Starting a skateboard company can be an exciting experience for anyone fully prepared for it.
However, this article isn’t directed at such a category of persons. It’s written for those with little or no experience at all.
So, if you find yourself in this category, join us as we provide you with as much information as required for take-off.
STEPS TO STARTING A SKATEBOARD BUSINESS
We have eliminated all forms of guesswork by focusing on practical steps.
Identifying your Market
One of the problems entrepreneurs face when starting a skateboard company is being able to identify their market.
But this isn’t that difficult. It all starts with knowing what you want. You may live in a community with an aging population.
In such situations, things may look quite bleak. But not everyone is aging, right? However few, there’s a young population and vibrant population.
The point here is that you should look at possibilities. In other words, something big can spring up from seemingly impossible circumstances. You can enlist the help of experts by seeking their opinion.
A lot of background work is necessary to develop something marketable eventually.
This is why you need this skateboard business plan.
Organize a Team
This is one of the challenging aspects of starting a skateboarding company. Team building requires careful preparation.
Preparation, in turn, requires cash. You need to understand that selecting and sponsoring team members translates to investments. So, this action requires all the planning it deserves.
There are skateboards, branded shirts, stickers, and so much more to be given out. These cost money and would need to be carefully planned out.
The personalities and mentality of team members are yet another factor to consider. These should have a clear understanding of what’s at stake.
Choose a Name that Resonates with your Brand
A name is crucial to the success of your skateboard company. This is because it can either create a lasting impression about your business or not.
Therefore, you need a name that captures the essence of your brand. This isn’t obtained in a single day. It would help if you had a lot of work to create something unique. So, you can either get the help of a professional or do some research yourself.
Whichever method you choose, one thing is sure; Never rush the process! Find out what makes successful skateboarding brands tick. This can be of significant help in your choice of the correct name.
You Also Need a Logo
The logo is the next important thing after choosing an appropriate name. This should either be designed by you or a professional. Your logo is crucial because it will be part of the branding process.
In other words, your boards, shirts, stickers, and other equipment will bear this logo. Therefore, this has to be appealing as well as easily relatable.
Who Makes your Boards?
This is very important as the board is one core equipment need to start a skateboard company. The quality of your panels will also determine how far your business goes.
In addition to board manufacturing, there’s also the issue of size. Specific board sizes sell more than others. Those attracting the highest sales include sizes 8 and 8.25.
The generator is a partner you should consider for your board manufacturing. This is because its Kayo and DLX boards are considered superior to other board types. This decision has the potential to impact sales.
So, how well you plan for this determines the success of your skateboard company.
Adopting Powerful Marketing Strategies
Effective marketing strategies are the lifeline of any skateboarding company. Hence, there are so many such strategies to apply.
One such is by producing limited edition skateboards. This has a powerful psychological impact on buyers. More often than not, buyers will stay for days to purchase skateboards considered to be soon out of supply.
This is just one of several marketing strategies you can adopt.
Therefore, consider putting together a result-oriented marketing team to be the most effective. This aspect of the business will determine your branding campaign’s success.
Try Some Social Media Advertising
Skateboards are often hyped on magazines and other platforms. As a result, this hype has begun to lose steam.
However, you can take advantage of social media platforms. Showing demo videos on how your boards perform better will likely draw attention to your brand. People should be able to purchase by clicking such links.
Build a Website
A website is an essential tool for doing business. Therefore, this shouldn’t be overlooked when starting your skateboard company.
The website should be easy to navigate for clients. It should also have every information they need to know about the business.
But above all, clients should be able to make purchases on your website. This should have extended links to social media platforms too.
You Should Love What You Do
It isn’t enough to want to start a skateboard company. Such a decision should be accompanied by passion. This is what keeps you going during the hard times.
An added incentive is the feeling of satisfaction and fulfillment you derive. This also creates a sense of freedom because you don’t see it as work but as a hobby.
Having an Exit Strategy
This is of utmost importance for every entrepreneur. This should be a part of your strategy when starting your skateboard company.
So, what does an exit strategy mean? Research has shown that only 5% of all businesses survive their 5% anniversary. This means that the other 95% fail.
Although we aren’t saying you’d fail, you should have a backup strategy.
This exit strategy will protect you from experiencing a complete wipeout. So how does this happen? A well-planned exit strategy ensures you still earn something from your efforts.
We’ve seen that starting a skateboard company requires a lot of work. However, challenging, there specific strategies that increase your chance of success. These have been included above.
But above all, you should have love and passion for what you do. Anything less than that is bound to affect your company adversely.