Development Funding: How to Fund a Sports Training Camp
One of the most difficult aspects of creating an athletic training camp is securing development funding. Training camps are expensive with the need to invest in equipment, coaching staffs, transportation, and sometimes boarding for your athletes. In order to cover these upfront costs, it is important that you secure development funding to get your athletic training camp started. There are a few different funding methods you can use when starting out depending on the size of the camp you are aiming for. Today, Sports Facility Management will discuss some of the methods of development funding you may want to use to get your training camp started.
Methods of Securing Development Funding
Donors – A growing method of development funding is the use of donations as primary funding. While attracting individual donors is a possibility, the biggest movement in development funding is the creation of online crowdfunding campaigns. Targeting the right people using social media and digital technology can allow your training camp to get a major source of development funding online.
Attracting Investors – With the right feasibility studies and financial models, many sports training camps can actually become quite profitable. As such, it is entirely possible to attract investors willing to help fund your sports training camp in return for future potential profits. With private investors, you will likely need a “feasibility report” which will include initial equity, strategic advantages, opportunities for revenue, and other critical aspects of private sector financing.
Applying for Grants – If your sports training camp is designated as non-profit, you may be eligible for grant funding. Many state and federal programs are designed to fund health-related programs your training camp may be eligible. In general, reports will focus on community impact (access, health, social, economic impact, etc.) as opposed to financial return on investment.
Need Professional Help to Fund Your Training Camp?
Sports Facility Management has been helping sports-focused businesses move from plan to reality for the last fifteen years. Our team has helped hundreds of businesses secure the funding that they needed to get started. With the SFM team working with you, your project financing phase will have expert reactions to questions about the development timeline, program plan, start-up costs, financial forecast, and operating plans. Interested in learning more about how Sports Facility Management can assist you? Contact us today at 727-877-1791 to learn more about what we can bring to your team.