HOW TO START A SPORTS STORE BUSINESS
India is one of the largest countries in the world in both area and population. Our country has a great tradition of sports. Before our colonization, there were many indigenous sports that people participated in such as Gilli-danda, Pahlawan (wrestling), kho-kho, etc which have made their name popular in the international arena or have been adopted by the world in different forms. It was during the British presence in the 18th and 19th centuries that India was introduced with the competitive spirit of the game and sports like Cricket and Hockey were introduced to us. It was their system and discipline that was adopted by Indians and now we have mastered it. Now, cricket is undoubtedly the most popular sport in India with average viewership 733 million for any celebrated match. India has made its presence felt in international sports competitions in various other sports in competitions such as Olympics Games, Commonwealth Games, Asian games, etc. and has won many medals. It is with time and from the beginning of the 21st century that the investment and interest of people in sports and fitness have increased manifolds. With technological advancements and the availability of sports facilities to common people, many have shown their hidden talents and strength to the world. This rise in people’s interest in sports has also led to the inauguration of a new market which is the sports accessories and products which is the backbone of the sports industry. There are many manufacturers present in the world, who are making products and gadgets to make sports more fun and easier and to keep injuries at bay, it the sports store that sells these products to the common people and works as a middleman and a god sent messiah because without them it wouldn’t have been possible for common people to get access to the variety of sports equipment. This business is very profitable and high in demand.
Let’s have a look at how you can start a successful Sports Store Business:
Decide on product
There are numerous sports and the requirements of the sports equipment and accessories are uncountable, you have to first decide what are the products you want to sell. Do you want to go for regular sports such as badminton, cricket, football, etc or you wanna go for less practiced sports such as golf? Will you be also selling sports apparel? Your sports store business will expand and the list can always increase but decide first what is your introductory range and how influential it is and will it get enough attention.
Decide on the size of business
The business has a lot of scopes to grow but keeping in mind that you are starting a sports store business and this industry already has a lot of investors, you should consider how much money you’ll be ready to put at risk. Arranging resources for it can be a task in itself, it is better to start small and develop as your customer base develops.
License and Permit
To start any business in India, you need to have legal permission sorted beforehand to avoid any hassles with government officials. Your sports store business will require the same. You’ll need to get yourself registered as a business person, get all the necessary approvals, and get all the documentation handy.
If you are making your new brand, make sure you get a patent by your brand name so no one can copy your products.
Storage space and Location
Even if you are making your products or just selling products from different brands, you’ll need storage space. Depending on the size of your sports store business, get yourself a storage space big enough. If you are opening an offline, in-person store, rent a place that is near a sports stadium and is accessible to people who visit the stadium. When you are arranging products in your sports store, make sure to arrange them wisely. Keep the trendy items in the front so whenever youth come to visit your shop, they are eager to buy them.
Have the right distributor
Make sure you have a distributor who can easily make you available with the supply whenever you demand them and have access to the latest product required by you at all times. Sports accessories change rapidly according to technological advancement and trends by the meccas of the sports. Sports enthusiasts are eager to get those products as soon as they come to market.
Setting up any business requires a strong local connection and communication so that the business can propagate but with the rise in the use of e-commerce, things have become a lot easier. Make a website for your sports store business and set delivery boundaries according to yourself. Arrange your products in different categories and use various models and tools which are available online to make your website catchier and more attractive.
Social Media presence and Marketing
Be ready to do a lot of marketing. Social Media is used by almost everyone around the globe. It is almost certain that at least one person in a household must be using any social media platform. Putting up pages on Facebook, developing a strong SEO, and investing in marketing offline can bring great audience attraction to your store. Putting up ads with discounts and amazing offers are always a plus. Along with online, spending on offline methods to propagate business is necessary. Go old school and hand our pamphlet whenever a customer arrives. Since you already have an offline store and most customers who have done business with you will keep your number saved, you can invest in WhatsApp Business and use its marketing tools to propagate your business. It is convenient to use and digitally provides a personal touch as the medium is one to one messaging which has become one of the best provisions of converting prospects to customers. Remember to greet them nicely and make them feel important.
This is amongst the first things to do. You are setting up a spice business that will demand a considerable fund, a principal investment. Get yourself sponsors who are willing to support a local business and have your back.
Get Help from Influencers
With the rise of social media, people have brought their talent in front and have garnered appreciation for their skills and hard work. Sports and fitness is one such sector where the number of influencers is in abundance. Get the help of a local influencer and ask them to promote your sports store business. You can provide them with a few new range monthly to advertise you and both can get profit from the deal.
The market for sports equipment and accessories is never going down and with the rise in awareness of people about keeping their body fit, we know that this is a very good investment for those looking to start up their journey to entrepreneurship. Understand that this market has a lot of competition and there will be good and bad days. Be ready for them and keep working hard. All the best!