The Value of Franchising after a Pro Sports Careers
A business franchise is an attractive prospect for the athlete that wants to have a successful future after playing. By making wise investment decisions and putting finances in the right places the professional athlete can continue to build financial stability and freedom for years. Numerous potential investments exist for the forward thinking athlete and leveraging a professional consultant can help an athlete understand their options. These days, athletes can become a part of a national or international proven franchise system and leverage their earned capital and athletic status to build on-going wealth and equity.
Through years in sports, athletes have developed many of the skills and discipline to become successful franchise owners. For example:
- Athletes have learned to follow a “playbook” – Franchising is a system, i.e. a proven ‘playbook’ that results in predictable, successful results when executed properly.
- Athletes realize that “winning” requires hard work, discipline and commitment – Just like in sports, you did not wake up one day at the top of your game. Franchising allows the former athlete to focus that same dedication and determination into a successful, lifelong career in business.
- Athletes are “coachable” – Although they may be supremely talented, even top athletes recognize the need for coaching and ongoing training to continually improve their skills. Franchising provides a lifetime of training and support to deliver higher levels of success by adding additional franchise units and receiving the training (coaching) to improve their skills and maximize performance.
Key Benefits of Franchising for an Athlete’s Career
- Franchising guarantees the athlete to have a source of income after their professional career has ended. It allows them to become part of a proven system and the opportunity to leverage the franchise system to earn income, build wealth and equity.
- Franchising brings in multiple sources of income and a well-capitalized athlete has the option of creating a “right-fit” diversified franchise portfolio. Developing multiple units within a brand or pursuing Area Development opportunities where specific territories can be bought are great options. For example: A qualified franchisee may own multiple fitness, food, and spa franchises. Some popular franchise brands also offer a Master Franchise Opportunity in which you can share in the Franchise Fees and Royalties. This is done by recruiting qualified franchisees for a defined territory and working with the franchisor to achieve an agree upon development plan. The Master Franchisee shares a portion of each awarded franchise fee and also shares in the royalties after the franchisee opens the unit for the duration of the franchise agreement. Click Here to learn more about the financial benefits of Area Developing or Master Franchising.
- Franchising allows the athlete to become part of the business brand. If an athlete wants his fans to remember him even after he is finished playing, then a franchise is a great option. Being involved with these investments can help the athlete to remain timeless. Several athletes (i.e. Peyton Manning) have successfully created a brand reputation simply by engaging in the right franchises. Franchising goes way beyond just making additional money for the pro athlete. It can also help the athlete create a brand name that will be remembered years after playing.
Franchising can be a natural progression the life of a professional athlete.
To learn about franchise opportunities that are well-suited for rehiring professional athletes, please contact Drew at info@frangroup.com or 800-853-8808 or go to www.frangroup.com and click on our dedicated PRO ATHLETES page.
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