Educate yourself on the archery industry before starting a compound bow business.
Become a compound bow dealer if you have a passion for bows and the archery industry,. Compound bows are commonly used in outdoor hunting sports and can range in price from $200 to $900. According to an archery report published by the outdoor hunting website Hunter's Friend, the average price selling price for bows was between $500 and $599 dollars in 2007. As a dealer, it could mean big profits for your compound bow dealership if you are able to work with manufacturers and offer knowledgeable advice to customers.
Instructions
1. Learn as much as you can about compound bows. Take an archery class that offers lessons in handling compound bows. Learn about and make contact with the manufacturers of compound bows.
2. Select a location for your dealership based on market interest for compound bows. Find out where competitors are located and look for storefronts that will have enough room for equipment and testing ranges, if you will offer testing. Consult zoning regulations in the area where you plan to open the store to ensure your company will be able to operate there.
3. Obtain a business license, if applicable, in the municipality where you plan to open the store.
4. Set up an area in your dealership where customers can shoot bows before they purchase them. This area should be out of the way of other wandering customers, ideally sectioned off with safety glass or a wall.
5. Obtain inventory from industry wholesalers or from manufacturers such as BowTech and Hoyt. Compare prices of several wholesale providers before purchasing in order to get the most inventory for your money.
6. Offer bow accessories in addition to your compound bow inventory to increase your business sales and revenue. Include items such as bow cases, strings, rangefinders, gloves, arm guards, instructional guides and arrows.
7. Provide lessons as a part of your marketing plan. In addition, advertise your dealership through online and print ads targeted toward outdoor enthusiasts. Archery manufacturers have searchable sections of their websites that allow customers to search for an authorized dealer, so make sure your business is listed.
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