Tom Graham's sweet smell of success.

• Author: Schley, Stewart
• Position: SPORTS biz

The last thing you'd think, knowing that Tom Graham once ground out a living as a middle linebacker in the NFL, is that the guy would be all gaga over fragrances. But here's Graham, father of Broncos tight end Daniel Graham, talking excitedly on his cell phone on a Thursday morning about ... candles.

Candles! The kind with wicks. The kind that make your den smell like a Girl Scout cookie.

"I'm a bit of a romantic. I love candles and fragrances," Graham says.

He must. For years, the former Bronco has been trying to launch a business that revolves around the seemingly incongruent pairing of football and scented objects.

Now, Graham's finally getting so close he can smell it. His Denver company, Pro Freshener, is about to go to market with a collection of fragrance diffusers, candles and air fresheners emblazoned with NFL logos. It's a business built on simple observations: Lots of people buy candles and air fresheners, and lots of people love professional football. Also, as Graham knows, the NFL wants to broaden its appeal to women. Putting three and three together, Graham figured he could make a good living making and selling inexpensive air fresheners and candles stamped with team logos.

Sensible enough, but as Graham has discovered, starting a business that requires approval by the licensing people at the NFL has demanded every bit of tenacity the 57-year-old Graham ever displayed on a football field. "They are very strict and very good at guarding the brand," he says.

Graham thought he'd be in business years ago. But when a partnership as a sub-licensee to another manufacturer unraveled, Graham had to apply anew for his own NFL deal. He might as well have tried out for the Broncos as a 52-year-old.

The NFL doesn't just dole out licensing authorizations. Getting approval to sell a T-shirt, cap, desk lamp or poster featuring an NFL Properties logo is like submitting to a friendly FBI debriefing. League officials demand detailed financial statements, business plans and profitability metrics from their licensees. And once you get one, the heat turns up instantly: You've got one year to prove to the league you can meet your numbers.

To get his application in order, Graham sought help from Ron Rizzuto, professor of finance at the University of Denver's Daniels...