I hate my job and want to open a ski shop!

Bostonian · Feb 4, 2009

Okay... Seeing that I am completely miserable at work and looking to start something of my own. I was thinking, how crazy would it be to start up my own ski shop in beautiful Waltham? With a small business loan, my MBA, and a passion for skiing... how tough could it be?

Pros: No other ski shop within miles (closest would be Newton, Woburn, Watertown (near brighton), and Framingham).
Cater to the wealthy suburbs of Weston, Lexington, Lincoln and Parts of Newton.
Working in an industry that I love
Passionate people who actually enjoy the winter

Cons: No ski areas locally (Maybe Blue Hills..?)
Recession
Lack of any real industry experience.

What do you guys think?

drjeff · Feb 4, 2009

Location sounds like its not bad at all. Probably need to cater a bit towards a combo of the fru-fru clientelle and their "totally gnarly" Shaun White loving adolescents in tow.

My hunch is though that after having to often put your true passion for the sport aside and do some role playing/a$$ kissing to cater to the clientelle, that one could become jaded

Time wise though, this probably isn't a bad time to consider something like this. An increasing supply of available retail space is a plus, atleast so far in New England, it seems like the ski/boarding industry is healthy, and by the time that you got your business plan together, secured the start up loans, and had the sign for "Bostonian's Ski + Board Shop" made and hung on the store front, you'd probably be getting darn close to the late summer/early fall pre-season buying time

Follow your dream, and enjoy life! (Sounds like the end of a Warp Daddy post there

)

ctenidae · Feb 4, 2009

Just don't use your house as collateral. Set up as an LLC or S-Corp right from the start. Be prepared to fail, and don't be afraid of it.

My .02, provided free of charge.

ski_resort_observer · Feb 4, 2009

A few cons you forgot -

working 60+ a week, every weekend, for little pay for the first couple of years

can't call in sick on powder days or any other day - the buck stops with you.

Jisch · Feb 4, 2009

I don't know much about the ski business, but every once and while someone posts something like this up over in MTBR (yes I CAN relate everything to MTBing). The quote that always makes its way to the top is "how do you make a small fortune in biking? start with a LARGE fortune".

It seems the slack times are tough in MTB and I have to imagine the same would be true of skiing (even longer slack time). I know of a couple of dual sport shops around - one down the street does scuba and skiing, another does MTB and ski/snowboard. Both of those shops seem to be able to pull off the dual thing, but often it seems like shops do one well and the other as side business.

From the threads I've seen the most important thing is to look at it like a business first, that means business plan, marketing, financing plan etc, etc. You can't go into it on a whim and without serious up front work. I know a few people who own bike shops and it has essentially killed their enthusiasm for biking, not to mention their busy season is when you'd like to be out biking.

The inventory must be a killer expense - if you don't have enough inventory no one will shop there, if you carry too much your costs will kill you. You also have to consider that SkiMarket has a pretty good presence in the area, how hard will it be to compete with them?

Anyway don't mean to burst any bubbles and maybe a ski shop is different, but I don't think so.
John

SkiDork · Feb 4, 2009

just one more con (sorry)

The Internet has made it just that much harder for ski shops to survive... e.g. Al's Ski Barn...

But I wish you luck nonetheless...

Bostonian · Feb 4, 2009

Good stuff...

Well I am fully aware of Ski Market's presence in the area (especially when I bought my Salomon's last year from them). I can imagine the hours are going to suck, as I would be ultimately responsible for stocking inventory, ordering, dealing with the customer base and more. As with any business a sound business plan is needed, and I hope with my mba I have a good grasp on it.

Hmm maybe this weekend when I have a little more free time, I may try drawing up a business plan. I am curious though how much it would cost to stock up inventory? I am sure reading trade magazines, and such would help. Ideally, a shop like Northern Ski Works would be awesome to have with tuning and retail. Hmmm...

ALLSKIING · Feb 4, 2009

Do a business plan. That is number 1 before you look into it anymore. Overhead is what kills business, you have to figure out how much you need to make to pay your bills each month.

You also need to have 5 years of cash to live off of so you don't draw from the business. Any profit you make needs to go back into the business for the first 5 years.

Again as ctenidae said don't use your house as collateral.

For the first five years don't expect to ski much. It will pretty much be your life.

