Tips on Running a Sporting Goods Business

So, you have decided to open a store for sporting goods. Confused where to start? There are different factors that need to be taken into consideration to ensure your business takes off. Listed throughout this article will be advice received from business coaches who believe there are certain things you need to take control of when getting into the sporting goods business. We have taken parts from business coaching programs to give you the best information available for this specific industry.

What better way to learn about the business from other successful retailers that specialise in sporting goods? Find the goods that athletes wear and what they prefer then to find the best software to track and sell each order you have. In order to do this, you need to have some training. Ensure you have some contacts in the sporting retailer industry and have experience managing a store before you open one. Make sure to carry out all the legal requirements and you will need to get an ID number which can be obtained by the IRS. You also may need to register with the state commission. Your local government with have all the information you require about the legal side of running a business.

soccer ball

Identify your target audience

Creating a certain approach to customer service and how your products are selected. You should only stock your business with the sporting goods and merchandise that is targeted towards the certain niche of customers you have. If you are hoping to specialise in the distribution of the latest sneaker releases for athletes who play or have an interest in basketball or maybe you just want to exclusively sell selections out of limited release sneakers, you need to find your target audience and stick with it.

Make a customer profile for the sporting goods that are within your business, There are normally four categories known as: sports enthusiast, sports fans, licensed sports teams apparel sale and sports teams. Based on the location of the store you will need a demographic profile that is of your perfect customer. This will come in handy to shorten sales cycles, develop better customer service techniques and have the ability to identify opportunities for repeat sales.

Ensure you hire the employees who have sporting goods experience. Look for workers who have no more than three years’ experience with sales. Those with experience working in retail, customer service or hospitality will be your best options for a team. As you need a team of staff who not only communicate with customers or clients but know how to built rapport and develop different relationships with each individual customer. No two customers are the same just as no two team members are the same, accommodate for different situations and different types of communicators.

Your sales manage will need to have knowledge in the sports world or be a sports enthusiast to ensure they can assist customers with questions and the right quality of service.

tennis ball
tennis racket

Tips to take on board:

Contact a few different insurance places that cover losses and damages to the store in case of any emergencies.

The success of your store will all depend on how happy your customers are and how much money they are willing to spend on the products you either create or distribute.

Focus on repeat customers, keep them coming back for more.

Train the employees to know product recommendations and to entice customers to spend more and take you up on the deals offered.

Ask your repeat customers once a year to complete a satisfaction survey which will help you to determine what areas you need to improve on and then put a plan in action on attacking those areas and making the necessary adjustments.

Find a good wholesaler who can help you to stock good quality sporting goods or whatever it is that you are selling.

Ensure your sporting goods store stocks items that fit in with the locals. Don’t limit your stock to the locals, those travelling may want to make purchases too. Just think on who your more frequent and consistent customers will be and make an environment that will better suit them.

It is important to realise that you may need to look outside the box when it comes to having success when you are running a sporting business. Try and get well-known brands on board and ask them to consider your store somewhere in their advertising to help give you a head start. You need to not only thrive on the fact of opening your own business, but you need to be excited and enthused as well as knowledgeable on the subject that you are wanting to create your own store in.

Running a sporting goods store isn’t a stressful activity, just make sure that you follow the steps outlined to make sure of this opportunity and make a profit!