business plan for shoes shop

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.

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

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.

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

Fill-in-the-blanks and automatic financials make it easy.

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

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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Here is a free business plan sample for a shoe store.

Have you been toying with the idea of opening a shoe store but feel overwhelmed by the thought of planning it out? You've landed in the perfect spot.

In the content that follows, we're excited to present to you a comprehensive sample business plan tailored for a shoe store.

As an aspiring entrepreneur, you're likely aware that a robust business plan is a cornerstone of any successful venture. It serves as a roadmap, guiding you through setting your objectives, carving out your niche, and developing a strategy to stand out in the competitive market.

To jumpstart your journey, you can utilize our shoe store business plan template. Our team of professionals is also on standby to provide a free review and fine-tuning of your plan.

How to draft a great business plan for your shoe store?

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 plan should articulate your vision clearly. Define your target market (such as fashion-conscious individuals, athletes, professionals), and establish your store's unique selling proposition (USP) – whether it's high-end designer shoes, sports footwear, eco-friendly materials, or a wide range of sizes and styles.

Market analysis is the next critical component. This requires a thorough examination of local competitors, industry trends, and consumer buying habits.

For a shoe store, it's important to detail the variety of products you intend to sell. Outline your inventory – including casual shoes, formal footwear, athletic shoes, and accessories – and describe how these products cater to the preferences and needs of your intended customer base.

The operational plan is vital. It should cover the location of your shoe store, the layout of the retail space, supplier relationships, and inventory management.

Emphasize the importance of quality, brand partnerships, and customer service excellence in your shoe store.

Then, delve into your marketing and sales strategies. How do you plan to attract and keep customers coming back? Discuss promotional tactics, customer loyalty programs, and potential cross-selling opportunities (like shoe care products or accessories).

Incorporating digital strategies, such as an e-commerce platform, social media engagement, and online marketing, is increasingly important for retail businesses.

The financial section is another cornerstone. It should outline your startup costs, sales projections, operating expenses, and the point at which you expect to break even.

Since inventory management can be a complex aspect of a shoe store, with a variety of sizes and styles, it's critical to have a precise financial plan. For assistance, consider using our financial forecast for a shoe store .

Compared to other business plans, a shoe store's plan must pay special attention to inventory turnover, seasonal buying patterns, and the potential for online sales expansion.

A comprehensive business plan will not only help you clarify your strategy and vision but also attract investors or secure loans.

Investors and lenders are looking for a solid market analysis, realistic financial projections, and a clear operational strategy for managing a retail shoe store.

By presenting a detailed and substantiated plan, you show your commitment to the success of your venture and your credibility as a business owner.

To achieve these goals while saving time, you can fill out our shoe store business plan template .

A free example of business plan for a shoe store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a shoe store .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The footwear industry is a robust and dynamic market with significant growth potential.

As of recent estimates, the global footwear market size is valued at over 300 billion dollars, with projections indicating a steady increase in the coming years, driven by consumer demand for new and innovative shoe designs.

In the United States alone, there are over 30,000 shoe stores, contributing to an annual revenue of approximately 34 billion dollars for the footwear retail sector.

These statistics underscore the integral role shoe stores play in the American retail landscape and their substantial economic contribution.

The shoe industry is witnessing several key trends that are shaping consumer purchasing behaviors.

Athleisure and comfort-driven footwear continue to dominate the market, with an emphasis on sneakers and casual shoes that blend style with functionality. The rise of sustainable and ethical fashion is also influencing the industry, as consumers increasingly seek out eco-friendly materials and transparent supply chains.

Technological advancements are leading to the creation of smart footwear equipped with sensors and connectivity features, catering to the health and fitness-conscious demographic.

E-commerce growth is transforming the retail experience, with online shoe sales becoming more prevalent and offering customers convenience and a wider selection.

Customization and personalization services are gaining traction, allowing customers to design their own shoes or select from a variety of colors and materials to suit their individual tastes.

These trends highlight the evolving nature of the footwear industry and the need for retailers to adapt to the preferences of 21st-century consumers.

Success Factors

Several factors contribute to the success of a shoe store.

Foremost, the quality and variety of footwear are critical. A store that offers durable, comfortable, and stylish shoes is more likely to build a dedicated customer base.

Innovation in shoe design and the ability to offer exclusive or limited-edition models can set a retailer apart in a crowded market.

The store's location plays a vital role in attracting foot traffic and influencing sales, with high-visibility and easily accessible stores performing better.

Exceptional customer service, including knowledgeable staff and personalized attention, is essential for customer satisfaction and repeat business.

Lastly, efficient inventory management, competitive pricing, and the ability to keep pace with industry trends, such as the shift towards sustainable practices, are crucial for the long-term prosperity of a shoe store.

