Susan Smith, Staff Reporter
John Giscombe, managing director of Giscombe Sports Warehouse. - CARLINGTON WILMOT/FREELANCE PHOTOGRAPHER
"SPORTS IS no longer a hobby, it is a profession," says John Giscombe, managing director of Giscombe Sports Warehouse, who has been serving this professional need since 1988.
Retailer and manufacturer of gymnastic equipment and sports goods for one of the largest sports stores in Jamaica, Mr. Giscombe observed that the sports retail business has tripled in size in the last 10 years, largely because of the growing need of athletes and individuals to compete more effectively and keep fit.
Charting the evolution of sports into a retail industry, he said his fascination with sports and body building in particular started in first form at St. George's College.
He was initially intrigued with the manner in which the bigger boys were able to lift huge barbells and so became involved in body building. By the time he had reached third form, he had become known in the school for his strength. As his interest grew in sports, he started a gymnasium in his backyard and got involved with weight lifting clubs.
INVOLVEMENT IN SPORTS
In 1988, Mr. Giscombe resigned his job as a credit officer at Bank of Nova Scotia Jamaica to focus on Giscombe Sports, which he started at 14c Cargill Avenue in St Andrew.
He also did a course in welding at the University of Technology, then the College of Arts Science and Technology, in order to make his own products. He started with playground and custom designed gym equipment.
The demand increased rapidly and his business expanded from the original two members of staff to 15 members and relocated to Kings Plaza where the first Giscombe Sports Warehouse was set up. The business subsequently outgrew the Kings Plaza location, forcing him to shift to Premier Plaza.
SERVICE
Giscombe Sports now supplies its clients with over 2,000 different types of sports goods. He said his company is the sole manufacturer of playground, basketball and gym equipment in Jamaica.
The company also has contracts with various bodies including being the sole distributors of Everlast boxing equipment and the 'Converse' brand which is expanding into clothing since being purchased by Nike.
His company also repairs broken gym equipment.
SUCCESS
He attributes the success and growth of his business to women and the fashion industry.
"Jamaicans are very conscious about brand names," he said. "We have tried no-name brands into our stores and people just did not buy them."
In one case, he was left with a host of cheaper bags while the Jan-sports bags, which were five times more expensive, were all sold off.
"For business to be good one needs to have the right balance of products to encourage daily purchases." Most of his revenues come from the sale of sporting gears while 10 per cent comes from sales of gym equipment which is manufactured locally.
Christmas is period of the highest sales for the retail sports business and a new craze for high tech toys for males of all ages has stormed the market, said Mr. Giscombe.
The athletics season for youngsters is also another high sales period for the store. His marketing strategy is quite simple. The company visits schools and other places to make potential clients aware of the products.
CHALLENGES
But the business can be a risky one. "We import a lot of equipment which is popular, but if you don't choose the right equipment it doesn't sell and you lose money," he said. "Timing is very important because if the popularity declines you can end up losing."
Another challenge in business is that sporting goods now attract General Consumption Tax, which cuts the purchasing power of consumers. Furthermore, exercise equipment is expensive to import because of its weight.
EXPANSION
"I have to keep abreast of the changes in sports," he said. Apart from more offices getting into the installation of their own gyms, he said new exercise equipment such as the medicine ball and the gym ball are now becoming increasingly popular.
Rugby is a sport which is also rapidly gaining popularity in Jamaica.
Mr. Giscombe said there is scope for expansion in the business across Jamaica. He is encouraging persons in other parishes to open their own sports stores as his company also operates as a wholesaler to supply them.
Taken from the Financial Gleaner, Friday, November 4, 2005
