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Shoe Store Business Plan Template

Written by Dave Lavinsky

Shoe Store Business Plan

You’ve come to the right place to create your Shoe Store business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Shoe Store businesses.

Below is a template to help you create each section of your Shoe Store business plan.

Executive Summary

Business overview.

Sports Express is a startup athletic shoe company located in Austin, Texas. The company is founded by Don Harrison who has experience in selling and marketing shoes. Now, with the expertise of knowledge and business acumen, Don has determined he can confidently start and effectively grow a successful athletic shoe company. Don believes his experience of strategic growth, marketing skills, financial capabilities, and wide and deep knowledge of shoe sales and marketing practices will provide everything needed for long-term growth and profitability.

Sports Express will provide a comprehensive array of athletic shoes for a wide variety of clients. Sports Express will be the largest athletic shoe store in Austin, providing services and products to each client while supporting the strategic goals of the company. Sports Express will be the ultimate choice in Austin for customers to ensure that every desire of the customer for excellent athletic shoes is fully and completely met.

Product Offering

The following are the products and services that Sports Express will provide:

  • Personalized shoe sizing service
  • Express delivery of shoes ordered online
  • 24/7 reservation system to place shoes “on hold”
  • Wide selection of shoes for men, women and children
  • Coordinated nationwide search for select high-end shoes
  • Every well-known brand of athletic shoes held in inventory
  • Online ordering system and website assistance

Customer Focus

Sports Express will target all individuals in the greater Austin region. They will target men and women athletes who play traditional and on-trend sports. They will target men and women who enjoy recreational activities. They will also target children who play traditional and on-trend sports. They will target children who play recreational activities. They will target teams, leagues and sports organizations. They will target public and private schools. No matter the customer, Sports Express will deliver the best service, products and profits.

Management Team

Sports Express will be owned and operated by Dan Harrison. He recruited his former associate, Taylor Anderson, to be his Retail Manager, assisting customers and overseeing the retail business in operations. He also recruited his sister, Tami Harrison, to be the bookkeeper and back office manager for the company.

Dan Harrison holds a ten-year history of sales and marketing athletic shoes on behalf of a national chain of stores. During his employment, he was often given the yearly award of “Highest Sales Achievement,” and he secured the highest sales commission for three of the past ten years. His customers enjoyed his assistance and thorough knowledge of athletic shoes and many have now promised to move with him when he opens his Sports Express business.

Taylor Anderson is a former athletic business manager, overseeing operations in three retail stores on behalf of a national chain of stores. He is well-known for his excellent management of the sales staff, as well as his courteous manner with customers, always offering the highest level of expertise and care in operations.

Tami Harrison is a graduate of Texas A & M University, where she earned her bachelor’s degree in retail finance. She was recently promoted from her former position as an account manager in a national finance company, but chose to follow her brother, Dan, in his well-developed plan to build and grow Sports Express.

Success Factors

Sports Express will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team at Sports Express
  • Comprehensive selection of athletic and sporting shoes for all ages
  • Customized online service and express delivery of online orders
  • Specialized shoe sizing in-store service
  • Sports Express offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Sports Express is seeking $200,000 in debt financing to launch its Sports Express business. The funding will be dedicated toward securing the store space and purchasing shoe inventory and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and costs for the print ads and marketing costs. The breakout of the funding is below:

  • Store space build-out: $20,000
  • Store equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Sports Express.

Sports Express Pro Forma Projections

Company Overview

Who is sports express.

Sports Express is a newly established, full-service athletic shoe retail business in Austin, Texas. Sports Express will be the most reliable, fully-stocked, and well-staffed choice for athletic and sporting shoes in Austin and the surrounding communities. Sports Express will provide a comprehensive menu of products and services for any individual to utilize. Their full-service approach includes a comprehensive set of customized services and online offers.

  Sports Express will be able to effectively market and sell all major brand athletic and sports shoes. The team of professionals are highly qualified and experienced in selling athletic and sports shoes, along with accessories that complement shoes. Sports Express removes all headaches and issues of finding top-quality athletic shoes and ensures all issues of shoe-shopping and selection are taken care of expeditiously while delivering the best customer service.

Sports Express History

Sports Express is owned and operated by Dan Harrison, a former retail shoe company division manager. He has a business administration degree from the University of Washington and has worked within a national chain store company for ten years, effectively selling and marketing all major brands of shoes. Dan’s tenure in the national chain has given him the skills and knowledge required to venture out on his own and start his own company. While employed by the national chain business, Dan earned the trust and respect of customers and company associates alike, with many of them determined to follow Dan as he opens his new business.

Since incorporation, Sports Express has achieved the following milestones:

  • Registered Sports Express, LLC to transact business in the state of Texas.
  • Has a contract in place for a 10,000 square foot store in Austin’s newest shopping mall
  • Reached out to numerous contacts to announce the formation of Sports Express
  • Began recruiting a management staff of four and four sales associates to work at Sports Express

Sports Express Products & Services

The following will be the products and services Sports Express will provide:

Industry Analysis

The retail shoe industry is expected to grow over the next five years to over $304 billion. The growth will be driven by an increased interest in consumers to engage in athletic activities for both professional and personal reasons. This growing interest will result in the further development of shoe types to meet specific trends. The growth will also be driven by consumers who will choose individualized shoe designs and preferences as they achieve athletic goals. Over the next five years, technology will increase to include personalized services and shoe fit, which will also drive increased sales based on personal preferences.

Costs will likely be reduced as technology continues to evolve in manufacturing, providing customization in the make and model of athletic shoes, which allows customers to have a specialized shoe made personally to fit their own feet. Costs will also be reduced by the increase of manufactured athletic shoes. Costs will be reduced by advances in technology and software that increases productivity at the manufacturing level.

Customer Analysis

Demographic profile of target market, customer segmentation.

Sports Express will primarily target the following customer profiles:

  • Individuals of all ages who seek athletic or sports-related footwear
  • Individuals who play professional sports
  • Children and teens who play in organized sports
  • Schools and league organizations that support sports teams

Competitive Analysis

Direct and indirect competitors.

Sports Express will face competition from other companies with similar business profiles. A description of each competitor company is below.

The Outdoor Shoe Company

The Outdoor Shoe Company was formed in 1998 in Austin, Texas by Joe and Elise Cummings to provide selected shoe styles and types for those individuals who enjoy being outdoors. This includes customers seeking sports shoes, athletic shoes, recreational shoes for hunting, hiking, and shoes for water-based activities. The Outdoor Shoe Company started with one retail store and has now grown to over 20 retail stores throughout the state of Texas.

The Outdoor Shoe Company leadership team is determined to undercut the price of all competitors and the company does so, with certain exceptions, by contracting with manufacturers to sell overstocks and lightly-scuffed or “incorrect” shoes. The prices at The Outdoor Shoe Company are lower than their competitors; however, consumers are made aware that the shoes may be lacking in fit or cosmetic looks based on the purchasing premise.

Randall & Rodney Men’s Shoes

Randall & Rodney Men’s Shoes is a chain of shoe stores within Austin, Texas. The owners, Randall Marsten and Rodney Marsten, graduated from Texas A & M University, where they played on the football team representing the university throughout their school years there. Randall and Rodney determined that the business scheme that would work best for entrepreneurs would be a high-end men’s shoe company, offering multiple brands of shoes within the best shoe categories, including athletic and sports shoes.

There are four Randall & Rodney Men’s Shoe stores throughout Austin, with the majority of customers purchasing shoes that are made in Italy of leather with custom shoe soles that reflect the finest composition. The athletic shoe and sporting shoe sales occupy approximately one-fifth of all shoe sales and the brands carried within the store, while highly-sought, do not reflect the entire lines of shoes available to customers at lower price points.

Big 6 Shoe Company

Owned and operated by Sol Cordoza, the Big 6 Shoe Company carries the most well-known family brands of shoes within the Austin region. The pricing of inventory offers moderate costs for mid-range shoes and, while inventory does not include all high-end manufacturers, the Big 6 Shoe Company has established contracts with several youth sports organizations to supply soccer shoes, football shoes, and baseball shoes for students. This arm of the company has led to a major source of profit for the Big 6 Shoe Company. There are two retail stores within the company, both situated near malls and both approximately 10,000 square feet in size. Sol Cordoza began his company when his former employer of five years went out of business in the retail shoe market and Sol bought out the inventory and set up his own store.

Competitive Advantage

Sports Express will be able to offer the following advantages over their competition:

  • Sports Express offers the best pricing in town. Their pricing structure is the most cost-effective compared to the competition.

Marketing Plan

Brand & value proposition.

Sports Express will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who are able to provide a comprehensive package of products and service
  • Customized services that guarantee customer satisfaction
  • Online sales with generous stock inventory and availability
  • Discounts for families and loyal customers
  • Unbeatable pricing to its clients; they will offer the lowest pricing in the city.

Promotions Strategy

The promotions strategy for Sports Express is as follows:

Word of Mouth/Referrals

Dan Harrison has built up an extensive list of contacts over the years by providing exceptional service and expertise to his retail shoe clients. The contacts and clients will follow him to his new company and help spread the word of Sports Express.

Professional Associations and Networking

The management team of Sports Express will join all citywide organizations that represent opportunities for networking, including city and county associations. They will also join professional business organizations and non-profit foundations that support youth sports clubs and league play.

Print Advertising

Two weeks prior to the launch date, Sports Express will send a direct mail piece to every home, school and business within the greater Austin area, offering special discounts and incentives to prospective customers. Sports Express will also offer a discount to schools and sports groups during the first month of business that will offer additional price cuts for teams.

Website/SEO Marketing

Sports Express will fully utilize their website. The website will be well organized, informative, and list all the products and services that Sports Express provides. The website will also list their contact information and allow customers to order shoes online with express shoe delivery. Trained staff will answer calls and website questions on a 24/7 basis. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “athletic shoe company” or “sports shoes near me,” Sports Express will be listed at the top of the search results.

The pricing of Sports Express will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Sports Express. Operation Functions:

  • Dan Harrison will be the owner and President of the company. Dan will oversee all staff and manage client relations. Dan has spent the past year recruiting the following staff:
  • Sherri Rydell, Office Manager who will manage the office administration, client files, and accounts payable.
  • Tami Harrison, Staff Accountant will provide all client accounting, tax payments, and monthly financial reporting.
  • Adele Townsend, Marketing Manager who will provide all marketing for Sports Express and each client it serves.

Milestones:

Sports Express will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease retail space
  • 5/15/202X – Finalize personnel and staff employment contracts for Sports Express
  • 6/1/202X – Finalize contracts for Sports Express vendors
  • 6/15/202X – Begin networking at industry events
  • 6/22/202X – Begin moving into Sports Express retail store
  • 7/1/202X – Sports Express opens its doors for business

Sports Express will be owned and operated by Dan Harrison. He recruited his former associate, Taylor Anderson, to be his Retail Manager, assisting customers and overseeing the retail business in operations. He also recruited his sister, Tami Anderson, to be the bookkeeper and back office manager for the company.

Financial Plan

Key revenue & costs.

The revenue drivers for Sports Express are the fees they will charge to customers for their products and services.

The cost drivers will be the overhead costs required in order to staff Sports Express. The expenses will be the payroll cost, rent, utilities, store supplies, and marketing materials.

Funding Requirements and Use of Funds

Sports Express is seeking $200,000 in debt financing to launch its athletic shoe company. The funding will be dedicated toward securing the store space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Customers Per Month: 800
  • Average Revenue per Month: $94,500
  • Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, shoe store business plan faqs, what is a shoe store business plan.

A shoe store business plan is a plan to start and/or grow your shoe store business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your Shoe Store business plan using our Shoe Store Business Plan Template here .

What are the Main Types of Shoe Store Businesses?

There are a number of different kinds of shoe store businesses, some examples include: Athletic shore store, Luxury shoe store, Budget shoe store, and Orthopedic shoe store.

How Do You Get Funding for Your Shoe Store Business Plan?

Shoe Store businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Shoe Store Business?

Starting a shoe store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. 1. Develop A Shoe Store Business Plan - The first step in starting a business is to create a detailed shoe store business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your shoe store business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your shoe store business is in compliance with local laws. 3. Register Your Shoe Store Business - Once you have chosen a legal structure, the next step is to register your shoe store business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 4. Identify Financing Options - It’s likely that you’ll need some capital to start your shoe store business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 7. Acquire Necessary Shoe Store Equipment & Supplies - In order to start your shoe store business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your shoe store business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful shoe store business:

  • How to Start a Shoe Store

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Shoe Store Business Plan

footwear retail business plan

Thinking of starting your own shoe store? A flexible business model and high-profit margins make it an excellent business venture. So well done.

But before you jump in, it’s crucial to have a detailed business plan in place to succeed. Besides helping you raise capital for your business, it will also act as a roadmap to help you navigate through the ups and downs of entrepreneurship.

Need help writing a business plan for your shoe store? You’re at the right place. Our shoe store business plan template will help you get started.

sample business plan

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

  • Fill in the blanks – Outline
  • Financial Tables

How to Write a Shoe Store Business Plan?

Writing a shoe store business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

  • This section may include the name of your store, its location, when it was founded, the type of shoe store business (E.g. athletic shoe store, casual shoe store, women’s shoe store.) etc.

Market opportunity:

  • For instance, your product line may include types of shoes your business will sell, including loafers, athletic shoes, designer shoes, sandals, boots, etc.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your store. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

  • Vintage or second-hand shoe stores
  • Comfort shoe stores
  • Online shoe stores
  • Children’s shoe stores
  • Athletic shoe stores
  • If your shop sells a variety of shoes, you may also mention it.
  • Describe the legal structure of your shoe store, whether it is a sole proprietorship, partnership, or others.
  • Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

  • Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

  • For instance, an athletic shoe store may cater to athletes, fitness enthusiasts, and outdoor enthusiasts.

Market size and growth potential:

Competitive analysis:, market trends:.

  • For instance, there is a growing demand for sustainable and eco-friendly footwear as more and more people are becoming conscious of the environmental impacts of the products they purchase. Describe how you plan to serve this growing market.

Regulatory environment:

Here are a few tips for writing the market analysis section of your shoe shop business plan:

  • Conduct market research, industry reports, and surveys to gather data.
  • Provide specific and detailed information whenever possible.
  • Illustrate your points with charts and graphs.
  • Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Product offerings:

List the type of shoes your store will provide to its customers. For instance, your product line may include boots, casual shoes, sandals, designer shoes, dress shoes, etc. If you plan to carry specific brands, you can also include their names.

Inventory management:

Suppliers and vendors:, return policy:.

In short, this section of your shoe store plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

  • For example, expert shoe fitting, a wide range of sizes and styles, high-quality and durable shoes, and sustainable and ethical products could be some of the great USPs for a shoe store.

Pricing strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your shoe shop business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your shoe store, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, equipment & technology:.

  • Explain how these technology and equipment help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their

Founder/CEO:

Key managers:.

