You have really interesting ideas and I like your approach. The thing that frustrates me where I'm located, in central Pennsylvania, USA, is that the shops here are small and have limited stock. The stock they do have is all the "flagship" bows and high end sights, quivers, rests, etc. These shops need to have more of the budget to mid-price point bows and accessories. I also like your idea of packaging bows in the shop, but them not being done by the manufacturer. Obviously if you've spent enough time in the business and you know what sells they'll be well setup and it takes the guesswork out for a brand new archer. Thanks for the video I watched your other ones on how you got started and I find it all very fascinating.
Looking great, Steven ! Should be a real winner for you with that exposure ! Hope parking is OK on that busy South Road to cope with customers ? How about a grand opening party ?
Free bows for anyone with "play" in there name. O and arrows. Door prizes for anyone with "GRE" in Thier name. Party pies. And Bundy rum. O and a room to roll swags out in. Bla hahaha.
Personally i think most important for an archery shop is to have small range to try out the bows how they shoot. What frustrates me in todays retail shops are there is no products in stock. You need to order it. I litterly stand and look on webpages or product catalogues in the stores. At least have the product range on display, 1 of each item for customers to look at. To avoid large stocks then just have it all on order i dont care. Like now. I want to buy a 3D archery compound bow. It looks like i need to travel to either Germany or Denmark to find somewhere to try bows out. Thats a 2 day trip for 1200 kilometers.
I worked for a shop fitter a decade or so ago, found your vid very interesting, thank you. So Steve, . . . when you going to set up a shop on the Gold Coast/Brisbane, (you'll make a killing)?
@@JuanLopez-pv8cn Lets face it, Archery Supplies is getting big enough now to look much further a-field, with what looks like a Supermarket format, it could easily take on the small outlets that supply barely entry level equipment. Archery Supplies could have SE QLD, and northern NSW out to the great divide, and even further without almost any competition. (Steve, . . . there's a HUGE archery community up here)!!!!
Hi Steve Love your videos Ive actually bought 2 bows a Recurve & just recently a compond bow online from your shop as a direct result of your unbiased videos ( plus the accessories ) You mentioned you perceive that automotive dealer replacements parts gross excessively high I can advise good one gross around 23-25% depending there mix of sale eg Retail Workshop Warranty & trade ( wholesale ) Id be very interested in the gross profit generated by an archery shop ? Cheers Greg
Depends on the product - X10's are 0%. I would like to mark up 25%. On compounds and recurve and top end sights you cant get that. Top end sights are less than 10%. Top end compounds are 10% or less.
I agree. When I go to an archery store. I want to see archery kit.. If you have it on the shelf I'll more likely buy it... I can get stuff online.. And I expect to wait... But the store has to have it.
I have been thinking very hard about buying a new press and draw board to start working on and setting up bows. I live in south central Kentucky there are a few shops within 50 miles of me but you can never get with them for one reason or another. And maybe if I do good on that I might think about getting some stock in for retail. Even if I don’t do good at least I will be able to do mine and families bows with the equipment.
I would and I did look at setting up in KY. I looked at buildings. I would have done US and overseas products. I think it woudl have been huge. KY is a great spot. Land was cheap. Lots of hunting. People to work. Yes not many shops around. You build a business. I also looked at setting up a range in KY. I would like a huge store and shooting ranges.
For the arrow rack - did you try to use plastic or card board tubes in the openings? You can use them from water pipes, you get them in different seizes and they are quite cheap. As an alternative there are card board tubes for delivery service packaging.
Hey sir, I’m at that point in my life that I’m ready to start a bow shop. Our area is in much need and I plan to take it a step further. Our local children have nothing in this town and I’d like to open a shop with a techno hunt or something similar. Would. You be willing to walk me through the startup process? Thanks
And as you said. Prices today are almost global. If the price diffrence is more then 5-10% i stop buying local and wait for shippment internationally instead.
Start selling PRIME and you’ll gain a customer FOREVER. ...despite Urban archery being the main dealer here in Aus. FOR GODs SAKE! You run VAP TKOs $60 cheaper than anyone in Aus. I bought the EXACT same dz and DIDNT have them cut and I paid $290. You’re easily the cheapest. You just need representation in every state... chances are I’ll probably come work for you!
