Shoe is one very essential accessory that we all cannot do without. This is because of the importance to keep our feet protected from the bare floor. A research conducted in the United States of America found that in 2008, Americans bought 2.2 billion pairs of shoes. This may sound sort of weird, but the fact remains that shoe business is indeed a very profitable one.
According to American Apparel and Footwear Association, women’s non-rubber footwear was the most bought at 886 million pairs. Fast forward to the present times and you would find that these numbers are being multiplied every year. Therefore, it is very necessary that as one who is looking of a profitable business to venture into, this might not be a bad idea.
You can take advantage of this industry and become an industrialist by starting your own shoe line. However, it is pertinent that you have a passion for this trade, so that you do not end up frustrated when things aren’t adding up just yet. This is because there are teething stages in every business, and the shoe line trade isn’t an exception at all.
Therefore, if you are determined that this is one business you want to take a shot at, then you may want to really make the following tips yours. Also do take note that you would need a good amount of money to start out well.
Starting a Shoe Line – Sample Business Plan Template
1. Carryout A Market Research
You will need to do some market research, this is so that you are able to identify your potential customers and target market. Also you need to note that your findings would also help you determine whether you want to have a shoe brand for only men, only women, and both, as well as other types of shoes. There are loads of books that can be found on this. One other way to get quickly informed about shoes in through the internet.
2. Work or Volunteer to Work with a Shoe Designer
3. Write Business Plan
This is very important in this line of business, especially if you want to go far in it. Your business plan should contain information like the market strategy your shoe brand would take. Would it be to the target market through shoe stores or direct sales? Your advertising styles, the amount required to start out, the types of equipment to use, the short term goals and long term goals of your business.
4. Register Your Brand Name
Now that things are looking up, then your next assignment would be to register your business and brand. This can be done at the chamber of commerce of office in your country, or the corporate affairs office as the case may be in some other countries. You have got to thoroughly complete then forms that you are given so that your details may be well documented. After your business is registered, then you need to trademark your shoe brand.
5. Get a Space
Starting a shoe line means that you have got to operate from an office. What this means is that if you decide to own a factory that makes these shoes, then you would require a space big enough to contain your machines and workers. On the other hand, if you just want to be saddled with drawing up the designs, you also would need an office space. Therefore, whichever you decide, you would need to ask your realtor to help you pull things off.
6. Get a Manufacturer
This is especially important if you want to be the designer. Therefore you would need to spot a shoe manufacturer who can execute the shoe designs you agree on. You may consider a smaller shoe manufacturer for a start and then proceed to a bigger manufacturer when your brand picks off.
7. Set Prices
For you to do this effectively to set the prices for your shoes, you have got to look at shoes in your brand. Do ensure that the prices should be suitable for the market you have in mind, and also cover the manufacturing cost of the shoes, as well as meet your overhead.
8. Print Logos
Your next port of call would be to engage a graphic designer to make a logo for your shoe brand. You may consider checking with the Patent and Trademark office of your country to make sure your brand name is a distinctive one that no other company uses. Do ensure that you do not choose a name that already in use so that you do not face legal implications.
9. Start Production and Advertise
Now that things are looking up, then you may want to consider commencing production. Whilst production is under way, then you can start advertising your business. What are the ways that you can possibly adopt to do this?
You can use the social media platforms to pull things off here. You can use Twitter, facebook, instagram and what have you. You may also want to consider making all and sundry know by word of mouth what you do. You can ask that family and friends use your products as their profile pictures. This is vital because the more people know about the shoes you present; the more likely the demand for it soars.
There you have it. 9 sold steps that you should take to start and build a successful shoe line. Do note that you got to be open to new ideas and trends in the industry by staying abreast with the news in this trade. One of the ways to do that is to join the shoe production association in your country.