Shoes are one essential accessory that we cannot do without. This is because of the importance of protecting our feet from the bare floor. Research conducted in the United States of America found that in 2008, Americans bought 2.2 billion pairs of shoes. This may sound weird, but the fact remains that the shoe business is indeed very profitable.
American Apparel and Footwear Association states women’s non-rubber footwear was the most bought at 886 million pairs. Fast forward to the present times, and you will find that these numbers are multiplied yearly. Therefore, it is essential that as one who is looking for a profitable business to venture into, this might not be a bad idea.
By starting your shoe line, you can take advantage of this industry and become an industrialist. 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 every business has teething stages, and the shoe line trade isn’t an exception.
Therefore, if you are determined that this is one business you want to take a shot at, you may want to make the following tips yours. Also,,, note that you would need a good amount of money to start out well.
Starting a Shoe Line – Sample Business Plan Template
1. Carryout Market Research
You will need to do some market research to identify your potential customers and target market. Also, your findings would 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 is through the Internet.
2. Work or Volunteer to Work with a Shoe Designer
You may need to find a shoe designer and work with him at the factory or wherever to design a line of shoes for your brand. Remember that the products you decide to churn out must have certain standard features like easy fit, trendy, and a high-fashion look, amongst others. These characteristics become your brand's standard operating features, making it easily recognizable by buyers.
3. Write a 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 your shoe brand's market strategy. 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, and the short-and long-term goals of your business.
4. Register Your Brand Name
Now that things are looking up, your next assignment is registering 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 must thoroughly complete the forms you are given so that your details are well documented. After registering your business, you need to trademark your shoe brand.
5. Get a Space
Starting a shoe line means you have to operate from an office. If you decide to own a factory that makes these shoes, you would require a space ample enough to contain your machines and workers. On the other hand, if you want to be saddled with drawing up the designs, you also need an office space. Therefore, you must ask your realtor to help you pull things off.
6. Get a Manufacturer
This is especially important if you want to be a designer. Therefore,, youneed to spot a shoe manufacturer who can execute the shoe designs you agree on. Consider a smaller shoe manufacturer for a start and proceed to a more extensive one when your brand picks off.
7. Set Prices
To do this effectively to set the prices for your shoes, you have to look at shoes in your brand. Ensure that the prices are suitable for the market you have in mind, and also cover the manufacturing cost of the shoes, as well as meet your overheads.
8. Print Logos
Your next port of call would be to engage a graphic designer to make a logo for your shoe brand. You should check with your country's Patent and Trademark Office to make sure your brand name is distinctive that no other company uses. Do ensure that you do not choose a name that is already in use so that you do not face legal implications.
9. Start Production and Advertise
Now that things are looking up, consider commencing production. When production is underway, you can start advertising your business. What are the ways that you can adopt to do this?
You can use the social media platforms to pull things off here. You can use Twitter, Facebook, Instagram, and WhatsApp. Consider making all and sundry know by word of mouth what you do. You can ask family and friends to 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 them will soar.
There you have it. 9 sold steps that you should take to start and build a successful shoe line. Do note that you have 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.
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