Managers in the sport management industry sector expect graduates from undergraduate sport management programs to have extensive practical experience and to demonstrate employability. This Australian-based study explored how practical experience can align undergraduate sport management industry sector learning with associated graduate employment. Specifically, the study identified awareness factors essential in the preparation of sport management (SM) undergraduates for undertaking practical experiences and developing employability. A job advertisement audit of 200 graduate-entry SM positions stipulating practical experiences and a tertiary qualification were analysed. The findings revealed six industry awareness and four self-awareness factors -- each is associated with SM industry sector employment and requisites for developing employability. Collectively, these factors formed a Pre-Condition Phase developed as a preparatory phase to the established Experiential Learning Cycle (Kolb, 1984). Practically, 22 recommendations have evolved and are proposed to guide the SM industry and higher education sectors to collaboratively develop undergraduate employability through industry exploration, self-awareness and practical experience.