Problem: It is difficult for student-athletes to earn and for small brands to find athletes who would endorse them.
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Solution: The solution? A revolutionary athlete-brand matching online platform. The business works in a simple yet effective model; student-athletes looking for sponsorship register themselves by entering the required information. NCAA athletes can enter their division whilst non-NCAA athletes can enter their rank for their respective sports. They can also attach videos of themselves playing or competing to convey their ability to brands in the best way possible. For the brands, it’s even more straightforward; after registering themselves, all they have to do is simply select a sport, and voila! A whole list of athletes pops up. Of course, they could get more specific using filters if they want to.
For example, a brand looking for a D1 tennis athlete could simply select ‘Tennis’ as the sport, ‘NCAA’ as the regulatory body, and ‘D1’ as the division. The athlete would then get a notification regarding the brand that has scouted them and could either accept, decline, or negotiate. The target market for the platform is mainly small brands looking to expand their reach and student-athletes looking for a way to monetize their ability. Think Fiverr but for brands.
Why would brands go for this platform, though? Let’s look at what the situation could have been without it; brands have to contact college coaches, attend sporting events to scout for athletes, advertise themselves, and a lot more. With the application, all they have to do is follow a three-step process; register, filter, and select! There are currently 520,000 NCAA student-athletes; this number has been growing at a slow yet steady rate and is anticipated to keep doing so. When it comes to non-NCAA athletes, that number is in the millions! The competition includes platforms like OpenSponsorship; however, their focus is not specifically on college athletes, but rather on other careers.
The monetization model involves a subscription fee of $15 per month for athletes and $30 per month for brands. Additionally, a commission between 2% to 5% (depending on the value and time period of the contract) would be charged on each successful placement.
Monetization: subscription fee + commission
Contributed by: Daksh Sachdeva