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How to Start a Skate Shop

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on April 1, 2022 Updated on March 13, 2024

Investment range

$1,550 - $49,100

Revenue potential

$164,000 - $550,000 p.a.

Time to build

0 – 3 months

Profit potential

$65,000 - $82,000 p.a.

Industry trend

Do you love all things skating? You can start a skate shop and join a growing industry of skaters and skate pros. Skateboarding is extremely popular among younger people, as a hobby and a mode of transportation. The skateboard industry is worth more than $2 billion and growing, so there is good money to be made. You could even start an online skate shop to keep your costs low and eventually open a physical skate shop. 

But before you put on your skate shoes and start rolling, you need to understand the business. Lucky for you, this step-by-step guide will provide all the business know-how you need to become a successful skate shop owner.

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Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a skate shop has pros and cons to consider before deciding if it’s right for you.

• Good Money – Markups on skating items are fairly high
• Flexibility – You can start an online skate shop from home
• Share Your Passion – Help others do what they love
• High Startup Costs – Startup costs for a physical skate shop are high
• Saturated Market – Compete with skate shops and sporting goods stores

Skate shop industry trends

Industry size and growth.

• Industry size and past growth – The US skateboard industry is worth $2.19 billion and has grown 13% since five years ago.(( https://www.statista.com/statistics/935225/skateboard-market-value-worldwide/ ))
• Growth forecast – The US skateboard industry is projected to grow nearly 10% by 2025.

Trends and challenges

Trends in the skate shop industry include:

• Social media videos, particularly on TikTok, are going viral and increasing interest in skateboarding.
• More and more females, known as “skater girls”, are adopting the skateboarding hobby.

Challenges in the skate shop industry include:

• There have been recent shortages of skateboards and equipment due to increasing demand.
• Skateboarding is being outlawed in more and more public areas, which may start to decrease demand.

How much does it cost to start a skate shop business?

You can start an online skate shop for as little as $1,500. You don’t have to purchase inventory if you can find a supplier that offers dropshipping. Dropshipping means that when an order is placed on your website, you order it from the manufacturer and they package it and ship it directly to the customer. 

To start a physical skate shop costs about $50,000 or more. Costs include a shop space rental and inventory. 

How much can you earn from a skate shop business?

Good skateboards cost between $75 and $150. Your profit margin for an online shop after the cost from the supplier should be about 40%. These calculations will assume that your average sale to a customer will be $150 total if they buy accessories and a skateboard.

In your first year or two, you might make 3 sales a day, bringing in $164,000 in annual revenue. This would mean $65,000 in profit, assuming that 40% margin. As your brand gains recognition, sales could climb to 10 sales a day. At this stage, you’d rent a commercial space for your skate shop and hire staff, reducing your profit margin to around 15%. With annual revenue of nearly $550,000, you’d make a tidy profit of $82,000.

What barriers to entry are there?

There are a few barriers to entry for a skate shop. Your biggest challenges will be:

• Finding a good supplier of skateboarding items
• The startup costs if you open a physical skate shop

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Step 2: hone your idea.

Now that you know what’s involved in starting a skate shop, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research skate shops in your area and online to examine their products, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the market is missing a skate shop that also sells roller skates or snowboards. 

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as penny boards or longboards.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products or services

In addition to skateboards you can offer skating apparel, helmets, and other skateboarding gear. You could also sell roller skates, rollerblades, and snowboards with related equipment.

How much should you charge for skate equipment?

Your prices will depend on your costs to acquire the items from your supplier. You should aim for a profit margin of about 40%. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will tend to be a younger demographic who you can find on sites like TikTok or Instagram. 

Where? Choose your skate shop location

Finding the right location for your skate shop can make all the difference. Look for a spot that’s a hub for skaters, with high foot traffic, nearby skate parks, and limited competition. The ideal location will help you capture a passionate customer base and stand out in the crowded skate shop market.

When selecting your location, consider the layout and design of the space, ensuring that it matches the vibrant and creative spirit of the skating culture. You may also want to consider the proximity to complementary businesses, such as streetwear or music stores.

By choosing the perfect location for your skate shop, you can create a thriving business that serves the needs of the skating community while embracing the unique spirit of the sport. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Skate Shop Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better 
• Name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “skate shop” or “skateboard shop”, boosts SEO
• Name should allow for expansion, for ex: “Skater’s Paradise” over “Freestyle Skate Docs”
• Avoid location-based names that might hinder future expansion
• Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Skate Shop Business Plan

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

• Executive Summary: Outline your skate shop’s mission to provide a comprehensive range of skateboarding gear, apparel, and accessories, and your strategy to create a community hub for local skaters.
• Business Overview: Describe the skate shop’s focus on selling skateboards, parts, safety gear, and related streetwear, catering to both beginners and experienced skaters.
• Product and Services: List the products you’ll offer, including complete skateboards, custom components, and repair services.
• Market Analysis: Assess the local demand for skateboarding products, identifying your target customer base, such as young skaters or skateboarding enthusiasts.
• Competitive Analysis: Compare your shop to other local sports and skate shops, highlighting your unique offerings like custom board building or exclusive brands.
• Sales and Marketing: Outline your marketing strategies, which might include social media campaigns, sponsoring local skate events, or hosting skateboarding workshops.
• Management Team: Present the qualifications and backgrounds of your team, emphasizing their expertise in retail, skate culture, and business management.
• Operations Plan: Describe the daily operations of your shop, including inventory management, customer service, and community engagement activities.
• Financial Plan: Provide an overview of your financial projections, including startup costs, pricing strategy, and expected revenue.
• Appendix: Include supporting documents such as market research data, supplier contracts, or sample marketing materials that underpin your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to skate shops. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your skate shop will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have. 

Form Your LLC

Choose Your State

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a skate shop business. 

Step 8: Apply for Skate Shop Business Licenses and Permits

Starting a skate shop business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your skate shop business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. 

You may want to use industry-specific software, such as LS Retail , Vend , or Retail Pro , to manage purchasing, inventory, and invoicing.

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial. 

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Starting a skate shop is an exciting venture, and success hinges on effective marketing strategies beyond just having a website and networking. Here are some practical tips to boost your skate shop’s visibility and sales.

• Social Media Challenges: Engage your audience with skateboarding challenges on platforms like Instagram or TikTok, encouraging user-generated content that showcases your products and builds a community around your brand.
• Local Partnerships: Collaborate with local skate parks, schools, or youth centers to sponsor events, workshops, or competitions, fostering a strong connection with the local skateboarding community.
• Influencer Collaborations: Partner with local skateboard influencers or enthusiasts to create authentic content that highlights your products, reaching a broader audience through the influencer’s followers.
• Skateboarding Workshops: Host beginner skateboarding workshops or clinics, attracting newcomers to the sport and providing an opportunity for them to purchase gear directly from your shop.
• Limited Edition Releases: Create a sense of urgency and exclusivity by periodically releasing limited edition skateboard decks, apparel, or accessories, encouraging repeat business and word-of-mouth marketing.
• Community Events: Organize and sponsor community events like skate meetups, movie nights, or art shows, creating a positive image for your shop and strengthening ties with the local skate scene.
• Customer Loyalty Programs: Implement a loyalty program offering discounts, exclusive access, or freebies to repeat customers, incentivizing them to choose your skate shop over competitors.
• Unique Merchandise: Design and sell unique, custom-branded merchandise that extends beyond traditional skate gear, creating an additional revenue stream and enhancing brand visibility.
• Skate Team Sponsorship: Sponsor a local skateboarding team or individuals, providing them with gear in exchange for promoting your brand during competitions and on social media.
• Interactive Store Displays: Create interactive displays in your store, allowing customers to test products, view skate videos, or even design their custom decks, enhancing the in-store experience and driving sales.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your skate shop meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your skate shop business could be: 

• Skateboards, roller skates, snowboards, and all the trimmings
• Affordable top-quality skateboards and accessories
• The best skateboards and accessories for serious skater girls

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a skate shop business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in skate shops for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in skate shops. You’ll probably generate new customers or find companies with which you could establish a partnership. 

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows and you open a shop, you will likely need workers to fill various roles. Potential positions for a skate shop business include:

• Store Clerks – make sales, customer service
• General Manager – scheduling, ordering, accounting
• Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Skate Shop – Start Making Money!

Skateboarding is booming again, and starting a skate shop online is easy and only takes a small investment. You can grow your business and eventually open a physical shop that could grow into a chain. It’s a growing $2 billion industry, so there is good money to be made. It’s also a fun business, since you can talk to people in your shop who share the same passion for all things skating.

You’ve now got all the information you need to be an entrepreneur, so roll on and get your successful skate shop off the ground!

• Skate Shop Business FAQs

Yes, a skate shop can be profitable. Gross profit margins are high, so if you sell quality products and a variety of products, you can make good money.

Your prices will depend on your costs to acquire the items from your supplier. You should aim for a profit margin of about 40%. Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

To sell skateboards online, start by setting up an e-commerce website or utilizing existing online marketplaces. Create engaging product descriptions, high-quality images, and detailed specifications for each skateboard. Implement secure online payment options and ensure a user-friendly checkout process. 

To attract customers and promote your skate shop effectively, utilize a multi-channel marketing approach. Develop a strong online presence through social media platforms, blogs, or vlogs that focus on skateboarding culture, tutorials, or product reviews. Collaborate with local skateboarding communities, skate parks, or schools to organize events or sponsor competitions.

A skate shop can offer a wide range of skateboarding products. Some common products include complete skateboards, skateboard decks, trucks, wheels, bearings, grip tape, protective gear, shoes, apparel, accessories, and skateboarding-related merchandise. 

Emphasize exceptional customer service and a welcoming atmosphere that caters to skateboarders of all skill levels and ages. Offer a curated selection of high-quality products that cater to the specific needs and preferences of your target market. Develop a strong brand identity and engage with the skateboarding community through collaborations, events, or social media interactions. Provide unique services or experiences, such as custom board building, skate ramp installations, or skateboarding workshops. 

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Skate Shop Name
• Create a Skate Shop Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business
• Apply for Skate Shop Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Skate Shop - Start Making Money!

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How to Start a Skate Shop

The skateboarding culture was first introduced in America in the mid-1940s. Today, the culture encompasses the values of artistic expression, mutual respect for fellow man, social networking, and respect for our Mother Earth. Despite its popularity across the globe, the skating community is always in need of positive role models, committed to pass on the values and traditions the skateboarding culture embodies.

Learn how to start your own Skate Shop and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start a skate shop by following these 10 steps:

• Plan your Skate Shop
• Form your Skate Shop into a Legal Entity
• Register your Skate Shop for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Skate Shop
• Get the Necessary Permits & Licenses for your Skate Shop
• Get Skate Shop Insurance
• Define your Skate Shop Brand
• Create your Skate Shop Website
• Set up your Business Phone System

We have put together this simple guide to starting your skate shop. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Skate Shop Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your skate shop?

Business name generator, what are the costs involved in opening a skate shop.

There are a number of investments you’ll need to make before opening your doors. First, you’ll need a storefront. Location is critical to the survival of your business. Pick an area that’s easy to get to, has foot traffic, and is close to your local skate park. Depending upon size and location, rent can run anywhere from $1000/month to several thousand. When budgeting, plan on setting aside first and last month’s rent as a deposit for your space.

Once you know the size and layout of your new space, it’s time to start purchasing the necessary items to set up shop. A few items you’ll need are:

• Slat walls for displaying decks
• Tools for working on skateboards - skate tool, razor blades, Allen wrenches, screwdrivers, and sockets
• Glass display cases for accessories
• Fixtures and shelving for clothes and shoes
• Music system
• TV/DVD player for skateboard videos
• Credit card machine
• Cash register

The biggest mistake new entrepreneurs make is carrying products in only one price range. While you’ll need to carry some complete sets, the bulk of your clientele will want their own custom board, so stock your inventory with all the necessary accessories. Your inventory should include decks for all experience levels, which wholesale for $10-$25, wheels, which will put you out about $7/set, and trucks which start at $12/set. Build a relationship with a brand that manufactures products you believe in, ensuring you deliver a quality product every time.

Your inventory should also include a small selection of skater apparel and shoes. Inventory will be your biggest startup expense and can range anywhere from $50,000 to $100,000, depending upon how much merchandise you want to start out with.

What are the ongoing expenses for a skate shop?

Your biggest monthly expense will be maintaining a suitable selection of inventory. If you decide to maintain an online store, there will be fees to host and maintain your site. Hosting skate events at least twice a year will get your name out in the community. June 21st is Go Skateboarding Day, so mark your calendar and host a special event that day. The costs associated vary depending upon how large your event is and how much support you’re able to get from other businesses in the community.

