What do you think about owning a bow shop?
10-24-2003, 04:19 PM
#1
Nontypical Buck
Thread Starter
Join Date: Sep 2003
Location: Oklahoma
Posts: 1,598
What do you think about owning a bow shop?
This is a serious question about a decision I have to make. I am a 26 year old married guy who just got his college degree. My wife is getting her degree as well and will not graduate for a couple of years. I just got to try my hand at the occupation I thought I wanted to make a career of and it turns out I don' t like it.
Now here' s my Delima.....
I now have the opportunity to take over a local bow shop. e The owner doesn' t have the time to devote to the shop and I think he' s getting burned out. I have always wanted to own a shop like this and I' m excited at the opportunity to own it. It' s in a great location, there' s no other shops in the area and there are alot of hunters that live in the surrounding towns that need a place like this. The shop has been open for just under 3 years and from looking at the paperwork it looks like the owner is getting decent business.
I have spent all my time hunting and being in the outdoors since I was about 12 years old. I live and breathe this stuff. I know I would be happy doing this kind of work. My only concern is that I don' t have alot of experience working on bows. I know I can and will learn all the in' s and out' s and the current shop owner said he will stay on for awhile and teach me as much as possible and introduce me to all the reps. It' s a Bow-Tech dealer.
I think I can make a decent living at this and the enjoyment factor is a huge deal for me. I was just wanting some input from some fellow bow hunters. Obviously this is a personal decision but I thought by putting this in front of you all I might see something that would make my decision easier. Any suggestions are welcome.
Now here' s my Delima.....
I now have the opportunity to take over a local bow shop. e The owner doesn' t have the time to devote to the shop and I think he' s getting burned out. I have always wanted to own a shop like this and I' m excited at the opportunity to own it. It' s in a great location, there' s no other shops in the area and there are alot of hunters that live in the surrounding towns that need a place like this. The shop has been open for just under 3 years and from looking at the paperwork it looks like the owner is getting decent business.
I have spent all my time hunting and being in the outdoors since I was about 12 years old. I live and breathe this stuff. I know I would be happy doing this kind of work. My only concern is that I don' t have alot of experience working on bows. I know I can and will learn all the in' s and out' s and the current shop owner said he will stay on for awhile and teach me as much as possible and introduce me to all the reps. It' s a Bow-Tech dealer.
I think I can make a decent living at this and the enjoyment factor is a huge deal for me. I was just wanting some input from some fellow bow hunters. Obviously this is a personal decision but I thought by putting this in front of you all I might see something that would make my decision easier. Any suggestions are welcome.
10-24-2003, 04:47 PM
#2
Join Date: Oct 2003
Posts: 2
RE: From a customers point of view.
John Deer,
If owning an archery shop is a passion to you, I would suggest you go for it. However, your success will be determined by your ability (or lack thereof) to service the customer and keep them coming back. Some of the shops in my area have lost my business because they let unknowledgable people sell and repair bows. If this guy is willing to stick around and show you the ropes, you' ll have a solid foundation on which to build your new business, everything else should fall into place.
-JMO
If owning an archery shop is a passion to you, I would suggest you go for it. However, your success will be determined by your ability (or lack thereof) to service the customer and keep them coming back. Some of the shops in my area have lost my business because they let unknowledgable people sell and repair bows. If this guy is willing to stick around and show you the ropes, you' ll have a solid foundation on which to build your new business, everything else should fall into place.
-JMO
10-24-2003, 05:41 PM
#4
Join Date: Jul 2003
Location: Tulsa, Oklahoma
Posts: 1,051
RE: What do you think about owning a bow shop?
I wonder why he' s only getting " decent business" if he' s the only thing around? Might want to check into that. I' d see if I could find some of the customers and get their input.
Owning a bow shop is a tough living. I' m personal friends with two people that had to give it up and I think I learned something about it from them. First off, don' t limit yourself to just being a bow shop. That' s fine if you want it to be the main focus, but, you have to have customers for all 12 months of the year to survive. Find something else you could include in your inventory that would be of interest to people during the slow months. Also, do your best to make it a place where people would enjoy coming to. If a group of hunters just want to come in and shoot the chit with you or each other, have a place set aside for that. Keep pop and sandwiches and coffee there to sell to those folks. Make it more like an old time general store, and I think you' ll do okay.
