Games! Sports! They are enjoyment-filled, excitement-ridden and adrenaline-thumping. Go to various parts of this globe, and sporting events would bring a smile on anybody’s face. The recently concluded FIFA World Cup had almost the whole world stuck to the scoreline and of course the strange-phenomenon of Paul, the Octopus who predicted almost flawlessly. Whenever an international sports event is staged, there is a lot of buzz in the media: Be it print, digital or visual.
Though sports are for sheer fun, there is a whole lot of businesses that thrive or get the pump when a sports event is hosted. This is one area where entrepreneurs can try and get reap hefty benefits. We are marching towards the Commonwealth Games 2010, which Delhi would be hosting in October. With visitors coming from around the globe, there are multiple things that Delhi needs to do. Are entrepreneurs ready?
Let’s have a deeper look into the business aspects associated with such sports events:
- Entrepreneurial opportunities in infrastructure
For an event of this magnitude, infrastructure is the first thing that comes in the mind of organizers. Games village and other permanent and impermanent structures are needed to be built. This could mean roads, over-bridges, underpasses, grounds, furnishings, fittings: Whatever you can imagine in the infrastructure and architectural industry will have some opportunity to do. Contracting and sub-contracting is done by the organizers and entrepreneurs can have their share of pie.
- Entrepreneurial opportunities in services
After infrastructure, the next thought comes about services. This would include transport including road, rail and air, sanitation and cleanliness, general maintenance services, telecom, IT services, medical services, emergency services, security services, translation services, liaison, cargo and logistics, escort services: all these provide a whole bunch of new opportunities for entrepreneurs.
- Entrepreneurial opportunities in Food and lodging
Food and lodging is the next big thing. Even if we exclude the travel/tourism part of any event, food and lodging are still needed. Hotels, restaurants, bread & breakfast services, beverages, food outlets, eateries, groceries, kiosks will have great go when the games are on. The food aspect can be explored on both sides: Local as well international.
- Entrepreneurial opportunities in Sports gear and equipment
Every sports event increases the use of the sporting gears related to that game. Sports gears, utilities, spare-parts, replacements, exercise facilities: all these provide good opportunities for entrepreneurs looking to explore the sports equipment manufacturing area.
- Entrepreneurial opportunities in Media
Media is power: For news and coverage of sports events, media will reign over everything. TV media, newspapers, publishing houses, advertisement agencies and even online news portals would have their wings spared up to cover everything. Entrepreneurs can tap these opportunities quite easily.
- Entrepreneurial opportunities in FMCG
This poses an interesting problem as well as opportunity. The consumption of FMCG products would go up and there is huge guess-work that sellers would have to do in terms of forecasting the production for the same. Any sports event brings a lot of travelers and so does the consumption of FMCG products.
- Entrepreneurial opportunities in Travel/tourism
When it comes to an event, travel/tourism is an extension of the business opportunities. In the present time, people love to travel and explore the local flavor. Right from recreational spots to historical monuments, the city hosting the sports event can showcase itself to the world. The entrepreneurs can tap this opportunity in areas including, guided tours, local transport, translation services, food stalls, etc.