(309). Start a Sports Academy
Sports academies are schools that specialize in instruction and training for sports and athletic challenges. These companies generate revenue by charging tuition in the form of a per-lesson fee, package fees, or similar charges in exchange for services rendered over a period of time. As sports have gotten more and more competitive at a national level, sports academies have thrived by providing expert advice and direct training in key areas.
Answer the following key questions:
• How much will you charge for your services?
• What types of training will you offer?
• Where will your academy be located and who will be your primary competitors?
• How large of a facility will you operate and how much money will you require to get started?
• When do you hope to officially get started?
THESE days we find the term “sports academy” used very liberally- and not very wrongfully too. After all, dictionary says that an academy is a school for special training or advancement of skills or knowledge. But, somehow the word “academy” sounds too sacrosanct to be used for any coaching centre whose primary purpose is to generate revenues through the enrollment fees from students. An academy is supposed to develop the best of “raw” talents by providing the best of coaching facilities (the emphasis on the word “raw” is to differentiate an academy from a finishing school). Now, a coaching centre may argue that if it is providing the best of facilities doesn’t it qualify as an academy – the answer is NO. That is because the level of investment, the skill-set required, the operational requirements & the overall business plan of the above two models differ considerably. The principles remain the same for any sport, but since Football is the most discussed sport in India when it comes to coaching or lack of it, I’ll use football to elaborate my point.
Just like any “retail-outlet” the core of the business of a coaching centre is the number of foot-falls & average revenue per foot-fall. In coaching terms this will translate to number of batches, number of students per batch & the fees per student. There is obviously a cap on the capacity if you have to maintain a minimum standard of coaching. Now any coaching centre has to strike a balance between quality & marketability to become successful, or even viable. You can’t expect to employ top coaches, have top equipment & facilities and still expect to charge“competitive” fees from students. Moreover, the name of a big coach or a big club itself is not enough to attract the requisite number of students – you need to have an advertising budget, an aggressive sales team and most importantly an excellent location
The second aspect of an academy is obviously the development of players – technical development, physical development & mental development. Other than the game skills, fitness regime & diet are integral to a player’s development. Development of young kids is no easy task and you need excellent systems & processes and also coaches with relevant experience in place.