Starting a new sport can be an exciting endeavor. It can also be profitable if you can capitalize on its success. Conducting a survey of consumers prior to investing a lot of money developing a sport is a good idea. You should ask people their opinions about the concept and whether it would interest them.
Conceive an idea for a new sport. If you want to make money from your sport, determine if you would pay money to watch the sport or if you would want to watch the sport on television.
Envision the basic premise or the sport’s purpose and how to achieve it. Determine the basics such as how many players are required to play, time constraints (if any), scoring system, how to score points, what the fouls or penalties should be, goal posts or nets, if it will be a contact sport, the use of teams, the type of umpires or referees needed, number of games in a season, prize money (if applicable) and the equipment that is required.
Prepare a rule book.
Test your new sport with any people who are willing to try it out. You may encounter problems while trying the sport out. Revise your rule book to work out the kinks. Then try playing your sport again with the revised rules.
Start your league or association using a catchy name and trademark. It may be wise to incorporate your league or association. If your sport requires team competition, you should work on getting team owners or managers, as well as participants.
Promote your sport. If you are starting a league or tournament, prepare a business plan explaining the business side of the sport and feasibility. Be sure to include financial statements.
Negotiate to obtain a radio and/or television broadcasting contract with sports channels such as ESPN. You may need to hire an advertising and media specialist, public relations person or publicist to do this.