Utah Yetis Challenge #1 Submission

Mission Statement 

The mission of the Utah Yetis football team is to provide the city of Salt Lake and the state of Utah with a unique experience that they cannot find anywhere else. We strive to bring our fans an unforgettable experience that will change the way they see the sport of football. We plan to bring a game that cannot be beat from tail gating; to game day traditions, to electric halftime shows all the way to amazing and uniquely Utah concessions, we will make the fan experience a memorable one. Our goal is to cater to the fans, create a Yeti family, and be part of the Utah community by helping families create traditions that can be enjoyed now and for generations to come.

Executive Summary

Salt Lake City, the capital of Utah, located in the heart of the picturesque Rocky Mountains, is a dynamic urban center known for its stunning natural surroundings, diverse economy, and rich cultural heritage. The Salt Lake City metro area has a population of around 1.3 million, it boasts a robust economy anchored by sectors like technology, healthcare, and finance, alongside a vibrant arts scene and multicultural community. The city is home to the University of Utah and features excellent transportation infrastructure, including a light rail system. While facing challenges like housing affordability, Salt Lake City presents significant opportunities for sustainable growth and development, making it an attractive place to live, work, and explore. The Utah Yetis will provide a once in a lifetime experience for fans. The Utah Yetis are excited to be a dynamic part of the Salt Lake City community and represent Utah with pride.

Budget/Revenue & Expense Projections 

The salary cap for the 2024 NFL season is $255.4 million. $200 million of that salary cap is going to be spent on our players. In 2025 this upcoming offseason we would like to add NFL stars Cedee Lamb and Aj Terell to add star power to our offense and defense. We want players on our team who have an exceptional work ethic and demonstrate a keen sense of accountability. They must be team players and have a positive attitude towards the team. In this upcoming draft, we would like to add star cornerback/receiver Travis Hunter and have one of the first ever dual threats on both sides of the ball. We would also like to get a franchise quarterback in either Cam Ward or Shedeur Sanders in the 2025 draft. We chose not to spend our entire salary to leave room to trade players, if necessary for performance or injury reasons.

The Utah Yetis have decided to spend $11.5 million on their coaches. We want a coach on our team who is either a successful college coach, a successful offensive or defensive coordinator that coaches in the NFL, or a former NFL player. Coaches the Yetis have in mind would either be Bill Belichick to come out of retirement. This seems like a longshot, but it would bring significant attention to the Yetis if Belichick would do it. Another option is former quarterback and former number one pick Alex Smith. In total we will spend $15 million on coaches and front office personnel.

The Yetis are going to set aside $4 million for marketing and advertising. Social media platforms such as Instagram, Tik Tok, Snapchat, Threads, X, Facebook, and YouTube are where we are going to be advertising our team. Our marketing team will create and design a fan app that fans can interact with. In this app fans can buy tickets, concessions, parking tickets, and merchandise. Within the app there is also a texting hot line where fans can text if they need help, as well as interactive games to play during commercial breaks.

This year we plan to generate most of our money from ticket and merchandise sales as well as sponsorships. During the off-season, the Yetis are considering renting out the stadium for other events. We estimate that we will generate $45 million in ticket sales and $4 million in suite sales. Another $15 million will come from concessions and $56 million in merchandise sales. The Utah Yetis will be profitable for this season, with an estimated $291,000,000 net profit.

When building our stadium, we anticipate a cost of $2.6 billion. Based on our estimates, the city will pay $1.2 billion or almost half of the stadium. Whoever wants the right to name the stadium will pay around $600 million. We will get $150 million for in-stadium advertising. The NFL will also give us $400 million for stadium creation. And finally, our owner will pay the final $100 million.

Economic Impact

If there was a stadium built in Salt Lake City the unemployment would go from 17.3% to 4.7%. The creation of a new NFL team in Salt Lake City would benefit the economy and generate a surplus of money through the creation of various full time and part time jobs, spending from Yeti fans, as well as revenue generation from tourism. First off, the NFL’s market is currently booming and is expected to exceed $1 billion in revenue annually by the middle of 2024. With the success of the NFL, it can be expected that a team in Salt Lake City will boost the economy. This new team can be expected to generate considerable amounts of revenue sourcing from multiple branches including $45 million in ticket sales, $15 million from concessions and merchandise, $268 million from sponsorships, $10 million from broadcasting, and $2 million from parking. The creation of this team would create around 10,000 permanent jobs due to the tasks needed to maintain a stadium and a team. The stadium will also create around 5,000 temporary positions during the time of the stadium’s construction due to the demand for construction workers. The total salaries for one hundred to two hundred front office roles in the stadium are estimated to be between $5 million and $15 million, and the stadium staff and part time construction jobs making significantly more. The new stadium would attract people from all over the U.S. to travel to Salt Lake City which would benefit the economy by increasing spending on food and lodging throughout the city. Overall, the new team could generate about $156 million in jobs and additional revenue for local businesses, potentially creating two hundred–five hundred new jobs in the Salt Lake area with total compensation between $5 million and $20 million. The overall economic impact of having the Yetis located in Salt Lake City can be estimated at $501 million. This dollar figure is calculated from the time of stadium construction through the end of the inaugural season.

