Want to open a sporting goods / general store?

[Shadow14]

I have been thinking about opening a sporting goods store/ general store for years and have seriously started to consider it recently and I wanted imput from some folks who have been in retail and maybe more specifically in the outdoor/firearm industry on what the pitfalls are and what type of margin percentage I could expect. Any other related comments or advice or thoughts are appreciated as well. I know brick and mortar stores may be dying but the idea of owning an old school sporting goods store really appeals to me but I don’t know how feasible it could be. Im sure I would need to diversify my products to get people in the store and keep them coming back (feed, pet supplies, ammo, tackle, sundries ect) but the focus would be sporting goods (guns, bows, hunting and fishing gear). I think getting local vendors and quality products along with hometown customer service would be good place to start to separate myself from the bug bx stores along with maybe a bigger than average online store / marketing presence….

 

[Huntindog45]

you better have a lot of capital to invest. getting into sporting goods is difficult. Hell it is difficult to keep existing stores that already have name recognition alive. Sporting good stores operate on razor thin margins and it is difficult to compete with the large chains like sportsman's warehouse, bass pro, etc. Those stores can buy in massive quantities so they get their products at much lower prices and can charge less and still make more than the local mom and pop shops.

 

[BRTreedogs]

No direct experience. But I wouldn't want the record keeping associated with selling firearms.

And our local bow shop is so busy they can have 3 people working on bows all day.

 

[gman82001]

Be prepared to see a ton of people fondling your stuff then leave to buy it online cheaper

 

[Ferrulewax]

If it doesn’t have a MAP be prepared to make 10%-ish if you are trying to match the market. Of course if you’re in an area with limited stores or a good draw you can charge retail, but otherwise amazon and online sales are bleeding the market. I’ll chime in more when I have a chance

I’m in fly-fishing shop in the south, so not exactly the money zone, but we do ok. We carry primarily fly fishing gear, but I we also have a decent amount of sportswear, general outdoor gear and Conventional tackle. For most fly shops, sportswear and logo gear is probably what keeps the doors open logo shirts, logo hats, etc.. luckily most flyfishing brands do a good job of protecting dealers because it’s such a niche market so most of our distributors won’t open other businesses within the area to compete with us. This is changing slightly as companies become more and more greedy most brands also at one point had no direct to consumer sales so that helped to drive shop sells as well. Combine with that strict retail price policies, and there is a decent margin. This is the same way that your archery Pro shops and archery pro shop brands tent to run. (Matthews, ect)

in the outdoor gear and conventional fishing markets, all bets are off. For some of our stuff You can literally buy it off Amazon as cheap as what we can buy it for in the shop. Heck for butane fuel, we can buy it from Walmart and sell it for cheaper than we can get it from distributors due to hazmat shipping. The shops owners both have day jobs, but we keep about 5 to 10 guys employed. The shop really doesn’t turn it off of a profit to give either owner any kind of real income, after managers and employees are paid, but if you were dedicated to being in there every day, running the shop, you would probably do pretty decent. At the end of the day find a niche and stick with that clientele. If you are doing it to get rich find something else to do you also need a market that’s not crowded and has a demand for your services. Get a good logo and you’ll probably see your logo aware and souvenir stuff out sell any real technical equipment.

All of this was done on my phone, with voice to text. I promise my spelling and grammar isn’t that bad.

 

[Ferrulewax]

Be prepared to see a ton of people fondling your stuff then leave to buy it online cheaper

This. It’s honestly infuriating

 

[BRTreedogs]

A bar with only fried food and video poker.

 

[JFK]

I’d focus on service. Both initial customer service for the sale, offering legitimate knowledge of product, as well as offering services that you can monetize for repeat customers. If you sell bows, offer bow work and put a shooting lane in. Beyond that, I’d focus on offering quality. You will never match the scale of the big box stores but a lot of what they offer is low end. I’d start at mid tier offerings and go up from there. Many years ago I worked at the corporate level for a national retailer and inventory management was hugely important. Having stagnant inventory is money sitting on the shelf and it’s getting banged up every day. Finding things that move is important

 

[WeiserBucks]

My mom owned a sporting goods store for a few years. She was surprised to find that some manufacturers had large minimum order requirements, like $50k+ wasn't out of the ordinary.

 

[Laramie]

Find your closest Scheels, Academy, or similar. Get a job there- you will make as much money and have a lot less stress.

