Starting a sporting goods store requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell sporting goods, or selling sporting goods online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a sporting goods store ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$750||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Equipment & Supply Expenses||$566||$5,700|
|Business Formation Fees||$5,600||$20,400|
|Retail Business Expenses||$1,250||$11,650|
|Advertising & Marketing Costs||$75||$5,286|
|Total Startup Costs||$9,207||$76,247|
|DICK'S Sporting Goods||dickssportinggoods.com||#2,255|
|SportsDirect.com – The UK’s No 1 Sports Retailer||sportsdirect.com||#8,476|
|SCHEELS: Discover Your Passion||scheels.com||#23,652|
|BBB Sports® Official Sporting Goods Store||bbbsports.com||#31,670|
|Mitchell & Ness||mitchellandness.com||#69,609|
|Flexibility||You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.|
|Ability to start your business from home||It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!|
|Meaningful business connections||You never know who you will meet as a sporting goods store. This could be the start of an incredible business opportunity!|
|High customer retention rates||Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.|
|Easy to encourage "impulse buy"||In the sporting goods store, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.|
|Unlimited income potential||With starting a sporting goods store there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.|
|Longer Sales Process||A sporting goods store can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.|
|Low margins||The gross margins for your sporting goods store are typically around 37%, which can make it more challenging to incur new expenses and maintain profitability.|
|High employee turnover||In the sporting goods store, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.|
|Taxes||As a sporting goods store, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.|
|Niche Market||A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.|
|High overhead expenses||With starting a sporting goods store, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.|
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
A partnership is a formal agreement between two or more entities to oversee business operations and share profits and liabilities.
Creating strategic partnerships with an existing business can be a huge win for a startup.
This is considering that a partnership creates a new slate of future options for your startup.
On the other side, pursuit of partnerships could suck up a ton of time, and bunch of resources, and fail to materialize.
Therefore, entrepreneurs need to do proper research and evaluate the possibilities of achieving success through partnerships.