philosophy, expertise, and the kind of experience clients will have when working with you. Here are some key steps to consider when developing your sports coaching brand:

• Define Your Brand Identity: Choose a brand name, logo, and color scheme that represent your coaching style and appeal to your target audience.
• Identify Your Unique Selling Proposition (USP): Clearly articulate what makes your coaching services distinct and why clients should choose you over competitors.
• Create a Brand Message: Develop a compelling and consistent message that resonates with your audience and is reflected in all your marketing materials and communications.
• Know Your Audience: Understand who your clients are, what they need, and how they like to be engaged, tailoring your brand to meet those needs.
• Build an Online Presence: Design a professional website and maintain active social media profiles that align with your brand identity and message.
• Deliver Consistent Quality: Ensure that every aspect of your service, from training sessions to customer service, reflects the high standards of your brand.

How to come up with a name for your sports coaching business?

Choosing a name for your sports coaching business is an important decision. Firstly, decide on the type of sports you want to specialize in and then think of words related to that sport that you could incorporate into the name. Secondly, consider what market you're targeting and what sort of image and culture you're trying to create. Thirdly, use resources such as online search tools or a business naming platform to find and check available domain names. Finally, make sure the name you come up with is catchy, memorable and conveys the right message about your business.

Formalizing your business registration is a crucial step in establishing your sports coaching business. It legitimizes your operation and ensures that you comply with all legal requirements. Here’s a simple guide to help you through the process:

• Choose a Business Structure: Decide whether you want to operate as a sole proprietorship, partnership, LLC, or corporation. Each has different legal and tax implications.
• Register Your Business Name: If you've chosen a name for your business, make sure to register it with the appropriate state agency. If you're operating under your own name, this step may not be required.
• Obtain an Employer Identification Number (EIN): Apply for an EIN through the IRS for tax purposes, especially if you plan to hire employees.
• Register for State and Local Taxes: Register with your state to obtain a tax identification number, workers' compensation, unemployment, and disability insurance.
• Obtain Required Licenses and Permits: Depending on your location and the nature of your sports coaching business, you may need specific permits or licenses to operate legally.
• File for Trademarks or Service Marks: If your business has a unique name or logo, consider protecting it by filing for a trademark.

Resources to help get you started:

Explore the top resources specially selected for sports coaching entrepreneurs looking for market trends, operational strategies, and tips for business expansion:

• Sports Coach UK : Offers comprehensive guides and tools for coach development across various sports. Visit here .
• The Coach's Toolkit : An extensive collection of resources including templates, articles, and guides on coaching best practices. Discover more .
• International Coach Federation (ICF) Blog : Provides insights into coaching trends, research, and professional development opportunities. Read here .
• Sports Business Journal : Offers up-to-date news, analysis, and reports on the sports industry, including coaching businesses. Learn more .
• Coach Growth Lab Newsletter : A regular newsletter with tips, tools, and interviews to help sports coaches grow their business. Subscribe here .

Starting a sports coaching business requires compliance with various legal requirements to ensure your services are recognized and respected by the law. Here's a guide to help you identify and acquire the necessary licenses and permits:

• Research local regulations: Different states, counties, or cities may have specific rules for sports coaching. Check with your municipal or county clerk's office or a local Small Business Development Center.
• Professional certification: Obtain any relevant coaching certifications from recognized sports organizations to enhance credibility and meet potential legal requirements.
• Business license: Apply for a general business license to legally operate in your area. This is usually obtained from your local city hall or county administrative office.
• Zoning permits: If you plan to operate from a physical location or build a facility, ensure it's zoned for your type of business and obtain any necessary zoning permits.
• Liability insurance: While not a permit or license, carrying liability insurance is crucial for protecting your business and clients in case of accidents or injuries.
• Child protection clearances: If coaching minors, you might need background checks and clearances as per state laws to work with children.

What licenses and permits are needed to run a sports coaching business?

Depending on the type of sports coaching business you are running, you may need certain licenses and permits to legally operate. Examples include business and commercial activity licenses, employment permits, health and safety requirements, and public liability insurance. Additionally, you may need specialized training or certifications depending on the type of sports being coached.

Starting a sports coaching business requires financial management and often, an injection of capital. Opening a business bank account is a foundational step for handling finances professionally and keeping personal and business expenses separate. If your business plan indicates the need for additional funds, exploring various funding options is crucial for a smooth launch and sustainable growth. Here's what you should consider:

• Choose the right bank: Research banks that offer business banking services with favorable terms for small businesses, such as low fees and good customer service.
• Prepare the necessary documents: Typically, banks will require your business registration details, EIN (Employer Identification Number), and personal identification to open an account.
• Understand banking fees: Be clear about transaction fees, monthly fees, and any other potential costs associated with the business bank account.
• Explore funding options: Look into small business loans, lines of credit, investors or crowdfunding platforms, and consider what aligns best with your business needs and financial situation.
• Develop a clear budget: Create a budget that includes your startup costs, operating expenses, and anticipated revenue streams to understand how much funding you need to secure.
• Prepare a strong pitch: If seeking investors, prepare a compelling pitch that outlines the potential of your sports coaching business, including market analysis, competitive advantages, and financial projections.

Setting the right pricing for your sports coaching services is crucial to attract clients and ensure your business is profitable. It's important to consider your expertise, costs, and the local market when determining your rates. Here are some guidelines to help you establish your pricing:

• Analyze Your Costs: Calculate all your business expenses, such as equipment, facility rentals, insurance, and certifications, to determine the minimum you need to charge to cover your costs and pay yourself a reasonable wage.
• Research Competitor Pricing: Look at what other sports coaches in your area are charging for similar services. This will give you a ballpark figure for setting competitive rates while ensuring you're not undervaluing your services.
• Offer Different Pricing Tiers: Consider having a range of prices depending on the service level, such as group sessions, private lessons, or specialized training programs, to cater to different client budgets and needs.
• Value Your Expertise: If you have specialized skills, certifications, or a strong track record, price your services accordingly. Clients are willing to pay more for higher quality coaching and proven results.
• Consider Package Deals: Providing packages or bundles of sessions at a discounted rate can encourage long-term commitments and upfront payments, improving cash flow.
• Adjust as Needed: Be prepared to revisit and adjust your pricing as you gain more experience, expand your offerings, or when there are changes in the market or your cost structure.

What does it cost to start a sports coaching business?

Initiating a sports coaching business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $5500 for launching such an business. Please note, not all of these costs may be necessary to start up your sports coaching business.

Starting a sports coaching business requires not just skill and knowledge, but also the right equipment and supplies to facilitate effective training sessions. It's essential to invest in quality gear that will endure the rigors of regular use and create a professional environment for your athletes. Here's a list of steps to acquire the necessary equipment and supplies:

• Identify the specific sports equipment required for your coaching specialty, such as balls, rackets, nets, or mats.
• Research reliable suppliers or manufacturers known for high-quality sports gear, and compare prices and reviews.
• Consider purchasing in bulk to save money, or seek out second-hand equipment in good condition to lower initial costs.
• Don't forget the ancillary items like cones, markers, and training aids that are essential for drills and skill development.
• Invest in a first aid kit and safety equipment to ensure the well-being of your athletes during training sessions.
• Consider technology tools such as video analysis software or fitness trackers to offer a modern and enhanced coaching experience.
• Ensure you have adequate storage for your equipment to keep it in good condition when not in use.

List of software, tools and supplies needed to start a sports coaching business:

• Computer ($500 - $4,000)
• Sports coaching software (e.g. Swift Performance, $50/mo)
• Video cameras ($100 - $3,000)
• Sport-specific equipment (varies by sport)
• Website hosting and domain registration ($10 - $50/mo)
• Meeting and conference calls software (e.g. Zoom, $15 - $20/mo)
• Headset microphone ($25-$200)
• Business cards ($20 for 500 cards)
• Gym membership ($25 - $100/mo)
• Marketing materials (e.g. flyers and brochures, varies widely by number of copies desired)

Protecting your sports coaching business with the right insurance is a critical step to safeguard against potential liability and unforeseen events. Here's a guide to help you navigate the process of obtaining the necessary business insurance for your sports coaching endeavor:

• Identify Your Needs: Evaluate the risks associated with your sports coaching business to determine what types of insurance you may need, such as general liability, professional liability, or property insurance.
• Research Insurance Providers: Look for reputable insurance companies or brokers that specialize in insurance for sports businesses or small businesses in general.
• Compare Quotes: Obtain quotes from multiple providers to compare coverage options and costs. Ensure you understand what is included in each policy and any coverage limitations.
• Consider Athlete Insurance: Depending on your sport and clientele, you might also need to encourage or require your athletes to have their own insurance.
• Check Legal Requirements: Verify with local and state authorities to confirm any specific insurance requirements for sports coaching businesses in your area.
• Review Regularly: Once you have insurance, review your policy annually or whenever there are significant changes to your business operations to ensure your coverage remains adequate.