 

[CorbLand]

Everyone that I have ever talked to that runs a sporting goods business says the same thing. If you like hunting for yourself find a different profession.

I dont know about your area, but it seems like most people really struggle to find a good, reliable archery shop. That might be a decent starting point and it could be started out of your garage.

Other than that, I cant really help but wanted to throw it out there. Just thoughts.

 

[Shadow14]

Location is going to matter.

Be prepared for everybody to tell you how to run things. Or better yet all the folks who will tell you that you will fail.

I dont run a store, but can tell you that inventory will drive you crazy. If you don't have it on the shelf, they can order it just as easy as you can...So you stock up on the items that are moving. Soon as that extra inventory shows up. The tides will change and now everybody wants the exact opposite

Have you worked retail before, or had your own business?

no and no lol. I understand it is challenging and a very big risk which is the reason I am asking total strangers on the internet for some advice lololol. In all seriousness I do have some successful businessman I am getting help from and a friend who owned a farm and garden store for years. I dont know when/i this would happen its just kind of a dream I have and want to start learning more and figuring out how I could make this work.

 

[Shadow14]

Everyone that I have ever talked to that runs a sporting goods business says the same thing. If you like hunting for yourself find a different profession.

I dont know about your area, but it seems like most people really struggle to find a good, reliable archery shop. That might be a decent starting point and it could be started out of your garage.

Other than that, I cant really help but wanted to throw it out there. Just thoughts.

Ive heard the same thing from guides and game wardens; two professions I considered earlier in life lol

 

[Shadow14]

No direct experience. But I wouldn't want the record keeping associated with selling firearms.

And our local bow shop is so busy they can have 3 people working on bows all day.

You taking about Top Pin? That's a good bow shop. Range time is easy money. And I undersand that trepidation but I love old guns and would be more interested in selling guns like Guntraders does there in Redmond. There arent any good used gun stores in my area and most folks dont like dealing with a pawn shop. I cant imagine myself competing with new guns unless I become a preferred dealer for a less common manufacturer.

 

[Btaylor]

You taking about Top Pin? That's a good bow shop. Range time is easy money. And I undersand that trepidation but I love old guns and would be more interested in selling guns like Guntraders does there in Redmond. There arent any good used gun stores in my area and most folks dont like dealing with a pawn shop. I cant imagine myself competing with new guns unless I become a preferred dealer for a less common manufacturer.

If I was going to stay on the used firearm side, I would look into 2 additional things, indoor range and a kitchen. Learn to make a really good burger and fries/homemade chips. Call it Bang Burgers.

 

[Shadow14]

Well you are doing more research than I did, so props for that! 3 text messages and a whiskey, and I was the new owner of a driveline shop. Never having actually been in a driveline shop lol

It is amazing how much faster you learn, when its your money....If you have some good contacts that you can lean on, that will help quite a bit. All though some things you just have to learn on your own.

How old are you? Kids?

26 with two kids under 2 and more in the further Lord willing.

 

[IBen]

If it was me I’d do gear rental, used goods, consignment. Have a few items like bait, fuel, ammo, socks to get people in the door. Some specific things for your area. Become a dealer for a few products like boots or archery equipment that don’t require big financial commitment

 

[Ferrulewax]

Chiming in again. The most successful places in the industry that I know of are catering to tourists, beginners, and shoppers, more so than dedicated serious outdoorsmen. Just think of the specifics of gear we discuss here. It’s almost impossible to have the depth and specifics of gear that enthusiasts want, at a decent price-point. It’s much easier to sell shirts/beginner kits/sportswear to your non-enthusiasts to keep the lights on, and then having some technical gear as well. As a fly shop, our fly sales make up probably like 50% of our sales dollar volume, and sportswear is probably another 20%. However this breakdown is highly dependent on location and clientele. All this goes out the window if you’re in an affluent area, where the “beginners” can afford to drop 2k for gear for a single trip. Being in outdoor/fly fishing/gun shops in wealthy metro areas it’s crazy the dollar volume they do on high end gear- but again it’s not necessarily to enthusiasts, but just to people with deeper pockets.

 

[fngTony]

26 with two kids under 2 and more in the further Lord willing.

Is there another income in your household or nest egg of some kind?

 

[CorbLand]

Have you worked in a sporting goods store before? If not, it may be a decent idea to go work part time, nights weekends kind of deal in one just to see if you like it.

I have done that for 9 years and it has its moments but it does get old too. Yes, selling guns can be fun but it sounds a lot more fun than it really is.