How to Start a Sports Store
Although they can be expensive to get off the ground, sports stores can ultimately be successful and rewarding start-ups for sports enthusiasts. They offer a connection to community teams and a chance to help budding athletes. Before you open your doors, do your research. Consider how you can specialize your business, differentiate yourself from local competitors and attract a specific target market.
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Write a business plan for your sports store. Research local competitors and determine who their target clientele are, whether they specialize in equipment for specific sports and what differentiates them from other sports stores in the area. Consider how you can set yourself apart from existing competition by focusing on equipment for certain sports, selling just sporting apparel, selling used sporting goods or offering equipment rentals or lessons. Other ways to specialize include focusing on outdoor sports such as hunting and fishing, winter sports or water sports. Research the cost of rental spaces and equipment. Determine how many employees you’ll need and how much you’ll pay them. Create a marketing strategy to advertise your services.
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Apply for a business license and insurance. Check with your city hall and acquire the necessary forms and applications. Fill them out and wait to receive approval before proceeding. Visit a trusted insurance agent to discuss the necessity for liability and other insurance to protect yourself in the case of customer injury at your store.
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Choose a location. Find a storefront location in an area that will receive both foot and driving traffic. Make sure there is adequate parking and space for your equipment. Visit popular local shopping malls and inquire about rental space. Consider locations near recreational areas such as lakes or ski resorts. If you are strapped for start-up funds, start your store online and rent a space when you have funds available.
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Purchase equipment and supplies. Do substantial research online to secure the best prices. Focus on wholesale sporting goods suppliers who offer better deals if you buy in bulk. Consider selling both new and used equipment to save money and attract a wider range of customers. Visit yard sales, estate sales, auction websites and local classified ads to find cheap, used equipment.
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Hire employees. Hire only the employees you need, or consider running the store yourself until you begin to attract business. Hire employees with sales experience in the sporting goods industry if possible, or those with a strong interest or knowledge base in your store’s area of specialization.
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Market your sports store. Place ads in local newspapers and sports-related publications as well as on local, sports-related websites. Consider creating spot radio ads for your store and television ads if you can afford it. Sponsor local sports teams to get their business and increase word-of-mouth advertising. Set up a grand opening and invite the local media. Ask well-known local sports figures to participate by giving speeches or simply attending. Plan raffles or giveaways and allow prospective clients to tour the store. Distribute coupons, business cards and fliers. Create a sign-up sheet for a mailing list so that you can send coupons and other information directly to interested customers.
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Writer Bio
Megan Martin has more than 10 years of experience writing for trade publications and corporate newsletters as well as literary journals. She holds a Bachelor of Arts from the University of Iowa and a Master of Fine Arts in writing from The School of the Art Institute of Chicago.