Has anyone started a tack store and are doing okay? How did you start?
I know most tack stores rely on an online presence as well. And I understand I cannot expect to make a “killing” but I am just curious. We have no tack store here and there seems like a need, but at the same time there are a lot of people who shop online.
I think the TL;DR is that you are crazy.
Brick and mortar retail is a tough business to be in this decade. Niche businesses even more so. You need to spend $100K on initial stock to have a store that does not look empty. Then you need to pay ongoing expenses like staff and rent and restocking. You can get a good markup on some items like clothing, but they are highly seasonal and you need to be able to simultaneously keep all sizes on hand and not get stuck with unsold items at the end of the season that need discounting to clear. You will probably not be able to get a good markup on big ticket items as they will be deeply discounted on the internet.
Maybe you can make a go of it if you happen to have a good starting point. Maybe you have a spare shopfront at a 2000 horse boarding barn that is visible from the road and enough spare time to work for free for the first 6 months while customers find you.
Established businesses are giving up. It would not be an area I chose to gamble hundreds of thousands of dollars and thousands of hours on. It’s not that I think you will not make “a killing”, it’s that I think you will lose $10K a month every month till you give up.
Maybe you can do something related, like buy up failed tack store inventories and sell it on ebay, or set up vending machines with every day items like horse treats, lead ropes and fly spray and convince barns to let you rent space to set them up.
I agree that it might be hard to start up a new tack shop (but that’s an interesting idea about the vending machines!).
I’ve sometimes wondered about opening a tack consignment store. Wouldn’t there be a lot less risk since you don’t have to purchase the stock? However, with lower sales prices, you’d need to move a lot of inventory to pay the rent and employees. My area could probably use one, as we’re near a major highway but at least an hour away from decent consignment stores in 3 directions.
I recently consigned some stuff to a new little shop that just opened. Located in her barn so no rent. No employees. She seems to be offering everything on line too. With minimal overhead I think and hope she will make it.
We have a new tack store in my town. It has been open about two years now. Her business is going gangbusters. The store is well stocked, attractively laid out, and the owner is very personable and takes pains to remember her customers. She also has events several times a year. Last year she also had a series of talks from the local equine vets - covering subjects such as colic and stocking your emergency supply kit.
I happened to go into her store a few days before her grand opening to check it out. Not only was she very friendly then, she remembered me by name when I went back several days later for the opening event. A few months ago I asked her if she was going to get the new Back on Track helmet. She told me she was going to market and would make sure to get some. She later called me on my cell phone from the BOT booth in the market to make sure that she got some helmets in my size and the style that I was interested in. She stated that she would be ordering more but wanted to make sure that she had some for me in her first shipment. That is why she is such a success.
I think the bottom line is that you need to have the money for really good inventory and you need to offer exceptional service. I think that is true for all retailers these days.
I’m a buyer for a small farm store chain. I can tell you that knowing what I know, I wouldn’t be exclusive. Meaning that our stores are successful because we offer multiple departments- feed, garden, clothing, pet, and tack/animal health. When one area is experiencing challenges, others do well which keeps everything in the black.
People around here seem to think that you make a lot of money in the feed and animal health/tack business. You don’t. I’ve seen so many small operations open that start out so ridiculously cheap, (typically by not calculating freight into COG) then quickly realize they can’t be that cheap. By then they’ve been open a few months; have to raise prices to make up for being too low, then suddenly can’t sell at those prices. They also don’t have the benefit of being large enough to take advantage of tiered pricing with manufacturers/vendors so their pricing can be too high.
Also- customers are fickle. They come in, tell you what they like/want, then buy it online. They also all have their own opinions on what is a good color/design/trend/whatever, so it is a constant challenge to have the right inventory. You’re not going to make everyone happy. If you have other departments, you can take the hit on the lost margin in clearance items when you have to get out of old inventory. Garden, clothing and pet treats/toys are great for gaining margin.
Hope that helps!
