Cities or metropolitan areas that are homes to sports franchises often see many positive results. Revenue figures rise, new businesses related to the sports franchise locate or re-locate to the area, and the population numbers increase as people move closer to the area to take advantage of the sports franchise.Starting a sports franchise does involve having a substantial amount of readily-available funds; however, a return on the investment is often seen within a very short time.
Determine at the very beginning what would most likely work, what might work, and what would most likely not work. Take into consideration such things as the climate during the main season in which the sport would be played, the location of arenas or venues, and, of course, the part of the country in which you are located.
Decide which sports franchise you would like to purchase, and check for availability. (See Tips for more information)
Do as much as you can to prepare for the franchise before the actual purchase. This may include:advertising or otherwise making known your intention to purchase and locate a sports franchise in your area, and holding public meetings, forums, or other necessary gatherings to present information, hear opinions and concerns, and other things of a similar nature.obtaining permission, business licenses and permits, and other documentation from local governments who will or could possibly be affected.assuring that an arena or venue is or will be available and ready for immediate occupation and operation once the franchise is purchased and the season is ready to begin.
Determine the exact amount of “liquid capital” (see Things You Need section) that you will need, and make sure it will be available when you are definitely ready to pay.
Make necessary financial arrangements to ensure that funds will be available at the initial inception and during the first few months after the franchise purchase.
Purchase the franchise you have chosen by paying the “liquid capital” and prepare to start business.