Opening a Sporting Goods Store
If you want to enter into the retail business, a sporting goods shop is one enterprise you can start. Do you want to know the most important decisions you have to make to open an athletics goods shop? Our guide has some basic tips in starting a sporting goods store.
Starting a sporting goods shop is one business opportunity for those who want to enter the retail business, especially those who have background in sports.
Here are some of the most important steps to make in opening a sporting goods store:
- Determining the type of store you want to run - Will it be a discount store, a specialty shop, or mail order business. Most sporting goods stores are run as discount or department stores.
- Determining what type of merchandise to sell - Will it be clothes, shoes and accessories or equipment like boats and motors or a combination of these? Is there a niche market to sell to? Is the population of the place where the store will be located avid supporters of any popular sports, such as water or snow sports?
- Determining the size of the store - How big or small will it be? If you want to open a large store, you can carry merchandise for all major sports teams. But if you are starting small, concentrate on the local teams or those that are most popular in your area.
- Determining the location - Will it be in a shopping mall or near sports or recreational centers such as a lake, a resort or ski area? Is it a free-standing store? If it will be based in a community, will the population be large enough to support such a store? Are there competitors with whom you will be sharing the market? Will the market be able to take in another sports goods store?
And here are some tips in running a sporting goods store:
- Stock more on generic sports clothing and shoes, and less on specialty items (unless you are a specialty store). Know the sports that are popular or that are coming in season. Stock on items used for these sports. Also, keep yourself abreast about sports trends so that you can predict what items you should be buying more and what items you should be buying less.
- In displaying goods such as balls, golf cups, racquets, caps you can maximize a small store space by displaying them on walls, ceilings and floors.
- Aside from the usual radio ad, newspaper ad and telephone listing, promote your business by sponsoring for a local sports team.
- To avoid the hassles of starting a store from the bottom up, you can opt to franchise. Franchising allows you the use of a proven business strategy and a recognized brand name.
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