2 answers

How to start a business sporting good business

2
100% of 2 Pros
Asked Viewed 99 times Translate

I want to learn how to start and retail a sporting #business #entrepreneur goods business

2
100% of 2 Pros

2 answers

Moriscia’s Answer

0
Updated Translate

Hello Bryan,

Regardless of the business you are starting, the first thing you need to do is a business plan. This plan should answer the follow questions;

  1. Type of business. You said sporting goods. Will this mean a wide range of products or specializing in a specific sport? Will you creating the sporting items or buying and selling?
  2. What segment of the market are you targeting: Adults, children, both, women, me , both, high end goods for a niche market or reasonable and affordable goods for the everyday consumer?
  3. Are you setting up a store or doing this from home? Look at the cost to do either/both: look at setup and operational cost for 6 months.
  4. How will you financing this business?
  5. What are the market conditions for your business and area? For example is there a need in your area - are there many schools or sporting facilities nearby? Is the economy doing well?

Next you will need to do a feasibility study to see if the business plan is sound and that this business is viable. This study specifically looks at need for the business, targeted area of the market (#2 above), setting up a store versus working from home/storage facility and market conditions.

You will then need to source the supplies that will help execute your business idea. Look at cost versus quality of product and the business’s values to ensure these align with you plan.

I hope this helps and good luck.

0

Jennifer’s Answer

0
Updated Translate

Hi Bryan,

There are several aspects that go into starting your own business! For starting a sporting good business you will first want to design and create a prototype of the product you want to sell. From there, you can work with a factory to get your prototype produced. Once that is completed, you can then begin to sell your product! I would suggest building a website and utilizing social media or a kick starter campaign to get the capital you need to produce your product in bulk.

If you are interested in schooling to learn more about starting your own sporting good business the University of Oregon has a Masters Program in Sports Product Management that focuses specifically on learning about the sports product market!

0