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.

Related Post