The United Arab Emirates is growing into the world’s premier sports events destination. From athletics, cycling, football, horse racing, mixed martial arts, motorsports, rugby, shooting, tennis, corporate sporting events, tournaments, and more, Dubai is a clear world leader in entertainment and sport.
A sports-crazy nation also means big business. Sports management is at the centre of this industry. If you’re considering starting a sports management company in Dubai, reading this article will help you via these topics:
- An overview of the sports management industry
- Steps to start a sports management company in Dubai, UAE
- Cost of starting a sports management company
- How to grow your sports management company
- Working with Trade License Zone
An overview of the sports management industry
The sports management industry in Dubai is one of the most exciting right now. The Football World Cup, international cricket and rugby fixtures, the Formula 1 championship, the Dakar Rally, and more are all hosted in the UAE. This means that more than a million tourists travel to Dubai to watch their favourite sports stars take on their rivals. However, Dubai’s citizens also love to participate in sports, and the country boasts hundreds of professional athletes and amateur leagues, corporate sports tournaments, teams, trainers and sports business staff.
In terms of economic impact, sports in Dubai generates over AED 2.4 billion annually – and this grows year-on-year thanks to the professionalism and world-class facilities attracting sports professionals, clubs, teams and sports organizations to this Middle Eastern nation.
Foreign nationals starting a sports management company in Dubai can take advantage of the many benefits the UAE has implemented to boost investment. These include a zero-percent tax environment for personal and corporate incomes.
Dubai also boasts a high standard of living, a world-class infrastructure of roads, sea ports and airports, diverse business categories, first-rate employees, brands, amenities, entertainment, and more. The country is the gateway to the Middle East, linking North Africa and Europe. Dubai Airport offers direct flights to over 90 countries.
Steps to start a sports management company in Dubai, UAE
Follow these five essential steps to get a valid sports management business license in Dubai.
Step 1: Partner with Trade License Zone
The first step in starting a sports management company in Dubai is to partner with Trade License Zone. Our professional team will manage all aspects of your business registration, license application, and setup process to guide you through all the documentation required for the various UAE government authorities and Dubai Municipality approvals so you can begin trading as soon as possible.
Step 2: Choose your company name
Trade License Zone will help you choose and register your sports management company’s name with the UAE’s Registry Office. The business name must adhere to the UAE’s naming policies, and it must not include offensive or profane language or references to Allah or Islam. You can use your name in the company name, but you must use it in full, not surname alone or initials.
Step 3: Select your business activities
Every company in the UAE must choose their business activities for their trade license application to operate legally in Dubai. Your license enables you to carry out several business activities – but only those listed on your business license.
You can select the appropriate business activities you wish to pursue in Dubai from an extensive list of more than 2,000 on Dubai’s Department of Economic Development (DED) website. Failure to list all your business activities on your trading license may result in penalties. Partnering with a company formation expert such as Trade License Zone will ensure that your license application and business activities are aligned.
Step 4: Select a business jurisdiction
The next decision to make is choosing whether to set up your sports management business on the mainland or in one of the UAE’s 40-plus free zones. Each type has specific benefits and regulations. If you’re unsure which type is best for your business, don’t hesitate to contact the Trade License Zone office for advice, guidance, and support.
Free zone companies are the most popular and cost-effective of the two types of business jurisdictions.
Step 5: Apply for your trade license
The final step in starting a sports management company is completing the license application. You can submit the documents to the Department of Economic Development (DED) or the free zone where you have registered your business. For this critical step, Trade License Zone can help you streamline this process to avoid any errors or mistakes and avoid delays.
Cost of starting a sports management company
The cost of starting a sports management company is AED 10,000 to AED 50,000. There are many factors to consider when calculating this cost, including premises, staff, marketing, trade license costs, Dubai municipality fees, and more.
The trade license costs between AED 10,000 to AED 20,000. For an accurate figure, please contact Trade License Zone for a free quotation.
How to grow your sports management company
Once you’ve launched your sports management company in Dubai, growing it into a successful and sustainable business requires sweat and hard work – just like on the pitch. Here are three tips to help you:
Tip 1: Market Research
No matter the type of business you start, market research is vital to its success and longevity. Market research means deep-diving into the industry to learn what the most successful companies did to grow from a startup stage, what social media practices to follow, testing services and products, and engaging users to understand what they demand and require from a sports management company.
Tip 2: Ace your Social Media Game
Mastering social media – across all social channels – requires a lot of hard work. Your efforts will elevate your sports management company’s profile in Dubai from startup to success. You must engage your followers and potential customers on social media, showcasing your services and products. There are several strategies you can utilize for growing a social media following, but the one to master is turning those followers into customers for life. Consistent, informational and entertaining content is a sure winner.
Tip 3: Involve the Community
Do you have a local school or public sports field nearby? Attend their events, interact with coaches, sports administrators, and parents and invite them to train with you, using your products or services. You can host a free clinic on your specialist sporting code, attracting potential customers for your sports management business.
Working with Trade License Zone
Business setup in the UAE is streamlined with an expert partner such as Trade License Zone. When starting a business in Dubai, applying for a trade license and setting up the business can be tricky. Partnering with Trade License Zone will save you from unnecessary delays or rejections.
Our specialists can get started once you provide us with some basic documentation and a little information about the nature of your company and business activities. Then, just sit back and let our team take care of the rest. We’ll manage your trade license and visa applications, communicate with all relevant local departments and authorities, and report when you’re ready to trade. It really is that simple.