Starting your own cricket academy in Chennai is a good business and this is keeping in mind that there are a number of sports enthusiasts in this city. The academy helps in development of the potential of the sportspersons. The first step towards starting the academy is the creation of a business plan as it helps you to stay inclines to your mission, vision, and goals. The next step is to acquire a permit just like all the other sports academies.
Finally, you have to figure out the target audience and the people who are keen to enroll in your academy. Ideally, a cricket academy needs to focus on the game of cricket and develop the potential of the candidates to prepare them as professional athletes. Every academy has to follow a curriculum and cricket being played by a maximum number of students can provide your academy with a higher profit value.
Location of the academy
The right location of the academy can provide a boost to its success. While the location can differ depending on the types of sports you choose, it also provides a feeling of being at home to the students. Ideally, the academy must be situated at a place that the candidates can easily access.
Company registration in Chennai
For the process of company registration in Chennai, you have to figure out the section under which the registration is to take place. Your academy is Section 8 Company which is incorporated for the promotion of sports and applies the profits to promote its objects and not for profit under the provision of Section 8 Companies Act of 2013.
The company under Section 8 is registered without the word Private Limited or Limited at the end of the name and instead has words such association, federation, institution, or foundation. The following are the requirements for the Section 8 Company:
- The sports academy must have two directors.
- It should have minimum two shareholders or members.
- The Aadhar Card, PAN, and the latest copy of the bank statements of the members and directors.
- The work in which the academy is to engage and the ground on which the work is to be done.
- The proposed income and expenditure for the three years.
- The rent agreement, electricity bill, and NOC for registered office address.
For incorporation, you need the following documents:
- You have to get application for obtaining the digital signature of the proposed directors.
- You must obtain the Director Identification Number or DIN.
- Seek name approval application for the registration of companies.
- Application for obtaining Section 8 Company license.
- Application to the registrar of companies for incorporation of Section 8 Company.
If you own a company or an enterprise, you have to check whether the entity is categorized as a small, medium or micro industry as there is a certain set of criteria you must fulfill to be classified under these industries and register of Udyog Aadhar, government registration that is offered along with a unique number.
Other things you need
The following are the things needed to complete your cricket academy.
- For the academy, you have to scout for a good cricket pitch or any ground near Chennai where you can lure the students of schools and colleges.
- Hire a good coach who has played for a team at the district level.
- Get some good sporting equipment for the teams to practice and hire a physio and an analyst.
- Decide the timings of the academy and get the necessary clearances.
- Advertise your academy in the newspapers and the local television channels.
The enthusiasm for cricket has grown over the years and setting up a cricket academy is the best way to search and hone the skills of the young talents to prepare them for playing at the state and national level.