How to Start a Business Selling Sneakers: Resources Included
November 23, 2020 419 views
This post offers a unique collection of over 100 handpicked resources related to starting and running a business selling sneakers. The resources are provided by various authors, benefiting you because you’ll get a broad summary of the sneaker sales industry.
Before you get to the resource section, let’s go over a few considerations for you to review.
Background About This Type of Business
The demand for sneakers is strong and desirable. I see it as two categories, collectibles, and everyday use.
Certain athletes and their shoes drive the collectible and limited edition market. There is also a market for shoes where an athlete has a hand in designing their own shoe brands.
What Type of Person Is Suited for This Kind of Opportunity
Anyone with an entrepreneurial spirit interested in the sneaker market has a chance of succeeding.
With any business you’re getting into, you’ll need one important trait, and that trait is a passion for the business you’re running.
I can tell you from experience there will be good times and bad times. During those challenging times, if you’re not passionate about your business, you’ll be looking for ways to get out of it instead of looking for solutions to the problems.
Even though there is a growing demand for the sneaker market, you need to determine if there is enough demand in the area your planning to locate your store.
If there is no demand, it doesn’t make any sense to open a store. You may need to shift your focus to online sales only or locate in a different area.
If there are too many stores in the area, you could be dealing with a saturated market. Tapping into a saturated market requires you to do something better or bring something new and desirable. For more on this topic, see – What Is the Demand for Your Products and Services.
There are a few considerations when it comes to the set up of your business. Let’s go over some main considerations to review.
What Type of Market Will You Target?
It would help if you determined what type o market you’ll be going after. Will you focus on a certain brand of athletic shoes? Will you go after the collectible market, or will you focus on shoes for the whole family?
In my experience, it’s best to identify your strategy so you’ll have a better chance at advertising. When you advertise to everyone, it’s difficult to hone in on key selling points. When you know the type of people you’ll be targeting; you can appeal to their desires.
Will You Run Your Business Online, or Are You Planning on a Storefront?
This is the type of operation that can be run online or as a brick and mortar business. You may even want a combination of a store with an online presence, which is common for many shoe store owners.
Will You Operate From Home or a Commercial Location?
If you plan to take the route of dealing with collectible sneakers, you can run this business from your home and online. If you plan on a store, then it makes sense to open from a commercial location.
If you plan to have inventory and a store, you will need to have insurance to protect your customers, store, and inventory. There is a section in the resources that includes insurance companies that deal with insurance for shoe businesses.
Getting the Word Out and Getting Customers
It’s not enough to just open and expect customers to rush through your doors. You need to get the word out about your business. The following are a few ideas you can use. There is also a section for marketing in the resources where you’ll find more tips and ideas.
Conventional Advertising Methods
You can use conventional advertising methods like advertising in your local newspaper, local radio shows, cable TV, etc. Have a look at these Local Advertising ideas for more.
You could start a weekly newsletter from your website where you offer tips on the latest styles and notify people of any sales that come up. The key to a successful newsletter is offering value to your subscribers. Without offering something of value, it won’t be easy to keep subscribers.
One idea to consider is that if you are dealing with collectibles, become the expert, participate online in groups and on social media. Once you have a decent following, you should be able to post new collectibles you have acquired and many times be able to make quick sales.
Next – The Resources
As mentioned earlier and throughout the post, you’ll find the resource section below. There is a lot of information from various sources. The good news is you can come back anytime you need them. For now, browse through the sections to see what stands out for you.
A Collection of Resources Related to Starting a Business Selling Sneakers
Disclaimer: Information on this site is intended for educational purposes. The publisher and authors are not liable for any damages or losses associated with the information contained on this website.
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