Your statement of "how hard could it be" worries me and shows me you have alot of homework to do.

Do the homework before you invest.

Warp Daddy · Feb 4, 2009

Jisch said:
From the threads I've seen the most important thing is to look at it like a business first, that means business plan, marketing, financing plan etc, etc. You can't go into it on a whim and without serious up front work.

This is the MEAT of the matter .AS an MBA you KNOW this .

Follow your passion BUT do so intelligently with ample foresight and business planning and WILLINGNESS to to SACRIFICE your short term pleasure and sometimes income to GROW your business !

If you go into this, go in with OPEN eyes and let your passion AND YOUR BUSINESS PLANNING be your guide

But in the end one as doc jeff teases me about ---------- One should ALWAYs DO what they LIKE and LIKE what they DO !

My Best to you

frozencorn · Feb 4, 2009

That's the spirit!

The fella who owns Norwood's Jackson Ski and Sport (killer ski store that used to take residence in Easton) visits in here from time to time and may be able to give some pointers. There are obviously a few others who work in ski shops who might have pros/cons for you.

I want to quit my job and ski. If you hire me, can I go with a full-time, flexible schedule?

billski · Feb 4, 2009

I can't speak for running a shop, but I can talk to market demographics, since I live in your target market. Here are some random thougths.

First and foremost, find out how big your market is. For 15 years I've been looking for people to ski with in this town and only have found one other die-hard. Then again, my circle could be small. Lots of people talks about skiing here, or how they used to a lot, but when the rubber meets the road,they don't go. Don't go my opinion, it's too narrow, but you've got homework to do to find out. Is there ENOUGH business to make a business out of it.

Second, I don't think you've sized up your competition sufficiently. It might be bigger than you think. They amount of stuff that pours out of Sports Authority and Ski Market is incredible. If you've got an MBA, you know what you've got to do.

I'm hurtin to have a competent shop here. Since Ski Haus wilmington closed up and moved north of the border, all I have alround me is Ski Market in Woburn (I think they call it Ski Underground) and I'm not at all impressed. Simply put, there is nobody around here to do a competent tune up, or that I could possibly trust for advice in buying equipment. I haul all my business to shops near resorts where I can find competent folks, or buy online.

Then, how are you going to differentiate yourself?
Saying all this, one of the big things on people's minds in this market is CONVENIENCE. People around here are so damn short on time, that it is amazing what they will drop money for takeout food, home service and repair and so on to save 15 minutes. Maybe you could offer tuneups with pickup/dropoff service for a price?
Offer free seminars to get people into the store, etc.

Lastly, how will you sustain your fixed costs from March to October when nobody's buying? You'll need to diversify into another business - other complimentary outdoor sports. Brutal competition there.

With no real industry experience, maybe you should consider managing an extant shop or persuading another retailler to open in said area.

But what do I know, I just like to ski and hit trees.... :dunce:

Good luck and good thinking!

Bill

Bostonian said:
Okay... Seeing that I am completely miserable at work and looking to start something of my own. I was thinking, how crazy would it be to start up my own ski shop in beautiful Waltham? With a small business loan, my MBA, and a passion for skiing... how tough could it be?

Pros: No other ski shop within miles (closest would be Newton, Woburn, Watertown (near brighton), and Framingham).
Cater to the wealthy suburbs of Weston, Lexington, Lincoln and Parts of Newton.
Working in an industry that I love
Passionate people who actually enjoy the winter

Cons: No ski areas locally (Maybe Blue Hills..?)
Recession
Lack of any real industry experience.

What do you guys think?

Bostonian · Feb 4, 2009

ALLSKIING said:
Do a business plan. That is number 1 before you look into it anymore. Overhead is what kills business, you have to figure out how much you need to make to pay your bills each month.

You also need to have 5 years of cash to live off of so you don't draw from the business. Any profit you make needs to go back into the business for the first 5 years.

Again as ctenidae said don't use your house as collateral.

For the first five years don't expect to ski much. It will pretty much be your life.

Your statement of "how hard could it be" worries me and shows me you have alot of homework to do.

Do the homework before you invest.

Well without having a home to invest that isn't so much an issue, I would be looking at a first time small business loan, if I were to do this. Secondly, as you said, having a business plan is key. I am sure I can even get some of my old business school cases to review in seeing what works and what doesn't in a recreation industry such as skiing.

