- Work "After" Work
- How to profit BIG with pickleball
How to profit BIG with pickleball
huge multi-million dollar opportunity
GM. This is Work "After" Work. Where we explain how to start unique businesses in under 5 minutes, so you can spend the rest of your day figuring out who closes the bus door when the bus driver gets out.
Here’s how we’re starting the week:
🏓 The Topgolf for Pickleball
😂 Meme of the day
To the 221 new readers since my last email - Welcome to the WAW fam! 😊 Let’s get it 💪
THE TOPGOLF FOR PICKLEBALL
The other day my friend invited me to play pickleball. If you're wondering if I've ever swung a paddle before, the answer is a big, fat NO.
I had obviously heard of the game since everyone and their mother (37M people) are playing but I had never actually picked up the paddle.
Lucky for me, my friend asked to play at 6 a.m. 😅
*me trying to look excited to play this early
Fast forward a couple of hours, and to my surprise:
I was actually quite good
It was A LOT of fun
I drank the kool-aid, and it was great.
By the time I left, the courts were full and it was only 8 a.m.
So on my drive back I got to thinking. Is there a way to capitalize on this movement?
That’s when it hit me "TopGolf for Pickleball”
The sport saw an 85% increase in players in just one year. Add to that 25,000 new courts are being built to keep up with demand and it looks like Pickleball is growing faster than my obsession with binge watching Suits when I should be asleep.
I dug around and found that someone is starting a similar venture for basketball in Atlanta called Jumpshot.
They’re calling it “The basketball version of TopGolf”
If you’ve never been to a TopGolf it looks like this:
It’s a place where friends hang out, whack golf balls, and just have a good time. It's less about the golf and more about the fun.
And boy do they crush it. Last year, TopGolf made $158M in profit!
Do the same thing but for pickleball. People are already dishing out $250 on new pickleball paddles. They would 100% be down to come socialize and play in a larger setting.
Here's what I’d do to make money from this idea
#1: Offer diverse gameplay options
If there’s one thing I’ve learned through all of this it’s that pickleball players are ultra competitive.
Don’t only provide regular gameplay. Make it more exciting.
Ball speed competitions - who can hit it the fastest?
Ball accuracy - special targets on your court. When players hit these, they get extra points
Random competitive pairings - force people to meet new friends and provide prizes to winning teams
Have a big leaderboard showing the top players/teams each week. Everyone will want to see their names up there!
How you’ll make money:
Charge a fee to enter the venue
Charge players to join tournaments - offer prize money and take 10% of every tournament pool
Get local businesses to sponsor prizes and partner with them for advertising in your venue
Charge by the hour, like Topgolf
#2: Include food and drinks
Although, TopGolf doesn’t specifically break out its revenues reports indicate that TopGolf generates about half its revenue from food and drinks sales.
That would be ~$80M in profit. This will be a big revenue driver.
The secret to TopGolf’s massive success is their family approach and nightlife options that draw a diverse customer set.
Nearly half of TopGolf guests describe themselves as “non-golfers”, showing its appeal beyond the nation's 67 million golfers.
Partner with local food vendors. They get to promote their business, players get a taste of the town, and you get a commission.
Or charge vendors a fee for setting up their stalls at your venue.
#3: Host social nights
Organize nights where players can socialize. Perhaps a “Doubles Night”, where players can pair up randomly and compete against each other.
You could sell tickets for special event nights or offer special packages that include food and drinks at a discount.
#4: Membership packages
Offer monthly or yearly memberships that provide players with perks like:
Discounted court fees
Free participation in certain events
#5: Private lessons
A lot of people want to play pickleball but don’t want to be the worst player on the court.
Just like with any sport, offer lessons for beginners and charge per session. Partner with experienced players or trainers and take a cut of the revenue.
On average, a private pickleball lesson costs between $50-$100 per hour.
The bottom line…
This is a larger scaled business but it would absolutely crush if you open it in the right area.
“There is a lot of capital in the world, and it’s looking for a home.”
If you can pitch an investor why this would work and why you’re the person to do it with this is a possibility even if you have no money.
And if you think I’m lying just listen to this podcast about how this woman had no money and bought a $20M egg carton business.
Lastly, I’ll leave you with some insights.
The most obsessed states with pickleball aka where you should be setting up shop are:
📊 Quick Poll
TopGolf for Pickleball: Yay or Nay?
Do you have a credit card!? If so, you’re missing out on $1,000’s of dollars in free money!
You see credit card companies have these “cash back” offers for when you use their card to purchase items. It could be like 5% back on target purchases. But the problem is you have to manually go in and activate it and there are like 100’s offers like that. It’s just too much work…
That’s where this app called Saavy comes in! They automatically add all your credit card offers with one button. That way you can just use your card like you normally do and get cash back for your purchases if they qualify!
It’s helped me save $100’s so far, and I know you can too!
AND if you download the app using this link and send me a screenshot proof I’ll send you $5 on me :) (just reply to this email!)
MEME OF THE DAY
Turns out this is not a viable retirement strategy
— Trung Phan (@TrungTPhan)
Nov 3, 2023
😂 😂 If you didn’t see SBF (former CEO of FTX) was convicted on all counts of wire fraud, securities fraud, commodities fraud, and money laundering. He faces 110 years.
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That's a wrap ladies & gents!
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.