Marketing Goals/Objectives

To promote the Utah Yetis football team, we need to understand both our direct and indirect competition. While we do not have direct competition from another NFL team within Utah, indirect competition should be accounted for in our marketing strategy. In Salt Lake, the Utah State football team in the NCAA FBS Big 12 Conference, has a large local following, along with Utah Archers, a Premier Lacrosse League team based out of Salt Lake City, the Utah Jazz (NBA), Utah Real Salt Lake (MLS), the Utah Hockey Club (NHL), and Grizzlies (ECHL hockey). Museums and amusement parks around Salt Lake City also play a threat in the fan base due to their family friendly entertainment. Additionally, the region has long-standing support for neighboring NFL teams, such as the Denver Broncos and Las Vegas Raiders, who may pose a challenge in terms of converting local fans to support our team. Other indirect competitors in the market include other forms of entertainment like zoos, aquariums, museums, and amusement parks. Our competitive advantage will be having a brand-new state-of-the-art stadium and a brand-new team which will draw the interest of fans across the league. We will also create a fan experience that fans will never forget, which will include game day traditions and spectacular half-time entertainment.

The goals and objectives of the Utah Yetis are to start building a loyal fan base and keep fans entertained and continuously engaged while gaining exposure for our inaugural season. One of our goals is to gain 300,000 or more followers across all our social media platforms. To achieve this, we will continually post creative and engaging content that fans can interact with. Before the start of our inaugural season, we would like to have 30,000 season tickets purchased. Fan engagement and community integration will be key to achieving our season ticket sales goals. To help integrate ourselves into the Salt Lake City community and beyond we will start the Yeti Foundation. The Yeti Foundation is a nonprofit organization dedicated to supporting families in and around the Salt Lake area. Our mission for the Yeti Foundations is to have players and coaches visit local children’s hospitals to bring joy and inspiration to young patients, engage with students in local schools to promote education and wellness, and organize food drives to support families in need. Also, the Yeti Foundation will actively participate in various community events, building a strong connection between the team and the community, while working to positively impact the lives of those in the region. Overall, the signs point to the fact that we will succeed. Many strengths come with a Utah football team, such as the new stadium we will build that will bring in lots of income. On top of this, the football market in Utah is untapped, so it brings attention to our team. As a team, we will have to maintain our family-friendly image to appeal to the fans who live in Utah and the surrounding areas.

Marketing Strategy

As the Utah Yetis become a new NFL team it is our goal to provide new opportunities for the sports and entertainment industry. The team will bring new experiences to the community and surrounding areas. This will also bring competition to the other professional sports such as the NBA, Major league soccer, and an NHL team. The direct competition will be tough at first being a newer team to Salt Lake City. Although the teams that are already in Salt Lake will have many fans in, we are a new professional sport backed by a popular league. This means we could have a good start with the fans in the surrounding area and in the community. Our marketing budget is four million dollars total. This money will be used for implementation on ads on social media, merchandise, news articles, posters, and tv commercials.

As a new team, we do have to keep our image family friendly, as Salt Lake City is largely made up of families. Utah is also known as a religious hub. The most common religious group found in Salt Lake City and Utah is Mormonism. However, there is also a large population who identifies with Christianity in the area. As we get into social media, we are going to keep it as family friendly as possible. Our goal for followers is 300k on every big platform, by the end of our first season.

Product

Our product is the advertisement and entertainment of the Utah Yetis NFL expansion team. We will provide fan entertainment with jumbotrons located throughout the field along with free Wi-Fi in the stadium. The Utah Yetis will also provide team apparel such as jerseys and shirts. Not only can you find team apparel in the shops you can also find it on our team app. Apparel will also be available online and in national retailers and sporting goods stores for those who do not live in the Salt Lake City area. On the team app, fans can get amazing deals on tickets, concessions, and VIP experiences.

Price 

Ticket prices for our nosebleed seats will range from $100 to $130. All seating prices will vary based on the popularity of the team we are playing. There will also be seating available with a range from $400 to $800. The Utah Yetis will have amazing box seats priced around $4,000. Our season tickets will range from $250 to $3,000 and will decrease by 25% throughout the season. Seats provided with food and drinks will range from $600 to $800. To keep our concessions affordable for families the prices will range from $5 to $20. Team apparel will have prices set at $130 for jerseys and $40 for T-shirts.

