Opening/Owning a Tack Shop
Just an idea Iíve had mulling around in my head for a while. It probably wonít come to fruition, but itís worth a think about and Iíd like to see what other people think.
Iíve always thought it would be cool to have my own business. When I was younger I always dreamt of having my own interior design business; Well that sure didnít happen! But Iíve also lately been very frustrated by the limited tack I can get for my chosen disciplines without having to shop online. It seems that all the tack shops in/around my city (about 5 or 6) cater to dressage, eventing, showing, SJ etc. But donít carry much in the way of tack or accessories for disciplines such as Campdrafting, polocrosse, cattle work, mounted games, ASH/QH showing, etc. Basically disciplines geared more towards the Ďstock breedsí. They also tend to all sell the same brands, without a lot of range. There is one tack shop that has imported western saddles and bridles, but they still lack in the general, everyday items that stock people use, and have a very limited range of curb bits.
So, in my infinite wisdom, I started thinking about how it would be really cool to open a tack shop in my city geared toward the disciplines often overlooked by city people, or very Ďenglishí riders.
My main idea is to gear it toward showing the QH or ASH, and Ďworkingí disciplines such as Campdrafting, polocrosse, team penning, cutting, reining, etc. A big emphasis would also be on everyday tack for stock people, so a larger range of barcoo bridles for ASH people, one-ear or simple western bridles for QH people, things like rope reins and split reins, working spurs, good quality breastplates, a large range of bits including snaffles and curbs, etc. I would also be interested in researching the latest technologies coming out of the US, I have experienced great things with thinline, for example, and think it would be a great product to be able to get in-store, instead of on-line.
So I have a TON of things I would like advice or opinions on. I am aware that business will differ greatly between countries, and the economy in Australia right now is very different to say the US, but all opinions are valued. Especially those of Aussies who know what Iím talking about :] I personally am really bad with money, etc but have a friend who is also interested who works at a bank, so she would be good for that side of things. I would be more into researching products and suppliers, and actually selling our products. SoÖ
Firstly, does the idea sound feasible?
Are there any qualifications/specific knowledge you need before venturing into owning your own business?
How would you go about sourcing products/suppliers?
What are some of the biggest costs involved? (leasing a shop, staff wages, rates, etc.)
What are some of the advantages/disadvantages to owning your own business/owning a tack shop?
And lastly, any advice, thoughts, or opinions will gladly be heard and taken into account.