The Project

Project presentation.

Our shoe store project is designed to cater to the diverse footwear needs of a fashion-conscious community. Strategically located in a high-traffic shopping district, this store will offer a curated selection of quality shoes ranging from casual sneakers and comfortable sandals to formal dress shoes and athletic footwear. Each pair will be chosen for its style, comfort, and durability, ensuring that customers have access to the latest trends without compromising on quality.

We aim to provide a personalized shopping experience, with knowledgeable staff ready to assist in finding the perfect fit and style for every individual.

Our shoe store will not only be a retail space but also a hub for shoe enthusiasts and fashion-forward individuals, setting the pace in footwear trends within the local market.

Value Proposition

The value proposition of our shoe store is centered on offering a wide variety of high-quality, fashionable footwear that caters to the tastes and needs of our customers. We understand the importance of finding the perfect pair of shoes that combines style, comfort, and functionality.

Our commitment to providing exceptional customer service and a personalized shopping experience sets us apart, ensuring that each visit is enjoyable and successful. We aim to build a loyal customer base by consistently introducing new styles and maintaining a selection that resonates with the latest fashion trends.

By creating a welcoming and inclusive atmosphere, we strive to be the go-to destination for footwear, encouraging our customers to express their personal style through their shoe choices.

Project Owner

The project owner is a seasoned entrepreneur with a passion for fashion and a keen eye for emerging footwear trends. With years of experience in retail management and a strong background in customer service, they are well-equipped to launch a successful shoe store.

They possess a deep understanding of the retail shoe market and are dedicated to creating a store that stands out for its selection, quality, and customer-focused approach. Their expertise in trend analysis and commitment to customer satisfaction are the cornerstones of this project.

Driven by a love for fashion and a desire to meet the footwear needs of the community, the project owner is committed to establishing a shoe store that will become a beloved shopping destination and a staple in the local retail landscape.

The Market Study

Market segments.

The market segments for this specialized shoe store are divided into several categories.

First, there are fashion-forward individuals who are always on the lookout for the latest trends in footwear.

Next, there are professional customers who require comfortable, stylish shoes suitable for the workplace.

The market also includes athletes and fitness enthusiasts seeking performance-oriented footwear for various sports and activities.

Finally, niche segments such as vegan or eco-conscious consumers who look for shoes made with sustainable materials and ethical production practices.

SWOT Analysis

A SWOT analysis of this shoe store project reveals several aspects.

Strengths include a diverse range of shoe styles, a keen understanding of fashion trends, and a strategic location in a high-traffic shopping area.

Weaknesses could include the initial costs of inventory and the challenge of building a customer base in a competitive market.

Opportunities lie in the growing interest in sustainable fashion, the potential for online sales expansion, and the ability to cater to a wide range of customer preferences.

Finally, threats could include the rapidly changing fashion trends, economic downturns affecting consumer spending, and the rise of e-commerce giants.

Competitor Analysis

Competitor analysis in the shoe retail sector reveals a mix of competition.

Among direct competitors are other specialized shoe stores, department stores with shoe departments, and online retailers.

These players compete on factors such as price, brand selection, customer service, and shopping experience.

Potential competitive advantages include a curated selection of unique shoe styles, personalized customer service, and a strong online presence.

Understanding competitors' strengths and weaknesses is crucial for carving out a niche in the market and for customer loyalty.

Competitive Advantages

Our shoe store's competitive advantages lie in our carefully selected inventory that caters to both fashion trends and classic styles.

We offer a range of shoes from well-known brands to up-and-coming designers, ensuring quality and exclusivity.

Our commitment to customer satisfaction is evident through our personalized fitting services, knowledgeable staff, and a loyalty program that rewards repeat customers.

We also emphasize our dedication to sustainability by offering a selection of eco-friendly and ethically produced footwear, which resonates with our environmentally conscious customers.

You can also read our articles about: - the customer segments of a shoe store - the competition study for a shoe store

The Strategy

Development plan.

Our three-year development plan for the specialty shoe store is designed to be dynamic and responsive to market trends.

In the first year, our goal is to establish a strong local presence and build a loyal customer base by offering a unique selection of high-quality shoes and personalized customer service.

The second year will focus on expanding our reach by opening additional locations in high-traffic shopping areas and enhancing our online storefront.

By the third year, we aim to diversify our product lines to include exclusive shoe accessories and limited-edition collaborations with designers, while also considering the introduction of eco-friendly and sustainable shoe options.

Throughout this period, we will prioritize customer satisfaction, innovative retail experiences, and staying ahead of fashion trends to secure our place in the competitive shoe market.

Business Model Canvas

The Business Model Canvas for our shoe store targets a diverse range of customers, from fashion-forward individuals to those seeking comfort and durability in footwear.