  • It should include the store manager, marketing manager, and other people involved in the business operations, including their education, professional background, and any relevant experience in the industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

  • So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your business, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

  • This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

  • Add a table of contents for the appendix section to help readers easily find specific information or sections.
  • In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more.These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
  • Provide data derived from market research, including stats about the shoe store, user demographics, and industry trends.
  • Include any legal documents such as permits, licenses, and contracts.
  • Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your shoe or sneaker store business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample shoe store business plan will provide an idea for writing a successful shoe store plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our shoe store business plan pdf .

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Frequently asked questions, why do you need a shoe store business plan.

A business plan is an essential tool for anyone looking to start or run a successful shoe store business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your shoe store.

How to get funding for your shoe store business?

There are several ways to get funding for your shoe store business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your shoe store business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your shoe store business plan and outline your vision as you have in your mind.

What is the easiest way to write your shoe store business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any shoe store business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

footwear retail business plan

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Start a Shoe Store Business

Written by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on September 16, 2021 Updated on May 8, 2024

How to Start a Shoe Store Business

Investment range

$9,000 - $38,000

Revenue potential

$105,000 - $840,000 p.a.

Time to build

Profit potential

$52,000 - $252,000 p.a.

Industry trend

If you’re passionate about fashion and always on the lookout for the next big footwear trend, then opening your own shoe store may be a highly profitable use for your talents. Whether you focus on stylish stilettos or sleek sneakers, there are countless ways to capitalize on people’s love of shoes, which is why US footwear is an $81 billion market. 

To help you gear up for success, this step-by-step guide has all the information and insight you need to get your foot in the door and launch a successful shoe store business.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business is Right for You

Because a shoe store business will take a significant amount of effort and time to start, weighing the pros and cons is essential in measuring the risks and potential rewards.

Pros and cons

  • Low to moderate startup costs
  • Work the hours you choose from your own home
  • Express your creativity in shoe designs
  • Simple yet globally scalable business model
  • Few regulations and compliance requirements
  • Stocking many sizes gets expensive
  • Unsold stock could mean sizable losses
  • Product returns for online sales can be as high as 40%

Shoe industry trends

Did you know that the average American owns 14 pairs of shoes, from low-cost flip-flops to high-end footwear?(( https://www.psychologytoday.com/us/blog/the-science-behind-behavior/201510/how-much-are-your-shoes-really-costing-you ))

Industry size and growth

shoe store industry size and growth

  • Industry size and past growth – German data analyst Statista values the US shoe market at $92 billion.(( https://www.statista.com/outlook/cmo/footwear/united-states ))  
  • Growth forecast – The market is expected to expand an additional 4% annually through 2027, according to Statista.
  • Number of businesses – There are more than 28,000 shoe stores in the US, according to market analyst IBISWorld.(( https://www.ibisworld.com/united-states/market-research-reports/shoe-stores-industry/ )) 
  • Number of people employed – The industry employs around 247,000 people.

Trends and challenges

shoe store industry Trends and Challenges

Trends shaping the shoe industry include:

  • Sharp rise in online sales, with Amazon alone accounting for 16% of the US market(( https://www.statista.com/statistics/197650/annual-shoe-store-sales-in-the-us-since-1992/ ))
  • US exports to foreign markets are increasing sharply, with China and Vietnam representing a combined share of 47.3%

Challenges in the shoe industry include:

  • Supply chain problems
  • Steep import tariffs
  • Rising production costs

Consumer spending

shoe store business consumer spending

  • Average consumer spend – On average, Americans buy 7-8 pairs of shoes each year.(( https://www.worldfootwear.com/news/americans-buy-75-pairs-of-shoes-per-year/708.html ))
  • Potential customer base – There are nearly 260 million adult Americans.(( https://www.census.gov/library/stories/2021/08/united-states-adult-population-grew-faster-than-nations-total-population-from-2010-to-2020.html ))
  • Average prices – A pair of shoes costs an average of $70.

How much does it cost to start a shoe store business?

The startup costs can be minimal or hefty depending on your start-up strategy. Starting your shoe store business will cost you between $9,000 and $38,000.

If you’re going for the minimum budget, you’ll most likely start from a home-based office with a strong e-commerce website and online stores at major marketplaces like Amazon and eBay. The major cost will be stocking your initial inventory of at least 100 pairs of shoes, plus marketing and website development.

The high-end budget might include an inventory of 500 pairs and renting out a commercial space for your brick-and-mortar store. 

How much can you earn from a shoe store business?

shoe store business earnings forecast

The revenue potential of your shoe business depends on your costs, marketing plan and sales volume. The average price for a pair of shoes is about $70, while shoe businesses often have a margin of around 50%. So for every pair of shoes you sell you should make about $35. 

As a home-based solopreneur making online sales, in your first year or two you might sell around 125 pairs each month. This would give you $105,000 in annual revenue and about $52,000 in profit. After a few years you might sell 1,000 pairs per month, but with a physical store and sales staff your margin would fall to around 30%. As a result, you would have about $840,000 in annual revenue and a tidy profit of a quarter of a million dollars. 

What barriers to entry are there?

The barriers to entry in a shoe business are fairly moderate. The industry faces minimal regulations and compliance requirements. However, the intensity of competition poses a considerable challenge to the new entrant. Well-established brands, local shoe stores, department stores and thousands of independent sellers on sites like Amazon, eBay, and AliExpress make it difficult to attract customers. Also, it can be hard to build customer loyalty in a saturated market with no switching cost to the client.

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Step 2: hone your idea.

For a small to medium-sized start-up, the best way is to outsource production to a manufacturer. It will minimize your startup investment and relieve you of a lot of the stress and challenges that come with sourcing raw material, managing production staff, and overseeing operations.

Then once you have solidified a reliable customer base, you may consider shifting to in-house manufacturing. If you’ll explore outsourcing, you’ll likely partner with a manufacturing company outside the US. China, for instance, produces about half the footwear imports sold in the US.(( https://www.usitc.gov/research_and_analysis/trade_shifts_2019/footwear.htm ))

Now that you know what’s involved in starting a shoe store, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research shoe stores in your area and online to examine their products, price points, and customer reviews, as well as what sells best. You’re looking for a market gap to fill. For instance, maybe your local market is missing a great leather shoes and boots shop. 

footwear retail business plan

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as vintage sneakers.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products or services

A crucial decision is of course deciding which products to offer. You could focus on one type of shoe, such as heels, athletic trainers, sandals or boots. Or you could stock a wide variety of all these types of shoes. In addition, you might also offer related products, such as socks, shoelaces, shoehorns and more. 

How much should you charge for your shoes?

Your price should be based on your costs, overhead, and target profit margin. But remember to keep an eye on your competitors because your prices need to be in the vicinity of standard market rates. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

If you decide to focus on heels, your target market will be professional women, and you could find them on LinkedIn and Facebook. If you choose sneakers and athletic wear, your primary target demographic will be teens and young adults, and you could track them down on sites like Instagram and TikTok.  

Where? Choose your shoe store location

In the early stages, you’ll probably run your shoe store from home to keep costs low. But as your business grows, you’ll likely need to hire workers and rent out a physical storefront, and perhaps a production facility. Find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

Choose your shoe store location carefully. Look for a spot in a busy commercial district with high foot traffic, and consider the demographics of the area. Assess the competition and differentiate your store with unique brands or exceptional customer service.

Ensure the space is visually appealing and practical, and consider proximity to complementary businesses. By choosing the right location, you can establish a profitable and successful shoe store in the competitive retail industry.

shoe store business idea rating

Step 3: Brainstorm a Shoe Store Name

Here are some ideas for brainstorming your business name:

  • Short, unique, and catchy names tend to stand out
  • Names that are easy to say and spell tend to do better 
  • Name should be relevant to your product or service offerings
  • Ask around — family, friends, colleagues, social media — for suggestions
  • Including keywords, such as “shoes” or “boots”, boosts SEO
  • Name should allow for expansion, for ex: “Footwear Frenzy” over “High Heel Haven”
  • A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Shoe Store Business Plan

Here are the key components of a business plan:

what to include in a business plan

  • Executive Summary: Provide a brief overview of your shoe store, outlining its focus on offering a diverse range of footwear, target customers, and strategies for success.
  • Business Overview: Describe your shoe store’s range, including types of footwear offered, such as casual, formal, sports, and specialty shoes.
  • Product and Services: Detail the variety of shoes and related accessories you plan to sell, and any additional services like fitting consultations or custom orders.
  • Market Analysis: Assess the demand for footwear in your area, identifying key customer segments and current fashion trends.
  • Competitive Analysis: Compare your store to other shoe retailers in the area, emphasizing your unique selection, pricing, or customer service.
  • Sales and Marketing: Outline your strategies for attracting customers, like online marketing, in-store promotions, or loyalty programs.
  • Management Team: Highlight the qualifications and experience of your team, particularly in retail management and fashion merchandising.
  • Operations Plan: Describe the daily running of the store, including inventory management, staffing, and customer service.
  • Financial Plan: Provide an overview of financial aspects such as start-up costs, pricing strategy, sales targets, and profit expectations.
  • Appendix: Include supplementary documents like supplier contracts, market research data, or floor plans of the store to support your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to shoes. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your shoe shop will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

types of business structures

  • Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
  • Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
  • Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
  • C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
  • S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have. 

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

footwear retail business plan

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

footwear retail business plan

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business 

Securing financing is your next step and there are plenty of ways to raise capital:

footwear retail business plan

  • Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
  • SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
  • Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
  • Venture capital: Venture capital investors take an ownership stake in exchange for funds, so keep in mind that you’d be sacrificing some control over your business. This is generally only available for businesses with high growth potential.
  • Angel investors: Reach out to your entire network in search of people interested in investing in early-stage startups in exchange for a stake. Established angel investors are always looking for good opportunities. 
  • Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
  • Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
  • Personal: Self-fund your business via your savings or the sale of property or other assets.

Since a shoe store doesn’t require massive funding, your best bet is probably to rely on your personal assets along with friends and family. If you have a great concept, you might also try crowdfunding — people love shoes! 

Step 8: Apply for Shoe Store Business Licenses and Permits

Starting a shoe store business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your shoe store business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

types of business insurance

  • General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
  • Business Property: Provides coverage for your equipment and supplies.
  • Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
  • Worker’s compensation: Provides compensation to employees injured on the job.
  • Property: Covers your physical space, whether it is a cart, storefront, or office.
  • Commercial auto: Protection for your company-owned vehicle.
  • Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
  • Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software, such as vend , gofrugal , and StarCode to manage your point of sale, inventory, customers, and more.

  • Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
  • If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Launching a successful shoe store requires more than just quality products; it demands strategic marketing to attract and retain customers. Here are practical strategies to kickstart your shoe store business:

  • Influencer Collaborations: Leverage the power of social media influencers to showcase your shoe collection. Partner with influencers whose style aligns with your brand, reaching a broader audience and creating buzz around your store.
  • Limited-Time Promotions: Generate excitement and urgency by running limited-time promotions, such as “Buy One, Get One Half-Off” or exclusive discounts for the first 50 customers. This strategy encourages quick decisions and repeat visits.
  • Footwear Customization Events: Organize events where customers can customize their shoes with unique designs, colors, or accessories. This hands-on experience not only adds a personal touch but also creates memorable moments and builds brand loyalty.
  • Local Sponsorships: Sponsor local events, sports teams, or community activities. This not only enhances your store’s visibility within the community but also establishes a positive association with your brand.
  • Loyalty Programs: Implement a loyalty program that rewards customers for repeat purchases. Offer discounts, exclusive access to new arrivals, or special events for loyal customers to encourage them to keep coming back.
  • Interactive Store Displays: Create engaging and interactive displays in your store that allow customers to try on and experience your shoes in a unique way. This not only attracts attention but also encourages customers to spend more time in your store.
  • Strategic Partnerships: Collaborate with complementary businesses, such as clothing boutiques or fitness studios, to cross-promote products. This expands your reach to new customer segments and creates mutually beneficial relationships.
  • Themed Pop-Up Shops: Organize themed pop-up shops or mobile shoe displays at strategic locations, capitalizing on trends and events. This creates a sense of exclusivity and urgency, driving foot traffic to your store.
  • Customer Testimonials and Reviews: Showcase positive customer testimonials and reviews prominently in your store and on social media. Authentic feedback builds trust and credibility, influencing potential customers to make a purchase.
  • Seasonal Trend Guides: Regularly publish seasonal trend guides on your social media platforms and in-store, showcasing how your shoes align with current fashion trends. This positions your store as a trendsetter and a go-to destination for stylish footwear.

Focus on USPs

unique selling proposition

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your shoes meet their desires. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your shoe business could be: 

  • The best boots you’ll ever buy
  • Vintage sneakers at incredible prices! 
  • Walk tall in our vast selection of heels 

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a shoe store, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in shoes for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in shoes. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business. 

Step 12: Build your team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a shoe store business would include:

  • Sales Clerks — service customers, either online or in-store
  • Marketing Lead — SEO strategy, social media, etc. 
  • General Manager — hiring and scheduling, maintain books

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Shoe Store – Start Making Money!

You’re now ready to begin your entrepreneurial journey and lead your shoe store business to great success! Thought you might want to bookmark this page, just in case. 

And to ensure your business starts off on the right foot, here are some tips to keep in mind:

  • Meet your deadlines: Whether it’s the deadline for a printing project or your bills, make sure you meet your time commitments—your creditors, service providers and customers will appreciate it!
  • Provide more value than you take: Ensure your clients get more value from you than you take from them, and they’ll stick with you for life.
  • Always implement quality control: A simple quality assurance check reduces product returns and customer dissatisfaction.
  • Engage the local community: You know the local community and have a direct connection with them, so it’s better to serve their needs before you market your products on a state or national level.
  • Address complaints with humility: Always listen to your clients, especially their negative remarks as these are areas where you can improve. And even if a complaint is illogical or unfair, address it calmly and professionally.
  • Keep improving your production capacity: You never know when a big client will come calling. Be prepared for rapid expansion and you’ll be able to seize the opportunity when the time comes.
  • Attend events: Participate in major shoe industry events and trade shows. Bring your bestselling shoe designs and prove yourself as creative and capable.
  • Shoe Business FAQs

Shoemaking can be a highly profitable business. The average gross profit in the industry is shy of 50%. However, you may want to outsource the shoe production to a specialized company in the initial period to reduce unnecessary stress of your business which might impact your revenues and profitability.

You can start a shoe store without investing any money. You may align with an existing shoe store and put up their stock on marketplaces and social media. Generate the demand and supply products with your own packaging. Reinvest your profits until your business starts operating independently.

Shoe designers use popular designing software such as Adobe Photoshop and Adobe Illustrator. These are versatile, hence learning them will broaden your designing capabilities.

To attract customers to your shoe store, focus on creating visually appealing displays, offer a variety of high-quality shoe options, provide excellent customer service, utilize effective marketing strategies, and consider implementing loyalty programs.

Starting a shoe business online can be profitable, as it allows for a wider reach and lower operating costs compared to a brick-and-mortar store.

The age group that buys the most shoes can vary, but typically adults aged 25-44 are considered a significant consumer group for footwear.

To be successful in the shoe business, emphasize providing high-quality products, staying updated with fashion trends, offering competitive pricing, delivering exceptional customer service, building strong supplier relationships, effectively managing inventory, implementing strategic marketing efforts, and continuously monitoring and adapting to market demands.

