I would like to open a small, unique shoe store. How can I get a quick start?
E D asked:
I have the opportunity to take a chance on something new and I would like to jump right in. Shoes are a passion and the town that I am looking at for location has nothing in the way of shoes, but is becoming a very popular place to find cool and unique clothes, housewares, etc. It seems like a good time to get in.
I have the opportunity to take a chance on something new and I would like to jump right in. Shoes are a passion and the town that I am looking at for location has nothing in the way of shoes, but is becoming a very popular place to find cool and unique clothes, housewares, etc. It seems like a good time to get in.
I have been looking into prosper.com for financing and have spoken to some people in the business regarding purchasing–getting a lot of mixed messages in that area…
Musical Instruments Shoppe
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Personal Care Shoppe
I suggest you start by researching more about the topic. Here are some articles on how to start a shoe retail store
Starting a Shoe Retail Store
Shoe Store Business Plan (paid)
To get ideas of the latest footwear styles and to develop contacts and find suppliers in the shoe retail industry, it is important that you attend any or all of the important trade shows in this industry (participation of which also depends on the availability of resources for your travel, accomodation and trade show fees):
- World Shoe Association the largest and most comprehensive footwear and related accessories event (they just had their big annual event)
- Magic Marketplace – mainly apparel and accessories, though includes footwear as well
- Fashion Footwear Association of New York – largest shoe show in the East Coast
- Shoe Market of the Americas – held 3 times a year in Miami
- North American Shoe and Accessories Market – the 10th largest shoe show in the world
- Los Angeles Shoe Show
- Southwest Shoe Expo – held 5 times a year at Dallas World Trade Center
- Chicago Shoe Expo – a small regional trade show held 4 times a year in Chicago
- Micam Shoevent – international trade show for medium to high end footwear held twice a year in Milan
- GDS – the premier shoe event held twice a year in Dusseldolf, Germany
You may also want to check out the following Trade Associations:
- National Retail Federation
- America Apparel and Footwear Association…
- Electronic Retailing Association
- National Shoe Retailers Association
You may also want to read the books:
- Profitable Footwear Retailing
- The Complete Footwear Dictionary
- Clothing and Footwear Industry: Market Review
- Footwear Retailing
You may also want to subscribe to trade magazines such as Focus on Shoes as wholesalers advertise on their magazine
If you’re looking for financing, I suggest you check out with the nearest Small Business Development Center in your area — they can advice you where you can possibly secure financing, and can help you prepare documentation for your SBA loan should you seek one
Musical Instruments Shoppe
Sounds like you need a small business loan from a bank to me. As long as you present a marketable idea in front of the loan officers, you should have no problem qualifying for a loan. Remember though that you will have to pay back the loan plus a little interest, but if the shoe business is as profitable as you suggest, you should have no problem making the $$$ money $$$ back. Good luck!
Housewares Shoppe
read tips and articles on business, financing, and much more to help you on this site
Gourmet Food Shoppe
Find the source is a key point.
Product Review Blogs
Offer a well-regarded store you admire (in another town) an opportunity to franchise. You run the new store, with the advice and support of their management team, and you pay a fee for using their advice and name (which is worth something) and their credibility.
A franchise lawyer can help you set this up. Do be aware that being a franchisee can be the first step towards your OWN seperate dream (or it may be the best answer at lowest risk). With the franchise owner, be careful to follow their guideines and branding images. The footwear business is a small one, and vendors talk to owners…you want an impeccable name and references or you won’t get the right brands or the premium styles.
Good luck! And be sure to always greet everyone who comes in the store, and have ideas ready like “pedicure night” (no polish) with the purchase of a pair of shoes, or have a shoe designer and doctor come talk about heels – pros and cons. Serve wine and sparkling water – make your store more than someplace for transactions, but a place for learning and exchanges on fashion, shoe repair tips, etc. (Shoe repair is increasingly hard to find, and easy to learn. Might be something you can set up in the back to do small repairs at nominal fee as a courtesy, with purchase of other shoes)….