Our value proposition revolves around providing a curated selection of shoes that cater to various styles, occasions, and functional needs, complemented by exceptional customer service.

We will sell our products through our brick-and-mortar store, enhanced by a robust e-commerce platform, utilizing key resources such as our knowledgeable sales team and strategic supplier relationships.

Key activities include inventory management, customer engagement, and trend analysis.

Our revenue streams will be generated from direct shoe sales, with costs associated with inventory procurement, store operations, and marketing initiatives.

Access a detailed and customizable Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on creating a strong brand identity and engaging with our target audience.

We plan to showcase the latest shoe trends and the quality of our products through fashion shows, pop-up events, and strategic partnerships with local influencers and stylists.

Online marketing efforts will include search engine optimization (SEO) for our website, targeted social media advertising, and email campaigns to keep customers informed about new arrivals and promotions.

We will also offer loyalty programs and personalized shopping experiences to encourage repeat business and word-of-mouth referrals.

Risk Policy

Our risk policy for the shoe store includes measures to mitigate risks associated with inventory management, supplier reliability, and market fluctuations.

We will implement a just-in-time inventory system to reduce overstock and maintain product freshness. We will also establish strong relationships with multiple suppliers to ensure a steady supply of quality products.

Regular market analysis will help us adapt to changing fashion trends and consumer preferences. Additionally, we will manage financial risks through careful budgeting and cost control.

Comprehensive insurance coverage will protect against potential liabilities, including property damage and customer claims. Our focus is on delivering a safe and satisfying shopping experience while managing the operational risks inherent in the retail industry.

Why Our Project is Viable

We are confident in the viability of our specialty shoe store due to the evergreen demand for quality footwear and our commitment to staying abreast of fashion trends.

With a strategic approach to customer engagement, product selection, and market positioning, we believe we can carve out a significant niche in the shoe retail sector.

We are enthusiastic about the opportunity to provide customers with footwear that not only looks great but also offers comfort and durability.

Open to evolving with the market, we are poised for success and excited about the future of our shoe store.

You can also read our articles about: - the Business Model Canvas of a shoe store - the marketing strategy for a shoe store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a shoe store and our financial plan for a shoe store .

Initial expenses for our shoe store include the cost of leasing a retail space in a high-traffic area, interior design and store fixtures to create an appealing shopping environment, purchasing a diverse inventory of shoes catering to various styles and sizes, investing in a point-of-sale system, and employee training to ensure excellent customer service. Additionally, we will allocate funds for brand development and marketing strategies to build a strong customer base.

Our revenue assumptions are based on a thorough market analysis of the local demand for footwear, taking into account factors such as fashion trends, seasonal changes, and the purchasing power of our target demographic.

We expect a steady growth in sales, beginning with a conservative estimate and increasing as our shoe store gains recognition and customer loyalty within the community.

The projected income statement outlines expected revenues from shoe sales, cost of goods sold (including inventory procurement and logistics), and operating expenses (rent, marketing, employee wages, etc.).

This leads to a forecasted net profit that is essential for assessing the long-term viability of our shoe store.

The projected balance sheet will display assets unique to our business, such as initial shoe inventory, store fixtures, and cash reserves, while also listing liabilities like loans and accounts payable.

It will provide a snapshot of the financial standing of our shoe store at the end of each fiscal period.

Our projected cash flow statement will detail the inflows and outflows of cash, enabling us to predict our financial requirements. This is crucial for maintaining a healthy cash balance to support day-to-day operations and strategic investments.

The projected financing plan will identify the sources of funding we intend to tap into to cover our startup costs, such as bank loans, investor capital, or personal savings.

We will keep a close eye on the working capital requirement for our shoe store to ensure we have sufficient funds to manage inventory levels, handle customer transactions, and meet regular expenses like rent and payroll.

The break-even analysis for our shoe store will calculate the volume of sales needed to offset all costs, including initial investments, and begin generating a profit.

This will help us understand when our business is expected to become financially sustainable.

Key performance indicators we will monitor include the inventory turnover rate to measure how quickly our stock is sold, the gross margin to evaluate profitability on shoe sales, and customer satisfaction scores to gauge service quality and repeat business potential.

These metrics will be instrumental in assessing the financial health and success of our shoe store.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a shoe store .

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How to 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.

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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.

Other Helpful Business Plan Articles & Templates

How to Start a Shoe Store

While a shoe store can exist alongside a main department store, most are independent. Shoes stores sell shoes, sandals, boots, and similar products. They can also sell shoe cleaners, socks, laces, and other accessories. Shoe stores operate with set prices, giving customers a great selection of products at affordable prices.

