online shoes business plan

Online Shoe Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Fashion & Style

Are you about starting an online shoe store ? If YES, here is a complete sample retail shoe store business plan template & feasibility report you can use for FREE .

The major things you need to have in place to make success from this type of business is a good location, easy access to wholesale supply of quality shoes and good customer service skill. The truth is that if you shop is located in an area with good human and vehicular traffic, and you have quality shoes (for male and female, adult and children) from different brands, you may not have to struggle to get people to visit your shop and make purchase.

So if you have decided to open a shoe retail store, then you should ensure that you carry out feasibility studies and also market survey.

A Sample Online Shoe Store Business Plan Template

1. industry overview.

As the name of the business implies, shoes retailing stores basically retail footwear. Shoes stores primarily purchase footwear from wholesalers and retail them directly to end users – customers. The Shoe Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products.

Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing. Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to thrive.

The Shoe Retail Stores industry is indeed a major sector of the economy of the United States of America and they generates a whopping sum of well over $35 billion annually from more than 11,157 shoes retail outlets scattered all around the United States of America.

The industry is responsible for the employment of well over 213,931 people. Experts project that the industry will grow at a 2.4 percent annual rate.

The establishment in this industry that has dominant market shares in the United States of America are; Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company and Payless Shoes. In combination, they account for roughly 31.7 percent of the revenue generated in the industry.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the shoes retail stores industry contributes greatly.  This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / shoes retailing stores industry negatively which may result in the closure of some furniture retail stores.

Over and above, the shoes retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner or you can choose to start on a large scale with several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Louis & Louisa Shoe Store®, Inc. is a standard and registered shoe retail store business that will be located in one of the busiest streets in Charleston – West Virginia.

We have been able to lease a facility that is big enough (a 5 thousand square foot facility) to fit into the design of the kind of standard shoe retail store that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Charleston – West Virginia.

Louis & Louisa Shoe Store®, Inc. will retail men’s shoes, women’s shoes, men’s athletic shoes, women’s athletic shoes, children’s shoes, slippers and other types of shoes such as Hosiery and sports footwear, golf shoes, bowling shoes and cleats et al from different manufacturers (brands) from the United States and abroad. We are set to services a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several large and small chains of shoe retail store outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with various payments of options. Louis & Louisa Shoe Store®, Inc. will ensure that all our customers are given first class treatment whenever they visit our shoe retail store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved in the selection of brands that will be on our shoe racks and also when making some business decisions.

Louis & Louisa Shoe Store®, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Louis & Louisa Shoe Store®, Inc. is a family business that is owned by Louis Anderson and his twin sister and business partner Louisa Anderson. Louis Anderson has a B.Sc. in Business Administration, with well over 5 years of experience in the shoe retailing stores industry, working for some of the leading brand in the United States.

Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Louis & Louisa Shoe Store®, Inc. is in the shoe retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of shoes from top manufacturing brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

• Retailing children’s shoes
• Retailing athletic shoes (including sport-specific shoes like cleats and bowling shoes)
• Retailing men’s casual and formal shoes
• Retailing women’s casual and formal shoes
• Retailing slippers and other shoes

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the shoe retail stores industry in West Virginia and to establish a one stop shoe retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class shoe retail store business that will make available a wide range of shoes from top shoe manufacturing brands at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of shoe retail stores and franchise.

Our Business Structure

Louis & Louisa Shoe Store®, Inc. do not intend to start a shoe retail store business like the usual mom and pop business around the street corner; our intention of starting a shoe retail store business is to build a standard and one stop shoe retail store outlet in Charleston – West Virginia.

Although our shoe retail store business might not be as big as Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company and Payless Shoes et al, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders ( the owners, workforce, and customers ).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of shoes are kept and warehouse does not run out of products
• Ensure that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls shoes distribution and supply inventory
• Supervises the workforce in the shoe sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of shoes from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manage the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding the store and the merchandise)
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• make suggestions and encourage purchase of products
• Provides information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
• Bags or packages purchases and gift wrap merchandise
• Responsible for cleaning all the shoes and the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention of starting just one outlet of our shoe retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several shoe retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Louis & Louisa Shoe Store®, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Louis & Louisa Shoe Store®, Inc.;

Our location, the business model we will be operating on both (physical store and online store), varieties of payment options, wide range of footwear and our excellent customer service culture will definitely count as a strong strength for Louis & Louisa Shoe Store®, Inc. So also our team of highly qualify staff members is also a plus for us.

A major weakness that may count against us is the fact that we are a new shoe retail store outlet in Charleston – West Virginia and we don’t have the financial capacity to compete with multi – million dollars shoe retail store outlets like Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co when it comes to retailing at a rock bottom prices for all their shoes.

• Opportunities:

The fact that we are going to be operating our shoe retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our shoes to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our shoe store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new shoe retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Shoe Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever changing trends are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Shoe Stores industry.

So also, the rising demand for trendy footwear, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as shoe stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, concentration has increased slightly over the past five years, as merger and acquisition activity has become more prominent. Additionally, companies that have enough funds to invest in multi-channel operations have benefitted more than smaller operators with minimal resources.

This trend has been illustrated by statements made by Design Shoe Warehouse – DSW’s CEO Mike MacDonald on several occasions. As part of marketing strategies, shoe retail stores engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

Lastly, in recent time, the shoe retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical shoe retail store is located.

8. Our Target Market

Possibly it will be safe to submit that the shoe retail stores industry has the widest range of customers; almost everybody on planet earth need one form of footwear or the other especially if they can afford it. For instance, it will be difficult to find any sane man or woman on the street of Charleston – West Virginia without shoe.

In view of that, we have positioned our shoe retail store to service the residence of Charleston – West Virginia and every other location where franchise cum outlets of our shoe retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of shoes to the following groups of people and corporate organizations;

• Men and women
• Bachelors and Spinsters
• Corporate Executives
• Business People
• About to wed couples
• Sports men and women

Our Competitive Advantage

A close study of the shoes retail stores industry reveals that the market has become much more intensely competitive over the last decade.

As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other leading shoe retail stores in Charleston – West Virginia and throughout the United States and Canada.

Louis & Louisa Shoe Store®, Inc. is launching a standard one stop shoes retail store that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our outlets will be opened.

Our shoes retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 30 cars per time.

One thing is certain; we will ensure that we have a wide range of footwear from leading manufacturers available in our store at all times. It will be difficult for customers to visit our shoe store and not see the type of footwear they are looking for.

One of our business goals is to make Louis & Louisa Shoe Store®, Inc. a one stop shoe shop for both household and corporate organizations. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups shoes retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Louis & Louisa Shoe Store®, Inc. is in business to retail a wide range of footwear to the residence of Charleston – West Virginia. We are in the shoe retail stores industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.

In essence, our source of income will be the retailing of a wide range of footwear at affordable prices. Louis & Louisa Shoe Store®, Inc. will generate income by selling the following products;

10. Sales Forecast

One thing is certain when it comes to shoe retail stores, if your store is well stocked with various types of footwear and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the shoe retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

Below is the sales projection for Louis & Louisa Shoe Store®, Inc. it is based on the location of our business and other factors as it relates to shoe retail stores start – ups in the United States;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same shoe brands and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Lord Louis & Louisa Shoe Store®, Inc., we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the shoe retail stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston – West Virginia.

In other to continue to be in business and grow, we must continue to sell the footwear that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Louis & Louisa Shoe Store®, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our shoe store in a grand style with a party for all
• Introduce our shoe store by sending introductory letters alongside our brochure to organizations, households and key stake holders in Charleston – West Virginia
• Ensure that we have a wide range of footwear from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our shoe store
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our shoe store.
• List our business and products on yellow pages ads  (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our shoe store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our shoe store.

Louis & Louisa Shoe Store®, Inc. has a long term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Louis & Louisa Shoe Store®, Inc.;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+  and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Louis & Louisa Shoe Store®, Inc. and the products we sell
• Advertise our shoe store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to shoe stores, it is normal for consumers to go to places (shoe retail outlets) where they can get footwear at cheaper price which is why big player in the shoe stores industry like Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co will attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co but we will ensure that the prices and quality of all the footwear products that are available in our store are competitive with what is obtainable amongst shoe stores within our level.

• Payment Options

The payment policy adopted by Louis & Louisa Shoe Store®, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Louis & Louisa Shoe Store®, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our footwear.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a shoe retail store business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our start – up capital;

• The Total Fee for Registering the Business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Louis & Louisa Shoe Store®, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• Cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
• Cost for Shop remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with a wide range of footwear from different brands) – $250,000
• The cost for counter area equipment – $9,500
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a Website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our shoe retail store in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Louis & Louisa Shoe Store®, Inc.

Louis & Louisa Shoe Store®, Inc. is a private registered business that is solely owned and financed by Louis Anderson and his twin sister and business partner Louisa Anderson. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $250,000 ( Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Louis & Louisa Shoe Store®, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality footwear a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Louis & Louisa Shoe Store®, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers and suppliers of footwear: In Progress

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https://www.printxpand.com/blog/how-to-start-an-online-shoe-store/

Printing Business Guide

How to Start an Online Shoe Store: A Complete Guide

Yesha bhatt, table of content, a product idea that is trending, online shoe business prerequisites, a home for shoe store: launch your website, what customers want from your online shoe business, how to make your store remarkable, figure out how to manage supplies for your store, wrapping up.

The global footwear market is estimated to grow with a CAGR of 3.62% in the next seven years.

Significant growth of the footwear market makes an online shoe business a promising business idea.

Many first-time entrepreneurs get super excited to start their venture, but even the most passionate minds find it difficult to tackle challenges when it comes to actual selling.

When it comes to selling shoes online, the most significant barrier is return rates. In footwear, they are as high as 35% , three times more than in general eCommerce.

As an eCommerce store owner, the last thing you want is to handle product returns – the most challenging aspect of doing business online.

To avoid such complications, you need a solid strategy that works right from choosing a type of shoe to delivering an exceptional experience on your website.

With that in mind, we have prepared this detailed guide to provide all the information you need to start an online shoe store from scratch.

It’s up to you whether you want to sell shoes, for men, or women, sneakers, boots, or any other type. A good thing to do is to do market research, prepare an online shoe business plan and understand what works and what doesn’t. Suppose you are in Europe and you want to sell in the Asian market. Start by asking questions: which are the best-selling shoes in Asia? Which specific product do I want to focus on? How will I sustain my business?

You can look for freelance marketers with experience in your chosen market to help you find the answers to these questions.

If your goal is to sell any and every type of shoe, beware it’s not a smart move.

Of course, everybody needs shoes. But targeting everybody is a risky thing in eCommerce. We suggest starting by choosing a niche product that aims at specifying specific market needs. You might have already figured out but in case you have not, here’s what you can do

Instead of thinking – “I want to sell men’s shoes,” focus on a narrow market like leather shoes, knee-high boots, sneakers, and so on. Focusing on a niche will aid in getting in front of the right audience for a small business.

No matter which niche you choose, one way to stand out from your competitors and build a loyal customer base is to consider offering customizable shoes.

Your customers no longer want to have the same generic white sneakers. They want to add a personal touch to their shoes, and hence biggies like Adidas and even startups have started enabling product customization.

For instance, below is a design studio by Toesmith. The brand allows shoppers to choose from different colors and lets them add their pictures, add text, and so on.

(Custom Shoes to Let Shoppers Add a Personal Touch)

Curious to know how you can start selling custom shoes online? With PrintXpand’ fully-functional Explore Web to Print Solutions , you can let your customers design your product. Click the link below and see how the magic of product customization works.

Before starting an online shoe store, you have to get into the nitty-gritty of clearing legal requirements and creating a strong brand identity.

Here’s a complete checklist of what you need to have before starting an online shoe store

1. Your Store’s Name

Make sure the name of your online shoe business represents your vision in just one or two words. Don’t be obscure but think of something that is memorable. Tools like Shopify’s Business Name Generator, Brand Bucket can be helpful for brainstorming.

2. Business License

Starting an online shoe store doesn’t exempt you from certain legal requirements. The licenses you require depends on the type of product, and your business requirements. Moreover, every state and city has different requirements which you need to find out. Some licenses that an online shoe business requires include:

• A Business Operation License which allows your eCommerce business to conduct business in your city, county, or state.
• An Employer Identification Number (EIN) that identifies your business as a distinct tax entity.
• A Seller’s Permit (or Seller’s License) to legally sell the shoes online.

3. Brand Logo

A logo is one of the most recognizable things about your business. A well-crafted logo can send the right message to your target audience. Use simple icons and fun colors to communicate who you are and what you do. Tools like Logomaker , Adobe Illustrator will make your task easy.

