Despite the sustained impact of economic tumult in the UK, the nation’s sporting industry has continued to achieve impressive growth. Now supporting more than 450,000 jobs and worth in excess of £20 billion, it’s an increasingly influential growth engine in a strained economic climate.
With this in mind, it’s easy to see why launching an independent sports agency is such a viable option for aspiring entrepreneurs.
While the industry may be growing an increasingly lucrative, however, it’s also extremely challenging and competitive (particularly for newcomers). Here are three tips to help you launch a successful and commercially viable sports agency in the UK:
- Get your Branding Right
Let’s start with the basics; as no business in any competitive industry can succeed without appealing and consistent branding. After all, this represents the visual identity of your brand, and it can often make the difference between success and failure in a competitive marketplace.
Ultimately, your sports agency brand should strike the ideal balance between standing out and conveying several core values to potential clients, while the importance of professional design should also not be underestimated when trying to promote a successful, confident and aspirational service.
From a technical perspective, remember to build a brand name that bridges the gap between creativity and relevance. It’s imperative that your brand performs well in relation to competitive keyword searches, while it should also help to build awareness and recognition over time.
- Understand your Legal Requirements
In the sports sector, the concepts of commerce and law are intertwined with a host of diverse regulatory frameworks, and complying with this landscape can be extremely challenging for new businesses.
As a result of this, agency startups must rely on seasoned and reputable sports and entertainment law firms, who not only understand the market in detail but can also provide actionable guidance to ensure that you avoid any potential mistakes.
Over time, the best law firms will also share their knowledge and impart this in a way that helps your key stakeholders to understand their legal requirements, and this can lay the foundations for an efficient and profitable business in the future.