If you are an entrepreneur or an aspiring entrepreneur that has a passion for basketball, you can actually become a millionaire by starting a basketball related business. There are several multinational organizations in the sports industry who are concentrated in basketball related businesses and there is still room large enough to accommodate new entrants into this line of business.
Why Start a Basketball Related Business?
There are several basketball related business opportunities; if you are determined to make money from this industry all you need to do is to choose a niche in the industry, and then build your business along the niche or area of specialization. You have the option of choosing from basketball promotion and advertisement to owning a basketball club. The bottom line is that you can make money from rendering basketball related services.
Basketball is a sport that is loved not just in the United States of America alone, but all over the world. The fact that it is one of the major Olympic Games makes it a popular global sport. Great basketball icons like Michael Jordan and Magic Johnson are widely celebrated all around the world and loads of people strive to be like them.
50 Best Basketball Related Business ideas for 2018
- Open A Basketball One Stop Shop
One basketball related business that an entrepreneur can start in any part of the world is a basketball one stop shop. This is a place where people can purchase all their basketball wares, i.e. basketballs, jerseys, shoes, hand bands, headbands, basketball videos, souvenirs, and all what not. Just ensure that you choose a good location for your basketball sport shop and you won’t struggle to make daily sales.
If you are a trained journalist, one of the basketball related businesses that you can decide to start is a basketball magazine or newspaper. The percentage of people who read basketball news are more especially in the United States and they are enough to help your business breakeven no matter the part of the world you are located in.
- Become a Basketball Scout
One of the coolest ways of making money from basketball without being a basketball player is to become a talent scout for basketball clubs in the United States or even in your country. The truth is that basketball business is a money spinning business in the United States and if you are able to discover world class basketball talents for a club, you are likely going to become an instant millionaire especially if one of the top basketball clubs in the United States such as Chicago Bulls, LA Lakers, and Utah Jazz et al signs the player that you discovered.
- Start a Basketball Television Station
If you are a big-time investor and you know your way around government bureaucracy in your country, you can successfully secure a TV license and start your own sports television with a niche covering in basketball. It requires huge startup capital and good business strategy to run this type of business but the fact remains that it is a profitable venture.
Another broadcasting related business that you consider starting is a sports radio station with strong bias in basketball; a station that is dedicated to everything basketball on a 24/7 basis. Although it is capital intensive to run a 24 hour-a-week basketball radio station, but you are sure going to reap huge benefits from the business.
- Basketball Museum
Starting a museum dedicated to basketball is yet another interesting basketball related business that an aspiring entrepreneur can start. This business concept might be very green, but you can be rest assured to have loads of visitors traveling from far and wide to visit your museum if you have robust basketball artifacts or if you are able to gather stuffs that portray the history of basketball. So, if you are looking for a basketball related business to start, then one of your best bet is to look towards launching a basketball museum.
- Basketball Betting Company
People all over the world are into sport betting and the industry of course is growing in leaps and bounds. You can decide to start a betting company that focuses on NBA games. The truth is that basketball betting is one basketball related business that can thrive in any part of the world especially if your betting is also done online.
With that you will be able to attract customers from all over the world irrespective of where your basketball betting company is located. One key factor that will help you to succeed in this business is to pay winners as at when due.
- Start a Basketball Jersey Customizing Business
Top basketball clubs in the United States and even in Europe have a fan base that cuts across people from all over the world. If you are lucky to live in a city that has robust basketball followership, one of the small-scale basketball related businesses that you can start is a basketball jersey customizing business. Part of what you need to get this type of business rolling is a good graphic skill and a business network that can help you access quality jerseys at affordable prices.
- Start a Basketball Academy
Another basketball related business idea that you can start is opening a basketball academy; a place where young people can be groomed to become professional basketball players. The truth is that if your basketball academy is well recognized, you are likely going to attract students from all parts of the world. Please note that you would need a license before you can be allowed to legally operate a basketball academy in the US.
- Organize Basketball Competitions Amongst Schools
Organizing basket competitions amongst High Schools or Colleges within your region or state is yet another interesting basketball related business that an entrepreneur with good organizing skills can do. All you need to do is to sell your idea to the management of high schools and colleges within your target area and of course, you would also need to sell the idea to corporate organizations who are likely going to sponsor such competition. The truth is that if you hardworking, you are likely going to get mouthwatering sponsorship deals.
- Basketball Film and Documentary Production Company
If you are a film producer or someone who knows a lot about basketball, then you can make good money from basketball. All you need to do is to specialize in producing basketball related films and documentary. The truth is that if you are good at what you do and you are able to successfully produce a best-selling basketball film or documentary, then it won’t be too long before you become a star as well. Please note that this type of business is pretty much green and it is open for professional film producers with keen interest in basketball.
If you are a programmer and you are a basketball lover, one of the basketball related business ideas that you can successfully start is to go into the production of basketball related video or computer games. It is a cool way of making cash if you know how to push your product in the market place. It will be easier to push your product into the market if your game is unique.
- Basketballs Manufacturing
Another money spinning basketball related business that an aspiring entrepreneur can choose from is basketball manufacturing. You don’t have to be a major player before you make money from manufacturing basketballs. You can start by manufacturing basketballs for children. It is a way to encourage children to start playing the game in their neighborhood. If you are consistent, some day in the future you can win a contract to produce basketballs for FIBA™ just like Nike, Puma and Adidas.
- Production of Basketball Cartoons
Production of basketball cartoons is yet another basketball related business ideas that a graphic artist/animation expert can successfully start. The truth is that if you produce a cartoon movie that has a top basketball player such as Michael Jordan, Magic Johnson or Hakeem Olajuwon et al as characters, then you are likely not going to struggle to get people to accept and purchase it. Children love cartoons and producing basketball cartoon will get kids to fall in love with the sport.
Another interesting basketball related business that an aspiring entrepreneur can consider starting is organizing basketball reality show. If you are an event organizer and also a basketball enthusiast, then you can consider starting your own basketball reality show. If the program is well organized and you are able to secure good sponsorship, then the reality show will likely become an annual show if you want it to be so. You are sure going to make good money from this business venture if the reality show is well packaged.