Game on: March Madness rings in a new class of champions—and entrepreneurs

Thrilling upsets, last-second buzzer-beaters, fans going wild in the stands. This is March Madness. Each spring, the best college basketball teams in the U.S. head off in fierce rivalries. 

But in recent years the chaos of this anticipated tournament has become about more than just championship glory. It’s a chance for athletes to find economic opportunity and ensure their futures off the court. These young players are gaining full control of their brands, monetizing their influence, and strengthening their relationships with fans. 

“It’s like Christmas for us. Every fan is watching basketball all the time during March Madness,” says Steven Farag, CEO and co-founder of The NIL Store, a brand that helps college athletes design and sell apparel. “We basically have six weeks to capture the attention of college basketball fans and do right by those athletes by creating compelling storytelling through merchandise.”

For the co-founder of Athlete’s Thread, Karthik Shanadi, it’s their busiest time of year, with 30% of basketball sales happening in March and April. The brand works with 380 colleges and 38,000 athletes.

“We work closely with athletes during peak moments like March Madness to maximize their exposure and sales. The NIL era has completely reshaped our strategy, allowing us to create new opportunities for athletes,” says Karthik.

In the wake of a legislative shift that allows college athletes to profit from the commercial use of their name, image, and likeness, Shopify-run apparel brands like Scarlet & Gold, The NIL Store, and Athlete's Thread are collaborating with collegiate superstars to take their branding to the next level. And it’s completely changing the game. 

Personal branding becomes a slam dunk for college athletes 🏀

Steven launched The NIL Store in 2021 with an investment from Mark Cuban to specifically cater to college athletes looking to build a brand. 

“What’s happened in the NIL space is a shift in history, and one that was completely overdue. It’s created this new economy of individuals who can finally have a piece of what they contribute to this billion-dollar college sports ecosystem,” says Steven. “These athletes are leaning into their brand, they’re learning marketing, they’re starting companies, and they’re becoming creators.”

The NIL Store is now licensed with over 150 universities and supports more than 20,000 student athletes on the platform with 2 million SKUs across branded hoodies, t-shirts, jerseys and so much more. They also guide athletes in launching individual Shopify storefronts. The platform reached over a million dollars in athlete payouts within just a year and a half of its launch. It’s quickly become a go-to platform for college athletes hoping to capitalize on their name, image and likeness. 

"The NIL Store has given us an opportunity to sell our merch and make money from our names,” says Luke Goode, a forward for Indiana University’s men’s basketball team. “Working with this company has been great and easy throughout the whole process.”

As March Madness gears up, so does the energy at The NIL Store. The event is full of viral, unforgettable moments that athletes can harness to promote their merch. And Steven’s team is constantly watching and waiting for opportunities. When Lamont Butler from San Diego State hit a buzzer-beater in the 2023 Final Four and when Jack Gohlke of Oakland University hit 10 3-pointers to stun Kentucky in 2024, they were able to create and sell merch for those athletes within hours of their big moment. The team understands college athletes have a finite window of opportunity, and they’re there to make sure the players get the most out of it. 

The NIL Store’s top revenue month of all time was during March Madness in 2024 with total revenue spiking by 61%. They hope to top it again this year. The store's success is tied to its philosophy: invest in the athletes.

“We believe that the athlete is the best form of influencer. These are talented, passionate hometown heroes. There's no one better than them,” says Steven. “We actually don't spend a lot of money on paid advertising and traditional ads. We pour all of it into the athlete because we truly believe that generation is the best at promoting themselves.”

Brands like The NIL Store don’t only make March Madness better for athletes, but ultimately for fans too. With fans now realizing their purchases directly support the athletes, Steven is seeing a shift in buying behavior. 

“People are starting to consciously buy,” he says. “They want to buy the merchandise that’s actually going to help the athletes.”

Adds Karthik from Athlete’s Thread, “NIL has created a direct connection between athletes and their fan bases. Fans are more engaged than ever, and NIL has made it possible for them to celebrate their favorite athletes in a tangible way.”

Fans score a better way to support their fave athletes 🥇

In Auburn, Alabama, a brick-and-mortar retail shop and commerce store called Scarlet & Gold sits at the heart of Auburn University’s fan culture. The store has sold officially licensed AU apparel for more than a decade and has expanded to sell merch for more than two dozen other universities. What sets the brand apart is its mission to design collegiate apparel that can be enjoyed beyond game day.

“We want to create apparel and accessories that people actually want to wear. I don’t want to create gear that’s loud and in your face. These are wearable, everyday pieces,” says founder Megan Smalley.

During March Madness, the team kicks it into high gear and anticipates the surge in sales as fans support their favorite athletes. They use a print-on-demand system to create shirts for tournament trends.

“When you’re in the game day space, sales is a roller coaster. It goes up and down based on the excitement around the team,” says Megan. “Sales are high for us now because Auburn is the number one team right now.”

Thanks to Auburn’s place at the top of the rankings and Scarlet & Gold’s recently launched NIL deals with famous college athletes like Johni Broome and Dylan Cardwell, Megan has seen the store's sales spike by 74% from March 2024 to March 2025. 

“Working with athletes is exciting because people want to support these athletes,” says Megan of her brand’s NIL deals. “When we had an event for Dylan at the shop, everyone wanted to know which items supported him. There's been a lot of education about how fan support of these athletes matters.”

Megan believes in the power of sports apparel to spark conversations and build community around these athletes. 

“Wearing a team shirt is a connector,” she says.“Sports is one of the most unique unifiers. You can take a football stadium of people at Auburn who have vastly different beliefs about just about everything, but they are unified as one as they cheer on the team.”

Victory after the final buzzer 

For many college athletes, pivotal moments like March Madness will be just a single chapter in their lives. Underlying the adrenaline and excitement is a simple fact: Less than 2% of NCAA college athletes will go pro. Because so few of them enter the professional ranks after college, it raises the stakes for building a brand and embracing entrepreneurship while still in college. They can set the stage for a lifetime of achievement—far beyond the court. After all, college is a time for education and self-discovery.

“The point of college is to be a sandbox,” says Steven of NIL Store. “What these students are doing with their brands is no different than having an internship at a company. They’re just doing it for themselves.”

This March Madness may crown champions of the court, but it is also paving the way for a new generation of champions in entrepreneurship.