Starting Your Own Store Store
Background About This Type of Business
If you’re looking for a retail opportunity and have a passion for shoes, then becoming a business owner providing shoes is an opportunity worth looking into. There is profit in retail shoes. You just need to set up your shop correctly, price your products, choose a target market, and do what it takes to succeed.
In this post, you’ll find a large collection of resources that will give you the information you need to get started. You’ll also find a lot of resources that can help you once you’re up and running.
You need to take the time to go through all the information contained in this post. By the time you’re finished, you’ll have a lot of knowledge regarding the shoe industry, and you’ll be able to decide whether you want to move forward with starting your own shoe store.
Is This What You Want to Do?
One key to succeeding in any business is loving what you do while being dedicated. It’s not easy to get started and to make your business a success. If you’re dedicated and passionate about your business, you’ll be able to give it your best. You’ll look for solutions to problems when they emerge instead of looking for a way out.
Do you Have The Necessary Skills?
Do you have the skills to run a retail establishment? Do you have sales skills and people skills? If you’re the one dealing with customers, you need to be able to make sales.
The good news is you can pick up the skills you need to run your business and make sales. This post offers resources to help you get your management skills up to par. You’ll also find a section on selling shoes.
Getting Inside Information
If you want to gain the secrets of running a shoe store, this technique may help. The big idea is to find shoe stores for sale and contact those business owners that want to sell and ask questions. You’ll explore these businesses’ profitability, see the different types of setups, get inside information, and more. You’ll be able to get the answers, based on experience, for many of the questions you have about this industry.
This technique has two benefits:
One: You get inside information from qualified people.
Two: While you’re looking at businesses for sale, you may find one that makes sense to you, and you may end up buying a business and be up and running while making sales the day you take over.,
For more on this method see, An Inside Look Into The Business You’re Considering.
Key Issues to Focus on With This Type of Business
What Type of Shoe Store Will You Open
You need to decide on what type of shoes you’ll offer.
Will you be selling shoes for women, men, kids, or will you offer shoes for the family? Or you may be thinking of specializing in athletic shoes or shoes for work?
Naturally, it’s important to identify the products you’re going to offer. When you specialize in something, it’s easier to identify your target audience than marketing your products to everyone.
Will you offer your shoes from a storefront, or are you planning to sell your products online? Or will you have a mix of both?
Competition
If you’re planning to start a store, you need to do some research to identify your products’ demand. If there is no demand, then it doesn’t make any sense to open in the area.
If you discover there are many shoe stores, you may be dealing with a saturated market. With a saturated market, you have to bring something to the market that is different, missing, or better than what exists, and you need to promote it!
The ideal situation is to find an area with demand, where the market is not saturated.
Can You afford it?
Can you afford to start a shoe store? If you’re planning on a brick and mortar store, you’ll need to stock inventory, which will be a large part of your investment. You have to understand you’ll need multiple styles, and each style has multiple sizes and colors. You may need to stock 15-20 pairs for one shoe style because of the sizes and color.
Consider if you only had 30 styles, you would need to stock approximately 600 pairs of shoes to cover sizes and colors, and that’s only one of each; lets’ say you sell a size 6, in black, you’re out of stock. If another customer wants the same shoe, you don’t have it. If you needed to stock 5 pairs of each, now your inventory has jumped 3,000 pairs for the 30 styles you offer. So from the examples, we went over, you can see how you’re stock can cost you well over $100,000.
Another direction to take is to operate your business online. You can set up a website and use drop shippers to ship the products to your customer as if they were shipping from you. This benefits you because you don’t have to keep the shoes in stock and only ship what sells.
See our page on opening a drop shipping business for more on this concept.
Your startup cost will depend on which route you take, will you carry stock or use a dropshipping method. Will you open a store, or will you operate strictly online. Once you have a plan in place, you’ll be able to estimate your startup costs.
Insurance
If you’re opening a store, you’ll want to make sure you have insurance the minute you take possession of your store. Don’t wait until the grand opening. You need insurance now because there could be an accident or a fire before you open, and you’re responsible.
