I want to start an archery games / tag business. But how do I get started?
I'm going to guess that since you are here, you started just like everyone else and you typed some variation of that sentence into your favorite search engine. We're glad you did! Let us show you how you can start an archery games /tag business in 5 easy steps.
The first step is what often times scares the heck out of people in the start of any new business venture. It's also where you know things are starting to switch from being a dream to being a reality. That happens the first time you seriously ask "Who is going to pay for all of this?
1. Funding your new archery business
This part doesn't need to be so scary there are several options out there to be able to start an archery games / tag business. That's one of the best parts about this industry. It doesn't take a huge investment to get the ball rolling. While it's nice to have and is a great goal for the future, if you don't have the resources opening an arena isn't necessary. You can easily run an archery games rental business right out of your house or apartment. Since everything packs up so small you won't even have to give up much space to make it happen. Just need enough room for a couple duffle bags. Add to that the generally low cost of equipment when compared to other types of businesses and an archery games / tag business becomes very appealing to those wanting to start a business on a budget. (you can start an Action Archery Affiliate business for as little as $1499)
None the less money still needs to come from somewhere. If you don't have enough in savings to cough up the initial investment you could always get a new line of credit. If you'd like to have a little more wiggle room and get a little more money there is always the bank loan route. If neither of those is going to work out for you, you might want to consider taking on a partner to help split the costs. But, if the idea of giving up control of part of your company doesn't sit well with you, there's always the possibility of finding a silent partner/investor. These are just some of the ways that you could fund your new business. If you're creative, I'm sure you can come up with plenty of others.
2. Purchasing your gear / picking your archery games supplier
Deciding what gear to get and who to get it from is a decision that deserves a little thought. Some manufacturers out there will impose strict limits on the services you can perform. Some won't suggest enough controls and may lose out on business because the brand builds a bad reputation. Does the manufacturer sell you the equipment or is it just a lease? Can you purchase their equipment without having to become an affiliate or licensee of their company? Are there discounts on future purchases if you do decide to become an ambassador of their product? What other benefits would there be in aligning with this company? What games are available? Is it just one game or is that manufacturer trying to stay on the front edge of the archery games industry?
These are all questions that you should be asking yourself before you decide where you are going to make your purchase.
3. Forming your business
In all honesty, this is a question best suited for an accountant or a lawyer. There's a lot riding on a new archery games / tag business and you want to make sure that you have everything setup and legal before you find out the hard way that you are not. If you are not comfortable with what you need to do to file a new business with your state then it's really in your best interest to seek the help of a professional. Even using services like Legal Zoom will only make the process of filing easier. You still have to know what forms you should be filing to make sure that you and your family are protected in case something bad happens. Since I'm no lawyer, I'll just leave it here as there isn't really a whole lot more that I'm classified to say.
4. Getting Insurance
Nobody in their right mind should be letting people shoot arrows at each other for fun and profit without having an insurance policy. It's just a really bad idea. Getting insurance isn't always the easiest things as you will probably find many that have no idea what you are talking about because they haven't seen it for themselves yet. These agents and underwriters may just think you are a little crazy for even bringing the idea up. You can't really blame them for being a little near-sighted, though. On paper, the idea does sound a little odd, to say the least. But that's part of why it's so fun in the first place. Making sure that you have enough coverage is also critical. Just getting a General Liability policy will be cheaper but if anyone gets hurt personally you may be in a big pot of really hot water. That's why at Action Archery we connect people with the insurance agent we've been using for 5 years now. And, if someone wants to be an Action Archery affiliate we require that they get at least $2m in General Liability and $1m in Accidental. Sounds like it would cost you a lot right? Depending on the person, the business and the location you might be surprised at how affordable it can be.
5. Getting the word out / marketing / making money!!!
Now that you've got a new legal business and a bunch of archery games gear sitting around, how do you turn that into cash in your pocket right? That's the million dollar question! There are so many different ways to get the word out but we are going to just list a few that we think have the greatest return for new archery games / tag businesses.
- Hold a free event for your neighborhood. When people come make sure that you have marketing materials and pricing for if they would like to do it again
- Get a booth at a local farmers market. Often times markets like these love to have something new in the mix and you can negotiate a lower price than usual. Bring a couple sets of gear in case you can find some room for people to be able to try it out. And of course, bring tons of promotional material, but more importantly, raffle off a free party in exchange for their name phone number and email. This is one of the easiest ways for you to start building a marketing list.
- Facebook ads are a relatively low-cost way of getting the word out
- But nothing works like getting out there and just talking to everyone that you can. When they see your passion and excitement for your new business they won't have a choice but to get at least a little infected and want to try for themselves.
Any one of these ideas could get you paid events, but for the greatest effect, you will want to do all 4 of these and also find some others specific to your area.
There you have it. Action Archery's 5 steps to starting your own archery games / tag business. Now you're just 5 steps away to taking control of your future as you take control of your life. It's like they say, "You can either work on your dreams, or you can help someone else work on theirs!"
To get more information on how to start an Action Archery Affiliate Business Click Here