These are just some of my observations from being around shops for the last 20 years. I' ve seen way too many of them go broke because they relied on just archery. And, be prepared to give up your hunting season (unless you can afford to hire someone that doesn' t hunt, but has a good knowledge of archery equipment).
Good luck to you!!! I hope you make it.
Owning a bow shop is a tough living. I' m personal friends with two people that had to give it up and I think I learned something about it from them. First off, don' t limit yourself to just being a bow shop. That' s fine if you want it to be the main focus, but, you have to have customers for all 12 months of the year to survive. Find something else you could include in your inventory that would be of interest to people during the slow months. Also, do your best to make it a place where people would enjoy coming to. If a group of hunters just want to come in and shoot the chit with you or each other, have a place set aside for that. Keep pop and sandwiches and coffee there to sell to those folks. Make it more like an old time general store, and I think you' ll do okay.
These are just some of my observations from being around shops for the last 20 years. I' ve seen way too many of them go broke because they relied on just archery. And, be prepared to give up your hunting season (unless you can afford to hire someone that doesn' t hunt, but has a good knowledge of archery equipment).
Good luck to you!!! I hope you make it.
10-24-2003, 05:49 PM
#5
Join Date: Feb 2003
Location: Smyrna De USA
Posts: 175
RE: What do you think about owning a bow shop?
i don,t want to burst your bubble but i do want to give you a few things to think about. having owned my own business and have a friend that owns a bow shop.
what time you have to hunt now will be extremely limited, your busy time is hunting season.
my friend told me that he had a 30% loose, i don' t know if this is true, but i was looking for a piece of gear one day, he said he had it, we looked, finally he said i guess someone stole it.
you can' t find honest help, talked to a guy in a tackle shop today, he said he is married to it 7 days a week, and can' t find honest help, there is plenty out there, but they clean him out.
if you do find someone who will treat it as their own, pay them well, just to keep them they are in demand.
with all that said, if it is what you want to do, you have to follow your dream, or you will end up saying WHAT IF!!!!!!
what time you have to hunt now will be extremely limited, your busy time is hunting season.
my friend told me that he had a 30% loose, i don' t know if this is true, but i was looking for a piece of gear one day, he said he had it, we looked, finally he said i guess someone stole it.
you can' t find honest help, talked to a guy in a tackle shop today, he said he is married to it 7 days a week, and can' t find honest help, there is plenty out there, but they clean him out.
if you do find someone who will treat it as their own, pay them well, just to keep them they are in demand.
with all that said, if it is what you want to do, you have to follow your dream, or you will end up saying WHAT IF!!!!!!
10-24-2003, 06:11 PM
#6
Dominant Buck
Join Date: Feb 2003
Location: Blossvale, New York
Posts: 21,199
RE: What do you think about owning a bow shop?
It' s not about getting " decent business" ... it' s about " Making a Profit" . That' s what you have to find out. Profit on your investment. You don' t want to fork down a ton of money just to buy yourself a job that doesn' t pay well. A lot of archery shops come and go with the average life span probably about 3 years. The owner would NOT be burned out in 3 years if he was making money. He' d be whistling and smiling all the way to the bank. There' s a whole lot to running a business other than putting in the time and having a burning desire. It' s long hours and you' re tied down. What is your degree in?
10-24-2003, 06:21 PM
#7
Boone & Crockett
Join Date: Feb 2003
Posts: 19,137
RE: What do you think about owning a bow shop?
If you can make the same money with out all the head aches, why have the head aches.
You will work seven days a week and have to be there when the doors are open. Owning your own buisness can be quite rewarding,but it can also be a huge pain.
I owned my own pizza buisness it was very tough. You can' t trust your employees,sad but true in most cases.
Sit down and do an honest SWOT analysis Strengths Weakness Oppurtunities threats.It might help.