Talk to an experienced insurance broker that can get you the coverage you need. You might want to ask about interruption insurance, which covers revenue loss if your business closes due to a fire or accident and needs repairs that can take time. See the resource section in this post for companies that offer insurance for shoe retailers.
Add-ons
Are you planning on only offering shoes, or do you plan to offer accessories with your shoes? You can offer matching belts, purses, as well as products that go with shoes. You could also offer a jewelry section and various scarfs to allow a customer to match or accent the shoes they buy.
Getting the Word Out and Getting Customers
You’ll need a budget to advertise your business. Successful advertising campaigns are hard to come by. The key is to start small and test and track results. Do more of what works and stop using those techniques that don’t work.
For advertising locally, see our page on Free and Low-Cost Local Advertising Strategies.
Also, have a look at This Collection of Free Advertising Ideas For Small Business.
If you plan on taking out newspaper ads, see our collection of tips in our post Secrets to Newspaper Advertising.
You can use Google ads or advertise on Facebook to get the word out; see How to Advertise on Facebook With a Limited Budget.
Another method of advertising is the good old radio. See Here’s What You’ll Want to Know About Radio Advertising.
You could contact local clothing retailers and offer to send your customers looking for clothing to them. In return, they refer customers interested in shoes to your store. You could even carry each other’s business cards on at the sales counters.
You can sponsor local fashion shows or other events such as local concerts, plays, talent shows, etc. You can supply the performers’ shoes and exchange you’ll get a sign plus an announcement that your business provided the shoes for today’s event.
You can also sponsor local sports teams to get the word out about your business.
You can create a blog and create articles to bring awareness to your business. For more on blogging, see How to Start a Successful Blog.
Keep in mind all the money you spend on advertising is a tax deduction. So you want to be sure to track all advertising expenses so when tax time comes around, you claim these expenses.
Next – Reources
Now it’s time for the resources mentioned throughout the article. You’ll find hundreds of resources related to the shoe industry and starting a shoe store. Everything is located in this post, and each is just a click or tap away.
The benefit of having access to such a collection is you get a broad overview because each article is provided by different authors.
You can come back to this post anytime you need the resources.
How to Start a Shoe Store
How to start up a shoe shop | Start Up Donut
How to Start a Shoe Store Business | Small Business – Chron.com
How to Start a Shoe Store – StartingYourBusiness.com
How to Start an Online Shoe Store Business With No Money | ProfitableVenture
Case Study: How to Start and Grow a Successful Online Shoe Shop – Foxy Monkey
How to Start a Shoe Store Business – Legitsmallbusiness
How to Sell Shoes Online – Start a Shoe Business | Shopygen
What to Consider Before You Start
Reasons for Getting Into Your Own Business
The Pros and Cons of Owning Your Own Business
10 Questions You Must Ask Before Starting a Business
Passion – An Important Key You Need to Succeed in Business
Steps and Considerations
Over 21 Steps and Considerations When Starting Your Business
Getting Inside Information
An Inside Look Into The Business You’re Considering
A Simple Guide To Starting A Business
How to Start A Business – Making a Complex Topic Simple
How to Finance Your Business
How to Finance a Footwear Retail Business | Small Business – Chron.com
Shoe Store Loans: Financing For Footwear Companies & Retailers – GUD Capital
Everything You Need To Know About Business Loans
How To Register a Business
How to Register Your Business Using These Resources
What License or Permit Do You Need to Have a Shoe Retail Store? | Bizfluent
Retail Business Licenses and Permits
Shoe Store Name Ideas
Selecting a Good Name for Your Business
500+ Unique Shoe Store Name Ideas for You – NameCampaign
Shoe Store Names: 400+ Cool Names for Shoe Brands
301 Cute and Creative Shoe Store Names – BrandonGaille.com
1,000+ Shoe Brand Name Ideas + Availability Check
366+ Best Shoe store Name ideas Ever – theBrandBoy.com
Business Plan
How to Write a Business Plan Using This Unique Collection of Resources
Women’s Shoe Store Business Plan – Executive Summary
How to Create Your Own Shoe Line’s Business Plan | Small Business – Chron.com
Writing an Online Shoe Store Business Plan [Sample Template] | ProfitableVenture
Women’s Shoe Store Sample Marketing Plan – Marketing Strategy – Mplans
Shoe Company Marketing Plan by Ruchika Patel
Here’s Where You Can Find Retail Business Plans
Trends and Statistics
Shoe Stores in the US – Industry Data, Trends, Stats | IBISWorld
U.S. footwear market – Statistics & Facts | Statista
Monthly shoe store sales U.S. 2020 | Statista
2020 Shoe Stores Industry Statistics & Market Research Report – AnythingResearch
Profitability and Revenue
Estimating the Profitability and Revenue for a New Business
Profit Margin for Retail Stores for Running Shoes | Small Business – Chron.com
How Shoe Store Is A Profitable Business Idea In Retail – RetailBugs
Startup and Operating Costs
Estimating Startup Costs – Are You Missing Anything?
