If you’re a fan of the hit HBO series sharing a title with this blog then you’ll probably have a pretty good idea of where we’re headed. One of the biggest challenges facing the sports agency community today is the difficulty of building succession into the business plan, particularly when an agent gets to an age where retirement comes into focus or partners desire to come into the business.
How much is the business worth? When’s a good time to sell? Will the client’s stay? Do I sell all or part? Where do I find a buyer? & How do I paper the deal? are bound to be just a few of the key questions asked by any successful independent agent.
On the other side of the fence, the buyers are out there but are often discouraged by the very same challenges of trying to value the business they want to buy and keep the client base intact. The historic lack of succession in a sports agency has also been a deterrent for some super talented individuals to even enter the sector fearing that they will never manage to build enterprise value into and monetise their agency. So, here are just a few of the problems, but what about the solutions? We don’t need to reinvent the wheel here. Many knowledge-based, ‘eat what you kill’ business sectors have figured out reliable and consistent ways of structuring and valuing their assets and we’ve spent decades analysing those models and how we can best apply them to a sports agency.
So, if you’re considering buying or selling then Athletz is creating an end to end solution for you. We will roll out a price plan in August designed to answer all the questions raised in this blog and many more. But we’re not stopping there, we’re also creating a marketplace just for sports businesses so when you’re ready to do a deal we give you the platform to meet your buyer or seller. Hit subscribe to be first to find out more. And for those inclined to keep it in the family and hand the business to the next generation, if ever there was a salutary tale of what can happen within families, season 1 episode 1 of Succession pretty much nails it…