Most of the surf enthusiasts get into a surf shop startup as a way to prolong their surfing lifestyle well into their adult lives. Passion is important, of course, but unless your love for surf is backed up by a commitment to a solid business strategy, your surf startup will quickly be headed for a wipeout. In this business plan you will get all the information you need in order to run a profitable surf shop business.
Surf Shop Business Plan
The surf shop will be a new player in the country for the surf wear and apparel industry. The business is composed of surfers and designers making top quality products for surfing, skating and other active lifestyles. The company should gain market penetration and establish themselves as a cool-to-wear apparel company. In this section of the surf shop business plan we will further describe the business, its product lines and main characteristics.
According to the Future of Freedom Foundation, there are approximately 23 million surfers around the world. To participate in surfing activities, these surfers need the right gear and equipment but most importantly the right surfboard. The company will meet the needs of these surfers by starting a surf shop business. This section of the plan explains the strategies to position the business within its target market.
The surf shop will be stuffed with various surfing equipment. Usually, people that come from other places and like to surf don’t come with the required surfing equipment, which allows the business to make money during vacations and holidays. The surf shop will not only sell but also rent surfing equipment. This part of the plan describes the operations plan, logistics and key processes to run a successful surf shop business.
The surf shop marketing plan is the blueprint to become well known among your target market. By outlining the strategies and how this market looks like the business will be able to develop an image for itself. In this chapter, the business plan will explain the target market and the strategies to attract new clients.
The surf shop will be able to supply not only apparel and equipment but it could also expand its product line towards more specialized products. The products of the surf shop can be broken down into five segments: surfing, recreational, fitness, speed, leisure, and extreme skaters. This part of the plan describes the target market of the surf shop and the strategies to supply their main needs.
In this section, the marketing plan will describe the strategies the company will apply to promote the surf shop. Some of the tactics include advertising the surf shop via newspapers, radio, television and the internet and provide free surfing lessons as a way to get people into the store where they are likely to purchase the equipment they need to become a surfer, among other ideas.
This chapter of the surf shop business plan details the financial aspects of the company. It includes information about cash flow, capital requirements, revenue assumptions and expenses.
The main source of income of the shop will be its retail sales, but those could also be complemented by hosting special events or tournaments and by teaching surf lessons. This section of the surf shop business plan will further explain the sources of revenue and the underlying assumptions taken to arrive to such figures.
This section outlines the major expenses of the surf shop company including marketing expenses, rent, maintenance of an e-commerce website and staff.