I want to open a sporting good store

[NathanY]

I know that there is a member here that has one, but I dont remember who it was. I would like to know what it will take as far as operating capital, and startup money. I have a site picked for it. It is right in the middle of town, lots of traffic. The closest sporting good store is 45 minutes away in Fort Worth. I am centered between two big lakes, Bridgeport and Eagle Mountain. This is something that I have wanted to do for a long time, and I think that now is the time.

 

[JB]

Re: I want to open a sporting good store

In the middle of Springtown or Pooleville, Nate?<br /><br />Springtown sounds like a good location. . . on the square.<br /><br />I would suggest Whitt, but you might not have more than 3 or 4 customers.

 

[heycods]

Re: I want to open a sporting good store

Someone has got to be a Basturd so let it be me.<br />Im not trying to rain on your parade, But tell me why you think your mom and pop sporting good store<br />located between Bass Pro and Cabellas will fly? How are you going to compete with a Wall Mart type of buying power.<br /> If you were telling me you were going to open a marina on a lake selling bait meals fishing supplys, and sidelineing guns reloading supplys ect. and you have the capital to start the venture without borowing and having to pay intrest I would say go for it.<br />Ok everybody Jump on me for asking.

 

[rodbolt]

Re: I want to open a sporting good store

well if its near a post office ammunition sales may be good .

 

[KRS]

Re: I want to open a sporting good store

contact your small business development center at the local college, they have a rep that should be able to provide expert advice.

 

[scrapper]

Re: I want to open a sporting good store

Hey mabee a floating tackle / bait /resteruant out on the lake ?

 

[heycods]

Re: I want to open a sporting good store

Originally posted by scrapper:<br /> Hey mabee a floating tackle / bait /resteruant out on the lake ?

Ill go for that, especially with a drive up bar and resturant for the overnighters.<br /> I realize hes not between Bass Pro and Cabellas, but if they were 45 min from me thats probably where I would go, Nearest thing around here is Acadamy in abilene , Its 1.5 hrs away, you would think the sporting goods store deal would work here. It dont its been tried and tried and tried, they always go busted, But we aint in the metro area. So I dont know. Just hope he dont get burned.

 

[OBJ]

Re: I want to open a sporting good store

Me and my Dad opened up a shop just off the main drag of our little town just about 17 years ago. Figured it was time to make a little extra money for the repairs we'd been makin' for free for so many years. Well, Mom said OK I'll run the store and you two run the shop. So she found suppliers and what not and started stocking. The big find was American Rod and Gun....same supplier to Bass Pro Shops. Won't lie....first couple years was lean. But we survived and are doing very well......EVEN...with a Wally World 15 minutes to the West and a Cabello's 20 min to the East.<br /><br />Yes Cabello's is big. I been there. Prices are high. Walley World lacks in quality. They don't stock near the variety or quality of bait and tackle my little shop does. People see this and come back.<br /><br />There are tricks to all trades. One thing we found out was if we catered mostly to what our local fishermen need, we gained business. We stock what they use for local fishing and local boating. Take a look at your area and see what hot and what's not.....generic way to put it....but it works.<br /><br />But be ABSOLUTLY sure this is what you want to do and are prepared to put in a very lot of time to your business.<br /><br />Small business loans are out there. A ton of paper work but worth it. As KRS posted, see your local Small Business Buerau. They can help.

 

[kenimpzoom]

Re: I want to open a sporting good store

I suggest you have enough money in the bank to be able to survive for two years without making any profit.<br /><br />It will take at least that long to develop word of mouth that you exsist.<br /><br />Drive around those two lakes and count how many people are actually fishing. Try to find out where they live and how they got to the lake.<br /><br />Usually people plan ahead and get everything in advance before going fishing/hunting becuase they know there is nothing there.<br /><br />It will take them several trips to discover your store is there.<br /><br />You really need to find out how many locals would use a small store. Usually most people will drive the 45 minutes to a store they know has it, rather than shop at a local mom and pop that probably wont stock what they want.<br /><br />My 2 cents.<br /><br />Ken

 

[neumanns]

