#7 Tips To Run A Sports Franchise The tycoons of various industries are now into the business of owning sports teams and running them
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In the recent times, we have seen many non-cricketing sports leagues likes Pro Kabaddi League (Kabaddi), Indian Super League (Football) and Premier Badminton League (Badminton) getting limelight and popularity. Due to this, the sports franchise trend is on a rise. The tycoons of various industries are now into the business of owning sports teams and running them. With that said, it is easy for a person to own a team, but to run one for a league is an entirely huge task.
According to me below are the 7 most important tips which are essential to successfully run a sports franchise:
- Stylebook of the Franchise
Stylebook is the foundation of a franchise which includes the vision, mission, code of conduct, ideology and ethics of a franchise. Behind the inception of every franchise is a vision which is like the "North Star' that gives direction. All the efforts taken by the team and management should be in tandem with the vision and ideology of the franchise. It is important that players and the team management follow the code of conduct on and off the ground.
- Prioritise the Needs of a Team
The welfare of the team should be of utmost priority for any franchise. The success of a franchise depends on the players and their performance. The fame and recognition a franchise earns is only because of its players. It is important to take care of the needs of the players who, leave behind their families for months and dedicate all their time and energy for the sport. Once the players feel at home, rest assured they will put their heart and soul to win the title. Winning and losing is a part and parcel of sports, but while the team's morale is down after losing a match, the management should motivate the players and team to perform better the next time.
- Invest in Infrastructure
The training facilities for the team should be top class with all sporting amenities. Investing in good training infrastructure is of utmost importance for a team to outperform.Also, there should be provision for recreational sports and activities for players to bond during leisure time.
- Have a Strong Backend Support
The backend team plays a huge role in the success of a franchise. Having a strong support staff like fitness trainers, masseurs, doctors and physiosis beneficial, as their aid to the players during match determines the result of the match. Appointing a strong analytical team is also important. Their analysis of the team's performance not only helps in identifying the weakness of the team& players, but also helps in understanding the strategy of other teams and devising one's own strategy accordingly.
- Having Sponsors on Board
Having reputed sponsors on board is important for running a franchise. Sponsors not only help financially but also become goodwill ambassadors for your franchise wherein they help in reaching out to newer audience. Having national and international brands on board will help in building reputation and credibility for a franchise.
- Position your Franchise Smartly
Positioning your franchise in the right way can have multiple benefits. There will be sponsors who might be sceptical to associate with a franchise, but marketing it correctly and setting the deliverables up front can go a long way. For the players, theirs fans mean the world to them. But unless the team's efforts and success stories don't reach the audience, a team won't have a strong fan base. This popularity amongst the fans also helps in merchandise sales and ticket sales. Positioning team through proper channels and digital platforms increases the visibility of the team and also helps to increase word of mouth marketing for a team.
- Build Good Relations