Now that you're ready to launch your sports coaching business, it's time to spread the word and attract clients. Marketing your services effectively is crucial for establishing your presence in the sports community and generating interest among potential clients. Here are some strategies to kickstart your marketing efforts:

• Build a Strong Online Presence: Create a professional website and maintain active social media profiles to showcase your expertise, share client testimonials, and highlight your coaching successes.
• Networking: Attend local sports events, join sports clubs, and connect with schools to build relationships and increase your visibility in the community.
• Referral Program: Encourage word-of-mouth marketing by offering incentives for clients who refer new customers to your coaching services.
• Partnerships: Collaborate with local sports stores, fitness centers, or other coaches to cross-promote services and expand your reach.
• Offer Workshops or Clinics: Host free or low-cost workshops to demonstrate your coaching style and expertise, attracting interested athletes and parents.
• Local Advertising: Use local newspapers, community bulletin boards, and school newsletters to advertise your services to a targeted audience.

Once your sports coaching business is up and running, expanding it thoughtfully is crucial for long-term success. Here are strategies to help broaden your client base, enhance your offerings, and increase your market presence, ensuring your business continues to thrive.

• Develop a Referral Program: Encourage existing clients to refer new clients by offering incentives like discounts or free sessions.
• Partner with Local Schools: Offer your coaching services for after-school programs or special events to tap into the youth market.
• Expand Your Offerings: Add new sports or specialized training options to cater to a wider audience.
• Invest in Marketing: Increase your online presence with a professional website and active social media accounts, and consider paid advertising.
• Host Workshops and Clinics: Organize events to showcase your coaching skills and attract new clients.
• Corporate Programs: Create tailored coaching packages for businesses looking to enhance their employees' teamwork and health.
• Franchise Your Business: If you have a successful business model, consider franchising to allow others to open branches under your brand.
• Leverage Technology: Use apps and online coaching tools to reach clients beyond your geographical area.

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How To Write a Sports Agency Business Plan (Template, Sample)

NOV.28, 2022

1. Sports Agency Business Plan For Starting Your Own Company

This business plan outlines the formation of a sports agency. The business plan for a sports agency will help you in several ways to run your business more efficiently. First, it can assist you in defining your business goals and objectives. Secondly, it can help you formulate marketing strategies. As a third benefit, it can help you develop a good financial plan. The fourth benefit is the ability to assess your opportunities and risks. Finally, it can assist you in preparing your business for the future. 

Several sports businesses can benefit from this business plan, such as a gymnastic instruction business plan , personal training business plan , indoor sports complex business plan , fitness center business plan , etc.

2. Executive Summary

The business.

The [Company] is a professional [sports name] representation and scouting agency. The company will be based in [Country]. As a full-service provider of [sports name] representation services, the company will address the needs of domestic and international clients.

The agency’s focus will be on providing athletes with a well-rounded and comprehensive approach to enhancing their athletic, personal, and professional abilities. 

The sports agency business plan sample includes contract negotiation, player representation, player scouting, and player management. The company strives to provide our clients with the highest quality service and support so they can focus on their craft. It is our goal to help our clients achieve their goals, whether they are on or off the field.

Business Target

The company expects to generate revenue by charging commissions on contracts it negotiates for clients. The purpose of writing a business plan for a sports agency is to help in contract negotiation, marketing, public relations, financial planning, and investment advice.

The company aims to become the premier sports agency in [Country]. This goal will be achieved by expanding into new markets and acquiring other sports agencies.

3. Company Summary

Company owner.

[Company] will be owned by [owner name]. The company owner has put his time, money, and energy into starting the company and is experienced in sports. He has been serving in various sports agencies for the past 15 years.

Why The Sports Agency Is Being Started

The [owner name] had over 15 years of experience as a professional athlete, as well as experience working for a sports agency. His extensive experience in the sports industry has given him an understanding of how to start a sports agency business. His services will be available to athletes at all stages of their careers, from high school to professional. 

How The Sports Agency Will Be Started 

The sports management agency business plans to enhance this business in a way that every athlete will find it a perfect place for their representation, contract negotiation, marketing and branding, public relations, and event planning.

The operational business plan includes a small staff of employees, including a general manager, an assistant general manager, and a few support staff members. A variety of marketing techniques will be used to attract clients, including online advertising, print advertising, and word-of-mouth.

In collaboration with financial experts, [Owner Name] forecasts the following startup costs, including expenses, assets, investments, and loans.

Below is a list of detailed start-up requirements, total startup expenses, total assets, total start-up funding, total funding required, total assets, total liabilities, total planned investment, total capital, total liabilities, and total funding:

4. Services Of Sports Agency

The purpose of the business plan sports agency is to raise $, for the development of a sports management company, the services of the business plan include:

• Contract negotiation and execution with sports teams and leagues  
• Providing training, sponsorship, and financial advice to athletes 
• Providing endorsement and marketing advice to players 
• Supporting a player’s transition to retirement 
• Assisting the family of a player with concierge services 
• Organizing and executing special events for players or teams 
• Organizing a player’s or team’s travel and accommodations 
• Media relations assistance for a player 
• Maintaining a team’s website and social media accounts
• Provide athletes with an opportunity to showcase their talents in front of scouts and coaches by organizing tryouts and open practices
• Follow the latest developments in the sports industry
• In starting a sports management company, the owner has to hire professional staff and experienced management.
• Providing legal services to clients
• Helping the athletes with publicity
• Helping clients get the best insurance policies

5. Marketing Analysis

The most important component of a sports agency business plan example is its accurate marketing analysis. The company’s marketing analysis includes market trends, market segmentation, business target, and product pricing.

Market Trends

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The sports agency industry is predicted to grow in the number of agencies, clients, and money spent on its services in the next three years.

Marketing Segmentation

Marketing strategies for sports agencies in sports agency business plan examples vary depending on their target clientele. For example, if the agency targets professional athletes, its marketing strategy will make use of sports media, online advertising, and personal networking to reach this demographic. 

This business plan will explain how to start a sports management company that caters to both individuals and teams. The goal of this sports agency is to become the exclusive agent for all professional athletes in the United States. This will be accomplished by providing a higher level of service and support to clients than any other sports agency in the country. 

Product Pricing

Depending on the target market and the services provided, the price of a sports agency’s products can differ greatly. For example, a high-end sports agency that caters to professional athletes may charge a much higher rate than a smaller agency that caters to amateurs. The fees charged by sports agencies are usually hourly or flat.

6. Marketing Strategy Of Sports Agency

Competitive analysis .

According to the sports marketing agency business plan competitive analysis, the landscape of sports agencies is extremely competitive. Many large, well-established firms have been in business for many years. In addition to their substantial resources and experience, these firms are well-connected in the industry. Smaller firms are also trying to break into the industry.

Sales Strategy

After analyzing the sports agency business plan pdf which includes marketing analysis, the sales strategy is designed to generate revenue and profit for the company. This strategy includes a plan for marketing, advertising, and public relations. Additionally, it includes strategies for acquiring new clients, retaining existing clients, and expanding the company’s reach.

Sales Monthly

The Sports Agency plans to generate monthly income through the sale of sports performance training services. The sports performance training program will generate revenue for the agency by selling memberships.  According to our experts, the following sales are expected monthly.

Sales Yearly

The sports agency sales business generates revenue by selling sports merchandise, tickets, and other services. According to our experts, the following sales are expected yearly.

Sales Forecast

Our sports agency anticipates relatively consistent sales throughout the year. In terms of sales, we don’t expect any major spikes or dips, but rather a steady stream of revenue. Below is a forecast of our sales:

7. Personnel Plan Of Sports Agency

Company staff.

[Owner] will hire professional company staff in starting a sports agency business. The Company operations will require the following employees:

• VP of Business Development 
• VP of Client Services 
• VP of Marketing 
• Director of Human Resources 
• Director of IT 
• Financial Analyst 
• Administrative Assistant 

The support staff will also be needed, including but not limited to

• Receptionist 
• Office Manager 
• Accounting Clerk 
• Marketing Coordinator 
• HR Specialist 
• IT Specialist 
• Executive Assistant 

Furthermore, the company will need some field staff, including but not limited to

• Event Managers 
• Event Coordinators 

Average Salary of Employees

The average salary for sports agency employees is $60,000. The salary is based on the average salary of all employees, including those in administration, marketing, and sales.

8. Financial Plan For Sports Agency

Financial experts helped [owner] analyze the company’s financial needs and develop a financial plan for how to get into a sports agency. A three-year financial plan is developed by them to outline the company’s development.

Important Assumptions

The following are important assumptions for the financial plan of the sports agency:

Although these assumptions are quite conservative, deviations are expected to be limited to a level that won’t affect the company’s major financial strategy.

Brake-even Analysis

Below is a breakdown of the sports agency’s fixed and variable costs:

Table that shows monthly break-even Analysis

Projected Profit and Loss

The following is the projected profit and loss for a sports agency. 

Profit Monthly

Gross Margin Monthly 

Gross Margin Yearly

Projected cash flow.

The following column diagram shows the projected cash flow.

The following table shows detailed information about pro forma cash flow, subtotal cash from operations, subtotal cash received, subtotal spent on operations, subtotal cash spent, and general assumption.

Projected Balance Sheet

The following projected balance sheet shows data about the pro forma balance sheet, total current assets, total long-term assets, total assets, subtotal current liabilities, total liabilities, total capital, total liabilities, and capital.

Business Ratios

The following table shows data about business ratios, ratio analysis, total assets, and net worth.

• How do sports agencies make money? 

