Prevalence of Obesity in USA
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The first thing that is needed to be done when trying to look at the new business prospects is that how is the industry performing at the given point of time (Milano & Chelladurai, 2017). The idea is to make sure that the industry trends and cycles are needed to be kept in mind when any such decision is needed to be made (Milano & Chelladurai, 2017). The idea is to make sure that how the overall performance of the industry is supposed be worked out and is there enough merit in pursuing further opportunities in that industry at the given point of time (Milano & Chelladurai, 2017).
As per some estimates, the youth sports are increasing in terms of revenue by almost 35 % each year and it goes to show that there is tremendous interest among people (Milano & Chelladurai, 2017). More and more people are trying to enrol and looking towards the youth sports program and the likelihood is that the trend is going to keep gaining momentum (Milano & Chelladurai, 2017).
Trends and Happenings
At the moment, there is a realization among parents that effort must be made to make sure that the change must be brought into the lifestyle of the larger population and one of the ways it can be done is to make sure that more and more people are made to be involved in sports. The other dimension is that even females these days are more than eager to take part in sports and break the traditional mould and barrier (Milano & Chelladurai, 2017).
Lifecycle of the Business
One thing that has to be kept in mind in terms of the functionality of the business is that stage of the lifecycle it is at the moment (Milano & Chelladurai, 2017). Looking closely at the youth sports, at the moment, it is felt that even though the public interest is there, the sort of investment is not being put, the money is not there and there is a need to make sure that money is being pumped in the industry (Milano & Chelladurai, 2017). What it means that for a potential investor, it is a great opportunity due to the fact that there are people who are interested to come to the fore and the demand is there but at the moment there is not much supply (Milano & Chelladurai, 2017).
Competitive Environment of the Business
One thing that has to be noted here is that even though there are not many competitors that are making their mark in the respective field, there is a need to make sure that more effort is being put in this regard (Milano & Chelladurai, 2017).
Compartmentalization of the Market
If one looks closely at the youth sports market at the moment, it can be seen that there are two major segments in which the market is bifurcated at the moment (Pitter & Andrews, 2017). The first section comprises of the smaller outlets that are integral as far as the way rationalization of the competition is supposed to be carried out (Milano & Chelladurai, 2017). The multimillion dollar industry is huge in the aspect that there are about 60 million children and young populate that is getting enrolled in such programs and making an attempt to make sure that they are actively working on their physical prowess (Li et al. 2012).
Emergence of the Youth Sports Team
One key thing that has changed the dynamics of the market is the youth sports team that is supposedly working on campuses these days (Pitter & Andrews, 2017). The idea behind the creation of these sports team is to make sure that the major stakeholders are in the position to ensure that how in the long run all of these things are needed to be followed at the given point of time (Li et al. 2012). These teams act as an important avenue for the exploration of the new talent (Li et al. 2012).
Implementation of the Franchise Model
As the sports at the youth level are becoming more and more professional with the passage of time, there is a need to make sure that the action is taken with regards how the franchises are supposed to be working together to create a better pool of players and thus the emergence of the franchise can be considered as one of the major instances the market is taking a self-correction action in terms of the way industrial development is supposed to happen (Li et al. 2012). The market players like I9 sports and other are venturing into the youth sports and it means that there is a likelihood that new avenues are soon going to be witnessed in the youth sports (Li et al. 2012).
The final thing that any business needs to look at is the current prevailing market environment and how this environment is going to be one of the biggest factors when determining whether and entry is needed to be made into this market or the prospects of the market are not enough that new investments are being made or new business is setup in the corresponding region at the given point of time (Pitts et al. 2016).
Coalescence in the Market
One thing that has been happening a lot off late in the youth sports market is that how the various market segments are needed to be brought together and how the youth sports software’s are supposed to be working out (Scott & Michele, 2017). Due to the advent of this, the youth sports market has started to become well defined with the passage of time (Scott & Michele, 2017). Not only that, the way apps are being used, it allows the integration of the technology to be carried out in a much better manner (Pitts et al. 2016).
Youth Sports Programs and Community Development
Another dimension that has been added to the whole thing is the availability of the youth sports program and how they are going to be aligned with the objective of community development (Scott & Michele, 2017). The idea is that the community development programs are going to be adding new dimension to the overall narrative of the community development as it allows the economy to spin out more and more wealth at the larger economic scale at the given point of time (Scott & Michele, 2017). The sports specially at the youth level is going to play an integral role in terms of the community development and it is one of the most important aspects of how the whole thing is going to work (Scott & Michele, 2017).
In the hindsight, it can be said that the youth sports programs are going to be the way forward and keeping in mind the bright industry prospect and overall acceptability among people for this initiative, it is fair to assume that in the long run it is going to be an industry driven with high participation (Scott & Michele, 2017). At the moment, the lifecycle of the business suggests that there is prospect for considerable improvement in the business (Walker & Kent, 2018). The prospects of the business are quite decent in the long run.
Li, M., MacIntosh, E. W., & Bravo, G. A. (2012). International sport management. Champaign, IL: Human Kinetics.
Milano, M., & Chelladurai, P. (2017). Gross domestic sport product: The size of the sport industry in the United States. Journal of Sport Management, 25(1), 24-35.
Pitter, R., & Andrews, D. L. (2017). Serving America's underserved youth: Reflections on sport and recreation in an emerging social problems industry. Quest, 49(1), 85-99.
Pitts, B., Fielding, L. W., & Miller, L. K. (2016). Industry segmentation theory and the sport industry: Developing a sport industry segment model.
Scott, A. K., & Michele Turco, D. (2017). VFRs as a segment of the sport event tourist market. Journal of Sport Tourism, 12(1), 41-52.
Walker, M., & Kent, A. (2018). Do fans care? Assessing the influence of corporate social responsibility on consumer attitudes in the sport industry. Journal of Sport Management, 23(6), 743-769.
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