Many skate shop owners also sponsor a skateboard team, showcasing the top local talent. Team participants should be supplied with team shirts and free products. Schedule them for demos whenever possible and reward them for a job well done. As the team progresses and funds become more readily available, you’ll need to consider paying them as well.

Who is the target market?

You’ll welcome the novice seeking advice and products to help get them started. The shop will also attract a customer base who, while not skaters, appreciate a specific shoe or clothing brand that you carry. Your bread and butter will be the individuals who have found a common bond with others in the community through skating. Each of these clients are critical to your business’ survival.

How does a skate shop make money?

Revenue is generated through each sale you make. Because your profits are tied directly to sales, you’ll want to maintain a full service operation, offering your customers more than just the standard skateboard. Remember, you’re supporting the culture and all that it represents.

Skaters recognize the value of a quality product and understand the costs associated. Beginner boards retail for approximately $50 and pro boards customized for the experienced skater retail as high as $500. Be sure to stock your shelves with a variety of options for every skill level; the novice skater will likely not be willing to shell out $150 for their first board.

How much profit can a skate shop make?

Skate shop owners report a profit ranging from $30,000 to upwards of $200,000 annually. Revenue generated is largely dependent upon the community you’re a part of, the location you decide on for your storefront, and the quality of products you maintain.

How can you make your business more profitable?

While opening a skate shop has probably been a longtime dream, it’s more than just hanging out with like-minded individuals each day. Let’s look at a few ways you can ensure your business yields the profit you desire.

• Many small skate shop owners shy away from maintaining a website, but an online store has the potential to almost double your income when managed properly.
• Make space in your store for skaters to gather and talk. This backs your claim that you support the skating community and will generate additional sales.
• Have snacks and drinks available for purchase. Why send them somewhere else to buy refreshments when they can purchase them from you?
• Adjust your hours to fit your client base. Many skate shops maintain hours that fit their client’s needs. Consider opening from 10-7 to accommodate those who work or are in school during the day. Saturdays are a must, as that’s the busiest day for skateboard shops.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your skate shop is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

State and Local Licensing and Permits Certain state permits and licenses may be needed to operate a skate shop. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Skate Shop needs and how much it will cost you by reading our guide Business Insurance for Skate Shop.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a skate shop

Word of mouth and being active in the skate community will be your greatest advertising, but there are a few other, low-cost things you can do to get your shop’s name recognized.

First, design a logo that is unique and recognizable. Have t-shirts and stickers made. The skaters will wear your t-shirt and cover their decks with your stickers, essentially providing you with free advertising.

Be proactive within the skate community by hosting local events. This provides something fun and positive for the skaters to do, as well as generates excitement about what you’re trying to do with your shop.

Lastly, get yourself set up with social media accounts. Social media is the perfect tool for keeping your customers apprised of store specials and upcoming events. And it’s free!

How to keep customers coming back

The best way to attract and retain customers is integrating yourself within that community. Getting to know them on a more personal level offers insight into what products and services they’re looking for. It also creates a loyal customer base that will continue to grow.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

Successful skate shop owners are fully immersed in the skating community. They are passionate about sharing their wisdom and love of the sport, as well as offering skaters a place to interact with like-minded individuals.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a skate shop?

As the owner of a skate shop, your daily activities will extend beyond the mundane tasks it takes to run a business.

Some of the most critical daily tasks required of a skate shop owner:

• Maintain accurate inventory of products
• Place product orders as needed
• Maintain online store (if you choose to have one) and ship orders as they come in
• Keep up-to-date on the latest trends within the skating community

What are some skills and experiences that will help you build a successful skate shop?

Experience in the sport itself is critical. Customers will come to you for advice about the specifics of a board or the feel of a shoe. When a skater moves to a new area, the first place they’ll find is the local skate shop. They’ll want to know where the best places are to skate, what type of events are in the area, and what type of support skaters receive from the community.

The second most critical skill you’ll need is the ability to listen and observe. Understand your audience and get to know their ever-changing needs. Listen when they tell you about a product or brand they desire. Offer them the support they need when a community issue arises. Skate parks and shops are often the only community support skaters receive.

There are a number of great resources for skateboard store owners to take advantage of. IASC and Board Retailers Association both offer memberships with invaluable benefits. They help build relationships between retailers and business owners and conduct research for the skateboard industry. Additionally, memberships often come with discounts on products and events happening across the nation.

What is the growth potential for a skate shop?

Most skate enthusiasts make a conscious choice to support the small, local skate shop over the big chains or online stores. With that in mind, you will likely want to keep your skate business small and personal. Your success will come from the types of products you sell and the access your customers have to other skate products in your immediate area.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

How and when to build a team

Many skate shop owners hold off on hiring employees for the first couple years. When you’re ready to take on employees, you’ll likely have a number of customers who’ve inquired about a job with your store. Build a solid team by choosing applicants who show a genuine interest in building up the skating culture and are knowledgeable in the profusion of product options.

Useful Links

Industry opportunities.

• Board retailers association
• International association of skateboard companies
• Learn about more Family Fun Business Ideas!

Real World Examples

• Profile on small independent skate shop
• Independent skate shop - Labor

Further Reading

• Ask The Expert: How Do I Open Up My Own Skate Shop (And Keep It Open)?
• Opening Your Own Skateboard Shop

Have a Question? Leave a Comment!

How to write a business plan for a skate shop?

Creating a business plan for a skate shop is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a skate shop business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a skate shop?

• What information is needed to create a business plan for a skate shop?
• What goes in the financial forecast for a skate shop?
• What goes in the written part of a skate shop business plan?
• What tool can I use to write my skate shop business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write a skate shop business plan in the first place.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your skate shop is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your skate shop, you'll have to:

• Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
• Determine the pace at which the business needs to progress to meet its objectives as scheduled,
• Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To get visibility on future cash flows

If your small skate shop runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your skate shop's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your skate shop business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your skate shop's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your skate shop.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your skate shop and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your skate shop's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your skate shop, let's explore what information is required to create a compelling plan.

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

Information needed to create a business plan for a skate shop

Drafting a skate shop business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a skate shop

Carrying out market research before writing a business plan for a skate shop is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

Your market research may reveal that customers could be interested in skateboards with a modern design, as well as skateboards that are more closely associated with classic styles. Additionally, your market research might indicate that customers may be more likely to purchase skateboards with additional features such as LED lights, built-in speakers, or other tech-related elements.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your skate shop.

Developing the sales and marketing plan for a skate shop

Budgeting sales and marketing expenses is essential before creating a skate shop business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and equipment needs of a skate shop

As you embark on starting or expanding your skate shop, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

A skate shop might incur staffing costs such as salaries for employees, benefits and payroll taxes. They may also need to pay for equipment such as skateboards, protective gear, and tools for repairs and maintenance. Additionally, they may need to pay for store fixtures and supplies, as well as advertising and other marketing costs.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your skate shop's financial forecast?

The financial forecast of your skate shop's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a skate shop are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a skate shop shows how much revenue and profits your business is expected to generate in the future.

Ideally, your skate shop's P&L statement should show:

• Healthy growth - above inflation level
• Improving or stable profit margins
• Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established skate shop. And similarly, an established company should showcase a higher level of profitability than a new venture.

The forecasted balance sheet of your skate shop

The projected balance sheet of your skate shop will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

• Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
• Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

Analysing your skate shop projected balance sheet provides an understanding of your skate shop's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your skate shop's liquidity and solvency:

• A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
• A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your skate shop has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your skate shop business plan.

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

• Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
• Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
• Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your skate shop business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a skate shop.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

Having this table helps understand what costs are involved in setting up the skate shop, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a skate shop business plan is understood, let's focus on what goes into the written part of the plan.

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

The written part of a skate shop business plan

The written part of a skate shop business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.

The written part of a skate shop business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The first section of your skate shop's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your skate shop, current trends, and potential growth opportunities.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

The second section in your skate shop's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your skate shop, you may want to emphasize its potential for high foot traffic and the potential for easy access to customers. You could explain that it is situated in a densely populated area, with a high number of young people who may be interested in skateboarding, and that it could be easily accessed by public transportation or by car. You may also want to emphasize the potential for visibility of the shop, and explain that it could be located in an area with high visibility or potential for advertisement.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your skate shop business plan should include a detailed description of what your company sells to its customers. 

For example, your skate shop might offer a wide selection of skateboards, longboards, and accessories such as bearings, trucks, and wheels to ensure customers can find the right set up for any skillset. It could also offer services such as skate sharpening, repairs, and custom fitting to help customers maintain their equipment and get the most out of their rides. Additionally, it could provide skate lessons to help teach newcomers the basics of skateboarding, as well as advanced lessons for experienced riders to help them improve their skills.

The reader will want to understand what makes your skate shop unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your skate shop business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your skate shop, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your skate shop aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include skateboarders between the ages of 13-18. They would be looking for the latest skateboard decks, trucks, and wheels to customize their skateboard. They would also be interested in apparel, such as t-shirts, hoodies, and hats that feature popular skate brands and logos.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your skate shop.

5. The strategy section

When you write the strategy section of your skate shop business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.

The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.

Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.

For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.

Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.

Your skate shop could face a wide array of risks. For example, there may be a decrease in customer demand, which could lead to lower profitability and revenue. Additionally, the shop may be exposed to theft or vandalism, which could lead to higher security costs or a decrease in inventory. It is important to consider potential risks and develop strategies to mitigate them.

6. The operations section

The operations of your skate shop must be presented in detail in your business plan.

Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.

Next, clearly state your skate shop's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.

The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.

You might have key assets such as a physical store, or an online store, which could be very valuable for your skate shop. Additionally, your intellectual property such as your logo or brand name may be key components of your skate shop, and could help to differentiate you from the competition.

Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a skate shop business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my skate shop's business plan?

There are two main ways of creating your skate shop business plan:

• Using specialized business planning software,
• Hiring a business plan writer.

Using an online business plan software for your skate shop's business plan

Using online business planning software is the most efficient and modern way to create a skate shop business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Need a solid financial forecast?

The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Hiring a business plan writer to write your skate shop's business plan

Outsourcing your skate shop business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your skate shop business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your skate shop's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your skate shop business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your skate shop business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

• Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
• A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
• A business plan has 2 main parts: a financial forecast outlining the funding requirements of your skate shop and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your skate shop business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

• How to write a business plan to secure a bank loan?
• Key steps to write a business plan?
• Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a skate shop? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to Start a Skate Shop

Starting a skate shop can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful skate shop.

Importantly, a critical step in starting a skate shop is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

14 Steps To Start a Skate Shop :

• Choose the Name for Your Skate Shop
• Develop Your Skate Shop Business Plan
• Choose the Legal Structure for Your Skate Shop
• Secure Startup Funding for Your Skate Shop (If Needed)
• Secure a Location for Your Business
• Register Your Skate Shop with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Skate Shop
• Buy or Lease the Right Skate Shop Equipment
• Develop Your Skate Shop Marketing Materials
• Purchase and Setup the Software Needed to Run Your Skate Shop
• Open for Business

1. Choose the Name for Your Skate Shop

The first step to starting a skate shop is to choose your business’ name.  

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your  own skate shop:

• Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
• Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
• Think about marketing . Come up with a name that reflects the desired brand and/or focus of your skate shop.

2. Develop Your Skate Shop Business Plan

One of the most important steps in starting a skate shop is to develop your business plan. The purpose of a business plan is to ensure that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

Your business plan should include the following sections:

• Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your skate shop.
• Company Overview – this section tells the reader about the history of your skate shop and what type of skate shop you operate. For example, are you a pro shop, core shop, or a general skate shop?
• Industry Analysis – here you will document key information about the consulting industry. Conduct market research and document how big the industry is and what trends are affecting it.
• Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing products or services like the ones you will offer?
• Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
• Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
• Product : Determine and document what products/services you will offer 
• Prices : Document the prices of your products/services
• Place : Where will your business be located and how will that location help you increase sales?
• Promotions : What promotional methods will you use to attract a loyal customer base to your skate shop? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
• Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
• Management Team – this section details the background of your company’s management team.
• Financial Plan – finally, the financial plan answers questions including the following:
• What startup costs will you incur?
• How will your skate shop make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your business?

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3. choose the legal structure for your skate shop.

Next you need to choose a legal structure for your skate shop and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the skate shop owner and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the business owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a skate shop together. The partners share in the profits and losses of the business. 

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a skate shop include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a skate shop is that it offers limited liability to its owners. This means that the skate shop owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your skate shop, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

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4. Secure Startup Funding for Your Skate Shop (If Needed)

In developing your skate shop business plan, you might have determined that you need to raise funding to launch your business. 