If hoyt (or any other brand for that matter) dont support his business by providing him dealer or distributor rights, or provide him with a good enough cost price to then add a profitable margin, why should he bother supporting them? Regardless of the quality of the product, as a retailer he has to ensure that he gets a decent return on investment on the products he sells and stocks. Its not like he has an online store with minimal overheads, he has a bricks and mortar store with staff and high overheads. Putting the effort into selling and stocking a product that gives you a low financial return is worthless. Just because a bow has a high ticket price doesnt mean he actually makes a decent profit out of it. Good on him for looking out for his financial interests
I do stock Hoyt and sold a Hoyt Invicta today but top end is a rare sale. Most archers buy cheaper bows. I guess most people have a budget below $700. The RX was $2200. I think I paid $2100 for it. I have it down to $1700 now. In fact I purchased many Hoyts from the distributor and I found them online for less than what I paid for them. Makes it hard to sell. But I think I sold 4 RX1's.
Thank you for a "Behind the Scenes" look into an Archery Shop. Very interesting. Nicely done!!
You have really interesting ideas and I like your approach. The thing that frustrates me where I'm located, in central Pennsylvania, USA, is that the shops here are small and have limited stock. The stock they do have is all the "flagship" bows and high end sights, quivers, rests, etc. These shops need to have more of the budget to mid-price point bows and accessories. I also like your idea of packaging bows in the shop, but them not being done by the manufacturer. Obviously if you've spent enough time in the business and you know what sells they'll be well setup and it takes the guesswork out for a brand new archer. Thanks for the video I watched your other ones on how you got started and I find it all very fascinating.
Great Job Steven! Thanks for honesty and hope all the efforts will pay back:) Regards from Poland:) Jack
Looking great, Steven ! Should be a real winner for you with that exposure ! Hope parking is OK on that busy South Road to cope with customers ? How about a grand opening party ?
Yep I'm keen for a party.
What to you suggest for openning party? Wine, beer? what types of food?
Free bows for anyone with "play" in there name. O and arrows. Door prizes for anyone with "GRE" in Thier name. Party pies. And Bundy rum. O and a room to roll swags out in. Bla hahaha.
Wine & beer, simple finger food. Easy peasy. ;-)
Just saying ken. Your shit. Lol
I really enjoyed all the archery business insider you provided...keep the videos coming! Thanks!
Looks great Steven. Will be great to see it fully stocked
Personally i think most important for an archery shop is to have small range to try out the bows how they shoot. What frustrates me in todays retail shops are there is no products in stock. You need to order it. I litterly stand and look on webpages or product catalogues in the stores.
At least have the product range on display, 1 of each item for customers to look at. To avoid large stocks then just have it all on order i dont care.
Like now. I want to buy a 3D archery compound bow. It looks like i need to travel to either Germany or Denmark to find somewhere to try bows out. Thats a 2 day trip for 1200 kilometers.
I realize I am kinda randomly asking but do anyone know of a good place to watch new movies online ?
Best wishes for your new store. : )
Good move coming to the USA and doing your homework =)
I worked for a shop fitter a decade or so ago, found your vid very interesting, thank you.
So Steve, . . . when you going to set up a shop on the Gold Coast/Brisbane, (you'll make a killing)?
Yes Gold Coast
@@JuanLopez-pv8cn Lets face it, Archery Supplies is getting big enough now to look much further a-field, with what looks like a Supermarket format, it could easily take on the small outlets that supply barely entry level equipment.
Archery Supplies could have SE QLD, and northern NSW out to the great divide, and even further without almost any competition.
(Steve, . . . there's a HUGE archery community up here)!!!!
yep there are heaps of archers in the SE QLD area and no shops within 40min drive
Good video steve, keep it up bud 👍
Hi Steve
Love your videos Ive actually bought 2 bows a Recurve & just recently a compond bow online from your shop as a direct result of your unbiased videos ( plus the accessories )
You mentioned you perceive that automotive dealer replacements parts gross excessively high I can advise good one gross around 23-25% depending there mix of sale eg Retail Workshop Warranty & trade ( wholesale ) Id be very interested in the gross profit generated by an archery shop ?
Cheers
Greg
Depends on the product - X10's are 0%. I would like to mark up 25%. On compounds and recurve and top end sights you cant get that. Top end sights are less than 10%. Top end compounds are 10% or less.