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  • Decide if the Business is Right for You
  • Hone Your Idea
  • Brainstorm a Shoe Store Name
  • Create a Shoe Store Business Plan
  • Register Your Business
  • Register for Taxes
  • Fund your Business 
  • Apply for Shoe Store Business Licenses and Permits
  • Open a Business Bank Account
  • Get Business Insurance
  • Prepare to Launch
  • Build your team
  • Run a Shoe Store - Start Making Money!

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How to write a business plan for your shoe store.

business plan for a shoe store

Starting a shoe store is a great idea because it allows entrepreneurs to capitalize on the growing demand for shoes and create a unique shopping experience for customers.

Additionally, there are many different ways to market a shoe store and generate revenue, making it a potentially lucrative business venture.

But, before that, you need a business plan.

Creating a business plan is essential for any new project, as it helps to define the goals and objectives of the project, as well as the resources and strategies needed to bring it to fruition. A well-crafted business plan can also help to secure necessary funding for the project.

In short, a good business plan will help ensure the profitability of your shoe store .

What should be outlined in the business plan for a shoe store? How can it be effectively planned? What financial numbers should be included? What are some ways to build a solid business plan without investing excessive time?

Stay with us: we will answer all these questions!

One last thing: starting your business plan from scratch is not required.

Feel free to download our customizable business plan for a shoe store and adapt it to suit your business needs.

business plan shoe shop

Elaborating a business plan for a shoe store

Is it worth considering a business plan for your shoe store.

Yes, you should definitely consider creating a business plan for your shoe store.

Constructing a sound business plan will empower you to:

  • learn about the shoe store market
  • stay on top of the industry's emerging trends
  • highlight what makes a shoe store thriving
  • understand the latest shoe trends and customer preferences in footwear
  • come up with a winning value proposition for your footwear boutique
  • evaluate competitive strategies
  • explore strategic advantages for your shoe store
  • find a business model that will make you profitable
  • formulate a resilient strategy to achieve success in the short and long-term
  • assess potential risks involved in operating a shoe store, such as inventory management, changing fashion trends, and customer preferences

Our team has created a business plan for a shoe store that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a shoe store?

A business plan presents a wide range of information, content, numbers, and financial data. It is important to have an orderly format for smooth reading and comprehension.

When we made our business plan for a shoe store , we structured it in a proper way.

We've divided it into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The first section is titled "Market Opportunity."

In this section, you will find valuable information and market trends for shoe stores, including footwear fashion, customer preferences, inventory management, and marketing strategies, guiding entrepreneurs in establishing successful and stylish shoe retail businesses.

The data here is always up to date; we update it biannually.

2. Project Presentation

The "Project" section provides an opportunity to describe your shoe store, highlighting the variety of footwear options available, including brands, styles, and sizes. You can also mention your knowledgeable staff, personalized fitting services, return policy, and the unique value proposition that ensures comfortable and fashionable footwear for your customers.

Also, provide a self-introduction at the end of this section.

Discuss your love for footwear, your range of shoe styles and brands, and how you plan to create a stylish and customer-centric shoe shopping experience. Highlight your knowledgeable staff, your comfortable fitting services, and your dedication to providing exceptional customer service that helps individuals find the perfect pair of shoes that express their style and elevate their confidence at your shoe store.

We created language in our business plan. Customize it to fit your idea perfectly.

3. Market Research

Next up is the "Market Research" section.

This section describes the target audience for your shoe store.

It includes a comprehensive analysis of competitors in the footwear industry and emphasizes your store's unique shoe selections and competitive advantages.

A tailored SWOT analysis is provided as well.

4. Strategy

The "Strategy" section presents a comprehensive 3-year action plan, outlining the initiatives and actions required to make your shoe store a highly profitable venture.

Furthermore, you'll find a marketing strategy, a risk management approach, and a Business Model Canvas tailored to a shoe store in this section.

5. Finances

In the end, the section titled "Finances" is where you can present the financial plan and breakdown for your project.

business plan shoe store

How to make the Executive Summary for a shoe store?

The Executive Summary is like an introduction to the business plan for your shoe store.

Make it short and focused, with a maximum of 2 pages. Include only the key features.

This is the opening statement that the bank will read first when you show them your business plan. It should make them interested and want to read the rest of the plan.

In the Executive Summary of your shoe store, answer these questions: what products does your shoe store offer? who is your target audience? are there other shoe stores in the area? what funding do you need?

How to do the market analysis for a shoe store?

Conducting a market study for your shoe store enables you to grasp external factors like customer demands for footwear, competition within the retail industry, and emerging trends in shoe fashion and design.

By conducting an extensive market analysis, a shoe store can understand customer preferences, offer a variety of stylish and comfortable footwear, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased sales, and a prominent position in the local shoe retail market.

You'll discover the following in the "Market Research" section of our business plan for a shoe store :

  • interesting data points and market insights about shoe stores, including footwear fashion trends, shoe sales figures, and the impact of online shoe retailers
  • a compilation of potential market segments for a shoe store
  • the competitor study
  • the potential competitive advantages for a shoe store

business plan shoe store

The key points of the business plan for a shoe store

What's the business model of a shoe store, business model of a shoe store.

A shoe store's business model revolves around selling a variety of footwear for different styles and purposes to customers. Revenue is generated through shoe sales, potentially offering additional services such as shoe fittings or repairs.

The business model focuses on offering a diverse selection of shoe brands and styles, providing exceptional customer service, creating an inviting store environment, effective marketing to target shoe enthusiasts, and building strong customer relationships based on trust and footwear expertise.

Success depends on staying updated with footwear trends, fostering relationships with shoe suppliers or brands, fostering positive customer experiences and recommendations, and continuously offering new and exclusive shoe products that cater to different customer needs, preferences, and fashion trends.

Business model ≠ Business plan

Business plan and "business model" are not interchangeable, so be careful.

A business model is a framework that demonstrates how a company operates profitably and adds value to customers.

In a business plan, you leverage the Business Model Canvas as a user-friendly framework to illustrate the structure of your business.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a shoe store .

How do you identify the market segments of a shoe store?

Market segmentation for your service provider business involves dividing your potential clients into different groups based on their service needs, industries, and preferences.

These categories may include factors such as business services, home services, personal services, or clients seeking specific service specialties (e.g., consulting, maintenance, coaching).

By segmenting your market, you can offer specialized services and solutions that cater to each segment's specific requirements. For example, you might focus on business services and provide consulting, marketing, or IT solutions for companies, offer a range of home services such as cleaning, repairs, or landscaping for homeowners, specialize in personal services such as coaching, tutoring, or wellness services, or focus on specific service specialties to address the needs of clients, such as accounting services, legal services, or event planning.

Market segmentation allows you to effectively target your marketing efforts, communicate your expertise and the benefits of your services, and provide reliable and tailored solutions that meet the unique needs and preferences of each client segment.

In the business plan for a shoe store , you will find a comprehensive market segmentation that will help you identify your potential customers.

How to conduct a competitor analysis for a shoe store?

Without surprise, you won't be the only shoe store in your market. There will be other retailers offering a variety of footwear options for men, women, and children.

Your business plan should involve a close examination of your competitors, assessing their strengths, weaknesses, and key qualities.

Take stock of their weaknesses (such as limited shoe selection, inadequate sizing options, or poor customer service).

Why should you pay attention to these points? Because these weaknesses can impact customer satisfaction when shopping at shoe stores. By addressing these aspects, you can offer a diverse range of high-quality and fashionable shoes, provide expert fitting and sizing assistance, and deliver exceptional customer service, positioning your shoe store as a go-to destination for footwear that combines style and comfort.

It's what we call competitive advantages—invest in cultivating them for a standout business.

Here are some examples of competitive advantages for a shoe shop: wide variety of footwear options, expert shoe fitting services, exceptional customer care.

How to draft a SWOT analysis for a shoe shop?

A SWOT analysis can help identify the strengths, weaknesses, opportunities, and threats of starting a shoe store, which can be used to develop a successful business strategy.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a shoe store

The strengths for a shoe store

The "S" in SWOT represents Strengths, indicating the project's internal factors that set it apart from competitors.

For a shoe store, possible strengths could include a wide variety of sizes, a broad selection of styles, knowledgeable staff, and competitive pricing.

The weaknesses for a shoe store

The "W" symbolizes Weaknesses, indicating the specific areas or aspects of the project that need some attention.

For a shoe store, potential weaknesses could include a limited selection, limited sizes, inadequate customer service, and high prices.

The opportunities for a shoe store

When we refer to the "O" in SWOT, we are talking about Opportunities, which are positive external circumstances for the project.

In the case of a shoe store, potential opportunities could include offering exclusive online sales, providing custom shoe fittings, offering a loyalty program, and expanding into new markets.

The threats for a shoe store

When we mention the "T" in SWOT, we're referring to Threats, which are the external risks or negative factors that can impact the project's performance.

How to develop a marketing plan for a shoe shop?

Developing a marketing strategy enables entrepreneurs to establish clear marketing objectives and measure their progress towards achieving them.

A shoe shop can attract footwear enthusiasts by developing an effective marketing approach that highlights the shop's wide selection of fashionable and comfortable shoes, including popular brands and limited-edition releases.

Shoe enthusiasts won't shop at your shoe shop without effective marketing; showcasing the stylish and comfortable footwear options, variety of brands, and excellent customer service is necessary.

Have you explored marketing approaches to attract customers to your shoe shop? Consider offering personalized shoe fittings or consultations, showcasing the latest shoe styles and trends on social media, and running targeted advertising campaigns to reach your target audience.

Don't worry if you have no knowledge of marketing and communication.

How to build financial projections for a shoe shop?

A solid business plan must include detailed financial information such as projected income, expenses, cash flow, and balance sheets.

As part of your business plan, it will be necessary to forecast the revenue for your shoe store.

It's important to create a revenue forecast that is relevant and trustworthy.

Our financial plan for a shoe store is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

It goes without saying that you should create a preliminary budget for launching your shoe store. Double-check that you haven't missed any expenses. If you have a doubt, we have listed them all in our financial plan!

By conducting a break-even analysis, you can assess whether your shoe store will be profitable or not.

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How to Start a Shoe Business

start a shoe business

Starting a shoe business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful shoe business.

Importantly, a critical step in starting a shoe business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

14 Steps To Start a Shoe Business :

  • Choose the Name for Your Shoe Business
  • Develop Your Shoe Business Plan
  • Choose the Legal Structure for Your Shoe Business
  • Secure Startup Funding for Your Shoe Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Shoe Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Shoe Business
  • Buy or Lease the Right Shoe Business Equipment
  • Develop Your Shoe Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Shoe Business
  • Open for Business

1. Choose the Name for Your Shoe Business

The first step to starting a shoe business is to choose your business’ name.  

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your own business:

  • Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
  • Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
  • Think about marketing . Come up with a name that reflects the desired brand and/or focus of your shoe business.

2. Develop Your Shoe Business Plan

One of the most important steps in starting a shoe business is to develop your business plan. The purpose of a business plan is to ensure that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise money for your business.

Your shoe business plan should include the following sections:

  • Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your shoe business.
  • Company Overview – this section tells the reader about the history of your shoe business and what type of shoe business you operate. For example, are you a shoe retailer, shoe manufacturer, shoe importer, or shoe distributor? 
  • Industry Analysis – here you will document key information about the shoe industry. Conduct market research and document how big the industry is and what industry trends are affecting it.
  • Customer Analysis – in this section, you will document who your ideal or target market are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing products like the ones you will offer?
  • Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
  • Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
  • Product : Determine and document what products/services you will offer 
  • Prices : Document the prices of your products/services
  • Place : Where will your business be located and how will that location help you increase sales?
  • Promotions : What promotional methods will you use to attract new customers to your shoe business? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
  • Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
  • Management Team – this section details the background of your company’s management team.
  • Financial Plan – finally, the business plan’s financial plan answers questions including the following:
  • What startup costs will you incur?
  • How will your shoe business make money?
  • What are your projected sales and expenses for the next five years?
  • Do you need to raise funding to launch your business?

A sample business plan can help you get started easily.

Finish Your Business Plan Today!

3. choose the legal structure for your shoe business.

Next you need to choose a legal structure for your shoe business and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the shoe store owner and the business are the same legal person. The business owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a shoe business together. The partners share in the profits and losses of the business. 

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a shoe business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a shoe business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your shoe business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

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4. Secure Startup Funding for Your Shoe Business (If Needed)

In developing your shoe business plan , you might have determined that you need to raise funding to launch your business. 

If so, the main sources of funding for a shoe business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a shoe business that they believe has high potential for growth.

5. Secure a Location for Your Business

To find a location for your shoe store business, you’ll want to research the best places to set up shop. You can look at demographic data to see where your target customers live, and you can also look at things like traffic patterns and store availability. You’ll also want to consider your budget and what size of space you need. Once you’ve narrowed down your options, it’s important to do a site visit and make sure the location is right for your business.

6. Register Your Shoe Business with the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

7. Open a Business Bank Account

It is important to establish a bank account in your shoe business’ name. This process is fairly simple and involves the following steps:

  • Identify and contact the bank you want to use
  • Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
  • Complete the bank’s application form and provide all relevant information
  • Meet with a banker to discuss your business needs and establish a relationship with them

8. Get a Business Credit Card

You should get a business credit card for your shoe business to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

9. Get the Required Business Licenses and Permits

There are a few licenses and permits you will need to start a shoe business. To begin, you will need a business license from your local government. You may also need a sales tax permit depending on the state in which you will do business. Depending on the type of shoes you plan to sell, you may also need a manufacturing license or a trademark. Check with your state’s licensing board to find out what is required.

10. Get Business Insurance for Your Shoe Business

There are a multiple types of insurance that are necessary to operate a shoe business.

Some business insurance policies you should consider for your shoe business include:

  • General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
  • Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
  • Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
  • Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
  • Professional liability insurance : This protects your business against claims of professional negligence.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.

11. Buy or Lease the Right Shoe Business Equipment

In order to start a shoe business, you will need some basic equipment. This includes a shoe rack, shelves, boxes, and labels. If you plan to operate a manufacturing show business, you’ll need to invest in special machinery to make the shoes. High-quality machinery is necessary to make specific styles of shoes and produce them in bulk, which means heavy machinery like the 20 ton press machine or a computerized carving machine for laser cutting. You will also need cutting tools, glue to assemble the shoes, quality control equipment to check for mistakes during assembly, and a way to heat-press your shoe labels onto the shoe. A computer with a printer is also needed to design your labels, as well as a phone or internet connection to order your materials from suppliers.

12. Develop Your Shoe Business Marketing Materials

Marketing materials will be required to attract and retain customers to your own shoe line.

The key marketing materials you will need are as follows:

  • Logo : Spend some time developing a good logo for your shoe business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your shoe brand.
  • Website : Likewise, a professional shoe business website provides potential customers with information about the products you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
  • Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media platforms will help customers and others find and interact with your shoe business.

13. Purchase and Setup the Software Needed to Run Your Shoe Business

The software you need to run a shoe business depends on the type of shoe business you want to start. If you want to sell shoes online, you’ll need a shopping cart software and a website builder. Additionally, you can sell through sites like Amazon, Shopify, or Etsy. If you want to start a physical store, you’ll need point of sale (POS) software, customer relationship management (CRM) software, and an inventory management system.