If so, the main sources of funding for a skate shop to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a skate shop that they believe has high potential for growth.

5. Secure a Location for Your Business

The first step in finding a retail space for your skate shop is to determine the demographics of the area you are targeting. This will help you identify the population size and spending power of the potential customers in that area. You’ll also want to consider the competition in the area and what kind of facilities are already available.

Once you have narrowed down your search to a few locations, it’s important to visit each one and do some research. Check out the surrounding businesses, talk to residents, and get a feel for the neighborhood’s vibe. You’ll also want to make sure the site is large enough to accommodate your shop and that there is easy access to parking and public transportation.

It’s also helpful to talk to existing shop owners in the area. They can give you an inside perspective on what it takes to run a successful business in that neighborhood, which will go a long way toward helping you find the ideal location for your skate shop.

6. Register Your Skate Shop with the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

7. Open a Business Bank Account

It is important to establish a bank account in your own skate shop’s name. This process is fairly simple and involves the following steps:

• Identify and contact the bank you want to use
• Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
• Complete the bank’s application form and provide all relevant information
• Meet with a banker to discuss your business needs and establish a relationship with them

8. Get a Business Credit Card

You should get a business credit card for your skate shop to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

9. Get the Required Business Licenses and Permits

Every state, county, and city has different business license and permit requirements.

Here are some that you should consider:

• General Business License : for the purpose of doing business in your state. 
• Sales Tax License or Seller’s Permit : for selling products.
• Zoning Approval : typically at the city or county level, this provides authorization for construction or use of a building or land for a particular purpose.
• Fire Department Approval : a process by which the local fire department reviews and approves the installation of a fire alarm system.

10. Get Business Insurance for Your Skate Shop

To operate a skate shop, you will need business insurance.

Other business insurance policies you should consider for your skate shop include:

• General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
• Auto insurance : If a vehicle is used in your business, this type of insurance will cover if a vehicle is damaged or stolen.
• Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
• Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
• Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
• Professional liability insurance : This protects your business against claims of professional negligence.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.

11. Buy or Lease the Right Skate Shop Equipment

To run a skate shop, you will need some basic equipment. This includes a cash register, credit card machine, and skateboards. You may also want to invest in shelving and display cases to showcase your merchandise.

12. Develop Your Skate Shop Marketing Materials

Marketing materials will be required to attract and retain customers to your skate shop.

The key marketing materials you will need are as follows:

• Logo : Spend some time developing a good logo for your skate shop. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
• Website : Likewise, a professional skate shop website provides potential customers with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
• Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media platforms will help customers and others find and interact with your skate shop.

13. Purchase and Setup the Software Needed to Run Your Skate Shop

The software you need to run a skate shop is a point of sale (POS) system and a skate inventory management system.  These systems allow you to track everything from sales, inventory, and employees. You’ll also need a customer relationship management (CRM) system to manage your customers. 

14. Open for Business

You are now ready to open your skate shop. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

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How to Start a Skate Shop FAQs

Is it hard to start a skate shop.

It's not hard to start a skate shop, but it takes a lot of work. You'll need to find a space for your shop, stock it with skateboarding gear and supplies, and market your business to attract customers. With a little effort and know-how, you'll be able to get your shop off the ground.

How can I start a skate shop with no experience?

There are a few ways to start a skate shop with no experience. You can look online for resources and speak with other skate shop owners for advice. You may want to look into starting a business with a partner who has experience in the skate industry. Or, you can go into business for yourself and learn as you advance. You may also want to hire experienced people to work in your skate shop.

Starting a business can be difficult, but it can also be rewarding. You have to find the right way that works best for you.

What type of skate shop is most profitable?

There is no definitive answer to this question as it largely depends on the location. However, skateboard shops that sell skateboarding gear and apparel in addition to the skateboards themselves are generally more profitable than those that only sell equipment.

How much does it cost to start a skate shop?

It can cost anywhere from $10,000 to $50,000 to start a local skate shop, depending on the size and location of the shop. Some of the common startup costs include rent, security deposits, inventory and equipment.

What are the ongoing expenses for a skate shop?

There are a few ongoing expenses you should consider when starting a skate shop. The first is the cost of inventory. You'll need to purchase new skateboards, shoes, hats, and other gear to sell in your store. You'll also need to pay for a space to operate your store, and you'll need to invest in marketing and advertising to bring in customers.

Other ongoing expenses for a skate shop can include employee salaries, utilities, and insurance.

How does a skate shop make money?

A skate shop makes money through the sale of skateboarding gear and accessories. They also make money by providing skateboarding lessons and hosting events for the skateboarding community .

Is owning a skate shop profitable?

There are a few reasons owning a skate shop can be profitable. First, the skateboarding industry is growing rapidly. This provides a lot of potential for growth and profitability. Additionally, skateboarding is considered a "lifestyle" sport, and many people are passionate about it. This means that there is a large base of customers who are loyal to skate shops and are willing to spend money on products and services. Finally, skate shops typically have low overhead costs, which can make them more profitable than other types of retail businesses.

Why do skate shops fail?

There are a variety of reasons skate shops fail, but one of the most common is a lack of understanding about what it takes to run a successful business. They also need to be able to provide quality customer service and products, which can be difficult when competing with an online store . Furthermore, rent and other overhead costs can be high in busy urban areas, leading to many small skate shops to fail.

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General Points of the Skateboard Business Plan

JAN.25, 2015

The skateboarding industry is always action-packed and is now experiencing significant growth as children, teenagers, and even adults ride the sidewalks, curbs, streets and skate parks for exercise and fun. Check out the skateboards closely, and there are some incredible deck graphics and a variety of brands with different features and construction styles. Some skateboarders decide to become competitors, adding yet another dimension to the industry because they need custom-designed and built boards that can tackle the ramps with ease.

Rolling Towards Success

All of this adds up to business opportunity. People are opening skateboard shops across the country, usually to cater to local clientele. Though some skateboard shops turn into major enterprises, the vast majority are small to medium sized businesses offering high quality customer service to a niche market. The skateboard store business plan is usually a brick-and-mortar business that fills a gap in services or products currently offered by competitors. The typical business is also involved in a host of activities that promote the business while also keeping the entrepreneur involved in current industry happenings. They include sponsoring local skateboard clubs, events, and competition skaters.

A skateboard shop can start small but still needs reliable inventory suppliers like a large business. Some entrepreneurs start a business that sells custom designed skateboards in addition to branded ones. Whether or not the entrepreneur decides to pursue an angel investor or small business loan to get the business up and running, a professional business plan is needed to map out a plan for ongoing success.

Following are some of the typical points addressed in the skateboard business plan:

• Location – Experienced skateboard ship owners recommend setting up in a location where there is plenty of parking for customers who drive to the business. It is also suggested that the business be located near a skatepark or have a front on a street so that walk-in business can easily access the shop. In other words, choosing the right location is critical because this is a very social business that delivers mostly one-on-one personal service. The skateboard business plan will describe why a particular location was selected. • Shop displays – The interior shop setup has a lot to do with sales. Skateboard decks can be hung on walls, accessories displayed in glass cases, and a TV-with-DVD continuously played that shows skateboarders in action. A work area with good equipment for assembling or building skateboards should be set up also. The shop owner will need to fund the purchase of items out-of-pocket or include the amount in the request submitted to investors. • Inventory – The type of inventory the shop will carry varies. It can include quality skateboards, pro boards, custom boards, skateboard gear and clothing, and accessories. The skateboard business plan can describe the inventory that will be offered to customers, the product pricing, and services pricing. Typically, skateboard shops offer customers the option of buying already-built boards or of choosing their own setup. • Marketing – How will the shop be promoted – online and offline? The shop needs a website and a presence on social media, in addition to being advertised and marketed through promotional events, radio and/or television, and newspaper ads. • Staffing – It is likely the shop will need additional staff beyond the owner. The skateboard business plan will describe the type of staff needed, which may include floor sales people, skateboard assembler, and cashier. Anyone selling and assembling skateboards needs to be knowledgeable.

Serious Business

As is true for business, financial planning is critical to the success of the skateboard business . Financing or investor funding may be needed for startup costs, initial inventory purchases, and a portion of operating expenses until profitability is reached. Startup costs usually include space remodeling, website development, and technology and equipment expenses. Skateboarding may be an entertaining pastime, but a skateboarding business is a serious enterprise.

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How to Start Your Own Skateboard Company? Here’s What To Do

Writen by Charles Harris

Fact checked by Michael Derosier

In the middle of the 1940s, skateboarding was first established in America. It has remained the most preferred outdoor sport as it encompasses aesthetic values, respect for others, and social interactions. Many companies believe that investing in a skate shop will create huge benefits when looking at the number of potential clients.

However, starting a skate company is not simple since it requires the planning, decision-making, and the conduct of a range of legal actions. This post will give you NINE main steps on how to start your own skateboard company and expand your business sales.

• Create a business plan
• Analyze your financial resources
• Select a company name
• Acquire business licenses
• Obtain business insurance
• Choose a location
• Purchase equipment and materials
• Recruit your squad
• Brand and promote your products

Table of Contents

Step 1: Create a business plan

Step 2: analyze your financial resources, step 3: select your company name, step 4: acquire business licenses, step 5: obtain business insurance, step 6: choose a location, step 7: purchase equipment and materials, step 8: recruit your squad, step 9: brand and promote your products, maintain shop website, apply marketing strategies, provide chatting space, collaborate with known brands, nine steps to begin your skateboard business.

If you are a skating lover, investing in a skateboard company is helpful, as you can share skateboarding skills and techniques to your customers. These procedures will assure the appropriate planning, registration, and legal compliance of your startup company.

The cornerstone of any business is your business plan. It’s a plan for how your new firm is structured, operated, and expanded. You will utilize it to persuade everyone that it’s an intelligent decision to work with or invest in your company. You must also carry out market research to build a profitable plan for your skateboard business.

A major aspect in the development of a company strategy is comprehensive market research. It will help you understand your potential customers, industry, competition’s requirements, preferences, and behaviors. The smartest companies have items or services that distinguish them from their competitors.

Many start-ups go bankrupt because they are losing money before they can achieve profit. It’s never a bad move to estimate your financing requirements since it might take some time to generate a sustainable income after your business starts. In other words, you need to figure out how much it costs to start and maintain a skating shop.

In addition, manage your business spending to make sure you stay on target. When beginning a business, don’t invest too much. Understand what kinds of purchases are relevant to your company and avoid overspending money on expensive new facilities that will not assist you in achieving your business objectives.

Your trade name is how your clients will immediately identify you. It will need to represent and express your spirit to differentiate yourself from other rivals. However, you must ensure that others are not using the same business name. Research and carry out a comprehensive online check to see if someone is using that name already.

Before you can run your firm officially, you will have to get numerous business licenses. For instance, your company must register with national, state, and local authorities. You may apply for local business licenses, state income tax records, and sales licenses in your town hall or government finance office. Since your local authorities may ask for commercial planning permission to let you open a store.

Before you publicly begin, it is necessary to purchase the proper insurance for your company. It can be pricey to handle accidents such as damage, robbery, or even buyer lawsuits, so you must be sure that you are well covered.

The majority of small companies may benefit from a few standard insurance policies. The first one is compensation and unemployment insurance for your employees. Secondly, property damage, physical harm, and personal injury insurance may also be necessary. Your agent will inform you about the insurance coverage you require depending on your financial circumstances and the type of your skateboard store.

You must pick a decent location for the skating items you offer. Choose a place where skateboards and equipment can be found easily or create a workplace in your residence. It is cheaper to rent a warehouse or basement when manufacturing and assembling skateboards for resale to other skateboard shops. However, if you are going to sell retail, the local authority will require you to establish a retail shop.

When you have already completed the required procedure, it’s time to set up your skateboard shop. You must ensure that your shop is well-equipped with fundamental skateboard items and accessories, such as helmets, boots, and skates. It’s important to get specific skateboard equipment, components, and supplies from wholesale suppliers to meet customers’ demands.

You will need to recruit and employ a good team to get your firm off the ground. To create a strong squad for your skateboard company, you, as an entrepreneur, must provide your employees with the same commitment as the products.

It is equally vital to determine how the team works effectively. Define roles and responsibilities, divide tasks, offer feedback, or learn how to work with each other. These need to be clear at the beginning to save you from a lot of stress and conflicts afterward.

One piece of advice is to start a skateboard brand online before you officially sell your skateboarding items. This helps you make individuals willing to jump whenever you open actual doors to business. Two easy and affordable options are available below to let people know about your skateboarding store.

