Sporting business: An open field for entrepreneurs
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After a successful career in the corporate world spanning over 19 years, Adnan Adeeb along with his wife Zeba followed their instinct and diverted their energies into an area which they had no expertise. All they knew was that the business was doing well in the developed world.
They set up a company called Volano Entertainment with the help of funding from an angel investor two years ago. The company offers sporting facilities to working professionals who have lost touch with sports.
"For most people, sports (managment) business means managing celebrities or creating leagues such as IPL but we are working towards bringing working individuals back to sports where they can burn calories, have fun and make friends," said Adeeb. Volano Entertainment is a platform where individuals can join a weekend sport or play in a league, train themselves for marathon or even join obstacle racing.
Only in his second year Adeeb's firm has generated a topline of Rs 2 crore, and in the third year he expects to break even with a topline of Rs 5 crore and he is quite happy about what he is doing.
The growth of economy has a direct bearing on the development of sports in a country and India is no exception to this. As the economy started to witness higher growth rates, rise in per capita income and improvement in infrastructure, there has been a visible rise in India's medal tally at the Olympics, Asian Games, the Commonwealth Games and at other major events.
On expected lines, the business of sports is also on a rise and so is the entrepreneurship within the same.
While some are utilising their knowledge, expertise and contacts to start their business in the field of sports, there are some like Adeeb who are adopting a different approach and are trying to rope in the community and still their are others building a business model around successful leagues in the field of advertising and event management.