Setting up a sporting goods store – a business that will make you sweat
Sport has become an icon of our times thanks to its countless benefits: personal improvement, possibilities of socialization and, without a doubt, the improvement in health and its consequent prevention of cardiovascular and metabolic diseases, such as diabetes. In order to practice sports, you need special attire and essential items when doing competitive sports, so setting up a sports shop can give you the economic freedom you were looking for. We tell you all about it.
See here the various businesses that are physical store
Requirements for setting up a sporting goods store
The following are the steps and requirements needed to set up a sporting goods store:
Qualification and opening: the first step is to go to the body that regulates the openings and qualifications of the companies, pay for the procedure and follow the steps that they indicate.
Merchandise: there are several ways to access the merchandise. The first is a franchise. To do this, you must investigate which sports centres offer this benefit, choose the one you like best and apply for the franchise using the application form. The second is to import the merchandise from abroad. In this case, you can import a single brand (already a leader in the market or not so well known yet in order to make the difference and exclusivity), as well as importing several brands together. The third option is to create your own brand, at least for the garments, importing items such as balls, bats, skates, mushrooms, etc.
Premises: a large and bright premises with a warehouse, with a spacious window with three or four mannequins will be all you need. Assemble the window with combined garments and the season you are in and that will be the best presentation card of your company.
Setting up a sports shop
To maximize profits when you decide to set up a sporting goods store, pay attention to these ideas.
Uniforms: Schools, hockey teams and many other sports have uniforms made. Regardless of the sport you have chosen (not the franchise as it is more strict), you can offer a service of making uniforms. In this case you will need a workshop, which can be improvised in a corner of your own home, as well as staff to help you with the making. This area of the business is very profitable, you will see how your profits grow.
Outlet: it is a very fashionable trend in the outlet. Even leading brands with impeccable careers use it. The only thing you will have to do is rent another outlet (near or far from the main one) and hire staff to take care of it. The outlet is a store just like the original one, where you can sell failed goods at a much lower price. The faults are, in most cases, unnoticeable (a stitch, a badly made seam, a small hole and so on). Also, in case it is your own brand and you are lucky enough to export it, the export surplus can go to the outlet.
As you have seen, setting up a sporting goods store is simple and, if you like the theme, it can be a lot of fun, especially if you have the possibility of becoming a sponsor of local sporting events.
Advantages of having a sporting goods store
One of the advantages of a sports business is that the target audience is very varied and you can have a business that offers products for different sports and exercises, also including children, men, women of all kinds who practice different types of activities, as well as seniors, including people with special needs.
Tips for starting a sporting goods store
Once the business plan has been completed and the investment in premises and inputs has been made, it is advisable to apply for a business licence and also for an insurance licence. You should consult with the regional agency and acquire the necessary forms and applications, then submit them and wait for approval before proceeding with the opening of the business.
Then, a visit from a trusted insurance agent will follow to discuss the need for liability and other insurance to protect against customer damage in the store.
Sporting Goods Store Success Stories
A successful company in this sector is Deportes Mazarracin, which specialises in football, tennis, paddle tennis and athletics, offering articles of very high quality and specificity, such as shoes and personalised sportswear. They also have an online shop.
Another successful company is Decathlon, which has multiple stores throughout the
Europe, is a reference space where you can find all kinds of products needed to practice any sport. With a very wide range of products, prices and quality that have made it a reference point for all sportsmen and women.
Problems that can occur in sports shop
One of the problems of a sporting goods store is facing competition from large stores and others of established brands. The proliferation of stores is due to the fact that more and more people are interested in exercising or practicing a sport to maintain their figure and have good health.
Another problem that can arise is that if you do not investigate the market, both with a demographic and competition analysis to know more realistically the possibilities of this business, you run the risk of opening a business for a market that is already saturated, which can subtract profitability from it.