Trophy Store Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Trophy Store 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 Trophy Store 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.
Product Specifications (please see images below):
Despite it being a relatively small industry, trophy stores typically tend to do well in most economic climates. This is primarily due to the fact that there are usually a number of different little leagues, corporate gatherings, and other events that are of a competitive nature. At the end of these events, small trophies for the winners as well as people that have participated are typically issued. As such, these businesses are able to make moderate sales on an ongoing basis from their retail locations. Given the nature of these businesses, it is imperative that trophy stores also maintain an online presence so that sales can be made from outside the retail location. In fact, one of the reasons why many trophy stores are able to remain profitable is through the maintenance of an e-commerce capable website that allows for bulk orders to be placed as well as for customized orders.
Trophy stores typically have a very low startup cost in the range anywhere from $25,000 to $100,000 depending on the scope and scale of the retail location, whether or not an e-commerce website will be developed, and the initial inventories of the business. The gross margins from sales typically ranges anywhere from 40% to 80% depending on the size of the order and whether or not it needs to be customized.
A trophy store business plan should be developed as well in order to determine whether or not the business will be economically viable. This business plan should feature a three year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. Unlike most types of businesses, the demographic analysis as well as the competitive analysis can be done somewhat on the lighter side given that there are only usually a handful of trophy stores even in major metropolitan area markets. Of course, these aspects of the business plan should not be neglected given that a business plan that is very well written will focus on the economic viability of the company.
A trophy store SWOT analysis should be produced in order to understand the strengths, weaknesses, opportunities, and threats faced by these companies on an ongoing basis. As it relates to the strengths, trophy stores are generally able to produce positive incomes and most economic climates given the fact that trophies are low-cost people. People are always going to want to have events that are of a competitive nature, and small trophies will always be issued at the end of these events. The barriers to entry are considered to be very low.
For weaknesses, these businesses do have revenues that are wholly subject to negative changes in the economy. Trophies are not a necessity, and as such during a prolonged economic recession the revenues of these businesses can decline.
For opportunities, as discussed above – it is very important that he trophy store have an e-commerce capability so that sales can be made from anywhere in the world. Many trophy store owners will also maintain a presence on popular third-party sales platforms like Amazon, eBay, Walmart.com, Etsy, and related platforms in order to make additional sales.
There are no threats that are going to face this business moving forward outside of a major economic recession. Competitive issues in most markets is usually minimal.
A trophies for marketing plan also needs to be developed in order to ensure that people can find the business quickly. For most, a mobile friendly and e-commerce driven website should be developed in order to ensure that people can quickly do a search and find the business especially on a local or regional basis. This website should feature the entire inventory of the business while concurrently allowing people to place orders for trophies directly to the website. There should be functionality that allows for the customization of any product that is offered through the store or through the website. A search engine optimization and pay per click marketing firm can be retained in order to ensure the website can be found quickly not only a local and regional level and also on a national level as well in order to drive e-commerce sales.
Trophy stores are going to continue to be a very small aspect of the overall economy, but they’re also going to be able to remain profitable at all times. People love to receive trophies for not only winning but also participating and as such these businesses will be able to produce revenues. One of the key ways of these businesses can succeed in any market is by developing ongoing relationships with little leagues, sporting clubs, as well as any other organization that has competitive activities. These businesses can be a modestly lucrative business for a qualified owner-operator.