How much would it cost to start one up?

Obviously you'll need a business plan, a loan's process, insurance, registration, etc etc.

I imagine it would be around $50K for starters, and that's just the deposit?

Plus business relationships with suppliers, marketing and advertising to say the least.

Your thoughts?

I couldn't tell you, but I reckon if you've got that much money laying around, pay off the mortgage, invest, buy that top of the wozz 4WD, go on a round the world kite trip, do ANYTHING but buy a kite shop....just seems like a great way to burn a hole in whole lot of cash FWIW....

Hear about the farmer who won a million dollars in the lotto?

A TV interviewer asked him what he would do with the money.

He replies "I'll just keep farming until it runs out...."

Loftywinds said..

How much would it cost to start one up?

Obviously you'll need a business plan, a loan's process, insurance, registration, etc etc.

I imagine it would be around $50K for starters, and that's just the deposit?

Plus business relationships with suppliers, marketing and advertising to say the least.

Your thoughts?

You could probably put in any amount between 10 grand and a million, but the better question would be what does it take to not only start one but make it a success.
Something like 80% of new small businesses fail within the first 2 years, and within 5 years that jumps to over 90%, thats a very sobering statistic.
I started KP 21 years ago with around 8K, critical factors in my success, were my age, timing, passion, my partner, her passion and committment to support me, our kids, the relationships I built with people like Rob from Ground Zero kites, Bob Dawson (deceased) and Mike Richards (Kite Site/Kite Magic) Chris Robson of Windspeed Kites, Neil Taylor of HTL, Phil and Annie McConachie in the pre kitesurf days - they gave me, support, credit and extended terms, and in Bob Dawson's case, so much more, that it would be hard to describe here. Once kitesurfing started, we had already built up a substantial kitty of stock and experience, but had to reinvest every spare cent we earned from the business. One supplier really helped, Greg Johns from Windgenuity, and then later Best, then Adrian Roper and Undergound and after that Neil Pryde (Cabrinha). All these relationships and suppliers trust in us were crucial, and we have extended that trust and help as much as possible to our team and employees. Some relationships have endured, others have not for various reasons, but all are still remembered with gratitude. Family is still a huge part of our ongoing ability to keep growing, as is the awesome team that we have a symbiotic relationship with!

Have a go, but make sure you have a ton of passion and when the going gets tough, tighten your belt, live on next to nothing and keep smiling and serving!

If you need to ask that sort of question on this forum and haven't done the math IE calculate the cost of stock and other business expenses then perhaps you should look to another profession.

MDSXR6T said..
Then the greedy land lord puts the rent up.

Then the greedy kiteshop puts the price of kites up.

MDSXR6T said..

I think the future is the big boys (ripcurl, billabong shops etc) carrying kiting gear.

i don't see this happening...they're having enough trouble at the moment staying afloat in an industry that they know. They don't want to fuss with a fringe sport like kiting.

kiteshop in a van? buy a cheap van and park up at the windiest place?

Plummet said..

kiteshop in a van? buy a cheap van and park up at the windiest place?

Not exactly uncommon and it definitely doesn't help the retail prices from bigger brands as you start getting the market saturated with crap kites and crap service. Make friends with your local shop and your prices are going to be similar to anywhere else in the world. It's all relative. Coming from North America I can tell you that the cost of living is SO much lower there and so are the earnings. I don't find things (kite gear included) to be RELATIVELY more expensive in this country.

Until you work in a kite shop you really don't understand that there isn't a ton of money being made here. You like to make out as though the shop owners are big bad businessmen trying to rape you for every cent you have and it simply isn't the case. Without bricks and mortar kite shops this sport would still be the back alley industry it used to be with sub par gear, little innovation, and no support!

Drury said..

Plummet said..

kiteshop in a van? buy a cheap van and park up at the windiest place?

You like to make out as though the shop owners are big bad businessmen trying to rape you for every cent you have and it simply isn't the case. !

Well actually I think the exact opposite to this. I think most kite shop owners are dedicated passionate kiters. The downfall to many of them is that they are not businessmen and salesmen.

Plummet said..

Drury said..

Plummet said..

kiteshop in a van? buy a cheap van and park up at the windiest place?

You like to make out as though the shop owners are big bad businessmen trying to rape you for every cent you have and it simply isn't the case. !

Well actually I think the exact opposite to this. I think most kite shop owners are dedicated passionate kiters. The downfall to many of them is that they are not businessmen and salesmen.

I'm going off most everything else I've read from you.

Puetz said..

laurie said..
Hear about the farmer who won a million dollars in the lotto?

A TV interviewer asked him what he would do with the money.

He replies "I'll just keep farming until it runs out...."

... hey,,, eddiemorgs,,,, is that what you would do,,, with your million???

No mate . I would use the million bucks to pay down debt and lease the farm - let someone else take the risk and receive the income .

Then move to Darwin and get a job which allows me to kitesurf by choice .

And then move to Nias Indonesia to work as a volunteer .

And not stay on the farm

eddiemorgs said..

Puetz said..

laurie said..

Hear about the farmer who won a million dollars in the lotto?



A TV interviewer asked him what he would do with the money.



He replies "I'll just keep farming until it runs out...."

... hey,,, eddiemorgs,,,, is that what you would do,,, with your million???

No mate . I would use the million bucks to pay down debt and lease the farm - let someone else take the risk and receive the income .

Then move to Darwin and get a job which allows me to kitesurf by choice .

And then move to Nias Indonesia to work as a volunteer .And not stay on the farm

... teehee, that story sounds familiar. I think you better update your forum profile thingys location then!

Plus you would have to be happy not kiting on the best days as the shop would need to be open

$50k wont even get you in the door on a lease on a place. 'Greedy landlords' are only the next step in the chain of people trying to get ahead in the economic environment they exist in. They are beholden to the greedy banks, who are obliged to their greedy shareholders... who is you if you take 15 mins to jump online and buy some shares.

craggers said..

$50k wont even get you in the door on a lease on a place. 'Greedy landlords' are only the next step in the chain of people trying to get ahead in the economic environment they exist in. They are beholden to the greedy banks, who are obliged to their greedy shareholders... who is you if you take 15 mins to jump online and buy some shares.

" greedy shareholders! " I 'resemble' that remark! G'day Craig ;-)