Research Paper

my7pointmonster · 02-04-2008, 08:18 AM

For my senior project, im doing owning your own archery shop, any information you guys could give me to help me such as costs to start an archery shop, anything you guys know and can help me would be great.

Ryan.

GMMAT · 02-04-2008, 08:26 AM

Leasing or building?

Figure:

Upfit costs
YOUR time
Labor (employees)
Labor burden (ins., benefits, etc... for employees)
Taxes
Operating costs (utilities, water, sewer, etc...)
Inventory investment
Range expenditures (Incl. insurance, cost of animals/targets, upkeep, etc...)
Advertising
Equipment to conduct your business (Press, saw, tools, etc...)

I'm sure I'm leaving out things....but this will get you in the right frame of mind.

mobow · 02-04-2008, 08:35 AM

Let's not forget inventory (or is that what upfit cost is, Jeff?)

Inventory is a large undertaking. Bows, strings, cables, rests, sights, stabs, arrows, points, nocks, bushings, inserts, vanes, feathers, cresting materials, broadheads, releases........this list could go quite a while..

GMMAT · 02-04-2008, 08:42 AM

It was on there Mo (#7)

mobow · 02-04-2008, 08:44 AM

Yeah, I knew that.........[&:]

Did I mention that I think the monday following the Super Bowl should be a national holiday??

Gundeck · 02-04-2008, 10:05 AM

What do you mean, Mobow? It is a national holiday (just not in the US). It is Constitution Day in Mexico. It is also Carnival in a lot of South and Central American countries.

Back to the topic at hand, don't forget to figure in things like "am I going to offer employee discounts?". These things can eat a hole in profits quickly. And, let's not forget.....location, location, location!

Austin/WI · 02-04-2008, 10:25 AM

I'd something like this in highschool but it was with a sporting goods store. You'd be surprised how many biz owners are tickled to death to help kids with school projects, college or otherwise. I'd get a hold of some local store owners and just ask them about some of these things. As long as you explain that this is just a project, most of them will be very open to helping out (since it won't likely result in competition for them

). Also, use demographic info from the US state dept. or FBI database (I think that was one I used). Also talk to an accountant about some of the financial info, ie: benefits, taxes, etc. That owners have to pay for employees and on merch. This is all I can think of right now. If you need a hand on finding any info, shoot me a pm, I'd be glad to lend a bit of a hand.

BowHuntingFool · 02-04-2008, 01:15 PM

Buellhunter will be able to help you a great deal. I hope he sees this thread! he just recently opened up a shop!!!

Buellhunter · 02-04-2008, 01:38 PM

Thanks for the PM BHF!

Yes, I would be willing to help in any way I can.
Cool project

7pointmonster
Shoot me a PM if you'd like my help
11 months in the biz and going strong!

my7pointmonster · 02-04-2008, 01:48 PM

Thanks a lot for the help guys im glad you got me into touch with Buellhunter. Thanks For the imput and if im gonna use what you had to say in my paper i'll shoot you a PM for some quoting information I need.

Ryan.