Business idea # 18: Shoe store
Shoes store is classical business, especially suitable for countries with clearly defined seasons. In majority of places there are at least two – winter and summer, while in other place you may easily divide weather for winter, summer and mid-season, which means selling of new collections of shoes. Although this business seems to be relatively easy to run there is a number of difficulties, which are important to know before you make a decision to run the store. One of them is quite valuable initial investments: from $30’000 to $100’000 dollars, which are based mainly on production purchasing costs, design and equipment of shop and leasing payments. But I would like to oultline some other sides of this business.
The process of running the shoe store starts with finding a supplier. This step offers you few options: manufacturer, wholesale supplier or franchisor. Generally speaking, franchising is more convenient for shop owners due to franchisor advising and marketing programs for its franchisee. Besides, in addition to production supply franchisor usually provides its partners with basic business planning tips, shop design conception, merchandizing techniques, logistics, sales personnel training and other expert data. However, if you’ve decided to develop your shop according to your own conception or make a multi-brand store you will need to take care of mentioned sides of your business by your self. By the way, when planning your purchasing process pay attention to common way of shops purchasing. Idea is simple: some sizes are more popular then others, while others are too big or small for middle customer. Normally manufacturer packs 8 pairs of shoes of the same model in one box. Such boxes contain 2 pairs of one of the most popular sizes, another two pairs of another one popular size, while each other pair has various less demanded sizes. Such a way of wholesaling the shoes makes you to buy a minimum of eight pairs of any model. It means that if your shop offers 50 models of shoes you have to purchase at least 400 production units.
Once you’ve found appropriate shoe supplier think over a location of your shop. Experienced shoe shop owners are agree that the most suitable place for shoe selling are in the popular shopping centers. Though the leasing prices in such malls are high, it’s covered by intensive visitors’ flow, while shops with separate entrance from the street will be found by potential buyers only during a time.
Another advice of shoe sellers is to launch your business prior to winter or autumn seasons, as at these periods sales are traditionally high, which means that your investments will be returned faster. By the way, normally investment in retail shops returning takes from …. To … months with average retail markup of 100%.
Marketing in shoe business is quite traditional. But one of most important components of shoe store marketing strategy is using of aroma marketing. Smell of genuine leather will improve your sales significantly. Another important things are comfortable fitting and waiting zones in order to make customers and their partners or friends to stay in your shops for as long as possible and even to have a rest.
Shoes store is classical business, especially suitable for countries with clearly defined seasons. In majority of places there are at least two – winter and summer, while in other place you may easily divide weather for winter, summer and mid-season, which means selling of new collections of shoes. Although this business seems to be relatively easy to run there is a number of difficulties, which are important to know before you make a decision to run the store. One of them is quite valuable initial investments: from $30’000 to $100’000 dollars, which are based mainly on production purchasing costs, design and equipment of shop and leasing payments. But I would like to oultline some other sides of this business.
The process of running the shoe store starts with finding a supplier. This step offers you few options: manufacturer, wholesale supplier or franchisor. Generally speaking, franchising is more convenient for shop owners due to franchisor advising and marketing programs for its franchisee. Besides, in addition to production supply franchisor usually provides its partners with basic business planning tips, shop design conception, merchandizing techniques, logistics, sales personnel training and other expert data. However, if you’ve decided to develop your shop according to your own conception or make a multi-brand store you will need to take care of mentioned sides of your business by your self. By the way, when planning your purchasing process pay attention to common way of shops purchasing. Idea is simple: some sizes are more popular then others, while others are too big or small for middle customer. Normally manufacturer packs 8 pairs of shoes of the same model in one box. Such boxes contain 2 pairs of one of the most popular sizes, another two pairs of another one popular size, while each other pair has various less demanded sizes. Such a way of wholesaling the shoes makes you to buy a minimum of eight pairs of any model. It means that if your shop offers 50 models of shoes you have to purchase at least 400 production units.
Once you’ve found appropriate shoe supplier think over a location of your shop. Experienced shoe shop owners are agree that the most suitable place for shoe selling are in the popular shopping centers. Though the leasing prices in such malls are high, it’s covered by intensive visitors’ flow, while shops with separate entrance from the street will be found by potential buyers only during a time.
Another advice of shoe sellers is to launch your business prior to winter or autumn seasons, as at these periods sales are traditionally high, which means that your investments will be returned faster. By the way, normally investment in retail shops returning takes from …. To … months with average retail markup of 100%.
Marketing in shoe business is quite traditional. But one of most important components of shoe store marketing strategy is using of aroma marketing. Smell of genuine leather will improve your sales significantly. Another important things are comfortable fitting and waiting zones in order to make customers and their partners or friends to stay in your shops for as long as possible and even to have a rest.