How to open a surf shop?
Surfing is a passion for many, as most of us do like to ride the waves and get out there in the ocean. However, not every one of us would make money off it by competing. An alternative instead is to open your own surf shop. Doing this is pretty easy, as long as you know what to do and have the money to go all the way.
Do surf shops make money ?
Although it may not look like it at first glance, surf shops actually do make money, and even have one of the largest shares of the industry’s profit. More precisely, shirts, shoes, board shorts, swimsuits, jackets and pants are among the most profit-making accessories in the industry and are all found in surf shops. Selling these items is sure to give you a profit, especially if you offer online sales.
With surf shops, the idea is to basically buy directly from the best brands without the extra cost of commissions and middlemen, and then sell for a profit to customers. This is the best way to make your product market-friendly and maximize profit. But the question remains: how to open a surf shop?
Step-by-step approach on opening a surf shop
Starting your own surf shop requires a good amount of capital, understanding the market, and of course, the entrepreneurship drive to make things work. Here is a step-by-step approach on how to go about it:
How to start?
Yes, the first step to starting a surf shop is by determining how you want to start. You have the option of building things from scratch or simply buying out an existing store. The option you go for determines the amount of capital you would need to a large extent. After settling on one, map out a plan to raise funds if you do not already have it.
Prepare payment avenues and estimations
In today’s world and the nature of businesses require that you have different means of accepting payments from customers. Customers may pay through debit or credit cards, checks, cash, or more. If you are going to be offering online services, you might want to look into e-wallets too. After this, create an estimation of your expected income within a specific duration (yearly preferable). Work out the items in your shop and their respective prices.
Know your business
At this point, take time out to identify and understand your customers. Identify surfers in the area your shop is located and how to win them over. Also, consider your shop’s location, is it visible enough? Is it easily accessible? What are your working hours? Put the answer to all these together, and you’d have a good plan to work with.
Also, keep in mind that most surfers today purchase their equipment online, therefore you might want to look into having a website or an online store to also benefit from that market.
Develop services outside sales
Yes, all surf shops sell items and there’s nothing distinct about it. However, outside these things, what other services can you offer? Consider surfing lessons, repairs, rentals and more. The more you offer, the more your clients. Also, remember to set attractive discounts and special offers for your business to look more appealing.