Lakeside water ski and wakeboard shop

Cottagers, local families, boat owners, summer visitors and young riders who want proper gear and advice before the weekend.

Margin on gear and accessories sold in store. Extras such as repairs, used gear consignment and rentals can add income in a short, busy summer season.

• Knowing water sports gear and what suits different riders
• Friendly, patient customer service
• Stock buying and cash flow planning

• Strong seasonality, so plan how you will cover rent and costs through the off-season
• Commercial general liability insurance and product liability cover for sports gear
• Check Transport Canada requirements for life jackets and other safety gear you sell
• Check your municipality for a business licence and zoning, and your province for sales tax rules
• In Quebec, check French-language rules for signage and customer service
• Stock tied up in unsold gear at season end

Startup costs are typically estimated at around $30,000 to $120,000, depending on premises, stock levels and how much gear you carry. Unsold gear at the end of the season can tie up cash, so plan your buying carefully.

Monthly revenue is typically estimated at around $8,000 to $40,000, depending on location, season and stock. Sales are strongly seasonal, so plan how you will cover rent and other costs through the off-season.

Check commercial general liability and product liability insurance, Transport Canada requirements for life jackets and other safety gear, and your municipality's business licence and zoning. Also check provincial sales tax rules, and French-language rules if you open in Quebec.