Written By: Resham Daswani

The Olympic Games! The Olympic Games! If we open the newspaper today, we will witness our nation shining, which will be good for the Indian economy and the youth of today. The Olympics boost the Indian economy in many ways. Businesses in the sports industry are booming because to all the attention this major event is receiving. Consequently, let's get in on the action and expand alongside some of India's most prestigious sports equipment franchise.

Understanding The Indian Sports Equipment Business Market

Especially in light of the ongoing Olympics, the Indian sports equipment market is on the brink of substantial expansion. Because it presently has a market size of roughly USD 3.5 billion and is having a solid growth rate, the industry is well positioned to reap the benefits of the increased interest in sports and fitness..

Moreover, entrepreneurs and businesses that enter this market can anticipate that the Olympics phase will result in favourable economic conditions and increased consumer demand.

The Indian market for sports equipment has been booming recently, particularly in the run-up to big athletic events like the Olympics. A synopsis of the market's current size and projected growth rate is provided below.

• The current market value is as follows:The Indian sports equipment market is expected to be worth USD 3.5 billion by 2023. This figure covers the whole sports equipment market.
• Over the past few years, the sales of sports equipment in India have increased at a compound annual growth rate of 9-10%. Sports participation, fitness awareness, and significant athletic events drive this increase.
• The Olympics' impact: Market growth was anticipated before the 2024 Olympics. Sports equipment demand rises during important international events. Consumer engagement and spending during the Olympics might boost market growth by 10-15%.

Moreover, here are some of the segments of the Sports Equipment Business in India.

• The cricket equipment market accounts for about 25-30% of the overall market value, which is not surprising given that cricket is the most popular sport in India.

• Equipment for Fitness: Between twenty and twenty-five percent of the market is devoted to fitness products, such as exercise machines and sportswear apparel.
• The remaining market share is made up of gear for other sports, such as badminton, football, tennis, and new sports.

Also read: The best sportswear franchises to start in India

Key Market Drivers Enhancing the Growth Of India’s Sports Equipment Franchise Business

During the Olympic moment, the following market factors contributed significantly to the expansion of India's sports equipment industry:

1. Increased Sports and Fitness Awareness: The Olympic Games typically motivate people to play sports and get active. Sports equipment demand rises with more sports and fitness activities. Health trends and the pandemic have raised awareness of physical fitness, driving this need.
2. Through Khelo India and other sports infrastructure projects, the Indian government is working to encourage sports. Investing and government initiatives are also being undertaken. Through these programs, grassroots sports are encouraged, athletic facilities are improved, and public engagement in sports is encouraged. The Olympics provide a boost to these activities, which, in turn, helps the sports equipment industry thrive.
3. Huge youth sector: The young of India are a major sports equipment market. Younger generations are more interested in sports and fitness due to personal interest and global sporting events like the Olympics. Demographics promote sports equipment industry growth.
4. Highly advanced sports equipment: High-performance sportswear buyers are drawn to new materials, designs, and features. Technology keeps equipment up to date for athletes and fitness aficionados, fuelling market growth.
5. Well structured Clubs and Sports Associations: India has many sports academies and clubs that offer formal training and encourage participation. Sports equipment is in high demand at these universities. This requirement is heightened by the Olympics' sports focus.

Grab The Opportunity Of Investing In A Sports Equipment Franchise in India This Olympics!

There are a lot of advantages for entrepreneurs to start a franchise promoting sports equipment during the Olympic season. There is a plethora of opportunities, including higher demand from consumers, more brand recognition, strategic alliances, and financial backing from the government.

Moreover, businesses can take advantage of the worldwide interest in sports and fitness during the Olympics to create a lucrative enterprise that can continue to thrive even after the games have ended.

Some pros include:

1. Increased Consumer Demand: The Olympics increase sports participation and interest. Increased demand for sporting goods is a direct result of the growing popularity of sports around the world.. Entrepreneurs can use this desire to boost sales quickly.
2. Increase in Brand awareness: Businesses that partner with the Olympics might gain global exposure. Olympic themes and the event's popularity can help your sports equipment business grow and get clients. Therefore, its a great opportunity for those who have a sports equipment business to grow it now!
3. Potential Strategic Partnerships: The Olympics allow relationships with local sports groups, schools, and fitness centres that are also popular. Sponsorships, promotions, and community events with these organisations can promote customer loyalty and long-term partnerships.
4. Increase in Both Offline and Online Shopping: The Olympics thrill people worldwide. Local sales from community participation and internet sales from Olympic sports interest throughout the world can benefit entrepreneurs.
5. Profiting from Fitness Trends: The Olympics promote exercise and healthy living, rising trends. Sports equipment franchises are a great way for entrepreneurs to cash in on these trends at the moment by providing customers with items that support their fitness objectives and encourage them to stay active.
6. Maintaining Business Growth: Opening a sports equipment brand during the Olympics has immediate benefits and long-term growth potential. Increased sports and fitness enthusiasm may prolong client demand, ensuring corporate success.

Therefore, why miss out on this great opportunity?  Sports equipment franchises during the Olympics have many advantages. Opportunities abound in consumer demand, brand awareness, strategic collaborations, and government backing.

Also, Entrepreneurs may create a lucrative enterprise that lasts far beyond the Olympics by riding the wave of interest in sports and fitness around the world.

Top Sports Equipment Franchise In India To Start During The Olympics

Here are a few options to look out for in the sports equipment franchise sector in India.

1. Adidas Franchise:

Also, a global leader in sportswear, offers a diverse product line and enormous franchise potential. Adidas items are available worldwide. The company's straightforward strategy enhances technology and goods, increasing competitiveness and profitability.

The company Adidas and its private manufacturing partners produce more than nine hundred million sports and leisure goods yearly.. Company sales were € 21.915 billion in 2018. The figures alone show that Adidas is a vast and diverse company.

Click here to know how you can an Adidas franchise anywhere in the country.

2. Reebok India Franchise:

Reebok formed the Reebok India Company in 1999, and it is a fully-owned subsidiary of Reebok International Ltd.. By taking this action, Reebok demonstrated their dedication to the Indian market and gained more influence over their marketing and operations. The Gurgaon, Haryana headquarters of the Reebok India Company served as the nerve centre for the company's management and activities throughout the Indian subcontinent.

3. Yonex Retail Distributorship:

In the early 1990s, Yonex entered India. Given its global reputation for high-quality sports gear, the company primarily focused on badminton, tennis, and golf equipment. Yonex became known for its innovative and high-performance goods, especially in India's popular badminton.

Moreover, Yonex does not currently franchise its retail units in India. It normally distributes directly and partners with local distributors and merchants. The company collaborates with these partners to market and distribute its products.

4. VS Retail Franchise:

The Virender Sehwag Retail Franchise is Virender Sehwag's venture into the world of athletic apparel and gear. VS offers reasonably priced, high-quality items that are both comfortable and technically advanced. We sell a variety of athletic apparel, including tracksuits, shorts, t-shirts, and more.

Bats, balls, cricket kits, gloves, gym bags, and more are all available at VS. Our goal is to deliver reasonably priced, high-quality technical athletic apparel and gear.

For more details on the latest sports equipment franchise, how to start a sports franchise in India or stay uptune with the latest in the sports business connect with us at FranchiseBAZAR

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.