4. Product Pricing

A product with a high price might see fewer sales. While lower rates are not always ideal. As a store owner, the best you should do is balance. After considering factors like product and business cost, competitor’s price, and revenue goals, choose the right pricing strategy for online shoe business.

Here are some strategies that will aid your decision

• Use the MSRP – the price your manufacturer recommends.
• Keystone pricing where you double the wholesale cost of your product to determine the retail price.
• Competitive pricing where you consider competitor pricing data as a benchmark and consciously price your product below theirs.

Starting an online shoe store requires in-depth market research and choosing tech tools. At PrintXpand, we have the skills and experience to understand your requirements and offer services within your budget. Let’s get in touch to see how the show designer will work with your e-store.

Your products need an eCommerce website. There are two major eCommerce solutions

(a) SaaS eCommerce platforms like Shopify, BigCommerce, best suited if you do not want to deal with technical complications. The provider builds, hosts, and manages the software. This limits your ability to customize.

(b) open-source like WooCommerce, Prestashop where you can view, change, or distribute the source code as per your purpose. They give you complete control to personalize your source.

There are loads of eCommerce builders. Some are reliable, some require technical expertise, some are expensive, while some are budget-friendly. Here are some eCommerce platforms that you should consider when starting an online shoe store

Start selling from $29.99 a month

2. BigCommerce

Start selling from $29.95 a month

3. WooCommerce

Starting at just $6.95

Starting at $12 monthly

Following are the features you should look for when selecting an eCommerce platform

• SEO-friendly – When shoppers look for shoes in the search engine, it should be easy for them to find your brand. If you are a new online store, you would want to ensure that your shop ranks high in the search results. Look for an eCommerce platform that is SEO friendly which allows you to add your blog, use your domain name, get hosting from a hosting provider like Siteground alternative , and collect customer reviews. These are crucial to driving organic traffic.
• Security – The most important thing to consider while choosing a platform is security. In the future, your online store is actively going to take digital payments. Be sure the platform you choose offers top-notch security. Choose a platform that supports HTTPS/SSL for a safe checkout. Moreover, it must be equipped with PCI-DSS compliant payment solutions such as PayPal, Stripe, Square, WorldPay, Braintree, and SecurePay for secure payment processors.
• Analytics – After you launch your online shoe business, you will want to keep track of analytics on how your shoe store is performing. Consider a platform that allows you to track sales, order amount, and more.
• Mobile responsiveness – With the increasing use of smartphones and tablets, it’s crucial to have a mobile-responsive eCommerce platform. Look for a platform that allows your online store to be mobile-friendly, meaning it adapts to different screen sizes and is easy to navigate on smaller devices. This will ensure that your customers have a seamless shopping experience regardless of the device they use.

Creating an eCommerce website is an important first step in starting an online shoe store. You can either build a website from scratch or go for a ready-to-use web to print storefront.

At PrintXpand, we help businesses launch their websites with a web to print store that includes features like catalog management, product management, customer orders, and more. Request a FREE personalized demo and get a personal tour of our web-to-print storefront.

A. User-friendly Store

The Internet doesn’t give a second chance. A poorly designed and performing website is a major credibility killer. Did you know 88% of online consumers are less likely to return to a site after a bad experience?

The key here is to help shoppers get what they want without unnecessary clutter. This means you need to focus on user experience by providing shopping categories, filters, and capabilities to compare product and price.

B. Nice Videos & Photos

If you are thinking to post a picture and write the description in bullet points, then it’s not a good idea. Shoppers want to see the product image from different angles. Let them not just zoom the picture but get a feel of the picture. Your shoe store needs high-resolution photos and videos that do not take too long to load.

C. Mobile-friendly Experience

79% of smartphone users have made a purchase online using their mobile devices in the last 6 months. To give a user-friendly experience, ensure that your store is responsive, adapts to whatever device is accessing.

D. Return Policy

ensure your shoe store has a clear return policy. This will help build trust with customers that your brand is there for them in case of anything.

Explore the other features and functionality of a shoe designer tool. Check out the demo now!

Once you build your online shoe business’ website, you need to attract visitors. Let’s find out how to make your shoe store remarkable and get huge traffic.

How do you think Nike generated 254 crores USD net income?

For years, the color and design of each Nike shoe were limited. When customers were more and more looking for customization, most shoes that Nike offered were either in black or white.

Later, Nike introduced a game-changing platform to change the way customers buy sports shoes, and bring more innovation to the operating model of shoe manufacturing.

You can provide similar value to your customers by integrating a 3D Configurator or even a Product designer tool.

With a 3D Configurator, you can offer a shopping experience beyond customization. Your customers can personalize parts such as outsole, heels, midsole, and even the texture of their shoes. They can have a realistic view of your shoes from every angle.

This is why, visitors who view 3D images of products are 11x more likely to purchase than website visitors who don’t. Thus, integrating this software can lead to higher conversion rates along with fewer returns.

With our 3D Shoe Configurator Tool, your customers can customize every aspect of their shoes, from the color and texture to the outsole and midsole.

And the best part? They can see a realistic 360-degree view of their design, which can boost their confidence in making a purchase.

Plus, our Shoe Configurator Tool is mobile-first, so your customers can enjoy a seamless shopping experience on any device.

And if you want to offer co-creation options, our tool comes with in-built designer options that allow your customers to add text, clipart, or even upload their own images.

With our rule-based pricing, you can set prices based on the quantity, color, cost, printing method, and more.

Don’t settle for a basic online shoe store.

Stand out from the crowd with our Shoe Configurator Tool and give your customers an unforgettable

shopping experience.

Try it out today and see the increase in conversions and customer satisfaction.

You can also deliver an engaging customization experience with a Product Designer Tool . It is a Web-to-Print software with diverse features, using which, your customers can create customized designs.

They can browse from a huge library of images, texts, clipart, and ready templates to create personalized designs on any and every device.

(Shoe Design Software by PrintXpand)

What to look for in a shoe design tool?

• Multi-Database Support – The database of the designer tool allows you to access business logic related databases on a PHP server and the end-user related database such as fonts, clip-arts, templates, color, etc. on the MySQL server.
• Large User Accessible Data – The designer tool has a huge library of colors, fonts, clip art, ready-to-use shoe design templates, and more. These templates are easy-to-use for customers.
• Secured, & Powerful Tool – The designer application has impeccable security support, protected by SSL encryption that makes the tool more secure for both the admin as well as end-users.
• Superior Browser Support – Multi-browser compatibility helps end-users access the tool. Check if the shoe design tool is compatible with all major web browsers like Google Chrome, Firefox, Opera, Safari, Microsoft Edge, and Internet Explorer.
• Multi-Device Responsive Tool – Make sure the design tool is responsive and compatible with Windows, Android devices, iPad, and iPhone.

Amazing Features You Enjoy Using PrintXpand Shoe Designer Tool

These features are just the tip of the iceberg.

Now, it’s time to make your customers fall in love with your brand. The best part of our tool is that it

is completely customizable as per your business logic.

Click the Link Below To Know More.

Once you figure out the right product for your shoes, the next step is to source products for your store.

When starting an online shoe store, consider these three options

• DIY products
• Hire a manufacturer or wholesaler
• Hire a dropshipper

1. DIY products

If you want to craft your own shoes then go for it. With the DIY approach, you will have complete control over your brand. Secondly, the startup costs will be low. Although this method will assure quality, it will take up most of your time and energy.

If you are creating the product from scratch, here’s what you will need to do

• Detailed planning
• Source materials
• Look for a rental space to store the inventory and types of machinery
• Either hire a shipping service or run the courier service yourself

2. Manufacturer or Wholesaler

If you are not ready for a DIY product then hire someone to make the product for you. This approach will need more investment in regard to facilities, managing inventory, and business insurance.

Somebody else is making your product that does not mean you have no say. As a brand owner, you have complete control over the quality of your product and the brand.

When choosing a manufacturer or wholesaler, there are two points to keep in mind:

• If you are looking for ready-made products to sell then you can source the products using Alibaba, or partner with an already established shoe company.
• If you want a manufacturer who makes your product, you can easily search on directories, Google, local library, referrals, etc.

Here are a few important questions to consider before choosing a manufacturer:

• What is the minimum order quantity?
• What is the sample pricing?
• What is production pricing?
• What is the turnaround time?

Before you sign up with a manufacturer make sure that meets your expectations. It is always a good idea to ask for a sample item and make the decision accordingly.

3. Dropshipping Method

If you want to start a shoe business without worrying about shoe start-up costs, dropshipping is one of the best alternatives for you. It is a method where you can purchase from a vendor and list their products on your online store. The vendor will charge you as and when you sell the product, and ships orders on your behalf. This means you need not worry about inventory, packaging, or fulfillment.

In this approach, you will have a wide selection of products but you are likely to have more competition, as most of the products that your dropshipper offers are readily available all over the internet.

4. Print-On-Demand

This method is the same as dropshipping but the only difference here is that you are in charge of the designs of the products you deliver.

This means that you can offer unique products that can give you the upper hand over your competitors.

You can also integrate a Product Design Tool and allow your customers to customize a pair of shoes.

Thus, you can sell unique footwear on your online storefront and your print-on-demand supplier can take care of the inventory and order fulfillment.

A Marketing Plan For Your Shoe Store

Once your products are up, it’s time to start driving traffic to your online shoe store. The objective is to develop a marketing strategy that puts your online shoe business on all the platforms where your followers are hanging out and then using different ways to connect with them.

Content to keep your audience updated with the latest trends in the footwear industry, the problems they’re facing, and how you can help solve those problems.

• Social media to share that content and then engage with your followers. You can even tell your audience about updates by using streaming platforms .
• Search engine optimization (SEO) to optimize your content, so it will show up when someone is searching for the information you’ve written.
• Embrace paid advertising to drive paid traffic to your shoe store.
• Craft personalized follow up emails to follow up with your customers to ensure they continue to buy your product..

That was all the information you need to know for starting an online shoe store. By choosing the right product and delivering an exceptional experience, you will be able to establish a loyal customer base and ultimately build your dream brand.

At PrintXpand, we help businesses launch their websites with a web to print store that includes features like catalog management, product management, customer orders, and more. Share with us your requirements, and we will get back to you.

Explore the other features and functionality of a Web to Print Solutions with Shoe Designer Tool, 3D configurator, and Web to Print Software. Check out the demo now!

All product and company names are trademarks™, registered® or copyright© trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Yesha Bhatt is a literature major who strongly believes in the mighty power of words. She recently made the jump from being a student to a professional by joining Biztech as a Content Writer. Her aim is to make tech easier for our readers to understand while she herself takes a journey into this mystic would of bits. Apart from writing and binge-reading, she is passionate about women's issues and history and mostly hangs around on Twitter making sensible points about women's issues and Indian politics.

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How to Build a Successful E-commerce Store for Selling Shoes

17 min read

Are you looking for the best-selling product able to be in constant demand? Then shoes are what you need to start your business. No matter what happens around, people always buy new clothes and footwear. So why not sell shoes online?

It would seem nothing could be easier: just develop a website, find suppliers, launch advertising, and you're golden! However, in truth, the situation is a lot more complicated.

The main problem is strong competition because you aren't the only one who wants to make money without extra costs and hassle. Hence, you have to try hard to get noticed among consumers.

So, the question of the day is this one: how to start a shoe store without going bankrupt?

Let's discuss the issue at length.

Why sell shoes online?

Some business niches are always relevant, regardless of the time of the year, the situation in the country, and other negative phenomena that we cannot influence. And footwear, too, is on the list of in-demand e-commerce products. Yes, as we mentioned in the introduction, shoe shopping is going to be popular at all times.

Let's not be unfounded: judging by the research, the monthly expenses of an average family for this product category are from 8 to 20% of total income (and in some cases even more). Still further, the footwear market is growing by 5-10% annually (although it is far from reaching 100% of its potential).

Hence, starting a shoe store business is a profitable idea. And we're ready to substantiate our words. Moreover, later we'll also talk about the benefits of selling shoes online, using digital technologies (after all, it's high time to take advantage of our advanced era!).

Pros of shoe selling:

Hot selling product . As we said, people will always need new shoes as our boots wear out or go out of style. According to statistics, almost every adult purchases at least two pairs of footwear during the year. And some of us consider the process of buying shoes a way of relaxation (especially women).

Good income . Shoe stores make money, and good money, so you can count on a decent income (since the margin is about 80-150%).

Choice of assortment . You’re free to compose your assortment in such a way as to compete more successfully with other market players.  

No need to purchase expensive equipment . Online shoe stores don’t need production facilities (you just have to find reliable suppliers).

