Checklist For Opening Your Own Dive Shop

2009-09-17T03:22:00.000-07:00

Checklist For Opening Your Own Dive Shop

You love scuba diving and have decided you really would like to pursue turning your passion into a thriving business. There is so much to do, where do you start?

Hopefully you have already determined you have either basic business knowledge or have taken the time to find out what it takes to start a business. Now you need to know the tasks specific to opening a dive shop. Seasoned dive operators contributed to this checklist for opening a dive shop. Dive operators give an estimated timeline of one year to allow adequate preparation prior to opening your dive shop.

One Year Prior to Opening Your Dive Shop

· If you have not formalized a business plan, now is the time to do so. Part of formulating a dive shop business plan is gathering information on start up costs. You should get a general idea of the capital you will need for starting your dive shop. Some dive operators caution you to add at least 25% to that figure to cover unforeseen expenses.

· You will need a thorough knowledge of federal and state regulations regarding safety rules and regulations for a scuba dive shop.

· Look for property for your dive shop. You will need to determine if you will have your own dive shop, where you will deal out of.

· Decide on a business name for your dive shop. Choose a couple of alternatives (in case the first name is not available or a similar name is in use by an existing dive operator in your geographical area). Once you have your name(s) narrowed down, register it.

· Contact the proper authorities and ask how long time is required to obtain the necessary business (and building if applicable) permits. You may need permits specific to scuba dive operators and shops.

· Make a final decision on your dive shop location.

· Begin seeking out additional funding sources if you will need to borrow part of your start up money.

Nine Months Prior to Opening Your Dive Shop

· Get a written commitment from your funding source for startup monies.

· Apply and obtain permits and licenses (local, state, industry)

· Assemble a team of consultants and professional you will need such as an attorney, accountant, banker if applicable, business advisor and other dive operators. Make contact with these people, in person if possible. These will be your mentors and go to people when you need assistance.

· Subscribe to local trade journals and newspapers. You will be contacting these for advertising and press releases before opening your dive shop. Some of these venues may be willing to do a piece about your dive shop opening (sometimes free of charge).

· Attend trade shows and develop a network of equipment providers for your dive shop.

· Become acquainted with industry (dive) organizations and other community groups (such as chamber of commerce) that will give you contacts to build your business. You should become an active business member of the community you are located in.

Six Months Prior To Opening Your Dive Shop

· Sign lease or purchase your business location

· Locate your desired diving spots.

· Contact your equipment sales representatives and order equipment and gear. Make sure all of these have inspection guarantees.

· Obtain insurance for your business. Dive operators find it beneficial to do deal with someone who is familiar with the scuba diving industry.

3 Months Prior To Opening Your Dive Shop

· Consult your business plans for updating and to make sure you are on budget.

· Prepare a marketing plan including advertisements, website development.

· Order business cards, company letterhead, etc.

· Prepare your final budget for the year following opening.

· Obtain a merchants account and equipment for accepting credit card purchases.

· Plan your grand opening. Get the information to your local newspapers and trade journals.

· Consult your mentor team for input and suggestions.

· Contact all the organizations you have previously made contact with and let them know when you will be opening.

· Finalize building, equipment and supplies.

· Interview and hire employees.

When you get to this point you should be finalizing details, training employees and making sure everything is in order for opening. All those last minute details come into play now.

This list is based on the premise that you are opening a brand new dive shop. You can purchase an existing dive shop if this seems overwhelming. Dive operators may not advertise their business for sale publicly, but may be willing to discuss a sale if it means their dive shop dream is passed on to a passionate diver who is willing to carry it on.

Opening a dive shop is not easy and definitely not for the faint of heart, but the rewards can be well worth the investment.

Dive Shops

Checklist For Opening Your Own Dive Shop