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Taking Over Or Starting A Trophy Business
Although the world is going digital all around us, there are some things that cannot truly be replaced by a digital counterpart, and the trophy retail business is an example of such a business. Trophies for sporting, academic and business excellence are a traditional constant in Western society and they continue to be used as in the past. People thinking of entering the trophy business must establish or acquire a reliable customer base consisting of academic organizations, sports clubs and businesses, to whom they offer and register their annual or occasional prizes.
Promoting the business through advertising will help build the existing customer base and attract new customers from the general public for items such as christening mugs, 21st glasses and wedding and anniversary plaques. In the past, trophy businesses offered simple plaques, medals and figurine trophies, but advanced technologies have allowed the introduction of innovative award ideas that include crystal, marble, glass, wood and composites, offering a wider range of options for customers and including environmentally friendly. Materials. There are a few sides you can include such as display cases and a design service. You can have display cases built to customer specifications, for single awards or collections of awards. Table prizes, modeled as business card holders or stationary boxes are examples of side additions that can be marketed in the business world and also sold online. Always keep a good range of items on display in your shop for customers who need a trophy or prize today.
Sports clubs are one of the main buyers of cups, trophies and plaques for awards, so it’s a good idea to contact all local sports clubs in your area when you take over your business, letting them know that the business is now in new hands . Annual meetings with existing customers are recommended to keep up with changing trends, giving the business the opportunity to introduce new lines and advertise specials.
Any trophy business must have reliable suppliers, so you should do extensive research to find some wholesalers to supply your customers with the products you want to market. A wide range of choices is always attractive to potential buyers, regardless of the market you’re catering to, so make sure you find wholesalers with quality merchandise and a reliable delivery service.
A trophy business usually involves an engraving and engraving machine which is fully computerized and can handle a variety of font styles and sizes and requires no special design skills. Available fonts and styles can be printed on paper for in-store display and on your brochures. A display of available trophies is also important in both catalog form and shelf examples. Trophies and plaques should be available in budget designs as well as higher quality designs in order to serve the needs of a variety of budgets. Gold and silver plated products should always be available providing that high quality choice.
Every Trophy store should have a companion website to compliment the look of the store and attract business from other parts of the country. The website should be maintained and kept up to date in order to help the business move with the times and should ideally include a blog for SEO purposes. If there is an existing website for the business you are looking at, this should be given a fresh look so customers can see that the business has changed hands. Letterbox brochures can also be a good way to let the community know that you have taken over the business, and additional advertising in local newspapers is another way to promote your business.
Include a few product lines that will make your trophy business stand out and give the business individuality. This may need some imagination and an element of risk, but let’s face it all business requires an element of risk to succeed. Choosing a collectible that interests you will personalize your store and also produce another line of business to promote. Because a trophy shop sells awards for excellence, its reputation for excellence must also be realized.
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