How to Start an NBA Franchise
NBA franchise is not as readily available as common franchises in the market as they are rarely available and undergo a bidding war as soon as stocks appear on the market.
NBA is more out of reach compared to other franchises available and therefore requires a higher investment plan and financial standing.
This type of franchise is not for those with a limited amount of capital for franchise as the bidding of the NBA franchise ranges from an initial 300 Million US dollars to up to 600 Million US dollars.
To apply for this type of franchise it is important to remember that one should at least be well versed with the basics of management and finance. Another important factor is passion for basketball. The whole franchise revolves around the game and the success of the franchise is dependent upon it, therefore it would be wise to brush up on your basketball skills and knowledge before engaging in such a franchise. There is a huge amount of money at stake in this kind of rare investment franchise, therefore it will be wise to utilize it to its full extent and make sure it reaches success. You may be lucky enough to apply for financial aid or loans but this is rare considering the amount involved in making a bid for the franchise. Therefore make every penny count and brush up on those skills.
There are several ways to go about educating yourself before application to the franchise. First you may consider attending seminars or workshops to get hands on experience on what it is like to handle these kinds of investments and establish a firm knowledge on the game of basketball. Considering that you may very well become a NBA franchise owner, it is wise to know that knowledge and experience with regards to the ins and outs of the basketball game are crucial to your success as the entire franchise revolves around this fact.
The NBA franchise utilizes a unique and effective business model that no longer requires huge sums of initial financial investments to make the cut. The Basketball Association of America was founded originally in 1946 with 11 franchises namely the Washington Capitols, Detroit Falcons, Chicago Stags, Boston Celtics, Cleveland Rebels, St. Louis Bombers, New York Knickerbockers, Toronto Huskies, Pittsburgh Ironmen, Philadelphia Warriors, and Providence Steamrollers. It has since garnered several more franchises throughout the years of its existence and every franchise has its own specific market value depending on the team, its players, the area they represent and their duration within the NBA. Considering this you should also bear in mind that there are many options to consider when starting an NBA franchise and you may decide on the type of franchise you prefer depending on the interest you possess as well as the funds you have available on hand to bid for them.
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Occupation: Student @ The College Of The Bahamas
Question: I've had ideas and aspirations of becoming a franchise owner and having a Basketball franchise here in the Carribean. What's your take on it? I think it would be great for the Carribean.. My major is Economics and Finance but i can always take a Management course to better assist me in pursuing my goal. Basketball is my passion as well so that's a plus as well.