However, before we describe how to start a shoe store, we feel it necessary to warn you what obstacles you may face.

Cons of shoe selling:

Financial investments . Any project requires money, and an online shoe store is no exception. So you have no choice but to accept the shoe store’s startup costs (they aren't enormous, but you cannot ignore them anyway).  

Influence of fashion. If you focus on fashionable models of shoes, there is a risk that some of the products unsold during the season will become irrelevant over time (because trends are constantly changing).

High competition . You’ll have many competitors, and you should work hard to join the number of the most successful shoe stores.

But all the disadvantages described can be overcome (how exactly, you'll figure out after reading our article). Moreover, you may sell shoes online instead of offline and thereby significantly strengthen your market position. 

Why is a digital approach to selling shoes so good? Because it allows you to… 

manage your business remotely, anywhere in the world;

significantly save money, since it eliminates the need to rent premises for sale;

ensure the safety of customers who can enjoy shoe shopping remotely, without the necessity to contact other people (which is crucial under covid-19);

advertise your store more effectively (using SEO tools);

attract more customers;

keep up with the times and apply the most modern digital techniques.

How to start an online shoe store

Now let's figure out how to organize digital sales as efficiently as possible.

Step 1. Business registration

Initially, you should determine how you plan to work. Do you intend to cooperate with legal entities? If not, you just have to register as an individual entrepreneur.

Step 2. Find your niche

Now you need to figure out how you’re going to sell shoes online: in other words, choose your specific shoe market.

Type of shoes 

In the first step of identifying your unique niche, you have to decide what type of footwear you plan to sell. You have two options:

distribution of any footwear (without a focus on a particular target group of buyers);

sale of a specific type of footwear.

However, keep in mind that selling a specific type of shoes is easier because there is no need to compete with the big market players. Otherwise, you'll have no choice but to invest a lot of money when starting your online shoe store.

Okay, let’s suppose, you've decided to do this the easy way. What options do you have? What type of shoes can you sell? 

• Women's shoes . Let's say right away, the idea is good! And probably there is no point in explaining in detail why, right? After all, it is women who are dedicated shoe shopping fans. And they won't be satisfied with two or even three pairs of shoes. They want the trendiest models and often buy new boots just to please themselves.
• Men's footwear . Men are much less active when it comes to buying shoes. A few pairs of footwear are just enough for them, and they'll buy the next boots only when their old ones are completely worn out. So the main emphasis should be on the cheap and medium price segment, as well as on sports shoes, which wear out faster and are of increased interest among young guys.
• Children's shoes . Do you know how to start an online shoe store with the most active customers? Include children's footwear in the assortment! Kids are constantly growing, as you know, which means they need new shoes literally every few months. On the other hand, parents are very sensitive to their children, and therefore they'll have increased demands on the quality of baby shoes. 
• Classic shoes . Let's start with classic footwear, including low shoes, sandals, boots, and more. The classic style is always in fashion, so the demand for such shoes remains high at all times. 
• Sport shoes . Here's another great idea for starting your online shoe store! The fact is that people fond of sports buy shoes of this very type on a regular basis (as we've already said, sports footwear tend to wear out quickly). But even men and women who neither go jogging nor visit the gym love to wear sneakers and other sports shoes from time to time (and why not if they're really comfortable?). As a result, your online shoe store will always have active customers.
• Special (industrial/work) footwear . We're talking about footwear aimed at people of a certain profession, be it doctors, pharmacists, cooks, etc. These shoes must have special quality characteristics in order to properly perform their functions. For example, sometimes footwear should be protected from temperature extremes or aggressive external influences. It all depends on the field of activity.
• Handmade shoes. In this case, you can hardly hope for a constant influx of customers, but you have a chance to win the love of consumers who appreciate such handmade footwear.
• Indoor footwear. And finally, when thinking about selling a specific type of shoes, don't forget about indoor footwear: slippers, gym shoes, etc.

So, you've decided on the range of products. What else should you know to sell shoes online?

Of course, now you have to find out who he or she is, your average customer.

The target audience

Having identified a niche, you can easily determine your target audience either. Say, if you've opened a store of luxury shoes, your target customer is a wealthy, respectable person who wants to create a strong impression on others. 

Now you need to specify the main characteristics of the potential consumer and his shoes buying habits:

the average age;

gender (that is, are there more men or women among your clients?);

average income;

lifestyle (active, passive);

the purpose of the purchase (everyday wear, special occasions, sports);

tastes in clothes. What style does your consumer prefer? Maybe he or she loves classics or, on the contrary, always chooses fashion trends? Besides, is the comfort in wear a must for him (her)?

shopping frequency.

We’ve figured out your customers’ shoes buying habits, but this isn't enough to move further according to the plan. Now let's divide the target audience of your online shoe store into several conditional categories:

Conservatives: people who prefer classic models and everything traditional;

Experimenters and fashion-mongers who aren't fond of wearing standard clothes and footwear. They love bright colors, quirky prints, fancy heels, and the like;

HLS fans: such consumers lead a healthy lifestyle and love comfortable ergonomic shoes;

People of high status, those who value their reputation. And shoes must be appropriate: stylish, expensive, branded.

Sybarites, namely, people who prioritize their own comfort. The shoes they wear should be as comfortable as possible;

Adherents of eco-fashion. These consumers are advocating green trends in all forms. They care about the environment and therefore choose what they call eco-shoes.

Okay, you know who you’re going to sell shoes online to. Now it's time to finally define your niche.

What is the right way to approach this issue?

How should you determine your specific shoe market?

To determine your niche and then plan your assortment, use the following simple techniques:

analysis of Google search queries in order to find out the products, the interest in which is now growing;

in-depth marketing analysis;

analysis of the lists of the most frequently sold products on large online marketplaces.

Now we can tell you how to start a shoe store for your chosen niche. And let's start with such an important stage as…  

Step 3. Competitive analysis

Before creating your unique concept, you need to understand what other market players are offering. So you have to conduct a thorough analysis, identify the main sources of competitor traffic, and find out which triggers are especially effective given the audience you choose. 

When analyzing competitors (the most successful shoe stores that use digital selling tools), pay attention to:

their assortment;

marketing and pricing policy;

reviews in social networks;

their main pros and cons;

the structure and usability of each online shoe store;

With all this data, you’re welcome to build your own strategy, focusing on:

the best ways to differentiate yourself from competitors;

a list of your competitive advantages;

developing effective ideas for promoting the resource. 

Step 4. Choose a Business Model

Now we come to the most important and interesting part of our guide, which is defining the business model. After all, there is no point in starting your online shoe store if you haven't chosen the proper way of doing business yet.

Basically, there are three main online entrepreneurship schemes. We’d like to discuss each in more detail.

Dropshipping

Dropshipping is the most convenient cooperation model, especially with limited start-up capital. In this case, you act just as an intermediary between the manufacturer and the buyer and don't have to invest your own funds in the purchase of goods (that is, shoes).

Your task is to promote the online shoe store, collect orders, and send them to the manufacturer, who is responsible for packaging and delivering the goods.

you can get by with the minimum start-up capital;

no need to think about production, storage, and shipping of goods;

your responsibilities come down to quality marketing and customer search.

you’re completely dependent on a third party, i.e. the manufacturer. If the manufacturer doesn’t fulfill the customer's order or does it poorly, your reputation will suffer as well.

Wholesale commerce

Here we see an example of wholesale commerce. You buy a large consignment of goods, store them at your warehouse, and gradually sell them out.

But keep one point in mind: in order to sell shoes online using this business model, you need to have the required stock of inventory (which is footwear in your case) on an on-going basis.

you are less dependent on the manufacturer;

you save on production;

order fulfillment depends only on you.

you must have your own warehouse;

it requires constant investment in the purchase of goods.

Your own production

And the last business model is creating your own brand. More precisely, you (your company) manufacture and design the shoes. As you understand, this isn’t the easiest way to achieve your goal, what do you think?

you’re your own boss and don’t depend on anyone;

you have the opportunity to take into account the wishes of customers and create the perfect shoes;

there is no need to look for suppliers and check the quality of their products.

the method is rather complicated, time-consuming, and expensive. You have to create your own manufacturing company, so you won't do without a heavy shoe store’s startup costs.

Which of the above models should you prefer? We cannot give you advice without knowing your specific situation. So we recommend considering the following factors:

the chosen niche (your specific shoe market);

availability of a warehouse;

the amount of start-up capital;

geography of sales. 

Step 5. Hire a team to sell shoes online

Of course, you don’t need to have a huge staff to sell shoes online but hire at least one person to help you. You can't handle the workload alone.

However, ideally, you have to cooperate with a lot more employees, such as:

consultant (aka client manager);

supplier relationship manager;

warehouse worker (if you aren’t working on a dropshipping model);

Internet marketer for running a web resource;

accountant.

Everything seems to be clear, right? It's time to get down to business... but the question is: how to start an online shoe store if you don't have the money to initiate your own production? Well, then you have no choice but to find worthy footwear suppliers. 

Let's have a proper discussion on the issue, do you agree? 

Step 6. Find wholesale shoe suppliers

There are several ways to find suppliers for starting a shoe store business:

search engines;

online directories of industry enterprises;

resources of well-known official shoe manufacturers;

thematic exhibitions, conferences, forums;

competitors' sites (that is, try to learn where other market players, owners of the most successful shoe stores, find suppliers).

What to consider when looking for suppliers?

Location. In order to save money, it is beneficial to buy goods wholesale from the nearest base. Thus, you significantly reduce transportation costs. On the other hand, sometimes it is more profitable to establish relationships with manufacturers abroad (which is smarter in the long run):

A number of online shoe stores prefer to arrange supplies of goods from China, which is a fairly budgetary and affordable option. However, you should bear in mind that not all Chinese-made shoes are of good quality. If you want to reduce spoilage to a minimum, order only certified footwear in the middle and high price range.

If you've opened a store of luxury shoes, then you need to find a manufacturer of branded footwear. It is believed that manufacturers of this level are the easiest to find in Italy.

High-quality budget goods are usually purchased in Turkey or Morocco. Of course, transportation costs will be quite high.

The quality of the shoes . When starting your online shoe store, pay special attention to the quality of your products. Customer feedback matters a lot, especially at first. Therefore, the shoes you buy wholesale must be upscale.

Supply stability . Make sure the manufacturer won’t delay the delivery of goods. Otherwise, sooner or later you may find yourself in a situation where you cannot fulfill the client's order on time.

The possibility of deferred payment , which is also an important condition if one wants to build a mutually beneficial partnership.

Step 7. Decide where to sell

You’ve found suppliers, have compiled a range of products, and it's finally time to sell shoes online. However, where is the best place to start selling?

#1. Social networks 

Undoubtedly, using social media to sell online is the easiest option, and it usually comes to mind first. And why not? You just need to create a page on Instagram or Facebook, and your online shoe store is ready to go. As a bonus, you get the opportunity to easily promote your account and attract a lot of new customers.

#2. Major marketplaces

Social networks are good, but they are somewhat amateurish. A much more professional way of doing things is to resort to the services of large marketplaces like Amazon, which act as intermediaries between the seller and the buyer. People often use these platforms when buying shoes and other goods. So you won't have a shortage of customers, the task is to convince them that your store is the best.

Then again,  you'll probably have to pay a fee to the owners of the marketplace, so your expenses, including the shoe store’s startup costs, will increase. But there's nothing you can do about it.

#3. Website from scratch

Of course, the ideal way to sell shoes online is to create an e-commerce platform. You can act on your own and have complete control over the situation. Plus, you don't have to pay any commission, so all the money goes to you.

Of course, building a website from scratch isn’t an easy task. You should pay attention to the following points:

Hosting choice . Choose a reliable hosting provider that guarantees quality maintenance.

Intuitive UI/UX . The interface of your resource should be intuitive and user friendly. Trust us, website usability plays an important role. Therefore, properly structure the assortment of shoes and place the basket in a prominent place on the web pages.

Responsive version . Your site should display correctly on small screens of different types of smartphones. After all, many people prefer to use their mobile devices for shoe shopping.

Omnichannel approach . Provide the client with the opportunity to contact you not only through the form on the website but also using other channels, including instant messengers and social networks.

The most successful shoe stores have their own websites (though many of them use the services of marketplaces at the same time, one thing doesn’t prevent the other.). Of course, creating a web resource is an expensive and complicated task. Fortunately, there is a way to make it simpler and cheaper.

#4. Website development using ready-made solutions

This is an easier way to approach the above issue. Instead of creating a website from scratch, you just use ready-made cloud solutions like BigCommerce and Shopify and launch the resource without unnecessary hassle (and quickly enough). Surely, your platform won't have unique features and design, but sometimes the game is worth the candle, especially with a limit of time or money.

