A successful shoe store requires a combination of an accessible location, low overhead, purchasing power, and a robust marketing campaign. If you are seeking investment, your business plan should outline how the shoe store will outperform the local competition and Internet retailers through these dimensions.
Part 1 Part 2 Part 3 Entering the shoe retail business is fairly easy. There are no significant barriers to entry such as stringent government regulations or prohibitive capital expenses.
You can start your own shoe store even without a high initial capital investment, depending on your inventory selection and store location.
The shoe retail business is comprised of a large number of small independent retailers.
Here are some of the steps you need to take when starting your own shoe store: Writing the Business Plan Every business must start with the business planning process. The business plan is the roadmap of your business, where you will define your business, and outline the steps that can lead you to succeed.
This is especially important if you are planning to seek financing for your store, as banks and investors would want to see a detailed plan of your business.
The benefits of a business plan are that it forces you to really think hard about your business, helps you identify early on the challenges that you might meet, and enable you to craft strategies that may help you overcome the challenges and bring your business to the next level.
For details on how to start a business plan, please visit Small Business Planning. Business Registration and Licensing The next step is to make your business legal and compliant with government rules and regulations. While different states, cities and counties have different rules, below are some common steps you need to take.
However, it is best to check with your local government for the actual steps required of your new business.
Read the article Small Business Legal Checklist. You need to register your business for tax purposes and receive the necessary forms for withholding income tax and unemployment tax from the wages of all employees.
Depending on your location, you can either do this by mail or walk-in registration. In Washington DC, for example, walk-in registrations are quick whereby you can immediately get your business tax number and a temporary certificate of registration if a business license is required.
Depending on your state, this process is often done in the office of tax and revenue. If you are operating a sole proprietorship and partnership, business name registration is one and the same as the business registration.
An additional step, however, is required for corporations and limited partnership. They are required to conduct a name search to determine availability of the corporate name. Corporations; limited partnerships; limited liability companies L. You may want to seek the help of a lawyer to help you process the documents required.
Before you can open your doors to the public, you are likely to require a business license. Your business may be subject to fines if you fail to get the necessary licenses. Check with your local government their requirements for getting a license. Given that shoe stores typically occupy commercial space, you will be required to get a certificate of occupancy.
Check with the permit processing offices of your local government. Note that you may be required to get a Building Permit and have your property inspected if you plan to make renovations to the store area.
Finding the Right Location The right location is extremely critical to the success of your shoe retail store. Given the importance of this decision, you need to carefully evaluate your choices, making sure that the location you find can attract a lot of traffic and safely accessible to customers.
Below are factors you need to consider when selecting your location: Your space requirements e. Availability and adequacy of parking avoid choosing locations that restricts your store to 2 parking spaces only Population density of the area Safety of the area, particularly at night adequate lighting, police and security guard protection, etc Ability to attract employees If location is remote, amount of advertising needed to attract foot traffic Reputation of the landlords Performance of other retailers in the area are stores closing fast in the area?
Presence of complementary retailers that targets same market e. Merchant or business associations that could help promote your store Future developments in the potential store area any planned zoning changes, street construction, etc.
As a potential storeowner, you will be asked to demonstrate your financial capabilities and merchandising experience. They will also look at your product line. The size of the shopping mall and its ability to absorb similar stores can also factor in the decision: If possible, hire a lawyer to help you go through the lease provisions.
Look at the occupancy date, renewal or termination of lease terms, leasing costs, and tenant improvements to be shouldered by the landlord, liability, among others.Online Shoe Store Business Plan – 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. Here are some of the steps you need to take when starting your own shoe store: Writing the Business Plan.
Every business must start with the business planning process. The business plan is the roadmap of your business, where you will define your business, and outline the steps that can lead you to succeed.
This is especially important if you are . One, Two, Step! is a start-up, sole-proprietor, home-business selling women's shoes and accessories.
Women's Boutique Shoe Store Business Plan Sample - Company Summary | Bplans One, Two, Step! women's boutique shoe store business plan company summary. Shoe store makes decent money among all other stores; do you wish to start a shoe business? Looking for information to open a shoe shop?
Help you find tips on starting a shoe business. The Athlete's Foot is a new franchise retail athletic shoe store. Athletic Shoe Store Franchise Business Plan Sample - Executive Summary | Bplans The Athlete's Foot athletic shoe store franchise business plan executive summary. Online Shoe Store Business Plan – Executive Summary Louis & Louisa Shoe Store®, Inc.
is a standard and registered shoe retail store business that will be located in one of .