Build a unique logo: To begin with, develop a distinctive logo. Make your t-shirts and stickers. The skaters will wear your T-shirt and cover your stickers on their boards, which provides free advertisement for your business.

Organize events: Arranging community events is important within the skate society. It offers the skaters something interesting and inspires them about what you are trying to achieve with your store.

Create a business website: Make your brand online and construct a website for your company, since most clients learn about a company on the internet. It is also an excellent approach to connecting current and prospective clients.

Social network: Social media is free for you to promote information about your new business. You can use it as a marketing platform to offer followers deals and discounts after you start your brand.

Four Strategies to Expand Your Skateboarding Shop

Each sale you make generates income. As your earnings are closely related to sales, you might want to continue giving your consumers a full-service business rather than just basic skateboards. Let’s explore some methods that your company might use to produce the profit you want.

Several small skating retailers are scared of managing a website; nevertheless, an online shop may double your revenues when correctly organized. A good website helps to advertise your brand, business, and task. It’s recommended to hire a team to look after your shop on the internet and update it periodically to offer the greatest user experience for your visitors.

There are times when skateboard sales are highest and lowest. For example, people have extra time for skating on holidays or summer vacation. This time of year offers you an opportunity to improve your revenue.

You may attract more clients to your company by selling low-cost skateboards or giving women skateboards at a discount. If you can offer quality service to your consumers, they will come back to you and recommend others to your skateboarding firm.

Make some room for the skaters to meet and chat in your shop. This shows that you encourage the skateboarding community and create further purchases. Besides, have food and beverages for sale in your shop. Why would they order food elsewhere when they can get it from you?

You constantly have to develop your company to earn profit and stay stable. Although it takes time and effort, you will receive what you put into your business. Working with better-known companies is a wonderful approach to attain success in your sector. Talk to other organizations and request some advertising in return for a sample of free skating items or services.

Even though these ideas help you start and expand your business, there is never a flawless strategy. Assure you are well-prepared for starting a skate company. To successfully operate it, you will also need to adapt to changing conditions.

You probably have learned not only the full procedure of starting a skate store but also several recommendations to promote your business via this post. Did you find this content on how to start your own skateboard company helpful? If yes, please leave a comment and share your opinion with family and friends.

I am Michael, and I have been enjoying this fun sport for seven years. And nothing is better than having a community to share our passion for those thrilling tricks. I am ready to tell you all I know about skateboarding, showing you how to choose a good board and trick to start and how the practice goes. Stay tuned!

Skateboard Shop Business Plan

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Resources On Skateboard Shop

• Financial Model
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model

Marketing Plan

• Bundle Business Plan & Fin Model
• Description

Executive Summary

Products & services, market analysis.

• Management Plan
• Financial Plan

The Skateboard Shop is solving a problem faced by skateboard enthusiasts in Los Angeles - a lack of a one-stop-shop for all their skateboarding needs. Currently, skateboard enthusiasts have to visit multiple stores to find a range of high-quality products and customization services. The Skateboard Shop aims to fill this identifiable need in the market by providing a diverse selection of skateboards, skateboard accessories, and customization services under one roof. Furthermore, there is a lack of regular events and competitions that cater to the local skateboarding community's interests. The Skateboard Shop seeks to fill this void by hosting exciting events and competitions that will keep skateboard enthusiasts engaged and excited about the sport. Overall, our business is dedicated to providing a comprehensive and exceptional experience to skateboard enthusiasts and the local skateboarding community in Los Angeles.

The Skateboard Shop provides a solution to the problem faced by skateboard enthusiasts in the city of Los Angeles – the lack of a one-stop-shop for all their skateboarding needs. Our shop offers a wide range of products and services, including customized skateboards and accessories, under one roof. We also regularly organize events and competitions to keep the local skateboarding community engaged and connected. With our excellent customer service, high-quality products, and exciting events, we provide a unique and unparalleled experience to all our customers, solving the problem faced by skateboard enthusiasts in the city.

Target Market

The Skateboard Shop targets skateboard enthusiasts and the local skateboarding community in Los Angeles. Our products and services aim to cater to those who value high-quality skateboarding equipment and a personalized shopping experience. We seek to connect with customers who are passionate about skateboarding and who are interested in developing their skills and maintaining their love for the sport. Our target market includes both male and female skateboarders of all ages who are interested in participating in events and competitions, observing and learning from expert skateboarders, and networking with fellow enthusiasts. By focusing on this defined customer base, we aim to build a loyal customer base and establish a strong presence in the skateboarding industry in Los Angeles.

Competition

While there are currently several other skateboarding shops in Los Angeles, we believe that none of them can offer the same level of customization, customer service, and engagement with the local skateboarding community as we can. Our ability to provide a one-stop-shop for skateboard enthusiasts and offer regular events and competitions will set us apart from our competitors.

Additionally, there are several online retailers that offer skateboarding products, but we believe that the personalized touch and community involvement we offer cannot be replicated by purely online businesses.

We will continually strive to improve and innovate, ensuring that we remain the top choice for skateboard enthusiasts in Los Angeles.

Financial Summary

Below are the key highlights of the financial plan for the Skateboard Shop:

• The target revenue for the first year of operation is $1,000,000.
• The initial startup costs, including inventory, rent, and staff wages, are estimated to be $500,000.
• We plan to source funding from venture capitalists, angel investors, and business loans.
• The sales of skateboards and accessories, as well as event fees, will be the primary revenue streams.
• The cost structure includes inventory costs, staff wages, and event expenses.
• Our financial plan is designed to ensure profitability and sustainability in the long run.

Funding Requirements

As a startup business, the Skateboard Shop requires a significant amount of funding to cover the initial startup costs. To successfully launch and operate the business, we require the following:

• $500,000 to cover inventory, rental costs, and staff wages
• Funding from venture capitalists, angel investors, and business loans
• Investment in marketing efforts to drive traffic to our physical and online stores

We are confident that with the right amount of funding, the Skateboard Shop can become a major player in the skateboard industry in Los Angeles, connecting with the local skateboarding community through our unique value proposition and commitment to providing top-of-the-line products and services.

Milestones and Traction

The Skateboard Shop has a clear roadmap of milestones we plan to achieve in our first year of operation:

By following this roadmap, we aim to establish ourselves as the premier skateboard shop in Los Angeles and build a strong, loyal customer base. We will track our progress closely and make adjustments as needed to stay on track towards our revenue and growth targets.

Problem Worth Solving

Skateboarding enthusiasts often struggle to find a one-stop-shop that caters to all their skateboarding needs. They can spend countless hours scouring different stores and websites searching for the right skateboard gear and accessories. Moreover, customization options are rarely provided by these stores, forcing skateboarders to settle for generic equipment that may not suit their style or personality.

The Skateboard Shop aims to solve these problems by offering a wide range of customizable skateboards and accessories in one convenient location. Our knowledgeable staff can help customers choose the best options that suit their needs and preferences. We provide a variety of customization options ensuring that every skateboarder can easily express their unique style on their gear, something that has been lacking in the industry.

Additionally, the local skateboarding community is often underserved when it comes to exciting events. With limited opportunities to network with like-minded people and improve their skateboarding skills, they can feel disconnected from the community. The Skateboard Shop seeks to address this by hosting regular events and competitions that bring skateboarders together, creating opportunities to learn, grow, and have fun.

Our Solution

Validation of problem and solution.

Skateboarding has been a popular sport among young people for decades. However, skateboard enthusiasts often struggle to find a one-stop-shop that caters to their needs and provides high-quality, customizable skateboards and accessories. Based on market research and feedback from the local skateboarding community, we have identified this problem and developed a solution in the form of the Skateboard Shop.

Our research shows that there is a demand for customizable skateboards and accessories, as well as a need for regular events and competitions that bring the local skateboarding community together. We have conducted surveys and focus groups with skateboard enthusiasts, and the response has been overwhelmingly positive. Additionally, we have already established partnerships with local skateboarding organizations and influencers, which further validates our solution.

Furthermore, we have run tests on our customized skateboards to ensure that they meet the highest quality standards before being sold to customers. Our tests have shown that our skateboards are durable, lightweight, and flexible, making them ideal for skateboard enthusiasts of all skill levels.

In summation, the Skateboard Shop addresses a real problem in the skateboarding community, and our solution has already been validated through market research, feedback from customers, partnerships, and product testing. We are confident that our business model will be successful and that we will become the go-to destination for skateboard enthusiasts in Los Angeles.

Product Overview

The Skateboard Shop offers a wide range of high-quality skateboarding products and services to skateboard enthusiasts in the city of Los Angeles. Our products include skateboards, skateboard accessories, and other related products that cater to the needs and preferences of our customers. Our customization services allow customers to personalize their skateboards according to their unique tastes and styles.

Our products and services are designed to benefit skateboard enthusiasts who are passionate about skateboarding and want to be a part of the local skateboarding community. Our customized skateboards and accessories offer customers a way to express their individuality and personality through their skateboarding gear. Our regular events and competitions provide an avenue for customers to meet and connect with other skateboard enthusiasts, learn from expert skateboarders, and hone their skills and knowledge of new skateboarding techniques.

At the Skateboard Shop, our mission is to provide our customers with high-quality products and services that cater to their needs and preferences, while also providing a platform for them to connect and engage with the local skateboarding community. Our commitment to customer satisfaction and delivering a personalized experience for our customers is our top priority.

The skateboarding industry in Los Angeles is highly competitive, with several players offering similar products and services. However, the Skateboard Shop aims to stand out, thanks to our unique value proposition. While other skateboarding shops offer standard products, we specialize in the customization of skateboards, allowing customers to create unique designs that reflect their personalities.

We also seek to differentiate ourselves by hosting regular events and competitions that promote community engagement and foster a sense of belonging among skateboard enthusiasts. Our commitment to providing exceptional customer service also sets us apart from our competitors, as we seek to build long-term relationships with our customers, rather than just make sales.

Roadmap - Products & Services

Here is a table outlining the steps taken so far, as well as an outline of future steps we plan to take in establishing and growing our business:

Market Segmentation

Our potential customers are skateboard enthusiasts and the local skateboarding community. We have identified the following segments:

Our total market potential is $30,000.

Target Market Segment Strategy

Our ideal customers are skateboard enthusiasts who are passionate about the skateboarding culture and lifestyle. They value quality products and customization options to match their unique style and preferences. We also aim to target the local skateboarding community, offering a space for them to connect, engage, and participate in events and competitions. By focusing on these segments, we can establish a loyal customer base that will continue to support our business and spread the word through word of mouth.

Key Customers

Our ideal customer archetype is a young skateboard enthusiast who takes their hobby seriously and values high-quality, customizable skateboards and accessories. They are passionate about the skateboarding community and regularly participate in events and competitions. They are also active on social media and have a strong following among fellow skateboarders.

These customers will be the main advocates for our business, spreading the word about our shop and events to their friends and followers. By catering to this customer segment, we aim to establish ourselves as the go-to destination for skateboarders in the local community and beyond.

Future Markets

Competition:.

Below is a table of potential competitors in the skateboard industry:

While there are several competitors in the industry, our focus on custom skateboards and regular events for the local community sets us apart from the larger chain stores. This allows us to connect with our customers on a more personal level and create a loyal following within the community.

Marketing and Sales Plan

Our marketing and advertising strategy will focus on targeting local skateboard enthusiasts and the skateboarding community through a variety of channels. Our goals are to increase brand awareness, drive traffic to our store and events, and ultimately increase sales.

• Costs: Our marketing budget will be allocated towards paid social media advertising, print advertising in local skateboarding magazines, and sponsoring local skateboarding events. We will also have a budget for creating and distributing promotional materials such as flyers and stickers.
• Advertising Channels: Our advertising channels will include social media platforms such as Instagram and Facebook, local skateboarding magazines, and collaborations with local influencers and skateboarding organizations.
• Goals: Our goals are to increase foot traffic to our store and events, increase sales of skateboards and accessories, and establish ourselves as a go-to destination for the local skateboarding community.

Based on market research and analysis, we anticipate a significant demand for our products and services among skateboard enthusiasts in Los Angeles. Our initial capacity will be able to meet this demand, with room for growth in the future.

Our pricing strategy will be competitive, with a focus on providing high-quality products at reasonable prices. We plan to offer promotions and discounts during special events to incentivize customers to make purchases.

We estimate our monthly sales volume to be around 500 skateboard decks, 1000 skateboard accessories, and 50 custom skateboard orders. We anticipate an average revenue of $100 per customer per transaction, bringing our total monthly revenue to $75,000. As we grow our customer base and expand our product offerings, we anticipate steady growth in sales and revenue over time.