AWERSOME!!🤩🤩
I agree. When I go to an archery store. I want to see archery kit.. If you have it on the shelf I'll more likely buy it... I can get stuff online.. And I expect to wait... But the store has to have it.
Very exciting time for you...
Hopefully your growth will result in cheaper Freight, & more LEFT Handed stock.
Best of luck!
The only way to make freight cheaper is by container shipments. With containers I can reduce the cost of bows by $50. But it is a large outlay.
I have been thinking very hard about buying a new press and draw board to start working on and setting up bows. I live in south central Kentucky there are a few shops within 50 miles of me but you can never get with them for one reason or another. And maybe if I do good on that I might think about getting some stock in for retail. Even if I don’t do good at least I will be able to do mine and families bows with the equipment.
I would and I did look at setting up in KY. I looked at buildings. I would have done US and overseas products. I think it woudl have been huge. KY is a great spot. Land was cheap. Lots of hunting. People to work. Yes not many shops around. You build a business. I also looked at setting up a range in KY. I would like a huge store and shooting ranges.
For the arrow rack - did you try to use plastic or card board tubes in the openings? You can use them from water pipes, you get them in different seizes and they are quite cheap. As an alternative there are card board tubes for delivery service packaging.
Yes I have used pipes before.
Hey sir,
I’m at that point in my life that I’m ready to start a bow shop. Our area is in much need and I plan to take it a step further. Our local children have nothing in this town and I’d like to open a shop with a techno hunt or something similar. Would. You be willing to walk me through the startup process? Thanks
Hi Steve. Will you have shooting lanes for the public. Cheers
Looking forward to dropping by! When are you looking to open? Any different focus on products?
And as you said. Prices today are almost global. If the price diffrence is more then 5-10% i stop buying local and wait for shippment internationally instead.
Where in Adelaide is the new shop and when are you planning on opening?
1232 South road, clovelly park
Have you seen or shot a pse edge 2050z or psecarroll intruder that is one of the bows I shoot out door 3d targets termament
Set one up in Brisbane
Looks awesome. Any ETA on the new shop opening? Jan? Feb?
Stocking last week. Hopefully 2 weeks.
Did I miss it, or aren’t you having a mini range for people to try the bows?
We have a shooting range.
Is the new shop replacing Lonsdale or a second storefront? Where is it?
No a new store, a different name. It will be run seperate from Archery Supplies. Different system, bar codes.
What sort of POS system will you run. We are thinking of progressing to a POS system before to long
Well we are going to test Shopify. See how it goes.
What’s the Stores Name?
Start selling PRIME and you’ll gain a customer FOREVER.
...despite Urban archery being the main dealer here in Aus.
FOR GODs SAKE! You run VAP TKOs $60 cheaper than anyone in Aus.
I bought the EXACT same dz and DIDNT have them cut and I paid $290.
You’re easily the cheapest. You just need representation in every state...
chances are I’ll probably come work for you!
You're not a Hoyt fan, always speaking down on it, so why do you think that the Rx1 doesn't sell by you
johan king he has said himself that in general he doesn’t sell many expensive bows as most of his customers are recreational archers
@@saahilminocha4403 selling it below the price he paid for it
If hoyt (or any other brand for that matter) dont support his business by providing him dealer or distributor rights, or provide him with a good enough cost price to then add a profitable margin, why should he bother supporting them? Regardless of the quality of the product, as a retailer he has to ensure that he gets a decent return on investment on the products he sells and stocks. Its not like he has an online store with minimal overheads, he has a bricks and mortar store with staff and high overheads. Putting the effort into selling and stocking a product that gives you a low financial return is worthless. Just because a bow has a high ticket price doesnt mean he actually makes a decent profit out of it. Good on him for looking out for his financial interests
@@johnryan6356 your hole comment is missing my point
I do stock Hoyt and sold a Hoyt Invicta today but top end is a rare sale. Most archers buy cheaper bows. I guess most people have a budget below $700. The RX was $2200. I think I paid $2100 for it. I have it down to $1700 now. In fact I purchased many Hoyts from the distributor and I found them online for less than what I paid for them. Makes it hard to sell. But I think I sold 4 RX1's.