Sports agencies make money in many ways. They charge commissions on contracts they negotiate for their clients. Alternatively, they can charge a fee for their services, which could include marketing, public relations, and contract negotiations.

• How do sports agents get clients?

Sports agents gain clients by building relationships with coaches, scouts, and others in the industry. Additionally, they attend events and meet with potential clients.

Download Sports Agency Business Plan Sample in pdf

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How to Write a Winning Sports Bar Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for sports bar s that want to improve their strategy or raise funding.

A well-crafted business plan outlines your company’s vision and documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the critical elements that every sports bar owner should include in their business plan.

Download the Ultimate Bar Business Plan Template

What is a sports bar business plan.

A sports bar business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Sports Bar Business Plan?

A sports bar business plan is required for banks and investors. The document is a clear and concise guide to your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Sports Bar Business Plan

The following are the key components of a successful sports bar business plan:

Executive Summary

The executive summary of a sports bar business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your sports bar company
• Provide a summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your sports bar. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your sports bar company, mention this.

You will also include information about your chosen sports bar business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an essential component of a sports bar business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the sports bar industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a sports bar’s customers may include:

• Families with young children looking for a casual, affordable place to eat and drink while watching their favorite sports team play.
• Professionals in their twenties and thirties who seek a social environment to watch the game with friends and co-workers.
• Retirees who want to relax in a comfortable setting while enjoying their favorite sports teams.

You can include information about how your customers decide to buy from you and what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or sports bar services with the proper marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will differ from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, or launch a direct mail campaign. Once you grow your crowd of regulars, they may promote your sports bar business via word-of-mouth marketing.

Operations Plan

This part of your sports bar business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, your Operations Plan will outline the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters and the following four years. Examples of milestones for a sports bar include reaching $X in sales. Other examples include hitting certain targets for new customers acquired or social media followers gained.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your establishment. Include brief biographies for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here, you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs and the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Sports Bar

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : Everything you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Sports Bar  

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup sports bar .

Sample Cash Flow Statement for a Startup Sports Bar  

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

A well-written business plan is an essential tool for any entrepreneur looking to start or grow a sports bar company. Leverage these tips to write a winning business plan. Be sure to consult your financial advisor to create accurate financial projections, and remember to update your plan regularly as your business grows.  

Finish Your Sports Bar Business Plan in 1 Day!

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How to Write a Sports Coaching Institute Business Plan [Sample Template]

Are you about starting a sports coaching company? If YES, here is a complete sample sports coaching institute business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a sports coaching institute. We also took it further by analyzing and drafting a sample sports coaching institute business marketing plan template backed up by actionable guerrilla marketing ideas for sports coaching institute businesses. So let’s proceed to the business planning section.

Why Start a Sports Coaching Institute Business?

Sports coaches are known to help athletes develop their full potential. These individuals are in charge of training athletes in a sport by analysing their performances, instructing in crucial skills and by giving encouragement.

The duties of a sport coach is vast and might differ from instructor, assessor, friend, mentor, facilitator, chauffeur, demonstrator, adviser, supporter, fact finder, motivator, counsellor, organizer, planner and the fountain of all knowledge. The coach aims to create the right conditions for learning to happen and to find ways of motivating athletes.

Coaches are very important in the world of sport and so is the institution where they are trained to perform all these duties. If you have the required knowledge and experience, this can be a very lucrative business when started and managed right.

One of the first things you will have to do is to make sure your institution is located in a central place. This means that you have to lease or buy commercial space, preferably a nice complex in the town or city. The reason for choosing a central location is so that students from all over the city can reach the place easily by train or via roadways.

You also have to get hold of the right curriculum along with other materials such textbooks and papers. Once you find the right location and resources, you need to think about promoting your coaching institute to the targeted audience. Have it in mind that competition is intense in this industry and you have to advertise your business effectively to reach out to your potential customers.

Note that with multiple coaching institutes available in the united states, gaining a strong footing in the industry is without doubt a daunting task. It is very important that you keep low tuition fees to attract more and more students to your institute. Maybe as your institute gains more popularity, you can think of increasing the price.

It also important that you be careful when hiring tutors for your institute. Competent tutor means hiring someone who is an expert in the said sport and also meets the requirements of students. You will also need to employ the right teaching techniques if you want to be successful in the sports coaching institute business.

It is a known fact in this business that some teachers want to grab money but in return, they fail to deliver quality education. As a business owner who wants to create massive brand awareness, never compromise with quality.

Always make sure that the students who have enrolled in your coaching institute receive quality education and superb teaching. And for that, you and your fellow tutors need to be constantly updated. The Internet is a vast resource of information and you can make use of it.

A Sample Sports Institute Business Plan Template

1. industry overview.

The job of coaches and sports trainers is to guide people and help them achieve specific sports performance goals. Sports coaches and trainers work closely with athletes in schools and with professional sports teams. These experts teach the basic skills needed in individual or team sports for amateur or professional athletes. They may work full time during the day and coach part time, such as for Little Leagues or soccer teams.

They also create and manage practice sessions and drills, evaluating players and helping them to improve their skills, techniques, form, and stamina. They motivate and encourage individuals and teams to improve their performance. According to statistics, there were 224,110 coaches and scouts employed in the United States in May 2015.

Report has it that the sports coaching industry is an $8 billion business. From 2012 to 2017 this industry, which is made up of more than 130,000 businesses, experienced a 3 percent annual growth. Experts believe this industry will continue to perform well in the years to come because of the increased participation in sports for health benefits as well as to offset the high cost of college tuition through sports scholarships.

Report also has it that fitness trainer’s work with people of all ages in health clubs, gyms, fitness or recreation centres, and in yoga and Pilates studios. These experts lead group classes, instructing students and demonstrating exercises. They are known to also evaluate individuals for their strength and conditioning, and create exercise programs to help people improve their fitness levels.

They teach strength training, stretching, and cardiovascular exercises, demonstrate how to use exercise equipment, and discuss other issues such as nutrition and weight control. Reports has it that the personal training industry is a $9 billion business that has been enjoying steady growth since 2011. From 2011 to 2016 it experienced an annual growth of 3.2 percent.

It is believed that the recent recession had a negative impact on the personal training industry as many people scaled back on personal training sessions to conserve their money. Industry revenue is expected to grow during the next few years as the economy has strengthened and people will be able to spend money again on improving their fitness.

2. Executive Summary

Indeed every game of golf starts with a swing of the club, but to be a golf coach one needs more than just having a good swing yourself. To become a successful golf coach takes intense training in game mechanics and movement, from long drives to short putts and an ability to impart knowledge to students. These are the things we hope to impact on our students at Pioneer Golf Institute.

Pioneer Golf Institute (PGI) is a New Golf coaching institute in Colorado Springs, Colorado, that grooms individuals how to become good and successful golf coaches. We provide essential golf knowledge to wannabe golf coaches and also give out Golf coaching diplomas to successfully graduating students. Our institute also provides a full-service sport complex situated in Colorado Springs for golf enthusiasts.

There are currently no other golf institutes like PGI anywhere in or around Colorado. Our business plan will be used to state the exact scope of our services, as well as a means of gaining the necessary investments to open the facility. It will also be used on a continual basis in the evaluation of our business mission, goals, and objectives.

We at PGI believe that our key to success in this industry is our ability to market our institute effectively, creating an unmatched “cool” atmosphere where people learn and enjoy themselves, and hiring qualified and knowledgeable staff to aid in the running of our programs and leagues.

The Golf industry is a booming business and we are conservatively projecting a modest net profit in our first year of operation with this increasing steadily by the end of the third year. Our business location, Colorado Springs, was chosen because it provides us with less competition and more willing audience.

Colorado Springs is situated near the base of Pikes Peak, which rises 14,115 feet (4,302 m) above sea level on the eastern edge of the Southern Rocky Mountains. Note also that our business city is home to 24 national governing bodies of sport, including the United States Olympic Committee, the United States Olympic Training Centre, and USA Hockey.

The city had an estimated population of 465,101 in 2016, and a metro population of approximately 712,000, making it the second most populous city in the state of Colorado, behind Denver, and the 42nd most populous city in the United States.

3. Our Products and Services

Pioneer Golf Institute is a new Golf institute in Colorado Springs, Colorado that will offer its students and members the following services:

• Golf coaching training, certifications and programs by professionals.
• Golf equipment shop
• Lobby for relaxation and discussion with colleagues where refreshments will be available.
• Golf practice using unlimited number of balls and the best types of feeder. Simulation of various conditions that can be met in a golf course shall be done using sloped mats, tees, sand, targets for pitching and putting training aids.
• Participation in events and activities.

4. Our Mission and Vision Statement

• Our vision at Pioneer Golf Institute is to build a highly competitive golf coaching institute that will become the number one choice for individuals interested in becoming golf coaches in the United States.
• Our mission at Pioneer Golf Institute is to provide our clients with comprehensive golf education so that they can provide outstanding golf teaching and golf coaching services to their respective employers.

Our Business Structure

Our aim at Pioneer Golf Institute is to provide the best programs, staff, and equipment to meet the various golf coaching and fitness needs of our clients, while generating profits for the owners and investors. Our golf coaching Institute will be well organized and managed in a creative and innovative way to generate very high levels of customer satisfaction, and to build a learning climate conducive for personal development.