14. Open for Business

You are now ready to open your shoe business. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Ultimate Business Plan in 1 Day!

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

How to Start a Shoe Business FAQs

Is it hard to start a shoe business.

No, it is easy to start a shoe business because there is a low barrier to entry. This means that it does not require a lot of money or technical expertise to get started. There is a large market for shoes, so there is potential for a lot of revenue.

How can I start a shoe business with no experience?

There are a few things you can do to start a shoe business with no experience. You can research the industry and learn as much as you can about shoes and the shoe business. You can also look for opportunities to network with people in the industry, and attend events and trade shows where shoe manufacturers and retailers gather.

What type of shoe business is most profitable?

There is no definitive answer to this question as it largely depends on the specific type of shoe business in question and the market conditions therein. However, in general, the most successful shoe stores are those that produce and sell high-end designer shoes. They are more profitable than those that sell lower-priced options. This is likely due to the fact that consumers are willing to pay more for better quality products.

How much does it cost to start a shoe business?

A shoe store’s startup costs can vary depending on the size and scope of the business. However, on average, it costs between $10,000 and $50,000 to get started. This includes the cost of materials, labor, and other related expenses.

What are the ongoing expenses for a shoe business?

There are a few key ongoing expenses for a shoe business. One of the most important is the cost of materials and labor. You'll also need to factor in things like rent, utilities, and marketing. It's important to have a solid business plan in place so you can anticipate these costs and stay within your budget.

How does a shoe business make money?

A shoe business can make money by selling shoes to consumers, and also by selling shoes to businesses. Consumers may buy shoes in a brick-and-mortar store, or through an online store . Businesses may buy shoes for their employees, or for resale.

Is owning a shoe business profitable?

Yes, owning a shoe business can be profitable. There are a few things to keep in mind when starting a shoe business, such as choosing the right location and ensuring you have a good supplier. However, with the right planning and execution, owning a shoe business can be a lucrative endeavor.

Why do shoe businesses fail?

Shoe businesses fail because they do not have a unique shoe selling proposition. They may try to compete on price, when there are already many other businesses doing the same. They may also have a faulty business model, such as not making enough of a profit on each shoe sold, or not being able to produce shoes quickly and cheaply enough to stay competitive. Additionally, many shoe stores do not understand the importance of marketing and sales, and do not put in the effort necessary to reach consumers.

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Top 10 Shoe Business Plan Templates with Examples and Samples (Editable Word Doc, Excel, and PDF Included)

Top 10 Shoe Business Plan Templates with Examples and Samples (Editable Word Doc, Excel, and PDF Included)

Mohammed Sameer

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1% > 99%

Even as mathematics enthusiasts may be raising an eyebrow at this contradictory statement, here’s where it makes sense: The global shoe industry. 

The industry is worth $382 billion as of 2022. What's surprising is that giants like Nike, Adidas, and Puma (a mere 1% of the players in the category), capture $77 billion in revenue (with $44 billion, $23 billion, and $10 billion, respectively), leaving the remaining 99% of the players to fight for the remaining pie. Hence, 1% can indeed outweigh the 99%. 

In the world of numbers, paradoxes, and profitability, the shoe industry remains both puzzling and sobering. The skewed distribution of success only underscores the importance of strategic planning and business excellence.

Yet, the potential for success in the shoe industry is not limited to the privileged few. As an aspiring shoe entrepreneur, you have the power to script your narrative of success, just like the industry giants. The key lies in strategic planning, innovation, and dedication to your goals.

Our  Shoe Business Plan Templates  are your essential tools as you attempt to put the right foot forward. We provide the blueprint for mirroring the strategies that promoted the iconic brands that have made it the shoe business. Within these templates, we provide you with the guidance, strategies, and tools to build a solid foundation for your shoe business. The 100% editable and customizable nature of our business plan ppt PowerPoint Slides provides you with the structure and the desired flexibility to edit your presentations.

Let’s explore how these templates can transform your venture into a thriving one!

Table of Contents

1. Executive Summary

2. Company Overview

3. Industry Analysis

4. Customer Analysis

5. Competitor Analysis

6. SWOT Analysis and Porter’s Competitive Analysis

7. Marketing Plan

8. Financial Plan

9. Management Summary

10. Exit Strategy

Template 1: Executive Summary

The Executive Summary slide offers a concise yet compelling snapshot of your business plan. It condenses the core elements of your shoe business, presenting a quick pitch, market opportunity, and the essence of your venture. It's the gateway that captures the attention of potential investors and stakeholders, giving them a sneak peek into the viability and potential of your business idea.

Executive Summary

Download this business plan template

Template 2: Company Overview

The Company Overview layout serves as the blueprint for your business identity. It conveys your vision, mission, and strategic goals. It also introduces your startup summary, detailing the specific market gap you aim to address. This slide also outlines the products or services you offer and identifies key success factors that set the stage for your business to thrive.

Company Overview

Template 3: Industry Analysis

The Industry Analysis PPT Slide takes you deep into the world of footwear, providing an in-depth understanding of the market. It includes data on the global footwear industry's Compound Annual Growth Rate (CAGR), delves into the specifics of the US footwear market, and explores insights like revenue figures, sales channels, and consumer spending habits by age group. It even analyzes prevailing market trends to inform your business strategy, making it an essential element of your business plan.

Industry Analysis

Template 4: Customer Analysis

In this PPT Set, you explore the heart of your business – your customers. It goes beyond demographics to create vivid buyer personas, painting a detailed picture of who your target audience is. It offers insights into market sizing, helping you grasp the size and potential of your customer base. Understanding your customers at this level is crucial for crafting effective marketing and sales strategies.

Customer Analysis

Template 5: Competitor Analysis

The Competitor Analysis slide is where you examine your industry's top players, gaining a thorough understanding of the competitive landscape. You evaluate key attributes like the number of employees, revenue figures, and social media presence. This analysis uncovers competitors' target markets and unique selling propositions (USPs), equipping you with insights for positioning your business and gaining a competitive edge.

Competitor Analysis

Template 6: SWOT & Porter's Analysis

This PPT Framework provides an  in-depth look at your business's internal strengths and weaknesses, as well as external opportunities and threats. The SWOT analysis helps you identify areas where your business excels and where it needs improvement. Additionally, it offers a framework for Porter's Competitive Analysis, revealing the industry's competitive forces and suggesting successful navigation strategies. This comprehensive analysis lays the foundation for a strong business strategy.

SWOT & Porter's Analysis

Template 7: Marketing Plan

The Marketing Plan slide outlines the strategies and tactics you will use to capture and retain customers. It encompasses your sales and distribution strategies, promotional tactics, and pricing strategies. This slide details your sales funnel, guiding you through essential steps to convert leads into loyal customers. It's a vital part of your business plan that outlines how you intend to attract, engage, and retain your target audience.

Marketing Plan

Template 8: Operational Plan

The Operational Plan slide delves into the day-to-day workings of your business, both in physical stores and online. It sets specific milestones, providing a roadmap for measuring your progress and keeping your business on track as it works toward its objectives. This detailed plan ensures that your business operations run smoothly.

Operational Plan

Template 9: Financial Plan

The Financial Plan slide is the backbone of your business's financial strategy. It presents your financial assumptions, revenue models, sales forecasts, break-even analysis, projected profit and loss statements, cash flow projections, balance sheet estimates, scenario analyses, and DCF (Discounted Cash Flow) valuations. This comprehensive financial overview is critical for attracting investors, securing loans, and ensuring the long-term financial health of your business.

Financial Plan

Template 10: Management Summary

The Management Summary slide introduces key individuals behind your business. It outlines the organizational structure, summarizes the professional backgrounds of your key team members, and clarifies their roles and responsibilities. Providing insights into your team's expertise and capabilities, this slide inspires confidence in your business's ability to execute the plan and achieve its goals.

Management Summary

Template 11: Exit Strategy

The Exit Strategy slide looks beyond the immediate future, providing a vision for your business's long-term growth and potential exit scenarios. It explains strategies such as Initial Public Offerings (IPOs), mergers and acquisitions, private offerings, or securing venture capital, demonstrating your preparedness for future success and offering a roadmap for investors and stakeholders regarding potential returns on their investments.

Exit Strategy

Walk the Talk: Transforming Potential into Shoe Business Reality

As we conclude this journey through the world of footwear, it's important to acknowledge that the shoe industry is, indeed, a dynamic and challenging landscape, where a few giants cast long shadows. What's clear from this exploration is that success in the shoe business is not limited to the privileged few; it is attainable through strategy, innovation, and commitment to excellence. The likes of Nike, Adidas, and Puma have paved the way, demonstrating the transformative power of strategic planning. Our Shoe Business Plan Templates are your catalyst for change, your passport to emulating the strategies of these industry legends. 

In the end, remember, potential is just that - potential. It needs action to transform it into success. Download our Shoe Business Plan Templates and embark on your journey to industry prominence.

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How to Start a Profitable Shoe Business [11 Steps]

Nick

By Nick Cotter Updated Feb 02, 2024

shoe business image

Business Steps:

1. perform market analysis., 2. draft a shoe business plan., 3. develop a shoe brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for shoe., 6. open a business bank account and secure funding as needed., 7. set pricing for shoe services., 8. acquire shoe equipment and supplies., 9. obtain business insurance for shoe, if required., 10. begin marketing your shoe services., 11. expand your shoe business..

Embarking on a shoe business venture requires a thorough understanding of the current market landscape. Identifying trends, understanding consumer behavior, and scoping out the competition are foundational steps in crafting a successful strategy. Below are key aspects to consider in your market analysis:

  • Research current footwear trends to ensure your product line is in line with consumer preferences.
  • Analyze demographic data to target the right customer segments, such as age, gender, income level, and geographic location.
  • Study the competition to identify gaps in the market that your shoe business can fill.
  • Assess the pricing strategies of existing brands to find a competitive yet profitable price point for your products.
  • Understand the supply chain dynamics, including sourcing of materials and manufacturing processes that may affect cost and quality.
  • Explore retail and distribution channels, deciding between brick-and-mortar stores, online platforms, or a hybrid approach.
  • Gauge the market size and potential growth to estimate the scalability of your business model.
  • Identify potential partnerships and collaborations that can help in brand building and market penetration.

shoe business image

Are Shoe businesses profitable?

Yes, shoe businesses can be profitable depending on the type of business and the market it is in. Many shoe businesses offer a wide range of products and services to customers, including custom designs, and can generate a substantial profit margin if managed properly. Additionally, the cost of production and overhead associated with the business can be low and the potential for growth is high.

Creating a comprehensive business plan is crucial for the success of your shoe business. It serves as a roadmap for your venture, outlining your objectives, strategies, and financial projections. Here's a guideline to help you draft a thorough business plan.

  • Executive Summary: Summarize your business idea, mission statement, product offerings, and goals. Highlight what sets your shoe business apart.
  • Market Analysis: Research the shoe industry, including market trends, customer demographics, and competitive analysis.
  • Organization and Management: Outline your business structure, leadership team, and staffing requirements.
  • Products and Services: Describe the types of shoes you'll sell, their features, and benefits. Include information on product sourcing and manufacturing.
  • Marketing and Sales Strategies: Detail how you plan to attract and retain customers through marketing, branding, and sales tactics.
  • Financial Projections: Provide an analysis of startup costs, pricing strategy, sales forecasts, profit and loss projections, and break-even analysis.
  • Funding Request: If seeking investment, specify the amount needed and how it will be used.
  • Appendix: Include any additional documents such as resumes, product pictures, or research findings that support your business plan.

How does a Shoe business make money?

A shoe business makes money by selling shoes to customers at a marked-up price. This can be done online, through physical stores, or through wholesalers. The business can also offer additional services such as repairs and customization. Additionally, the business may offer additional products such as apparel and accessories, which can be sold at a higher price point than shoes.

Developing a shoe brand is a pivotal step in starting a shoe business, as it sets the tone for everything from your design aesthetic to your marketing strategy. Your brand will become your signature, the unique identifier that sets your shoes apart in a competitive market. Here are some key points to guide you through the creation of your shoe brand:

  • Define your brand identity by choosing a name, logo, and design theme that reflect the ethos and style of your shoes.
  • Research your target market to understand the preferences and needs of your potential customers, tailoring your brand to resonate with them.
  • Create a compelling brand story that connects emotionally with consumers and tells the journey of your brand's creation and its values.
  • Ensure consistency across all platforms and materials, from your website to packaging, to establish a strong, recognizable presence.
  • Develop a marketing strategy that leverages social media, influencer partnerships, and creative campaigns to build brand awareness and loyalty.
  • Protect your brand by registering trademarks for your name, logo, and any unique designs to safeguard your intellectual property.

How to come up with a name for your Shoe business?

First, it is important to choose a name that reflects the style and quality of your shoes. You may want to consider a name that reflects the unique qualities of the shoes you produce. It can also help to research other businesses in the shoe industry to get ideas. Additionally, consider incorporating words that connote strength and reliability. Finally, make sure the name is catchy and memorable, as a great name can help your business stand out from the competition.

image of ZenBusiness logo

Formalizing your business registration is a crucial step in establishing a solid foundation for your shoe business. It legitimizes your venture, protecting your brand and enabling you to operate within legal confines. Here's how to navigate this process:

  • Choose a Business Structure: Decide on a legal structure for your business, such as a sole proprietorship, partnership, LLC, or corporation. Each has different implications for taxes, liability, and paperwork.
  • Register Your Business Name: Check for name availability and register your business name with the appropriate state authorities, ensuring it's unique and complies with state regulations.
  • Obtain an Employer Identification Number (EIN): Apply for an EIN through the IRS. This number is essential for tax purposes and to open a business bank account.
  • Register for State and Local Taxes: Register with your state to obtain a tax identification number, workers' compensation, unemployment, and disability insurance.
  • Obtain Necessary Permits and Licenses: Check with your local government to see what permits or licenses are required to operate a shoe business in your area.

Resources to help get you started:

Explore crucial materials designed for shoe entrepreneurs to gain insights on market trends, operational excellence, and strategic growth plans:

  • Footwear News: Offers the latest news on market trends, new technologies, and business strategies in the shoe industry. https://footwearnews.com/
  • World Footwear Yearbook: Provides statistics and analysis on the global shoe market, including production, exports, and consumption trends. https://www.worldfootwear.com/
  • Sole Supplier Newsletter: Delivers updates on sneaker releases, market trends, and insights directly to your inbox. https://thesolesupplier.co.uk/
  • Shoe Master Magazine: A Japanese publication that includes design inspirations, brand features, and industry news for footwear entrepreneurs and designers. http://www.shoemaster.jp/
  • Small Business Association (SBA) Guide for Fashion Industry Entrepreneurs: Offers guidance on planning, launching, managing, and growing a small business in the fashion sector, including footwear. https://www.sba.gov/business-guide

Launching a shoe business requires compliance with various regulations. To ensure your new venture operates legally, acquiring the right licenses and permits is crucial. Here's a guide to help you through the process:

  • Business License: Register your shoe business with the local or state government to obtain a general business license.
  • Seller's Permit: If you're selling shoes directly to consumers, you might need a seller's permit or sales tax license.
  • Trademark: Protect your brand and designs by applying for a trademark with the United States Patent and Trademark Office.
  • Import/Export Licenses: If you're planning to import or export shoes, check for any necessary international trade licenses.
  • Occupational License: Depending on your location, you may be required to obtain an occupational license for retail businesses.
  • Zoning Permits: Ensure your business location is zoned for retail, and secure a zoning permit if necessary.
  • Health and Safety Compliance: If you have a physical store, you may need to comply with local health and safety regulations and obtain relevant permits.