We told you how to start a shoe store and make it digital. But we're not done, we still have something to discuss.

Step 8. Delivery and Payment systems

Don't forget to think about efficient delivery and payment systems. The main trick is to provide the consumer with as many choices as possible.

We’re all different, which is natural, so each of us has his own taste. This also applies to payment preferences. So we recommend adding several payment methods when starting your online shoe store. Otherwise, you risk losing some of your customers.

What payment methods are required in the first place?

cash payment;

payment on delivery;

cashless payment (by bank cards, through terminals, e-wallets, and other services);

bank transfer.

Delivery of goods

When it comes to shipping, customers want a choice too. So be sure to offer them multiple options.

It would be ideal to organize several pick-up points, establish cooperation with one or more courier services, and also provide the opportunity to deliver goods to the client's home.

By the way, don’t fail to add a real-time order tracking feature. This will allow the buyer to know where his package with footwear is at any given time.

And now let's talk about how to help your resource rank among the top market players, the most successful shoe stores.

Step 9. Write an efficient marketing strategy

Let's say you've created your website and are ready to sell shoes online. But how do you attract your first customers? How to get recognition among shoe shopping fans? 

There is only one way out: you have to do your best and develop an effective marketing strategy. Its main steps include the following:

SEO optimization designed to raise your website in search results. You can hardly optimize your resource on your own, so it's better to seek help from an SEO specialist.

Contextual advertising , which is a great way to promote your platform among potential consumers. Use these ads to let users know about your online shoe store.

Email marketing , which is also a wonderful promotion tool to help you stay in touch with your customers and deliver good news to them, whether it's an annual sale or new product arrivals. You can also remind users of abandoned shopping carts or ask customers if they liked the items they've already bought.

Social networks. The best way to make friends with your consumers is to invite them to like your page on social media and communicate with them through your posts. React to user comments, answer their questions, conduct polls. And of course, don't forget about targeted advertising!

Company blog . Having a blog with articles will help promote your site too. This way, you can answer some of the users' questions even before they ask them.

Improving the company's reputation . Make your brand recognizable. Let's give a couple of useful tips:

develop a corporate identity;

publish customer reviews;

create viral social media posts.

Step 10. Calculation of the shoe store’s startup costs

If you decide to make and design the shoes on your own, you'll have to fork out a lot. On the other hand, if you choose a wholesale or dropshipping model, your costs won't be that high... but you'll need to prepare the budget anyway.

Let's figure out what you have to allocate money for:

development of a competitive e-commerce platform (hire professional developers);

salaries of your employees (since we advised you to hire at least one assistant);

creation of stocked goods (when working on a wholesale trade scheme);

office and, if necessary, warehouse rent;

advertising activities;

How to make your site one of the most successful shoe stores

We've explained to you how to start an online shoe store, but how to make it truly successful? Are there any additional tips to help you compete more effectively with the top resources of the market?

Of course, there are such tips:

Inviting name. First of all, your store must be named, and named correctly! The perfect name should be catching, easy to read, pronounce, and remember. Also, it must be associated with the company's activities and has a beautiful sounding.

Renewal of the assortment on a regular basis. Be sure to analyze your sales and act accordingly. Say, if a particular type of footwear shows very low sales rates, make the right conclusions and exclude this model from the product range (stock balances can be sold at cost). Conversely, buy high-demanded footwear in large quantities. 

The possibility to return goods . When shopping online, consumers can't try new shoes on right away. They'll inspect them later when they receive the package and bring it home (or at one of your pick-up points). So you must provide an opportunity to return the footwear if the buyer reasoned it didn't meet his expectations (of course, provided he hasn't damaged it when trying it on).

24/7 support . Your online shoe store should run like clockwork. Process orders and respond to customers' questions and comments as quickly as possible. Users are very demanding today, and if you don't answer them within a few minutes, they're likely to go to your competitors.

Competent competitive strategy . You have a lot of competitors since the whole niche is really profitable (online shoe stores do make money). So you should think carefully about how you're going to poach customers. Here are some simple tricks that experienced businessmen use:

discounts on the purchase of a second pair of shoes;

accumulative points systems;

free delivery around the city;

additional bonuses, gifts.

Convincing product descriptions . Particular attention should be paid to the following things when filling out the product card:

correct size table;

images of shoes from different angles;

description of the footwear parameters;

price indication.

Unique features . It would be good if your store has some unique feature that sets you apart from the competition.

Now you know everything you need to start your own business. It's time to put your knowledge into practice.

14 min read

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How to Start an Online Shoe Store: A Complete Guide

The global footwear market is estimated to grow with a CAGR of 5.5% in the next seven years.

Significant growth of the footwear market makes an online shoe business a promising business idea.

Many first-time entrepreneurs get super excited to start their venture, but even the most passionate minds find it difficult to tackle challenges when it comes to actual selling.

When it comes to selling shoes online, the most significant barrier is return rates. In footwear, they are as high as 35%, three times more than in general eCommerce.

As an eCommerce store owner, the last thing you want is to handle product returns – the most challenging aspect of doing business online.

To avoid such complications, you need a solid strategy that works right from choosing a type of shoe to delivering an exceptional experience on your website.

With that in mind, we have prepared this detailed guide to provide all the information you need to start an online shoe store from scratch.

A Product Idea That is Trending

It’s up to you whether you want to sell shoes, for men, or women, sneakers, boots, or any other type. A good thing to do is to do market research and understand what works and what doesn’t. Suppose you are in Europe and you want to sell in the Asian market. Start by asking questions: which are the best-selling shoes in Asia? Which specific product do I want to focus on? How will I sustain my business?

If your goal is to sell any and every type of shoe, beware it’s not a smart move.

Of course, everybody needs shoes. But targeting everybody is a risky thing in eCommerce. We suggest starting by choosing a niche product that aims at specifying specific market needs. You might have already figured out but in case you have not, here’s what you can do

Instead of thinking – “I want to sell men’s shoes,” focus on a narrow market like leather shoes, knee-high boots, sneakers, and so on. Focusing on a niche will aid in getting in front of the right audience for a small business.

No matter which niche you choose, one way to stand out from your competitors and build a loyal customer base is to consider offering customizable shoes.

Your customers no longer want to have the same generic white sneakers. They want to add a personal touch to their shoes, and hence biggies like Adidas and even startups have started enabling product customization.

Online Shoe Business Prerequisites

Before starting an online shoe store, you have to get into the nitty-gritty of clearing legal requirements and creating a strong brand identity.

Here’s a complete checklist of what you need to have before starting an online shoe store

1. Your Store’s Name

Make sure the name of your online shoe business represents your vision in just one or two words. Don’t be obscure but think of something that is memorable. Tools like Shopify’s Business Name Generator, Brand Bucket can be helpful for brainstorming.

2. Business License

Starting an online shoe store doesn’t exempt you from certain legal requirements. The licenses you require depends on the type of product, and your business requirements. Moreover, every state and city has different requirements which you need to find out. Some licenses that an online shoe business requires include:

• A Business Operation License which allows your eCommerce business to conduct business in your city, county, or state.
• An Employer Identification Number (EIN) that identifies your business as a distinct tax entity.
• A Seller’s Permit (or Seller’s License) to legally sell the shoes online.

3. Brand Logo

A logo is one of the most recognizable things about your business. A well-crafted logo can send the right message to your target audience. Use simple icons and fun colors to communicate who you are and what you do. Tools like Logomaker, Adobe Illustrator will make your task easy.

4. Product Pricing

A product with a high price might see fewer sales. While lower rates are not always ideal. As a store owner, the best you should do is balance. After considering factors like product and business cost, competitor’s price, and revenue goals, choose the right pricing strategy for online shoe business.

Figure Out How to Managing Supplies for Your Store

Once you figure out the right product for your shoes, the next step is to source products for your store.

When starting an online shoe store, consider these three options

• DIY products
• Hire a manufacturer or wholesaler
• Hire a dropshipper

1. DIY products

If you want to craft your own shoes then go for it. With the DIY approach, you will have a complete control over your brand. Secondly, the startup costs will be low. However, this will take up most of your time and energy. Think of will you manage your store, sell, and market along with creating the product.

If you are creating the product from scratch, here’s what you will need to do

• Source materials
• Look for a renting space to store the inventory
• Either hire a shipping service or run to the courier service yourself

2. Manufacturer or Wholesaler

If you are not ready for a DIY product then hire someone to make the product for you. This approach will need more investment.

Somebody else is making your product that does not mean you have no say. As a brand owner, you have complete control over the quality of your product and the brand.

When choosing a manufacturer or wholesaler, there are two points to keep in mind:

• If you are looking for ready-made products to sell then you can source the products using Alibaba, or partner with an already established shoe company.
• If you want a manufacturer who makes your product, you can easily search on directories, Google, local library, referrals, etc.

Here are a few important questions to consider before choosing a manufacturer:

• What is the minimum order quantity?
• What is the sample pricing?
• What is production pricing?
• What is the turnaround time?

Before you sign up with a manufacturer make sure that meets your expectations. It is always a good idea to ask for a sample item and make the decision accordingly.

3. Dropshipping Method

Dropshipping is a method where you can purchase from a vendor and list their products on your online store. The vendor will charge you as and when you sell the product, and ships orders on your behalf. This means you need not worry about inventory, packaging, or fulfillment.

In this approach, you will have a wide selection of products but you are likely to have more competition, as most of the products that your dropshipper offers are readily available all over the internet.

A Marketing Plan For Your Shoe Store

Once your products are up, it’s time to start driving traffic to your online shoe store. The objective is to develop a marketing strategy that puts your online shoe business on all the platforms where your followers are hanging out and then using different ways to connect with them.

Content to keep your audience updated with the latest trends in the footwear industry, the problems they’re facing, and how you can help solve those problems.

• Social media to share that content and then engage with your followers.
• Search engine optimization (SEO) to optimize your content, so it will show up when someone is searching for the information you’ve written.
• Embrace paid advertising to drive paid traffic to your shoe store.
• Craft personalized Emails to follow up with your customers to ensure they continue to buy your product.

A Home for Shoe Store: Launch your Website

Your products need an eCommerce website. There are two major eCommerce solutions

(a) SaaS eCommerce platforms like Shopify, BigCommerce, best suited if you do not want to deal with technical complications. The provider builds, hosts, and manages the software. This limits your ability to customize.

(b) open-source like Shopify, Prestashop where you can view, change, or distribute the source code as per your purpose. They give you complete control to personalize your source.

There are loads of eCommerce builders. Some are reliable, some require technical expertise, some are expensive, while some are budget-friendly. Here are some eCommerce platforms that you should consider when starting an online shoe store.

Wrapping up

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, and more. With a successful track record of over 20,000 clients, we are sure to deliver your orders requirements. Let’s get in touch to build, sustain, and grow your businesses.

If you would like to know more details about us, please contact with us: 

www.shopshipshake.co.za

If you are interested in cooperating with us. Please register on:

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How To Sell Shoes Online: Setting Up a Successful Store in 2024

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• Add Shoes as Products

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Shoe Store Business Plan

Thinking of starting your own shoe store? A flexible business model and high-profit margins make it an excellent business venture. So well done.

But before you jump in, it’s crucial to have a detailed business plan in place to succeed. Besides helping you raise capital for your business, it will also act as a roadmap to help you navigate through the ups and downs of entrepreneurship.

Need help writing a business plan for your shoe store? You’re at the right place. Our shoe store business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Shoe Store Business Plan?

Writing a shoe store business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

• This section may include the name of your store, its location, when it was founded, the type of shoe store business (E.g. athletic shoe store, casual shoe store, women’s shoe store.) etc.

Market opportunity:

• For instance, your product line may include types of shoes your business will sell, including loafers, athletic shoes, designer shoes, sandals, boots, etc.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your store. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

• Vintage or second-hand shoe stores
• Comfort shoe stores
• Online shoe stores
• Children’s shoe stores
• Athletic shoe stores
• If your shop sells a variety of shoes, you may also mention it.
• Describe the legal structure of your shoe store, whether it is a sole proprietorship, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For instance, an athletic shoe store may cater to athletes, fitness enthusiasts, and outdoor enthusiasts.

Market size and growth potential:

Competitive analysis:, market trends:.

• For instance, there is a growing demand for sustainable and eco-friendly footwear as more and more people are becoming conscious of the environmental impacts of the products they purchase. Describe how you plan to serve this growing market.

Regulatory environment:

Here are a few tips for writing the market analysis section of your shoe shop business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Product offerings:

List the type of shoes your store will provide to its customers. For instance, your product line may include boots, casual shoes, sandals, designer shoes, dress shoes, etc. If you plan to carry specific brands, you can also include their names.

