How to profit BIG with pickleball

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Happy Friday Eve! Here’s the docket for today:

• 🏓  The Topgolf for Pickleball

• 😂 Meme of the day

To the 127 new readers since my last email - Welcome to the WAW fam! 😊 We’re over 35k strong. Let’s get it 💪 

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THE TOPGOLF FOR PICKLEBALL

A few months ago my friend invited me to play pickleball. If you're wondering if I've ever swung a paddle before, the answer is a big, fat NO.

I had obviously heard of the game since everyone and their mother (37M people) are playing but I had never actually picked up the paddle.

Lucky for me, my friend asked to play at 6 a.m. 😅 

Fast forward a couple of hours, and to my surprise:

1. I was actually quite good

2. It was A LOT of fun

I drank the Kool-aid, and it was great.

By the time I left, the courts were full and it was only 8 a.m.

So on my drive back I got to thinking. Is there a way to capitalize on this movement?

That’s when it hit me "TopGolf for Pickleball”

Hear me out. The sport saw an 85% increase in players in just one year. Add to that 25,000 new courts being built to keep up with demand and it looks like Pickleball is growing faster than my obsession with binge watching Suits when I should be asleep.

I dug around and found that someone is starting a similar venture for basketball in Atlanta called Jumpshot.

If you’ve never been to a TopGolf it looks like this:

It’s a place where friends hang out, whack golf balls, and just have a good time. It's less about the golf and more about the fun.

And boy do they crush it. In 2022, TopGolf made $158M in profit!

Do the same thing but for pickleball. People are already dishing out $250 on new pickleball paddles. They would 100% be down to come socialize and play in a larger setting.

Here's what I’d do to make money from this idea

#1: Offer diverse gameplay options

If there’s one thing I’ve learned through all of this it’s that pickleball players are ultra competitive.

Don’t only provide regular gameplay. Make it more exciting.

I’m talking:

• Ball speed competitions - who can hit it the fastest?

• Ball accuracy - special targets on your court. When players hit these, they get extra points

• Random competitive pairings - force people to meet new friends and provide prizes to winning teams

• Have a big leaderboard showing the top players/teams each week. Everyone will want to see their names up there!

How you’ll make money:

• Charge a fee to enter the venue

• Charge players to join tournaments - offer prize money and take 10% of every tournament pool

• Get local businesses to sponsor prizes and partner with them for advertising in your venue

• Charge by the hour, like Topgolf

#2: Include food and drinks

Although TopGolf doesn’t specifically break out its revenues.. reports indicate that TopGolf generates about half its revenue from food and drinks sales.

That would be ~$80M in profit. This will be a big revenue driver.

The secret to TopGolf’s massive success is their family approach and nightlife options that draw a diverse crowd.

Nearly half of TopGolf guests describe themselves as “non-golfers”, showing its appeal beyond the nation's 25 million golfers.

Partner with local food vendors. They get to promote their business, players get a taste of the town, and you get a commission.

Or charge vendors a fee for setting up their stalls at your venue.

#3: Host social nights

Organize nights where players can socialize. Perhaps a “Doubles Night”, where players can pair up randomly and compete against each other.

You could sell tickets for special event nights or offer special packages that include food and drinks at a discount.

#4: Membership packages 

Offer monthly or yearly memberships that provide players with perks like:

• Discounted court fees

• Priority booking

• Free participation in certain events

#5: Private lessons 

A lot of people want to play pickleball but don’t want to be the worst player on the court.

Just like with any sport, offer lessons for beginners and charge per session. Partner with experienced players or trainers and take a cut of the revenue.

On average, a private pickleball lesson costs between $50-$100 per hour. 

The bottom line…

This is a larger scale business (meaning you’ll need more money) but it will absolutely crush it if you open in the right area.

“There is a lot of capital in the world, and it’s looking for a home.”

If you pitch an investor why this would work and why you’re the person to do it with you just may get more investments than you think.

And if you think I’m lying just listen to this podcast about how this woman had no money and bought a $20M egg carton business.

Lastly, I’ll leave you with some insights.

The most obsessed states with pickleball aka where you should be setting up shop are:

• Colorado

• Massachusetts 

• Florida

• Hawaii

• Virginia

• New York 

(but any big city will do)

And that’s all I had for you. As always, reach out if you have any questions - I always respond! See you bright and early next Tuesday!

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That's a wrap ladies & gents!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.