What you need to know when your are starting your own sports facility business.
Most of us don’t go into sports academy ownership with dreams of making millions – our main goal is to help kids. However, most sports academies are still set up as for-profits for legal business and tax purposes. That’s because choosing between operating as a nonprofit or for-profit is actually more of an accounting question […]
If you have a passion for coaching basketball and want to build a business around that passion, I have some good news: you can get started more easily than many other aspiring sports academy owners. That’s because you don’t need to own your space; you can easily run your basketball academy from local courts. That eliminates the huge and year-round worries […]
Cash flow problems are almost always at fault when sports facilities fail.
Unfortunately, most sports facility owners and managers don’t know that they’re putting their cash flow at risk by relying on too few sources for most of their income.
Here are some common options that many sports facilities have used to diversify successfully.
How Much Does it Cost to Open a Baseball and Softball Businesses? A lot of visitors come to this site looking for info on how to open a new baseball or softball facility. I think batting cage facilities have a special appeal to aspiring entrepreneurs because: there’s usually a big demand for them in our communities they seem more FUN to invest in than your […]
Once you have an idea of what you’ll pay upfront for your new sports facility’s site and equipment, the last piece of the puzzle to finding your total upfront investment is your “operating cash.” That’s the money you need for the day-to-day expenses that keep your doors open and your business running smoothly. Calculating your operating cash isn’t as exciting […]
If finding and paying for a great location is the biggest issue facing new sports facility owners, the next biggest hurdle is finding and paying for the equipment for that facility.
To figure out what you really need and how you should pay for it, start by reviewing your business plan.