Recently, we've been learning about and practicing our elevator pitches in my entrepreneur class. The teacher sent someone to film them the other day. Obviously, I did mine on the company I've been helping in the start up phase, V3 Fights, a mixed martial arts event production company.
Here's my elevator pitch: https://elearn.memphis.edu/d2l/common/viewFile.d2lfile/Database/ODY0MDA4Ng/Kaegi.wmv?ou=6638
Tuesday, December 1, 2009
Bringing MMA to Campus
V3 Fights recently held an event at Newby's on Highland Avenue, next to the University of Memphis campus. It was a very successful event, nearly a sell out. The main draw was, as usual, the main event of the night. But it was even more special at this event because the main event featured a U of M student, Tim Galluzzi. And wouldn't you know it, before a packed house of his peers, he won in a great fight.
Leading up to the fight, I wrote a press release about the student's involvement in the match, my colleague and V3 Fights founder and president, Nick Harmeier submitted the release to the editor of the Daily Helmsman, the school paper for U of M. They were so interested in the event, they wrote a two page story called CroMag and Chaos Cagefight Tonight. Click the following link to read the story.
http://media.www.dailyhelmsman.com/media/storage/paper875/news/2009/11/05/Sports/CroMag.And.Chaos.Cagefight.Tonight-3823962.shtml
Leading up to the fight, I wrote a press release about the student's involvement in the match, my colleague and V3 Fights founder and president, Nick Harmeier submitted the release to the editor of the Daily Helmsman, the school paper for U of M. They were so interested in the event, they wrote a two page story called CroMag and Chaos Cagefight Tonight. Click the following link to read the story.
http://media.www.dailyhelmsman.com/media/storage/paper875/news/2009/11/05/Sports/CroMag.And.Chaos.Cagefight.Tonight-3823962.shtml
Tuesday, October 20, 2009
The Market - Top MMA Gyms in the Region, Fans
Knowing your market is key to success in any business venture. Producing MMA events is no exception.
There is a primary market for MMA events and a secondary market. The primary market is amateur fighters and the gyms that train them. These fighters will pay money for the opportunity to fight at your events. The secondary market is fans. Fans most often are friends or family of one of the fighters, but also can be a fan of the sport with no connections to any fighter. Fans of the sport will pay to watch the events and also spend money on merchandise once inside the event.
The MMA training facilities in the region are going to play a very important role in the events a company produces. Solid MMA gyms produce quality fighters. Quality fighters make for exciting fights and more interest and attendance. That is why the fighters are the primary market, even though you generate much more revenue from the fans. If the fighters are not sold on the event you are producing, the fans will not come to watch.
In the Mid-South area, there are many quality MMA training facilities. Here is a list of some of them.
Team Damage from Collierville
Memphis Brazilian Jiu-Jitsu in Bartlett
Mullens Karate and Kickboxing in Memphis
The Fight Clinic in Olive Branch, MS
Germantown Brazilian Jiu-Jitsu out of Germantown Baptist Church
CTC in West Memphis
American Top Team in Missouri
If you can produce events that teams like these will want to fight in, you will have a much better chance to grow your event company.
There is a primary market for MMA events and a secondary market. The primary market is amateur fighters and the gyms that train them. These fighters will pay money for the opportunity to fight at your events. The secondary market is fans. Fans most often are friends or family of one of the fighters, but also can be a fan of the sport with no connections to any fighter. Fans of the sport will pay to watch the events and also spend money on merchandise once inside the event.
The MMA training facilities in the region are going to play a very important role in the events a company produces. Solid MMA gyms produce quality fighters. Quality fighters make for exciting fights and more interest and attendance. That is why the fighters are the primary market, even though you generate much more revenue from the fans. If the fighters are not sold on the event you are producing, the fans will not come to watch.
In the Mid-South area, there are many quality MMA training facilities. Here is a list of some of them.
Team Damage from Collierville
Memphis Brazilian Jiu-Jitsu in Bartlett
Mullens Karate and Kickboxing in Memphis
The Fight Clinic in Olive Branch, MS
Germantown Brazilian Jiu-Jitsu out of Germantown Baptist Church
CTC in West Memphis
American Top Team in Missouri
If you can produce events that teams like these will want to fight in, you will have a much better chance to grow your event company.
Wednesday, September 9, 2009
MMA Events: The time is now
Mixed martial arts is quickly becoming one of the most popular and lucrative sports in the world. This is evident in nearly every form of media currently being employed. MMA related clothing lines are all the rage among its young audience. Participants and fans blog endlessly about fighters and flood social media sites with news and opinions. Even the big screen is not immune to the fad, with successful movies like the David Mamet drama "Redbelt". What was once a lesser know sport has now eclipsed boxing and wrestling as the #1 combat based entertainment source. And for that reason, I think now is the time to capitalize on it.
I can tell you confidently that the sport is not going anywhere. Instead it is spreading around the globe. MMA event companies are popping up in many markets around the country these days, in response to the growing demand to watch the sport live. California is leading the way in terms of number of companies, but ample opportunity still exists in the south as there is not a definitive leader in the industry in this region.
In this blog, I will focus on the growing sport of MMA, an industry in which I feel there is ample room for entrepreneurship. As the sport grows in popularity, more training facilities will train athletes in this discipline. These athletes will seek out competitions in which to compete. Friends and family will attend fights to support their fighters. There is going to be a lot of money made, and the time to start is now.
Much like a fighter in the ring, I think a strong, cunning personality is needed to succeed in starting a successful MMA event company. Being the first to capitalize on the opportunities presented can help a fighter defeat his/her foe, and it can also help a start-up gain competitive advantage on followers.
There are certainly ways to fail in this venture, as in any other. Capital must be raised to purchase the cage and store it. Partnerships with venues and fighting organizations must be formed. Insurance for the fight is an incredibly challenging issue, as the potential for injury is ever present. The company needs to have representation from a law firm, emergency plans, public relations, and statements prepared in case of emergency. These issues must be addressed to achieve success and avoid pitfalls.
I can tell you confidently that the sport is not going anywhere. Instead it is spreading around the globe. MMA event companies are popping up in many markets around the country these days, in response to the growing demand to watch the sport live. California is leading the way in terms of number of companies, but ample opportunity still exists in the south as there is not a definitive leader in the industry in this region.
In this blog, I will focus on the growing sport of MMA, an industry in which I feel there is ample room for entrepreneurship. As the sport grows in popularity, more training facilities will train athletes in this discipline. These athletes will seek out competitions in which to compete. Friends and family will attend fights to support their fighters. There is going to be a lot of money made, and the time to start is now.
Much like a fighter in the ring, I think a strong, cunning personality is needed to succeed in starting a successful MMA event company. Being the first to capitalize on the opportunities presented can help a fighter defeat his/her foe, and it can also help a start-up gain competitive advantage on followers.
There are certainly ways to fail in this venture, as in any other. Capital must be raised to purchase the cage and store it. Partnerships with venues and fighting organizations must be formed. Insurance for the fight is an incredibly challenging issue, as the potential for injury is ever present. The company needs to have representation from a law firm, emergency plans, public relations, and statements prepared in case of emergency. These issues must be addressed to achieve success and avoid pitfalls.
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