Bow Shop
11-10-2009, 07:24 PM
#1
Spike
Thread Starter
Join Date: Oct 2009
Location: Illinois
Posts: 25
Bow Shop
Hello everyone
Some day I would like to open a bowshop. Basically just for the love of bowhunting and to help other people. Please do not write on this forum for me not to open one. I am writing a buisness plan for me. I was wondering if any of you either know about how much different bows cost bowshops or how I can find out. I am planning on email the companies and see if they will give me a price but I just thought I would ask here. Thanks
Some day I would like to open a bowshop. Basically just for the love of bowhunting and to help other people. Please do not write on this forum for me not to open one. I am writing a buisness plan for me. I was wondering if any of you either know about how much different bows cost bowshops or how I can find out. I am planning on email the companies and see if they will give me a price but I just thought I would ask here. Thanks
11-10-2009, 08:03 PM
#2
Boone & Crockett
Join Date: Feb 2003
Posts: 10,679
I know you said don't do it but i am going to do it.
If you love bow hunting and not just hearing about and seeing pics of what other people are hunting then don't open a pro shop.
I don't own one but have managed and worked in a few and hind sight being 20-20 I would have never started working in retail hunting. Your busiest time of year is the time you want to be in the woods hunting yourself and if you want to run a successful shop you will be in the store taking care of customers instead of being in the woods hunting big game.
Also keep in mind that you are going to have to literally baby sit grown men and powder their asses. It is truly amazing how many people can not do something as simple as take two little screws and put a sight on a bow and they are going to want you to do it when you are your busiest. Absolutely amazing!
On to your questions.
The bow companies are not going to give you pricing until you submit an application to them and are approved as a dealer but there are typically three levels of purchasing power from most bow companies. The more you buy and the quicker you pay the better price you get. Some companies will offer you fall dating (pay in November) if you purchase a minimum number of bows at one time. If you want to be competitive and actually sell enough bows to stay in business you are only going to make 20-25% on most bows. A few bows you will get 30%. But again that depends on what price level you are on. Just starting out you are likely going to be on price level 1 and are going to pay $50 - $100 more than a store that is on pricing level 3.
Figure you will make about 40-50% on accessories like sights and rests. Arrows will get you about 20-30%.
As you can see there isn't much mark up on bows. You have to sell accessories to pay the bills.
I suggest you have at least a 20 yard indoor range and if you can swing it a 30-40 yard range. Also, if this is going to be an archery
shop only then you must have leagues and tournaments to keep people in your shop all year long. Other wise you will be eating ramen noodles for dinner during the off season. Invest in one of the video systems like the DART or technoHUNT systems and hold video archery leagues. If they are in your shop shooting then they are going tobreak gear and need stuff like strings and cables, new sights, new rests, general work done, arrow refletching, etc... and if they are in your shop shooting and you stay up on the lastest gear and have it for them to see and touch then you will sell it.
Also, look real hard into NASP and get set up with your local schools as their exclusive dealer and work with the companies to get the schools their equipment. Kids are always breaking equipment and schools are rough on equipment and this is money in your pocket if you service and sell the schools while promoting the best thing to happen to schools in a long long time.
Basically just for the love of bowhunting
I don't own one but have managed and worked in a few and hind sight being 20-20 I would have never started working in retail hunting. Your busiest time of year is the time you want to be in the woods hunting yourself and if you want to run a successful shop you will be in the store taking care of customers instead of being in the woods hunting big game.
Also keep in mind that you are going to have to literally baby sit grown men and powder their asses. It is truly amazing how many people can not do something as simple as take two little screws and put a sight on a bow and they are going to want you to do it when you are your busiest. Absolutely amazing!
On to your questions.
The bow companies are not going to give you pricing until you submit an application to them and are approved as a dealer but there are typically three levels of purchasing power from most bow companies. The more you buy and the quicker you pay the better price you get. Some companies will offer you fall dating (pay in November) if you purchase a minimum number of bows at one time. If you want to be competitive and actually sell enough bows to stay in business you are only going to make 20-25% on most bows. A few bows you will get 30%. But again that depends on what price level you are on. Just starting out you are likely going to be on price level 1 and are going to pay $50 - $100 more than a store that is on pricing level 3.
Figure you will make about 40-50% on accessories like sights and rests. Arrows will get you about 20-30%.
As you can see there isn't much mark up on bows. You have to sell accessories to pay the bills.
