Pickleball is a fast-growing sport in the US. Consequently, having a pickleball business can be your new source of income. Pickleball business ideas are abundant and you can pick one that suits your preference. After deciding on which business to start, you must make a pickleball business plan.
Formulating this business plan can be a challenging task for some people. However, you can use a pickleball sports business plan template and example as a guide in writing this business plan. Moreover, you can learn the steps of formulating a pickleball sports business plan here.
Pickleball Business Ideas
Pickleball is not only a fun sport to play, but this sport is also a great investment. You can find many pickleball business opportunities where you can invest your funds.
1. Pickleball Facility and Club
Establishing a pickleball facility or club is an excellent business venture for those who live in an area with numerous pickleball enthusiasts. You need to have comprehensive facilities, such as outdoor/indoor courts, lessons, amenities, and membership, to attract customers.
The revenue of this business comes from court rental, membership, and lesson fees. Starting this pickleball business needs a large initial capital. However, you can apply for a loan to finance this business. You will need a pickleball facility business plan to apply for it.
2. Selling Pickleball Equipment and Gear
Selling pickleball equipment and gear is a simple and profitable business. You can sell pickleball paddles, balls, apparel, etc. via various channels, for example, online, in-store, or at pickleball events.
3. Pickleball Coaching Service
Those with excellent expertise in pickleball can start a pickleball coaching service business. This business is profitable and doesn’t need large initial costs.
Steps for Formulating a Pickleball Business Plan
A Pickleball business plan contains several sections. You must write each section in detail. Therefore, lenders, investors, and other readers will get a clear picture of your pickleball business when they read the business plan.
Below are steps for formulating a pickleball sports business plan.
1. Executive Summary
The executive summary serves as an introduction. You can write this section after writing the other sections because it summarizes those sections.
You must be able to engage the reader in this section by stating the pickleball business type and status. Moreover, you must write several details based on the following points.
- The overview of the pickleball industry.
- The type of pickleball business you run.
- A list of your competitors and an overview of your target audiences.
- An overview of the marketing strategy.
- An overview of the financial plan.
2. Company Overview
This section contains detailed information about the type of pickleball business you operate. For example, you must describe your pickleball facility if you run this business type.
Moreover, this section must also answer the following questions.
- When did you start the pickleball business?
- Why did you start the pickleball business?
- What milestone have you gained so far?
- What is your legal business structure?
3. Industry Analysis
Industry analysis is an overview of the pickleball industry. Some people call this section market analysis because they need to conduct market research to write this overview.
Writing this section will give you several advantages, such as helping you understand the market, making the reader believe that you are an expert in this industry, and helping you improve marketing strategies. The industry analysis must answer the questions below.
- How big is the industry measured in USD?
- Is the pickleball market decreasing or increasing?
- What is the pickleball industry growth forecast in 5 or 10 years?
- Who are the major suppliers in the market?
- What are the trends affecting the pickleball industry?
- Who are the major competitors in the pickleball market?
- How big is the potential target market for your business?
4. Customer Analysis
Your pickleball business plan must have a customer analysis section. This section contains detailed information, including the demographic profiles, of the customers you serve/plan to serve.
You can choose one of the following customer segments, such as pickleball clubs, families, and schools, depending on your business type. This customer identification will help you create marketing strategies that suit their profiles.
5. Competitive Analysis
The competitive analysis must contain the identification of your business’ direct and indirect competitors. Direct competitors are other pickleball businesses. Meanwhile, the indirect competitors are non-pickleball businesses, such as tennis clubs and sellers of non-pickleball sports equipment.
It is essential to give an overview of each direct competitor. This overview must answer the questions below.
- What are the types of pickleball businesses they run?
- Who are their customers? (The type and the profile of customers)
- What are their strengths and weaknesses? (You can get the answer by asking their customers)
- What is their pricing? (Low, medium, or premium)
6. Marketing Plan
This section contains an overview of the product, price, place, and promotion. You can follow these tips in writing each of those aspects.
- Product: You must describe your pickleball service and product in this subsection.
- Price: It is essential to write the price of each product and service. You must also describe the comparison of these prices with your competitor’s prices.
- Place: In this subsection, you must write the location of your pickleball business. It is not only about the address but also about the environment around the location. Moreover, you should describe how this location is ideal for your business and can boost revenue.
- Promotion: This subsection contains information about the promotional methods you use to attract customers. Several promotional methods you used are social media ads and marketing, flyer distribution, and advertisements in local radio and newspapers.
7. Operations Plan
You must describe your methods to meet your business goals in the section. The operations plan has two subsections, i.e., long-term goals and everyday short-term processes.
The former is about the milestone you want to achieve at a particular period. Meanwhile, the latter describes the day-to-day tasks you must do when running your pickleball business.
8. Management Team
This section highlights key players in your management team. You must describe their expertise and experience to show the reader they can professionally run the business.
9. Financial Plan
The financial plan contains a 5-year financial statement. You must divide the statement into monthly and quarterly statements for the first year and annual statements for the next years. This section consists of three subsections, i.e., cash flow statement, income statement, and balance sheet.
10. Appendix
You can attach your detailed financial projection in the appendix. You can also attach other supportive documents in this section.
Writing a pickleball business plan is not easy. This business document has many sections and you must fill each section with detailed information about your pickleball business. Moreover, you must also make this description easy and interesting to read. Therefore, its readers are impressed with it.
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