I’m an International Entrepreneur: 6 Ways Team USA Can Help Your Money Grow by Winning Gold
According to Forbes, American gold medalists earn $37,500 for taking the top spot in their event, while silver medalists win $22,500 and bronze medalists get $15,000. That’s not a bad haul, considering The New York Times says the actual metal in the medals is worth only about $700.
For an Olympian like Steph Curry, who will make just shy of $56 million this year as part of a four-year NBA contract worth $215.35 million, those figures are little more than couch cushion money. But if you’re not a pro athlete pursuing Olympic gold as a side hustle, you can position yourself to cash in on a Team USA victory without even pulling a hamstring.
In keeping with the international spirit of the Olympics, GOBankingRates spoke with professionals from around the world who revealed how to leverage an Olympic gold medal that someone else won to build wealth for yourself.
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For Content Creators, Influencers and Writers, Dollar Signs Are the Real Olympic Symbol
According to the International Olympic Committee, “Record-breaking Olympic digital engagement lays the groundwork for success at Paris 2024.”
The committee wrote, “Content was created for more than 400 Olympic Qualifier events organized by the respective International Federations. Here, 11,000 athletes’ stories, 195 live broadcasts and more than 8,000 social media posts led to more than 600 million engagements.”
That’s a whole lot of digital content just begging to be monetized.
“For those who create content and are social media influencers, the frenzy around the Olympics can be a golden opportunity,” said Mark McShane, founder of UK-based digital PR and marketing agency Cupid PR. “Content created around the Olympics, such as blogs, YouTube videos or social media posts, can attract a larger streaming audience eager to learn something new and be informed about the Games. The increased traffic makes it easier to monetize such content with ads, sponsorships or brand partnerships.”
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Monetizing content is one way to capitalize on this year’s record-breaking volume of Olympic-themed digital content, but it’s not the only way.
“In addition, they can use affiliate marketing through sports brands or fitness equipment to earn commissions on their sites from sales,” said McShane. “For instance, an influencer who reviews and promotes Team USA gear or Olympic souvenirs can drive traffic to retailers and earn a percentage of each sale, making money from a popular event and benefiting from the surge in consumer interest surrounding the Olympics.”
Invest In French Stocks
Robert Sroka is an incoming assistant professor of sports management at Towson University. He previously held sports academic posts at Georgia State University and Northumbria University, holds a Ph.D. and L.L.M. from the University of Michigan and a Juris Doctor and B.A. in political science from the University of British Columbia.
“I research issues concerning mega-events, finance and economics,” said Sroka — and he’s noticed an Olympic trend that could help you get more from your investment dollars when the Games begin.
“There is some research indicating that the Olympics act as a pump-priming for host economies, with stock market gains following government infrastructure investment,” he said. “Indeed, six of eight Summer Games hosts between 1984 and 2012 saw significant stock market gains in the six months and year following the event. With French stocks beaten down by uncertainty following the snap National Assembly election, there could be scope for a more significant Olympics boost after two weeks of good feelings.”
Invest In Sponsor Stocks
In April, Forbes reported that NBCU, which has exclusive Olympic broadcasting rights, had already booked a record $1.25 billion in ad buys. Olympic sponsors spend big money on advertising to make big money for their shareholders — and you can become one with a free online brokerage account on just about any budget.
“A Team USA gold medal win can be a golden opportunity for people to grow their wealth,” said Alan Andrews, a commercial finance specialist with KIS Finance, which has offices in London and Wales. “Investing in stocks of companies that sponsor athletes is quite a savvy move. These companies often see a surge in sales and brand recognition during and after the Olympics, which can push their stock prices higher. For instance, brands like Nike and Under Armour enjoy increased visibility and sales during these events. I’ve seen this trend firsthand, and it’s always exciting to watch the market respond to the Olympic buzz.”
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If You Can Sell Fitness, Now Is the Time
Nothing reminds people that they don’t have a swimmer’s body like watching a whole bunch of swimming. That dynamic is why Forbes says gym memberships, exercise classes and fitness equipment purchases spike during the Games, a trend that industry publications and worldwide fitness-related businesses have confirmed for over a decade.
“Think about offering personal training sessions, selling sports gear or creating some fitness content online,” said Andrews. “The Olympic spirit drives enthusiasm for physical activity, and people are more likely to invest in fitness services and products during this time. I remember a client who turned his passion for fitness into a profitable venture during the last Olympics. It was inspiring to see how the increased interest in sports helped his business take off.”
If You Own a Business, Find Any Angle for an Olympic Pivot
Many of America’s more than 33 million small business owners can seek renewed profits during the Olympic season by directly or indirectly incorporating the Games into their marketing, merchandise or mission.
“Local businesses can take full advantage of Olympic fever and get into running promotional events and campaigns with an Olympic flavor,” said George Yang, a certified health education specialist (CHES) and founder and chief product designer of YR Fitness, which has a presence in the U.S. and Yang’s native China.
Yang said his own business runs Olympic-themed promotions throughout the season and consistently earns new clients.
“This effort will serve to push sales higher but will also foster goodwill in the community. Owners of small businesses could also carry out marketing campaigns that support the Olympics with special deals and sports-themed events that bring in more customers.”
Andrews agreed.
“Imagine a sports bar hosting viewing parties or offering special deals during Olympic events,” he said. “This draws in customers and boosts sales. It’s a fantastic way for small businesses to join in the celebration and benefit financially.”
If you don’t own a business, there’s probably an alternate route to your own personal Olympic gold.
“The Olympics present a unique financial opportunity,” said Andrews. “People can significantly amplify their wealth by investing wisely, exploring new business ventures and harnessing the Olympic excitement. On a personal note, as someone who loves both finance and sports, I see this as one of the best ways to quickly gain income and I suggest everyone at least give it a try.”
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This article originally appeared on GOBankingRates.com: I’m an International Entrepreneur: 6 Ways Team USA Can Help Your Money Grow by Winning Gold