Inventory management:

Suppliers and vendors:, return policy:.

In short, this section of your shoe store plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

• For example, expert shoe fitting, a wide range of sizes and styles, high-quality and durable shoes, and sustainable and ethical products could be some of the great USPs for a shoe store.

Pricing strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your shoe shop business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your shoe store, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, equipment & technology:.

• Explain how these technology and equipment help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their

Founder/CEO:

Key managers:.

• It should include the store manager, marketing manager, and other people involved in the business operations, including their education, professional background, and any relevant experience in the industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your business, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more.These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the shoe store, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your shoe or sneaker store business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample shoe store business plan will provide an idea for writing a successful shoe store plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our shoe store business plan pdf .

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Frequently asked questions, why do you need a shoe store business plan.

A business plan is an essential tool for anyone looking to start or run a successful shoe store business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your shoe store.

How to get funding for your shoe store business?

There are several ways to get funding for your shoe store business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your shoe store business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your shoe store business plan and outline your vision as you have in your mind.

What is the easiest way to write your shoe store business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any shoe store business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Back to All Business Ideas

How to Start a Shoe Store Business

Written by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on September 16, 2021 Updated on May 14, 2024

Investment range

$9,000 - $38,000

Revenue potential

$105,000 - $840,000 p.a.

Time to build

Profit potential

$52,000 - $252,000 p.a.

Industry trend

If you’re passionate about fashion and always on the lookout for the next big footwear trend, then opening your own shoe store may be a highly profitable use for your talents. Whether you focus on stylish stilettos or sleek sneakers, there are countless ways to capitalize on people’s love of shoes, which is why US footwear is an $81 billion market. 

To help you gear up for success, this step-by-step guide has all the information and insight you need to get your foot in the door and launch a successful shoe store business.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business is Right for You

Because a shoe store business will take a significant amount of effort and time to start, weighing the pros and cons is essential in measuring the risks and potential rewards.

Pros and cons

• Low to moderate startup costs
• Work the hours you choose from your own home
• Express your creativity in shoe designs
• Simple yet globally scalable business model
• Few regulations and compliance requirements
• Stocking many sizes gets expensive
• Unsold stock could mean sizable losses
• Product returns for online sales can be as high as 40%

Shoe industry trends

Did you know that the average American owns 14 pairs of shoes, from low-cost flip-flops to high-end footwear?(( https://www.psychologytoday.com/us/blog/the-science-behind-behavior/201510/how-much-are-your-shoes-really-costing-you ))

Industry size and growth

• Industry size and past growth – German data analyst Statista values the US shoe market at $92 billion.(( https://www.statista.com/outlook/cmo/footwear/united-states ))  
• Growth forecast – The market is expected to expand an additional 4% annually through 2027, according to Statista.
• Number of businesses – There are more than 28,000 shoe stores in the US, according to market analyst IBISWorld.(( https://www.ibisworld.com/united-states/market-research-reports/shoe-stores-industry/ )) 
• Number of people employed – The industry employs around 247,000 people.

Trends and challenges

Trends shaping the shoe industry include:

• Sharp rise in online sales, with Amazon alone accounting for 16% of the US market(( https://www.statista.com/statistics/197650/annual-shoe-store-sales-in-the-us-since-1992/ ))
• US exports to foreign markets are increasing sharply, with China and Vietnam representing a combined share of 47.3%

Challenges in the shoe industry include:

• Supply chain problems
• Steep import tariffs
• Rising production costs

Consumer spending

• Average consumer spend – On average, Americans buy 7-8 pairs of shoes each year.(( https://www.worldfootwear.com/news/americans-buy-75-pairs-of-shoes-per-year/708.html ))
• Potential customer base – There are nearly 260 million adult Americans.(( https://www.census.gov/library/stories/2021/08/united-states-adult-population-grew-faster-than-nations-total-population-from-2010-to-2020.html ))
• Average prices – A pair of shoes costs an average of $70.

How much does it cost to start a shoe store business?

The startup costs can be minimal or hefty depending on your start-up strategy. Starting your shoe store business will cost you between $9,000 and $38,000.

If you’re going for the minimum budget, you’ll most likely start from a home-based office with a strong e-commerce website and online stores at major marketplaces like Amazon and eBay. The major cost will be stocking your initial inventory of at least 100 pairs of shoes, plus marketing and website development.

The high-end budget might include an inventory of 500 pairs and renting out a commercial space for your brick-and-mortar store. 

How much can you earn from a shoe store business?

The revenue potential of your shoe business depends on your costs, marketing plan and sales volume. The average price for a pair of shoes is about $70, while shoe businesses often have a margin of around 50%. So for every pair of shoes you sell you should make about $35. 

As a home-based solopreneur making online sales, in your first year or two you might sell around 125 pairs each month. This would give you $105,000 in annual revenue and about $52,000 in profit. After a few years you might sell 1,000 pairs per month, but with a physical store and sales staff your margin would fall to around 30%. As a result, you would have about $840,000 in annual revenue and a tidy profit of a quarter of a million dollars. 

What barriers to entry are there?

The barriers to entry in a shoe business are fairly moderate. The industry faces minimal regulations and compliance requirements. However, the intensity of competition poses a considerable challenge to the new entrant. Well-established brands, local shoe stores, department stores and thousands of independent sellers on sites like Amazon, eBay, and AliExpress make it difficult to attract customers. Also, it can be hard to build customer loyalty in a saturated market with no switching cost to the client.

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Step 2: hone your idea.

For a small to medium-sized start-up, the best way is to outsource production to a manufacturer. It will minimize your startup investment and relieve you of a lot of the stress and challenges that come with sourcing raw material, managing production staff, and overseeing operations.

Then once you have solidified a reliable customer base, you may consider shifting to in-house manufacturing. If you’ll explore outsourcing, you’ll likely partner with a manufacturing company outside the US. China, for instance, produces about half the footwear imports sold in the US.(( https://www.usitc.gov/research_and_analysis/trade_shifts_2019/footwear.htm ))

Now that you know what’s involved in starting a shoe store, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research shoe stores in your area and online to examine their products, price points, and customer reviews, as well as what sells best. You’re looking for a market gap to fill. For instance, maybe your local market is missing a great leather shoes and boots shop. 

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as vintage sneakers.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products and type of shoes

A crucial decision is of course deciding which products to offer. You could focus on one type of shoe, such as heels, athletic trainers, sandals or boots. Or you could stock a wide variety of all these types of shoes. In addition, you might also offer related products, such as socks, shoelaces, shoehorns and more. 

How much should you charge for your shoes?

Your price should be based on your costs, overhead, and target profit margin. But remember to keep an eye on your competitors because your prices need to be in the vicinity of standard market rates. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

If you decide to focus on heels, your target market will be professional women, and you could find them on LinkedIn and Facebook. If you choose sneakers and athletic wear, your primary target demographic will be teens and young adults, and you could track them down on sites like Instagram and TikTok.  

Where? Choose your shoe store location

In the early stages, you’ll probably run your shoe store from home to keep costs low. But as your business grows, you’ll likely need to hire workers and rent out a physical storefront, and perhaps a production facility. Find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

Choose your shoe store location carefully. Look for a spot in a busy commercial district with high foot traffic, and consider the demographics of the area. Assess the competition and differentiate your store with unique brands or exceptional customer service.

Ensure the space is visually appealing and practical, and consider proximity to complementary businesses. By choosing the right location, you can establish a profitable and successful shoe store in the competitive retail industry.

Step 3: Brainstorm a Shoe Store Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better 
• Name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “shoes” or “boots”, boosts SEO
• Name should allow for expansion, for ex: “Footwear Frenzy” over “High Heel Haven”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Shoe Store Business Plan

Here are the key components of a business plan:

• Executive Summary: Provide a brief overview of your shoe store, outlining its focus on offering a diverse range of footwear, target customers, and strategies for success.
• Business Overview: Describe your shoe store’s range, including types of footwear offered, such as casual, formal, sports, and specialty shoes.
• Product and Services: Detail the variety of shoes and related accessories you plan to sell, and any additional services like fitting consultations or custom orders.
• Market Analysis: Assess the demand for footwear in your area, identifying key customer segments and current fashion trends.
• Competitive Analysis: Compare your store to other shoe retailers in the area, emphasizing your unique selection, pricing, or customer service.
• Sales and Marketing: Outline your strategies for attracting customers, like online marketing, in-store promotions, or loyalty programs.
• Management Team: Highlight the qualifications and experience of your team, particularly in retail management and fashion merchandising.
• Operations Plan: Describe the daily running of the store, including inventory management, staffing, and customer service.
• Financial Plan: Provide an overview of financial aspects such as start-up costs, pricing strategy, sales targets, and profit expectations.
• Appendix: Include supplementary documents like supplier contracts, market research data, or floor plans of the store to support your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to shoes. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your shoe shop will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have. 

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business 

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital: Venture capital investors take an ownership stake in exchange for funds, so keep in mind that you’d be sacrificing some control over your business. This is generally only available for businesses with high growth potential.
• Angel investors: Reach out to your entire network in search of people interested in investing in early-stage startups in exchange for a stake. Established angel investors are always looking for good opportunities. 
• Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal: Self-fund your business via your savings or the sale of property or other assets.

Since a shoe store doesn’t require massive funding, your best bet is probably to rely on your personal assets along with friends and family. If you have a great concept, you might also try crowdfunding — people love shoes! 

Step 8: Apply for Shoe Store Business Licenses and Permits

Starting a shoe store business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your shoe store business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software, such as vend , gofrugal , and StarCode to manage your point of sale, inventory, customers, and more.

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Influencer Collaborations: Leverage the power of social media influencers to showcase your shoe collection. Partner with influencers whose style aligns with your brand, reaching a broader audience and creating buzz around your store.
• Local SEO  — Regularly update your Google My Business and Yelp profiles to strengthen your local search presence.
• Limited-Time Promotions: Generate excitement and urgency by running limited-time promotions, such as “Buy One, Get One Half-Off” or exclusive discounts for the first 50 customers. This strategy encourages quick decisions and repeat visits.
• Footwear Customization Events: Organize events where customers can customize their shoes with unique designs, colors, or accessories. This hands-on experience not only adds a personal touch but also creates memorable moments and builds brand loyalty.
• Local Sponsorships: Sponsor local events, sports teams, or community activities. This not only enhances your store’s visibility within the community but also establishes a positive association with your brand.
• Loyalty Programs: Implement a loyalty program that rewards customers for repeat purchases. Offer discounts, exclusive access to new arrivals, or special events for loyal customers to encourage them to keep coming back.
• Interactive Store Displays: Create engaging and interactive displays in your store that allow customers to try on and experience your shoes in a unique way. This not only attracts attention but also encourages customers to spend more time in your store.
• Strategic Partnerships: Collaborate with complementary businesses, such as clothing boutiques or fitness studios, to cross-promote products. This expands your reach to new customer segments and creates mutually beneficial relationships.
• Themed Pop-Up Shops: Organize themed pop-up shops or mobile shoe displays at strategic locations, capitalizing on trends and events. This creates a sense of exclusivity and urgency, driving foot traffic to your store.
• Customer Testimonials and Reviews: Showcase positive customer testimonials and reviews prominently in your store and on social media. Authentic feedback builds trust and credibility, influencing potential customers to make a purchase.
• Seasonal Trend Guides: Regularly publish seasonal trend guides on your social media platforms and in-store, showcasing how your shoes align with current fashion trends. This positions your store as a trendsetter and a go-to destination for stylish footwear.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your shoes meet their desires. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your shoe business could be: 

• The best boots you’ll ever buy
• Vintage sneakers at incredible prices! 
• Walk tall in our vast selection of heels 

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a shoe store, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in shoes for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in shoes. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business. 

Step 12: Build your team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a shoe store business would include:

• Sales Clerks — service customers, either online or in-store
• Marketing Lead — SEO strategy, social media, etc. 
• General Manager — hiring and scheduling, maintain books

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Shoe Store – Start Making Money!

You’re now ready to begin your entrepreneurial journey and lead your shoe store business to great success! Thought you might want to bookmark this page, just in case. 

