Thinking about opening a sporting goods rental business? We tell you what you need to know to get started.
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Best Practices for Writing a Sporting Goods Rental Company Business Plan
Many new sporting goods rental business owners feel unprepared for the challenge of writing a business plan.
But even though you have primary responsibility for drafting a business plan for your sporting goods rental business, you aren't entirely alone. These days, there are tons of great resources and solutions available to support the business plan writing process.
For more information, take a look at our Business Plan Help section.
Don't Ignore Competitors
Prior to launching a sporting goods rental business in your town, it's worthwhile to determine how you will fit in the competitive landscape. Try our link below to get a list of local competitors in your city. After following the link, enter your city, state and zip code to get a list of sporting goods rental businesses in your area.
Is the local market large enough to support another sporting goods rental business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
After you've evaluated your local competitors, it's a wise move to have a conversation with someone who is in the business. Local competitors are not going to give you the time of day, mind you. The last thing they want to do is help you to be a better competitor.
However, an entrepreneur who owns a sporting goods rental business in a location that is not competitive to you may be more than happy to give you a few tips, provided that you won't be directly competing with them. In that case, the business owner may be more than happy to discuss the industry with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where can you find a sporting goods rental business founder in another community?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Benefits & Drawbacks of a Sporting Goods Rental Business Acquisition
Although there are significant benefits to buying a sporting goods rental business (rather than launching a startup), it's important to weigh the pros and cons before you commit to a purchase scenario.
BENEFITS: A good sporting goods rental business will deliver revenue and ROI from day one. Even more, the right sporting goods rental business acquisition can place you in a market leadership position from your first days as a business owner.
DRAWBACKS: On the downside, sporting goods rental business acquisitions can be difficult to adapt to your unique business philosophy so it's important to make sure the business is capable of achieving your ownership goals before you initiate the buying process.
Don't Rule Out Franchising
Your chances of achieving the entrepreneurial goal of making a success of your new business zoom upwards if you purchase a franchise instead of doing it all on your own.
Prior to starting a sporting goods rental business, you would be wise to check out whether franchising might make it easy to get started.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing sporting goods rental business, try these useful resources:
If you sell to sporting goods rental businesses, this isn't the right place for you. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.