Operating a skate shop allows the business owner to pursue his love of either ice skating or roller skating while earning some money. That passion is important, as well as having knowledge of the industry to help clients in their purchases. The income potential of a skate shop is not very high, especially in the early stages of the store's life cycle. However, having a business plan will guide you in ways to reduce costs to increase profits, including engaging in online sales.
Skate Shop Business Plan
Skate Shop Business Plan Articles
Business Model
A skate shop is a place that sells all the specific items required for different types of skaters, such as ice-skating, skateboarding, roller skating, and others. The shop sells products that provide the latest styles of boards and rollers, clothing and equipment for different styles and ages, along with other commercial items that are usually demanded by both amateurs and professionals. In the business model section there is a specific explanation of how the shop works, how to contact the best suppliers in the area and information about the sales strategy.
Business Summary
Market Positioning
Skate shops are grouped into the clothing, accessory and general merchandise store industry. Clothing and accessory stores like skate shops typically offer a narrow range of products tailored to a specific type of client; in this case, skateboarding, ice skating or roller skating enthusiasts. The business plan details how to position your shop within your target market by creating brand awareness.
Operations Plan
In this section of the skate shop business plan there is a complete description of the business operations required to run the store. Location, staff, schedules, products, customer service standards, displays and merchandising procedures, along with many other aspects to consider are detailed in the description. Follow the guide to be the recognized leader in the targeted market for providing an extensive line of skate products and apparel.
Marketing Plan
The marketing section of the skate shop business plan intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business and brand awareness to increase business results. This section is an overview of the marketing strategies and objectives for the skate shop business.
Market Segmentation
The Skate Shop’s average clients are amateur and professional skaters, and athletes, mostly males who are passionate about the sport. In this section of the analysis, there is a complete description of each type of customers. These data include income, type of business/occupation along with other demographic information such as population size and level of education.
Promotional Strategies
The business plan includes all potential strategies to promote the business such as communicating with the customer base through print magazines, newspaper advertising, and postcard mailings promoting skating events, bringing in pro and semi pro skaters sponsored by major companies. A website will be another avenue for marketing and sales purposes.
Financial Projections
A list of major revenue streams, along with a detailed list of the expenses that will be usually incurred by the shop are part of this section. Additionally, the financial projections will include capital investment estimations and funding alternatives.
Revenue Assumptions
The main sources of income in this type of businesses come from the sales (both retail and online) of skate boards, accessories, parts and clothing. This section of the plan offers description and data of the potential revenues of the shop as well as other possible sources of revenues such as maintenance and fixing services and training, among others.
Projecting Expenses
This section offers a complete description of all the major expenses for the skate shop such as staff, rent and services. It also includes a guide on how to keep the expenses in line in order to maintain the profitability of the business.
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