In the near future, we plan to offer an employee benefit package which will include health and vacation benefits. Everyone but the receptionist will be contract staff, and will be paid a sliding commission scale based on the amount of revenue created. Our business structure is as follows;

• Head of institute

School Administrator

Marketing and Sales Executive

• Client Service Executive / Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of Institute

• In charge of providing direction for the institute
• Creates, communicates, and implements the institute’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall institute’s strategy.
• In charge of fixing fees and signing business deals (partnership)
• In charge of signing checks and documents on behalf of the coaching institute
• Coordinates all arms of the coaching school
• Evaluates the success of the coaching institute
• Reports to the board of the coaching institute
• In charge of overseeing the smooth running of HR and administrative tasks for the coaching school
• Regularly hold meetings with key stakeholders (the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• In charge of training, evaluation and assessment of employees
• In charge of arranging travel, meetings and appointments
• Oversees the smooth running of the daily activities of the coaching institute
• Effectively teach subjects as assigned by the school administrator
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the coaching school
• Contributes his/her quota towards growing the coaching school
• Receives complaints from students and channel it to the appropriate quarters
• Handle any other duty as assigned by the school administrator.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Writes winning proposal documents, negotiate fees and rates in line with the institution policy
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the Institute
• In charge of preparing financial reports, budgets, and financial statements for the institute
• create reports from the information concerning the financial transactions
• Prepares the income statement and balance sheet using the trial balance and ledgers.
• Provides managements with financial analyses, development budgets, and accounting reports
• In charge of financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• In charge of developing and managing financial systems and policies
• In charge of administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the Institute
• Serves as internal auditor for the institute

Client Service Executive

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
• Receives parcels/documents for the institute
• Distribute mails in the institute
• In charge of cleaning the institute at all times
• Ensures that toiletries and supplies don’t run out of stock
• Handles any other duty as assigned by the school administrator
• Ensures that the institute is secured at all time
• Controls traffic and organize parking
• Patrols around the institute on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator.

6. SWOT Analysis

Pioneer Golf Institute is a single sport coaching and fitness complex designed to be used by residents of Colorado and the surrounding areas. Apart from providing an excellent value to our customers, we are determined to establish an unmatched learning and sporting atmosphere that will add to the knowledge and enjoyment of every students and employee in the Institute.

We also understand that we cannot do all these if we know nothing about our industry and our chances for survival. To find out these facts, we hired the services of well-known professional in the area of business consulting and promotion with solid experience in the sports sector to help us in establishing a standard and competitive golf coaching Institute that can compete effectively in the golf industry.

They had to work with the management of our Institute in conducting our SWOT analysis. Outlined below is a summary from the result of the SWOT analysis that was conducted for Pioneer Golf Institute.

According to our Swot analysis, our strength in this industry is as follows; We at PGI must establish our institute as a distinguished name in Colorado and creatively market our services to each of our market segments.

Our SWOT analysis noted that by establishing an impeccable atmosphere in our institute through the use of first class equipment, elegant and comfortable lobby, showers and changing rooms, floors, colours and decoration, clients will want to frequent our institute and recommend it to their colleagues and friends.

It also stated that by providing our students with skilled and qualified staff who show genuine concern for the students, people will feel comfortable and confident that we can meet all of their golf coaching needs.

According to our SWOT Analysis, it might take some time for our golf coaching Institute to break into the market and gain acceptance via reputation in the already saturated education cum golf coaching industry. This it is believed is our major weakness at Pioneer Golf Institute.

• Opportunities

Indeed the opportunity in the golf coaching business is vast and lucrative. People are becoming conscious of their health and are looking to exercise more often. Golf on its own is growing in popularity and people are always willing to improve their skills. We believe that the growing demand for qualified golf coaches is also creating a massive demand for excellent golf institutes that will provide adequate knowledge to the ever innovative and brilliant golf industry.

Our SWOT Analysis at Pioneer Golf Institute noted that some of the threats we will face as a Golf coaching Institute in the United States of America will include unfavourable government policies that might affect the education system, the appearance of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power. We have made plans to curtail all possible challenges and threats.

7. MARKET ANALYSIS

• Market Trend

According to our research, 2018 has brought a lot of opportunities to golf training and the game itself. One way golfers are already taking their game to the next level is with the Srixon Fourth Generation Q-Star ball that premiered at the PGA show in Las Vegas back in 2017.

Note that this next generation of Q-Star comes with a lower-compression Energetic Gradient Growth core, which has variable stiffness and firmness to deliver the proper feel and distance control for each shot type. A more efficient 338 Aerodynamic Speed Dimple pattern has been designed to offer more control and predictability in the wind. Although not completely new to 2018, experts expect this ball to trend throughout this year.

Report has it that golf shoes are expected to become a little wilder this year. Indeed we can’t completely discuss golf trends without commenting on the tech that continues to transform the game each year. Ranging from swing analysers to wearable tech, 2017 provided us with the chance to take the game one step further.

Artificial intelligence even made an appearance on the course in May 2017. This year experts anticipate the emergence of smartphone apps to enhance golf coaching and game. The game has also developed a little reputation for being a non-cardiovascular sport over the years.

After all, the amount of movement required to play a round of golf doesn’t provide the cardiovascular benefits that a sport like football might provide. But this present year has changed all of that. This year, golf that incorporates more cardiovascular activity is supposed to be a big fad on courses all over the United States.

8. Our Target Market

Pioneer Golf Institute is the only institute of its kind in all Colorado and surroundings (more than one million people). Some aspects of the location will cater mainly to golf coaching and training students while the other area will cater for our course members.

Due to the flexibility of time schedule, the independency of weather conditions, and in combination with the comfortable auto feeding system, we at Pioneer Golf Institute believe that our target market differ from coaching students to people who want to learn about golf, have some stress relief leisure activities and socialize with other members.

We will also develop good relations with well-known golf courses, clubs and schools in Colorado in order to teach golf to youths.

• Our competitive advantage

We at Pioneer Golf Institute believe our institute has a very large potential market. Due to the uniqueness of our institute throughout Colorado, we strongly believe we can become the main golf teaching institute quickly. We plan to accomplish this actively and continuously by promoting our institute through media as well as hosting and supporting various community events.

We also believe our competitive advantage at Pioneer Golf Institute is in three segments. First, our coaching institute is the only golf coaching institute that offers our kind of training facilities. The second segment of our competitive advantage is our business location, size, and appearance of the institute that will attract many people.\

Lastly, our well stocked golf shop where the students can find first class equipment in the best prices in Colorado and have the possibility to test them in actual conditions.

We at Pioneer Golf Institute strongly believe that by maintaining our focus in our strategy, marketing, program development, and fulfillment, our coaching institute will be known as the top golf training institute in the Whole of United States in no time.

9. SALES AND MARKETING STRATEGY

• Marketing and Sales strategy

Note that our Sales at Pioneer Golf Institute will be based on the services and amenities provided by our institute. We plan to ensure that all the users of our institute must feel they are getting the best possible value for their money. If there is a better value, for equal services, we at Pioneer Golf Institute will strive to match or beat that value for customers.

We also plan to ensure that any person desiring a membership at our institute to study or to play will be clearly notified of all our membership options. During this brief discussion, the person will be also informed of all of the courses, certifications, services, programs and amenities we at Pioneer Golf Institute has to offer. We plan to build our marketing plan around the following;

• Focus on service and support.
• Establish a relationship business.
• Focus on golf equipment as the key target market.

Sources of Income

Pioneer Golf Institute is built with the aim of generating substantial income in the golf coaching industry by leveraging all available opportunities in the industry. We plan to sustain our business and make profits through the following means;

• Tuition and fees for our golf coaching training, certifications and programs by professionals.
• Sales and profits from our golf equipment shop
• Sales and profits from our Lobby used for relaxation and discussion by students and members where brandy, cigars and refreshments will be available.
• Charges for golf practice and balls

10. Sales Forecast

We at Pioneer Golf Institute assume that by the end of our first year, we must have registered 200 students and 100 members. We also expect an enviable growth rate for several years, up to 500 members. That will be the maximum number of members that can be accommodated by this Institute.

Further expansion of the grounds shall be considered in future. Also note that the first year students’ and members’ registration is considered incremental and of course at first months and summer period is expected to be low. But we also assume that by next year, our growth rate will be steady although the numbers are very pessimistic for safety reasons.

Have it in mind that all sales items are related and proportional to memberships except the advertising. However, even this will increase if the popularity of our institute does so.

Also the sales of equipment are also very pessimistic because golf is still growing in popularity in Colorado. Generally our institute has been planned to accommodate 500 members and students, the maximum possible, which is a very realistic target since it will be the pioneer in a virgin market which is ready to make significant steps in future.

It important to state that Colorado Springs’ economy is driven primarily by the military, the high-tech industry, and tourism, in that order.

Report has it that the city is currently experiencing some growth mainly in the service sectors. The unemployment rate for the city as of October 2015 was 3.9%, a decrease from 4.8% in October 2014 and 7.3% in November 2013 and compared to 3.8% for the state and 5.0% for the nation.