How Much It Cost to Open a Shoe Store | ProfitableVenture
Equipment
Essential Office Equipment You May Need to Run Your Business
Starting a Shoe Stores Equipment & Supplies Business
Inventory
How to Estimate Retail Inventory Start-Up Costs
Supplies Needed for a Shoe Business | Bizfluent
Shoe Suppliers
Top Private Label Shoe Manufacturers, Suppliers, and Companies
Where can I find a good shoe supplier? – Quora
Wholesale Shoes & Footwear Directory
Wholesale Shoe Suppliers: How to Resell Cheap Shoes in Bulk | SaleHoo
20 Best Wholesale Shoes Manufacturers & Suppliers in China/UK/USA
Insurance
Here’s Everything You Need To Know About Business Insurance
What Insurance Does a Shoe Store Need?
Shoe Store Insurance – Cost & Coverage (2020)
Business Insurance for Shoe Stores
Shoe Store Insurance | Match with an Agent | Trusted Choice
4 Reasons Shoe Stores Need Business Insurance | CoverHound
Employee Considerations
The Pros and Cons of Running a One-Person Business
How and When to Hire a New Employee
Common Jobs Needed for Running a Business
Hiring an Employee VS Subcontracting
Business Cards
How to Design Business Cards That Draw Attention
Shoe store Business Card Templates | BizCardStudio
Latest Image Search Results Related to Shoe Store cards
Logo
How to Create an Impressive Logo
Shoe Logos: the Best Shoe Logo Images | 99designs
Shoe Store Logos | 233 Custom Shoe Store Logo Designs
Shoe Logos | Shoe Logo Maker | BrandCrowd
Free Shoes Logo Designs | DesignEvo Logo Maker
Latest Image Search Results Related to Shoe Store Logos
Software
Best Shoe Store Software – 2020 Reviews, Pricing & Demos
4 Best Shoe Store POS Systems | Sell More with Software
Solemate Reviews and Pricing – 2020
Best Retail Management Systems 2020 | Reviews of the Most Popular Tools & Systems
Shoe Store POS | POS for Shoe Store | Point of Sale for Shoe Store
Business For Sale
Buy A Business or Build one From Scratch?
An Inside Look Into The Business You’re Considering
Shoe Shops For Sale in the US, 20 Available To Buy Now
Shoe Store for Sale | Buy Shoe Stores at BizQuest
Shoe Stores For Sale, 19 Available Worldwide
Shoe Stores for Sale, Shoe Shops for Sale & Shoe Business for Sale – Buy Sell Shoe Store for Sale
Latest Search Results Related to Shoe Store For Sale
Franchise Opportunities
The Ins and Outs of Owning A Franchise
Footwear Franchise Opportunities Guide
Shoe Store Franchises Franchises for Sale | FranchiseClique.com
What is shoe franchising and how to effectively operate a franchise?
