I don’t blame athletes for wanting all cash NIL deals. Getting paid in cash is my preference and I’ll guess that NIL cash deals are the preferred type of payment amongst athletes.
But here’s the reality: only a few top college athletes score NIL cash and the ability to be selective with the brands they accept. For a majority of the hundreds of thousands of collegiate athletes, their partnerships will come in the form of smaller in-kind NIL payments. In-kind payments are non-cash items that have monetary value.
For the average student athlete, there are still great opportunities to profit off of in-kind payments, even if it doesn’t mean receiving cold hard cash. Think about it, there are so many adults who supplement their salaries with in-kind payments:
- Faculty or staff members at universities, colleges or private high schools who receive free housing through their job
- Jobs that provide free food, snacks and beverages for their employees.
- Coaches and athletics administrators that receive gear, sneakers, socks, etc. each season.
- Workers who are given company cars to use for transportation.
So what happens when you don’t have NIL money coming your way, but you have a great network or social media following? The answer is to seek out those one-off marketing campaigns to get smaller cash payments, gift cards to build your NIL earnings.
Here are a few examples of in-kind payments that athletes can use:
- Gift cards. There are a ton of athletes who receive gift cards or store credit for meals, nutrition supplements, beverages, gear and more. In exchange for your promotional work, gift cards are a great way to earn NIL money.
- Products. The skincare market is a billion (yes billion…with a ‘b’) dollar market. Even if you don’t get the attention of big brands, there are tons of small businesses that seek ambassadors for their products. Athletes are the perfect models for post-gym skincare routines, athleisure make up and more. Be creative and reach out to brands where you can help amplify their message with your followers in exchange for free products.
- Meals. We all need to eat. Obtaining free food anywhere is a huge perk, especially with the price of groceries these days. Working with businesses like restaurants, grocery stores, fast food chains and more is a great way to earn free meals.
- Tax services. If you make at least $400 through NIL or working independently, you’ll need to file taxes. Partnering with a tax professional in exchange tax services is a great in-kind payment.
- Clothing. Clothing brands are great partnerships for NIL earners. Many athletes find it pretty easy to market clothing including athleisure, socks, underwear and more, especially when they have a good social media presence.
- Footwear. Similar to clothing partnerships, in-kind payments in the form of footwear can be super lucrative. Active athletes are constantly replacing their footwear (I remember going through 7 pairs a season, at least), so consider all of the scenarios when you’ll need sneakers & footwear: practice, training, travel, casual, and more.
- Electronics. There are so many opportunities for athletics and tech to intersect. Wearable devices that monitor health and performance, smartwatches, activity belts, reaction lights, sports watches and more, there are a ton of ways you can help a company market their products by wearing and using tech each day.
- Merchandise. Athletes can also market and promote different types of merchandise. One partnership example: working with a small business and promote their bags. Athletes use different types of bags throughout the year: backpacks for school, gym bags, suitcases for travel, etc. Don’t forget about a nice wallet or clutch for going out! Marketing a ‘day in the life’ with your bag or special merchandise, coupled with a great social media presence is a great way to obtain free merchandise in exchange for your work.
- Treatments. The services athletes get for free in the training room are highly sought after services by the general public. Offices that provide physical therapy services, acupuncture, chiropractic offerings and more can provide you with treatments in exchange for the marketing of their services.
Finally, don’t think you need to have thousands of followers to approach businesses for NIL payments. Micro influencers are great at utilizing their social media following to promote produces and services to their audience. In-kind payments are great ways for any athlete to capitalize off of their NIL.