Why the Pickleball boom is already over

Open Your Relay Account Today: https://relay.yt.link/2WixLy9 Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. @bankwithrelay #RelayPartner Pickleball grew from 4.8 million players in 2021 to nearly 25 million just three years later. But behind the boom, the business of pickleball — franchises, equipment brands, and private equity money — is heading into a painful correction. Michael breaks down why the peak is already behind us. Get the 2-minute cheat sheet for this video → https://girdley.com/youtube 👇 SUBSCRIBE for more business breakdowns    / @michael-girdley   ------------------------------------------------------------------ ► Get my weekly letter to business owners: essential insights to run, grow, and stay ahead in your business → https://links.girdley.com/newsletter-yt ► For sponsorships or inquiries please reach out to: [email protected] ► Do you have a hat I should wear in a video? Send it to us: [email protected] ► Free events on all things small business: https://links.girdley.com/lectures-yt ► Deep dives on businesses for sale:    / @acquisitionsanonymouspodcast   ► Follow me on Twitter/X: https://x.com/girdley ------------------------------------------------------------------ The growth was driven by baby boomers who aged out of tennis and into pickleball. That demographic is now aging out of pickleball too. The youngest boomers are 62, Gen X behind them is 10 to 15 percent smaller and still working, and younger generations are choosing padel — a glass-walled, social-media-friendly sport — over pickleball entirely. The franchise model was structurally broken from the start. Gym franchises work because most members never show up. Pickleball players actually come and play. When The Pickler published its 2026 franchisee data, the typical operator was earning under a 5 percent return on a $1.2 to $2.1 million investment — worse than Treasury bills. The system has lost nearly $14 million in aggregate. Ball Club, one of the top five franchisors, stopped taking new franchisees. The equipment market is no better. Over a thousand paddle brands exist, but roughly 20 Chinese factories make all of them. Gamla Sports, one of the biggest manufacturers, filed for bankruptcy in 2026. Apollo Global's $225 million bet on Pickleball Inc. looks more like a fund-launch marketing play than a conviction investment. Court growth fell from 14% year over year to just 4%. The business of pickleball is in decline. The sport isn't — but anyone who bet money on it is going to feel the pain.