Hunting and Fishing Enthusiasts, Outdoorsmen of All Kinds…Now You Can Build A Business Doing What You Love!
Just ask Michael and Kim Back. They’re the founders of The Bargain Hunter, the first outdoor and sporting goods discount and consignment store of its kind…
It wasn’t too long ago that Michael and Kim Back took stock of the incredible amount of camo they’d managed to amass in their years of pursuing their love of the outdoors. Hunting and fishing, in particular, had always been two of their favorite pastimes. And, they had at least two closets full of stuff to prove it.
But it was time to make some room and do some house cleaning. “We’d spent a lot of money on all of this gear and equipment,” Michael Back says. “And we’d taken such good care of it all; most of us who love the outdoors do. It was just too nice to throw it in some yard sale, and hope the right buyer would come along and appreciate it the way we did.” They figured they weren’t alone, and they were right.
Two years, one very well-conceived business plan and lots of hard work later, the outdoor and sporting goods discount and consignment store concept the Backs conceived in response to their theory is booming. In fact, the first Bargain Hunter store very rapidly evolved into 17 and counting.
Today, the Backs are just one more example of how doing what you love can evolve into something more successful and rewarding than you ever thought possible. They know they’ve identified an as yet untapped niche that they need to capitalize on quickly. Bottom line…the time for growth is now.
In Tough Times, Everybody Loves a Bargain
Hunting, fishing, camping and sporting goods equipment, gear and clothing retailers and manufacturers comprise a multibillion dollar industry. It wasn’t so long ago that the market for their products and services looked virtually limitless. Consumers would think nothing of spending top dollar for whatever they wanted and needed to enjoy their favorite outdoor sports and activities. But those days are over. In today’s more frugal economic climate, it seems everyone is looking for a bargain. In fact, studies show that consignment store sales are up as much as 65% over last year.
However, consumers still want to know that what they’re buying is high quality and that it will last. The good news is that the slowed economy has actually created a glut of high quality merchandise that just isn’t moving at the retail, box store level. According to Back, “Suppliers are sitting on excess inventory that they need to get rid of, and we’re making the most of it.” Given that the number of Bargain Hunter stores is substantial and growing, the company is willing and able to buy in bulk from both manufacturers and suppliers directly. As such, there are some amazing deals to be had by Bargain Hunter shoppers, and the word is spreading.
To keep things interesting, the company does not limit the kind of inventory it carries, so long as it is in keeping with the stores’ outdoor enthusiast theme. “We’ve gotten to where we even have a supplier for four-wheelers, scooters, mules and helmets,” Back says. “And the kinds of relationships we’re creating to enhance our merchandise profile are growing as fast as we do, faster even.” For instance, The Bargain Hunter is now working with a number of very large specialty box stores to purchase their returned inventory, as well as their overages. “We’re also working on getting licensed so that The Bargain Hunter stores can import items direct that are branded with the company logo to ensure they meet strict quality standards,” he says.
As for the consignment side of the business, each store owner can choose to carry whatever items he/she sees fit. Depending on the store, the range of consignment merchandise can include everything from rifles and shotguns (given the proper licensure, of course), fishing and hunting gear, skis, decoys, boats…you name it. Some outlets may even want to carry clothing, electronics, housewares and home décor items. “We encourage our store owners to be as creative as they want to be in selecting their inventory, so long as it fits in with the overall Bargain Hunter concept of outdoor sports and leisure,” Back says. True to his word, there are even plans for a number of stores to feature indoor archery ranges.
The Right Fit
Of course, running a retail store of any kind isn’t the right career choice for anyone and everyone. The Bargain Hunter concept is a brilliant one, that’s for sure. But it still requires just the right person for the job.
According to Back, a Bargain Hunter owner can easily expect to make six figures in any given year right away. That’s a very respectable return on an initial investment of $18,500 to $45,000, depending on which start-up package you choose, to be sure. He also points out that although it’s a good living, it’s also a full-time job, and anyone interested in owning a Bargain Hunter store needs to know that going in. “We’re looking for good people who want to own a business and know what it takes,” he says. “Management skills are vital, and having good financial acumen is also important.”
While Back concedes that being an outdoor enthusiast is helpful, it’s not necessary. “Every potential candidate for this business opportunity is going to be different, and that’s okay,” he asserts. “We talk to each one and make the effort to assess them as individuals with their own strengths who don’t necessarily have to fit a particular profile.” At the same time, Back makes it clear that any potential owner must be as vested, passionate and dedicated to maintaining the value, quality and integrity of the Bargain Hunter brand as he and is wife have been and always will be.
Limitless Potential for Growth
In just the last year or so, the growth potential for The Bargain Hunter concept has revealed itself to be exponential. Already the Backs are planning to work with new owners in opening up more than ten stores in just this year alone, and there are dozens more in the pipeline. “We had no idea that this thing would take off this way,” he says. “We really hit on something in a way that no one else has ever really done before now.”
The company’s expansion isn’t just in terms of the number of stores, but in its own infrastructure to sustain what is quickly becoming a nationwide phenomenon. In fact, there are already three marketing teams in place whose sole job is to cull the internet for used gear of a certain quality to sustain store inventory. A monthly fee of just $350 per store supports these efforts, as well as the company’s overall marketing initiatives. “Other than the start-up costs, that’s all each store pays on an ongoing basis,” Back assures. “Everything else is profit.”
Asked if he ever envisioned himself at the helm of such a large and promising business enterprise, Back can only chuckle and then marvel at the path his life has taken in just a few short years. “I spent 16 years in manufacturing, and my wife and I even spent some time working in the coal mines of Wyoming,” he says. “All I ever really wanted to be was a pro deer hunter or a fisherman. I guess this is the next best thing!”
Interested in learning more about this or other Business Opportunities, Distributorships, Licensee Opportunities and Small Franchises? Start your search here...
