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Franchise Ownership for Athletes

by Seth Lederman

There has been an increasing trend of ex-professional athletes buying into franchise ownership to grow their wealth. Besides, several franchisors have been seeking former athletes to grow their established franchises by holding networking events and hosting seminars to recruit them to help speed up the buying process.

recently placed an NFL player into a fitness franchise. He is in his 20s, but with an NFL player’s average lifespan being about three years, he was already halfway, if not more, through his career. Over his years playing, he made just enough money to do something else with his future. And he chose franchise ownership, not ever anticipating before that a franchise would help with his transition into the next stage of his life. I was fortunate enough to help him move onto the next chapter. My job was to set him on a path to successful business ownership

When we first met, his main goal was to find something that would accommodate his family. He wanted to take the experience that he learned in the NFL and grow something of his own. I was honored to act as his mentor and to help navigate the process of franchise ownership. We used a very systematic approach to clarify how the next chapter of his life would look. Once we explored a multitude of franchise opportunities, we were able to find the best fit for him to see both satisfaction with his new path and success for his financial future.

The Phenomenon of Athletes Investing in Franchising – A Recipe for Success

According to the National Bureau of Economic Research, 15.7% of professional football players file for bankruptcy just twelve short years after leaving the sport. And Sports Illustrated found that as many as 60% of those finishing their career with the NBA lose it all within just five years after retiring. That is a shocking revelation when you consider the enormity of what a typical NFL and NBA salary amount to at the end of the average athlete’s career. 

There has been an increasing trend of ex-professional athletes buying into franchise ownership to grow their wealth. Besides, several franchisors have been seeking former athletes to grow their established franchises by holding networking events and hosting seminars to recruit them to help speed up the buying process. The reason? Professional athletes have the financial resources to make a franchise successful.

“I recently retired from professional ball and my next objective in transitioning was to find something to be a part of that I enjoyed, but also challenging while being profitable” – David Bass Jr., Franchise Owner & Former NFL Player

What Skill Set Does a Professional Athlete Bring to the Table?

Ex-professional sports players are ideal because they already know how to follow a “playbook” of rules to make things work. Franchises run like sports plays. If you follow the guide, then the rest is a piece of cake. Ex-athletes are also very good at following a coach. They understand that the best way to make it to the finish line is by taking the advice of the person who oversees the game and knows how to weave and duck to get the ball where it needs to go. Finally, pro-athletes tend to possess leadership skills that make them successful both on the court and off. Leadership is a crucial ingredient to becoming a business owner, in general.

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Solving Ex-Professional Athletes Bankruptcy Problems

Although there is no surefire way to stop pro-athletes from going down the proverbial “rabbit hole” leading to bankruptcy, franchising can help channel their energy into growing something for their future. Many successful athletes have found a satisfying new venture off the court where they might not have imagined without the help of our coaching. A franchise consultant is similar to a head coach; we help our clients navigate the hurdles in their way to make the goal clearer and more attainable.


And It Isn’t Just About Sport-Industry Franchise Opportunities.

An obvious choice for ex-pro athletes would be a sports franchise like “Orange Theory” or “D1 Fitness.” But the beauty of being a franchise owner is that you don’t need any experience to flow into a different industry. All the skills that pro-athletes learn during the years of playing plays right into the hand of what you need to make a franchise successful. I find the most satisfaction in matching pro-athletes into franchises that they might not have ever considered without my help!

So is a Franchise a Good Fit For You?

As a professional athlete, your lifespan in sports is usually just a blink, and then it is behind you. Diversifying your assets by owning a franchise is an excellent way to switch gears for your financial future and security. Franchise ownership allows you to join an industry where you have no experience but where all the many skills you learned on and off the playing field are all you need. The goal of choosing your next venture is to find something you are passionate about that comes with minimal risk. A business that you know has the longevity to sustain your financial freedom desires long after your sports career has ended. Franchising is an excellent way to switch gears and find something that works for you instead of you working for it. Contact me today to discuss how we can get you from the ball field to business ownership today.

DISCOVER A BETTER WAY TO EARN WHILE LIVING

Profits are Better Than Wages

Tired of putting in hours of hard work while someone else benefits? You can earn money in a way that fits your lifestyle rather than the other way around.

In “Profits are Better Than Wages”, experienced franchise advisor, Seth Lederman answers the “how” and “why” of going into business for yourself.

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Assessments

What kind of franchise business will match your skills, experience, passions and even more important...your personality? Answering these questions now, will save you time and grief during your search.

Industry Guides

Learn about the various franchise industry segments, from Home Services to Beauty, and more. With nearly 4000 available franchise opportunities, understanding the pros and cons of the industries is crucial for a successful franchise search.

Events

Having helped hundreds of people get into business ownership through franchising, we are in a unique position to educate prospective franchise investors.

How-To Articles

On our quest to share the best in franchise information, we've developed a series of How-To articles with practical advice to move you forward in your franchise search.

Videos

View our collection of educational franchise videos for large investors and first-time entrepreneurs.

Blog

The FranBlog is a trusted digital publication, providing news and information that entrepreneurs and franchise investors want.

LEARNING CENTER
Basics

Are you sick of the 9-5 grind and actively looking for alternatives? Start with the basics of going into business for yourself.

Intermediate

Searching for the right franchise opportunity is like looking for a needle in a haystack. If you want to search smarter, not harder, check out the franchising insights and knowledge to get you there faster.

Advanced

You've decided to explore franchise ownership. Now, making it a reality with tips for vetting, funding and minimising the risk of your franchise investment.

Help Center

Do you have questions about investing in a franchise? Check out our comprehensive help center for answers. If you don't find what you're looking for, submit a question and our team will get back to you.

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