According to Statista, Nike is the world's most popular sneaker brand, with an estimated global market share of 18%. Nike is also the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment.
Some say that a successful shoe store has the following characteristics:
- An inviting exterior
- Quality staff and customer service
- In-store displays
- Ample seating
- Good lighting
- Top-notch customer service
Starting an Athletic Shoe Store – Sample Business Plan Template
1. Plan your Business
It is essential that you lay out a step-by-step plan on how you wish to run the business. The plan for an athletic store should include details like the scale on which you will operate your store and whether it will be a small downtown athletic shoe store? Will it be a massive store covering all athletic shoe brands?How much capital will be enough to finance the business, putting all cost details into consideration? What business structure will you incorporate into your business? Would there be an online store front where people can order your products online? These and more are the kinds of questions your business plan must answer.
2. Lease a Store
You need to lease a space to serve as your shoe store. The size of the space you lease would depend on the scale or capacity you wish to start the business. Finding a store in the busy part of town will be an added advantage to your business. You need as many people as possible to know your business.3. Decorate the Store
You need to engage an interior decoration company to set up your store's interiors. The interior decorator will be responsible for the design, theme, and color scheme. Remember that it is an athletic shoe store; hence, you must give the interiors a sports theme.4. Source for Products
After your store is ready, the next step is sourcing products. You have to make a list of popular sports shoes available from major brands like Adidas and Nike. You can visit the company's site and order the products. Still, since you will be purchasing in bulk quantity, you may need to place a particular order, which usually comes with a considerable discount. Try and vary the various products you order; include different sizes, colors, and brands so that anybody who visits your store can easily find an athletic shoe that meets his specifications.5. Set up an Online Store
To reach a wider audience with your products, you must create an online store, and the e-commerce store will have pictures of available products for sale. Before setting up your online store, you have to work out all the logistics involved with an e-store. For instance, you need to work out a means of receiving payments for orders placed on the site. There are popular e-payment processors you can use to accept payments from your site, such as PayPal, Skrill, and Moneybookers.6. Advertise your Store
There are various ways you can advertise your store to make more sales. If you are operating your business on a large scale, you may sponsor a local sports event to create awareness for your business. Another way to increase your customer base is to offer discounts and bonuses to first-time and loyal customers. You can also run a raffle draw where anybody purchasing a shoe from your store can win something big.Your athlete's shoe store will surely develop into something successful when you take the tips provided earlier very seriously. Those with success stories to tell in this kind of business field took them dearly, so you must.
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