Implementing the right sports business ideas can make you a millionaire. The sports business is big business. The prospects are encouraging, with a high-income yield and low capital needed.
There are many 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 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 has built stadia, you will always see sports enthusiasts — a lot of them— taking part in various 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 outfits and wears, gear and supplies and even merchandise and souvenirs. It is a highly lucrative sports business idea and is not very expensive. You can have access to some local sporting teams and add value to the lives of aspiring athletes.
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Sports Radio Station
Have you considered how lucrative a 24/7 sports radio can be? Very, very lucrative. Firstly, there are not enough radio stations 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, 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, you can start small. Through ad placement, you will earn cold cash.
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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 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 start an affiliate sales agency with some of the already established sports betting companies. 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.
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Sports Viewing Center or Sports Bar
Are you looking for a budget-friendly sports business idea in Nigeria? Why not a sports bar or sports viewing center? You will never run out of patronage. Football fans will gladly pay to watch their favorite EPL team on a Saturday afternoon. If the business is organized and hospitable, fans will flock in every time. The money you will make from this business will make you smile at the bank. You do not need too much to start up, just a couple of plasma TVs, a decoder, tables and chairs and a generator. The more attractive and comfortable the place is, the likelihood of beating your competitors and acquiring new customers daily.
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Shirt Merchandise & Customization for top football clubs
Chelsea has as many as 12 million fans in Nigeria alone. That is two times the population of Costa Rica. So how do you optimize or monetize this passion for football that has seeped through the soul of Nigerians? Shirt Merchandise and customization are one.
There is usually a high demand for club jerseys in urban areas during the football season. Fans are also eager to patronize quality ones and pay for customization.
Start Community Football Academy
Football is, without a doubt, a large worldwide sport and among the most popular sports on the planet. It is not just a big sport but also a moneymaker. Starting your local football academy in your neighborhood is among the ways you may generate money from football.
If your football academy is of high quality, with kids enrolling not only to learn to play football but also to study the traditional school curriculum of the country in which it is located, you will draw students from all over the world.
Production and Sale of Sports Toys
The manufacturing and sales of sports toys are yet another lucrative sports-related business that an entrepreneur should start. Simply make toys that resemble popular sports figures, such as David Beckham, Pele, Diego Maradona, Christiano Ronaldo, Lionel Messi, Michael Jordan, Shaquille O’Neil, Usain Bolt, Serena Williams, Andrea Agassi, Tiger Woods, and others, and you will have no trouble selling them. You can make key holders in addition to marketing toys to children, and adults will undoubtedly buy and utilize them.
Begin a Basketball Club for Children.
Basketball is a great sport that appeals to both adults and children. You can launch a project or a club to identify potential basketball players at a young age. Another successful business idea for an entrepreneur is to launch a basketball kids club.
Just make sure to plan basketball outings to educate kids about the fundamentals of the game. You can approach schools and parents and ask them to sign up their children for your basketball kids club. Before running this form of business, you must first register and receive a license.
Start a Karate Club in Your Neighborhood
Karate is one of the extracurricular activities students participate in, particularly in primary and senior schools (secondary schools). You can launch a community-based karate club for parents to send their kids to after school. You can also approach the administration of local schools to assist them in starting and managing a karate club.
Basketball Court Construction and Maintenance
If you’re a civil engineer, you might want to try focusing on basketball court construction and maintenance. People want to create their own basketball courts but aren’t sure how to start.
So all you have to do now is register your business and implement a solid marketing strategy. Without a doubt, some basketball fans would decide to build their private basketball arena on their property if they know it won’t affect them financially.