What licenses and permits are needed to run a shoe business?

The exact licenses and permits needed to run a shoe business vary depending on the location of the business. Generally, businesses require a business license, sales tax permit, and any applicable industry-specific permits or licenses. Depending on the size and scope of the business, additional permits and licenses may be required. For example, for businesses selling alcohol-based products, a liquor license may also be required. Additionally, zoning compliance may be necessary for retail businesses.

Opening a business bank account and securing funding are crucial steps in establishing the financial foundation of your shoe business. These steps ensure that your business finances are separate from personal ones, and that you have the necessary capital to commence operations. Follow these guidelines to set up your banking and funding:

  • Choose the right bank: Research banks to find the one that offers the best benefits for small businesses, such as low fees, high transaction limits, and good customer service.
  • Prepare the necessary documents: Gather all required documents such as your business license, EIN, incorporation papers, and personal identification to open your business bank account.
  • Understand your funding needs: Calculate the initial costs of starting your shoe business to determine how much funding you will need.
  • Explore funding options: Consider various sources such as small business loans, investors, crowdfunding, grants, or personal savings to finance your business.
  • Develop a strong business plan: Create a detailed business plan to present to potential lenders or investors, showing your business’s potential for success and how you plan to use the funds.
  • Build your credit: Maintain a good credit score to improve your chances of securing loans with favorable interest rates.

Setting the right price for shoe services is crucial in ensuring your business remains competitive while securing a profit. Consider factors such as material costs, labor, market rates, and the perceived value of your services to customers when determining your pricing strategy. Here are some guidelines to help you set appropriate prices:

  • Analyze the cost of materials and add a markup to cover overheads and desired profit margins.
  • Research competitors' pricing to ensure your rates are in line with the market while differentiating based on service quality or unique offerings.
  • Consider time-based pricing for labor-intensive services to fairly compensate for the effort involved.
  • Offer tiered pricing options for different levels of service, such as basic repairs, customizations, or premium materials.
  • Implement dynamic pricing for rush orders or seasonal demands to maximize revenue during peak periods.
  • Provide discounts for bulk orders or loyalty programs to encourage repeat business and build customer relationships.
  • Regularly review and adjust prices based on cost fluctuations, customer feedback, and financial goals.

What does it cost to start a Shoe business?

Initiating a shoe business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $107000 for launching such an business. Please note, not all of these costs may be necessary to start up your shoe business.

Starting a shoe business requires careful planning when it comes to acquiring the right equipment and supplies. This step is crucial as it ensures that you have everything needed to produce high-quality footwear and operate smoothly. Here's a list of essential items to consider:

  • Shoe Lasts: These are the molds that give shoes their shape. Ensure you have various sizes and styles to accommodate different shoe designs.
  • Sewing Machines: Invest in industrial sewing machines that can handle various materials like leather, canvas, and synthetics.
  • Leather and Fabric: Source high-quality materials that will be the main component of your shoes. Consider durability, comfort, and aesthetics.
  • Soles and Heels: Purchase soles and heels that are durable and provide comfort. Rubber, leather, and synthetic materials are common choices.
  • Adhesives and Dyes: Strong adhesives are necessary for lasting shoe construction. Dyes and finishes will also be required for aesthetic purposes.
  • Cutting Tools: Sharp cutting tools like knives and scissors are essential for shaping materials.
  • Shoe Finishing Equipment: Buffers, polishers, and stitching machines help in giving the final touches to your shoes.
  • Packaging Supplies: Boxes, tissue paper, and bags branded with your logo will present your product professionally.

List of Software, Tools and Supplies Needed to Start a Shoe Business:

  • Inventory Management Software
  • Point of Sale System
  • Accounting Software
  • Website Builder
  • Product Design Software
  • Shoe Making Supplies
  • Advertising and Promotion Tools
  • Shipping Supplies and Equipment
  • Legal Documents

When starting a shoe business, it's vital to protect your investment and mitigate risks through proper insurance coverage. Different types of insurance cater to various aspects of your business, from property damage to liability claims. Here are some essential insurance policies you should consider:

  • General Liability Insurance: This coverage protects against claims of bodily injury or property damage that can occur in your store or as a result of using your products.
  • Product Liability Insurance: If the shoes you sell cause harm, this insurance can cover legal fees and damages, providing essential protection for your business.
  • Commercial Property Insurance: This safeguards your inventory, equipment, and physical location from events like fires, theft, or natural disasters.
  • Business Interruption Insurance: If an unforeseen event causes your business operations to halt, this policy can help cover lost income and expenses.
  • Workers' Compensation Insurance: If you have employees, this is a mandatory policy in most regions, covering medical costs and lost wages if they get injured on the job.
  • Cyber Liability Insurance: If you operate online sales, this insurance protects against data breaches and other cyber threats.

Now that your shoe services are ready to be presented to the world, it's crucial to craft an effective marketing strategy that captures your brand's unique appeal and reaches your target audience. Here are several key steps to kick-start your marketing efforts:

  • Identify Your Audience: Understand who your ideal customers are and tailor your marketing messages to resonate with them.
  • Build an Online Presence: Create a professional website and engage with customers on social media platforms where your audience is most active.
  • SEO: Optimize your online content for search engines to increase visibility and attract organic traffic.
  • Email Marketing: Collect email addresses and send out newsletters with new arrivals, special offers, and shoe care tips.
  • Collaborations and Partnerships: Team up with fashion influencers and other businesses to reach a wider audience.
  • Local Advertising: Consider local print, radio, or outdoor advertising to target community-specific clientele.
  • Customer Reviews: Encourage satisfied customers to leave positive reviews online, enhancing your reputation and trustworthiness.
  • Referral Programs: Implement a referral program to incentivize word-of-mouth marketing.

Now that your shoe business is up and running, it's time to consider expanding your reach and product line. Growth is an essential aspect of any business, and with careful planning and strategic actions, you can take your shoe business to new heights. Here are some steps to guide you in expanding your shoe business:

  • Explore New Markets: Research and identify new geographical areas or demographics that may be interested in your products, such as international markets or different age groups.
  • Enhance Your Online Presence: Invest in a high-quality website, optimize for search engines, and utilize social media platforms to attract and engage with a broader audience.
  • Introduce New Styles: Keep your product line fresh by regularly introducing new styles, colors, and materials that align with current trends and customer feedback.
  • Collaborate with Designers: Partner with fashion designers or influencers to create unique collections and increase brand visibility.
  • Attend Trade Shows: Participate in shoe industry trade shows and events to network with retailers, distributors, and potential customers.
  • Optimize Supply Chain: Streamline your supply chain for efficiency and cost-effectiveness to better manage increased demand and ensure customer satisfaction.

How to Start a Footwear Business in India? [Investment, Profit]

Footwear are trending these days, gone are the days when shoes served only their practical purposes. Today, shoes are worn as an accessory not just by women but men too. There are a variety of shoes available for different occasions, from a wedding to a sports event to a job interview, the list goes on. Since the demand for footwear exists and can continue to rise, starting a shoe business sounds like a good deal. Decide your niche area, whether you want to sell fancy/ party wear shoes or formal shoes, will the target audience be men or women or both, etc. Through this article, we’ll give you an insight into what important points you should consider before starting your footwear business and how you can start a footwear business in India.

Things You Need to Keep in Mind Before Starting a Footwear Business

Online or offline footwear business:.

  • Online business: The biggest advantage of opening an online business is that there are no rental, electricity, or construction and maintenance expenses involved. An online business can be run from your home itself; all you need is a website, and you’re good to go. Your website should be user-friendly and should look neat. Good social media marketing is needed for the success of an online footwear business.
  • Offline business: The offline footwear business operates in the retail market. Therefore, the first thing you’ll need would be a shop, from where you can sell your products to the customer. This shop should be at least 150 - 200 sq. ft. in area.

footwear retail business plan

Define your target audience:

Defining the target audience helps you to invest your time, money, and energy in the right direction. You cannot be everyone’s favourite, thus, offer your products or services to those that you think would appreciate it. Having said that, as a business owner, you must decide who you want to sell your products to; whether the footwear is to be made specifically for kids, adults, middle-aged people, or for the elderly. You can also categorise your audience according to their sex, income, or any other criterion as per your plan. Hence, instead of beating around the bush, try to keep your plan simple and realistic.

Source of funding:

There are various sources of funding available in the form of business loans, Government grants, friends and family assistance, or your savings. Depending upon your financial health, decide the source of funding you would prefer for starting your business.

Identify your competitors:

Carry out the market research and examine the business model of your competitors. A footwear business is not a new concept, which means that there will be plenty of domestic as well as global rivals. Therefore, it’s important to decide who you want to compete with. If you are manufacturing the shoes for masses, i.e., where people from the lower-income group can also afford to buy that footwear, in that case, your direct competition would be the local retailers.

However, if you want to create a brand and offer your products to higher income groups of the society, you’ll be facing excessive competition from global as well as domestic brands.

Next step would be to visit the rival retail stores to observe their customer base, as these customers will be your target audience. List down the strengthens and weaknesses of these stores, and look for opportunities and threats. Do a SWOT analysis. (SWOT stands for the strengths, weaknesses, opportunities, and threats of your organisation)

Marketplace:

After you’ve researched and worked upon the above-mentioned points, the last thing you need to keep in mind is the location. A location can either make or break your businesses prospects, so think wisely while making location-related decisions. It is advisable to set up your shop near any busy street, such as a supermarket. You can also open your store next to any IT park or any working area, where the crowd is easily visible.

After preparing a blueprint of your business strategy and availing the funding required to start the shoe business, the next step is to get your business registered. Let’s look at how one can register their retail business in India.

Also read: Shoe Manufacturers in India

Shop Act-License:

This is one of the most vital legal requirements for starting any business, as you can sell your product with this license. This license is also known as Ghumasta or Gumasta license in other parts of India. The registration process for this license can be completed by filling up the Shop-act Form as per the Shop Act of the state where you’ll be setting up your business in and by submitting the following documents -

  • Application letter to the municipal corporation of your state.
  • Documents, such as identity proof (PAN, Aadhar, etc.), address proof (electricity bill), proof of the property/ establishment (shop picture) are needed.
  • Authority letter for business.

GST number:

Every wholesaler and retailer has a GST number. To obtain a GST number, you’ll be required to show a Shop license. Reach out to a CA, who can help you in generating a GST number or you can simply visit www.gst.gov.in . Click on new registration, and a form will appear. Fill the required information in the form. Please note that the location column should include the name of the state where you want to do your business. Next, you’ll be asked to verify the OTP, which will be sent to your mobile number or email address. After completion of this process, a temporary reference number (TRN) will be generated (remember to copy-paste the TRN on your clipboard). Further, you’ll be required to fill in your just generated TRN. Click on proceed and verify the OTP once again.

A dashboard will appear after finishing the process. Your application form and expiry date of the application form will be shown on that dashboard. Fill the accurate information in that application form, and after verifying your e-signature, your application will be submitted successfully.

Current account:

Current account is an account used by business owners. Just like a savings account is used to promote savings and investments, the current account is used to promote businesses. It is a deposit account, which can be opened with any bank to manage your business transactions. The difference between a current and savings account is that you don’t get interest in the former. A minimum balance is required to be maintained under the current account (like, SBI has a minimum requirement of INR 10, 000).

The best part is that unlike a savings account, where there is a set limit for day to day transactions, you can perform unlimited transactions per day under the current account if you are making payments through cheques or online payments. The facility of online banking and overdraft facility up to a pre set limit is available.

Marketing the business:

Once you’ve completed all the legal processes and are now ready to operate your business, the next crucial step is marketing! As already mentioned before, in the footwear business, you are going to face a lot of competition, since it doesn’t fall under a unique business category. Therefore, to get your business going, you’ll need to market your footwear.

The best option would be to opt for digital marketing; upload pictures of your product on Instagram, Facebook, Pinterest, etc., to promote your business. These advertising methods are cost-effective compared to traditional marketing techniques. Set up a footwear page on Instagram, hire some micro-influencers to create a brand image and there you go!

footwear retail business plan

Before starting any business, it’s important to have a well-planned strategy ready so that you can create your services and products according to your target audience as well as choose the best source of the available funding. Starting a business is not rocket science, however, making it capable of growing and creating goodwill is not easy. The competition is extremely high, and those with a proper plan and robust strategy are likely to thrive.

Also read similar how-to guides on:

1) Kirana Business 2) Dropshipping Business 3) Food Delivery Business 4) Car Dealership Business 5) Artificial Jewellery Business 6) Best Shoe Brands in India

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more! Download OkCredit now & get rid of your bookkeeping hassles. OkCredit is 100% Made in India.

footwear retail business plan

Q. What are the requirements for starting an online shoe business?

Ans: A GST number is mandatory. Apart from that a domain name, business formation papers, website, necessary sales tax and licensing requirements, workspace, and packaging materials are needed.

Q. How can I register my eCommerce footwear business?

Ans: Government registration is important. You can complete this process on your own without needing to hire a CA. There are four types of online registrations, namely, sole proprietorship, registered partnership, LLP partnership, and private limited company. The registration process is similar to any other offline business. If you are running a small eCommerce business, choosing sole proprietor and registered partnership options are more suitable.

The process can be completed on the website: www.incometaxindiaefiling.gov.in . Here, you can register any type of firm, and you can also generate your GST number.

Q. How many days does it take to complete the online registration process?

Ans: The process takes a minimum of 7 days to a maximum of 21 days to complete.

Q. Do I have to pay extra charges for opening or maintaining a current account?

Ans: No, you don’t need to pay any extra charges.

Q. How many current accounts can a business create?

Ans: Usually, banks insist on opening a single account with one bank. However, if you require multiple accounts, you can open them with different banks. But, you’ll need to disclose these multiple current accounts to the banks from where you enjoy credit facility.

Read the best of business ideas, tips for small businesses, the latest update on technology & more by OkCredit.

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Athletic Shoe Store Franchise Business Plan

Start your own athletic shoe store franchise business plan

The Athlete's Foot

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

The Athlete’s Foot store in Pine Ridge Square will become the athletic footwear headquarters for the City of Coral Springs, Florida.

There are 29,000 school-aged children, of which over 11,000 participate in the city’s 16 structured athletic programs. There are 27 schools, with varying degrees of athletic programs, within three miles of the proposed location.