Location and Facilities

The Skateboard Shop will be located in the heart of Los Angeles, California, where there is a significant skateboard enthusiast community. We have secured a lease on a 2000 square foot space on Main Street, where we will set up our physical store and also host events and competitions.

The location has high foot traffic and is easily accessible, making it a convenient destination for customers and participants in our events. We have factored in the costs of rent, utilities, and other operational expenses in our financial plan and are prepared to manage these costs effectively.

The physical store will be designed to create a vibrant and welcoming atmosphere for customers. We will invest in attractive displays and designs for our products, creating a warm, friendly space that will appeal to skateboard enthusiasts of all ages. In addition to our physical store, we have a robust online store that will be easily accessible to our customers.

Equipment and Tools

Our skateboard shop requires a range of equipment and tools to provide customized skateboards and accessories to our customers. Here is an outline of the required equipment and tools and their associated costs:

While some of our equipment is a one-time purchase, others require regular maintenance and replacement to ensure we are delivering the best possible products to our customers.

Management and Organization

Organizational structure.

The Skateboard Shop has a flat organizational structure with clear roles and responsibilities for each employee. The structure is outlined below:

Communication flows directly from the Owner/Manager to the rest of the team, with regular team meetings and one-on-one feedback sessions to ensure smooth operations and continuous improvement of the business.

Management Team

At our skateboard shop, we anticipate taking on a highly skilled and dedicated management team to ensure the success of our business. Our potential candidates for high-level management roles include experienced retail managers, customer service experts, and individuals with a passion for skateboarding. We believe that having a diverse team with a range of skills and perspectives will enhance our ability to provide exceptional service to our customers and build a strong relationship with the local skateboarding community.

Management Team Gaps

Currently, the management team for the Skateboard Shop business consists of experienced and knowledgeable individuals. However, there may be gaps in the team where additional expertise or candidates may be needed to fill certain roles. These may include marketing and social media specialists, event planners, and graphic designers to provide unique and creative skateboard designs. These positions will be filled as the need arises, and the hiring process will be conducted with great care to find the best fit for the team.

Management and Organization: Personnel Plan

Running a successful skateboard shop requires a team of skilled and dedicated individuals. The following is a table of potential positions and the corresponding responsibilities:

We believe that having a well-trained team will be critical to our success, and we plan to invest in ongoing training and education for our staff members.

Company History and Ownership

The Skateboard Shop was established in 2023 with the primary aim of satisfying the needs of skateboard enthusiasts in Los Angeles, California. The business is owned by a group of passionate skateboarders who have been involved in the skateboarding community for years. With their extensive knowledge and experience, they seek to provide exceptional customer service and create a strong connection with the local skateboarding community.

As the business grows, the owners plan to bring in experienced professionals in the skateboarding industry to strengthen the business's operations and expand its reach. The company is committed to providing the best possible experience to its customers, and the owners are dedicated to ensuring that the Skateboard Shop remains a dominant force in the skateboarding industry in Los Angeles.

Our management team has developed a detailed roadmap to help us achieve our business goals effectively. The following table outlines our key milestones:

Key Metrics

To gauge the overall performance and health of our skateboard shop business, we will be monitoring several key performance indicators (KPIs). These include sales revenue, inventory turnover rate, customer satisfaction ratings, and event attendance. By tracking these metrics and analyzing the data, we will be able to determine areas for improvement and make informed decisions to ensure the continued success of our business.

Financial Plan and Metrics

Sales forecast.

Below is the Skateboard Shop's projected sales for the next three years:

This table shows our expected revenue streams, broken down by product categories and year. As we expand and attract more customers, we expect to see steady growth in all three categories. Our goal is to reach a revenue target of $1,000,000 in the first year of operation, and we are confident that our sales forecast will help us achieve this target.

Starting a skateboard shop requires a considerable amount of investment. The following table shows the expected startup costs:

The operational expenses of the skateboard shop include staffing, inventory maintenance, and hosting events and competitions. The following table shows the expected monthly operational expenses:

Projected Profit and Loss

Our financial goal is to reach a revenue target of $1,000,000 in the first year of operation. Here's a three-year profit and loss statement for the Skateboard Shop:

As you can see, we expect to make a profit of $200,000 in our first year and increase it to $280,000 by our third year of operation. We believe our strong marketing strategy and commitment to providing excellent customer service will help us achieve these financial goals.

Projected Cash Flow

Built on the revenue target of $1,000,000 in the first year of operation, we project the following cash flow for the Skateboard Shop for the next three years:

We anticipate that our sales will steadily increase every year, as our marketing strategy becomes more effective in reaching our target audience. We will ensure that our expenses are kept to a minimum while still providing top-quality products and services to our customers.

Projected Balance Sheet

Our projected balance sheet shows a steady increase in assets, liabilities, and equity over the next three years. We anticipate an initial investment of $50,000 to cover start-up costs and inventory, with a plan to grow our assets through continued sales and customization services. Our liabilities are expected to increase as we take on additional inventory and expand our event offerings, but we expect to maintain positive equity through steady revenue streams and careful cost management.

Personnel Plan

Our skateboard shop will require skilled and knowledgeable staff who are passionate about skateboarding and can offer expert advice to customers. We plan to hire a store manager, two sales associates, and a skateboard customization specialist. The manager will oversee the daily operations of the store, manage inventory, and plan events. The sales associates will assist customers with purchases and offer product recommendations. The skateboard customization specialist will work with customers to create custom skateboards.

Compensation for employees will be competitive and based on experience and expertise. We plan to offer health benefits and vacation time to full-time employees. To ensure employees are fully integrated into our business operations, they will be trained on all facets of our store, including event planning, skateboard customization, and inventory management.

Use of Funds

Below is an explanation of how the $500,000 funds will be used:

The funds will be used to cover the initial startup costs of the Skateboard Shop, including the purchase of inventory, rent for the physical store and event space, staff wages, marketing and advertising, and event expenses. The aim is to ensure that the skateboard shop is adequately stocked with high-quality products, has a strong marketing strategy to drive traffic to the store, and can host exciting events and competitions to engage with the local skateboarding community.

Exit Strategy

Our eventual exit strategy for the skateboard shop will depend on various factors such as business growth, personal goals, and market trends. We may consider acquisition, selling the business to an interested party, or passing it on to a family member or employee. However, our primary focus at present is on growing and expanding the business by offering exceptional customer service and innovative skateboard products and services.

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Skateboard Shop Business Plan and SWOT Analysis

Skateboard Shop Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Skateboard Shop Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Skateboard Shop business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be available for download after your purchase.

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• Bank/Investor Ready!
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• Business Plan (26 to 30 pages)
• Loan Amortization and ROI Tools
• Three SWOT Analysis Templates
• Easy to Use Instructions
• All Documents Delivered in Word, Excel, and PDF Format
• Meets SBA Requirements

Skateboarding has been one of the most popular sports among young people within the United States for many decades. In fact, over the past 30 years the sport has exploded in popularity. There are now numerous professional skateboarders that have household names. As such, and as was all young children enjoy skateboarding – skateboard shops are typically able to always produce a strong amount of revenue even during times of economic recession. While the initial cost of a skateboard can be somewhat expensive – ranging anywhere from $50 to $250 – there is ongoing need for accessories relating to the sport. Overall, skateboarding is considered to be low-cost. The startup cost associated with the new skateboarding shop typically range anywhere from $75,000 to $200,000 depending on the location in which the business is going to be located.

The gross margins generated from revenues typically are about 40% to 80% depending on the specific type of product that is being sold. Most skateboard shops maintain expansive inventories given that there is a diverse selection of brand-name manufacturers that provide these products to the general public. Almost all skateboard shops also maintain a concurrent online presence in order to make sales from outside of the retail store.

A skateboard shop SWOT analysis should be produced as well in order to understand the strengths, weaknesses, opportunities, and threats faced by these businesses. As it relates to strengths, skateboard shops usually are able to provide these low-cost forms of sporting goods to the general public in almost every economic climate. The gross margins are considered to be moderately high and the barriers to entry are considered to be moderate as well. In most markets there are only a handful skateboard shops.

As it relates to weaknesses, owning and operating a retail store always has its complexities given the fixed ongoing expenses associated with the business. As such, careful detail to the company’s marketing plan needs to be implemented so that sales can occur on a highly predictable basis.

As it relates opportunities, most skateboard shops do engage in a broad-based marketing campaign in order to draw potential customers. Sponsorship of little leagues and other sporting events that have teenaged audiences are frequently done in order to drive sales. A presence on the Internet within e-commerce space website is absolutely necessary for these businesses.

For threats, only a major economic recession will impact the way that these businesses conduct their operations. As stated above, competition among skateboard shops in markets is usually pretty modest.

A skateboard shop business plan should be developed if the owner is seeking a working capital line of credit or business loan in order to launch operations. This business plan should feature a three year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. There are currently about 2,300 companies that own or operate one or more retail stores that specifically sell skateboards as well as related accessories. Each year these businesses generate about $2 billion in revenue. As with all business planning documents a full demographic analysis is included as well so that the individual can understand the characteristics of the target market. This includes taking look at populations size, population density, annual median household income, percentage of population is under 18, and the percentage of people that frequently will purchase a skateboard. A competitive analysis should be included as well.

A skateboard shop marketing plan is and was always developed given the fact of this is a business that requires a significant amount of advertising in order to drive traffic to a retail store. For most, and as discussed above – most skateboard shops will sponsor events as well as sporting clubs that are geared specifically towards people between the ages of 7 to 18. These events can easily create a substantial amount of brand-name visibility for the location on an ongoing basis. A presence on the Internet is also very important and most skateboard shops do you own and operate an e-commerce base website so that sales can be made from anywhere in the world. Most skateboard shops also maintain profiles and third-party selling platforms including Amazon, eBay, Walmart.com, and related platforms.

As many young people now use social media platforms like FaceBook and Twitter, it is also extremely important that the skateboard shop maintain profiles on these platforms as well. This can provide individuals with the ability to showcase in demand inventory especially during the upcoming holiday seasons. These social media pages can be targeted to both younger people as well as adults that are into skateboarding. One of the nice things about maintaining a presence on social media, once a number of followers are received, is that slow to move inventories can easily be showcased to potential buyers. Many e-commerce functions are now applicable to social media platforms.

Skateboard shops will continue to be one of the mainstay small businesses as relates to the overall sporting goods industry. Many customers want to go into stores and actually see the skateboard that they’re going to purchase rather than making these sales online. As such, skateboard shops can be strong businesses for an individual it knows had own and operate a retail business. These businesses can be highly lucrative if the owner establishes ongoing relationships with youth clubs.

Skateboard Shop Business Plan

The Skateboard Shop business plan template is a comprehensive document that you can use for raising capital from a bank or an investor. This document has fully automated 3 year financials, complete industry research, and a fully automated table of contents. The template also features full documentation that will help you through the business planning process. You can see a full sample of a BizPlanDB.com template on the Samples page.

Product Specifications:

• 3 Year Automated Financial Model in MS Excel
• Complete Industry Research Specifc to the Skateboard Shop Industry
• Bank/Investor Ready
• Meets SBA Requirements
• Automated Table of Contents
• Delivered in MS Word and Excel Format with Easy to Follow Instructions
• Loan Amortization and ROI Tools
• FREE PowerPoint Presentation for Banks, Investors, or Grant Companies!
• Updated for 2018!

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Skateboard Shop Business Plan

• Description
• Executive Summary
• Products & Services
• Market Analysis
• Marketing Plan
• Management Plan

Financial Plan

What you get in business plan package, i.- executive summary.

The skateboard industry has been growing steadily over the past few years, with an increasing number of enthusiasts and professionals participating in the sport. However, despite the growing demand for quality skateboard products and services, many skateboard shops fail to provide an excellent customer experience or a sense of community. Board Haven aims to solve this problem by offering high-quality skateboard products and services in a safe and welcoming environment that fosters a sense of community among skateboard enthusiasts. Our identifiable need in the market is to create a skateboard shop that offers a unique brand identity while focusing on customer satisfaction and expert advice, filling the gap in the skateboard marketplace for a reliable and trustworthy skateboard shop.

Board Haven will solve the problem of skateboard enthusiasts struggling to find a one-stop-shop for high-quality products and services. Our skateboard shop will offer a wide range of skateboards and accessories, as well as customizable designs to cater to the customers' preferences. Furthermore, we will provide expert advice and recommendations to ensure customers get the best skateboarding experience. With skilled staff and excellent customer service, Board Haven aims to become the go-to destination for skateboard enthusiasts in Portland.

Target Market

Board Haven aims to target a defined customer base consisting of young and active skateboard enthusiasts who are passionate about skateboarding culture and seek high-quality products and services. Our primary target audience will be individuals aged between 14 and 25, who make up a significant portion of the skateboarding community and have disposable income to spend on their hobby.

