Cashing in on a major sporting event like the Rugby World Cup can be lucrative if you are creative, plan carefully, and comply with ethical and legal guidelines.
And although this huge international sporting event has already kicked off, there is still time to tackle some money-making opportunities as it progresses.
In addition, the Cricket World Cup is just around the corner so there is double the opportunity to get clever and score financially.
Some business ideas may take a little more effort and initial cash outlay than others, but this does not mean that you don’t already have the skills to start now or could not at least prepare for future big sporting events.
Here are a few strategies that entrepreneurs can consider:
1. Merchandise and apparel
If you are in the apparel printing business, even just a small work-from-home sideline hustle, you could design and sell Rugby World Cup-themed merchandise such as t-shirts, Springbok jerseys, caps, and other fan gear. You just need to ensure your designs don't infringe on any copyrights or trademarks related to the event.
2. Viewing parties
If you have the space at home or even access to a local community area, you could organise viewing parties and charge entry fees or sell tickets. You could even hire a private function venue that is able to provide a big-screen TV or projector and just price the tickets right in order to make a profit. Alternatively, you could partner with local bars or restaurants to host the events and split the revenue.
3. Travel packages
If you are in the travel and tourism industry you could create travel packages for fans who want to attend the Rugby World Cup in person. This could include ticket sales, transportation, accommodation, and guided tours. The 2023 Cricket World Cup takes place in India next month, so if you have the experience and contacts to start this business venture now, it may be a good idea.
4. Food and beverages
If you are a baker or caterer, offer a few rugby-themed food and beverages at your restaurant or catering service during the event. You will find that people will be interested in ordering certain snacks and food platters for their rugby viewing parties so if yours are specifically themed for the World Cup then that will be a quirky and unique addition to their menu.
5. Online content creation
If you have skills such as website design, writing, or content creation, you could start a blog, YouTube channel, or social media account specifically focused on Rugby World Cup updates, analysis, and fan engagement. You can then monetize your content through ads, sponsorships, or merchandise sales.
6. Event promotion
If you already have a website or large social media following, why not consider promoting Rugby World Cup-related events and activities on these platforms? You could also use affiliate marketing to earn commissions by driving ticket sales to official vendors.
7. Technology and apps
For those who are technically skilled with mobile app design, you could create an app for fans to track live scores, schedules, and team statistics during the tournament. To earn money from this venture, offer in-app advertising or premium features for revenue. Granted, it may be too late to start on this idea now, but depending on your capabilities you could do it for the Cricket World Cup or other future sporting events.
Compliance and legal considerations with Rugby World Cup merchandise
As with any successful venture, there needs to be thorough market research, an understanding of your target audience, and effective marketing strategies. Respecting the event's integrity and not infringing on its trademarks or copyrights is crucial to avoid legal troubles. Always check with legal professionals if you have any doubts regarding your business ideas related to the Rugby World Cup or any major sporting event.
IOL Business