Should My Shop Sell Used Bows?

Trade-In Discounts

New is nice, but it costs more than what you already own. Some customers save for months to buy a new bow, but many customers simply can’t afford even the more affordable options.

Some archery shops offer trade-in credits for old bows when customers upgrade. Such programs can be a win-win for the shop and customer. Trade-in credits can make new bows more affordable, and help pull customers through your door.

If you plan to sell used bows, you must set strict standards for what you accept. The bow must be in good condition. You could lose money if you must make repairs or replace parts.

Scheels All Sports, for example, awards credits to customers for their old bows. They then use those credits when buying a new bow. Scheels tells customers: “Bring in your bow, and after an inspection to make sure it reaches our quality standards and is in safe working order, we will take it from there.”

Consignment

Sell-by-owner platforms like eBay and Craigslist make it easy to sell used goods. However, some people consider it a hassle to handle calls and sales appointments, which makes consignment operations popular.

When customers consign merchandise, the seller retains ownership but the shop takes responsibility for the sale. Once it’s sold, the seller and shop split the profits based on their pre-sale agreement.

Xpert Archery in Farmington, New Mexico, has sold bows on consignment for nearly a decade. “People are going to buy used bows,” said Jeremy Dugger, owner of Xpert Archery. “If they’re going to buy used bows, I’d rather they buy them from me than from somebody else.”

Store owners must consider several factors to profit from consignments. For instance, they only accept bows they can sell. Even though you’ll earn a cut of the sale price, you’re offering customers alternatives to buying a new bow. Therefore, the percentage you receive on resales must provide a profit for your time spent selling the old bow.

For Xpert Archery, that means keeping 20 percent of the final sale. Its consignment business has been lucrative. In fact, the store expanded its consignment program to accept other gear and products.

As with trade-ins, you must thoroughly inspect the bow before accepting it for consignment. Even though it belongs to the seller, your store’s name and reputation is on the line if something goes wrong. If anything requires work or repairs, inform the bow’s owner. They must cover your costs for repairs or maintenance on the bow before you accept it for consignment.

Therefore, consignments also boost a store’s service business when customers buy new bows. “In most instances, the bow needs new strings, and most bows need tune-ups,” Dugger said. “It created not only the consignment fee we charge, but it also created a lot of extra service work that’s 100 percent profit.”

It can also be important to agree on a consignment timeline. All merchandise has a shelf life, and too much merchandise can hurt sales. Agree on a timeline with the owner for discounting the bow further, and eventually taking it off the shelves if it doesn’t sell.