There are 57,000 adults between the ages of 20 and 54 within three miles of the center. That is the prime age of Florida’s running community. In January’s Walt Disney Marathon & 1/2 Marathon in Orlando, there were approximately 250 participants from Coral Springs, Coconut Creek, and Parkland. That is just an example of the abundance of dedicated runners in the community. There are no stores in Coral Springs which offer a collection of “serious” running shoes, or offer the novice or “less serious” runner a quality selection and education on the proper style, fit, and sizing for their needs.

The Athlete’s Foot will focus on the above two market segments. By capturing those primary customers, the balance of residents with sports shoe needs will be drawn to us, the obvious headquarters for athletic footwear.

The store will be located at the intersection of University Drive and Wiles Road. The key co-tenants are: Fresh Market, Bed Bath & Beyond, Blockbuster Video, Play It Again Sports (they do not sell athletic shoes), a 10,000 sq. ft. daycare center, a children’s and young men’s specialty clothing store, a learning center, four restaurants, and several other youth-oriented businesses. At the same intersection are: Kmart, Steinmart, Winn Dixie, McDonald’s, Wendy’s, three banks, six additional restaurants, and three gas stations. In total, there is approximately 400,000 sq ft of retail space at this intersection. University Drive is being extended north through Boca Raton. Wiles Road is being extended east, through Coconut Creek. There are approximately 55,000 cars per day traveling through the intersection.

There is minimal competition within Coral Springs. There are several “Mall” stores, which cater to a fashion athletic footwear customer. They offer limited service and virtually no technical knowledge or expertise for running shoes. As well, they make minimal effort at capturing the “sports specific” footwear, such as soccer, baseball, or football cleats, or related accessories.

The Athlete’s Foot will be a franchise of The Athlete’s Foot, Inc., recognized as the world’s leader in athletic footwear franchising. The Athlete’s Foot has over 700 company owned and franchised stores in 33 countries. By becoming an Athlete’s Foot franchise, we benefit from a comprehensive support program that includes:

  • Access to special vendor discounts including; Nike, Reebok, Fila, New Balance, Adidas, Converse, Brooks, etc.
  • Advice and assistance in real estate selection and negotiation
  • Proven store design, fixturing, and layout
  • Planned merchandising system, assortment direction, and coordinated inventory control
  • Comprehensive training in all facets of the athletic footwear business through required seminars and workshops
  • Ongoing support through video, monthly publications, regional meetings, and co-franchise networking
  • National Advertising Program and assistance with the local advertising campaign
  • The most sophisticated “Fit Technician” and Research and Development programs in the industry.

Athletic shoe store franchise business plan, executive summary chart image

1.1 Objectives

The primary objectives of the business plan for The Athlete’s Foot are outlined below.

  • To make The Athlete’s Foot the headquarters for athletic footwear by offering knowledgeable and professional customer service. Customer service will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of our non-running and 60% of our running shoe sales are accompanied by an additional purchase).
  • To be an active participant and supporter of the Coral Springs Athletic Community and to develop a youth and adult running club to promote a healthy lifestyle through exercise. Our goal is to have 150 running club members by the end of the 18th month of club operation.
  • To achieve a 33% increase in sales year two and maintain a minimum annual increase of 15% thereafter.

1.2 Mission

The Athlete’s Foot is a retail store specializing in the sale of true athletic footwear for the entire family. The store will emphasis the sale of children’s athletic shoes and a full assortment of men’s, women’s, and children’s running shoes and accessories. We will provide consumers with technical knowledge on the proper fit and style of athletic footwear for their various needs. We will be the only full-service athletic footwear store with quality, knowledgeable sales help in this city of 100,000 people.

Our goal is to be the headquarters for the Coral Springs athlete. Coral Springs has one of the largest and most sophisticated community athletic programs in the United States. There are approximately 29,000 school-aged children within three miles of the planned store location.

We believe that to attain our headquarters position, we will need to become a visible member of the athletic community through sponsorship, seminars, team and league promotions and the development of a community running program.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

The Athlete’s Foot sells quality athletic footwear for the entire family, specializing in running shoes and accessories. We have selected a location in a renovated shopping center anchored by Fresh Market, Bed Bath and Beyond, Blockbuster Video, and four restaurants. The balance of tenants caters primarily to children. The quality of our customer service and the lack of competition in the city will allow us to quickly become the footwear headquarters for the local individual athlete and various teams, leagues and schools. This Athlete’s Foot store, while part of a worldwide chain, will be family owned and operated.

2.1 Start-up Summary

The start-up costs include:

  • Store build out the store and operations 
  • Inventory control, (computers and cash registers)
  • The foot scanner and fixture
  • Opening inventory
  • Franchise Fee.

Start-up costs will be financed through a combination of owner investment, short-term loans and lines of credit, and long-term borrowing. The start-up chart and table show the distribution of the planned financing.

Athletic shoe store franchise business plan, company summary chart image

The Athlete’s Foot will sell the latest and most popular name brand athletic footwear for the family. Consumers will be educated as to the proper size, style, fit, and design needed for their particular use and foot characteristics. We will offer athletic footwear and accessories for almost every sport and active use. We do not intend to initially sell golf shoes or skates.

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The opening order will be placed through The Athlete’s Foot Corporate Warehouse, with their assistance as to styles and size runs. We will also be working with several other franchisees who have family footwear and specialized running stores for their input into our merchandise assortment. Over the first year, we will eventually place orders directly with the manufacturers, always having The Athlete’s Foot as backup for stock if required, due to a run on a popular shoe.

Market Analysis Summary how to do a market analysis for your business plan.">

There are approximately 110,000 residents living within three miles of Pine Ridge Square. Twenty-six percent, (29,000) are between the ages of five and nineteen. Fifty-two percent, (57,000) are between the ages of twenty and fifty-four. Coral Springs has one of the strongest youth athletic programs in the country. There were 11,359 children participating in the 16 various sports programs throughout the year. In addition, through the YMCA and other non-municipal sponsored leagues and programs there is an additional 3,500 children participants. This does not include the residents of neighboring cities like Parkland and Coconut Creek, which are within the market area and have an additional 3,000 participants. The city has 47 public parks, of which the six largest are devoted solely to athletics. The three-mile radius has four high schools, four middle schools, and 14 elementary schools in the public school system. There are an additional five private schools and three new schools planned for the next 18 months. Coral Springs is a young, active community, with outdoor sports played year round. The need for cold weather boots and shoes does not exist, therefore, athletic shoes are worn year round.

The residents of Coral Springs are in the upper income brackets, with an average income of approximately $68,000 per year. Eighteen percent of the area’s population earn in excess of $100,000 per year. In the next three years, that percentage is expected to increase to 25%. This affluent, active resident is willing to buy the latest in athletic footwear, if the service and assortment are strong.

The top two ACORN Consumer Groups determined by CACI, an international information technology corporation, within three miles are: Prosperous Baby Boomers, (30.7%) and Baby Boomers with Children, (17.4%). These are our primary target markets.

While we have focused on the immediate three-mile radius of residents, the co-tenancy of Fresh Market and Bed Bath and Beyond will generate customers from a 5 – 7 mile radius. Additionally, there are two specialty retailers in the center, Widensky’s Children’s Clothing and Jonathan Reed Young Men’s Clothing, which have a customer base throughout Broward and Palm Beach Counties.

We are confident that we will capture the true athletic adult with our assortment and service. By capturing the children’s business, through the same assortment and service, we can also become the “family athletic footwear store.” While the typical “family adult” may not be as “active” as our target runner, the convenience and professional service we will provide will allow us to become “their” athletic footwear store.

To recap, our target markets are:

  • The True Athletic Adult
  • The True Athletic Participant Children.

By serving these customers well, the balance of the less active community will identify The Athlete’s Foot as the athletic footwear headquarters.

4.1 Market Segmentation

The Athlete’s Foot feels there are two types of customers the store needs to attract: the Runners and the Non-runners. These groups are subdivided in the following sections.

4.1.1 Runners

  • “True Runner” – Runs between 20 – 40 miles per week. This person is generally between 30 – 45 years old, both male and female. This segment may also include high school track and cross country runners. This person wants the latest in technology, regardless of price. The True Runner would be the running circuit’s answer to the “computer freak.” You may find him/her running at 5:00 a.m. or 10:00 p.m., whenever it can be fit into his/her schedule. The True Runner frequently runs in races throughout Florida and may even travel further to combine races with social visits or vacations. Generally, the True Runner is in the upper income brackets. There are 6,000 families earning over $100,000 per year within three miles of the proposed location.
  • “Weekend Warrior” – May run up to 20 – 25 miles per week, but most of that is on Saturday and Sunday. A job or family restriction may not allow running to be scheduled during the week. This segment includes males and females between the ages of 25 – 35. This person is most frequently the parent of a young family and is looking for quality and an affordable price. The Weekend Warrior will run in local races. Typically, the Weekend Warrior is in the upper-middle income bracket: often two spouses working, with substantial disposable income. There are close to 12,000 families in this income bracket within three miles of the proposed location.
  • “Running for Attention” – People in this segment run 6 – 10 miles per week. He/she wants to look like a runner regardless of ability and will frequently go to parks, the beach, and other highly visible places to run. Most often is a single person looking to meet other singles. Interested in the latest styles, but, he/she must look good. A person who is Running for Attention purchases coordinated outfits and accessories, running bottles, and timing watches. This segment also spans both males and females between the ages of 30 – 55. A member of this segment can be seen frequently at races, but not always running. He/she also belongs to local health or tennis club. There are approximately 7,000 single households within three miles of the proposed location.
  • The first is the ex-high school or college runner. He feels the need to remain active/competitive, but does not have the discipline to train alone. Will become an active runner in spurts, but not consistently because he needs motivation. Typically, the Running for Need segment is comprised of males between the ages of 18 – 30.
  • The second are the individuals who have been told by a doctor, spouse, or employer that they need to get into better shape … or else! This is a very enthusiastic runner initially, but, quickly realizes that this is not always fun and can become very boring. Again, not a consistent runner, but, can become one if they remain motivated. Motivation relies heavily on the support of  family and friends. While it is impossible to determine the number of people in this segment, these folks may be one of the easier to contact. Through medical journals, health food stores, and medical offices, this is a prime target for referral marketing.
  • “Running Fashion” – This is someone who purchases running shoes, but, is not a runner. He/she simply likes the style or the feel of a quality running shoe. Many working people on their feet for extended periods, factory workers, delivery people, airport employees, any type of outdoor work not requiring safety shoes, and students are a few examples.

4.1.2 Non-runners

  • Infants – While not a high volume, the first pair of shoes for most infants is an athletic style. The first pair of Nikes or Pumas can be a very proud moment in a young family’s development. Being able to properly measure and fit an infant’s foot is critical to developing a following in this market segment. Credibility in the sales to the parents or older sibling will determine if you receive to opportunity to serve the newest member of the family. There are approximately 6,000 children below the age of five within three miles of the proposed location.
  • Children – Possibly the most important segment other than adult running. With approximately 20,000 potential customers, this group must be a primary focus for any family business. Regardless of athletic level of participation or interest, virtually every child has at least one pair of athletic shoes. More often, children have several, depending on their preference of sports or style. The importance of capturing this business is intensified based upon the built-in obsolescence due to the growth of their feet. There are approximately 17,500 children between 5 – 12 within three miles of the proposed location.
  • Teens – This used to be the most important segment in athletic footwear. The local teen boy and girl had to have the new Michael Jordan high-tops, at $100, every eight months. Today, that need has diminished, but teens still remain a critical element to a successful athletic shoe retailer. While it may not be the “required” footwear in middle or high school, it remains a primary asset of every teen’s wardrobe. Due to their ever-present concern for being in style, most Coral Springs teens still require name brand, in-style athletic shoes in their stable of footwear. As well, every teen needs a pair for practical use. That may include participant sports, physical education class, or simply something to wear with jeans. Teens also wear a lot of sandals and athletic aqua/sandals, which are newer categories in athletic footwear stores. Coupled with their still-growing shoe size and concern for the latest style, teens remain an important focus. There are approximately 10,500 teenagers within three miles of the proposed location.
  • Adults/Non Participant – While some adults never participate in a sport, almost all own a pair of athletic shoes. The non-participant adult may be the most difficult segment to capture. The upper income adult will still want name brand newer styles. The middle and lower income adults will look to the discount department stores and “discount shoe warehouse” concepts for practical athletic footwear. This customer is also less concerned about customer service and the proper fit, since they are not as hard on their athletic shoes and buy less frequently.
  • Active Young Adult – Twenty to twenty-four years old. This is a small segment, approximately 5,500 people, but these individuals tend to be very active. Participating in sports is still a social activity for this primarily single group. Baseball, Basketball, Softball, Soccer, and Flag Football leagues are popular with this age.
  • An active, upper income participant will look for quality, name-brand footwear based upon the sport that requires the purchase. These adults are willing to pay a higher price for a new style or features they deem are important.
  • The active middle income participant will again look for a quality shoe at a competitive price. This group may not require the newest style, but still wants good quality with basic features for the sport they participate in.

Athletic shoe store franchise business plan, market analysis summary chart image

4.2 Target Market Segment Strategy

We will focus on two primary market segments:

  • The “Active Family” – The Active Family will be the focus of our non-running marketing effort. They give us the largest target, most opportunity for multiple sales, and allow us to gain further access into the community’s numerous leagues. A typical active family would be described as parents in their late 30’s and early 40’s with two children. If the children each play two sports, that would require a minimum of two pair of shoes per year, for each. If the parents are also active, that could amount to an additional two pair per year. With the need to purchase six pair of shoes per year, we expect this family to make shoe purchases anywhere from three to six times during the year. They may visit the store an additional three to four times for accessories or simply to browse while in the center. For example, there are 13,000 participants in the Coral Springs Youth Soccer Program. Every one of them needs a new pair of soccer cleats every year. Currently, they need to leave Coral Springs to get a good selection of styles. This is a volume customer, but our goal is that the entire family comes along for the ride, and through service and knowledgeable sales help, an additional sale is consummated. This average sale will be approximately $40.
  • The “True Runner/Weekend Warrior” – The next most important segments will be the participant runner. The average sale for this customer will be between $70 – $90. This customer should always make an additional purchase when visiting. Running socks, running apparel, running accessories, or supplements should be added to this ticket. By capturing the True Runner, the less serious runner will be attracted to the store to be able to associate with their more serious counterpart.

We anticipate that 70% of our annual volume will come from these two classifications. The balance will be sport-specific buyers and non-family participants.

4.3 Industry Analysis

The retail athletic footwear business has been tarnished in the past two years due in part to the failure of several highly visible large store formats. Most recently, Just For Feet filed Chapter 11 and is currently liquidating the entire company stock. In addition, several large general sporting goods retailers have either closed entirely or reduced the number of stores in the chain. There are a number of reasons for this demise, the lack of demand for high-priced basketball shoes being a primary reason.

For the general sporting goods chains, the drop in basketball shoe sales as well as the drop in popularity of NBA/Logo clothing has taken it’s toll. The “superstore” concept in the sale of athletic shoes has proven to be unsuccessful. You can sell as many shoes in 2,000 sq. ft. as they were selling in 15,000 sq. ft. Neither of those concepts provided competent customer service in the purchase of a pair of participant shoes. Too many styles causing broken size ranges and constant clearance sales educated the consumer to not rush out to buy a new offering. Anyone looking for technical information when purchasing a pair of running shoes was simply unable to find it.

