Implementing the right sports business ideas can make you a millionaire in no time. The sports business is big business. The prospects are encouraging, with high-income yield and low capital needed.
There are lots of opportunities for those looking to invest in the sports business. In addition to that, you don’t even have to be an active sportsman or sportswoman to make money with a sports business idea. In Nigeria, everyone has a love for sports. Men, women, boys, girls — interest in sports cut across all age groups and gender in Nigeria.
One of the biggest advantages of sports business ideas is that there is always room to start small, as it does not require huge capital (compared to other business ideas). With dedication, hard work and effective financial management, you will be on your way to earning your first million Naira.
So without further ado, here are the top Sports Business Ideas in Nigeria that you can pick from if you want to become exceedingly rich by becoming a sports business entrepreneur.
Best Sports Business Ideas in Nigeria
Sports Retail Store or Shop
Are you living in Sokoto, Ikeja or Ilesa? Regardless of your place of residence, there are always sporting activities carried out in the area. You will always witness some sporting events in the city. In urban areas where the government have built stadia, you will always see sports enthusiasts — a lot of them— taking part in a variety of sporting events. So, opening a sports retail store in your area of residence will mean getting patronage especially, if you locate it around where sports lovers congregate. You can begin the sale of sports outfit and wears, gears and supplies and even merchandise and souvenirs. It is a highly lucrative sports business idea and is not very expensive to start up. You can have access to some local sporting team and add value to the lives of aspiring athletes.
Sports Radio Station
Have you considered how lucrative a 24/7 sports radio can be? Very, very lucrative. Firstly, there not enough radio station solely dedicated to sports in Nigeria. Apart from Brillia FM, there is no other sports radio in Nigeria. Viewers would flock to something new, bolder and innovative.
A sports radio is solely focused on sports. In a country like Nigeria, where everyone is a fan of some football club. The audience appeal is broad. You can also hold a debate between caller and broadcasters about sporting events. Live commentary of football matches can also drive traffic and viewers to your radio network. Though it may seem capital intensive, but you can start small. Through ad placement, you will earn cold cash.
Sports Betting company or their Agent
An indisputable fact is that more than 50 million Nigerians are actively involved in serious sports betting and staking. According to recent research reports, Nigerians collectively stake as much as 6 million dollars on a good day. This shows that the sports betting industry in Nigeria is worth as much as 4 billion dollars. Bet9ja makes as much as 400 million Naira every month. Others are tremendously reaping huge profits.
So you can start your own sports betting firm which can be quite expensive or starting an affiliate sales agency with some of the already established sports betting company. This choice is yours. The fact remains that sports fans are always eager to visit a betting shop to place their bet. This sports business idea is worth considering.
Sports Viewing Center or Sports Bar
Looking for a budget-friendly sports business idea in Nigeria? Why not a sports bar or sports viewing centre? You will never run out of patronage. Football fans will gladly pay to watch their favourite EPL team on a Saturday afternoon. If the business is organised and hospitable, fans will flock in every time. The money you will make from this business will make you smile to the bank. You do not need too much to start up, just a couple of plasma TVs, a decoder, tables and chair and a generator. The more attractive and comfortable the place is the likelihood of beating your competitors and acquiring new customers daily.
Shirt Merchandise & Customization for top football clubs
Chelsea has as much as 12 million fans in Nigeria alone. That is two times the population of Costa Rica. So how do you optimise or monetise this passion for football that has seeped through the soul of Nigerians? Shirt Merchandise and customisation is one.
In urban areas, there is usually a high demand for club jersey during the football season. Fans are also eager to patronise quality ones and pay for customisation.