In addition, we will also target parents and adults who are purchasing skateboards and accessories for their children or as gifts for their loved ones. With a strong emphasis on community building and customer satisfaction, we will ensure that our target market feels welcomed and valued in our store.

Furthermore, we will also target tourists who visit Portland to experience its outdoor activities and culture. With its vibrant skateboarding scene, Portland attracts a large number of tourists who are interested in skateboarding and would be interested in purchasing skateboards and accessories from Board Haven.

Competition

The skateboard industry is highly competitive, with several established players catering to the diverse needs of skateboard enthusiasts. Board Haven will be competing against both brick-and-mortar and online stores that offer similar products and services. Alternative options for customers include large chain stores like Zumiez and local skateboard shops like Cal Skate in Portland.

However, Board Haven aims to differentiate itself from competitors by focusing on community building and delivering personalized customer service. We will also offer a wider variety of skateboard products and accessories, including customizable boards, to cater to the specific needs and preferences of each customer. Moreover, by establishing a strong online presence and utilizing effective marketing strategies, Board Haven hopes to attract a loyal customer base and establish itself as a leading player in the market.

Financial Summary

Key highlights of the financial plan that covers costs, sales, and profitability:

• Projected startup costs of $300,000, including store build-out, inventory, equipment, and marketing expenses.
• Anticipated sales of $500,000 in the first year, with a growth rate of 15% over the next five years.
• Gross profit margin of 60%, with a net profit margin of 12% by year five.
• Monthly rent and utilities expenses of $5,000 in the first year, increasing to $6,000 by year five.
• Cost of goods sold (COGS) of 40%, consisting of inventory and labor costs.
• Marketing expenses of $10,000 per year, with a focus on social media, events, and community outreach.
• Projected return on investment of 25% by year three, with a break-even point of 18 months.

Overall, the financial plan for Board Haven is focused on achieving sustainable growth while maintaining profitability and maximizing returns for investors.

Funding Requirements

Board Haven will require a total investment of $500,000 to successfully launch the skateboard shop startup in Portland, Oregon. The funding will be used for the following:

• Lease of a commercial property in a prime location: $150,000
• Store build-out and construction: $50,000
• Inventory purchase: $200,000
• Marketing and advertising costs: $50,000
• Operating expenses for the first six months: $50,000

The funding requirements will be presented to investors through a well-crafted business plan, which lays out the goals, strategies, and financial projections of Board Haven. The plan will demonstrate the potential for high returns on investment and the company's commitment to delivering excellent customer service and building community among skateboard enthusiasts.

Milestones and Traction

Ii.- products & services.

One of the biggest pain points for skateboard enthusiasts is the lack of availability of quality skateboarding products and accessories in one place. Most skateboarders have to visit multiple shops to purchase specific products, leading to wastage of time and effort. Moreover, many skateboarders struggle with finding a trustworthy and experienced technician for skateboard repair and maintenance tasks, which can hamper their overall skateboarding experience. Board Haven aims to solve these pain points by providing a one-stop shop for high-quality skateboarding products and accessories with expert advice and services.

Solution: Products & Services

Validation of problem and solution.

Recent studies have shown that the demand for skateboarding products has been on the rise, with the global skateboard market expected to reach $4.23 billion by 2027. Additionally, Portland, Oregon, is known for its thriving skateboarding community and attracts a significant number of skateboarders and enthusiasts from across the world.

Through market research and customer surveys, we have also identified that there is a lack of specialized and authentic skateboard shops in the area. Many skateboarders have to settle for generic sporting goods stores, which do not cater to their specific needs and preferences. Board Haven aims to address this gap in the market by providing a wide range of high-quality skateboarding products and services in a safe and welcoming environment.

We have also conducted a beta testing phase by providing our products and services to a selected group of skateboarders in the area. The feedback we received was overwhelmingly positive, with customers appreciating our attention to detail, personalized services, and expert advice. This validation of our idea has led us to believe that Board Haven has a viable and profitable business model in the skateboarding industry.

Product Overview

Board Haven offers a wide range of high-quality skateboards and accessories that cater to skateboard enthusiasts of all levels. Our collection includes longboards, cruisers, downhill boards, and electric skateboards, sourced from trusted and reputable brands. We also provide customizable board options to appeal to customers who want to personalize their skateboarding experience.

Along with skateboards, we stock a variety of skateboard accessories, including trucks, wheels, bearings, grip tapes, helmets, and protective gear. Our skilled staff can offer expert advice and recommendations to customers regarding the right skateboard and accessories that meet their specific needs and style preferences.

For customers who require skateboard maintenance and repair services, Board Haven is here to help. We have a team of qualified technicians who can repair scratches, replace bearings, adjust trucks, and fix any other skateboarding-related issues. With Board Haven, customers can enjoy hassle-free and reliable skateboard services that help them focus on their skateboarding passion.

Board Haven's goal is to provide customers with a comprehensive skateboard shopping and servicing experience that prioritizes quality, customization, and community-building. We strive to exceed our customers' expectations while delivering exceptional value and service.

Roadmap: Products & Services

Here is a brief outline of the steps taken so far, along with the plan for establishing and growing our skateboard shop business:

• Step 1: Conduct market research to understand the needs and preferences of skateboard enthusiasts and identify gaps in the market that Board Haven can address.
• Step 2: Develop a unique brand identity that reflects the company's commitment to community building and customer satisfaction, with a focus on creating a safe and welcoming environment for skateboarders of all levels.
• Step 3: Choose a strategic location for the first store that will cater to a broad audience of skateboard enthusiasts, starting with the city of Portland, Oregon.
• Step 4: Source high-quality skateboards and skateboard accessories from reputable manufacturers and wholesalers, with a focus on providing top-tier products at competitive prices.
• Step 5: Build partnerships with other businesses and organizations in the skateboarding community to promote Board Haven, increase brand awareness, and drive traffic to the store.
• Step 6: Provide excellent customer service and prioritize customer satisfaction, with skilled staff who can offer expert advice and recommendations to customers.
• Step 7: Offer customizable skateboard designs and maintenance/repair services to differentiate Board Haven from competitors and build loyal customer relationships.
• Step 8: Continuously evaluate and adjust the business strategy to ensure long-term success and growth, including expanding to new locations and product lines as appropriate.

By following this roadmap, Board Haven will establish itself as a leading skateboard shop in the Portland area and beyond, catering to a diverse group of skateboard enthusiasts while building a loyal and engaged customer base.

III.- Market Analysis

Market segmentation.

Understanding the market is essential to target potential customers and create effective marketing strategies. Board Haven will segment the skateboarding market based on various characteristics, including age, gender, income, and skateboarding experience. Potential customer groups are as follows:

By catering to these distinct customer groups, Board Haven will create tailored marketing campaigns and product offerings to establish a robust customer base and increase sales revenue.

Target market segment strategy

Our ideal customer is a young adult, aged 15-25, who is passionate about skateboarding and the culture that surrounds it. They are likely to be students, artists, or freelancers who value creativity and self-expression. This demographic is also more likely to have disposable income and be willing to spend it on high-quality skateboarding equipment and apparel. By catering to this specific market segment, we can create a loyal customer base that will keep coming back to our shop for all their skateboarding needs.

Key Customers

Our ideal customer archetype is a teenage or young adult skateboarder who is passionate about the sport and values high-quality equipment. They are active on social media, particularly Instagram, and are always on the lookout for new gear to improve their performance. This customer is not only a loyal advocate for our business but also has the potential to attract new customers through their social networks. Additionally, parents of younger skateboarders who prioritize safety and value for money will also be an important customer segment for our business.

Future Markets

Based on the market analysis conducted above, there is a significant demand for skateboards among the younger population, particularly teenagers and young adults. With a focus on unique and high-quality products, our business strategy aligns well with the preferences of the target market. In addition, our aim to offer personalized customer service and a welcoming store environment is likely to attract a loyal customer base.

Board Haven will face competition from other skateboard shops in the Portland area. The following table shows some potential competitors:

While the competition is strong, Board Haven believes that its unique brand identity, high-quality products and customer service will set it apart from competitors, attracting a loyal customer base in the long-term.

IV.- Marketing and Sales Plan

Marketing plan:.

Our sales plan is based on a thorough analysis of the market conditions, our capacity, pricing strategy, and other factors that affect the sales outcome. We anticipate sales to be at least 50 skateboards per week, with an average price point of $100. This would generate $5,000 per week, or $260,000 annually. We believe that our combination of quality products, excellent customer service, and competitive pricing will help us achieve and surpass these targets.

Location and Facilities

Our skateboard shop prides itself on utilizing the latest technology to enhance the customer experience. We have implemented a cutting-edge inventory management system that allows us to track the availability of products in real-time. This means that customers can trust that what they see on our website or in-store is accurate and up-to-date.

In addition, we have developed a mobile app that provides customers with personalized recommendations based on their skate style, skill level, and previous purchases. This app also allows customers to browse our inventory, place orders, and track their shipment status with ease.

We believe that the use of technology is crucial in differentiating ourselves from our competitors and providing our customers with the best possible experience. As such, we are constantly exploring new ways to incorporate technology into our business operations.

Equipment and Tools

Below is an outline of the required equipment and tools for the skateboard shop:

The total cost to purchase the required equipment and tools is $4,350. Renting is an option for the POS system, shelving units, and display cases but may result in higher long-term costs.

V.- Management and Organization

Organizational structure.

Here is an overview of the structure of our skateboard shop:

Through this structure, we aim to ensure clear communication, efficient decision-making, and effective day-to-day operations.

Management Team

As the skateboard shop grows, we anticipate taking on high-level management roles within our company. Below is a table of potential candidates we have in mind:

We will seek out candidates with a passion for skateboarding, retail experience, and a track record of successful management. Our goal is to build a strong and dedicated team that can drive the success of the business forward.

Management team gaps

At this stage, we do not have any candidates ready to fill the following positions:

• Marketing Manager
• Financial Advisor

We will be actively searching for individuals with experience in these areas to fill these roles in the near future.

Personnel Plan

For the effective operation of our skateboard shop, we foresee the need for the following positions:

Company History and Ownership

Board Haven is a new startup founded by a group of skateboard enthusiasts who have been involved in the industry for over a decade. The founders have a deep passion for skateboarding and understand the needs and preferences of its customers. They have accumulated extensive knowledge and experience in the skateboarding industry by working in various positions, including marketing, sales, and product development, for established skateboard companies.

After many years of working in the industry, the founders decided to start their own skateboard shop, which would reflect their values and vision for the community. They recognized the need for a skateboard shop that not only provides top-quality products but also creates a welcoming environment where skateboard enthusiasts can socialize, share their experiences, and support each other.

Board Haven is a privately-owned business, with the founders owning 100% of the company's shares. They plan to expand the business by opening new stores in different cities, but they intend to keep the ownership structure the same. The founders believe that maintaining full control of the company's operations is crucial to maintaining their core values and ensuring the success of the business in the long run.

As part of our management and organizational strategy, we have developed a detailed roadmap in a table format that outlines specific goals and objectives we plan to achieve. These milestones include:

• Securing a storefront location by the end of the month
• Ordering inventory and equipment within the first two weeks of opening
• Having at least 50% of inventory sold within the first three months
• Hiring a part-time sales associate within the first six months
• Expanding our product line to include longboards within the first year
• Increasing our customer base by at least 25% in the second year of operations
• Hosting a skateboarding competition in partnership with a local non-profit in the third year

By achieving these specific goals and objectives, we will be able to effectively manage and steer our business towards success.

Key Metrics

It is essential to track your business's Key Performance Indicators (KPIs) to monitor your business's overall performance and health. Following are a few KPIs that can help you track and analyze your skateboard shop's performance:

• Sales per day/week/month
• Average transaction value
• Customer conversion rate
• Inventory turnover rate
• Customer satisfaction score

Regularly analyzing these metrics will help you make informed decisions to improve your business's performance and ensure its success.

VI.- Financial Plan and Metrics

Sales forecast.

Based on market research and industry trends, we have prepared a sales forecast for the next three years.

We are confident in our ability to achieve these projected sales figures by implementing effective marketing strategies, offering quality products and services, and building strong relationships with our customers.

Skateboard Shop Financial Plan Key Inputs

Starting any business involves expenses, some expected and some unforeseen. As a skateboard shop owner, you need to have a clear understanding of the costs necessary to start and operate your business.