I own a tack store. I opened it almost two years ago. I’m lucky. I had the $120k to buy inventory. I also have a husband with a pay check that covers living expenses as I’m still not really taking a paycheck.
But we are doing well. And things have been tremendously better this year than our first year and we’re only going up from here.
I also agree with having different lines. We also have dog and cat food and supplies. We don’t make a ton from it but it gets non horse people in. We do a ton of sales in clothing, boots, and helmets. We’re in a large horse area and the other two tack shops near me closed after I opened. Customer service is so important. It will make or break your business. People are starting to want to shop local.
If you have the money to start without taking a loan, and are able to work for at least a year without a paycheck go for it.
Exceptional customer service is the key. It also burns you out quickly. It drives me crazy to walk into a tack store and greeted by horse snobs. It would be lovely to have a knowledgeable sales person that doesn’t talk about themselves actually help you. Of course there is a flip side to this, the horse owner who talks non stop about themselves and doesn’t buy anything.
Many years ago we had a guy who had a mini room in the barn. HE sold reins, clinches, halters,leads, dsmo out of it.
He trailered horses to shows, if he wasn’t hauling he filled his trailer with those emergency items people need and set up at shows.
Id be more inclined to do that setup and see if it makes $ before committing to the monthly rent of a store. By that I mean keep your costs flexible and low until demand is proven.
If you do it, stock stuff that wears out/gets used up. I am always willing to spend money on fly spray, SWAT, MTG (or the skin fixer of your choice), salt blocks, lead ropes and boots. People who’s horses wear boots in turnout burn through them.
Now at a couple local tack stores I do that. At a big one in Baltimore I can only do so if the right thing is on consignment. They don’t stock much of that stuff new, only clothes that are out of my price range.
Offer services like blanket cleaning, clipper sharpening or leather repair to get people in the door. Know your market and don’t sell Tailored Sportsman’s when your community is on a Horze budget.
Can’t really offer advice from the business aspect. I looked several times over the years of buying a local tack store that the owner was wanting to retire. Never had the guts to do it. The idea of selling upper end hunter/jumper tack and apparel in a ranching and gaming community just didn’t seem like a good idea. And I had no interest in catering to disciplines that did not interest me. So know who you are catering to.
I will say, do your homework and know your inventory. I know comparing Dover to a local store is apples and oranges, but I must share a huge turn off from the big box store. I went in looking for some new show boots, I had done all the research I could online and had narrowed down what I was looking at. I wanted a quality boot but could not afford a Monoco through custom price. I had found lower end Ariats on big discount on eBay; I just wanted to try on once to double check my size. The fit was atrocious for a multitude of reasons, and when I questioned the sales rep about declining Ariat quality, difference in boots, etc, she had no earthly clue. Couldn’t tell me the difference between two different lower end Ariat models of the same price point, difference between two different upper end models of the same price point, essentially knew nothing about any of the boots in stock. And had nothing to offer. Maybe grab a more knowledgable rep to help? Nope. Just “sorry, I don’t know Ariats very well.” And they didn’t carry much of anything in my size.
I won’t ever go back for anything that I need “help” with; boots, helmets, etc. My local-ish tack store was much more helpful and had a better stock; ie, carry sizes that will fit the average rider, not just the sub-size 0 barbie doll. I’m sure it’ll hurt the bottom line to carry obscure sizes, but that just could keep you hanging on to a few extra clients. And knowing the difference in models and brands.
I always try to support local businesses (assuming I’m not getting burned by price markups), but my local-ish store earned a lifelong client by carrying a boot that actually fits my runners calves and slightly longer foot :yes:
Be helpful, but not obnoxious. I HATE feeling like someone is hanging over my shoulder as I shop.
Not sure if any of this helps, but worth a shot! We all need more local tack stores.
I would say that you have to really want to make this investment into a tack store because you love the idea of creating a business that serves your local equestrian community and allows you to fulfill a dream. I am not in the retail business but have a view of where it is going in the future and would be very hesitant to take this on if my goal was to make a real profit. People these days are so very comfortable buying everything online with free shipping, free returns, trials on used tack, etc. If you had a very low cost store presence and were really savvy about leveraging the online sales venues then maybe, but otherwise it sounds like a labor of love. Best of luck whatever you decide.