And to ensure your business starts off on the right foot, here are some tips to keep in mind:

• Meet your deadlines: Whether it’s the deadline for a printing project or your bills, make sure you meet your time commitments—your creditors, service providers and customers will appreciate it!
• Provide more value than you take: Ensure your clients get more value from you than you take from them, and they’ll stick with you for life.
• Always implement quality control: A simple quality assurance check reduces product returns and customer dissatisfaction.
• Engage the local community: You know the local community and have a direct connection with them, so it’s better to serve their needs before you market your products on a state or national level.
• Address complaints with humility: Always listen to your clients, especially their negative remarks as these are areas where you can improve. And even if a complaint is illogical or unfair, address it calmly and professionally.
• Keep improving your production capacity: You never know when a big client will come calling. Be prepared for rapid expansion and you’ll be able to seize the opportunity when the time comes.
• Attend events: Participate in major shoe industry events and trade shows. Bring your bestselling shoe designs and prove yourself as creative and capable.
• Shoe Business FAQs

Shoemaking can be a highly profitable business. The average gross profit in the industry is shy of 50%. However, you may want to outsource the shoe production to a specialized company in the initial period to reduce unnecessary stress of your business which might impact your revenues and profitability.

You can start a shoe store without investing any money. You may align with an existing shoe store and put up their stock on marketplaces and social media. Generate the demand and supply products with your own packaging. Reinvest your profits until your business starts operating independently.

Shoe designers use popular designing software such as Adobe Photoshop and Adobe Illustrator. These are versatile, hence learning them will broaden your designing capabilities.

To attract customers to your shoe store, focus on creating visually appealing displays, offer a variety of high-quality shoe options, provide excellent customer service, utilize effective marketing strategies, and consider implementing loyalty programs.

Starting a shoe business online can be profitable, as it allows for a wider reach and lower operating costs compared to a brick-and-mortar store.

The age group that buys the most shoes can vary, but typically adults aged 25-44 are considered a significant consumer group for footwear.

To be successful in the shoe business, emphasize providing high-quality products, staying updated with fashion trends, offering competitive pricing, delivering exceptional customer service, building strong supplier relationships, effectively managing inventory, implementing strategic marketing efforts, and continuously monitoring and adapting to market demands.

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• Decide if the Business is Right for You
• Hone Your Idea
• Brainstorm a Shoe Store Name
• Create a Shoe Store Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business 
• Apply for Shoe Store Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build your team
• Run a Shoe Store - Start Making Money!

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Top 10 Shoe Business Plan Templates with Examples and Samples (Editable Word Doc, Excel, and PDF Included)

Mohammed Sameer

1% > 99%

Even as mathematics enthusiasts may be raising an eyebrow at this contradictory statement, here’s where it makes sense: The global shoe industry. 

The industry is worth $382 billion as of 2022. What's surprising is that giants like Nike, Adidas, and Puma (a mere 1% of the players in the category), capture $77 billion in revenue (with $44 billion, $23 billion, and $10 billion, respectively), leaving the remaining 99% of the players to fight for the remaining pie. Hence, 1% can indeed outweigh the 99%. 

In the world of numbers, paradoxes, and profitability, the shoe industry remains both puzzling and sobering. The skewed distribution of success only underscores the importance of strategic planning and business excellence.

Yet, the potential for success in the shoe industry is not limited to the privileged few. As an aspiring shoe entrepreneur, you have the power to script your narrative of success, just like the industry giants. The key lies in strategic planning, innovation, and dedication to your goals.

Our  Shoe Business Plan Templates  are your essential tools as you attempt to put the right foot forward. We provide the blueprint for mirroring the strategies that promoted the iconic brands that have made it the shoe business. Within these templates, we provide you with the guidance, strategies, and tools to build a solid foundation for your shoe business. The 100% editable and customizable nature of our business plan ppt PowerPoint Slides provides you with the structure and the desired flexibility to edit your presentations.

Let’s explore how these templates can transform your venture into a thriving one!

Table of Contents

1. Executive Summary

2. Company Overview

3. Industry Analysis

4. Customer Analysis

5. Competitor Analysis

6. SWOT Analysis and Porter’s Competitive Analysis

7. Marketing Plan

8. Financial Plan

9. Management Summary

10. Exit Strategy

Template 1: Executive Summary

The Executive Summary slide offers a concise yet compelling snapshot of your business plan. It condenses the core elements of your shoe business, presenting a quick pitch, market opportunity, and the essence of your venture. It's the gateway that captures the attention of potential investors and stakeholders, giving them a sneak peek into the viability and potential of your business idea.

Download this business plan template

Template 2: Company Overview

The Company Overview layout serves as the blueprint for your business identity. It conveys your vision, mission, and strategic goals. It also introduces your startup summary, detailing the specific market gap you aim to address. This slide also outlines the products or services you offer and identifies key success factors that set the stage for your business to thrive.

Template 3: Industry Analysis

The Industry Analysis PPT Slide takes you deep into the world of footwear, providing an in-depth understanding of the market. It includes data on the global footwear industry's Compound Annual Growth Rate (CAGR), delves into the specifics of the US footwear market, and explores insights like revenue figures, sales channels, and consumer spending habits by age group. It even analyzes prevailing market trends to inform your business strategy, making it an essential element of your business plan.

Template 4: Customer Analysis

In this PPT Set, you explore the heart of your business – your customers. It goes beyond demographics to create vivid buyer personas, painting a detailed picture of who your target audience is. It offers insights into market sizing, helping you grasp the size and potential of your customer base. Understanding your customers at this level is crucial for crafting effective marketing and sales strategies.

Template 5: Competitor Analysis

The Competitor Analysis slide is where you examine your industry's top players, gaining a thorough understanding of the competitive landscape. You evaluate key attributes like the number of employees, revenue figures, and social media presence. This analysis uncovers competitors' target markets and unique selling propositions (USPs), equipping you with insights for positioning your business and gaining a competitive edge.

Template 6: SWOT & Porter's Analysis

This PPT Framework provides an  in-depth look at your business's internal strengths and weaknesses, as well as external opportunities and threats. The SWOT analysis helps you identify areas where your business excels and where it needs improvement. Additionally, it offers a framework for Porter's Competitive Analysis, revealing the industry's competitive forces and suggesting successful navigation strategies. This comprehensive analysis lays the foundation for a strong business strategy.

Template 7: Marketing Plan

The Marketing Plan slide outlines the strategies and tactics you will use to capture and retain customers. It encompasses your sales and distribution strategies, promotional tactics, and pricing strategies. This slide details your sales funnel, guiding you through essential steps to convert leads into loyal customers. It's a vital part of your business plan that outlines how you intend to attract, engage, and retain your target audience.

Template 8: Operational Plan

The Operational Plan slide delves into the day-to-day workings of your business, both in physical stores and online. It sets specific milestones, providing a roadmap for measuring your progress and keeping your business on track as it works toward its objectives. This detailed plan ensures that your business operations run smoothly.

Template 9: Financial Plan

The Financial Plan slide is the backbone of your business's financial strategy. It presents your financial assumptions, revenue models, sales forecasts, break-even analysis, projected profit and loss statements, cash flow projections, balance sheet estimates, scenario analyses, and DCF (Discounted Cash Flow) valuations. This comprehensive financial overview is critical for attracting investors, securing loans, and ensuring the long-term financial health of your business.

Template 10: Management Summary

The Management Summary slide introduces key individuals behind your business. It outlines the organizational structure, summarizes the professional backgrounds of your key team members, and clarifies their roles and responsibilities. Providing insights into your team's expertise and capabilities, this slide inspires confidence in your business's ability to execute the plan and achieve its goals.

Template 11: Exit Strategy

The Exit Strategy slide looks beyond the immediate future, providing a vision for your business's long-term growth and potential exit scenarios. It explains strategies such as Initial Public Offerings (IPOs), mergers and acquisitions, private offerings, or securing venture capital, demonstrating your preparedness for future success and offering a roadmap for investors and stakeholders regarding potential returns on their investments.

Walk the Talk: Transforming Potential into Shoe Business Reality

As we conclude this journey through the world of footwear, it's important to acknowledge that the shoe industry is, indeed, a dynamic and challenging landscape, where a few giants cast long shadows. What's clear from this exploration is that success in the shoe business is not limited to the privileged few; it is attainable through strategy, innovation, and commitment to excellence. The likes of Nike, Adidas, and Puma have paved the way, demonstrating the transformative power of strategic planning. Our Shoe Business Plan Templates are your catalyst for change, your passport to emulating the strategies of these industry legends. 

In the end, remember, potential is just that - potential. It needs action to transform it into success. Download our Shoe Business Plan Templates and embark on your journey to industry prominence.

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How to write a business plan for your shoe store.

Starting a shoe store is a great idea because it allows entrepreneurs to capitalize on the growing demand for shoes and create a unique shopping experience for customers.

Additionally, there are many different ways to market a shoe store and generate revenue, making it a potentially lucrative business venture.

But, before that, you need a business plan.

Creating a business plan is essential for any new project, as it helps to define the goals and objectives of the project, as well as the resources and strategies needed to bring it to fruition. A well-crafted business plan can also help to secure necessary funding for the project.

In short, a good business plan will help ensure the profitability of your shoe store .

What should be outlined in the business plan for a shoe store? How can it be effectively planned? What financial numbers should be included? What are some ways to build a solid business plan without investing excessive time?

Stay with us: we will answer all these questions!

One last thing: starting your business plan from scratch is not required.

Feel free to download our customizable business plan for a shoe store and adapt it to suit your business needs.

Elaborating a business plan for a shoe store

Is it worth considering a business plan for your shoe store.

Yes, you should definitely consider creating a business plan for your shoe store.

Constructing a sound business plan will empower you to:

• learn about the shoe store market
• stay on top of the industry's emerging trends
• highlight what makes a shoe store thriving
• understand the latest shoe trends and customer preferences in footwear
• come up with a winning value proposition for your footwear boutique
• evaluate competitive strategies
• explore strategic advantages for your shoe store
• find a business model that will make you profitable
• formulate a resilient strategy to achieve success in the short and long-term
• assess potential risks involved in operating a shoe store, such as inventory management, changing fashion trends, and customer preferences

Our team has created a business plan for a shoe store that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a shoe store?

A business plan presents a wide range of information, content, numbers, and financial data. It is important to have an orderly format for smooth reading and comprehension.

When we made our business plan for a shoe store , we structured it in a proper way.

We've divided it into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The first section is titled "Market Opportunity."

In this section, you will find valuable information and market trends for shoe stores, including footwear fashion, customer preferences, inventory management, and marketing strategies, guiding entrepreneurs in establishing successful and stylish shoe retail businesses.

The data here is always up to date; we update it biannually.

2. Project Presentation

The "Project" section provides an opportunity to describe your shoe store, highlighting the variety of footwear options available, including brands, styles, and sizes. You can also mention your knowledgeable staff, personalized fitting services, return policy, and the unique value proposition that ensures comfortable and fashionable footwear for your customers.

Also, provide a self-introduction at the end of this section.

Discuss your love for footwear, your range of shoe styles and brands, and how you plan to create a stylish and customer-centric shoe shopping experience. Highlight your knowledgeable staff, your comfortable fitting services, and your dedication to providing exceptional customer service that helps individuals find the perfect pair of shoes that express their style and elevate their confidence at your shoe store.

We created language in our business plan. Customize it to fit your idea perfectly.

3. Market Research

Next up is the "Market Research" section.

This section describes the target audience for your shoe store.

It includes a comprehensive analysis of competitors in the footwear industry and emphasizes your store's unique shoe selections and competitive advantages.

A tailored SWOT analysis is provided as well.

4. Strategy

The "Strategy" section presents a comprehensive 3-year action plan, outlining the initiatives and actions required to make your shoe store a highly profitable venture.

Furthermore, you'll find a marketing strategy, a risk management approach, and a Business Model Canvas tailored to a shoe store in this section.

5. Finances

In the end, the section titled "Finances" is where you can present the financial plan and breakdown for your project.

How to make the Executive Summary for a shoe store?

The Executive Summary is like an introduction to the business plan for your shoe store.

Make it short and focused, with a maximum of 2 pages. Include only the key features.

This is the opening statement that the bank will read first when you show them your business plan. It should make them interested and want to read the rest of the plan.

In the Executive Summary of your shoe store, answer these questions: what products does your shoe store offer? who is your target audience? are there other shoe stores in the area? what funding do you need?

How to do the market analysis for a shoe store?

Conducting a market study for your shoe store enables you to grasp external factors like customer demands for footwear, competition within the retail industry, and emerging trends in shoe fashion and design.

By conducting an extensive market analysis, a shoe store can understand customer preferences, offer a variety of stylish and comfortable footwear, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased sales, and a prominent position in the local shoe retail market.

You'll discover the following in the "Market Research" section of our business plan for a shoe store :

• interesting data points and market insights about shoe stores, including footwear fashion trends, shoe sales figures, and the impact of online shoe retailers
• a compilation of potential market segments for a shoe store
• the competitor study
• the potential competitive advantages for a shoe store

The key points of the business plan for a shoe store

What's the business model of a shoe store, business model of a shoe store.