Firstly, let's look at the startup costs:

Alongside the startup costs, it's also vital to consider the operational expenses required to keep your skateboard shop up and running. The table below provides an overview of these costs:

By understanding these costs, you can create an accurate financial plan and make informed decisions as you move forward with your skateboard shop business.

The financial plan is a crucial component of the skateboard shop business plan. In this section, you will present the three main financial documents of any startup: the income statement, the cash flow statement, and the balance sheet.

The income statement outlines the revenue and expenses of the business and shows whether it is profitable or not. The cash flow statement tracks the movement of cash in and out of the business, including cash flow from operations, financing, and investing activities. The balance sheet provides a snapshot of the business's financial position at a specific point in time, including its assets, liabilities, and equity.

It is essential to have a solid financial plan to attract investors and secure funding. The financial plan will also provide you with a clear understanding of your business's financial health, allowing you to make strategic decisions and adjust your operations accordingly.

Skateboard Shop Financial Plan Profit & Loss Statement

Skateboard Shop Financial Plan Cash Flow Statement

Skateboard Shop Financial Plan Balance Sheet Statement

The skateboard shop will initially hire a store manager, sales associate, and part-time skate instructor. The store manager will oversee store operations, manage employees, handle finances, and ensure customer satisfaction.

The sales associate will provide customer service, process transactions, and manage inventory. The part-time skate instructor will offer lessons and promote the store's services.

Compensation for employees will be competitive and based on experience and performance. Staff will work in shifts to ensure the store is always attended and efficient.

The employees will play an integral role in the success of the skateboard shop, and their skills and dedication will ensure smooth business operations.

Capital Requirements and Use of Funds

The capital requirements for our skateboard shop business plan must be carefully determined to reflect how much funding we need to raise and how we will use that money effectively to grow our business. This information is critical to share with investors or lenders who will be considering investing in the venture.

The use of funds should be clearly explained, outlining how much we need from investors for specific aspects of the business, such as purchasing inventory, renovating the store, hiring staff, and marketing expenses. Clear communication on how the funds will be utilized will help attract potential investors and reassure them that their investments are in good hands.

Exit Strategy

As part of our long-term financial plan, we have developed an exit strategy that can be implemented in the future. We are open to the possibility of acquisition, selling the business, or passing it along to a family member or employee who is qualified and interested in continuing the legacy of our skateboard shop. This will ensure the continued success of the business, even after our involvement is complete.

Customer Reviews

How to Make a Custom Skateboard:A Complete Guide in 2024

U nlock the secrets to creating your dream skateboard this year. From choosing the perfect deck to selecting wheels that offer the right grip and glide, our complete guide demystifies the process, making your custom skateboard journey smooth and fulfilling. Dive in to turn your vision into reality, effortlessly.

*This post may contain affiliate links and I’ll earn a commission if you shop through them. You can read my full disclosure here .

What Is a Custom Skateboard?

In the realm of personalization and unique branding, a custom skateboard stands out as a canvas for creativity and self-expression. Tailor-made to fit individual specifications, these skateboards offer an unparalleled opportunity to merge function with artistry.

Creating a custom skateboard involves selecting specific components—deck, trucks, wheels, and bearings—to suit one's skating style, combined with the application of unique graphics or designs that resonate with the rider or the brand's ethos.

For those looking to venture into the niche market of custom skateboards, the appeal lies in crafting a product that stands out in a sea of sameness, offering not only a bespoke riding experience but also a potent tool for visual expression.

What You Need to Build Your Own Custom Skateboard？

Venturing into the creation of a custom skateboard , you'll embark on a journey that blends craftsmanship with personal branding.

First, selecting a high-quality deck is paramount; it's the foundation upon which your design and functionality hinge.

Next, trucks and wheels need careful consideration, as they dramatically influence the board's handling and feel. Moreover, grip tape and bearings play crucial roles in safety and performance.

For artists and brands, the deck's underside presents a prime canvas for showcasing creative designs or logos, making each skateboard a moving piece of art and a marketing tool. This approach not only caters to the aesthetics but also ensures that the skateboard stands out in performance and style.

How to Make a Custom Skateboard?

Crafting a custom skateboard combines creativity with functionality, offering a personalized touch to this popular sport. Whether for personal use or as part of a business venture, understanding the steps involved is crucial.

Selecting Your Deck

Creating a custom skateboard starts with selecting the perfect deck, a step that intertwines personal preference with technical specifications.

The choice of deck size, shape, and material directly influences your skating experience, blending functionality with your unique style. This foundational piece not only serves as the literal platform for your skateboarding adventures but also as a canvas for artistic expression.

Each deck choice reflects a part of your identity or brand, making this step critical in the custom skateboard creation process.

Choosing Trucks and Wheels

Choosing the right trucks and wheels is crucial for your custom skateboard's performance and aesthetic appeal. Trucks must match the deck width for optimal control and stability, while wheel choice depends on skating style and surface.

Smaller, harder wheels are best for street skating, offering more control for tricks. Larger, softer wheels provide a smoother ride on rough surfaces.

This selection process allows skateboarders to fine-tune their board's responsiveness and maneuverability, ensuring a ride that's as unique as the design on the deck itself. This step emphasizes the importance of customization in enhancing the skating experience, catering to diverse preferences within the skating community.

Applying Grip Tape

Applying grip tape to a custom skateboard is more than just an aesthetic touch; it's about ensuring safety and performance. Precision in this step is key.

Start by aligning the grip tape with the deck, pressing down from the center outwards to avoid air bubbles. Using a sharp blade, trim the excess tape along the edge of the deck for a clean finish. The texture of the grip tape provides traction, essential for control during tricks and rides. This meticulous process not only showcases the creator's attention to detail but also enhances the board's functionality.

Customizing Design

Customizing the design of a skateboard is a vital step that allows individuals or brands to infuse personal or marketing narratives into the product. This stage involves choosing colors, patterns, and imagery that resonate with the creator's vision or brand identity.

Incorporating advanced digital printing techniques can bring intricate designs to life, offering a vibrant and durable finish that withstands the wear and tear of skateboarding. This process not only personalizes the skateboard but also turns it into a mobile artwork or a promotional tool, reflecting the unique style or message of its creator.

Assembling Components

Assembling the components of a custom skateboard involves attaching trucks to the deck, placing bearings inside the wheels, and then attaching the wheels to the trucks. This step is critical as it ensures the skateboard is rideable and safe. Precision and attention to detail are key to ensuring that all parts are securely fastened and aligned correctly for optimal performance and durability of the skateboard.

This process not only produces a functional skateboard but also a unique piece that resonates with the creator's identity or brand values, appealing to a wide audience including entrepreneurs, designers, and influencers.

Good Websites to Make Custom Skateboards

When embarking on the journey to create a custom skateboard, finding the right platform can make all the difference. These sites cater to a diverse clientele, including entrepreneurs, designers, and brands, providing a seamless interface for crafting a unique skateboard that stands out.

With user-friendly design tools, comprehensive product options, and helpful customer service, these platforms ensure that your vision for a custom skateboard becomes a reality, offering a blend of quality, creativity, and functionality.

Supplier for Custom Skateboards

For entrepreneurs and designers venturing into the realm of custom skateboards, selecting the right suppliers is crucial. PrintKK is known for its quality and variety, offering an extensive range of customization options for decks, wheels, and graphics. This supplier stands out for its commitment to both innovation and customer satisfaction, making it a go-to choice for those looking to create unique, high-quality skateboards.

How to Price a Custom Skateboard?

Pricing a custom skateboard involves considering the cost of materials, customization, labor, and brand value. Start with the base cost of materials like decks, trucks, and wheels. Add costs for custom designs and graphics, which can vary based on complexity. Labor costs for assembly should also be factored in. Finally, consider the brand value and market positioning to set a competitive yet profitable price. Pricing strategies may vary depending on target markets and distribution channels.

Creating a custom skateboard is a journey that blends creativity, technical skill, and personal expression. It offers entrepreneurs, designers, and skateboarding enthusiasts a unique opportunity to bring their vision to life, whether for personal use or as a distinct product in the market.

This process not only enriches the skateboarding community with unique designs but also empowers individuals and businesses to tell their stories through these custom creations. For those embarking on this creative venture, the journey from concept to completion is filled with possibilities, limited only by imagination.

Can I make a custom skateboard?

Absolutely! Making a custom skateboard is entirely possible. With the right tools, materials, and a bit of creativity, you can design and assemble a skateboard that reflects your unique style and preferences.

How to make a custom skateboard?

Creating a custom skateboard involves selecting the individual components, such as the deck, trucks, wheels, and bearings, that best suit your preferences and riding style.

Is it cheaper to build my own custom skateboard?

Building your own custom skateboard can be cheaper than buying a pre-made one, especially if you have access to the necessary tools and materials.

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The post How to Make a Custom Skateboard:A Complete Guide in 2024 was written by Mary Beth Sharkey and first appeared on The How-To Home - Easy Recipes, Cleaning Tips and Tricks, and Simple DIYs

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J. V. Stalin

The Tasks of Business Executives

Speech delivered at the first all-union conference of leading personnel of socialist industry 1 february 4, 1931.

Source : Works, Vol. 13, 1930 - January 1934 Publisher : Foreign Languages Publishing House, Moscow, 1954 Transcription/HTML Markup : Salil Sen for MIA, 2008 Public Domain : Marxists Internet Archive (2008). You may freely copy, distribute, display and perform this work; as well as make derivative and commercial works. Please credit "Marxists Internet Archive" as your source.

Comrades, the deliberations of your conference are drawing to a close. You are now about to adopt resolutions. I have no doubt that they will be adopted unanimously. In these resolutions — I am somewhat familiar with them — you approve the control figures of industry for 1931 and pledge yourselves to fulfil them.

A Bolshevik's word is his bond. Bolsheviks are in the habit of fulfilling promises made by them. But what does the pledge to fulfil the control figures for 1931 mean? It means ensuring a total increase of industrial output by 45 per cent. And that is a very big task. More than that. Such a pledge means that you not only pledge yourselves to fulfil our five-year plan in four years — that matter has already been settled, and no more resolutions on it are needed — it means that you promise to fulfil it in three years in all the basic, decisive branches of industry.

It is good that the conference gives a promise to fulfil the plan for 1931, to fulfil the five-year plan in three years. But we have been taught by "bitter experience." We know that promises are not always kept. In the beginning of 1930, too, a promise was given to fulfil the plan for the year. At that time it was necessary to increase the output of our industries by 31 to 32 per cent. But that promise was not kept to the full. Actually, the increase in industrial output during 1930 amounted to 25 per cent. We must ask: Will not the same thing occur again this year? The managers and leading personnel of our industries now promise to increase industrial output in 1931 by 45 per cent. But what guarantee is there that this promise will be kept?

What is needed in order to fulfil the control figures, to achieve a 45 per cent increase in output, to secure the fulfilment of the five-year plan not in four, but, as regards the basic and decisive branches of industry, in three years?

Two fundamental conditions are needed for this.

Firstly, real or, as we term it, "objective" possibilities.

Secondly, the willingness and ability to direct our enterprises in such a way as to realise these possibilities.

Did we have the "objective" possibilities last year for completely fulfilling the plan? Yes, we had. Incontestable facts testify to this. These facts show that in March and April of last year industry achieved an increase of 31 per cent in output compared with the previous year. Why then, it will be asked, did we fail to fulfil the plan for the whole year? What prevented it? What was lacking? The ability to make use of the existing possibilities was lacking. The ability to manage the factories, mills and mines properly was lacking.

We had the first condition: the "objective" possibilities for fulfilling the plan. But we did not have in sufficient degree the second condition: the ability to manage production. And precisely because we lacked the ability to manage the factories, the plan was not fulfilled. Instead of a 31-32 per cent increase we had one of only 25 per cent.

Of course, a 25 per cent increase is a big thing. Not a single capitalist country increased its production in 1930, or is increasing production now. In all capitalist countries without exception a sharp decline in production is taking place. Under such circumstances a 25 per cent increase is a big step forward. But we could have achieved more. We had all the necessary "objective" conditions for this.

And so, what guarantee is there that what happened last year will not be repeated this year, that the plan will be fulfilled, that we shall use the existing possibilities in the way that they should be used, that your promise will not to some extent remain a promise on paper?

In the history of states and countries, in the history of armies, there have been cases when there was every possibility for success and victory, but these possibilities were wasted because the leaders failed to notice them, did not know how to take advantage of them, and the armies suffered defeat.

Have we all the possibilities that are needed to fulfil the control figures for 1931?

Yes, we have such possibilities.

What are these possibilities? What is needed in order that these possibilities should really exist?

