Athletes Becoming Franchisees

Posted on June 08, 2011 by Bryan Nisperos

Franchises represent a way for virtually anyone to launch a business with a proven product model and business plan. Entrepreneurs have been taking advantage of franchise programs for years, and a recent trend has seen many celebrities and athletes diving into franchise markets with overwhelming success.

In April, 2011, smoothie franchise Jamba Juice announced plans with tennis star Venus Williams to open up five stores over the next two years in the D.C.-Maryland area. Jamba Juice chairman, president and CEO, James White, stated that, \"We thought that Venus would be the ideal partner; she epitomizes, from our vantage point, a person that leads a healthy, active lifestyle. She’s one of the most recognized athletes on the planet, so we couldn’t think of a better partner to enter the D.C. marketplace with.\" Williams is one of many athletes to see the value of a franchise and capitalize on the head start a franchise grants the owner over started a traditional business.

In addition to Williams' recent franchise plans, the Professional Athlete Franchise Initiative (PAFI) is a platform for professional athletes in the franchise industry, whose goal is to bring awareness to the professional athlete community about the franchise opportunities available to them. Many professional athletes find that as their athletic career comes to an end, they need to have some sort of business to continue on with, and franchising makes a lot of sense for many of them. Franchises allow an athlete to use their own investments to start one or more businesses, then hire on staff and management, leaving them to take on the role of planning, opening new locations and overseeing their investments.

Last year's "Franchise Summit '10" was co-sponsored by the International Franchise Association and the Atlanta-based Allied Athlete Group and focused, in part, on educating athletes about the franchise industry and how to be a part of it. New York Giants linebacker, Gerris Wilkinson, is one such athlete that sees the value in franchising and is working with the organization to teach other athletes how get involved as well. Wilkinson, who recently opened a Golden Corral restaurant franchise, said that, "A lot of (current) athletes are focused on the daily experience and the lifestyle," and neglect to plan for the future after their athletic career ends. Wilkinson's plea to athletes is to start planning for the future now while they have access to business contacts and investors, rather than waiting until their retirement to start planning their next steps.

Franchises represent a way for athletes of nearly all pay grades to plan for the future by starting up their own businesses. One of the key benefits to franchising is that an athlete can open up a location and be relatively hands off once there is good management in place, making it the ideal solution for an athlete with a packed schedule. Then, after their athletic career comes to a close, they can be more hands on with the franchise, or expand it to a region of franchises, continuing their role in oversight and development of the franchises.