A shoe store's business model revolves around selling a variety of footwear for different styles and purposes to customers. Revenue is generated through shoe sales, potentially offering additional services such as shoe fittings or repairs.

The business model focuses on offering a diverse selection of shoe brands and styles, providing exceptional customer service, creating an inviting store environment, effective marketing to target shoe enthusiasts, and building strong customer relationships based on trust and footwear expertise.

Success depends on staying updated with footwear trends, fostering relationships with shoe suppliers or brands, fostering positive customer experiences and recommendations, and continuously offering new and exclusive shoe products that cater to different customer needs, preferences, and fashion trends.

Business model ≠ Business plan

Business plan and "business model" are not interchangeable, so be careful.

A business model is a framework that demonstrates how a company operates profitably and adds value to customers.

In a business plan, you leverage the Business Model Canvas as a user-friendly framework to illustrate the structure of your business.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a shoe store .

How do you identify the market segments of a shoe store?

Market segmentation for your service provider business involves dividing your potential clients into different groups based on their service needs, industries, and preferences.

These categories may include factors such as business services, home services, personal services, or clients seeking specific service specialties (e.g., consulting, maintenance, coaching).

By segmenting your market, you can offer specialized services and solutions that cater to each segment's specific requirements. For example, you might focus on business services and provide consulting, marketing, or IT solutions for companies, offer a range of home services such as cleaning, repairs, or landscaping for homeowners, specialize in personal services such as coaching, tutoring, or wellness services, or focus on specific service specialties to address the needs of clients, such as accounting services, legal services, or event planning.

Market segmentation allows you to effectively target your marketing efforts, communicate your expertise and the benefits of your services, and provide reliable and tailored solutions that meet the unique needs and preferences of each client segment.

In the business plan for a shoe store , you will find a comprehensive market segmentation that will help you identify your potential customers.

How to conduct a competitor analysis for a shoe store?

Without surprise, you won't be the only shoe store in your market. There will be other retailers offering a variety of footwear options for men, women, and children.

Your business plan should involve a close examination of your competitors, assessing their strengths, weaknesses, and key qualities.

Take stock of their weaknesses (such as limited shoe selection, inadequate sizing options, or poor customer service).

Why should you pay attention to these points? Because these weaknesses can impact customer satisfaction when shopping at shoe stores. By addressing these aspects, you can offer a diverse range of high-quality and fashionable shoes, provide expert fitting and sizing assistance, and deliver exceptional customer service, positioning your shoe store as a go-to destination for footwear that combines style and comfort.

It's what we call competitive advantages—invest in cultivating them for a standout business.

Here are some examples of competitive advantages for a shoe shop: wide variety of footwear options, expert shoe fitting services, exceptional customer care.

How to draft a SWOT analysis for a shoe shop?

A SWOT analysis can help identify the strengths, weaknesses, opportunities, and threats of starting a shoe store, which can be used to develop a successful business strategy.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a shoe store

The strengths for a shoe store

The "S" in SWOT represents Strengths, indicating the project's internal factors that set it apart from competitors.

For a shoe store, possible strengths could include a wide variety of sizes, a broad selection of styles, knowledgeable staff, and competitive pricing.

The weaknesses for a shoe store

The "W" symbolizes Weaknesses, indicating the specific areas or aspects of the project that need some attention.

For a shoe store, potential weaknesses could include a limited selection, limited sizes, inadequate customer service, and high prices.

The opportunities for a shoe store

When we refer to the "O" in SWOT, we are talking about Opportunities, which are positive external circumstances for the project.

In the case of a shoe store, potential opportunities could include offering exclusive online sales, providing custom shoe fittings, offering a loyalty program, and expanding into new markets.

The threats for a shoe store

When we mention the "T" in SWOT, we're referring to Threats, which are the external risks or negative factors that can impact the project's performance.

How to develop a marketing plan for a shoe shop?

Developing a marketing strategy enables entrepreneurs to establish clear marketing objectives and measure their progress towards achieving them.

A shoe shop can attract footwear enthusiasts by developing an effective marketing approach that highlights the shop's wide selection of fashionable and comfortable shoes, including popular brands and limited-edition releases.

Shoe enthusiasts won't shop at your shoe shop without effective marketing; showcasing the stylish and comfortable footwear options, variety of brands, and excellent customer service is necessary.

Have you explored marketing approaches to attract customers to your shoe shop? Consider offering personalized shoe fittings or consultations, showcasing the latest shoe styles and trends on social media, and running targeted advertising campaigns to reach your target audience.

Don't worry if you have no knowledge of marketing and communication.

How to build financial projections for a shoe shop?

A solid business plan must include detailed financial information such as projected income, expenses, cash flow, and balance sheets.

As part of your business plan, it will be necessary to forecast the revenue for your shoe store.

It's important to create a revenue forecast that is relevant and trustworthy.

Our financial plan for a shoe store is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

It goes without saying that you should create a preliminary budget for launching your shoe store. Double-check that you haven't missed any expenses. If you have a doubt, we have listed them all in our financial plan!

By conducting a break-even analysis, you can assess whether your shoe store will be profitable or not.

• Choosing a selection results in a full page refresh.
• Opens in a new window.

How to Start a Footwear Business in India? [Investment, Profit]

Footwear are trending these days, gone are the days when shoes served only their practical purposes. Today, shoes are worn as an accessory not just by women but men too. There are a variety of shoes available for different occasions, from a wedding to a sports event to a job interview, the list goes on. Since the demand for footwear exists and can continue to rise, starting a shoe business sounds like a good deal. Decide your niche area, whether you want to sell fancy/ party wear shoes or formal shoes, will the target audience be men or women or both, etc. Through this article, we’ll give you an insight into what important points you should consider before starting your footwear business and how you can start a footwear business in India.

Things You Need to Keep in Mind Before Starting a Footwear Business

Online or offline footwear business:.

• Online business: The biggest advantage of opening an online business is that there are no rental, electricity, or construction and maintenance expenses involved. An online business can be run from your home itself; all you need is a website, and you’re good to go. Your website should be user-friendly and should look neat. Good social media marketing is needed for the success of an online footwear business.
• Offline business: The offline footwear business operates in the retail market. Therefore, the first thing you’ll need would be a shop, from where you can sell your products to the customer. This shop should be at least 150 - 200 sq. ft. in area.

Define your target audience:

Defining the target audience helps you to invest your time, money, and energy in the right direction. You cannot be everyone’s favourite, thus, offer your products or services to those that you think would appreciate it. Having said that, as a business owner, you must decide who you want to sell your products to; whether the footwear is to be made specifically for kids, adults, middle-aged people, or for the elderly. You can also categorise your audience according to their sex, income, or any other criterion as per your plan. Hence, instead of beating around the bush, try to keep your plan simple and realistic.

Source of funding:

There are various sources of funding available in the form of business loans, Government grants, friends and family assistance, or your savings. Depending upon your financial health, decide the source of funding you would prefer for starting your business.

Identify your competitors:

Carry out the market research and examine the business model of your competitors. A footwear business is not a new concept, which means that there will be plenty of domestic as well as global rivals. Therefore, it’s important to decide who you want to compete with. If you are manufacturing the shoes for masses, i.e., where people from the lower-income group can also afford to buy that footwear, in that case, your direct competition would be the local retailers.

However, if you want to create a brand and offer your products to higher income groups of the society, you’ll be facing excessive competition from global as well as domestic brands.

Next step would be to visit the rival retail stores to observe their customer base, as these customers will be your target audience. List down the strengthens and weaknesses of these stores, and look for opportunities and threats. Do a SWOT analysis. (SWOT stands for the strengths, weaknesses, opportunities, and threats of your organisation)

Marketplace:

After you’ve researched and worked upon the above-mentioned points, the last thing you need to keep in mind is the location. A location can either make or break your businesses prospects, so think wisely while making location-related decisions. It is advisable to set up your shop near any busy street, such as a supermarket. You can also open your store next to any IT park or any working area, where the crowd is easily visible.

After preparing a blueprint of your business strategy and availing the funding required to start the shoe business, the next step is to get your business registered. Let’s look at how one can register their retail business in India.

Also read: Shoe Manufacturers in India

Shop Act-License:

This is one of the most vital legal requirements for starting any business, as you can sell your product with this license. This license is also known as Ghumasta or Gumasta license in other parts of India. The registration process for this license can be completed by filling up the Shop-act Form as per the Shop Act of the state where you’ll be setting up your business in and by submitting the following documents -

• Application letter to the municipal corporation of your state.
• Documents, such as identity proof (PAN, Aadhar, etc.), address proof (electricity bill), proof of the property/ establishment (shop picture) are needed.
• Authority letter for business.

GST number:

Every wholesaler and retailer has a GST number. To obtain a GST number, you’ll be required to show a Shop license. Reach out to a CA, who can help you in generating a GST number or you can simply visit www.gst.gov.in . Click on new registration, and a form will appear. Fill the required information in the form. Please note that the location column should include the name of the state where you want to do your business. Next, you’ll be asked to verify the OTP, which will be sent to your mobile number or email address. After completion of this process, a temporary reference number (TRN) will be generated (remember to copy-paste the TRN on your clipboard). Further, you’ll be required to fill in your just generated TRN. Click on proceed and verify the OTP once again.

A dashboard will appear after finishing the process. Your application form and expiry date of the application form will be shown on that dashboard. Fill the accurate information in that application form, and after verifying your e-signature, your application will be submitted successfully.

Current account:

Current account is an account used by business owners. Just like a savings account is used to promote savings and investments, the current account is used to promote businesses. It is a deposit account, which can be opened with any bank to manage your business transactions. The difference between a current and savings account is that you don’t get interest in the former. A minimum balance is required to be maintained under the current account (like, SBI has a minimum requirement of INR 10, 000).

The best part is that unlike a savings account, where there is a set limit for day to day transactions, you can perform unlimited transactions per day under the current account if you are making payments through cheques or online payments. The facility of online banking and overdraft facility up to a pre set limit is available.

Marketing the business:

Once you’ve completed all the legal processes and are now ready to operate your business, the next crucial step is marketing! As already mentioned before, in the footwear business, you are going to face a lot of competition, since it doesn’t fall under a unique business category. Therefore, to get your business going, you’ll need to market your footwear.

The best option would be to opt for digital marketing; upload pictures of your product on Instagram, Facebook, Pinterest, etc., to promote your business. These advertising methods are cost-effective compared to traditional marketing techniques. Set up a footwear page on Instagram, hire some micro-influencers to create a brand image and there you go!

Before starting any business, it’s important to have a well-planned strategy ready so that you can create your services and products according to your target audience as well as choose the best source of the available funding. Starting a business is not rocket science, however, making it capable of growing and creating goodwill is not easy. The competition is extremely high, and those with a proper plan and robust strategy are likely to thrive.

Also read similar how-to guides on:

1) Kirana Business 2) Dropshipping Business 3) Food Delivery Business 4) Car Dealership Business 5) Artificial Jewellery Business 6) Best Shoe Brands in India

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more! Download OkCredit now & get rid of your bookkeeping hassles. OkCredit is 100% Made in India.

Q. What are the requirements for starting an online shoe business?

Ans: A GST number is mandatory. Apart from that a domain name, business formation papers, website, necessary sales tax and licensing requirements, workspace, and packaging materials are needed.

Q. How can I register my eCommerce footwear business?

Ans: Government registration is important. You can complete this process on your own without needing to hire a CA. There are four types of online registrations, namely, sole proprietorship, registered partnership, LLP partnership, and private limited company. The registration process is similar to any other offline business. If you are running a small eCommerce business, choosing sole proprietor and registered partnership options are more suitable.

The process can be completed on the website: www.incometaxindiaefiling.gov.in . Here, you can register any type of firm, and you can also generate your GST number.

Q. How many days does it take to complete the online registration process?

Ans: The process takes a minimum of 7 days to a maximum of 21 days to complete.

Q. Do I have to pay extra charges for opening or maintaining a current account?

Ans: No, you don’t need to pay any extra charges.

Q. How many current accounts can a business create?

Ans: Usually, banks insist on opening a single account with one bank. However, if you require multiple accounts, you can open them with different banks. But, you’ll need to disclose these multiple current accounts to the banks from where you enjoy credit facility.

Read the best of business ideas, tips for small businesses, the latest update on technology & more by OkCredit.

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Competitive Analysis for a Shoe Store (Example)

• May 20, 2024
• Business Plan , Competitive Analysis

A competitive analysis is not just a tool for gauging the position of your shoe store in the market and its key competitors; it’s also a fundamental component of your business plan.