You will work seven days a week and have to be there when the doors are open. Owning your own buisness can be quite rewarding,but it can also be a huge pain.
I owned my own pizza buisness it was very tough. You can' t trust your employees,sad but true in most cases.
Sit down and do an honest SWOT analysis Strengths Weakness Oppurtunities threats.It might help.
10-24-2003, 07:24 PM
#8
Nontypical Buck
Join Date: Feb 2003
Location: East Texas
Posts: 1,382
RE: What do you think about owning a bow shop?
I think alot of the other guys are giving you some good advice. I am a self employed business owner so I can give input from that direction and my dad has been a hunting and fishing manufacturer' s rep. for 25 yrs.
First off, owning your own business can be the greates thing in the world. The joys of being self-employed are awesome. I own a real estate company selling farms and land. On the other hand you will also have headaches, problems, and plenty of taxes to pay.lol My dad (being in the outdoor sporting goods industry) always has people say to him " wow it must be great, having your job and getting to hunt and fish all the time and getting all the gear at cost. I wish I had your job cause I love to hunt." Well ya he gets the gear at cost but his busiest season is...guess when, hunting season. Granted now that he owns the company and doesn' t travel as much it' s a little different but it' s still something to think about. His reply to those people is, " if you love to hunt and fish, go get a job doing something else and keep hunting and fishing your hobby" . There is a whole lot of thruth in those words. I will bet that the time you spend hunting would be cut by 75% or more if you owned a bow shop. When you want to be out there hunting, is when you need to be in the shop making money.
Also as others have said, this isn' t about doing ok, it' s about making money and enough of it to support your family and your lifestyle. Ok, now that I' ve been somewhat negative about this, but very honest and realistic, I will say again that being self-employed can be great! The taxes suck but the tax write offs are great. If you do decide to do something like this, you need to have a way to make money year round and I don' t believe archery is going to be your ticket. You need another draw to your shop, besides just bow hunters. Try to find another niche you can fill that is profitable.
Ok, I' ve rambled on long enough.lol Good luck and let us know what you decide!
First off, owning your own business can be the greates thing in the world. The joys of being self-employed are awesome. I own a real estate company selling farms and land. On the other hand you will also have headaches, problems, and plenty of taxes to pay.lol My dad (being in the outdoor sporting goods industry) always has people say to him " wow it must be great, having your job and getting to hunt and fish all the time and getting all the gear at cost. I wish I had your job cause I love to hunt." Well ya he gets the gear at cost but his busiest season is...guess when, hunting season. Granted now that he owns the company and doesn' t travel as much it' s a little different but it' s still something to think about. His reply to those people is, " if you love to hunt and fish, go get a job doing something else and keep hunting and fishing your hobby" . There is a whole lot of thruth in those words. I will bet that the time you spend hunting would be cut by 75% or more if you owned a bow shop. When you want to be out there hunting, is when you need to be in the shop making money.
Also as others have said, this isn' t about doing ok, it' s about making money and enough of it to support your family and your lifestyle. Ok, now that I' ve been somewhat negative about this, but very honest and realistic, I will say again that being self-employed can be great! The taxes suck but the tax write offs are great. If you do decide to do something like this, you need to have a way to make money year round and I don' t believe archery is going to be your ticket. You need another draw to your shop, besides just bow hunters. Try to find another niche you can fill that is profitable.
Ok, I' ve rambled on long enough.lol Good luck and let us know what you decide!
10-24-2003, 08:33 PM
#9
Join Date: Mar 2003
Location: uniontown,pa
Posts: 881
RE: What do you think about owning a bow shop?
a buddy of mine in nj owned his own shop and like someone said he was married to it 24-7 , that was all well and good until his wife had a baby, then he couldn' t find reliable help , he decide spending time with his baby is more important than owning an archery shop , all time and effort and the money wasn' t rolling in he did ok but not great especially in the off season , so he decide he could make more money working 40 hours a week and he would be able to spend quailty time with his kid and he closed up shop! the bottom line is plan ahead if you do it save for a rainy day, good luck !