11. Publicity and Advertising Strategy

We know the benefits of a good publicity strategy, which is why even though we have no specific marketing plan, we hope to leverage a lot of strategies to boost our business through publicity. We at Pioneer Golf Institute are very ready to become the number one choice when it comes to golf training.

That is why we made provisions for effective and direct publicity and advertisement of our golf coaching Institute. Outlined below are the platforms we hope to leverage on to promoting Pioneer Golf Institute;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events/programs
• Develop ongoing relationships with guidance counsellors that will refer their students to the Coaching School on an ongoing basis.
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our billboards in strategic locations all around Colorado Springs.
• Distribute our fliers and handbills in target areas in and around Colorado Springs
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangout etc.
• Ensure that all our teaching and non – teaching staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo.

12. Our Pricing Strategy

Educational institutions all over the United States of America charge students per term/per session and students have the options of either paying their tuition before resumption or during the school session. We also know that Golf coaching institutions generally bill their clients based on loads of factors like equipment, curriculum, duration, services offerings and extra – curricular activities et al.

Our pricing plan at Pioneer Golf Institute is to keep our fees below the average market rate. We also hope to give out special discounted rates to all our members at regular intervals. We also understand that there are some of our prospective clients that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such needs.

• Our Payment Options

We at Pioneer Golf Institute plan to establish different payment options that will suit our members and students at any given time and place. We have also made plans and partnered with well-known banking platforms in the United States of America in other to offer these services. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via mobile money
• Payment with cash

13. Startup Expenditure (Budget)

We understand that the cost of starting our business will depend on the approach and scale of the business. Pioneer Golf Institute will be a medium sized golf coaching school that will provide a comfortable location for our clients to learn and practice.

We plan to spend our start-up costs on mostly equipment purchase, main building (which will be a wooden pre-fabricated building of good quality), coaching and training centre construction, golf equipment for the retail store, stationery, legal costs, advertising, land rent and expenses associated with opening our first office. Below is a detailed cost analysis of starting Pioneer Golf Institute;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $103,500
• Acquiring a large building and course that will accommodate the number of block and classes et al (Re – Construction of the facility inclusive) will cost – $600,000
• Equipping the training ground and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $150,000
• Launching an official Website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $50,000

From our detailed analysis above, we have come to the conclusion that we will need approximately $1,200,000 to start up Pioneer Golf Institute.

Generating Funding/Start-up Capital for Pioneer Golf Institute

Pioneer Golf Institute will be a Limited Liability Corporation financed partially by direct owner investment and a long-term loan. Michael Neil and Santos Wonsan will own 25% of the company each. While the other two limited partners will own 40% and 10% respectively. These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

We have been able to raise about $800,000 (Personal savings $670,000 and soft loan from family members $130,000) and we are at the finishing stage of getting a loan facility of $500,000 from our bank. We’ve made sure that all the required papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

We at Pioneer Golf Institute will issue a certificate of completion after our golf coaching course. We expects that each course we offer will last approximately eight weeks and will provide 100 hours of class and training ground instructions.

Our major goal is to be a profitable business starting from the very first month of our opening. Due to the size, appearance and convenient location of our institute, we believe a lot of people will be attracted to our institute to see what we have to offer. But, we do not plan to wait for students and members to come to first. Instead, we plan to focus our marketing strategies on those target audience that match our offerings.

Note that our main objective with our early marketing strategy will be to get people into our institute and convince people that we can bring golf to Colorado. We believe that once people see what we have to offer, and feel the atmosphere that will be created, they will want to return and participate in the many activities and programs we provide. Some of the ways we plan to get people into our institute include:

• Giving specialized tours and lessons to junior and senior high schools during the building and early completion of the institute.
• Hosting and/or supporting various community events that will attract many people who otherwise will not come.
• Free testing of golf equipment.
• Mailing our free day passes to managers of golf clubs
• Offering special discounts for annual subscriptions.
• Hosting a big promotional event to open the institute that will be free to everyone.

Checklist/Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting feasibility studies: Completed
• Leasing, renovating and equipping our facility: Completed
• Generating part of the startup capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress

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Sporting Goods Store Business Plan

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Sporting Goods Store Business Plan?

Writing a sporting goods business store plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Products and services:.

Highlight the sporting goods products & services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of sporting goods company you run and the name of it. You may specialize in one of the following sporting goods businesses:

• Sporting goods retail store
• Online sporting goods store
• Specialty sports store
• Sports equipment rental
• Sports apparel & accessories
• Describe the legal structure of your sporting goods company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established sporting goods business, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your sporting goods store business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your products & services:

Mention the sporting products & services your business will offer. This list may include:

• Sports equipment
• Sports apparel
• Accessories
• Team uniforms
• Outdoor gear
• Equipment rental
• Equipment repair & maintenance
• Sports training & coaching

Describe each product:

Provide a detailed description of each product category you provide, for example for sports equipment:

Quality measures

: This section should explain how you maintain quality standards and consistently provide the highest quality products.

Additional Services

In short, this section of your sporting goods plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your sporting goods store business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your sporting goods business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & machinery:.

Include the list of equipment and machinery required for sporting goods business, such as manufacturing equipment, maintenance & repair equipment, retail store equipment, fitness equipment, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your sporting goods business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your sporting goods business, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your sporting goods retail store business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample sporting goods store business plan will provide an idea for writing a successful sporting goods plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our sporting goods store business plan pdf .

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Frequently asked questions, why do you need a sporting goods store business plan.

A business plan is an essential tool for anyone looking to start or run a successful sporting goods business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your sporting goods company.

How to get funding for your sporting goods business?

There are several ways to get funding for your sporting goods business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your sporting goods business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your sporting goods store business plan and outline your vision as you have in your mind.

What is the easiest way to write your sporting goods store business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any sporting goods store business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a sporting goods store business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my sporting goods store business plan?

The level of detail of the financial projections of your sporting goods business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a complete view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What key components should a sporting goods store business plan include?

The following are the key components your sporting goods store business plan must include:

• Executive summary
• Market Analysis
• Products and services
• Sales and marketing strategies
• Operations plan
• Management team
• Financial plan

Can a good sporting goods store business plan help me secure funding?

Indeed. A well-crafted sporting goods business will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can certainly help you secure your business funding.

What's the importanWhat's the importance of a marketing strategy in a sporting goods store business plan?ce of a marketing strategy in a scrap metal business plan?

Marketing strategy is a key component of your sporting goods store business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It enables you to develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to write a business plan for a sports bar?

Creating a business plan for a sports bar is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a sports bar business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a sports bar?

What information is needed to create a business plan for a sports bar.

• What goes in the financial forecast for a sports bar?
• What goes in the written part of a sports bar business plan?
• What tool can I use to write my sports bar business plan?

Having a clear understanding of why you want to write a business plan for your sports bar will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a sports bar business plan.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your sports bar is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your sports bar, you'll have to:

• Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
• Determine the pace at which the business needs to progress to meet its objectives as scheduled,
• Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

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To anticipate future cash flows

Regularly comparing your actual financial performance to the projections in the financial forecast of your sports bar's business plan gives you the ability to monitor your business's financial health and make necessary adjustments as needed.

This practice allows you to detect potential financial issues, such as unexpected cash shortfalls before they escalate into major problems. Giving you time to find additional financing or put in place corrective measures.

Additionally, it helps you identify growth opportunities, like excess cash flow that could be allocated to launch new products and services or expand into new markets.

Staying on track with these regular comparisons enables you to make well-informed decisions about the amount of financing your business might require, or the excess cash flow you can expect to generate from your main business activities.

To secure financing

Whether you are a startup or an existing business, writing a detailed sports bar business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your sports bar has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a sports bar, let's take a look at what information is needed to create one.

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

Writing a sports bar business plan requires research so that you can project sales, investments and costs accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a sports bar

As you consider writing your business plan for a sports bar, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your sports bar.

You may find that customers prefer craft beer and specialty cocktails, as they could be looking for more unique beverage options. Additionally, you might uncover that customers are looking for healthier food options, as they may be seeking out lighter fare.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your sports bar.

Developing the marketing plan for a sports bar

Before delving into your sports bar business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of a sports bar

As you embark on starting or expanding your sports bar, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

Staffing costs for a sports bar might include hiring and paying servers, bartenders, cooks, dishwashers, and cleaning staff. Equipment costs might include purchasing audio-visual equipment for broadcasting sports games, bar equipment such as glasses and refrigerators, tables and chairs, and kitchen equipment such as grills and ovens.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

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The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

What goes into your sports bar's financial forecast?

The objective of the financial forecast of your sports bar's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a sports bar are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a sports bar shows how much revenue and profit your business is expected to make in the future.

A healthy sports bar's P&L statement should show:

• Sales growing at (minimum) or above (better) inflation
• Stable (minimum) or expanding (better) profit margins
• A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established sports bar.

The projected balance sheet of your sports bar

The balance sheet for a sports bar is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

• Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
• Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your sports bar's liquidity and solvency:

• Liquidity: assesses whether or not your business has sufficient cash and short-terms assets to honour its liabilities due over the next 12 months. It is a short-term focus.
• Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your sports bar's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your sports bar has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your sports bar business plan.

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

• Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
• Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
• Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your sports bar business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your sports bar as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

Having this table helps show what costs are involved in setting up your sports bar, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your sports bar business plan, let's shift our focus to the written part of the plan.

