Trophies and awards distributors offer ways to recognize people and enhance their self-esteem.
Selling trophies and awards is a positive business serving diverse members of the local community. A minimal inventory and presentation book will display available plaques, trophies, and engravings to spark ideas among potential customers. Include pictures of smiling award and trophy recipients to reinforce the benefits of individual recognition.
Instructions
1. Research available trophies and awards for the local market to determine how many stores are currently operating in the vicinity and to discover what needs are not being fulfilled. Ask an owner of a long-established trophy or award store if they are interested in selling their business or hiring an outside sales person who could purchase the business through developing new accounts.
2. Earn certification through an industry association like the Awards and Recognition Association, www.ara.org, that hosts an annual trade show and offers audio resources. Enroll in the certification program to remain on top of current industry trends and earn continuing education awards throughout the year.
3. Select a physical location close to steady car traffic and other local businesses that generate foot traffic like nail salons, coffee shops, and office supply stores. Choose an interior space that has enough room for three or four presentation cases up to five feet high and six feet wide. "Be as precise as possible regarding your minimum and maximum space requirements," advise Janet Portman and Fred Steingold, author of Leasing Space for Your Small Business because unused space becomes an unnecessary expense.
4. Obtain proper licenses from the city for operating a storefront and choose a corporate structure like a LLC and register with the federal government. Purchase a liability insurance policy for a million dollars. Purchase insurance to cover theft.
5. Trophies and awards can have many distinct looks
Open a trophy or award business with a minimal inventory since "there are suppliers in or near almost every major market in the US," said Mike May of trophy supplier JDS Industries in Sioux Falls, South Dakota. "Sell products through brochures, displays and the Internet, then order the components you need from your favorite supplier."
6. Market the products aggressively. "Develop a website, like supplier-provided sites available at no charge, that you can use to create a professional and effective web presence," said May. "Advertise by email, call on local leagues, businesses, churches, fraternal organizations and government agencies, and create an attractive showroom. Do everything you can to gain exposure for your products and services."
Tags: minimal inventory, Trophies awards, trophies awards, trophy award