24A Venture Concept No. 1

With my business plan, student-athletes at the collegiate level will be able to receive endorsement deals for their image, name, and likeliness. The opportunity and innovation would be that these student-athletes have the right to receive the money that are being made for their talent. In order for them to receive this amount of money, they have to go through some type of management class that will show them how to manage their money properly throughout their college years. Each athlete will be responsible for putting certain amount of money away so they have some after they finish their collegiate career.

Opportunity

This opportunity has been a topic for the NCAA for years. NCAA athletes have been used for their talents to gain satisfaction of the audience. Every year, there are reports of athletes borrowing money in their previous years in order to have some type of money throughout the year. Yes, each student-athletes receives food, clothes, and brand new jerseys from their institution. But that doesn't mean they have the money to survive throughout the school year. Even though some of these athletes may be on a full scholarship, most of them aren't. A standard football team varies from 45 to 65 athletes and from my realization, each Division I football program can hand out 25 scholarships whether they are full or partial. With the opportunity that the athletes are able to make some type of money through their athletic years at the collegiate level, they will have money throughout their four years and they will have money after they finish as well. This would be a major step for the NCAA. This "window of opportunity" will constantly be open and I don't think it is going to shut at any time. There will constantly be talk about this until it comes to a conclusion.

Innovation

The innovation for this type of opportunity will be all over the nation. It is an opportunity for college athletes at the Division I level to make money for the image, name, and likeliness. What would be happening is that the big name brands, such as Nike, Adidas, Under Armor or Puma, can sponsor these selected athletes based on them wearing their merchandise. If Nike wants the best player from Stanford to wear their shoes for a game, they will wear those shoes and receive a certain amount of money for advertising them. It can only work for that brand and athlete if the school signed a deal with that certain brand. The amount of money is going to be based on how much the brands want to offer the athletes.

Venture Concept

The opportunity will be addressing athletes who are being used for their talents and are not getting any compensation for it. The customers that would want to buy in this type of opportunities believe that these athletes deserve what they are working for. They are playing a sport that they love but it feels like a job to them. If they are going to be doing this full time, then the customers would have to believe that they are going to buy in to a good opportunity for young athletes.