Shoe business is a fashion profit making business and a good which must be used.
Shoe business is such that has grown under the eyes of other businesses and has grabbed roots.
It’s a very competitive business as it deals with fashion and creativity of shoe builders.
China and U.S.A are known to be the top footwear consuming countries, followed by India.
Tips to guide you are;
1.Know your rivals
Understanding your rivals will give you a closer picture of who you’re up against and it will propel you to have helpful ideas for your own store.
2. Estimate start up cost
To begin your business you need to know your cost, how expensive it will be or how less expensive your plan it to be, this will avoid misdemeanor spending.
3. Decide on shoe supply
You will need a manufacturer to get your shoes from, but it’s highly profitable if you can build up your own shoes.
4. Observe the crowd
Observing crowd is to study the needs of the crowd based on your target market; do you think they need party, formal, casual or sport foot wear?
5. Choose type of shoe
This is a major part which is determined by your target market. Are your target for kids, formal footwear for women, athletic shoes?
6. Choose a Location
For such a business, you’re expected to go for locations surrounded by people, like parks, busy streets or close to food courts.
7. Shoe display
Create a way to display your shoes, remembering that your mode of display will attract customers.
8. Hire staffs
This is advisable to do as a starter, in situations whereby you’re the one building your shoes in a small scale.
9. Take orders
Allow customers to place orders, for example; marriage orders, group party orders, ceremonial orders of any kind. It’s a bonus to your sales and also advertises your business evidently.
10. Have an entrepreneurial spirit
To be successful in this business, you need to have an entrepreneurial spirit, diligent, hardworking, creative, intelligent and never giving up.
The beauty of this business is that, it will forever exist. Indian yearly provide 2.1billion shoes and 90% of it are consumed in their country while the remaining are exported to European nations.
Venturing into this business should be for a vital purpose, not just to make money but to bring about a means whereby the lower class or the poor and middle class can also purchase quality shoes at a cheap rate.