Re: I want to open a sporting good store

I don't now if it is a blessing or a curse but there is a baitshop/tackle in every gas station up here. Cabelas is 2 hours and we got Gander Mountian at 25 miles as well as reed's (a Large independent) also at 25 miles. We also have wally world and mills fleet farm in the mix.<br /><br />Here's my opinion on what it takes to make it...SERVICE, Good old fashioned knowledgable friendly service.<br /><br />Every fisherman I know will drop into a baitshop with a friendly reputation and drop a few dollers while there there regardless of price...It's all about "being there" regardless of price and selection, decor.<br /><br />Dont go nut's on stocking every item...If they want to find miricle lure xydba in a 4" firetiger let them drive to cabelas! Ya aint gonna make a living selling two of those lure's a year.<br /><br />But that guy that spend's $6 at your store on somting he does or doesent need on every trip to the lake is your bread and butter. He didn't stop because he needed that item, he stopped to visit and just "stop in"<br /><br />Course that is just my view, What do I know...Im just a guy that drives past 3 baitshop's to get to the one I like and when I get there I lay my $6 on the counter for pack of hooks of the same size and style that I already have an unoppened package in my tacklebox and a cup of coffee.<br /><br />Good luck Nate!

 

[aspeck]

Re: I want to open a sporting good store

The local sporting goods store that does well in this area has a video archery range and a paper range. They are always organizing tournaments and offering prizes. This gets people in the store, they almost always buy something, whether it be some new archery gadget to improve their scores, or some fishing equipment, or hunting equipment.<br /><br />You just have to do something creative to get people in the store. Is there enough room in the building you are looking at to install an archery range?<br /><br />By the way, there are people that drive 30 and 40 miles to take part in the tourneys.

 

[tommays]

Re: I want to open a sporting good store

In my area we have a lowes/home depot/whatever/ on every corner<br /><br />Well there are MANY MANY lumber yards that do just fine and a LOT of SMALL hardware stores that do GREAT because of service<br /><br /><br />tommays

 

[Ron G]

Re: I want to open a sporting good store

Every lake i go to i stop in the local shops to see what the locals are throwing,some of the best stores i have been had better selections of baits then wally world could ever have and the ones with the most bussiness sold sauge and tenderloin bisquits the good stuff.best of luck nate and if ya do open one up the next time im down that way i'll stop in.<br /> Thats been a dream of mine for along while too.

 

[ob]

Re: I want to open a sporting good store

I agree with aspecks message.You gotta have something that sets you apart from the big guys.Something besides a smile and a handshake.It could be even in the form of exclusive products/services not carried by the big guys.Bottom line is ,if the business draws people and money,it also draws attention from competitors.If your attitude is positive and professional going in ,and you perform a bit of research,it could be fruitful.Keep your overhead as low as possible and choose wholesalers carefully and you can even compete pricewise.Good luck.

 

[treedancer]

Re: I want to open a sporting good store

Its also nice to have a pot of fresh coffee in the morning, wont get that at Wally world.

 

[LubeDude]

Re: I want to open a sporting good store

You are getting some great advice. I live on a great fishing lake, and the Local tackle shop here went out of business even though they had pretty good selection. Why, well, it was (IMHO), because of failure to actually cater to the fishermen. Go figure! They opened at 9:00 AM. They should have been open at 5 AM durring the fishing season with hot coffee and Pastries if not free then at a reasonable price. You have to show that you are there for the fishermen! I even had a talk with the guy that owned it before he went broke, as he was complainin about business and all he would say was. "Im not getting up that early for knowone"!

 

[Ron G]

Re: I want to open a sporting good store

LD is right on about the opening part,there was a bait store here stayed open 3 months for that same reason they would'nt open until 8:00 everbodys already on the water by that time.We went to one down in al. and they opened at 4am and had sausage bisquets and cofee for 2 bucks,by 6am all the bisq. was gone.and im talking about trays full plus he had all kinds of baits.

 

[bootle]

Re: I want to open a sporting good store

Nate, Having been a retailer for the last twenty years, the best advice that i can give you is to be patient and don't rush into anything without a lot of research, start with an updated demographic report, also talk with the folks at your local chamber of commerce.<br />Retailing means putting in long hours and there are no shortcuts, adequate financial standing for at least the first eighteen months is normal, but with todays fickle economy i would be conservative and say two to two and a half years at best.<br />Building a good relationship with your suppliers is as important as your relationships with your clientele, and that takes a lot of time and patience coupled with the single-minded will to succeed, retailing in todays market is not for the faint hearted, one is required to be extremely flexible to make bold decisions, as they say to be able to turn on a dime.<br />Have you had any past in-depth retailing experience?

 

[KRS]

Re: I want to open a sporting good store

Just sell your soul now and get it overwith

 

[JRJ]

Re: I want to open a sporting good store

My tackle shop has free beer in the morning and free coffee in the afternoon. Sometimes ya just gotta roll with it Good luck and I hope it comes together for you.