As former NFL players make the transition to entrepreneurship, this program helps them come up with a new game plan.

By Sam Boykin

After a 10-year career in the NFL playing defensive tackle for the Indianapolis Colts, the Philadelphia Eagles and several other teams, Steve Martin retired in March at the ripe old age of 31. Now what? After a decade of earning his keep on the gridiron, was he ready to make the transition into the business world?

“It’s been tough,” admits Martin. “The longer you’re in the league, [the more] you lose touch with the real world. You live in this utopia. Everybody around you is wealthy, and you’re a star. When your career ends, suddenly there are no more cameras, no more hoopla.”

Though Martin dabbled in several entrepreneurial endeavors during his football career, none of them succeeded. But after retirement, there was more at stake. To help him better navigate the world of business and finance, he participated in a unique program called Entrepreneurial Management: Transitioning With Success. The program is organized by the Wharton Sports Business Initiative at the University of Pennsylvania’s Wharton School and sponsored by the NFL and the NFL Players Association.

The program offers business education to NFL athletes, focusing on everything from marketing skills and financial analysis to real estate development and stock market investing. “It addresses the issues and problems that many football players confront when they retire,” says Kenneth Shropshire, WSBI director and a professor.

The program, which runs for six days—three days of classes and three days of follow-up sessions—is now in its second year, and Shropshire says it’s been a big success. “Last year, it started off with two schools, Harvard and Wharton. This year, we added two more schools—Stanford and Northwestern—and we expect it to continue to expand.”

Martin attended the program’s inaugural session last year. He has since invested in Fitness Stride, a resistance training product designed to help people lose weight and get in shape. Through his Kansas City, Missouri-based management company, Martin Management Group, Martin oversees administration, operation and marketing for Fitness Stride. “The Wharton program cleared up a lot for me at a time when I really needed some answers,” says Martin, who adds that Fitness Stride is putting together an infomercial and distribution deals. “Once the infomercial launches, we hope to start hiring people for various positions. Then we can move on to another project.”

Hardy Nickerson, 40, is another former NFL player who attended the Wharton program last year. Starting in 1987, Nickerson played middle linebacker for four different teams before retiring 16 years later. Nickerson admits he felt lost once he stepped off the football field. “I felt way behind,” he says. “It was like I was starting all over again. I had been financially smart off the field, but I knew when I retired, I wouldn’t be happy just sitting around the house and playing golf.”

Nickerson already had an idea for a business venture inspired by his NFL experience. During his career, he moved 29 times, leaving and joining teams as a free agent. Last September, he launched Nickerson Realty Group, which specializes in helping athletes, entertainers and executives relocate. Currently, Nickerson and his wife, Amy, run the company, based in Weddington, North Carolina, and they recently hired two brokers. “Not only do we handle real estate, but we help with [aspects] such as [telling clients] the best places to get a haircut, eat and shop,” says Nickerson. “It helps make the transition to a new city much easier.”

Although he already had the vision for his new business, Nickerson says the Wharton program helped him bring his idea to life. “It was very eye-opening,” he says. “The program helped me put everything together.”

Sam Boykin is a freelance writer in Pineville, North Carolina. He has written for Car and Driver, Maxim, Reader’s Digest, Salon.com, Sierra and US Airways Magazine.