Looking At What’s Involved When Owning and Operating A Sporting Goods Business:
Internet-Based, or Locally Owned Or Both?
Generally, you have a couple of options. You can either set up a shop online, which is a much lower risk investment, or you can rent out a storefront and sell to your local community, which will take a little more money to start up.
If you open a storefront that doesn’t mean you can’t sell online, by setting up a website for your store, you can make more sales while still maintaining a physical presence in the local community.
Ideally, your store is going to be supporting local athletics efforts. This means little league games, local high school teams, local golfers, etc.
It’s probably safe to assume that you have a personal interest in sports. In fact, what your customers will really appreciate is a shop owner and employees who know what to recommend.
- The familiarity of the sports industry
- Knowledge of sports equipment
- Retail sales experience
- Customer service background
- List of Common Business Skills
Employee and Job Consideration During The Start-Up Phase or In The Future:
Approximate Daily Hours Needed:
If your business is Internet-based, your hours are as you dictate. If you own a storefront, you will generally hold typical retail sales hours.
Equipment, Supplies, & Services During Start-up OR In The Future:
Monthly Expenses and Operating Costs To Consider:
Pros and Cons:
- For the sports enthusiast, it’s a perfect business
- Sports-related items are popular
- It can be seasonal
- Sales can be dependent on the economic climate
Type of Customers:
If you already have a major chain in town, it may be a good idea to specialize and offer a more extensive selection of a few items rather than providing a little bit of everything, as larger businesses usually do.
For example, you may have a general purpose sports store in town, but do you are they dedicated entirely to sportswear, do they cater specifically to football players, hockey players, tennis, etc?
Your approach to creating sales is entirely up to you. Just remember to be creative, and that the best way to compete with a larger business is to capitalize on a niche market, or to offer a superior experience for a select group of customers.
What you’re really after is repeat business. Online or with a storefront, you want customers who keep coming back. The best way to attain this is by offering only products that you believe in, and by being able to make good recommendations to your customers. As the wise businessman says, a sale is just a sale, but a returning customer is invaluable.
According to IBIS World Industry’s 2009 report, “Sports participation drives demand for ‘sporting goods.’
“Persons aged less than 30 years and aging baby boomers are two demographics involving themselves with sports and recreational activities.”
Equipment and Supplies: