Some shoe stores cater to women.
A wide variety of shoe stores is available to consumers, from those that are only for babies up to brides and grooms. A shoe store is very versatile as it can work physically within your local community or online where you can service customers around the world. Opening a shoe store requires planning and a good dose of preparation, but it can be a cost-effective way to make money. If you are in fashion and looking to start a retail operation, opening a shoe store may be the ideal bargain for you.
Choose a shoe niche to sell. For example, you can sell orthopedic shoes, women’s shoes, baby shoes or boys or formal shoes for men.
Write a business plan for your shoe store business, including marketing and public relations plans, analysis of competing for shoe stores, details about your target market and niche, three-year budget, and forecast benefit.
Get the necessary permissions in your state to start a retail business. Depending on where you live, this may include a resale permit, indicate the tax identification number, employer identification number or name certificate assumed.
Open accounts with wholesale shoe dealers. You can find these companies online, and if you live in a major metropolitan area, there may be local providers available. Make sure you buy the wholesale inventory, with a discount of 40 percent to 60 percent of the retail price, to make a profit.
Rent a showcase of your shoe store. Alternative places of the sale include online auction sites, your own e-commerce store or a flea market stall. When choosing a place of sale, keep the goal of your market in mind. For example, selling branded shoes at a flea market does not work well, but selling discount children’s shoes at a flea market would be a better idea.
Decorate your store in an attractive way and organize your shoe inventory. For example, if you open a children’s shoe store, use a vibrant decor, set up a children’s play area, place footwear measurement guides throughout the store, and separate baby shoes from older children’s shoes.
Promote your shoe store business. Open accounts on social networks to connect with potential customers, launch a website and offer a newsletter with exclusive discounts for subscribers or flyers and coupons at complementary local businesses, such as beauty salons, clothing stores, and jewelry stores.