Place

The Yetis are in Salt Lake City, Utah. Large numbers of Americans love football and will be willing to spend the money for a fun experience. Tickets will be available for purchase in the stadium, through our team app, our team website, and ticketing services such as Ticketmaster, Seat Geek, and StubHub. When fans are purchasing tickets, they will be able to see our stadium layout and pick their seats based on their budget. Fans can purchase merchandise through our fan app, our website, pro shop at the stadium, and pop-up shops located throughout the Salt Lake City area.

Promotion

The Yetis will be promoted through our team app along with major social media platforms such as Instagram, TikTok, Facebook, and Twitter. Our team will be highlighted on TV and radio ads to inform local fans about home games. Throughout Salt Lake City, we will have billboards posted to advertise our team. To make the fan experience more enjoyable, we will have fan interactions with our mascot. Our mascot will be easily identifiable to better the entertainment of fans outside of games. We want to build a loyal relationship with our fans so the Yetis will go to local schools, non-profit charity events, and visit local children’s hospitals.

Utah Yetis Challenge #2 Submission

Our team will be known as the Utah Yetis. Yeti is a Tibetan word that translates to “rocky bear” or “bear-like.” The picturesque Rocky Mountains run through Utah and Utah is a frigid mountainous region where, much like bears, a Yeti could be located. There are also magical tales of indigenous Navajo tribes in Utah interacting with a holy mountain man that they referred to as Yeti Di Kluii. The Yetis pay homage to Utah’s rich history and beautiful landscape. One of our major goals that we strive to accomplish is being family-friendly to all ages. The Utah Yetis’ primary colors are light blue, dark blue, dark gray, and light gray.  The light blue symbolizes the ice and snow found in the Salt Lake City region during the frosty winter months. The dark blue corresponds to the ominous Salt Lake City sky, often appearing just before a snowstorm. The dark grey signifies the infamous Rocky Mountains that surround Salt Lake City. The light grey represents the clouds that hover over the mountain peaks. Our team logo will incorporate our team colors and feature a fierce,  determined Yeti who is poised to take down any obstacle that may be in his way. Our logo will be trademarked to protect our brand. We will wear our white uniforms away; we will alternate our grey and blue uniforms at home. The Yetis will also apply alternate branding by wearing our childhood cancer awareness-themed yellow jerseys during one home game in October to coincide with the NFL’s Crucial Catch initiative in October. The cheerleaders will also sport a yellow-themed outfit to support the cause. The yellow jerseys that the players wear during the game will later be auctioned off with all proceeds going to childhood cancer research and support. Our cheerleaders “The Icettes” will wear a variation of light blue and white uniforms at home games.

The Utah Yetis slogan for the inaugural season is “Fear the Frost.” Yetis are typically seen as family-friendly monsters who are, at the same time, fierce and relentless. Our football team is family-oriented, community-centric, while also being aggressive and ambitious, with the ability to overcome obstacles and harsh conditions. To align with our commitment to our community and our environment, we will use solar panels, recycling bins, and reusable cups throughout our stadium. Our players will build a loyal relationship with our fans by visiting local pediatric hospitals, local schools, and hosting charity events. Our stadium will feature family-friendly amenities that are fit for all ages.

The Utah Yetis football team strives to create a memorable and immersive game day experience for fans that reflects the adventurous, family-oriented spirit of Salt Lake City. To enhance the experience, the Yetis will feature a team mascot named Everest. He is a family-friendly and loveable mascot who represents the team and is named after a ridge in the Wasatch Mountains, located in the heart of the Rocky Mountains near Salt Lake City, which has been used for training Mount Everest climbers. Everest symbolizes strength, endurance, and perseverance. Everest will be used as a representation of our brand and a tool to engage with fans, young and old, to help build brand recognition, awareness, and ultimately loyalty.

The Utah Yetis will feature a state-of-the-art stadium, referred to as The Cave, that will help fans have an amazing game day experience. Fans are welcomed into a mountain-themed environment before the game with activities like a Traeger tailgate. The stadium also offers unique features such as interactive touchscreen displays in each seat, customizable heated seating with charging ports, making the experience both comfortable and high-tech. The stadium will also feature TVs located throughout the concourses and in bathrooms, so fans do not miss a minute of the action. Help desks will be located at each level to assist fans with locating amenities throughout the stadium or to find lost items. We will also have a food truck area that showcases local cuisine, and quiet rooms available in the stadium that cater to families. These rooms allow families with children to get to a quieter place in the stadium, if necessary. Fans can participate in fun activities such as the mini-in-stadium playground and rock-climbing wall. Exclusive areas like Yeti Peak offer breathtaking views of the mountains and football. During the games, there will be photo ops with our mascot, Everest. To enhance the sense of community, the stadium includes a Yeti Hall of Fame to honor all the people who brought this franchise to life, and eventually past players. The Utah Yetis’ blend of cutting-edge technology, family-friendly amenities, and strong ties to Utah’s mountain culture ensures a unique and engaging experience for all fans.

