Boxing or Muay Thai (Thai Boxing) is the most popular national sport in Thailand. It is estimated that more than 200,000 children in Thailand practice Muay Thai. Likewise, more than 10,000 children under the age of 15 have registered with the Thai Boxing Board. Today, Muay Thai has spread in the global sports space. Sports associations like ONE Championship have increased the popularity and reach of this traditional Thai sport.
Considering this widespread craze of Thai Boxing, we can conclude that a boxing gear business has great market potential in Thailand. If you can understand your location and markets, you can make this business highly profitable. Your primary customers will be the competitors and spectators. Likewise, you can sell merchandise from popular athletes or general gear and equipment. Before you set out to buy or build a boxing gear business, you must keep track of the following things:
Understand Your Market Well
The first thing you need to do before thinking about setting up a business is understanding the markets. First, find out if your business location is suitable to attract customers. If you are located at a place with a higher number of young people and more schools, you are likely to find regular customers. Likewise, statistics show that people from 35 to 44 years of age are more likely to be involved in sports and outdoors compared to other age groups. Keep all these things in mind but don’t overstress or your business simply won’t take off.
Define Your Business Structure
After you have done your research and the results seem promising, you will want to get into actually building or owning a business. You must understand that there are a lot of liabilities to keep track of. Furthermore, boxing is a dangerous sport with possibilities of fatal and life-threatening injuries. Sometimes, lawsuits may come your way in case your equipment causes harm or fails to prevent them. We advise you to consult a lawyer so that you are well aware of all the possible consequences.
Determine What You Need
As a gear supplier, you need to keep track of all the important things you need. First, you will need a store and storage facility where your goods will be sold and stored. Gloves, shorts, mouth guards, ankle guards, shin guards, clothes, and punching bags are some of the most common items. Likewise, utility bills, store employees, and marketing are likely to be the major costs after the actual goods.
Buy and Sell Sporting Goods Store Business With a Reliable Platform
If you want to buy and sell business related to sports in Thailand, we advise you to consult with a specialist business buy and sell firm. Easy Buy Sell Business Thailand is a highly reputed business for sales platform with unmatched experience in buying and selling multiple types of sports businesses. This includes sports retails, marketing agencies, blogs and media, sporting facilities, and gyms. They have a close understanding of the Thailand business for sale 2020 climate and hence can provide the best deals in a shorter period of time.