Successful athletic shoe stores are offering quality customer service and a strong assortment of the new style of shoes. They must also offer shoes in all price ranges, to assure that the entire family can be satisfied.

Our aggressive sales and marketing approach, while slightly reducing the gross margin, will allow for anticipate significant increases in volume (33% year two), to offset any reduction in net profits.

4.3.1 Competition and Buying Patterns

When purchasing athletic footwear, customers need a knowledgeable sales person to guide them to the proper shoe. By offering our exclusive Athlete’s Foot Computerized Scanner, as well as extensively trained associates, called Fit Technicians, we will provide the most sophisticated service in the market.

The competition within Coral Springs consists primarily of the regional mall athletic footwear stores. There are three stores in Coral Square Mall, all company owned. These stores cater to the “fashion athletic” customer. Coral Square Mall is a “B” mall, and has a reputation within the community of being a “hangout” for teenagers and gangs. The true participants generally have to leave Coral Springs for Boca Raton or East Ft. Lauderdale to shop in specialty running or sporting goods stores. Our advantage over these mall stores will be superior customer service and technical knowledge, and a more convenient atmosphere, which the mall stores cannot reproduce.

There are three children’s specialty stores that carry infant and children’s athletic footwear in Coral Springs. One is well entrenched in the community and will be a difficult competitor. Our advantage over these stores will be our larger assortment, specialty sport shoes (which these stores do not carry, ex; soccer and baseball cleats), and the ability to serve the entire family’s athletic footwear needs. Our challenge will be their ability to provide non-athletic shoes for the youth customer.

The other competition will come from discount department stores (Wal-Mart, Kmart, Target), and discount “rack” shoe stores (Payless, Rack Room, Famous Footwear). These stores will serve the non-participant athletic shoe customer, which is not a primary customer of ours. We will carry an assortment of discontinued and clearance shoes, which should help us to be competitive with these stores.

Strategy and Implementation Summary

The Athlete’s Foot uses a strategy of providing a service to the entire market. While we will focus on our two primary customer segments (active families and runners), we offer a product that virtually every consumer requires.

We will create an atmosphere that is appealing to the “true athletic footwear customer.” The balance of customers will come because they will see this as the “place” where athletes buy their shoes.

The store will be merchandised in an exciting, athletic atmosphere. Televisions will continually play tapes of sporting events and live sports broadcasts. There will be posters highlighting the top athletes and their athletic shoe choices. There will also be a section to pick up information about upcoming races, events, and seminars. Eventually, race sign-ups will occur in the store as well as presentations from shoe manufacturers, product representatives, nutritionists, trainers, coaches, runners and hopefully, professional athletes.

Strategic Assumptions:

  • Every resident in Coral Springs is a potential customer.
  • This location and co-tenancy gives us an opportunity to draw customers from outside Coral Springs.
  • By marketing to our two target segments, we will expose ourselves to additional new customers.
  • We will aggressively pursue the community sports programs through sponsorships.
  • We will build a running club/program, that caters to the “average” runner, versus the other clubs which cater to a more serious competitive runner.

5.1 Competitive Edge

Initially, our competitive edge will be the recognition of The Athlete’s Foot as a national chain. There is a sense of comfort buying from a large chain. Our complete assortment and high-tech design will also immediately appeal to customers.

The other edge we want to develop in the future is to be the “meeting place” for Coral Springs runners. This will be accomplished through our planned running club, sponsored races, sponsored fun runs, run for health awards programs, children and adult running clinics, and footwear seminars. In addition, we will be stocking a full assortment of running supplements, hydration fluids, protein bars, and other items that may be needed on a short notice basis. We have even envisioned a credit system where local runners can plan a rest/drink break in the store when running the local paths. They can stop in for hydration fluids or protein bars without having to carry money.

We have spoken with the Director of the Parks & Recreation Department for the City of Coral Springs. He has indicated that he would consider a program where The Athlete’s Foot offers participants a 10% discount on all shoe purchases from the store. The customer would receive 5% and the league would receive 5%. In this manner, the league would support and promote the opportunity by including a flyer/coupon in the sign-up package for each participant.

5.2 Sales Strategy

All potential sales will be attended to in a timely fashion. While there will be a sales incentive bonus program, long-term salesperson relationships will take precedence over sales closures. Our goal is that 50% of our customers return within six months. We will market directly to the customer through mailings, phone calls, league presentations, and Internet/email contact.

Sales associates will be trained to “turn-over” a customer who has a more specialized need, if they cannot fully service the requirement.

Special orders will be encouraged as a method to satisfy a specialized need. We will enforce as liberal a return policy as possible. Because of our affiliation with the 700-store Athlete’s Foot chain, we can demand a higher level of service from vendors in regards to returns and special orders.

5.2.1 Sales Forecast

The following table and chart show the forecasted sales for The Athlete’s Foot.

Athletic shoe store franchise business plan, strategy and implementation summary chart image

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The Athlete’s Foot Franchise will be owned by Jane and Howard Lefkowitz. Jane has been a public school teacher for the past 14 years in Dade County, Florida. Howard is the President of Sizeler Real Estate of Florida. Inc., which manages, leases, and develops 1 million sq. ft. of retail property in Florida for a NYSE REIT. Jane will run the daily operations of the business, including community relations. Howard will continue in his current position at Sizeler, but will assist in the buying, financial planning, and weekend coverage.

6.1 Personnel Plan

The personnel plan is included in the following table. It shows the anticipated salary of the owner, assistant manager, full-time associate, and three part-time associates.

Jane Lefkowitz will manage the store on a daily basis. There will be a salaried assistant manager. We anticipate one additional full-time employee. One of these three people will open and close the store each day. The three part-time associates will work nights and weekend hours. In addition, Jessica Lefkowitz will work an average of one night and one weekend day per week. Howard Lefkowitz will also assist on the weekends. Salary and hourly wage estimates are detailed in the table below.

Below we have created a brief job profile and anticipated employee characteristics for each position. As we have stressed throughout the plan, customer service and knowledgeable employees are a primary focus for The Athlete’s Foot.

Assistant Manager:

  • Responsibility for opening and closing the store, receiving and stocking inventory, upkeep of the customer data base, visual merchandising and customer service. Also, share in the supervision and training of staff.
  • This person would not necessarily need to be athletic or a runner. We are looking for dedication, honesty, strong work ethic and either some retail management experience or a strong business sense. Although a college graduate would be preferred, our salary projection may preclude that. This position has the most flexibility, due to the importance of experience and reliability. This associate would do less selling and more stock work and supervision than the others. A middle-aged woman whose children are in high school and is looking to get back into the work force may be an ideal candidate. In addition, a recent high school or military service graduate with a strong work ethic may also fit this position. This position will be eligible for a monthly overall sales incentive and annual goals bonus.

Full-time Associate:

  • This position will be primarily customer service oriented. This person will also assist with store opening and closing, as well as receiving merchandise. We would anticipate that this individual would have several specific areas of responsibility outside of sales. Those might be vendor returns and sales floor pricing.
  • This associate would preferably have a background in retail shoe sales. They need the flexibility to work nights and weekends as required. We would like this associate to be a local resident, active in the community, possibly in the sports programs. A runner would be ideal for this position, but, certainly we cannot count on finding a person with each of those credentials. This position will be eligible for a sales-based incentive program.

Part-time Associates:

  • These associates would focus primarily on customer service. They will be working during the peak sales periods, in the evenings, and on weekends. They will need to be outgoing, friendly, professional, and presentable. They will need to be able to work well with children. While this type of position in our competition is generally filled with teenagers, we will be looking for local athletic teachers, coaches, and athletes who are looking to supplement their income. There will be a bonus program for generating leads on community contacts and sponsor programs, as well as for exceeding their sales goals.

Financial Plan investor-ready personnel plan .">

Sales growth will be aggressive the first 18 months as we sharpen our merchandise assortment, size scales, and stock levels to better meet our customer’s requirements. We anticipate a sales increase of 33% during our second year of operation.

Marketing will continue to average 3% of total sales.

We will invest residual profits into reducing debt and the lost income from large cash holdings.

Company expansion, while not a necessity, will be an option if sales projections are met and/or exceeded.

7.1 Important Assumptions

  • The Athlete’s Foot will grant a restriction against competitive stores within four miles of this location, other than the existing store in Coral Square Mall.
  • The Athlete’s Foot will continue it’s program of promoting better running shoes on a national level.
  • The space selected for this store will require minimal demolition and no changes to the restrooms, electrical, plumbing, or storefront to open The Athlete’s Foot.
  • Bed, Bath & Beyond, Fresh Market and Blockbuster, which have all confirmed that these are strong locations, will remain in the center for at least the first three years of our operation.
  • We will be able to become an active sponsor of community sports within the City of Coral Springs.
  • We anticipate that we will be able to complete required financing, lease documents, franchise documents and space buildout to allow for a July 2000 opening. If not, we would most likely open in October, to be prepared for the holiday season.

7.2 Projected Profit and Loss

We predict that during the second year of operation, our high level of customer service and strong assortment will allow us to generate approximately 5% profit. This will be above the normal two to three year period required for a start-up retailer. Our sales projections are conservative. Should sales increase as we anticipate, the profit-to-sales ratio could be as high as 10% by the end of year three.

Athletic shoe store franchise business plan, financial plan chart image

7.3 Break-even Analysis

A Break-even Analysis table has been completed on the basis of average costs/prices. With fixed costs, per average sale and average variable costs, we need monthly sales, as shown below, to break even.

Athletic shoe store franchise business plan, financial plan chart image

7.4 Projected Cash Flow

We are positioning ourselves as a minimal risk concern, with steady cash flows. While we have not accounted for it in the projections, we anticipate receiving two or three months free base rent after store opening. That will help us reduce costs and increase marketing during the start-up period. We have allowed for a more aggressive cash balance initially, to allow us to react quickly to unforseen merchandise needs, missed classifications, “hot item” reorders and hopefully, higher than anticipated sales. This is particularly important for our first back to school and holiday sales periods. If we capture previous “mall customers” as anticipated, our sales could increase as much as 25% during the first two quarters of operations.

Once we have established a required cash balance level, (approximately six months after opening), we will reduce the projected cash balance to decrease debt and decrease the opportunity of cash held.

Athletic shoe store franchise business plan, financial plan chart image

7.5 Projected Balance Sheet

All of our tables will be updated monthly to reflect past performance and future assumptions. Future assumptions will not be based solely on past performance but rather on economic cycle activity, regional retail indicators, national athletic footwear trends, and future cash flow possibilities. We have been, and will continue to be, working with an experienced partner in a large and well respected regional CPA firm, who has both personal and professional experience in start-up retail operations.

We expect solid growth in net worth beyond the first fiscal year of operation.

7.6 Business Ratios

The following table contains important business ratios for the retail athletic shoe store industry, as determined by the Standard Industry Classification (SIC) Index code 5661.

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Puma thinks its Palermo sneakers might be this year's Adidas Samba

  • Puma posted quarterly earnings on Wednesday that pushed shares 12% higher.
  • The German sportswear giant flagged rising demand for its Palermo sneakers.
  • The "terrace" trend has helped boost sales for Puma and arch rival rival Adidas in recent years.

Insider Today

Puma touted rising demand for its retro terrace-style range on Wednesday as it posted first-quarter earnings that were in line with analysts' expectations but still sent shares soaring.

The German footwear giant's net income and earnings per share fell for the three months ending March 31, but its sales in the Americas rose for the first time in four quarters.

Puma also said its profit margins had improved "despite major currency headwinds," with the soaring US dollar causing the euro to weaken this year.

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In a news conference, CEO Arne Freundt flagged rising demand for the Palermo, which was commonly worn on European soccer terraces in the 1980s.

Puma relaunched the footwear line last year, tapping up high-profile celebrities including pop superstar Dua Lipa and Manchester City FC winger Jack Grealish to promote the retro shoes.

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"We are only six months now in the market with the Palermo, and we see how the franchises are continuing to grow in strength," Freundt said.

Soaring demand for a similar terrace-style shoe sold by Adidas, the Samba , was one of the defining fashion stories of last summer, although the Puma rival recently said it would work to manage demand in a bid to stop the brand becoming a victim of its own success.

Last month, UK Prime Minister Rishi Sunak was widely mocked after attending an interview wearing a pair of Sambas, causing some Britons to conclude that the trend was dead .

"Anybody in the world can wear our product and I'll be happy if they wear it," Adidas CEO Bjørn Gulden said on an earnings call last week, in response to a question about Sunak's choice of footwear.

Shares in Puma, which is listed in Frankfurt, jumped just over 12%, wiping out this year's losses and valuing the company at about $8 billion.

However, that pales in comparison with Adidas, which is worth about $43 billion after the stock rose 22% so far this year.

Watch: How Adidas, Asics, and other shoemakers deal with waste

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Australia’s Bared Footwear Opens First US Store in New York City

Stephen Garner

Stephen Garner

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Bared Footwear, Bared, SoHo, store, shoe store, NYC

Australian shoe brand Bared Footwear has opened up shop in the U.S. for the first time in its 16-year history.

According to Anna Baird, founder and owner of Bared Footwear, the company opened the doors to a new store at 152 Spring St. in New York City’s SoHo neighborhood on Thursday in a space formerly occupied by fellow Australian shoe brand R.M. Williams.

The opening marks the brand’s inaugural brick-and-mortar location outside of Australia – a major milestone in the brand’s growth trajectory as it seeks to expand its global retail footprint.

For Baird, opening this new store in the U.S. is a bit like starting over. “After 16 years, we do have a large audience in Australia,” the founder told FN in an interview. “So, it’s definitely like starting again. I feel like I’ve gone back in time, as we stake our claim in a brand-new market.”

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Baird, a podiatrist-turned-entrepreneur, started Bared Footwear in 2008 with the focus on designing shoes that look good and feel good. Offering men’s and women’s styles, each shoe features a unique biomechanical footbed and hidden support elements.

And now that the brand is on solid footing in Australia, Baird is ready for the next steps by going international. Over the last few years, the founder noted that the company’s U.S. customer base has grown exponentially through its online business. Overall, online sales account for 70 percent of Bared’s global business, Baird noted. But stores remain an essential part of the experience, as all locations offer a unique and custom fitting process for each pair of shoes purchased – harkening back to the founder’s podiatrist background . 

Bared Footwear, Bared, SoHo, store, shoe store, NYC

“Opening the doors to our first store outside of our home country of Australia is a significant landmark for the brand as we look to scale our business in the U.S. and around the world,” Baird said. “New York is well known as one of the biggest walking cities in the world, so we knew it was the perfect place to start.”

Built by the team at Turnkey & Bespoke and designed by Ryann Swan Design, a New York-based interior design firm, the new SoHo space is intended to feel welcoming through the use of natural and textural materials as well as lush greenery.

The store will carry an extensive inventory of products across categories, including an early release of some of the brand’s 2025 summer collection, prior to its launch in Australia.

Bared Footwear currently operates five flagship brick-and-mortar stores in Australia, with New York bringing the total to six. In July, the brand will open its first retail location in New Zealand , and Baird has her sights set on Los Angeles next.

