An increase in the number of internet users each day has presented various opportunities for the growth of several online businesses. Online sports coaching is one of the business markets growing significantly by the use of digitalization. Considering the current market scenario, latest trends and drivers, and the overall market environment, the online sports coaching industry is poised to grow by USD 12.23 billion during 2019-2023, progressing at a CAGR of 6%.
Several elements like artificial intelligence, evolving communication tools, Internet of Things, and modern software have made remote sports coaching more reliable these days. Online sports coaching platforms like CoachUp, CoachList, TrainingPeaks, etc. are already on the way to change the way sports enthusiasts are approaching online sports coaching. It has unlocked unprecedented opportunities in the coaching industry. It has started to embed in every aspect of the sports coaching business and is transforming people, processes, and technology.
The use of technology and personal portable devices like smartphones, tablets, and laptops has inclined sports enthusiasts towards this informal but convenient mode of coaching. It had made it easy for the athletes to enhance their sports skills and knowledge at the location of their choice. It also allows athletes to partner with clients to inspire them to maximize their personal and professional potential.
The working of an online sports coaching platform is quite simple. Other than admin, it has two more types of users – coach and athletes. With details like coach experience, expertise, reviews, ratings, organization tie-ups, etc., it becomes easy for the athletes to find the right coach as per their specific needs. Below is discussed the detailed workflow of both the users of the online sports coaching platform.
Initially, athletes create an account on the portal.
Search the coaches on the portal as per their requirements and book a live session with them as per their availability.
Make the payment as set by the coach.
Attend the live session by the coach.
Athletes can also review/rate the teachers as per their experience with the teacher.
Coaches create an account on the portal and a request is sent to the admin for the approval of the profile.
After listing, coaches set their availability calendar and receive session booking requests. Coaches can also choose to conduct one-on-one or group sessions.
Coaches then confirm the bookings and deliver the live sessions.
Lastly, coaches receive the payment of the delivered sessions from the admin.
Simply put, online coaching marketplaces connect athletes with private coaches. The process is as simple as ‘search, schedule, and get trained’. Depending on the target market and popularity of sports, different sports are included in the sports coaching marketplace.
Revenue Generation Model
Primarily, these marketplaces make money from the commission they cut from the session fee athletes pay to coaches through the website. Other than that, there are several other revenue streams in this business model:
Yearly/Monthly Subscription: The platform owner can sell monthly/yearly subscriptions to the athletes as well as the coaches to gain access to the platform. The fee of the subscription packages is decided by the admin at the initial stage.
Featured Section: The platform owner can add a featured section on the website for the coaches who wish to be displayed more prominently for more visibility.
Merchandise Sales: The platform owner can also offer brand merchandise on the platform which will also help in improving the brand visibility and promotion.
Banner Ads: The admin can also display ads on the site which will be a direct source of revenue. Ads can be served by any third-party ad network service like Google AdSense.
Essential Features of an Online Sports Coaching Platform
Now that we have reviewed the business end of the sports coaching marketplaces, let’s discuss the essential features required for these marketplaces.
Multilingual for Global Reach: An online sports coaching platform has users from all over the world. Therefore, a platform that supports foreign languages is an important feature, which allows you to connect coaches with sports enthusiasts without worrying about the language barrier.
Collaboration Tools: Coaches and athletes should be able to communicate in real-time via audio/video in order to have an efficient coaching session. In addition to that, collaboration via various other means is also considered essential for online sports coaching. Some of them are:
Easy to Use Interface: An online sports coaching platform should be easy to use. The navigation through the whole system should be smooth and coaches, as well as athletes, should be comfortable while using the platform.
Search Functionality: The search bar with the sports categories and filters within the platform allows athletes to filter out all the irrelevant and non-matching coaches, saving their time and efforts.
Location-Based Session Scheduling: Users (coaches and athletes) should be able to select their respective time zones which makes it easy to mark availability and book sessions. Having this feature eliminates the confusion among the coaches and athletes residing in different time zones.
Multiple Payment Methods: Offering multiple payment methods on the sports coaching platform like a credit card, debit card, net banking, etc. which are faster and more convenient for the athletes is essential for increasing sales and conversions. Also, make sure you offer popular payment gateways that athletes know are secure.
Matching Algorithm: A well-organized sports coaching platform should have an algorithm to help match athletes with coaches specific to their requirements. The platform should leverage the information provided by both the users and suggest recommendations to the coaches as well as athletes.
Review and Rating: Allowing athletes to rate and review coaches after the completion of the session makes the complete system more transparent. The ratings displayed on the profile of coaches make it less time-consuming for future athletes to select the coach as per their requirements.
Multi-Currency: It helps users to set the currency as per their preference which enables the athletes to pay the cost of the sessions in their own currency which is then converted into coaches’ currency by the admin before transferring.
PWA: Due to the undeniable significance of mobile devices in today’s world, having a mobile app is essential to enable the users to access the platform on the go. Having a PWA of the sports coaching platform combines the best of both website and mobile apps and is the best approach to enhance online presence. One can obtain enormous benefits over competitors utilizing this trending technology.
In view of the growth of digitalization, the online sports coaching industry will continue to remain unscathed and show promising growth opportunities for investors. The market will be driven by technological integration in sports coaching and increasing demand for sports coaches. In addition, increasing government initiatives and interest of the younger generation in sports is anticipated to boost the growth of the market as well.
And, with the increasing competition, it is essential to choose a reliable solution to launch a feature-rich online sports coaching platform. Yo!Coach, a readymade and white label solution can become the ideal solution to launch an online sports coaching marketplace. With all the basic and advanced features packed in the software, it minimizes the time-to-market and helps entrepreneurs to cater to the needs of athletes and coaches.
Packed with all the features mentioned above, Yo!Coach is a hyper-focused software to build a constructive coaching environment. It will not only help accomplish your business goals but also establish you as a pioneer in the sports coaching industry.
Enquire How Much Sports Coaching Platform will Cost You