Setting up a sports photography franchise could be a great way of combining a hobby with a business, especially as demand for event coverage continues to increase -- even at the junior and amateur levels.
Sport is a large and lucrative industry and could provide a great payoff for someone willing to invest time and money into a new venture. However, developing a successful sports photography franchise will require a large degree of flexibility, with events often taking place during evenings and weekends.
Though a permanent retail outlet is not usually needed, the price of professional photographic and processing equipment can quickly mount up. A reliable vehicle is also needed in order to attend sporting events and transport equipment around.
Some experience of photography would be beneficial but the majority of franchises will provide the training necessary to run your own successful business. Some franchise providers will also offer ongoing training to ensure that photographic and business skills remain up-to-date and focused on customer needs.
Opting for a well-known franchise also means that there is the added support of a high-profile brand name to help ensure initial bookings and client interest. However, without sufficient work even the most well-established branding may not result in a successful opportunity and the value of the original investment could diminish.
Anyone planning to invest in a franchise is reminded to ensure they do adequate market research and fully examine their long-term business plans to ensure that they will be able to realize a strong profit on their initial investment.
In particular, it is crucial to clarify what geographical area will be covered by each franchisee before formalizing an agreement. Under the best case scenario, there should be no overlap in territories as this could undermine overall competitiveness and reduce potential profit.