Insightful Planning Of The Business Model For Sports Academy App

All the way we see many campaigning going on around with the flags of digitization, but what MEASURES DO THEY TAKE TO FOSTER THEIR BELIEF?

Well, we do! As a result of our restlessness with the brick and mortar functioning of the industries and clichéd clone businesses, we push our thought process harder and harder into meeting necessity with innovation.

The result – Virgin App Concept it is!

Focusing on one such plight of a physical business that is sports academy, we came up with an innovative virgin app concept to accelerate the sports academy’s manual process with digitization.

Read the complete virgin application concept here.

Now that you know how the app will be, the next important aspect that you should be knowing is the business model for sports academy app and the revenue generating sources.

Commission-based Revenue Model

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Commission-based revenue model is the most popular business model and revenue model as it connects the demand and the supply dot to dot. The earning percentage in some of the businesses is very insignificant but the service requests are in big numbers and this is how the business slowly and steadily becomes a big business.

How Should the Working of the App Be:

In commission based business model for sports academy app, the stakeholders can be:

· The Students

· The Sports Academies

· The Admin

The sports academies are listed under the application and the admin manages them all. There is a separate login for the students and the sports academies.

The student searches for the academy, type of sport and gets a list of various sports academies. When he views a sports academy in the app, he can access the complete information about the coaches, the timings, the sports, supported with medias and videos.

The sports academies list themselves to the platform and provide complete information about their operation along with the prices. The students can book their time slot for a particular sport from the platform along with the preferred coach/ trainer.

Now comes the admin’s role. He charges the service fee from the student and the transaction fee from the academy owner. This is how the commission becomes his mainstream earning.

Important Features that Can Earn Revenue:

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· Login/ Registration/ Signup:

There should be separate login, signup, registration process for the students and the sports academies. The integration of the social media account login can be done for the ease of registration.

· Dashboards:

The students and the sports academy owners will have their own dashboard which they can customize on their own.

· Listing of Sports Academies:

After creating an account, the sports academies will have to fill out all the information embracing about their offerings, sports they coach, number of trainers, and the time-slot availabilities in real-time.

· Listing of Sports:

The academies can list out all the sports they offer and can even cross-sell the sports gear, equipment to which the payment has to be directed from the platform and opening the admin a new ways to earn.

· Time-slot Availability in Real-time:

Since the batches to be booked by the student will be highly based on the time preferences, it is imperative to display the real-time availability of the time slots for all the sports and the coaches.

· Booking:

The students will be able to book the sport they want with their preferred time-slot, coach, and academy.

· Invoice Generation:

Once the payment is made by the students, an invoice is generated for the coach, the student, and the academy owner with all the relevant information.

· Featured Academies:

The sports academies can get themselves listed in a special list by paying a featured fee.

· Filters and Categories:

The students can filter their preferred sports or time slots and get relevant search results.

· Payment Gateway Integration:

The platform provides multiple payment options – net banking, debit card, credit card, e-wallets, to pay for the service.

Key Takeaways
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· When planning for a commission-based revenue model, contact sharing can be an issue as sports academies are for long-terms. What you can do is, mask the contact of the student till the payment is made for the academies.

· The operation of the mobile application should be static – only the students can search for the sports academies and not otherwise.

· When listing out the information about the trainers/ coaches, the platform should mask their contact details.

Examples of the Successful Commission-based Business:

1. Uber  2. Airbnb

Membership Plans/ Premium Model
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In membership plans, the customers pay to become a long-term member with the platform for a certain amount of fees. These membership fees vary if the customer opts in for a longer duration, he can considerably save some amount.

How Should the Working of the App Be:

When the membership model is considered, the entire focus is only on the sports academy owners. The students get to browse for the academies for free, however the sports officials have to take the membership plans followed by a trial period. They get to search for the prospects, talk to them, and convert them into leads with the help of the platform.

Features that Can Earn Revenue:

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· Signup, Login, Registration:

The academy owners will sign up to the platform by completing the form and will pay subscribe for the membership plans with their credit/ debit card details.

· Trial:

Trial duration is the time duration for which the sports academy owners get to try the service at no cost. After the trial duration gets over, the sports academy owners are charged with the standard membership plans.

· Payment Data Storage:

The payment data storage securely keeps the credit card/ debit card details along with the other details, so that at the time of the renewal of the membership plans, the sports academy owner’s account gets renewed from that data integrated with the payment integrated.

· Switch Membership Plan:

In case, when the sports academy owners want to switch to another membership plan, they can do it by switching the membership plans.

· Automatic Payment Cycle:

The automatic payment cycle means when the membership duration is exhausted, the sports academy owner’s account gets automatically renewed with the help of the payment data stored. The stakeholders can view their membership period with the automatic payment cycle.

· Invoice Generation:

When the membership plan gets renewed, an invoice is generated notifying the new duration along with the other relevant details.

· Search Candidates:

The app will have an on-site search engine to help the sports academy owners find their targeted candidates.

· Contact Candidates:

After the sports academy finds out the relevant candidates, they can contact them from the platform.

· Chat Integration:

The sports academy marketers can chat with the candidates to solve all the inquiries and convert these leads into customers.

Key Takeaways
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· Your membership plans should be strategized such that your customers readily signup for the membership plan with the longest time commitment.