The written part of a sports bar business plan

The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, who you compete against, and what strategy you will put in place to seize the commercial opportunity you\'ve identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a sports bar business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The first section of your sports bar's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your sports bar, current trends, and potential growth opportunities.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

In your sports bar business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your sports bar, you could highlight its potential for success due to its close proximity to numerous attractions. These attractions may include shopping centers, entertainment venues, and other high-traffic areas. Additionally, you could discuss the potential of the local population to increase over time, as well as its current population size. You could also emphasize the visibility of the sports bar, as it could be seen by thousands of potential customers each day. Furthermore, you could discuss the potential for increased customer loyalty as a result of being in a high-traffic area.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your sports bar could offer customers an array of speciality beers, an extensive selection of pub food, and big-screen TVs for watching the game. Customers could come in to enjoy a cold beer, grab a bite to eat, and watch their favorite teams compete in a live sporting event. The variety of beers and food will help to attract different types of customers, while the TVs provide an extra level of entertainment and engagement.

4. The market analysis

When outlining your market analysis in the sports bar business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your sports bar, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your sports bar targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include young adults who love to watch sports. They are likely to be between the ages of 18 to 34 and live in the area where the sports bar is located. They could be students, professionals, or even self-employed individuals who enjoy watching sports with friends and having a few drinks.

In the competition subsection, introduce your main competitors and explain what sets your sports bar apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your sports bar.

5. The strategy section

When crafting the strategy section of your business plan for your sports bar, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your sports bar faces a variety of risks. For example, you may face the risk of theft or vandalism, as there may be people who might be willing to damage the property or take items without permission. Additionally, you could face the risk of decreased profits due to changing customer preferences or competition from other businesses. You may also have to manage the risk of income fluctuations due to seasonal changes in customer demand.

6. The operations section

The operations of your sports bar must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your sports bar - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You may have an extensive list of craft beers and other alcoholic beverages that could be considered a key asset. Additionally, the atmosphere of your sports bar might be another asset, as customers could come in for a friendly and entertaining environment. Furthermore, you could have certain recipes or techniques that customers love that could be considered intellectual property. Lastly, you might have certain sports memorabilia or decorations that contribute to the overall experience.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we discussed earlier in this guide.

Now that you have a clear idea of what goes into a sports bar business plan, let's look at some of the tools you can use to create yours efficiently.

What tool should I use to write my sports bar's business plan?

In this section, we will be reviewing the two main solutions for creating a sports bar business plan:

• Using specialized online business plan software,
• Outsourcing the plan to the business plan writer.

Using an online business plan software for your sports bar's business plan

The modern and most efficient way to write a sports bar business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your sports bar's business plan

Outsourcing your sports bar business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the sports bar business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your sports bar's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a sports bar business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my sports bar business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a sports bar business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
• A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
• A business plan has 2 main parts: a financial forecast outlining the funding requirements of your sports bar and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your sports bar business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

• How to write a business plan to secure a bank loan?
• Key steps to write a business plan?
• Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a sports bar? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Former NFL star reflects on past financial mistakes, issues warning to current players: 'It's a short career'

'we are thinking about life after the fifteen minutes of fame are up,' wale ogunleye said.

Pro athletes must think about life after sports because it is a ‘short career’: Wale Ogunleye

Former NFL player Wale Ogunleye joins ‘Cavuto: Coast to Coast’ to share his top financial advice with young athletes as NIL deals continue to shake up college athletics.  

Former NFL star Wale Ogunleye is using his financial expertise to work with current and former professional athletes who want to avoid burning through their fortune.

Adewale "Wale" Ogunleye, a former Pro-Bowl defensive end, leads the UBS Sports and Entertainment business for Wealth Management, giving him the unique opportunity to help athletes avoid making the same financial mistakes he, and many other athletes, have made.

EX-NFL STAR AT UBS KEEPS PLAYERS FROM GOING BROKE "When it came to my finances, I was putting my own hard-earned money at risk by not understanding my finances," the former captain for the Chicago Bears told "Cavuto: Coast to Coast" on Wednesday.

CHICAGO, IL - OCTOBER 4: Adewale Ogunleye #93 of the Chicago Bears acknowledges the crowd against the Detroit Lions at Soldier Field on October 4, 2009 in Chicago, Illinois. (Photo by Dilip Vishwanat/Getty Images) (Getty Images / Getty Images)

Ogunleye highlighted the importance of surrounding yourself with people who are seeking a "real relationship," not just a transactional one.

"[Athletes] can't make mistakes. And those mistakes are magnified tenfold when it comes to the short lifespans that they have." - Former NFL player Wale Oguneleye

"What we've been doing at UBS is making sure that the advisers that are in our Sports Entertainment Division understand who these athletes are, understand why it's important that they think about life after sports," Ogunleye explained to host Neil Cavuto. 

"At the end of the day, it's a short career. And if you plan now, get the right people around you, that's setting yourself up for success."

Former NFL player Wale Ogunleye spotlights importance of having a ‘financial plan’

Former NFL player Wale Ogunleye joins ‘Varney & Co.’ to discuss his post-league endeavors to provide financial advice to players.

The former NFL star warned athletes not to be a "head-nodder" like he was. "I would hear terms that I didn't understand, and so I didn't look like I didn't know what I was saying. I would nod my head and say, 'yes.' But the truth of the matter is, most individuals, not just athletes, most Americans don't understand their finances ," he said Wednesday. 

YOUTUBE INFLUENCER GROUP DUDE PERFECT SCORES MORE THAN $100M INVESTMENT

"It becomes a problem with athletes because it's a short period of time that they have to earn this money. They can't make mistakes. And those mistakes are magnified tenfold when it comes to the short lifespans that they have," he warned. "For us, we're trying to make sure that we put our clients, our athletes, entertainers in positions that they're thinking about their future; that they're surrounding us with a network of individuals within their ecosystems that are going to help build a lasting legacy," Ogunleye argued.

CULVER CITY, CALIFORNIA - JANUARY 26: Head of sports and entertainment, UBS Adewale Ogunleye speaks at Own Your Worth: Why the most decorated US track and field Olympian chose not to stay in her lane at Margot on January 26, 2022 in Culver City, Cali (Getty Images / Getty Images)

The financial expert concluded, saying that even if you are Tom Brady who played for 20 years , "you still have to figure out what's next."

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Oakland A’s to play in Sacramento’s Sutter Health Park beginning in 2025 ahead of move to Las Vegas

The 2024 season — the 57th that the Athletics have played in Oakland — is to be their last.

The A’s announced Thursday that they are moving to a minor-league stadium in Sacramento for 2025-27, with an option to stay for an additional year. Sutter Health Park, the home of the Triple-A Sacramento River Cats, will become a major league stadium for at least three seasons. The A’s will be sharing the park, which has a capacity of 14,000, with the River Cats who will continue to play in the stadium when the A’s are away.

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The A’s hope to move to Las Vegas in time for the 2028 season, but the inclusion of a fourth-year option to stay in Sacramento indicates the club has planned for the possibility that its move to Vegas may be delayed.

“We look forward to making Sutter Health Park our home through our move to Las Vegas,” A’s owner John Fisher said in the release. “We extend our appreciation to the Kings and the City of West Sacramento for hosting the A’s while we work to complete our new ballpark in Las Vegas.”

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The Sacramento Kings are the majority owner of the River Cats.

Asked if the team would change its name to the Sacramento A’s, a spokesperson said the club will be called the Athletics and A’s for the interim period.

The A’s did not disclose how the move to Sacramento affects their TV rights fees. Before Thursday, the expectation among people briefed on negotiations between the club and NBC Sports California was that if the team moved to Sacramento, the A’s would be able to retain a significant amount of the estimated $70 million they are owed.

The A’s were in negotiations with both Sacramento and Oakland for an interim home for 2025-27. The team’s lease at its current park, the Coliseum in Oakland, expires after this season.

“Oakland offered a deal that was fair to the A’s and was fiscally responsible for our city,” Oakland mayor Sheng Thao said in a statement. “We wish the A’s the best and will continue our conversations with them on facilitating the sale of their share of the Coliseum site. The City of Oakland will now focus on advancing redevelopment efforts at the Coliseum.”

According to a person briefed on the negotiations, Oakland’s final offer to the team to stay in the city for 2025-27 included a $60 million lease-extension fee the A’s would pay, down from $97 million the city had previously proposed. The A’s were also asking MLB to provide the city with an exclusive, one-year window to find an owner for an expansion team.

“On behalf of all of MLB, I want to express my appreciation to West Sacramento, Sutter Health Park, the Kings and the greater Sacramento region for their excitement to host the A’s for interim play, as the A’s new permanent home is built in Las Vegas,” MLB commissioner Rob Manfred said in a release.

It is not clear what upgrades or modifications are required to ensure that Sutter Health Park meets the standards called for by the sport’s collective bargaining agreement.

“The MLBPA has had preliminary discussions with MLB about a range of issues related to the temporary relocation and we expect those discussions to continue,” the players association said in a statement.