This analysis helps in identifying your shoe store’s unique selling points, essential for differentiating your business in a competitive market.

In addition, the competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.

Shoe Store Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Identifying Your Competitors in the Shoe Store Industry

Identifying competitors is the first step in understanding your position in the shoe store market. Begin by mapping out local shoe stores and footwear retailers. For instance, if your store specializes in high-end fashion shoes, your direct competitors include nearby boutiques known for their premium shoes, as well as larger retail chains that offer a wide range of footwear. Don’t overlook indirect competitors such as department stores and online retailers that offer extensive shoe collections.

Use online tools like Google Maps to get a geographical sense of competitor distribution. Platforms like Yelp and TripAdvisor offer customer reviews and ratings, providing insights into competitors’ strengths and weaknesses . For example, if several reviews commend the stylish selection and customer service at “Urban Sole,” this is a key strength of your competitor.

Shoe Store Competitors’ Strategies

Analyzing the strategies of these competitors involves several aspects:

• Product Range: Examine their range of footwear. If “EcoStep” is gaining popularity with its sustainable and eco-friendly shoes, it indicates a market trend toward ethical fashion.
• Merchandising: Consider the merchandising and display techniques. A store like “Footwear Trends” that focuses on trendy, seasonal displays might attract fashion-forward customers, while “Comfort First” might appeal to those looking for practical, comfortable shoes.
• Pricing Strategy : Compare your prices with those of competitors. Are your shoes priced similarly to “Value Feet” or are they more aligned with the premium offerings at “Designer Shoes Boutique”?
• Marketing Tactics: Look at how competitors market their products. Do they have a strong social media presence, or do they rely more on loyalty programs and in-store promotions?
• Customer Experience: Assess the in-store experience. For instance, “Friendly Footwear” might be known for its personalized fitting services and knowledgeable staff, enhancing the shopping experience.
• Operational Efficiency: Observe if competitors are using technology or innovative processes to streamline shopping and purchasing, such as “Quick Step Shoes” with its online inventory check and in-store pickup options.

What’s Your Shoe Store’s Value Proposition?

Reflect on your store’s unique value proposition . Maybe your shoe store is known for its exclusive designer collaborations, or perhaps you offer a unique range of custom-fit shoes that aren’t available elsewhere in your area.

Identify market gaps through customer feedback and industry trends. For example, the growing interest in sustainable and ethically-made footwear could represent a market opportunity if competitors are not addressing this demand.

Consider your location: A shoe store in a busy urban area might focus on trendy, fast-fashion items, while a store in a suburban neighborhood could capitalize on offering a wide range of sizes and styles for families.

How To Summarize It All In Your Business Plan?

Competitors’ strategies and market positioning can be superposed with your own shoe store’s value proposition by laying out on a page (or a presentation slide) the main differentiating factors. These factors will show investors and banks:

• How each competitor is positioned in the market
• How your shoe store compares vs. competitors (what’s your value proposition )

In a competitive analysis, various parameters are used to compare and contrast your shoe store with its competitors. The parameters listed below are examples of what you might include in your analysis. 

They are not exhaustive but serve as a guide to help you understand key aspects to consider. Each parameter provides insights into different facets of the competitive landscape, helping to paint a comprehensive picture of where your shoe store stands.

The location of a shoestore significantly influences its success. It affects foot traffic, accessibility, and the type of clientele attracted. For example, a shoestore in a high-traffic shopping mall might attract a broad range of customers, while one in a trendy urban area might appeal to fashion-conscious individuals.

Moreover, location plays into logistics like supply chain efficiency and proximity to suppliers. A store located near major transportation routes can benefit from easier and faster deliveries.

Product Range

The variety of products offered is a key differentiator. It reflects the store’s ability to cater to diverse customer needs and preferences. For instance, a store offering athletic shoes, formal footwear, and casual sneakers appeals to a wider customer base, from athletes to office workers.

This parameter helps identify market trends and potential gaps. If most competitors focus on a particular type of shoe, introducing a unique or specialized product line can capture a new customer segment.

Target Market

Understanding and defining the target market is crucial. It influences product selection, marketing strategies , and overall store ambiance. For instance, a shoestore targeting young professionals might focus on stylish yet comfortable footwear, while one targeting families might offer a broad range of affordable options for all ages.

This parameter helps tailor the business to meet the specific needs and preferences of the intended audience.

Type of Retailer

The type of retailer (e.g., boutique, chain store, online retailer) significantly impacts market positioning and customer perception. For example, a boutique store might emphasize unique, high-end products and personalized service, while a chain store could offer a wide selection of popular brands at competitive prices.

This parameter highlights the operational model and strategic focus of the business.

Online Shopping

Offering online shopping capabilities is essential in today’s digital age. It extends the store’s reach beyond its physical location and caters to the growing number of customers who prefer shopping online. For instance, a store with a user-friendly e-commerce platform can attract tech-savvy customers and those who value convenience.

Conversely, a store without an online presence might focus more on creating an exceptional in-store shopping experience.

Special Features

Special features can set a shoestore apart from competitors. These might include custom shoe fitting services, exclusive product lines, or loyalty programs. For example, a store offering 3D foot scanning for personalized fit recommendations can attract customers looking for a perfect fit.

This parameter highlights unique selling points that can enhance customer satisfaction and loyalty.

Square Footage

The size of the store indicates its capacity to display and stock a wide range of products. A larger store can offer a more extensive selection and a spacious shopping environment, while a smaller store might focus on a curated selection of high-demand items.

This parameter helps in understanding the scale of operations and potential customer experience.

Google Reviews

Customer ratings reflect satisfaction and reputation. High ratings often indicate good service and product quality. For instance, a shoestore with a high Google rating is likely to attract new customers based on positive reviews.

This parameter is crucial for understanding public perception and can guide improvements in service and product offerings.

Other Comparison Factors

In addition to the parameters discussed, there are several other factors that can be included in a competitive analysis to provide a more comprehensive view:

• Marketing Strategies : Understanding how competitors market their products can offer insights into effective advertising channels and promotional tactics.
• Customer Service : Evaluating the level of customer service, including staff friendliness and responsiveness, can highlight areas for improvement in your own business.
• Brand Presence : Assessing the online and offline presence of competitors, including social media activity and community engagement, can inform your branding strategies.
• Product Innovation : Keeping track of new product launches or unique offerings by competitors can inspire innovation and help in staying ahead of market trends.
• Supplier Relationships : Information about suppliers and partnerships can reveal insights into product quality, sourcing ethics, and cost efficiency.

Privacy Overview

Simpson Shoes closes its doors in Lambton after three generations and more than 90 years

In 1931, when Craig Simpson's grandfather opened his boot-making business in suburban Newcastle, he may not have expected it to continue for almost a century.

Simpson Shoes in Lambton closed its doors for the last time earlier this month, ending a legacy that spanned more than 90 years and three generations.

Its final owner, Craig, said sadly he doesn't see a future in the shoe business anymore as online shopping and the creation of large shopping centres have "changed" the retail sector.

Mr Simpson has fond memories of helping out his father and grandfather in the shop as a teenager. 

He would watch his grandfather Stephen tinker for hours in the back of the shop repairing and making shoes for his customers.

"You don't see it done like that anymore," Mr Simpson said.

His grandfather was a bootmaker, a trade that is hard to come by these days. 

Mr Simpson said he loved to watch his grandfather create shoes from scratch, many of which ended up on his own feet.

"He never wore a pair of shoes he didn't make," he said.

Simpson Shoes began in 1931 after Stephen completed his boot-making apprenticeship.

"He rented out a little shed in the backyard of the Northumberland Hotel, the pub around the corner from where the shop is now 93 years later," Mr Simpson said.

Stephen bought and moved to the shopfront at 100 Elder Street in April 1934, where it remained until its recent closure.

A family business 

Stephen Simpson worked in the shop repairing shoes for more than 70 years, until he was in his late 80s.

His son, Kevin Simpson, also followed in his footsteps.

"Dad also did his trade as a shoe repairer," Mr Simpson said.

"He could see the sale of new shoes was worth getting into.

"So he ran the shop selling new [mass-produced] shoes, and Pop kept doing the repairs."

Mr Simpson was about 16 years of age when he started working part-time at the shop and took over the business in his early 30s.

Now, after 47 years working at the shop, he has decided to retire. 

"It is sad, but it's a personal decision. It's just time to get out and enjoy doing other things," he said. 

Mr Simpson said independently-owned shoe shops have become a rarity. 

"Twenty years ago there used to be a shoe store in nearly every suburb in Newcastle," he said.

"There's very few of us left now."

In a region with more than 500,000 residents, just four independently-owned shoe shops remain across Newcastle and Lake Macquarie. 

Impact of online shopping 

Mr Simpson said the biggest impact on the business was the creation of online shopping.

"We would have people come in and try on a shoe, just to find the right size, and leave," he said.

"You would know they were off to buy it online and save, say, $20.

"I know everyone is paying more for things at the moment and they want to save where they can … but people don't realise how that extra money could help a small business."

The onset of large shopping centres also impacted the business. 

"The big, major shopping malls have sprouted up all over the city and all the chain stores are, of course, in those centres," he said.

"People go there because they can get everything they want all in the same place."

Mr Simpson said chain stores often could not offer the same service as experienced family businesses could.

"When you've seen how shoes are made and repaired you know the ins and outs of shoes and footwear. So you know exactly how they fit," he said. 

"You can pass that experience on to the customers when you're selling the product."

One customer, Elaine, had shopped at the store across the three generations of ownership.

Mr Simpson recalls serving older customers from their cars if they couldn't come into the shop.

"We were happy to do that. That is the service you just can't get at chain stores," he said.

"And that's what I've loved — helping people and helping them fix their foot problems."

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Store closures are surging this year. Here are the retailers shuttering the most locations.

By Aimee Picchi

Edited By Alain Sherter

Updated on: May 13, 2024 / 1:33 PM EDT / CBS News

The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis. 

That's a 24% increase from a year ago, according to a report from retail data provider CoreSight, which tracks store closures and openings across the U.S. Although some retailers are planning to expand this year, major chains have announced 4% fewer openings compared with a year earlier, the analysis found. 

Blame changing consumer habits, as well as retailers' management struggles and bankruptcies, with the latter impacting companies including Rite Aid and Rue21. The largest number of store closures stems from Dollar Tree's announcement earlier this year that it plans to close more than 600 Family Dollar locations in 2024, with the discount store citing the impact of inflation on its customers as well as an increase in shoplifting.

"A lot of this year's closures are related to bankruptcies of chains that have been in trouble for a while, like Rite Aid and Rue21," Neil Saunders, managing director of GlobalData, told CBS MoneyWatch. "We're also seeing several retailers, like Family Dollar, take action to weed out underperforming locations." 

Although consumer spending has remained solid this year, there are "pockets of softness creeping in, and retailers want to ensure they are in good financial shape to weather any challenges" Saunders added. "That means optimizing store portfolios."

Brick-and-mortar retailers are also struggling with ongoing competition from online rivals such as Amazon.com. 

By contrast, some companies blundered strategically, such as Express, which filed for bankruptcy last month and announced plans to close 100 of its 500 locations. The clothing chain, known for its workplace fashion, failed to connect with consumers after the pandemic ushered in working from home, Saunders said.

That put the company "firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt," he said in a recent research note. 

Are consumers cutting back?

Recent data shows that Americans are still opening their wallets. Consumer spending in March  rose 0.8%  (the most recent data available), which economists say represents solid growth.

But some signs consumers are starting to fade amid a modest economic slowdown. On Friday, the University of Michigan's Surveys of Consumer sentiment index for May dropped to 67.4, the largest monthly decline since mid-2021. Confidence is dipping because of expectations for higher inflation and softer growth, said Jeffrey Roach, chief economist for LPL Financial, in an email.

"Uncertainty about the inflation path could suppress consumer spending in the coming months," he noted. 

Consumers have also spent down any remaining extra money they socked away during the pandemic, when federal stimulus checks and other benefits bolstered their bank accounts, Roach said in an earlier report.

"[T]here are potential risks to consumer spending," he said. "When households exhaust these accumulated savings, it could lead to a decline in discretionary spending."

Even so, some retailers are planning to open hundreds of new stores, CoreSight found. Dollar General, a rival of Dollar Tree, said it will add more than 800 locations this year, putting it at the top of the list of retailers opening new stores this year, according to the research firm.  

In second place is 7-Eleven, which plans to open more than 270 U.S. locations this year, followed by discount store Five Below, with plans to open 227 outlets, the analysis found.

• Family Dollar
• Dollar Tree

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

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