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CNBC: Athletes Playing for Millions with Franchise Business
Pro athletes are capitalizing on personal branding power.
Photo Credit: Joe Seer / Shutterstock.com
Many pro athletes are taking their competitive spirits and personal brands out of the sports arena and into the business world with franchise endeavors. From Shaquille O’Neal to Drew Brees, a slew of athletes are representing global brands and growing their business empires.
“If there's one thing professional athletes know, it's how to represent a big brand,” Maggie Overfelt wrote. “And that could be why so many pros buy into franchise business models, where huge payouts can come from executing on an existing image and concept.”
While the leap from sports arenas to franchise ownership comes as a surprise to some, Matt Haller, vice president of public affairs at the International Franchise Association thinks otherwise.
"A lot of athletes have consumer branding experience with restaurants, and that may be partly why they are drawn to ownership," he said.
While the athletic elite are dabbling in new business opportunities, one thing remains unchanged: they're striving for success with winning results.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
