The investments required to launch a sports store

Next step in the implementation of your project to create a sports store: the definition of the human and material needs necessary for the opening of your store.

Creating a sports store requires significant initial investments:

  • layout of the premises: possible renovation work and purchase of furniture for the shop (shelves, displays, counters for checkouts, etc.)
  • purchase of the initial stock of products
  • purchase of equipment necessary for sale (cash register, payment terminal) and management (office equipment, IT equipment)
  • marketing investment (illuminated sign, website, etc.)

The cost of all these elements essential to the launch of your store will have to be evaluated and taken into account in your estimated budget.

The staffing needs of a sports store

In addition to the hardware equipment, you will also need to consider the personnel requirements of such a project.

You will need to think about the size of the team necessary for the proper functioning of the business. This will depend in particular on the desired opening hours and the size of your retail space.

You will also need to anticipate how you will recruit and train staff. Your salespeople will need to be knowledgeable in sales techniques as well as in sport in order to be able to offer an advisory dimension to your customers, who are generally very keen on buying the product most suited to their practice.

Management and administration

Finally, it will also be necessary to take into account the needs on the administrative part of the company, in particular:

  • Accountability
  • Payroll
  • Supply management
  • Management of staff schedules
  • Upkeep and maintenance
  • Insurance, in particular professional liability
  • Etc.

The administrative part can quickly become quite time consuming (especially in France!), To free yourself of time do not hesitate to outsource part of it, for example by calling on a chartered accountant.

To best measure the budget necessary for these different expenses, consider requesting quotes from several suppliers.

The marketing plan of a sports store

The marketing plan brings together all the actions that will allow you to make your store known, to attract customers, and then to build loyalty.

It is therefore particularly important to establish a precise, rigorous and effective marketing plan.

  • launch a street marketing campaign to get to know the inhabitants of the neighborhood
  • communicate on social networks, possibly with attractive promotional offers
  • set up a loyalty program
  • create geolocated advertising campaigns to target Internet users looking for sporting goods near your store
  • drop brochures in the mailboxes of local residents
  • start a campaign on a local radio station, or put an ad in the newspapers

The business plan of a sports store

Once the marketing plan is defined, you can then devote yourself to the business plan of your sports store.

This document contains a written part used to present the project and its strengths, as well as a financial forecast aimed at highlighting the financing needs and the profitability potential of your future store.

The business plan will allow you to ensure that the project is financially viable, and will serve as a reference document for the search for funding. The business plan is like your company’s CV. It should be concise, to the point, and convincing.

The Material And Human Needs To Open A Stationery

Besides the room, you will need a number of elements to operate your stationery.

Starting with the acquisition of the stock. Obviously, this will depend on the type of products you offer.

Stock is generally the most important expense item: around 60% of turnover. Then come staff costs and rent.

In addition to the stock, you will notably need to provide:

  • to set up the room: shelves or shelves, sales counter, cash register, etc.
  • acquire a professional photocopier if you plan to offer this service
  • to equip you with computer equipment for the administrative part

To minimize the initial investment, consider requesting quotes from different professionals. Compare prices, and choose a formula adapted to your project.

In terms of staff, the needs are quite limited: for a small structure a person at the counter to collect and inform customers is generally sufficient. Depending on the opening hours, you may need several people at this position in order to be able to ensure a rotation, and not to have to close during your holidays or in case of illness.

Also remember to anticipate the workload at the administrative level, do not hesitate here to call a chartered accountant to unload you.

Finally, note that you do not need a license to open a stationery store. Neither you, nor your employees will need a particular qualification (it is however recommended to have bases in the management of a shop).

Opening a stationery: the marketing plan

The development of your stationery is progressing. We now have to create what we call our marketing plan.

Creating a stationery is good, but you still have to make it known, if you don’t want your room to remain desperately empty.

Let’s say it again: the right location for your business is essential. The ideal is to be in the city center, in a usually busy street and close to other shops.

But these places are often more expensive. And at the same time, that may not be enough to keep your business busy. At the time of the inauguration, remember to communicate with the local media: the small newspapers in your city will appreciate to speak about your store, especially if its concept goes off the beaten track.

Finally, word of mouth will play a lot. If your business is larger, you may want to consider opening a website or developing visuals (flyers, posters, etc.) that will promote you.

Write down your stationery business plan

Once you’ve completed all of these steps, your next goal will be to complete your stationery business plan.

The business plan is therefore an exhaustive document comprising a provisional financial budget and a written part. It must include all the elements necessary to launch your stationery. And for good reason: it should serve you as well to verify that nothing was left to chance and that the company will be profitable, as to convince your bank or your future investors.