I had found lower end Ariats on big discount on eBay; I just wanted to try on once to double check my size. The fit was atrocious for a multitude of reasons, and when I questioned the sales rep about declining Ariat quality, difference in boots, etc, she had no earthly clue. Couldn’t tell me the difference between two different lower end Ariat models of the same price point, difference between two different upper end models of the same price point, essentially knew nothing about any of the boots in stock. And had nothing to offer. Maybe grab a more knowledgable rep to help? Nope. Just “sorry, I don’t know Ariats very well.” And they didn’t carry much of anything in my size.
The last years of my employment was spent at a wholesale distribution company. I was constantly faced with “I can buy that cheaper on-line”… do it but note we track serial numbers and Do Not Even Think About a Warranty Claim to be processed by us.
OP read this again and again before you drop a few hundred thousand dollars into what just may be an bottomless pit
“I had found lower end Ariats on big discount on eBay; I just wanted to try on once to double check my size” …
Yah I noticed that too clanter. Perhaps clerk also realized?
This is a very good point but does not excuse the fact that she knew nothing about their stock. I should add that I mentioned nothing of finding boots on eBay. I was desperate to find a boot that fit and think that was obvious when I was on the verge of tears when I discovered the boot did not fit, and desperate enough that I was willing to go ahead with a way more expansive boot… right then and there, if they had carried a decent inventory of sizes.
Know own what you have, know the difference in models, be helpful. If you put a little more effort than the big box stores, you’ll earn yourself lifetime customers. Just like my local-ish store did by simply being helpful.
Ace Hardware stores are doing just that and winning against Lowes, Home Depot and even the on line stores
Indeed, my BIL and his son have three Ace stores and are doing well in spite of lots of “big box” competition. Our local Ace beats Lowes (the closest big box competition) on most “commercial” supplies but not really the nearest Home Depot. There are some things I immediate go to HD for and others I immediately go to Ace for.
G.
We opened a tack store in 1990 in a small town of about 10,000 people in the area. We also carried western wear, feed and pet supplies. Over the years, we quit the western wear and focused more on pet supplies. Our tack selection dwindled because we couldn’t carry enough saddles and online business were increasing.
In the end, we had a fabulous pet store and carried livestock feed and supplies as well as first aid stuff. Biggest center is 3 hours away and people would go there to shop for tack. We carried good quality tack that we would use. We sold the store 3 years ago and it was bought by a chain who eliminated all the livestock stuff and feed. Locals decided they would open their own store to compete with it and the only thing that is keeping them in business is the livestock stuff. They stupidly didn’t realize how much freight costs and were not ordering enough stock to get it shipped free. They were advertising on Facebook looking for someone to bring them stock from 6 hours away.
It is a tough go unless you are in a big market area. Consignment shops seem to do well as long as you keep up with good quality items.
Agreed. My local Ace (which is also 7 miles closer than the nearest Home Depot), employs a guy who can only be called a bolt wizard. I came in with a stripped bolt that needed to be replaced, was immediately asked if I needed any help. I said “I need to replace this bolt”, and the guy eyeballed it, knew the thread count, and found it in the hundred or so little drawers of nuts/bolts within seconds. I would have been there forever trying to find it.
The same is true for my parents’ appliance sales/service company. They may not be able to beat the box store prices on sales, but have the knowledge and trustworthiness that creates life-long customers.
So, the advice to be knowledgeable and customer focused is good advice.
I wish that the classic brick & mortar tack shop was still a thing. I have amazing memories shopping in several of our big local tack shops as a kid. Sadly those are almost all gone. It’s just extremely hard to make the numbers work. The only shop I know that has continued to exist and do well is connected to a show barn with +100 horses, and mainly supplies consumables, and high end tack and blankets to their clients. They have a trailer at some horse shows, but aside from that they are by-appointment only.
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