· Make a move and during the trial period itself try to convert your leads into your members. Incorporate the best features, great UI/ UX features, and help the sports academy owners to reach to their targets.

Examples of the Successful membership-based Business:

Netflix

Subscription Plans
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The businesses that operate online create subscription models that require their customers to sign up for their automatic payment plans and they can even charge a cancellation fee for a contract that ends prior to the pre-set time duration.

How Should the Working of the App Be:

In the subscription-based business model for sports academy app,  will have the most viable features in limited numbers and then on subscription to the premium account, the sports academy owners can have an access to the premium accounts. They will have a free registration/ sign up just like the students, however, the sports academy owners will be at the paying end for the subscription model.

Features that Can Earn Revenue:

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· Login/ Registration/ Signup:

Sports academy owners and the students will have their different sign ups and registration. This registration/ sign up will be free for the students and the academy owners. Both the stakeholders will be able to use the application for free at first.

· Search:

The sports academy owners will be able to search for the students looking to enroll from the on-app page.

· Filters and Categories:

In order to get the most relevant search results, the app offers the academy heads with the filters and categories.

· Ad Blocking:

On subscription, the academy owners will be able to view an ad-free content.

· Get Leads:

The sports academy owners will be able to get the leads when they have subscribed to the premium plan.

· View All Inquiries:

The sports academy owners will be able to view all the inquiries when they subscribe to the premium plan.

· Contact Lead:

All the time the contact of the students is masked but on subscription, the sports academies will be able to access their contact details.

Key Takeaways
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· Subscription model is such that the users pay for the premium features, however, even if they do not subscribe, they continue to use the basic version. So, when you set out to plan your features, make sure that you create it in such a way that it creates an urge among the users to subscribe for the features.

· You can limit the usage of a certain feature and can then, in the subscription model to increase the usability of the feature. For eg, in Tinder the users have got only 1 superlike a day, but with the subscription model, they can access to 5 superlikes a day.

Examples of the Successful Subscription plan-based Business::

Tinder

My Verdict: A Mixed Revenue Model
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What if you can have all the business models earning you simultaneously all this while?

Yes, it is possible.

Keep reading and you will know.

In the mixed revenue model, the admin gets to incorporate a slice of every different revenue sources and earn out of it. The commission model here becomes the base of the revenue model, however ads, listings, memberships, and subscription plans also add significantly to the business’ digital earning.

How Should the Working of the App Be:

The commission model will be the basic plan of business model for sports academy app. The front stakeholders will be sports academy owners and the students. Both of them will be managed by the admin of the app. Both the student and the academy owners will be able to search each other on the platform with the help of the search and filter categories.

Features that Can Earn Revenue:

————–
· Login/ Registration/ Signup:

There should be separate login, SignUp, the registration process for the students and the sports academies. The integration of the social media account login can be done for the ease of registration

· Dashboards:

The students and the sports academy owners will have their own dashboard which they can customize on their own.

· Listing of Sports Academies:

After creating an account, the sports academies will have to fill out all the information embracing about their offerings, sports they coach, number of trainers, and the time-slot availabilities in real-time.

· Listing of Sports:

The academies can list out all the sports they offer and can even cross-sell the sports gear, equipments to which the payment has to be directed from the platform and opening the admin a new ways to earn

· Time-slot Availability in Real-time:

Since the batches to be booked by the student will be highly based on the time preferences, it is imperative to display the real-time availability of the time slots for all the sports and the coaches.

· Booking:

The students will be able to book the sport they want with their preferred time-slot, coach, and academy.

· Invoice Generation:

Once the payment is made by the students, an invoice is generated for the coach, the student, and the academy owner with all the relevant information.

· Featured Academies:

The sports academies can get themselves listed in a special list by paying a featured fee.

· Filters and Categories:

The students can filter their preferred sports or time slots and get relevant search results.

· Payment Gateway Integration:

The platform provides multiple payment options – net banking, debit card, credit card, e-wallets, to pay for the service.

· Trial Duration:

The trial duration is the time duration for which the sports academy owners get to try the service at no cost. After the trial duration gets over, the sports academy owners are charged with the standard membership plans.

· Payment Data Storage:

The payment data storage securely keeps the credit card/ debit card details along with the other details, so that at the time of the renewal of the membership plans, the sports academy owner’s account gets renewed from that data integrated with the payment integrated.

· Switch Membership Plan:

In case, when the sports academy owners want to switch to another membership plan, they can do it by switching the membership plans.

· Automatic Payment Cycle:

The automatic payment cycle means when the membership duration is exhausted, the sports academy owner’s account gets automatically renewed with the help of the payment data stored. The stakeholders can view their membership period with the automatic payment cycle.

· Ad:

Subscription, the academy owners will be able to view an ad-free content.

· Get:

Sports academy owners will be able to get the leads when they have subscribed to the premium plan.

· View All Inquiries:

The sports academy owners will be able to view all the inquiries when they subscribe to the premium plan.

· Contact:

The time the contact of the students is masked but on subscription, the sports academies will be able to access their contact details.

Key Takeaways
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· When you start with the app, do not launch it with all the revenue models altogether.

· Make sure to start with the commission-based revenue model. This is because the front stakeholders will find it very annoying to see all the money-drifting aspects and less offerings.

While planning to launch, consider the sequence::

1. Commission Model 2. Subscription Model