Manufacturer and supplier of all kinds of sports goods and equipments, sports wear, sports bags and promotional products for all kinds of play like cricket, boxing, hockey, hurling, baseball, cycling and more.
G.T. Road, Suranussi, Jalandhar- 144 027 Punjab, (India)
Tips To Run Successful Sports Business
If there is anything that bond nations world wide except for internet, its sports. Perhaps it is amongst the top notch businesses in commercial industry today. However it would be in pro of business person if he is interested in games ventures too. It is a very wide term and amalgamates several aspects related with it. It would be easier to understand if we discuss distinct probabilities of this business in more detail.
To start with one can begin with a games club where people enjoy arena for several games. Perhaps that is possible but it would restrict you to one premises. The most accessible business done in this category is of dealing in sports goods. One needs to have a large inventory for this business as he will have to invest in all sorts of sports equipment. The basic advantage of dealing in these goods is that one need not rely on retail counters and spaces. If one has enough social contacts he can run his business even from home, although this sort of business is only sorted for wholesalers who need store room to keep their stuff and deliver them to customers when needed.
But does investing, wholesaling or retailing can make you a successful businessman? All we would say is it takes more than just investing to be ahead of others. So here we can suggest few tips to add more stars to your business. Most prior to anything we would suggest you to advertise your business. And for this purpose you can either offer sponsorship in high school matches or get affiliated with a club so you can make contacts and sell your products directly to customers.
If you have enough economic resources them try and make your business as one stop for sports lovers. Apart from sports equipment, keep some branded sports wear and fitness equipment along with sports good. This will aid like an added benefit to customers as when they visit your site or shop for sports goods they would love top browse through sports wear collection and fitness equipment related to it if suggested any. Its a great way to enhance your sale and urge customer to come back because of provided convenience.
Trust is the only bond between you and your customer hence its significant to develop a relation of trust and faith with your customers. Make sure that you provide them with good branded sports goods and even if you offer them non branded sports goods it should be of an equivalent good quality. Social networking and sustained quality are the keys to successful sports goods business. Its not like usual clothing businesses and all where customers would come to you and make purchase. Business like sports goods require a lot of social networking and contacts where you make good reputations amongst people who in turn provide you bulk orders like school sports goods equipment, sports club, sports recreational centre and even sports lovers club.
At last we would mention one golden rule for nay business. Please offer exchange and repair for nay default to your customer it would enhance their trust and positively bring them back to you for more business. You can certainly run, hit and jog with sports goods business. Way to go!
Another Guide By Mohit
Sports worldwide is multibillion dollar business, sports business means money for everyone involved. There are hundreds of sports played in the world from big ticket sports like soccer, golf, motor sports and tennis to table tennis, boxing, cricket, badminton, shooting and wrestling that are no less significant. So why is there so much money involved in sports, well because people see good sportspersons as role models for the society and people think that if you can practice sports and earn a good living with no bad habits then thats the ideal life? Companies too want to sponsor sports and sportspersons as they think such an association is beneficial for their business. The whole thing works out in the interest of the sponsors as well as the sports.
If you are thinking of how you can start or enter a sports business and are looking for idea then this article is for you. In this article we talk about the different business models that can be opted for that can be used to start your own sports business. Amongst the widely used sports business models happens to be those of sports equipment business, sports apparels business, sports advertising business, sports coaching business amongst others. In this article we discuss all these business models at length so you have a better understanding which business model is better suited for you and to enable you to take a better informed decision. But before you commence business operation there are legal formalities that you must complete so that your business is a recognized business. You also need a business license and tax number for your business.
One business model that has been followed successfully the world over is that sports apparels business. There are so many kinds of sports apparels in the market from sports jersey, sports shoes, sports socks, sports t-shirts and other apparels. Generally people like to buy sports apparels made by well known brands like Nike, Adidas, Puma, Lotto and Reebok, amidst so many well known brands its usually tough to sell unknown brands. Thus selling sports apparels made by any one or all of these brands would seem the most viable business option. People buy sports apparel products as per their choice and requirements, they would like to visit a sports apparels store where they can see and choose the products. Users of sports apparels could be looking for track suit so they are more likely to visit a sports apparels store to purchase one.
For your sports apparels retail store business you will have to get in touch with the sales and marketing department of sports apparel brands and let them know that you are looking to start a sports apparels retail store and are interested in selling their products. The company will send you an entire product list with buyer price and selling price. You will need to consider how much monthly expense are you looking at and what time frame you expect the business to break even or probably turn profitable. You will also have to bare expenses for rent of the retail store property, staff and worker salaries, water and electricity bills plus maintenance cost. To increase your business you will have to promote your business and spread the word about your business. The easiest and most cost effective way of doing this is by giving a newspaper advertisement. Do remember to add the address of your retail store and telephone number. Another great idea would be to offer a small discount on purchases made on the first 5 days from the opening of the store that way you will be able garner initial sales as well as attract the attention of consumers too.
The sports equipment business is another of the successful business models that is practiced the world over. To play any sport people and sportspersons both need sports equipments. In case you would like to play a sport like cricket then there are numerous cricket sports equipments that are need to play the sport. There is the cricket bat, batting gloves, knee pads, arm guard, cricket ball amongst others. For sports equipment the trading and marketing business model is one of the emerging business the world over. There are many sports equipment manufacturers that make high quality sports equipment but are not able to reach markets beyond their own country. Such businesses are always on the lookout for individuals and other businesses that would like to take a license to market their sports equipment in markets where the parent company is already not present.
On your part you would have first have the confidence that you will be able to sell such sports equipment in markets where the product is completely unknown or has some acceptability but marketing needs to be improved for increased sales. Also such a marketing venture will need capital investment on your market. Once you have an agreement with such a company you can always issue a bank letter of credit wherein the bank guarantees payment to the seller within or at the end of a stipulated time frame. You will get the goods and you can start marketing and appointing dealers for the sports equipments that you have. During the credit you have the time to recover some of the money from the market and that will help you cover some of your investment cost.
Sports advertising business is amongst the main businesses related to sports business. Whenever there is a live sports event there are many kinds of advertisements. Sports advertisement can be seen in newspapers, sports TV channels and in sports stadiums. There are many ways in which you can have sports advertising business, one form of sports advertisement business is the in stadia advertisement business. It is usually the sports governing body or the organizers of the sports events that decide the sports advertisement contract. If you are interested is such a business then you first need to have complete expertise and knowledge of how such work is handled. Usually the contract gives you full rights to sell advertisement spots to those wishing to advertise in a stadium during a sports event. It is your job to meet potential clients and sell in stadia advertisement space to them. You will have already paid the sports governing body or the organizers of the sports event in full, thereafter you make a profit or loss depends completely on marketing capabilities.
There is also the sport coaching business that is an option within the sports business. There are many budding sportspersons and even young athletes need professional sports coaching to horn their skills and develop muscle strength so as to be able to complete at the highest level. Also there is need for high quality sports coaching facilities so that there is a right environment for sports coaching. Professional sports coaching is not a cheap thing in fact professional sport coaching like the Nick Bollettieri Tennis Academy in Florida USA is what budding sportspersons need to become top sports players. There is a lot of money that is needed to start a professional sports coaching business, you will not only need to install sports equipment which budding sportspersons will use to train but high quality trainers who will help enrollees achieve what they have come to learn and achieve.
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