Giving community, athletes and businesses the best connectivity imaginable to achieve their goals together.
We are looking to support local businesses who sponsor or want to sponsor athletes. These businesses often struggle to get bang for their buck out of their sponsorships arrangements and we want to make these relationships more valuable. Pain points include matching athlete values with business values, managing sponsorship administrative burden and ensuring that the advertising and local engagement from the sponsorship is maximized and remains fresh and up to date.
The main customer segment we are focusing on is local and small businesses who are already involved in sponsoring athletes. These are great for our market research because we can reach them quickly and help iterate. Longer term a much broader customer segment will be targeted with the benefit of refined customer understanding.
Beyond this there are individual athletes, teams, sporting clubs and the general community all of whom have an interest in supporting athletes and doing so in an effective way.
ABS results show 68.5 per cent of small business operators were male and 31.5 per cent were female. The greatest number of business owners are aged 45 to 54 years old (28.2 per cent), followed by 35 to 44 years old (26.8 per cent), 55 to 59 years old (12.1 per cent) and 25 to 34 years old (14.3 per cent). Less than 10 per cent of business operators are aged over 65 or less than 25 years of age.
Go Fund Me, Facebook and Status Quo are competitors for our market segments. Go fund me already allows individuals including athletes to post initiatives for community support. Facebook allows businesses and athletes to engage and advertise sponsorship arrangements. And the status quo sees athletes working part time, getting help from parents and local businesses sponsoring athletes - but often in a way that is static and slow to update and refresh.
Our venture would improve this by being tailored to sports. Go Fund Me has a focus on helping those that are in need due to adverse conditions whereas athletes are looking for support to be at the top of their game. Facebook mechanisms of sponsorship advertising is not purpose built for linking businesses with athletes but it may be an avenue that our venture capitalized upon. Status quo is a tough competitor but breaking it should be possible by showing a community of athletes getting support, not failing by receiving help and also providing a ready mechanism to enhance training rather than being a complicate detractor.
We would like to see our venture helping as many businesses and communities support athletes as possible. This is obivously a very big market that whilst we aim to start locally in Canberra could scale to global levels.
Canberra based we estimate 100 businesses may be interested in advancing their brand by supporting atheletes and through them the community. Community members will want ot support atheltes as well and this could push into the many thousands.
Customer facing or interacting local business will benefit most from these services and later on a fuller suite of sponsorship support may be made available.
We are Support a Star; connecting businesses with athletes for success is our business.
Businesses are currently missing out on connecting with community through athlete sponsorship because barriers are too high.
We help by matching athletes with businesses that share values.
Take care of the administrative burden and most importantly keep the relationship active.
We will make word of mouth and face to face interaction the primary method of customers find out about our business. We believe that these methods are the most likely way to build and influence community.
The platform will also be online and other channels such as social media posts and paid advertising such as google ads will be tested for reach and success.
We already care greatly about the community. This includes the sporting community with Moe a long term Canberra and International Judo and Crossfit Instructor and recently the Australian National Cadet (U18) Judo Coach. Jonathan is the current Secretary of ACT Judo and volunteers on other communittes and is Co-Chair of CPA Young Professionals and a member of IFAB conference planning committee.
As part of Moe's recent working experience she has had contact with Canberra schools, businesses, Australian Olympic Committee, national sporting bodies and the AIS.
This existing dedication and other business networks that we interact with regular gives us a strong foundation to build a business from.
We would be keen to work with Canberra businesses (and others) to develop our product into a tool that a lot of businesses can benefit from. We see a place for equipment, clothing and services getting factored into our model.
|Trademark||Canary Trade Mark Assistance||$800|
|Upskilling - Training||ANU / CIT Short Courses||$1000|
|Category||Supplier||First Year Cost||Actual Breakdown|
Estimated first year costs
In the early stages Support a Star plans to partner with all of our clients. This means that not only do they get a tailored service but we can diligently refine the product with very specific customers in mind.
This will be intensive in the short term but ideally result in a highly niche product that can demand a higher price and avoid competition from some of the larger but broader players.
Support a Star will enable athletes, community and businesses to achieve their goals together by enabling the best connectivity imaginable and increasing the value of relationships. This could be anything from sponsorship, services or a follower base.
The main form of revenue will be a brokerage style where a percentage (starting at 15%) of sponsorship is taken. For service based sponsoring a subscription fee ($10 a month charged annually) would be applied.