Developing a Business Model for Extreme Sports Clubs: An Approach based on Financial and Capital Interaction

Purpose: With the emergence of new and extreme sports, it is very important to examine their various aspects. This research deals with the design of the business model in extreme sports clubs with the approach of capital and financial interactions.Methodology: This qualitative research has used the thematic analysis approach to investigate components, communication, and business model design in extreme sports clubs. Data were collected through semi-structured interviews with specialists and experts in extreme sports. The thematic analysis approach of Brown and Clark (2006) was used for data analysis.Findings: The findings show that the business model in extreme sports clubs has three basic elements: tangible assets, intangible assets, and stakeholders. Through the two-way relations of these elements with extreme sports clubs, capacities, and dynamics are created for business. According to the type of participants, styles and levels of extreme sports, financial interactions, and social capital formation can be witnessed. This model has a cyclical nature that depends on the interactions between its components.Originality: This research presents an original business model framework for extreme sports clubs.  Prior research on business models has yet to delve into the unique characteristics of this industry. This is the first study to explore the interplay between tangible and intangible assets, stakeholders, and the specificities of extreme sports participation (types, styles, and levels) to understand financial interactions and social capital formation within this domain.  By highlighting the cyclical nature of this model.