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National Nurses Week 2024: Chipotle's free burrito giveaway, more deals and discounts

Nurses should be celebrated every day, but they do have a special week: national nurses week, which runs may 6-12. restaurants like chipotle and buffalo wild wings have specials during the week..

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Chipotle is giving away 100,000 burritos for National Nurses Week. And you don't necessarily have to be a nurse to get in on the deal.

From Monday, May 6, to Friday, May 10, healthcare workers can sign up for a chance to win a free burrito e-card on the Chipotle website . At the end of National Nurses Week, 100,000 healthcare workers will be randomly selected to get an email asking them to verify their employment status via ID.me. Those who successfully verify that within 48 hours will get a free burrito e-card.

Customers can get in on the action, too, by purchasing limited-edition Chipotle Healthcare Heroes E-Gift Cards online; 10% of the proceeds from the gift card purchases will be donated to the American Nurses Foundation. And throughout the month of May, you can round up your online or app orders to the nearest dollar amount. 100% of those proceeds will go to the foundation.

National Nurses Week 2024: A RN reflects on the state of the profession, calls for change

When is National Nurses Week?

National Nurses Week is observed annually May 6 through May 12.

What is National Nurses Week?

National Nurses Week grew out of a congressional resolution and proclamation signed by President Reagan in 1982 deeming May 6 as a National Recognition Day for Nurses.

The American Nurses Association board of directors expanded this to a National Nurses Week in 1990. The permanent dates for the week were designated in 1993 to be officially observed starting in 1994.

The week includes National School Nurses Day on May 8 and May 12, the birthday of Florence Nightingale, which has been celebrated as International Nurse Day since 1974.

More ways to save: Visit USA TODAY's coupons page for deals from thousands of vendors

National Nurses Week 2024 freebies, deals and discounts

Here's a roundup of freebies, deals, discounts and other specials for National Nurses Week.

  • Anthony's Coal Fired Pizza: Nurses get a 20% discount on all orders with a valid ID from Monday, May 6, to Sunday, May 12.
  • BurgerFi: Nurses get a 20% discount on all orders with a valid ID from Monday, May 6, to Sunday, May 12.
  • Buffalo Wild Wings: From Monday, May 6, to May 12, nurses get 20% off their orders with valid IDs on dine-in, call-in, and walk-in orders.
  • Buzz E-Bikes and Huffy Bicycles : Both United Wheels -owned companies give nurses 20% off online purchases year-round when verifying their ID.me at checkout.
  • Create Amor: Through June 7, get 25% off orders for scrubs (use the code NURSE25) and $1 per set (top and bottom) will be donated to the American Nurses Foundation. The scrubs brand will also donate 100% of proceeds from each Iris Five Pocket Top sold directly to the foundation.
  • Dunkin': Nurses can get a free medium hot or iced coffee, no purchase necessary, on Monday, May 6. (The deal excludes Frozen Coffee, Cold Brew and Nitro Cold Brew. Espresso shots, flavors, dairy alternatives & cold foam may be an additional charge.)
  • Firehouse Subs: The sandwich chain has a week of specials available starting Monday through its Firehouse Rewards loyalty program and app including (on Wednesday) BOGO Hook & Ladder Subs and (on Friday) two medium sandwiches for $12 or two large sandwiches for $18.
  • Free Rein Coffee Company: Nurses, first responders and medical providers get 20% off all year long from "Yellowstone" star Cole Hauser's brew brand by verifying with ID.me. Also eligible for the 20% discount: military members.
  • The Good Feet Store : The retailer, with more than 250 locations, will give nurses a complimentary pair of Architek Comfort Slip-Ons and three pairs of OS1st Comfort socks with the purchase of at least a Good Feet Store 3-Step Arch Support System. (Note: if Architeks are not available, a pair of Brooks running shoes will be provided. Valid nurse's ID is required.)
  • The Greene Turtle: All nurses and healthcare workers with a valid ID get a free meal (value of up to $15) on Monday, May 6.
  • Happy Joe’ s Pi zza & Ice Cream: Nurses get a 10% discount at participating locations from Monday to Friday, May 6-10.
  • honeygrow: Nominate a nursing team for $250 worth of catering from the fast-casual chain with 33 locations in the eastern U.S. Submit your nomination on the honeygrow website before Wednesday, May 8. Five winning teams will be announced on May 10 via honeygrow's social media platforms.
  • HTeaO: The iced tea chain will give healthcare personnel 50% off cups of tea from Monday, May 13, to Sunday, May 26, with a valid hospital, doctors office, and school nurse ID.
  • Insomnia C ookies: The Philadelphia-based late-night bakery chain with more than 240 locations is giving nurses a free Classic cookie in-store, no purchase necessary, all week beginning Monday, May 6. (Just show a valid ID; availability varies by location.)
  • KIND Snacks: Nurses get 15% off their purchases on the website all year long. Customers just verify with ID.me at checkout.
  • Landing: The flexible rental firm, with sites especially practical for travel nurses, is giving away prizes including three months' rent. Nurses can enter to win by submitting a 60-second video and others can nominate a nurse, too.
  • Logan's Roadhouse: Nurses get 20% off their entrée this week. Just show your badge.
  • McAlister’s Deli: Nurses can get free tea – either one big Sweet Tea, Unsweet Tea, ½ Sweet & ½ Unsweet Tea, or ½ Lemonade & ½ Sweet/Unsweet Tea (flavor shots excluded) – at McAlister's Deli from Monday, May 6, to Sunday, May 12, with their badge or ID. Offer valid in-store only; no purchase necessary.
  • Moe’s Southwest Grill: Cater a Moe's Southwest Grill meal for nurses from Monday, May 6, to Sunday, May 12, and when you spend $300 or more, get a $50 E-gift card (use code THANKYOU24). Good at participating locations; not valid with other offers or third-party delivery. Doesn't include tax, tip and fees.
  • Pancheros: Nurses can buy one entrée and get one free on Wednesday, May 8, at participating restaurants. (Offer good in-restaurant; just present a valid hospital badge at checkout.)
  • The Parking Spot: The parking company is giving healthcare workers 25% off parking during their trips; just signup with an associated healthcare email account .
  • Peter Piper Pizza : Nurses can get a free personal pizza every day Monday through Friday (May 6-10). Redemption is limited to once per day; valid nurse ID/credentials must be shown.
  • Postino: The restaurant chain, with more than 25 locations in five states , will give nurses its $25 Board and Bottle (bruschetta board, plus a bottle of wine) all day every day during the month of May with badge/ID. (The special is usually only available Monday and Tuesday 8 p.m. to closing.)
  • Potbelly Sandwich Works: Nurses get a free cookie or fountain drink with the purchase of an entrée by showing their ID Monday, May 6, to Sunday, May 12. Also, all customers can get free delivery on a catering order over $150.
  • Salata Salad Kitchen: On Monday, May 6, Healthcare workers get 20% off their order when they present their badge at checkout. Also from Monday to Friday, get 20% off catering orders of $200 or more, and get free delivery on orders through DoorDash.
  • Shipley Do-Nuts: Nurses who belong the chain's Do-Happy loyalty program can get a free half-dozen box of glazed do-nuts with any purchase on Monday, May 6.
  • Skechers: Nurses get a 10% discount on all styles during the month of May on the Skechers website (valid ID or form of employment required). Online shoppers can also round up the purchase price of May purchases to the nearest dollar with proceeds going to the American Nurses Foundation; donate $5 or more and get $10 off your next $100 purchase in June.
  • Smoothie King: Get $2 off your on Monday and Tuesday via Smoothie King’s Healthy Rewards App (use code THANKS2024). The promo code may be used multiple times. Also, Friday, May 3, to Friday, May 10, when you buy $25 or more in gift cards online, get a bonus of 2,000 Healthy Reward points.
  • Sockwell: Nurses get a free pair of socks when they buy three pairs at full price May 6-12 on the Sockwell website (excludes closeouts and 3-packs).
  • Yogurtland: Through May 14, the frozen yogurt chain is offering free delivery on orders of more than $15 made through the website or mobile app (use the code FREEDELIVERY).
  • Zaxby's : Nurses can buy one Boneless Wings Meal and get a second one free on May 7 at participating locations (redeemable through the Zaxby's app or website for Zax Rewardz members, while supplies last).
  • Zips Car Wash:  Nurses can get a $5 "Pro" Wash at any Zips Car Wash or Rocket Express location across the country through May 19 with wash code 3687.

Follow Mike Snider on X and Threads:  @mikesnider  & mikegsnider .

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500+ business plans and financial models

Furniture Store Business Plan PDF Example

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  • May 7, 2024
  • Business Plan

the business plan template for a furniture store

Creating a comprehensive business plan is crucial for launching and running a successful furniture store. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your furniture store’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a furniture store business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the retail industry, this guide, complete with a business plan example, lays the groundwork for turning your furniture store concept into reality. Let’s dive in!

Our furniture store business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the shop’s operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

  • Executive Summary : Offers an overview of your furniture shop’s business concept, market analysis , management, and financial strategy.
  • Store & Location: Describes the shop’s design, layout, and why its location is appealing to potential customers.
  • Products & Pricing: Lists the types of furniture offered by your shop, including pricing structure.
  • Key Stats: Shares industry size , growth trends, and relevant statistics for the furniture market.
  • Key Trends: Highlights recent trends affecting the furniture sector.
  • Key Competitors : Analyzes main competitors in the area and how your shop differs from them.
  • SWOT : Strengths, weaknesses, opportunities, and threats analysis.
  • Marketing Plan : Strategies for attracting and retaining customers.
  • Timeline : Key milestones and objectives from start-up through the first year of operation.
  • Management: Information on who manages the furniture shop and their roles.
  • Financial Plan: Projects the shop’s 5-year financial performance, including revenue, profits, and expected expenses.

the business plan template for a furniture store

Furniture Store Business Plan

footwear retail business plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your furniture store’s business plan, offering a concise overview of your store and its products. It should detail your market positioning, the range of furniture and home decor items you offer, its location, size, and an outline of day-to-day operations.

This section should also explore how your furniture store will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your store’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the store’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your furniture store’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Furniture Store Business Plan exec summary

Dive deeper into Executive Summary

Business Overview

Store & location.

Briefly describe the furniture store’s physical environment, emphasizing its design, layout, and the welcoming atmosphere it offers to customers. Mention the store’s location, highlighting its accessibility and the convenience it offers to shoppers, such as proximity to popular shopping districts or ease of parking. Explain why this location is advantageous in attracting your target clientele.

Supply & Products

Detail the range of furniture and related products offered, from basic home furnishings to specialized items like custom-made pieces, home accessories, or eco-friendly furniture. Outline your pricing strategy , ensuring it reflects the quality of products provided and matches the market you’re targeting. Highlight any promotions, financing options, or loyalty programs that provide added value to your customers, encouraging repeat business and customer loyalty.

Make sure to cover here _ Store & Location _ Supply & Products

footwear retail business plan

Market Overview

Industry size & growth.

In the Market Overview of your furniture store business plan, start by examining the size of the furniture retail industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing consumer interest in personalized furniture solutions, sustainable and eco-friendly products, and innovative design styles. For example, highlight the demand for furniture that caters to specific lifestyle needs and preferences, alongside the rising popularity of environmentally conscious furniture stores.

Key Competitors

Then, consider the competitive landscape, which includes a range of furniture stores from high-end boutiques to budget-friendly options, as well as online furniture sales trends. For example, emphasize what makes your store distinctive, whether it’s through exceptional customer service, a unique range of products, or specialization in certain types of furniture. This section will help articulate the demand for furniture store services, the competitive environment, and how your store is positioned to thrive within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Furniture Store Business Plan market overview

Dive deeper into Key competitors

First, conduct a SWOT analysis for the furniture store , highlighting Strengths (such as quality craftsmanship and a diverse product range), Weaknesses (including high operational costs or intense competition), Opportunities (for example, an increasing trend in home improvement and interior design), and Threats (such as economic downturns that may decrease consumer spending on non-essential items).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, promotional discounts, engaging social media presence, and community involvement. This could include collaborations with interior designers, staging partnerships with real estate companies, or hosting DIY furniture workshops to increase brand visibility and consumer engagement.

Finally, create a detailed timeline that outlines critical milestones for the furniture store’s opening, marketing efforts, customer base growth, and expansion objectives, ensuring the business moves forward with clear direction and purpose. This timeline should include key dates for product launches, seasonal sales campaigns, and potential entry into new markets or online expansion.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Furniture Store Business Plan strategy

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the furniture store’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the furniture store toward its financial and operational goals.

For your furniture store business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Furniture Store Business Plan management

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your furniture store’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your furniture store business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Furniture Store Business Plan financial plan

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  1. Shoe Store Business Plan Template (2024)

    1. Develop A Shoe Store Business Plan - The first step in starting a business is to create a detailed shoe store business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2.

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    Your operations plan should have two distinct sections as follows. Everyday short-term processes include all of the tasks involved in running your shoe store business, including taking inventory, ordering new products, customer interaction, cleaning the store, etc. Long-term goals are the milestones you hope to achieve.

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    When writing the strategy section of a business plan for your footwear store, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants. The competitive edge subsection should explain what sets your company apart from its competitors.

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    Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan. Here are a few key components to include in your ...

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    A good business plan for a shoe store must be tailored to the nuances of the footwear retail industry. To start, it's crucial to provide a comprehensive market overview. This should include up-to-date statistics and an analysis of emerging trends in the shoe retail market, as illustrated in our shoe store business plan template. Your business ...

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    A business plan will help you raise funding, if needed, and plan out the plant of your shoe store to improve your chances of success. Our shoe retail employment plan is a living document that should are updated annually as your company increasing and changes.

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    Women's Shoe Store Business Plan. Passion Soles is an upscale shoe store, offering an unmatched and extensive selection of women's shoes. Selling shoes can be a lucrative business. In recent years, the shoe market has emerged as a unique and specialized retail industry built on style, scarcity, and presentation. If you have a knack for tracking ...

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    The shoe price point is $60-$300. Saks: this department store caters to the high class, older crowd. Shoes range from $75-$400. The buying habits for fashion-conscious women consist of typically buying at least one pair of shoes per month. Women generally purchase a pair of shoes to go with a specific dress.

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    It even analyzes prevailing market trends to inform your business strategy, making it an essential element of your business plan. Download this business plan template . Template 4: Customer Analysis. In this PPT Set, you explore the heart of your business - your customers.

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  18. How to Start a Shoe Store

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  21. Online Shoe Store Business Plan [Sample Template]

    Below is the sales projection for Louis & Louisa Shoe Store®, Inc. it is based on the location of our business and other factors as it relates to shoe retail stores start - ups in the United States; First Fiscal Year-: $250,000. Second Fiscal Year-: $450,000. Third Fiscal Year-: $750,000.

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  30. Furniture Store Business Plan PDF Example

    Whether you're an experienced entrepreneur or new to the retail industry, this guide, complete with a business plan example, lays the groundwork for turning your furniture store concept into reality. Let's dive in! The Plan. Our furniture store business plan is structured to cover all essential aspects needed for a comprehensive strategy.