Business Daily The billion-dollar rise of Padel
Mar 27, 2024
The podcast explores the rise of Padel as the world's fastest-growing sport, backed by investments from celebrities and major brands. It delves into the gameplay and popularity trends of Padel tennis, and the challenges and lessons learned from its boom and bust in Sweden. Additionally, it discusses the global growth and future expansion plans of Padel clubs around the world, including the UK's rapid rise and commercial partnerships with companies like Red Bull. Overall, it highlights the sport's inclusivity, sociability, and positive impact on mental well-being.
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Sweden's Padel Bubble
- Sweden saw a padel boom during the pandemic, but now many centers are closing down.
- The rapid growth prioritized quick profits over sustainable development of the sport.
Padel vs. Pickleball
- Padel and pickleball, both created in the late 1960s, are gaining popularity as tennis declines.
- Pickleball's lower setup costs, due to not requiring purpose-built courts, make it a less risky investment.
Padel Business Advice
- Starting a padel business requires substantial capital due to high court construction and planning complexities.
- Consider land availability, footfall, and rental costs to ensure profitability.