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How to Open a Skateboard Shop

By Edited Nov 13, 2013 0 0

Skateboarding is a popular activity among teenagers and young adults who spend hours practicing tricks and techniques at parks and facilities with ramps. In fact there are more than 9.3 million people who engage in skateboarding according to the Tosa Skateboarders United organization. Individuals who enjoy skateboarding need the right equipment as well as safety gear to protect them from injury. To cater to this niche hobby by providing the supplies and equipment they need, learn how to start a skateboard retail business.

Write a business plan. Detail how you plan to start and operate a skateboard retail business by creating a business plan. Conduct an analysis to ensure enough demand exists in your area for a skateboard business to be successful. Determine your plan for financing your business as well as hiring staff and marketing the skateboard products you have available. For help in drafting your business plan, consult the business plan information available from the website of the U.S. Small Business Administration (SBA).

Apply for funding. Learn what commercial and business loans are available from local financial institutions in your community as well as the SBA, which offers guaranteed and low-interest loans specifically designed for people starting their own business. Fill out a loan application, provide a copy of your business plan and consent to checks of your credit report and financial history. Understand that if you don't qualify for business loans on your own you may need to get a co-signer who the bank will approve, or wait to open you business until you get your credit high enough to qualify for the funding you need.

Register your business. Visit the website of the Internal Revenue Service (IRS) to learn how to obtain an employer identification number (EIN) and register your business on the federal level using one of four methods. Register your business at the state and local level with the department of revenue to collect and pay sales tax on the skateboards and additional equipment you sell. Obtain a business license from the city or county where your retail store will be physically located by completing an application and paying a small licensing fee.

Choose a location. Review the commercial and retail properties available in your community by visiting with a local real estate agent or viewing listings on websites such as Craigslist or LoopNet. Search for a property that provides you with enough display space for customers as well as storage for excess skateboards and products not on display. Consider transforming a small section of your store into a mini-ramp as this provides the skateboarder with a place to try out a new skateboard before making the purchase.

Purchase supplies and equipment. Get to know what types of skateboards and equipment are popular in your area by talking with teens and young adults at local skate parks or attending skate competitions in or nearby your city. Contact the manufacturers of these brands and products to purchase them directly from the company at a wholesale price. Obtain additional equipment and supplies needed to operate your business such as racks and shelves to display products in your store as well as a computer to manage sales and finances for your skateboard retail business.

Seek out staff. Employ people knowledgeable about skateboarding in your retail store to assist customers in choosing the right products to fit their needs. Consider offering a discount on products in your store for staff as a way to attract local skateboard enthusiasts to work for you. Find an office assistant or bookkeeper to manage the records of your skateboard retail business as well as handle payroll and daily deposits of the money coming into your business.

Promote your business. Advertise to teens and young adults using social networking sites such as Facebook and Twitter. Sponsor skateboard competitions held in your community or start one yourself if none exist. Work with local skateboarders to add skate parks or improve the ones in existence as this can attract more people to the sport and increase sales for your business.



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