lemaymiami
Member
I don't know much about the gun business... but I do know a lot about how to make a tackle shop go and survive in tough competition... The first thing I'd do is remember that business has little to do with your favorite interests and everything to do with buying and selling profitably. Many a new owner has turned a large sum of money into a small sum by going after their own interests as opposed to just doing business in whatever form it comes to you. In any trade I'd do my best not to limit myself to one line of goods (or one price mark, you could starve trying to handle only the highest priced stuff... you've got to cover every price point that customers might come into your shop looking for).
Another point to remember is that there will always be "somebody cheaper" down the road. Outstanding service and skill isn't available everywhere and that's what I'd move heaven and earth to achieve, even at the cost of profit today (counting on profit tomorrow...). With a gun shop I'd try to sponsor a local Boy Scouts marksmanship program and do my best to also sponsor shooting sports for the handi-capped together with your local gun range... anything that widens my community exposure is good for a small business.
Lastly no matter where your passion lies, goods that sell quickly and turn over your inventory three or four times during every year can be the difference between a shop that's around for a year or two and one that has staying power. Most would be surprised to know that t-shirts and other relatively inexpensive soft goods can cover a small tackle shop's entire overhead, year after year.... That's something to think about.
I was able to talk briefly with a very prominent fly angler who was one of the technical advisors for a movie (A River Runs Through It) that really boosted sales of fly fishing gear nationwide.... He noted that one of the difficulties with that business was the number of people in it who were just trying to make their passion for fishing profitable instead of being focused on business first and only doing things that kept them profitable...
Another point to remember is that there will always be "somebody cheaper" down the road. Outstanding service and skill isn't available everywhere and that's what I'd move heaven and earth to achieve, even at the cost of profit today (counting on profit tomorrow...). With a gun shop I'd try to sponsor a local Boy Scouts marksmanship program and do my best to also sponsor shooting sports for the handi-capped together with your local gun range... anything that widens my community exposure is good for a small business.
Lastly no matter where your passion lies, goods that sell quickly and turn over your inventory three or four times during every year can be the difference between a shop that's around for a year or two and one that has staying power. Most would be surprised to know that t-shirts and other relatively inexpensive soft goods can cover a small tackle shop's entire overhead, year after year.... That's something to think about.
I was able to talk briefly with a very prominent fly angler who was one of the technical advisors for a movie (A River Runs Through It) that really boosted sales of fly fishing gear nationwide.... He noted that one of the difficulties with that business was the number of people in it who were just trying to make their passion for fishing profitable instead of being focused on business first and only doing things that kept them profitable...