Sutter Health Park in West Sacramento will host the A's for the 2025-27 seasons – ahead of the team's move to Vegas in 2028. pic.twitter.com/KryyjzpLMl — Oakland A's (@Athletics) April 4, 2024

“Sutter Health Park just recently went through a multi-million-dollar facilities renovation. We will ensure that the ballpark will continue to be modified to meet MLB standards, including upgrading LED lighting and adding an additional clubhouse, among other items,” the A’s said in a statement.

“I’m thrilled to welcome the A’s to Sutter Health Park, where players and fans alike can enjoy a world-class baseball experience and create unforgettable memories,” said Kings owner Vivek Ranadivé in a release. “Today marks the next chapter of professional sports in Sacramento. The passion of our fans is second to none, and this is an incredible opportunity to showcase one of the most dynamic and vibrant markets in the country.”

Sacramento mayor Darrell Steinberg said Thursday that the announcement was “a moment of conflicting emotions,” and while he felt Oakland deserved an MLB team, he was “over the moon for my city, our region and our state,” that Sacramento would be the A’s temporary home.

“Success breeds more success. A decade ago, when we united to save the Kings, many of us said yes because we believed it would bring untold benefits to the future of Sacramento. Not only did we keep our NBA team, but now (at least temporarily) we are a Major League Baseball city. There will be more great days to come. It’s truly the stuff of dreams,” Steinberg said.

Required reading

• Oakland A’s fans celebrate their community, process their grief in possible last Opening Day
• Q&A: Architect of A’s Las Vegas stadium on Sydney Opera House comps, ‘armadillo’ look
• Athletics unveil design for new ballpark in Las Vegas after months of delays

(Photo: Matt Kartozian / USA Today)

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Utah Rep. John Curtis calls plan to keep coal plants open ‘market-driven policies’

By alixel cabrera - utah news dispatch | apr 4, 2024.

Evan Cobb, Daily Herald file photo

Rocky Mountain Power made public its updated Integrated Resource Plan on Monday, establishing its intentions to extend the operational lives of  two major coal powered plants  and cut down on new capacity from renewables.

The Hunter and Huntington plants, both located in Emery County, won’t retire in 2036, as stated in a previous version of the plan released in May 2023. Instead, the Hunter plant will keep its fossil fuel operations until 2042, and the Huntington plant will stay open until 2036.

The news sparked disappointment among clean energy advocates, who argued the change of plans was “a setback for our clean energy future and our economy.” However, for Rep. John Curtis, R-Utah, the change of plans is representative of “why market-driven policies are better answers than the government picking winners and losers.”

“We can’t move faster than the pace of technology if we want a reliable and resilient energy grid,” Curtis said in a statement. “With Utah’s natural resources, it is possible to reach our goal of affordable, reliable, and clean energy.”

Curtis represents Emery County, an area that has drawn heated discussions in the Utah Legislature as lawmakers  passed multiple bills  allowing the state to protect and prioritize already established energy sources, such as coal.

Curtis  has said in the past that fossil fuels should be part of an affordable, reliable and clean energy future and has urged policymakers “to stop demonizing the workers and communities who have powered our country for generations using traditional energy sources.”

However, Utah has an opportunity to be a leader on renewable energy, climate advocacy groups said in response to the utility change of plans. But, in order to achieve that, the state should reduce its reliance on fossil fuels and accelerate investments on solar, wind and energy storage.

“The time to do this is now, when we have  historical opportunities  to benefit from federal programs to invest in workers, in energy communities, and in cleaner generation,” HEAL Utah said in the statement on Tuesday.

Utah News Dispatch is a nonprofit, nonpartisan news source covering government, policy and the issues most impacting the lives of Utahns.

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How the Paris Olympics Will (Really) Impact Fashion Week

• Robert Williams

PARIS — Many Parisians say they’re dreading the 2024 Olympics. Indeed, “cauchemar” is the word most frequently used to describe the prospect of accommodating 15 million visitors in what is already Europe’s most densely populated city. (The forecast is more than double the number of tourists who visited the Paris region in July and August last year).

But separating French fatalism from real concerns over how the games will impact life in Paris for locals and visitors alike, from road closures and security checkpoints to price gouging by airlines and hotels, has been challenging.

For fashion brands, getting to grips with the situation is critical: The upcoming menswear and haute couture seasons — scheduled for June 18 to 25 — will take place just as preparations for the games, which open July 25, kick into overdrive.

For the past year, Paris authorities have communicated proactively on the perimetres of various “yellow” and “red zones” — areas that will find themselves enclosed by security checkpoints — as well as various changes to public transit during the games.

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Still, the infrastructure for the Games won’t pop up overnight, and information on how the lead up to the event will impact Paris Fashion Week has only gradually come into focus, making it difficult for brands to plan.

‘This Won’t be a Tiny Fashion Week’

The FHCM (Fédération de la Haute Couture et de la Mode), Paris Fashion Week’s organising body, has sought to reassure participants that with enough advance planning, the challenges for fashion week can be overcome.

“Security, deliveries, casting, production — pulling all of this off will depend on dialogue with the brands, with the authorities,” FHCM executive president Pascal Morand said. “But so far, the general feeling is that everyone, including the City, wants this fashion week to be a success.”

For over a year, the Federation has been working with authorities including the police prefecture, City of Paris, Olympic Committee and French Ministry of Culture, maintaining a running list of 260 venues that are often used for fashion week and keeping track of how they’ll be impacted.

The group reinforced its partnership with the Palais de Tokyo, a contemporary art museum in the 16th arrondissement that already hosts many shows, in the hopes that more emerging brands can take advantage of the sprawling venue, which already has contracts in place for production, lighting and security.

While the official calendar isn’t expected before late April, the Federation says around 90 percent of brands have confirmed their slots for both the menswear and couture season. Valentino is among the handful of absences, though the brand cancelled its next two shows due to the arrival of a new designer rather than the Olympics.

“This won’t be a tiny fashion week. 2024 will be a great year for Paris — including Paris fashion,” Morand said.

Off-calendar presentations and showrooms are less certain. 247, the distributor for brands including Rhude, Peter Do and Collina Strada, said it would skip Paris this season, opting to showroom only in Milan.

City Centre Hold-Ups

In February, Condé Nast and FHCM announced they had partnered to bring Anna Wintour’s “ Vogue World” extravaganza to Paris for the first time this June, during haute couture. The move sent a signal that this year’s fashion weeks would be unmissable as ever despite the disruptions.

Of course, in order for Vogue to have secured the complete shutdown of Place Vendôme for the event, it can’t have hurt that most traffic in the neighbourhood will already be cut off.

The city recently confirmed that nearby Place de la Concorde would be closed down completely in June as it is transformed into an “urban sports” venue for events including skateboarding and BMX. Concorde, the former site of the guillotine, is now a sprawling traffic square that connects key Paris arteries like the Champs-Elysées, Rue de Rivoli and streets running along the River Seine. The Concorde and Tuileries metro stations will also be closed.

For participants who plan on staying in or doing business in the neighbourhood’s hotels like the Crillon, Meurice, Westin or even the Paris Ritz, comfortable footwear and a manageable schedule are likely in order.

Pont Alexandre III (the bridge connecting venues like the Petit Palais or nearby Avenue Montaigne with the Left Bank) will also be closed in preparation for July 25′s Opening Ceremony on the River Seine. Only the lower quais are set to be closed during June, but the flurry of set-up along the riverbanks will make for tight passage all around.

Production Challenge

Those blocked thoroughfares come on top of other challenges: dozens of venues that might otherwise host fashion shows have been requisitioned for the games.

“The biggest complexity is about the venues — many of the usual and iconic places are being used for the Olympics. The same goes for the construction companies and other suppliers… Then the police prefecture has wanted to examine requests at least two months in advance — and they are being much more strict,” said Emmanuel Heimann, global managing director at production company La Mode En Images .

“The solution has been to work a long time in advance: for the biggest brands we encouraged them to decide things much earlier than they usually would,” Heimann added. Smaller brands who tend to operate at the last minute may struggle: “Literally everything is booked up,” he said.

Security, Travel Costs

With municipal and national police forces slated to be fully mobilised during the Olympics, fashion brands are being asked to hire private security to assist with arrivals traffic and other safety issues. While most big brands already use private security, smaller labels often request city approval at the last minute and still count on police to lend a hand with security.

Travel costs have been another concern, but while Paris airfares had initially spiked for the whole summer, prices on many routes have come back down to relatively normal levels until the games begin in earnest.

The price of full-service hotels continues to climb, however, with Olympics price gouging speeding up a phenomenon that has already strained budgets for fashion and design weeks in Paris and Milan in recent years. Some businessy addresses like the 4-star Westin Paris Vendôme remain within reach (remaining rooms during mens week start at €400/night), but palaces like the Hôtel Georges V are priced from an eye-popping €2,980.

For fashion week visitors toying with the idea of switching to a rental apartment, this could be the season to take the plunge: many Parisians have converted their homes to vacation rentals this summer in the hopes of cashing in on the Olympics boom, meaning trendy accommodations in neighbourhoods less impacted by the games are currently on offer.

Worth the Hassle?

While the season may pose more logistical challenges than usual, the increased international spotlight on Paris could also make the season an important moment for brands to reaffirm their French identity — as well as a chance to accelerate their efforts on forging closer ties to sport.

