How International Entrepreneurs Can Profit From The Sport Market in India

May 3, 2022 | Lifestyle

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Despite a pandemic-related drop of 34% in 2020, the Indian Sports Industry is a huge and profitable sector driving high revenues to India. Revenues from celebrity endorsement, sponsorship, and media spending on properties are estimated at around ₹9,000 crores, excluding pandemic years. For international entrepreneurs, it’s a unique opportunity. 

At the end of the pandemic lockdown, the sports market is ready to grow again. The sports industry has already shown its ability to recover from the COVID-19 drop by driving sponsorship and innovation. It is a unique opportunity for entrepreneurs to jump into an active and exciting sector. What are the most profitable business ideas for new entrepreneurs in the sports sector in India?

1. Launch a sport equipment and apparel business

According to ResearchandMarket.com, the sport equipment and apparel sector is expected to grow, reaching revenues of over $40 billion by 2027. Market drivers include the sudden increase in fitness awareness driven by the pandemic health concerns, the exponential growth in the online retail sector, and the significant trend in protective equipment to reduce injury risks. 

From the perspective of a brand new business, it would make sense to approach the market with new apparel and equipment solutions that can target some of the growing needs while ticking crucial trends:

  • Sustainability
  • Low cost, high value
  • Augmented reality or other interactive technology

Keeping costs low as a newcomer to the market may be tricky. Yet, now is the best time to use an online marketing campaign for crowdfunding to an online audience about dynamic and sustainable sports apparel for the Indian market.

2. Appeal to sport fans with custom NFT

Fan and follower groups have grown during the pandemic, as more and more people have been looking at ways to stay fit, active, and motivated. As a result, many fans followed their favorite athletes on social media or in the news. Fans can feel they have a unique connection with athletes after the pandemic, as they’ve been able to access behind-the-scenes stories and photos. So, for creative entrepreneurs, it is the perfect opportunity to launch NFT sport-inspired themes and digital art. UFC enthusiasts who keep updated with the latest news https://sportnews.in/Boxing-and-UFC, for instance, would love NFT art of recent boxing matches. NFT is a current investment trend with huge profit potential. For designers and creators, sports NFTs can be the way to create an independent creative venture. 

3. Considering a digital sports business

What does digital sport mean? Essentially, going back to the pandemic period, maintaining a digital presence was the number one priority for businesses to survive. But as the trend to work from home is here to stay, customers prefer to access traditional services online. 

Online classes for accessible activities, such as yoga, flexibility courses, or even basic bodyweight workouts, can become a new training venture for certified coaches. 

Coaches can set up paid membership programs so they can provide classes, one-to-one support, and custom training plans. As India is a popular yoga and meditation retreat, it can save considerable costs in terms of location and venue hire, allowing solo entrepreneurs to work from the comfort of their homes. 

The sports market is growing, bringing new and exciting opportunities for international entrepreneurs. Whether you choose a solo training venture or a small online retail model, sport is about to become one of the most profitable sectors for small businesses.

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