Once you decide to buy a sports business, you will have many decisions such as what location you prefer, whether to purchase an independent business or an established franchise and how much capital you can spare. It is important to investigate how much competition your business will face locally, because you won't want to be too close to a major competitor.

Individuals who are looking to sell a sports business can find help online. There are websites dedicated to assisting business owners with finding buyers for their company.

You will need to set aside a lot of time and money when you decide to purchase a sports business. It is essential to be certain that you have found the right business opportunity for you. There are several factors to consider before you make the investment, including:

1. The expenses you will incur, such as purchasing fees, marketing costs, royalties and inventory;

2. Whether the business require you to hire and train a large number of employees;

3. If the sports business for sale has a name that is recognized locally;

4. Whether you will make a direct purchase or utilize the services of a sports business broker.

Action Steps
The best contacts and resources to help you get it done

Work with franchisors that provide sports business sales

Purchasing a franchise offers entrepreneurs a variety of benefits over starting up a new sports related business. An established chain already has a name and brand that is well-known, a proven business plan and ongoing support from the franchisor.

I recommend: Look into sports-related franchises such as Nevada Bobs, i9 Sports, Play It Again Sports and LA Boxing.

Purchase a sports business that is independently owned

There are websites you can use to find retail businesses for sale in every state. Search through them to discover the type of business you are interested in owning anywhere throughout the U.S

I recommend: See examples of business for sale on BizQuest and VR Business Brokers.

Talk to a lawyer before investing in a sports business for sale

Before purchasing any business or franchise it is always beneficial to hire a business lawyer who can help you with the deal. The lawyer will go over all the details of any contract you must sign with the seller, let you know what your rights and explain all of your legal obligations.

I recommend: Receive franchise law help from Stephen A. Katz, P.C. and business law advice from Fuerst Humphrey Ittleman.

Sell a sports business

People who own a sports business may decide to sell for a variety of reasons. Whether they are ready to retire, moving to another state or starting up a different business, they can search for a buyer for their company online. There are websites that small business owners can use that work as a sports business brokerage and help to connect buyers with sellers so they can complete a transaction.

I recommend: List your sports related business on Business Nation or BizQuest.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Check with the Better Business Bureau for detailed information about the sports business for sale you are interested in purchasing.
• •  Find out if sports-related franchises are regulated by your state or local government, and if they are, in what ways?
• •  Hire a certified public accountant to investigate the financial history of any sporting business you are looking into buying, explain the expenses that are involved and help you calculate your long term earning potential.
• •  Talk to a business broker if you are in need of assistance for your purchase.