business backgrounder | industry
About 50 percent of all Americans participated
in outdoor recreation of some kind in 2010.
sporting goods category, so Farwest can also justify
acquiring many different categories of products.
Ultimately the wholesale operation supports the
company’s ability to carry many products in the same
category and in turn, offer many categories of different
products. This shows up to consumers on the retail
side as an amazing breadth and depth of more than
80,000 products that, for example, can easily give a
person looking for a size six fish hook 20 competitively
priced choices.
“It’s the selection of products they have here, and I
tend to need unique products,” said Sportco customer
Gary Nakamura while shopping for firearms accessories.
The fastest growing sports in 2010 were
triathloning, board sailing and kayaking.
after the great recession
While many small businesses still struggle, Farwest
has boomed with its best years on record coming in
2010 and 2011.
“We’ve always considered that we’re a little bit
recession proof even with unemployment and everything because if you’re out of work, you might still go
fishing,” said Schmidt.
In fact, business is so good, Farwest plans to add
another 30,000 square feet of retail space into Sportco
and Outdoor Emporium in 2012. Schmidt says the first
quarter is already looking strong and that their sales are
still increasing in double-digit figures.
With all the new sporting goods-related retail space
in the region, the growth even surprises Schmidt. “I’m
kind of amazed that it doesn’t level off a little bit more,”
he said.
But the company didn’t just sail through the recession like it never happened. In 2008, Farwest reduced
inventory, paid off its creditors and froze wages and
benefits. “We did some things I never had to do in 20
or 30 years,” Schmidt said. But now his employees are
sharing in the company’s recent success with larger
than normal raises.
“I always thought I need to pay them good, I need
to surround myself with good people that can complement me or be strong where I’m not strong,” he said.
The most popular team sports are
basketball, football and soccer.
The top three outdoor activities by participation
are running, fishing and biking.
Source: The Outdoor Foundation —
Outdoor Recreation Participation Report 2011
winter 2012 47