Ok so I have this homework assignment for my sport finance class where I have to write a paper about a proposed business idea and then go into details regarding funding, staffing, client base etc etc. I can easily handle all those aspects and write a paper, but I'm stuck at the idea stage. Good entrepreneurial ideas are ones that radically change the market or meet a serious market need. Unfortunately I just can't think of what this market needs right now. I know that teams would love to entice fans to come to the game instead of watching it at home on TV, but I can't think of a way to solve that problem. So here is where I reach out to you guys. Have you ever been to a game (or watching one) and thought, "Man I really wish this existed". It doesn't have to be game related. It could be tailgating, merchandise. Anything you can think of that would make your life as a fan better. Thanks for any help in advance.
Help with a homework assignment-What product or service does the sport indust... Season ticket packages that are like Country Club memberships, complete with varying levels of membership. A social membership includes parking, tickets, a limited amount of credit for food vendors, and 2 passes to a meet and greet with personnel from the team. Junior membership includes a larger credit for food and adds a merchandise credit, and includes a limited number of passes to 3 meet and greets Full membership includes all of the above and meet and greets with team personnel at any event. Hope this helps!
If I tell you, then you will take my idea, make a couple of millions off of it, and all I'll have is this stupid post. How about this, the NFL embraces reality that ticket prices are keeping lower income fans from attending games, they either: -stay home and watch it on TV -go to a local favorite bar What if, as a middle step, teams opened their own branded sports bars replete with all time players attending and ticket giveaways and jerseys etc etc Sort of making a mini stadium experience that is more affordable, they could do stuff like put stadium grass around the Big Screen etc etc.
Here's one for you: The NFL (and all sports) has a problem of increasing amounts of viewers who prefer to watch a game in the comfort of their house because of PSL's/prices, the ability to see the game from different angles on TV and on line, and other technology and comfort thats available at home but not at games. How can sports leagues go about solving these issues? Just an idea....
Don't try and revive shrinking revenue streams, come up with new ones. Find new places to advertise that won't be obtrusive. Maybe try monetizing video content such as coach's and assistant's press conferences. Maybe have a $10 annual subscription for access to all web videos.
That's the exact thing I'm trying to tackle. The issue is that my solution is very similar to what the fanvision is supposed to offer. Padre and Laces had good ideas, but for the sake of my homework they'd be hard to tackle as a private firm.
I think my issue is that I'm trying to think too much like an entrepreneur (how could that be a bad thing right?). As a result I'm trying too hard to look for the homerun, industry changing product/service. Let's face it, if I came up with that I wouldn't be in school right now. This assignment is really more to focus on the finance side then the idea creatioon side. So I think I'm going to go with a tailgate catering company. Not ground breaking but it is an easy thing to conceptualize. Thanks for the help guys, you had some great ideas. And there are definitely some things that need to be fixed in this industry.