It would be 6 months at least before opening if I do this, since as a detailed oriented person (an auditor by trade), I would want to ensure every loose end is tied up, all expenses are accounted for and budget accordingly. I can only imagine how much inventory would cost... Add that with rent, utilities, and if I hire a second person (payroll and taxes) it turns out to be a lot more work then just "hey it could be a fun proposition".

billski · Feb 4, 2009

SkiDork said:
just one more con (sorry)

The Internet has made it just that much harder for ski shops to survive... e.g. Al's Ski Barn...

But I wish you luck nonetheless...

several brick and mortar stores I'm aware of have made it a business to also to sell online. Pinnacle in Stowe sells all its' excess and demos online. So do the Ski93 shops. Good strategy for unloading excess online without a lot of effort or expense.

billski · Feb 4, 2009

Bostonian said:
and if I hire a second person (payroll and taxes) it turns out to be a lot more work then just "hey it could be a fun proposition".

yeah, you need someone skilled at service - tuneups, repairs, mountings, etc. You gonna learn that on the fly? Is it worth the liability?

I'd also inquire what liability insurance is gonna run you. I suspect it's a non-trival rate..

andyzee · Feb 4, 2009

Don't do it. It's risky in the best of times, which we're not in right now.

ALLSKIING · Feb 4, 2009

You know billski said it best. Go work in a ski shop to get a better feel for what you need to do and get a first hand look at how a ski shop runs.

SkiDork · Feb 4, 2009

Bostonian said:
I would want to ensure every loose end is tied up, all expenses are accounted for and budget accordingly.

If you examine all that, you'll prolly never open.

Bostonian · Feb 4, 2009

billski said:
yeah, you need someone skilled at service - tuneups, repairs, mountings, etc. You gonna learn that on the fly? Is it worth the liability?

I'd also inquire what liability insurance is gonna run you. I suspect it's a non-trival rate..

Clearly the more and more I put some actually thought and homework into this idea, the higher the risk is. From an operations aspect, I do understand how to run a business. budgeting and reconciliation of the books is almost second nature to me. Marketing is something I have worked on and a good grasp with. Strategic planing and management is tough, but I think I have a firm grasp on it. However my knowledge of skilled services such as tuneups, repairs and etc is very scant to non-existent. *sigh*.

andyzee said:
Don't do it. It's risky in the best of times, which we're not in right now.

That is even more of a concern. With the market as bad as it is now and people worrying about holding onto a job, buying new equipment could be the last thing on their mind. It's more of a dream then a reality. Oh well, it is still a nice thought especially as I sit at work writing audit reports lol

wa-loaf · Feb 4, 2009

Bostonian said:
Okay... Seeing that I am completely miserable at work and looking to start something of my own. I was thinking, how crazy would it be to start up my own ski shop in beautiful Waltham? With a small business loan, my MBA, and a passion for skiing... how tough could it be?

Pros: No other ski shop within miles (closest would be Newton, Woburn, Watertown (near brighton), and Framingham).
Cater to the wealthy suburbs of Weston, Lexington, Lincoln and Parts of Newton.
Working in an industry that I love
Passionate people who actually enjoy the winter

Cons: No ski areas locally (Maybe Blue Hills..?)
Recession
Lack of any real industry experience.

What do you guys think?

I hate my job too, can I be your assistant manager? I have some ski shop sales and tuning experience . . .

What are you going to do for summers? Biking might be tough because Belmont Wheelworks is 500lb gorilla in the area.

andyzee · Feb 4, 2009

Bostonian said:
Clearly the more and more I put some actually thought and homework into this idea, the higher the risk is. From an operations aspect, I do understand how to run a business. budgeting and reconciliation of the books is almost second nature to me. Marketing is something I have worked on and a good grasp with. Strategic planing and management is tough, but I think I have a firm grasp on it. However my knowledge of skilled services such as tuneups, repairs and etc is very scant to non-existent. *sigh*.

Bostonian said:
That is even more of a concern. With the market as bad as it is now and people worrying about holding onto a job, buying new equipment could be the last thing on their mind. It's more of a dream then a reality. Oh well, it is still a nice thought especially as I sit at work writing audit reports lol

I feel your pain, experienced it many time myself, then reality sets in.

I hate my job and want to open a ski shop!

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