Does a business in the sports industry have a future?
At Sportmadness we think the answer to this question is obvious, and that is that of course, it does! A business in the sports industry has a future.
With the growing popularity of sports, it is a great time to enter this industry. In this article, we are going to show you with real facts and figures why we are right.
We don't say so, the statistics say so 😉
Where is business going in the sports industry?
Sports businesses are profitable. In fact, the sports universe is one of the largest industries in the world, creating employment opportunities for thousands of people across the globe and whose numbers are growing every year (in 2021 this industry grew by 14% compared to 2020).
There is a lot of room for business in the sports industry, and many types of businesses cater to the needs of athletes. Organizing sports events is a good option if you would like to offer different sports or run a sports academy.
If we consider some of the trends that will shape the future of the sports industry we can see how businesses in this sector are becoming more and more diverse.
Providers of home-based fitness products and services also have a long way to go. Incorporating what is known as 'exergaming', a modality that combines the recreational aspects of video games with real sports practice, with multi-user games in real time that motivate the player to do physical exercise by interacting with other people who compete simultaneously from any location.
Other examples would be gamification, inclusive sports, or new e-sports profiles as new business opportunities.
On the other hand, the application of new digital technologies allows the development of products and services that enhance the performance of athletes.
Finally, we find niche opportunities with the increasing demand for sustainable materials for sports practice or the rise of active tourism.
Global sports data
According to the latest report by Ipsos Global Advisor on people's attitudes towards sports, we can see that, globally, the majority (58%) would like to practice more sports, but say they lack the time to do so (37%).
On average, people report spending 6.1 hours a week (almost an hour every day) doing physical exercise or team sports. As we can see, people are more than willing to engage in sports in their daily lives.
The five most popular team sports and activities in the 29 markets in a typical week are fitness (20%), running (19%), cycling (13%), football (10%) and swimming (9%).
From these data, we can clearly see how people are willing and want to do more sports in their daily lives.
More and more people realize the importance of doing sport to improve their fitness and health. Moreover, it helps people to feel more productive, reduce stress levels, and improve mental health.
Therefore, we can confirm that yes, a business in the sports industry has a secure future.
At Sportmadness we know the success of a sports business.
We know that the success of a sports business is based on experience, knowledge and dedication. We know what makes a successful sports business and have experience in running events and sports academies, we have seen our franchisees double their turnover from one year to the next.
We work with all our franchisees to help them increase their turnover and make the most of their projects.
That's why more than 60 entrepreneurs have already joined the Sportmadness Community, and we have more than 50 franchises in different countries.
If you want to know more and explore some business ideas related to sports click here.
Sources and graphics:
CMDsport
Ipsos Global Advisor
