How to Start a Shoe Store Business

A wide variety of shoe stores are available to consumers, from those made just for babies to shoe stores for brides and grooms. A shoe store is versatile, in that it can be operated physically within your local community or online, where you can service customers worldwide. Opening a shoe store requires planning and a good deal of preparation, but it can be a lucrative way to make money. If you are into fashion and looking to start a retail operation, opening a shoe store may be the ideal business for you.

Step 1

Target a niche of shoes to sell. For instance, you can sell orthopedic shoes, designer women's shoes, toddler and children's shoes or formal men's shoes.

Step 2

Write a business plan for your shoe store business, including marketing and public relations plans, analysis of competing shoe stores, details about your target market and niche, three-year expense budget and profit projections.

Step 3

Obtain the permits needed in your state to start a retail business. Depending on where you live, this may include a resale permit, state tax identification number, Employer Identification Number or assumed name certificate.

Step 4

Open accounts with wholesale distributors of shoes. You can find such companies online, and if you live in a major metropolitan area, there may be local vendors available. Ensure you buy your inventory wholesale, at a discount of 40 percent to 60 percent off retail price, to make a profit.

Step 5

Lease a storefront for your shoe store. Alternative selling venues include online auction sites, your own e-commerce store or a flea market stall. When choosing a selling venue, keep your target market in mind. For example, selling designer shoes at a flea market likely won't work well, but selling discounted kid's shoes at a flea market would be a better idea.

Step 6

Decorate your store in an attractive way, and logically organize your inventory of shoes. For instance, if you open a children's shoe store, use vibrant decor, set up a children's play area, place shoe measurement guides throughout the store and separate the toddler shoes from the shoes for older children.

Step 7

Promote your shoe store business. Open accounts on social networking sites to connect with potential customers, launch a website and offer a newsletter with exclusive discounts for subscribers or place fliers and coupons in complementary local businesses, such as beauty salons, clothing stores and jewelry shops.

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