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Owning your own shop?

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Old 05-06-2008, 01:55 PM
  #11  
 
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Join Date: Nov 2004
Location: La Porte CityWaterloo Iowa
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Default RE: Owning your own shop?

One year and two months ago I opened Double Lung Archery
Business continues to grow and I actually think the business will make it now.

My resume included over 22 years in sales, in 3 different industries.
20 years of bowhunting
I grew up in a family business (meat locker plants) so I learned at a very young age how to take care of customers and how important that is.
I was already used to working loooooong hours!

Owning your own shop does cut into time for hunting and other things. I don't get to see my wife much, she's usually in bed, asleep when I get home. We have dinner together on Weds, Sat and Sunday.
I'm only open 6 days per week, closed on Sunday so I can go hunting or we can goriding. I hunt a couple mornings per week since I don't open till 11am most days. The days I'm not hunting I am here by about 9 or so, sometimes earlier, so 10-14 hour days are the norm.

Good luck if you decide to do it!


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Old 05-06-2008, 01:55 PM
  #12  
Typical Buck
 
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Default RE: Owning your own shop?

I'd get a full time job and work the archery shop part-time until it is feasible (i.e., strong customer base and lots of $$ in the bank) to do it full-time.
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Old 05-06-2008, 01:56 PM
  #13  
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Default RE: Owning your own shop?

We sold camo,guns,fishing tackle and bait as well.The best draw we had to bring in business was the range.I wouldnt have a shop with out one.
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Old 05-06-2008, 02:03 PM
  #14  
 
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Default RE: Owning your own shop?

How much do you value your hunting time?? The other thing is this, you really got to love archery, not hunting per say, I mean archery. Doing it day in day out all yr can be tough im sure. I love hunting and value my peace and quiet, I don't won't to be thinking about the business. This is why I would not want to hunt for a living or own a shop. I mean yeh, it would be cool for a little bit, then when I wanted time to shoot or hunt or scout or just walk away from it, I couldn't!! That sucks!! My hats off to the guys doing it, thanks, cuz I sure as hell do want any part of it!
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Old 05-06-2008, 02:22 PM
  #15  
Nontypical Buck
 
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Join Date: Aug 2005
Location: Cenral Illinois
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Default RE: Owning your own shop?

I've been around the shop that I frequent enough to know that customers don't want to see the usual helpers, they want to see the owner, or someone with a real stake in the place. The owner is there just about all the time during open hours, which makes a difference. The less help you hire, the more money in your pocket. I would STRONGLY recommend working in a shop if you can, before you open your own. You will gain respect from your customers if you can do all the work on their bows by yourself. You are going to be young when you start, so you need all the advantage you can get in the respect department.

I love archery, but I sure don't want a shop!
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Old 05-06-2008, 02:33 PM
  #16  
Typical Buck
 
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Default RE: Owning your own shop?

I have often thought about what it would be like to own an archery shop, but I dont think I would be ready for the headache that it may cause. But get you some experience by working in one for awhile, if you haveexperience then maybe open onesmall time, just helpiing out buddies and their buddies and you will eventually grow as word gets around. also have some good help,I think it would be next to impossible to work in ashop by yourself, you would eventually get backed up and customers will have to wait along time for their stuff and you may have to turn someaway, which is notgood..
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Old 05-06-2008, 02:46 PM
  #17  
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Default RE: Owning your own shop?

Another Question for the shop owners:

How much does a typical shop cost to open, maintain, operate, ect...?
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Old 05-06-2008, 02:52 PM
  #18  
 
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Default RE: Owning your own shop?

I need to generate about 2000.00 per month in profit (not just sales) just to keep the doors open. That is before paying myself.

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Old 05-06-2008, 02:53 PM
  #19  
 
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Default RE: Owning your own shop?

PS
I have about 75,000.00 in inventory
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Old 05-06-2008, 03:24 PM
  #20  
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Default RE: Owning your own shop?

How else do you profit other than sales? If you dont mind me asking.
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