Everything You Must Know To Start a Sports Management Company in the UAE
Sport and sport events is a large industry by itself worth over 400 billion USD. And every year, this industry is only growing thanks to increasing sports fanatics across football, cricket and several other sports.
The UAE and particularly Dubai itself host multiple sporting events yearly. Large footfalls are seen every year for events such as the Grand Prix and Tennis World Championships among others.
Many have noticed this growing trend in the sports segment and have successfully tapped its potential by specialising in sports management. However, the scope is still very vast and is a lucrative business if you are passionate.
Keep reading as we’ve compiled a set of steps that you’ll need to follow to start your own sports management firm in the UAE!
Step 1: Your Business Plan
To imagine is the first step to bring your dreams to life. To begin your business, you must first be very specific on which niche you wish to specialise. Sports management is just as vast as the realm of world sports. And, too much on your plate to begin with can make it very chaotic. So, pick your sport and sector of interest and then build your business plan on it.
Further, based on your business plan decide on the ideal location for your business. Now, different locations in Dubai have their own distinct perks. So, make your pick between the mainland and the free zones. Business in the free zone is usually the most cost effective for a startup!
Step 2: Giving Your Business a Name
With your business name will come your brand’s identity. Thus, make sure you put a lot of thought while choosing your business name. Moreover, pay attention to avoid any offensive abbreviations or terms. Seek advice from local linguists to make your brand name more local to the community. Finally, decide on a name that aligns with your brand’s personality and the services you are offering.
Step 3: Getting Your Business License Ready
Your trade license is the most important piece of paperwork you will need when you run a business in the UAE. The Department of Economic Development (DED), Dubai will overlook all your processing for the same.
In recent times, getting a trade license has been simplified greatly with online applications. So, fill out the form, keep your necessary documents ready and get the trade license that suits your business the best!
Step 4: Visa Processing and Other Formalities
If you are an expatriate, living and working in the UAE will require having a visa. The UAE offers many kinds of visa depending on the duration and purpose of your stay in the UAE. However, visa processing can get tiresome at times. Thus, keep your documents ready well in advance to avoid any last minute hastles!
Besides, with the perfect visa, you can also sponsor your spouse or family members to live with you in the UAE!
To sum up, think of an actionable plan, decide on your ideal business name and location, get all paperwork sorted and jump into business on getting your required approvals!
Now is the Best Time to Start Your Sports Management Company
Setting up any business takes effort. But with a sports management company in Dubai, all the effort is more than worth it. You will have the freedom to choose your desired kind of clients and sport. Moreover, with sports management there’s never a dull moment as you’ll keep learning and understanding new trends in business. And the best reason to start now is the enormous potential to grow in this field! Besides, if you start early you can get an advantage and begin to monetize on it sooner!
So, what are you waiting for? Get, set go! And, well if you face any troubles, we have a team of experts at Marqueway to guide you through and help you make it big!