From an Opening Ceremony that will involve 160 boats parading down the Seine River, to fencing in the Grand Palais to horse jumping in the gardens of Versailles, the Paris 2024 Olympics are sure to count among the most telegenic sporting events in history.

But athletes’ big tie-ups with sportswear brands, the Olympic Committee’s long-standing sponsorship deals with the likes of Omega and LVMH’s “premier” partnership with the Paris Games could all make it tricky for other designer brands to steal the spotlight. Fashion week remains their best bet.

“So far, it doesn’t feel like a drama,” fashion publicist Lucien Pagès said. “Brands who want to show are going to show.”

“Just because there is the Olympics doesn’t mean we shouldn’t try to do something spectacular,” Heimann said. “Fashion doesn’t stop.”

LVMH Inks Blockbuster Olympics Deal

The Louis Vuitton owner and its brands will be front-and-centre at the Paris 2024 games, deepening the conglomerate’s ties to the world of sport.

Vogue World to Kick Off Couture Week With Olympics Tribute

The production will take place on June 23rd on Place Vendôme and feature fashion content overseen by Carine Roitfeld, Ibrahim Kamara and fashion historian Alexandre Samson.

Fashion’s Evolving Approach to the Olympics

An Olympics apparel partnership has long offered unparalleled brand visibility and prestige. But the unusual circumstances of this year’s games will bring changes that will last beyond Tokyo.

Robert Williams is Luxury Editor at the Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

• Anna Wintour
• Olivier Massart
• Lucien Pagès

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

Hermès Takes on Rolex, Chanel With Sports Watch Aimed at Women

Watch revenues at the French leather goods powerhouse have surged since the launch of its H08 sports range in 2021. Now Hermès is hoping to keep up the momentum with a mechanical sports watch aimed at women called Cut.

Armani-Owned Company Put in Receivership Amid Labour Exploitation Probe

A court in Milan ordered a one-year receivership for Giorgio Armani Operations, described as an industrial company of the Armani Group, according to the ruling seen by Reuters.

How Matches’ Collapse Could Impact Independent Fashion

The luxury retailer’s closure has far-reaching knock-on effects for independent brands. Unpaid bills for inventory have pushed some labels into dire financial straits, while confidence in other stockists like Farfetch-backed Browns has sunk to a nadir.

Is Chanel’s ‘Absolute Luxury’ Push Working?

With prices and quality for its flagship handbags under scrutiny, can the French couture giant reclaim the narrative? "We're not perfect," fashion president Bruno Pavlovsky said. "We're aware that our positioning obligates us to always do better, and we try to always do better."

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Jessica alba exits role at the honest company “to shift her creative energy to new endeavors”, breaking news.

Endeavor Going Private In Deal Valued At $13 Billion

By Dade Hayes

Business Editor

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Endeavor Group Holdings, parent of talent agency WME and controlling shareholder in combat sports powerhouse TKO Group, is going private.

Private equity firm Silver Lake Capital is leading the privatization, which the company describes Tuesday as the largest in media and entertainment history and the biggest in any sector over the past decade. The equity value of the acquisition is pegged at $13 billion, with the enterprise value nearly double that when the TKO interest is taken into account.

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The move ends a mixed three-year run for Endeavor as a public company. Announced with great anticipation prior to Covid, the effort to take the company public was pulled at the eleventh hour in 2019 before finally coming to pass in the spring of 2021. Shares in the company never broke out to become the value generator executives had sought, though going public did personally enrich CEO Ari Emanuel , executive chairman Patrick Whitesell and other top executives.

Rumors that the company was likely headed for a privatization had been circulating in recent months, especially after TKO’s public stock debut last fall.

Under the go-private deal, Silver Lake will acquire 100% of the outstanding shares it does not currently own. The company said the arrangement also includes participation from United Arab Emirates sovereign wealth fund Mubadala; Michael Dell’s DFO Management; private equity firm Lexington Partners; and funds managed by Goldman Sachs. Other Wall Street firms are assuming an unspecified amount of debt, and equity controlled by Emanuel, Whitesell, president/COO Mark Shapiro and other execs is also being used to fund the transaction.

Emanuel in a press release said Silver Lake’s backing since 2012 has been “central to our evolution.” He said the privatization will “maximize value for all of Endeavor’s public shareholders,” adding that management is “excited to continue to unlock and invest in the growth opportunities ahead as a private company.”

TKO Group Holdings, the press release noted, is “not party to” the privatization and is expected to remain publicly traded. Shares in Endeavor rose 2% on the news, while TKO gained 5%.

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BREAKING NEWS

Thursday is a Weather Authority Alert Day: Damaging wind gusts and strong to severe thunderstorms

2 warnings and 2 advisories in effect for 21 regions in the area, as many cities sour on hosting the olympics, salt lake city's enthusiasm endures.

Hannah Schoenbaum

Associated Press

Copyright 2024 The Associated Press. All rights reserved

The scoreboard at the University of Utah's Rice-Eccles Stadium promotes Salt Lake City's bid to host another Winter Olympics in 2034 as International Olympic Committee members prepare to tour the stadium and other venues Wednesday, April 10, 2024, in Salt Lake City. (AP Photo/Rick Bowmer)

SALT LAKE CITY – The International Olympic Committee was effusive in its support Wednesday for a decadeslong effort to bring back the Winter Games to Utah's capital city in 2034.

Unlike so many other past hosts that have decided bringing back the Games isn’t worth the time, money or hassle, Salt Lake City remains one of the few places where Olympic fever still burns strong. Olympic officials praised the city for preserving facilities and public enthusiasm as they kicked off their final visit ahead of a formal announcement expected this July.

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Reminders of the 2002 Winter Games are nestled throughout the city, from a towering cauldron overlooking the valley to an Olympic emblem stamped on manhole covers downtown. Leaving the airport, a can't-miss arch amid snow-capped mountains shows visitors they're entering an Olympic city .

Those remnants are part of a long-term strategy Utah leaders launched on the heels of their first Olympics to remind residents that the Games are part of the fabric of their city, and that being a host city is a point of pride.

Olympic officials said they were greeted with such excitement Wednesday that it felt like the 2002 Winter Games never ended.

In the decades since Salt Lake City first opened its nearby slopes to the world’s top winter athletes, the pool of potential hosts has shrunk dramatically. The sporting spectacular is a notorious money pit, and climate change has curtailed the number of sites capable of hosting.

Even though Salt Lake City got caught in a bribery scandal that nearly derailed the 2002 Winter Olympics, it has worked its way back into the good graces of an Olympic committee increasingly reliant on passionate communities as its options dwindle. The city is now a prime candidate if officials eventually form a permanent rotation of host cities , Olympic Games Executive Director Christophe Dubi told reporters.

“We are in an environment here where we look for opportunities more than concerns,” Dubi said. “For the next 10 years, we're not so much looking at what is challenging, but what are the opportunities to work together.”

The committee was left with only two bid cities for 2022 — Beijing, China, and Almaty, Kazakhstan — after financial, political and public concerns led several European contenders to drop out.

“The International Olympic Committee needs Salt Lake City a lot more than Salt Lake City needs the International Olympic Committee, or the Olympics,” said Jules Boykoff, a sports and politics professor at Pacific University.

For Utah Gov. Spencer Cox, securing the bid is central to his goal of cementing the state as North America's winter sports capital.

Cox has continued a long-running push by state leaders to beckon professional sports leagues and welcome international events like last year's NBA All-Star Game that could help burnish its image as a sports and tourism mecca, while chipping away at a lingering stigma that Utah is a bizarre, hyper-religious place.

About half of the state's 3.4 million residents and the majority of state leaders belong to The Church of Jesus Christ of Latter-day Saints, widely known as the Mormon church.

Dave Lunt, a historian at Southern Utah University who teaches about the Olympics, said the Games give members of that faith, and other residents, a chance to clear up misconceptions and share their values with the world.

“Latter-day Saints really just want to be liked. No disrespect or anything, that’s my community, but there's this history of, we want to show that we fit in, we’re good Americans," he said. "We’re happy to host the party at our house.”

The 2002 Games, widely regarded as one of the most successful Olympics, brought government funding for a light-rail system and world-class athletic facilities. The city grew rapidly in its wake.

Utah bid leaders declined to release a budget estimate, saying they should be able to provide one next month. But they assured the committee that they could keep costs down by using most of the same venues they’ve spent millions to maintain since 2002. They also touted bipartisan support for hosting in the Democratic capital city of a predominantly Republican state.

With few options remaining for the Olympic committee, Salt Lake City has leverage to dictate terms, Boykoff said. Those can include funds, deadlines and even which sports are included.

And with NBC’s multibillion-dollar broadcasting contract with the Olympic committee set to expire in 2032 — two years before Utah would host — the committee has a vested interest in selecting a U.S. city in a better time zone for live broadcasts to entice U.S.-based broadcasting giants.

Unlike many cities, Salt Lake City residents did not get to vote on whether they wanted another Games, even as leaders say their polling shows more than 80% approval statewide.

Olympic historians say the hype can distract residents from downsides for other hosts, such as gentrification, corruption, rising taxes or empty promises of environmental improvements.

So far, no opposition has formed in Utah.

"If we consider the Olympics a cultural institution," Lunt said, "maybe it's worth paying some money if the people of Utah decide that's important to us, collectively.”

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