How to open sports shop business



Virtually any owner of a shop, no matter its type, would agree that the two vital factors in running such a business are location and a thorough research regarding the customer’s needs and preferences. Unfortunately, the mere idea or vague vision of such a business may not be enough, therefore it is important to plan every step of our activity. However, if you have a flair for selling and, additionally, you find it easy to systematically carry out a previously sketched business plan, then opening a sports shop is an idea for business worth considering.

Formalities

Before opening a sports shop we have to fulfil standard requirements connected with running an own business. Next, a very important step is choosing a proper location. At this point, it needs to be noted, that the most attractive locations usually generate considerably higher costs. Nevertheless, a huge advantage of such locations is the fact that they enable us to acquire a greater number of customers. Obviously, the costs can vary greatly, depending on whether we decide to rent a business establishment  or buy it.

Although an attractive location equals considerably higher costs, such locations always enjoy huge popularity on the real estate market. Consequently, it is important to start looking for our business space well in advance.

The purchase of building area is connected with the necessity of acquiring the proper permits (e.g. building permit, occupancy permit).The disadvantage of such an option is the amount of time needed to comply with all the formalities. This factor directly influences the estimated time of the investment completion. If we decide to rent a business space, we will only have to acquire the occupancy permit.

The range of products

The selection of products available in our shop should be directed to a wide group of potential customers. Moreover, it is important to construct our offer in such a way as to include the products from various price segments. Thanks to such an approach we will extend our offer which usually has a great influence on the sales figures.

Moreover, because of the fact that running a sports shop is a highly seasonal business, a common practice is offering products that are most popular in a given season. By ordering products directly from the manufacturer or the wholesaler we will be able to get attractive discounts.

Additionally, many sports shops regularly cooperate with different professional clubs representing a variety of disciplines. This important suggestion should be taken into account when preparing the offer.

Estimated income

Our potential income depends on a multiplicity of factors, which are not always possible to enumerate. The biggest influence on the success of our business will have a rich and diverse selection of products and an attractive location of the shop. The major costs will include the purchase of products, purchase or renting of the business space and employing the staff. The estimated amount of money required to run a sports shop is between $150,000-$200,000.

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