How to Open a Hunting Equipment Store
Turkey, deer, quail and pheasants are just a few of the animals that can be hunted during appropriate seasons in the United States. While some hunters focus solely on getting a specific animal, others hunt during each of the different seasons. To increase their chances of getting the animal they desire, hunters need the right supplies. You can make money catering to the needs of these hunters by opening a hunting equipment store.
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Instructions
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Develop a business plan. Calculate the amount of money you need to open a hunting equipment store, and account for how you'll get this money in the financial section of your business plan. Determine the operating procedures for your business including the days and hours your business will be open as well as the type of equipment you'll offer. Write down how you plan to promote the store to hunters as well as the number and type of staff you'll use to manage the store and cater to customer needs.
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Seek out financing. Access your credit report from one of the three major credit bureaus to learn what your credit score is prior to applying for financing to start your hunting equipment store. Complete loan applications with credit unions and banks in your community to be considered for funding to start your business. Learn if you qualify for loans through the U.S. Small Business Administration by visiting their website.
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Register your business. Complete the form from the Internal Revenue Service via fax, phone, mail or online to obtain an employer identification number (EIN), which is used on government and legal forms to identify your business. Register your hunting equipment store with the department of revenue in your state to collect and pay sales tax unless you live in one of the states where sales tax isn't in effect. Obtain a local business license for your hunting equipment store from your local city hall, as this license allows you to do business at your physical location. Fill out the application from the Bureau of Alcohol, Tobacco and Firearms to become a federal firearms licensee, which allows you to sell guns for hunting in your store.
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Secure a location. Review the commercial properties available in your area to house your hunting equipment store by visiting the LoopNet website or the website of a real estate agent in your community who specializes in commercial and business properties. Find a property with enough space to display the different equipment and supplies you offer and to store the inventory.
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Purchase equipment and supplies. Talk to area hunters to learn what types and brands of hunting equipment are popular in your region. Contact manufacturers of the equipment to purchase them at wholesale or bulk prices. Calculate what rate you need to mark-up items to ensure you cover your operating expenses and make a profit.
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Hire employees. Recruit staff members to work in your store. Seek out individuals with experience hunting as they can often provide recommendations of which products a customer should choose, and they can build up rapport with customers and increase the chances the customer will come back to your store. Employ a manager to oversee staff and the day-to-day operations of the business if you don't plan to do this yourself. Hire someone to manage the payroll and finances of the business.
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Promote the store. Advertise your hunting equipment store prior to the start of major hunting seasons in your area by placing advertisements on radio and television as well as in the newspaper. Create a website that allows customers to get more information about the products available in your store as well as place orders online and have them shipped to their home. This is a great way to expand your customer base beyond your local area, because if you have a website, anyone around the world can purchase hunting equipment from you.
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References
Resources
- Photo Credit duck hunter image by cherie from Fotolia.com