As a game day tradition, when bringing our team out of the locker room, we will have snow guns to create a blizzard effect for the players to run through while fans participate in the “Yeti Yell.” The fans will be able to make a yell with the horn that they will be able to purchase at merchandise stores located throughout the stadium for $5. The “Yeti Yell” will be done after every touchdown as well. The Bucked-Up Energy block party will be sponsored by Bucked-Up Energy. It will be a post-game party, where fans can attempt to dunk our mascot in the Yeti dunk tank and enjoy live music, games, free energy drinks, and food.

The Utah Yetis apparel and merchandise lineup will feature standard items like sweatshirts, long sleeves, shorts, joggers, and t-shirts. However, they will also take advantage of the family-friendly aspect of Salt Lake City by selling a diverse sizing scale for clothes, collectibles, home decor, pet gear, and toys. The collectibles will feature stuffed animals, key chains, mini helmets, and lanyards, increasing brand loyalty. A unique game-day item that will be available is the “Yeti Yell” horn aimed at enhancing the gameday experience for fans. Given the chillier climate of Salt Lake City, Nike will introduce Nike puffer jackets for warmth and mugs designed for post-game moments.  To create memorabilia for the Utah Yetis, they will place white t-shirts on all the seats for the first game of the season, which will be white out. We will also offer limited edition Nike dunks shoes exclusively available during the inaugural season. This will allow the Utah Yetis to take advantage of the sneaker-collecting trend.

An omnichannel merchandising strategy is crucial for the success of the Utah Yetis. The team’s merchandising approach will involve both on-site and online sales, facilitated by licensing partnerships with Nike, Fanatics, Dicks Sporting Goods, and Scheels and cobranding deals with YETI and Zions Bank. The stadium will feature one leading gear shop near the front and one pop-up shop on each floor to maximize revenue during games, utilizing the on-site merchandising strategy. This strategy will capitalize on impulse purchases driven by the game-day experience, leading to increased apparel sales. The online merchandising for the Utah Yetis will involve selling team apparel through digital platforms with licensees and their online website.  Thanks to the licensing partnerships, Dicks Sporting Goods and Scheels will make the apparel available on their online platforms and in their local store locations in Salt Lake City. The Utah Yetis have decided to cobrand with YETI, a company known for and specializing in durable coolers, cups, and other outdoor gear, to create brand loyalty with the teams and companies’ names. With this cobranding, they will be able to sell different sizes and types of water bottles featured in the YETI shop with the team logo on them.  Zions Bank is the largest bank in Salt Lake City, a cobranding partnership that will allow their brand loyalty to expand even more. Fans will be able to make all their purchases with their Yetis’ branded debit and credit cards.

The Utah Yetis are excited to build fan loyalty through multiple strategies. Season ticket holders will receive a special gift package featuring team-branded gear at the start of each season. Utah residents will have priority access to purchasing season tickets and playoff game tickets before the rest of the public. To reward long-term loyalty, season ticket holders will receive a discount on seats which will decrease the price each consecutive year that they are a season ticket holder. They will also receive a 20% discount on in-stadium purchases, which includes concessions and merchandise. Additionally, our team app will keep fans engaged by offering a rewards program where fans can earn points daily by logging in, watching games, and making purchases through the app. Fans will receive points on their ticket and merchandise purchases. These points can be used on sweepstakes entries for a chance to win autographed memorabilia, special fan experiences, or discounts on team gear from the in-stadium or online pro shop. Each fan will also receive a personal QR code to gain easy points from in-stadium purchases such as concessions and merchandise. All they must do is show their QR code to the cashier who can scan it to add points to that person’s account.

Additionally, we plan to extend the Utah Yetis brand through community involvement, such as organizing meet-and-greets at schools to inspire students, partnering with local hospitals to provide Yetis’ branded baby items to new parents (just one way to start building brand loyalty at a young age!) and to socialize with the young patients being treated at Primary Children’s Hospital and Shriner’s Children’s Hospital in Salt Lake City. We also plan on collaborating with local celebrities, like Post Malone, to strengthen fan loyalty. As a form of brand extension, the Yetis’ plan to have a Yetis’ themed ice cream shop located in downtown Salt Lake City called Yetis Frosted Freeze. This family-friendly shop will feature Yetis branded decor and ice cream flavors themed around our team, community, and football. Finally, social media will play a crucial role in increasing our engagement with fans and allowing the team to connect with more potential fans. We will use social media platforms such as Tik-Tok and Instagram where daily content will be posted. Content will include podcasts, weekly coaches’ updates, and player videos and highlights. This will keep fans up to date with the team and create a fun community. During the inaugural season, fans will be encouraged to use #fearthefrost when interacting with the Yetis on social media.