First of all, adequate natural resources in the country: iron ore, coal, oil, grain, cotton. Have we these resources? Yes, we have. We have them in larger quantities than any other country. Take the Urals, for example, which provide a combination of resources not to be found in any other country. Ore, coal, oil, grain — what is there not in the Urals? We have everything in our country, except, perhaps, rubber. But within a year or two we shall have our own rubber as well As far as natural resources are concerned we are fully provided. We have even more than necessary. What else is needed?

A government desirous and capable of utilising these immense natural resources for the benefit of the people. Have we such a government? We have. True, our work in utilising natural resources does not always proceed without friction among our leading personnel. For instance, last year the Soviet Government had to conduct a certain amount of struggle over the question of creating a second coal and metallurgical base, without which we cannot develop further. But we have already overcome these obstacles and shall soon have this base.

What else is needed?

That this government should enjoy the support of the vast masses of workers and peasants. Does our government enjoy such support? Yes, it does. You will find no other government in the world that enjoys such support from the workers and peasants as does the Soviet government. There is no need for me to refer to the growth of socialist emulation, the spread of shock-brigade work, the campaign and struggle for counter-plans. All these facts, which vividly demonstrate the support that the vast masses give the Soviet Government, are well known.

What else is needed in order to fulfil and overfulfil the control figures for 1931?

A system that is free from the incurable diseases of capitalism and has great advantages over capitalism. Crises, unemployment, waste, destitution among the masses — such are the incurable diseases of capitalism. Our system does not suffer from these diseases because power is in our hands, in the hands of the working class; because we are conducting a planned economy, systematically accumulating resources and properly distributing them among the different branches of the national economy. We are free from the incurable diseases of capitalism. That is what distinguishes us from capitalism; that is what constitutes our decisive superiority over capitalism.

Notice the way in which the capitalists are trying to escape from the economic crisis. They are reducing the workers' wages as much as possible. They are reducing the prices of raw materials as much as possible. But they do not want to reduce the prices of food and industrial commodities for mass consumption to any important extent. This means that they want to escape from the crisis at the expense of the principal consumers, at the expense of the workers and peasants, at the expense of the working people. The capitalists are cutting the ground from under their own feet. And instead of overcoming the crisis they are aggravating it; new conditions are accumulating which lead to a new, even more severe crisis.

Our superiority lies in the fact that we have no crises of overproduction, we have not and never will have millions of unemployed, we have no anarchy in production, for we are conducting a planned economy. But that is not all. We are a land of the most concentrated industry. This means that we can build our industry on the basis of the best technique and thereby secure an unprecedented productivity of labour, an unprecedented rate of accumulation. Our weakness in the past was that this industry was based upon scattered and small peasant farming. That was so in the past; it is no longer so now. Soon, perhaps within a year, we shall become the country of the largest-scale agriculture in the world. This year, the state farms and collective farms — and these are forms of large-scale farming — have already supplied half of all our marketable grain. And that means that our system, the Soviet system, affords us opportunities of rapid progress of which not a single bourgeois country can dream.

What else is needed in order to advance with giant strides?

A party sufficiently solid and united to direct the efforts of all the best members of the working class to one point, and sufficiently experienced to be unafraid of difficulties and to pursue systematically a correct, revolutionary, Bolshevik policy. Have we such a party? Yes, we have. Is its policy correct? Yes, it is, for it is yielding important successes. This is now admitted not only by the friends but also by the enemies of the working class. See how all the well-known "honourable" gentlemen, Fish in America, Churchill in Britain, Poincare in France, fume and rave against our Party. Why do they fume and rave? Because the policy of our Party is correct, because it is yielding success after success.

There, comrades, you have all those objective possibilities which assist us in realising the control figures for 1931, which help us to fulfil the five-year plan in four years, and in the key industries even in three years.

Thus we have the first condition for fulfilment of the plan — the "objective" possibilities.

Have we the second condition, the ability to use these possibilities?

In other words, are our factories, mills and mines properly managed? Is everything in order in this respect?

Unfortunately, not everything is in order here. And, as Bolsheviks, we must say this plainly and frankly.

What does management of production mean? There are people among us who do not always have a Bolshevik approach to the question of the management of our factories. There are many people among us who think that management is synonymous with signing papers and orders. This is sad, but true. At times one cannot help recalling Shchedrin's Pompadours. Do you remember how Madame Pompadour taught the young Pompadour: "Don't bother your head with science, don't go into matters, let others do that, it is not your business — your business is to sign papers." It must be admitted to our shame that even among us Bolsheviks there are not a few who carry out management by signing papers. But as for going into matters, mastering technique, becoming master of the business — why, that is out of the question.

How is it that we Bolsheviks, who have made three revolutions, who emerged victorious from the bitter civil war, who have solved the tremendous task of building a modern industry, who have swung the peasantry on to the path of socialism — how is it that in the matter of the management of production we bow to a slip of paper?

The reason is that it is easier to sign papers than to manage production. And so, many economic executives are taking this line of least resistance. We, too, in the centre, are also to blame. About ten years ago a slogan was issued: "Since Communists do not yet properly understand the technique of production, since they have yet to learn the art of management, let the old technicians and engineers — the experts — carry on production, and you, Communists, do not interfere with the technique of the business; but, while not interfering, study technique, study the art of management tirelessly, in order later on, together with the experts who are loyal to us, to become true managers of production, true masters of the business." Such was the slogan. But what actually happened? The second part of this formula was cast aside, for it is harder to study than to sign papers; and the first part of the formula was vulgarised: non-interference was interpreted to mean refraining from studying the technique of production. The result has been nonsense, harmful and dangerous nonsense, which the sooner we discard the better.

Life itself has more than once warned us that all was not well in this field. The Shakhty affair 2 was the first grave warning. The Shakhty affair showed that the Party organisations and the trade unions lacked revolutionary vigilance. It showed that our economic executives were disgracefully backward in technical knowledge; that some of the old engineers and technicians, working without supervision, rather easily go over to wrecking activities, especially as they are constantly being besieged by "offers" from our enemies abroad.

The second warning was the "Industrial Party" trial 3 .

Of course, the underlying cause of wrecking activities is the class struggle. Of course, the class enemy furiously resists the socialist offensive. This alone, however, is not an adequate explanation for the luxuriant growth of wrecking activities.

How is it that wrecking activities assumed such wide dimensions? Who is to blame for this? We are to blame. Had we handled the business of managing production differently, had we started much earlier to learn the technique of the business, to master technique, had we more frequently and efficiently intervened in the management of production, the wreckers would not have succeeded in doing so much damage.

We must ourselves become experts, masters of the business; we must turn to technical science — such was the lesson life itself was teaching us. But neither the first warning nor even the second brought about the necessary change. It is time, high time that we turned towards technique. It is time to discard the old slogan, the obsolete slogan of non-interference in technique, and ourselves become specialists, experts, complete masters of our economic affairs.

It is frequently asked: Why have we not one-man management? We do not have it and we shall not get it until we have mastered technique. Until there are among us Bolsheviks a sufficient number of people thoroughly familiar with technique, economy and finance, we shall not have real one-man management. You can write as many resolutions as you please, take as many vows as you please, but, unless you master the technique, economy and finance of the mill, factory or mine, nothing will come of it, there will be no one-man management.

Hence, the task is for us to master technique ourselves, to become masters of the business ourselves. This is the sole guarantee that our plans will be carried out in full, and that one-man management will be established.

This, of course, is no easy matter; but it can certainly be accomplished. Science, technical experience, knowledge, are all things that can be acquired. We may not have them today, but tomorrow we shall. The main thing is to have the passionate Bolshevik desire to master technique, to master the science of production. Everything can be achieved, everything can be overcome, if there is a passionate desire for it.

It is sometimes asked whether it is not possible to slow down the tempo somewhat, to put a check on the movement. No, comrades, it is not possible! The tempo must not be reduced! On the contrary, we must increase it as much as is within our powers and possibilities. This is dictated to us by our obligations to the workers and peasants of the U.S.S.R. This is dictated to us by our obligations to the working class of the whole world.

To slacken the tempo would mean falling behind. And those who fall behind get beaten. But we do not want to be beaten. No, we refuse to be beaten! One feature of the history of old Russia was the continual beatings she suffered because of her backwardness. She was beaten by the Mongol khans. She was beaten by the Turkish beys. She was beaten by the Swedish feudal lords. She was beaten by the Polish and Lithuanian gentry. She was beaten by the British and French capitalists. She was beaten by the Japanese barons. All beat her — because of her backwardness, because of her military backwardness, cultural backwardness, political backwardness, industrial backwardness, agricultural backwardness. They beat her because it was profitable and could be done with impunity. You remember the words of the pre-revolutionary poet: "You are poor and abundant, mighty and impotent, Mother Russia." 4 Those gentlemen were quite familiar with the verses of the old poet. They beat her, saying: "You are abundant," so one can enrich oneself at your expense. They beat her, saying: "You are poor and impotent," so you can be beaten and plundered with impunity. Such is the law of the exploiters — to beat the backward and the weak. It is the jungle law of capitalism. You are backward, you are weak — therefore you are wrong; hence you can be beaten and enslaved. You are mighty — therefore you are right; hence we must be wary of you.

That is why we must no longer lag behind.

In the past we had no fatherland, nor could we have had one. But now that we have overthrown capitalism and power is in our hands, in the hands of the people, we have a fatherland, and we will uphold its independence. Do you want our socialist fatherland to be beaten and to lose its independence? If you do not want this, you must put an end to its backwardness in the shortest possible time and develop a genuine Bolshevik tempo in building up its socialist economy. There is no other way. That is why Lenin said on the eve of the October Revolution: "Either perish, or overtake and outstrip the advanced capitalist countries."

We are fifty or a hundred years behind the advanced countries. We must make good this distance in ten years. Either we do it, or we shall go under.

That is what our obligations to the workers and peasants of the U.S.S.R. dictate to us.

But we have yet other, more serious and more important, obligations. They are our obligations to the world proletariat. They coincide with our obligations to the workers and peasants of the U.S.S.R. But we place them higher. The working class of the U.S.S.R. is part of the world working class. We achieved victory not solely through the efforts of the working class of the U.S.S.R., but also thanks to the support of the working class of the world. Without this support we would have been torn to pieces long ago. It is said that our country is the shock brigade of the proletariat of all countries. That is well said. But is imposes very serious obligations upon us. Why does the international proletariat support us? How did we merit this support? By the fact that we were the first to hurl ourselves into the battle against capitalism, we were the first to establish working-class state power, we were the first to begin building socialism. By the fact that we were engaged on a cause which, if successful, will transform the whole world and free the entire working class. But what is needed for success? The elimination of our backwardness, the development of a high Bolshevik tempo of construction. We must march forward in such a way that the working class of the whole world, looking at us, may say: There you have my advanced detachment, my shock brigade, my working-class state power, my fatherland; they are engaged on their cause, our cause, and they are working well; let us support them against the capitalists and promote the cause of the world revolution. Must we not justify the hopes of the world's working class, must we not fulfil our obligations to them? Yes, we must if we do not want to utterly disgrace ourselves.

Such are our obligations, internal and international. As you see, they dictate to us a Bolshevik tempo of development.

I will not say that we have accomplished nothing in regard to management of production during these years. In fact, we have accomplished a good deal. We have doubled our industrial output compared with the pre-war level. We have created the largest-scale agricultural production in the world. But we could have accomplished still more if we had tried during this period really to master production, the technique of production, the financial and economic side of it.

In ten years at most we must make good the distance that separates us from the advanced capitalist countries. We have all the "objective" possibilities for this. The only thing lacking is the ability to make proper use of these possibilities. And that depends on us. Only on us! It is time we learned to make use of these possibilities. It is time to put an end to the rotten line of non-interference in production. It is time to adopt a new line, one corresponding to the present period — the line of interfering in everything. If you are a factory manager — interfere in all the affairs of the factory, look into everything, let nothing escape you, learn and learn again. Bolsheviks must master technique. It is time Bolsheviks themselves became experts. In the period of reconstruction, technique decides everything. And an economic executive who does not want to study technique, who does not want to master technique, is a joke and not an executive.

It is said that it is hard to master technique. That is not true! There are no fortresses that Bolsheviks cannot capture. We have solved a number of most difficult problems. We have overthrown capitalism. We have assumed power. We have built up a huge socialist industry. We have transferred the middle peasants on to the path of socialism. We have already accomplished what is most important from the point of view of construction. What remains to be done is not so much: to study technique, to master science. And when we have done that we shall develop a tempo of which we dare not even dream at present.

And we shall do it if we really want to.

Pravda, No. 35, February 5, 1931

Collected Works Index | Volume 13 Index Works by Decade | J. V. Stalin Archive