A startup takes time and effort.
Starting your own business can be a very difficult and daunting task. While there is always the possible reward of being successful and profitable at the end of all your hard work and determination, there is also a significant risk of failing and not being able to get your business off the ground. The retail business is an extremely competitive one, and succeeding in the retail sporting equipment business can be a long and expensive process.
1. Find a suitable location for your sporting equipment store. Visibility and accessibility are key components of a successful location. Find a location for your store that will attract a lot of people, such as a shopping center or an outdoor strip mall.
2. Find a wholesaler of sporting equipment. You must agree on a suitable wholesale price so that you can turn a profit. Securing a contract with a reliable wholesaler is a crucial step in establishing a reliable supply of sporting equipment and other products for your store.
3. Start building a customer base. Visit local institutions, such as schools and colleges. Ask them if they would like you to be their sole provider of sporting goods for their athletic departments. Some of them will have existing relationships, which means it will take time to build a customer base. However, be persistent because dedicated institutional customers will purchase equipment from you for years to come.
4. Increase visibility of your retail business. Volunteer to be the sponsor of local sports teams. Displaying your company name on team shirts and banners may increase your company‘s visibility in the area and potentially your customer base.
5. Run advertisements. When you are first starting out, you may not be able to afford television or radio spots. Therefore, use more cost effective alternatives, such as Internet ads, newspaper ads and flyers. Over time, you may be able to run ads on local radio and television stations, ideally during sporting event broadcasts.
6. Strengthen your relationship with customers. Provide courteous and reliable customer service. Service damaged sporting equipment promptly. Building a strong rapport with your customer community will help your business succeed over the long term.