Established Shoe Store
The 10 Best Online Shoe Stores – Improb
Best online Shoe Stores 2020 | Top Ten Reviews
Shoe Stores – List of Chains and Online Retailers
Shoe Stores Companies | List of Top Shoe Stores Firms
Marketing Tips
Marketing Techniques for the Shoe Industry | Small Business – Chron.com
Footwear Marketing Agencies: What They Do
17 Retail Marketing Ideas For Shoe Stores | Dimensional Business Solutions
24+ Actionable Shoe Store Marketing Ideas – theBrandBoy.Com
TOP 5 Marketing Ideas for Online Shoe Retailers
How to Position your Shoe Brand in 2020? | Fashion Marketing Agency
Top 5 Tips for Footwear Marketing
Marketing your Shoe Line | Italian Shoe Factory
Improve Your Sales Skills
How to Sell Shoes (with Pictures) – wikiHow
How to Pitch Sales in the Shoe Business | Small Business – Chron.com
10 Things Shoe Stores Can Do To Boost Sales – Footwear News
How to Improve Your Sales Skills, Even If You’re Not a Salesperson
Improve Your Sales Skills and Become a Great Salesperson
How To Sell More Footwear and Keep More Customers – SNEWS
Shoe SalesmanSkills and Knowledge
12 Steps to Improve Retail Sales
Retail Sales Associate Training: 11 Ways To Get Better At Selling
15 Best Retail Skills for Sales Associates & How To Develop Them
25 Simple Customer Service Tips All Retailers Should Try
Article Mix
Use These Resources to Become a Retail Store Manager
Here’s a Checklist You Can Use to Setup Your Retail Store
Five Retail Sales Training Tips From Selling Shoes
What Does It Take To Run a Successful Footwear Business Today? – Footwear News
7 Challenges in online shoe retail – Arema Connect
The challenges of footwear retail
Running Shoes: the 9 Biggest Problems with a Traditional Style
About Being an Owner of a Shoe Store | Small Business – Chron.com
8 Shoe Stores That Went Out of Business in the 2010s – Footwear News
Where did Payless go wrong? – RetailWire
Valuable Lessons Learned From the Closing of Payless Shoes | Inc.com
Designer Shoe Brands at Neiman Marcus
The Best Designer Shoes To Buy – Chanel, Gucci, Balenciaga, Chloe
Running a Business
How to Run a Business – A Quick Look Into Skills You’ll Need
Publications
Top 90 Shoe Blogs, Websites & Influencers in 2020
Top 50 Footwear Websites, Blogs & Influencers in 2020
Top 10 Shoe Blogs and Instagram Accounts to Follow | Shoe Zone Blog
Top 10 Shoe Blogs on the Internet Today | Shoe Websites
10 Shoe-Lovers You Should be Following on IG | Solemates
Your Next Shoes – Celebrity & Designer Shoe Blog
Top 15 Men’s Shoes Blogs And Websites for Men in 2020
Top 50 Footwear Websites, Blogs & Influencers in 2020
Top 10 Shoe Blogs and Instagram Accounts to Follow | Shoe Zone Blog
ShoeTease Shoe Blog – Advice Blog for Shoe Lovers – What to Wear with Heels
Top 10 Shoe Blogs on the Internet Today | Shoe Websites
Designer Shoes – Best Heels, Boots, Sandals, Pumps, Flats and More
Terminology
Shoe Terminology – A Curated Man
Glossary of Shoe Terms | C&E Fashions
Books
Books from Amazon Related to Shoe Stores
Google Book Search Related to Starting a Shoe Store
The Latest about Starting a Shoe Store
Google Searches
Latest Search Results Related to Starting a Shoe Store
Latest Scholar Search Results Related to Starting a Shoe Store
Latest Image Search Results Related to Starting a Shoe Store
News
Latest News Related to Starting a Shoe Store
Tweets Related to Starting a Shoe Store
YouTube
Videos Related to Starting a Shoe Store