How To Start A Shoe Store Business Plan
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1. INTRODUCTION
A shoe is an item of wearables that provides us the comfort and protection from all outside hurdles. Having a wearable, it occurs various changes in the pattern, design and material used from the olden times. Now various technological changes been done to shoes and modifications in the designs of them. Traditional the material used for the manufacturing of the shoes was wood, canvas, leather, but at present rubber, plastic, and other petrochemical material are preferred.
Nowadays lot of varieties are available in the shoes, they are categories according to various parameters as brand, colour, type, size, purpose, price, material use. Like brands which are mostly preferred like Nike, Adidas, Bata, Paragon types are sports shoes, sandals, heels, chappals, slippers, walkers. Also there categories shoes like jogging shoes, walking shoes, gym wears, mountains and hills climbers, party wear high heels, pointed heels, formals, casuals, water proof wearables etc. thus serving all those customizing shoes to the customers makes the business more profitable and demanding business too. Therefore, having such wide area of business shoe store business, shoe manufacturing business, starting online shoe business is good option in investing.
2. CASE STUDY
The following are the case studies for the shoe store business:
PARAGON: This is the totally Indian brand started in 1975 in southern state of Kerala. The reason for the success of Paragon shared by them are their staffs and the performance delivered by them with the distributors too. Their speciality is rubber footwear. They serve all categories of slippers, chappals, flipflops with comfort as the motive.
RED CHIEF: This name indicates that it is international brand, but it’s pure swadeshi brand for the formals in India. This Red chief becomes fastest selling leather shoes brand just by their quality they served to customers. They purely don’t compromise with the quality products they used and the also the designs.
3. BUSINESS IDEAS’S SWOT
i) Strength
- # Footwear shop profit margin is highly grossing.
- # The start-up risk for starting shoe business is minimum.
- # This shoe store business can be started at household level and as apart time business too.
- # The employees needed doesn’t required special educational criteria.
ii) Weakness
- # Starting a sandal business, the other competitors can compete by offering same products with low pricing.
- # For promoting a shoe business, the transportation cost is maximum.
- # Wholesalers distributors of shoes have limited pricing flexibility.
- # The wide expansion of shoe store business is time taking.
iii) Opportunities
- # The shoe store is having the opportunity to starting online shoe business.
- # Contacting local schools, colleges, hostels, hospital management for the availability of uniform shoes for the staffs and students with reasonable price.
- # Association with vendors and distributors.
- # Development of exclusive products.
iv) Threats
- # The major threat to the shoe store business is from the franchise of international brands opening in almost every cities.
- # The changing in the taxation system of the government rules of the country.
- # The less availability of leather causes higher pricing of products or debasement of the item.
4. MARKETING STRATEGY
The following are the marketing plan for the shoes company:
- # Place: Choose the location of the store or showroom very smartly, as it must be in th spot were customers can easily visit your store. Also place have good appearance with comfortable sitting arrangements for the visited customers, along with better ventilation facilities.
- # Product: The customers visiting repeatedly mostly depends on the products served to them. The product must be of good quality or brand with guarantee including. Customers’ demands for the variety of items and customised, so must be able to fulfilled their needs and services.
- # Portfolio: The work portfolio of the shop must be strong and enough to attract clients. Portfolio reflects the shop’s status and liabilities of the firm.
- # Promotions: The promotions of the shoe store business must be done with the traditional as well as online methods. The social media is the best tool for the promotions and the advertisements. While using local news channels, hoarding, paper advertisements are also the good options for the promotions.
- # Pricing: The price of the product/shoes must be reasonable and affordable to each type of customer. Make the sections of the shoes as per the price of the products so that it is suitable for the customers to buy, also allow some discounts for the higher purchasing of the shoes.
5.FINANCIAL PLAN
- # Place/store
- # Raw material
- # Shoe designers
- # Employees
- # Electricity supply
- # Display at store
- # Transportation facility