T-23

I was wondering if anyone own and ran their own archery proshop? I am 17 years old and going to be a senior and i was thinking about opening up my own proshop, so i' m kind of looking for advise as to whether its a good idea or not money wise. My dad seems to think that the people that run their own proshop have 2 jobs but i didn' t think thats right. Baisiclly i am asking if i open up my own proshop, will i be able to make a great living, like $45,000 a year or better, if any of you have any suggestions or comments it is appriciated. Thanks again!

Tyler

benhuntin

I dont run a pro shop but I have seen many in my area come and go.
Most of the pro shops that Ive seen start out as a part time operation and eventually work their way to a full time buisness. I know of at least 7 proshops that have opened in the past five years and all of them are closed now. This is in and around a city of close to 225,000 people. There is only one that has been in buisness for several years and is doing pretty good. I think the key to their success is diversification (They carry everything from archery , guns, fishing suppleies, and wildlife art etc.) and great customer service.
Are you just planning on selling and servicing archery equipment? Or are you opening up an all around sporting goods? Diversification makes a big difference\
in long term success.

Straightarrow

Tyler,

I also don' t own a proshop but I am a business owner and have operated my own business for more than 20 years. There is one truth that holds true in almost every business. For every successful business, there will be several that fail. The biggest factor, that determines which one yours will fall into, is the quality of the decisions you make on a daily basis. It' s not the ecomomy, the competition or the unemployment rate. Though all these can effect your business, it' s success is dependent upon making good decisions. Have you stocked the right products? Have you priced them correctly? Is your service as good as it can be? Do customers like doing business with you? Are you giving your customers more value for their dollar than they can get elsewhere?

I recommend you learn as much as you can about business in general, and apply it to the archery business. There are many helpful books on the market, that give valuble information on what it takes to be successful. Read as many of them as you can. If you make continuous learning about business and archery a lifelong goal, your chances for success will increase greatly.

Go for it, but only if you' re passionate about it. It takes a love of what you' re doing, in order to put in the effort needed for success. Good luck.

Len in Maryland

Some very good advise here. Just make sure you run it like a business. I' ve seen a LOT of archery shops fail because there were always the ' same old crowd' hanging around BSing. When customers walk in the door - great them and make them feel comfortable. We had one shop where they sat around drinking beer after 5PM. They only lasted a few years.

I could go on forever on this subject; but, much can be learned if you join the ATA and go to the their Trade Show. I' ve given 3 seminars on various business methods and will be giving 2 seminars this year on how to work on bows. There have been a lot of Dealers at my previous seminars who have expressed an interest in learning some new and different ways of working on bows. We will also be introducing the latest tools and give instruction on how they can be used more effectively.

cpahunter

T-23,

I help lots of folks start their own business - no pro shops thought. My first question is capital going in - how much. Second questionis is can you go six months without drawing a paycheck. Yea, I know that is severe but MOST owners do not draw a paycheck in the first four to six months. Why, not much business to start with and all the profit goes back into the business. In your case does the other store have the major lines tied up. For example, if Matthews, Hoyt, Bowtech, etc. is already tied up it is going to be even harder. Not that these are the only bows, but they are the biggest sellers and probably the highest profit.

Good luck.

CanAmMan

Len, Does the ATA have a website?

rcd567

Owned and operated one during the late 70' s till 80? Had other sporting goods in it too. Jimmy Carter was president. Interest rates hit 25%, gasoline rationing, and hard times. Guess thats why it didn' t work out. My advise is to carry some fishing stuff and maybe black powder stuff too. Do your research. Don' t carry the stuff the local Walmart does because you can' t compete. Be a specialty pro shop. Also have a range, even if its a short one so the customers can try out your bows. Make sure you have the ability to paper tune bows and test their speed. Fletch your own arrows and offer the customer the chance to pick out his own colors of fletching.

With interest rates at an all time low, it might be worth the venture. I' d certainly get my Dad involved because without him, you probably won' t find a bank to back you. (Sorry, but young adults normally don' t get much respect in the business world). Hope this helps.

Bob
Remember nothing ventured...nothing gained!

Macdaddy

T-

As a sporting goods manufactureres rep for 10 years I saw businesses come and go. The ones that survived then and still are prosporus today have one thing in common. The all have as close to 100% customer satisfaction. Not just with the purchase but the pre and post purchase. Lot' s of shop owners get synical about their customers that are " just looking" . Don' t go there. No one is ever wasting your time. You are always marketing even if you don' t make a sale. The company that I work for now is #25 out of 4500 in the nation, we do very well financially and are in a great location in town. Not because of our products or price but our quest for 100% customer satisfaction. I' m a professional and yes I know a lot more than the customer about what I do, but I' m not going to talk down to them, just help inform them and answer their questions.

After customer service.
1. location
2. own your location don' t rent. (might not be possible right now but work at it)
3. Let your cuso
4. You ARE the business you must be there as much as possible and you are representing your business wherever you are, especially when you hunt.
5. Keep some cool new products comming in that you can show off to potential customers. Most guys love to see new technology even if they never purchase it.
6. Hand out at least 500 business cards every 3 months, even if you are miles from your shop. keep at least 25 on you allways.

You get the picture.

And yes you can make that kind of coin. I just spoke to one of my clients that owns our local bow shop. There can be money in it. But he is there from 10 - 7 every day except mondays.

Good Luck!

Len in Maryland

CanAmMan:

Here is the link: http://www.archerytrade.org/

PAHUNTER21

This is not to sound negative or anything of that sort. I know T-23 is not trying to learn how to run a business from a message board, but I honestly think a good education beyond high school will greatly increase the likelihood of the " Proshop" succeeding.

Tyler doesn' t necessarily have to go to a Yale or Harvard, or even a regular old 4 year college to take the classes necessary for learning the business aspects of the world. Many Community colleges offer great small business classes that will teach him more than any message board.

With higher education, Tyler statistically will be more likely to yield more annual income than without it, as well as have something to fall back on if it doesn' t work out. Everybody knows that it is much harder to go back to school after you' ve taken time off.

My advice/opinion: Hold on to your dreams, do what makes you happy and the money will follow, but most of all.... try to get that education.

GOOD LUCK with what you choose!
-BJ