I suggest you have at least a 20 yard indoor range and if you can swing it a 30-40 yard range. Also, if this is going to be an archery
shop only then you must have leagues and tournaments to keep people in your shop all year long. Other wise you will be eating ramen noodles for dinner during the off season. Invest in one of the video systems like the DART or technoHUNT systems and hold video archery leagues. If they are in your shop shooting then they are going tobreak gear and need stuff like strings and cables, new sights, new rests, general work done, arrow refletching, etc... and if they are in your shop shooting and you stay up on the lastest gear and have it for them to see and touch then you will sell it.
Also, look real hard into NASP and get set up with your local schools as their exclusive dealer and work with the companies to get the schools their equipment. Kids are always breaking equipment and schools are rough on equipment and this is money in your pocket if you service and sell the schools while promoting the best thing to happen to schools in a long long time.
Last edited by bigbulls; 11-10-2009 at 08:08 PM.
11-11-2009, 12:36 AM
#3
Typical Buck
Join Date: May 2007
Location: Belgium
Posts: 996
Bigbulls, this is some really good info you are sharing with us and even after done some extensive research you have given me extra pointers.
Some things I might add;
Try and have an archery range next door or even open one yourself, if they are shooting their bows close to your store, they will break stuff and need stuff.
Shoot your bow with all the latest gizmos at that range, it will help.
Have at least one day with later opening hours, like till 22h.
Get a good customerbase with info about everyone, email adresses is an easy way to advertise new stuff.
BUT like BigBulls said, it'll take more than love for bowhunting to make a good business being run.
You might want to look at different businesses that can go as an store in your store, that way you can make money when your other business is running slow, for instance fishing gear or other outdoor sports.
And look at where you open your store, look at your competitors where they are and what they lack and remember that they have a headstart, whatever you do.
If legislation permits, have drinks and small snacks people can buy when they are waiting on repairs.
And be honest and never talk bad about any of your customers or owners of other bowshops even when they stink.
Good luck !
F.
Some things I might add;
Try and have an archery range next door or even open one yourself, if they are shooting their bows close to your store, they will break stuff and need stuff.
Shoot your bow with all the latest gizmos at that range, it will help.
Have at least one day with later opening hours, like till 22h.
Get a good customerbase with info about everyone, email adresses is an easy way to advertise new stuff.
BUT like BigBulls said, it'll take more than love for bowhunting to make a good business being run.
You might want to look at different businesses that can go as an store in your store, that way you can make money when your other business is running slow, for instance fishing gear or other outdoor sports.
And look at where you open your store, look at your competitors where they are and what they lack and remember that they have a headstart, whatever you do.
If legislation permits, have drinks and small snacks people can buy when they are waiting on repairs.
And be honest and never talk bad about any of your customers or owners of other bowshops even when they stink.
Good luck !
F.
11-11-2009, 06:51 AM
#4
Boone & Crockett
Join Date: May 2005
Location: Burleson Texas
Posts: 12,560
Good luck on your venture, the only thing I can tell you from the years of being in archery and having an archery range back in the day is that if your going to survive in the business you need to have another source of revenue to offset the cost of doing business..
You can sell hunting clothes, fishing equipment, knives, I've seen a lot of shops come and go, the ones that continue on the path of being profitable are those that offer other goods and services.
You can sell hunting clothes, fishing equipment, knives, I've seen a lot of shops come and go, the ones that continue on the path of being profitable are those that offer other goods and services.
11-11-2009, 03:46 PM
#6
Fork Horn
Join Date: Nov 2009
Location: Grass Lake, Mi.
Posts: 181
How to make a million dollars owning an archery shop, start with 2 million! You can buy mine, I love what I do and that is what got me started, I will not be the one to tell you not to, but..... You can start by asking yourself how much do I want to spend on stock. Next is where do I want the shop location and how much per month. Bows will dictate most of the $ the good thing is most companies will let you get the bows and not pay until fall. If you don't sell enough to pay the bill, you still have to pay. Some companies want you to buy a minimal of 25 bows. Now if you stock these you might not have enough $ for another brand, or the room. I have stuck with 3 brands and sell about 70 percent of inventory that leaves all the profits going to pay the bill for all of them. Note: not much money in a bow sale. PM if you have some questions, by all means I am not trying to talk you out of it, just giving you a heads up.
Pat
Pat
