In college sports, a player’s jersey might sell out in minutes, yet the athlete behind the name rarely sees a dime. Stephen Farag, founder and CEO of Campus Ink and the NIL Store, is helping to change that.
Farag saw an opportunity in the name, image, and likeness (NIL) legislation—giving college athletes a way to profit from their own merch. But instead of following the traditional, slow-moving licensing model, he built a print-on-demand business that puts money directly into athletes’ pockets.
With a vertically integrated system, student-led marketing teams, and a game-changing investment from billionaire entrepreneur Mark Cuban, Campus Ink has helped athletes collectively earn more than $2 million—proving that NIL merchandising isn’t just about selling shirts, it’s about reshaping the business of college sports.
Scaling sustainably by printing only what sells
One of the biggest killers in retail is excess inventory. In the NIL space in particular, where athletes transfer, get injured, or see demand for their merch fluctuate overnight, traditional licensing models don’t work. Farag knew from experience that pre-printing and warehousing stock could lead to massive inefficiencies.
“Inventory is the biggest killer for retailers,” Farag explains. “A player might transfer, quit, or get injured. And in a typical licensed world, buyers place orders three to four months in advance. That doesn’t work in the NIL space.”
Campus Ink operates on a just-in-time model—printing items only after they’ve been sold. This eliminates waste, reduces financial risk, and ensures every item shipped is in demand.
For founders in any industry, the takeaway is clear: overproduction kills margins. Designing a business model that minimizes upfront inventory costs can be the key to long-term sustainability.
Managing relationships with thousands of athletes
From a single athlete collaboration to nearly 20,000 players across hundreds of schools, the NIL Store has scaled at an astonishing pace. But managing those relationships is no small feat—especially when dealing with 18- and 19-year-old athletes who may be handling their first professional deals.
“A lot of these athletes won’t go pro,” Farag says. “So how do you create an ecosystem that supports them, educates them on branding, marketing, and monetization, and still makes sure a t-shirt gets out the door?”
The answer, he’s found, is to invest in education. Campus Ink runs an internship program that trains students in sports marketing, branding, and business operations—providing them with real-world experience while helping the company scale.
A key strategy is student-led marketing teams. Each NIL Store has its own Instagram, X, and Facebook accounts, run by students who understand their school’s culture and fan base. This hyper-local approach drives engagement and gives students hands-on experience in digital marketing.
If you’re a founder working with large networks of independent contractors, creators, or sales reps, give them the tools and education they need. When you invest in their success, they’ll invest in yours.
Sending a cold email to Mark Cuban
A turning point for Campus Ink came when Farag took a shot at securing outside investment with a well-timed cold email to Mark Cuban.
Farag found Cuban’s email address on Reddit and sent a message introducing the NIL Store. “I forgot to even ask him for anything,” Farag laughs. Cuban responded with, “Why are you emailing me just to brag?”
After some back-and-forth banter, Cuban agreed to invest in the NIL Store. His involvement not only provided capital but also credibility, helping Farag gain trust from universities and athletes.
Student-athletes are empowered to design and monetize unique jerseys and other merchandise through Campus Ink’s NIL Store.
Campus InkTaking NIL from startup to industry standard
As Campus Ink continues to scale, its impact is undeniable. In just three years, it’s become a category leader in NIL merchandising. This success has enabled young athletes to develop business skills, earn income, and transition beyond sports.
The next phase? Expanding into professional sports, launching in-game, QR-code-driven purchases, and refining the NIL Store’s creator economy platform. “If our athletes are like Uber drivers, we want to put this at their fingertips,” says Farag.
For entrepreneurs, the lesson is simple: Solve a real problem, build a scalable system, and create opportunities for others to make money—and your business will grow itself.
To hear more about NIL merchandising, listen to Steven's full interview on Shopify Masters.
