Profitable sports ventures

BUSINESS BITS
Karmina de Ungria

With a fitness wave sweeping the country, a group of sporting enthusiasts have parlayed their skills into a profitable venture.

As the worldwide economy falters and household budgets shrink, there is now an increased focus on maintaining good health and overall wellness among consumers. The nagging reality is: hospital bills are expensive, and the maxim 'an ounce of prevention is better than a pound of cure' seems to be leading to a resurgence of sporting activity in the Philippines.

This noticeable shift is manifested by the mushrooming of fitness clubs and associated sporting events in recent years. Now, even corporations are starting to realize that a good, well attended, fitness centered event is fast becoming a viable way of generating buzz for their products and services. As a result, events organizers, long relegated to setting up booths and corporate shows in swanky hotels are pouncing on the opportunity to get down and dirty to bag a sale.

For Elite-Multi Sport Resources (EMR), a company that specializes in outdoor sporting events, the rising popularity of fitness as a market segment was hard to ignore. The company's team is an eclectic mix of personalities: Andy Leuterio a journalist who used to be an editor-in-chief for a local sports magazine; Edmund Mangaser a Certified Public Accountant who owns a local bike shop; and Raul Ylanan, an investment banker. But the trio had a common denominator, as all were avid sports enthusiasts and cycling buddies.

“We started out organizing bike races and Fun Runs for our respective clients. In a matter of a few months last year, we realized that we had the potential to generate more business for ourselves and our clients if we formalized our 'rackets' into a real business,” Leuterio said.

The set-up proved to be a perfect match, with each person’s profession fulfilling a vital role to run an events company.

“I myself was more creative than business-minded when EMR started out; Edmund and Raul were more knowledgeable with running businesses,” explains Leuterio. Sporting events aside, the company also handles projects outside their arena. Aside from arranging adventure tours and sports events, the company also offers services on product launches, press conferences/junkets, sales rallies, conventions, concerts, branding events, GPS-Assisted Course Design, Press Release and Scriptwriting Services, among others.

Being into the multisport lifestyle long before it became a fad, along with a well-built network in media and sports industry, the EMR team only had to invest the minimal required amount for incorporation with SEC and documentation with the BIR. Each also made it a point to invest in personal equipment that can be used in the long-term such as GPS, laptops, radios and event hardware such as signages, tents, among others. “The investments paid for themselves in a year, so now we can focus on acquiring new equipment as required,” says Leuterio.