When you think of athletes who own franchises, the first images that might come to mind are intense training sessions, high-stakes games, and the thrill of victory. However, beyond the field, court, or track, many athletes have found success in a different arena: the franchise industry. Their unique skill set, honed through years of competition, makes them exceptionally well-suited for this business venture.
In the world of franchising, success is often determined by a combination of skills and traits that players naturally possess. From discipline to leadership, these qualities give a professional athlete a distinct advantage as a franchise owner.
Let’s explore why professional players excel in this role, with some real-life examples to illustrate these points.
The Winning Formula
The same qualities that drive athletes to victory on the field also propel them to success in business. The strategic business model of franchises appeals to athletes, offering a structured and proven path to success.
Their ability to stay focused, strategize, and lead makes them particularly adept at running franchises. Here’s a closer look at why franchise owner athletes are winning in business.
Discipline and Work Ethics of Athletes
Discipline is a cornerstone of an athlete’s life. From early morning workouts to strict dietary regimens, athletes are no strangers to hard work and routine. Athletes often collaborate with business partners to ensure the success of their franchises. This discipline easily translates into the world of business.
Professional sportspersons who are business owners understand the consistent effort required to maintain standards, manage operations, and ensure customer satisfaction.
Take the case of former NBA star Shaquille O’Neal
Known for his dominance on the basketball court, Shaq has also made a name for himself in the franchise world, owning numerous franchises, including Five Guys and Auntie Anne’s. His discipline and work ethic have been crucial in managing these ventures successfully.
Teamwork and Leadership
Athletes thrive in team settings, where collaboration and communication are key to success. These skills are invaluable in franchise ownership, where leading a team effectively can make or break the business. Professional sportsman understands how to build a cohesive unit, delegate responsibilities, and inspire their employees to perform at their best.
Drew Brees, the former NFL quarterback
He is an excellent example of how leadership on the field can translate to business success. Brees co-owns multiple Jimmy John’s franchises and has invested in several other business ventures.
His strategic collaboration with a key business partner has further amplified his ability to lead and manage teams, making him highly successful in his transition to franchise ownership.
Resilience and Mental Toughness
The path of an athlete is filled with challenges, from injuries to tough losses. This experience fosters resilience and mental toughness, which are crucial traits for any business owner. Athletes who are franchise owners are particularly adept at navigating the challenges that come with business ownership, thanks to their ability to persevere through difficult times.
Venus Williams, a tennis legend and athlete franchise owner.
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Venus has applied her resilience to the business world. She owns several Jamba Juice franchises and has faced the challenges of business with the same determination that has made her a tennis champion.
Some athletes invest in a minority stake in professional sports teams as part of their business ventures. Her ability to bounce back from setbacks has been a key element in her success as a franchise owner.
Sporting Kansas City’s Brand Recognition and Influence
Many sportspersons have built strong personal brands, which can be a significant asset in the franchise world. Their name recognition and influence can attract customers and give their franchises a competitive edge.
Patrick Mahomes, for example, has invested in multiple major sports franchises in Kansas City, including the Kansas City Royals, highlighting his diverse investments in the local sports community. This built-in marketing power is something few other business owners can leverage.
Magic Johnson, a sports icon.
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Johnson has leveraged his brand to build a successful business empire, including numerous franchises like Burger King, including ownership interests in Starbucks (105 locations). He also invests in companies that primarily focus on ethnically diverse and underserved urban communities.
His fame and influence have undoubtedly contributed to the success of these ventures. Similarly, player like Serena Williams and Kevin Durant have invested in Angel City FC, a prominent NWSL team, showcasing the trend of significant investment in women’s soccer.
Financial Resources
Athletes who are franchise owners often have the financial resources to invest in high-quality businesses, allowing them to choose the best opportunities and weather any financial challenges that may arise.
Adrian Gonzalez, who played for the Boston Red Sox.
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He has successfully transitioned to franchise ownership, showcasing a blend of athletic determination and entrepreneurial spirit. This financial stability gives them a significant advantage in the competitive world of franchising.
Strategic Mindset
Sports require strategic thinking and quick decision-making—skills that are also vital in the business world. Players are accustomed to analyzing their opponents, developing game plans, and adjusting strategies on the fly.
These abilities are directly transferable to running a franchise, where market conditions can change rapidly, requiring swift and effective responses.
Michael Jordan, one of the greatest basketball players ever.
MJ has applied his strategic mindset to the business world, becoming a successful owner of several businesses, including a significant stake in the Charlotte Hornets and multiple restaurant franchises.
His strategic thinking on the court has clearly paid dividends in his business ventures. Similarly, Fenway Sports Group’s acquisitions, like the Pittsburgh Penguins, illustrate strategic investments in sports franchises.
Networking and Connections
Throughout their careers, players build extensive networks of contacts, including other athletes, celebrities, and business leaders. The Kansas City Current, a professional sports team, is a prime example of this, with its association with prominent players like Patrick Mahomes highlighting the significance of such connections within the local sports community.
These connections can be invaluable when it comes to business opportunities, partnerships, and marketing efforts. They often leverage these connections to enhance their business ventures.
LeBron James, a basketball superstar.
He is also a savvy businessman. His connections have helped him secure lucrative franchise deals, such as his stake in Blaze Pizza. 4
His network has played a pivotal role in expanding the franchise and increasing its visibility. Similarly, former NFL player Kris Brown has found success with Dunkin’ franchises in Kansas City.
Drive for Success
Athletes are naturally competitive and driven to succeed. Many professional athletes, like Peyton Manning, have transitioned into franchise ownership, with Manning owning several Papa John’s locations.
This drive doesn’t disappear when they retire from sports; instead, it often propels them into new ventures with the same intensity. This relentless pursuit of excellence is a key factor in their success as franchise owners.
Peyton Manning, the legendary NFL quarterback.
He has channeled his competitive spirit into owning several Papa John’s franchises.
So many professional athletes are leveraging their competitive spirit to succeed in franchise ownership. His determination to succeed in business has been as strong as his drive to win on the football field.
Conclusion
Athletes who are franchise owners possess a unique combination of traits—discipline, leadership, resilience, strategic thinking, and a drive for success—that make them ideal business owners.
The dynamics of professional sports teams are similar to those of franchise operations, as both require proven working systems and structured support. Their ability to translate their athletic skills into the business world has led to numerous success stories in franchise ownership.
As more athletes transition from sports to business, it’s clear that they have the tools to thrive in this new arena. Whether it’s through brand recognition, financial resources, or sheer determination, athletes who are franchisees continue to prove that their winning ways extend far beyond the world of sports.
Are you a professional athlete looking to transition into franchise ownership like the greats? Taking that first step is easier with the right guidance. Connect with a franchise consultant who understands your unique needs and can help you explore the best opportunities.