Learn how to start your own Shoe Store and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start a shoe store by following these 10 steps:

• Plan your Shoe Store
• Form your Shoe Store into a Legal Entity
• Register your Shoe Store for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Shoe Store
• Get the Necessary Permits & Licenses for your Shoe Store
• Get Shoe Store Insurance
• Define your Shoe Store Brand
• Create your Shoe Store Website
• Set up your Business Phone System

We have put together this simple guide to starting your shoe store. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Shoe Store Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your shoe store?

Business name generator, what are the costs involved in opening a shoe store.

A shoe store’s startup costs can be hefty. Expect to pay about $10,000 in initial franchising fees. Grand opening marketing can cost about $5,000, and initial inventory can cost as much as $50,000 for a smaller shop.

A lot of these expenses are high because shoes can cost a lot of money. You should plan to have about $2,500 on hand for insurance startup costs. On the high end, a shoe store’s overall costs can reach $200,000 when utility deposits, professional fees, computer systems, and business licenses are considered.

What are the ongoing expenses for a shoe store?

Expect to pay about $2,000 per month for rent. Monthly utilities will be about $300. As a shoe store owner, you’ll need to pay your employees between $8 and $20 per hour, depending on their position. If you’ve hired an IT team, expect to pay as much as $30 per hour for skilled labor. Additional costs include marketing fees, which cost about one percent of your yearly net sales and consistent inventory costs—which can be as much as $75,000 per year.

Who is the target market?

The best customers are return shoppers. Because shoes aren’t purchased often, every impression counts. Shoe store shoppers may come and go, but those with a love of boots, athletic shoes, or shoe care products can be very profitable.

It’s a good idea to extend discount services to other stores. Often, shoe stores will use “pull marketing” tactics, gaining return customers from other clothing stores.

How does a shoe store make money?

Shoe stores make money by selling shoes, shoe accessories, shoe care products, and other items. Some shoe stores may offer shoe cleaning services, though such services are pretty rare.

Customers can be charged as little as $10 for a pair of nice laces to $400 for a pair of nice boots. Average shoes cost about $70, though prices vary greatly.

How much profit can a shoe store make?

An average shoe store makes about $851,076 in sales, yielding a profit of about $127,363 for the owner. Shoe stores offer a big return on investment, sitting at about 46.1 percent. As a shoe store owner, you’ll need to manage your stock and pricing to ensure high profits.

How can you make your business more profitable?

It pays off to diversify or specialize. When starting a shoe store business, research popular brands. Once you’ve achieved some popularity, make sure your customers go to you for preferred shoes. You can specialize in selling boots, for example, or athletic shoes.

You should also start an online store. E-commerce is incredibly effective, and the most successful shoe stores have online buying portals. Prioritize customer service, and make shipping affordable. You can greatly increase your profits by expanding into a digital market. If you’re really good at e-commerce, you can even make an entirely online store.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your shoe store is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate a shoe store. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Certificate of Occupancy

A shoe store is generally run out of a warehouse or factory. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO).  A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location :
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a clothing line business.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
• If you plan to purchase or build a location :
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your store will be in compliance and able to obtain a CO.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Shoe Store needs and how much it will cost you by reading our guide Business Insurance for Shoe Store.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a shoe store

Market online. Facebook, Twitter, and Instagram are the best realms for clothing and shoe sellers. Offer discounts, and attract new customers via an e-commerce platform. If you’re operating out of a shopping strip, make sure local fashion sellers are aware of your location. Network with them, and exchange customers when possible.

How to keep customers coming back

Customers, by and large, will be attracted by your products. Your store’s reputation will grow if it offers well-priced, reliable shoes. To retain customers, you’ll need to incentivize return visits. Shoe shopping is a rare occurrence, so you’ll need to be independent of your competition.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

The shoe business is great for anyone who loves fashion. Retail experience helps, as does an appreciation for shoes and apparel. Those who like accessories, like purses and jewelry, may find the shoe business to be exciting as well.

A successful shoe store operator will need to be good with pricing, marketing, and management. They should also have a good eye for designer and discount shoes. By focusing on a niche, like athletic apparel, a shoe store owner can have a lot of success.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a shoe store?

A shoe store owner stocks, promotes, and sells shoes. As a retail operator, a shoe store owner needs to prep stock, clean the store, manage employees, and market his or her products. Typically, a shoe store owner helps customers find their preferred products. A lot of shoe store employees are skilled in figuring out a customer’s size, too.

From the administrative end of things, a shoe store owner will conduct transactions, work on marketing campaigns, manage expenses, and try to boost the store’s profits as much as possible. A lot of shoe stores extend into the world of e-commerce, so having Internet expertise is certainly beneficial.

What are some skills and experiences that will help you build a successful shoe store?

Successful shoe store owners have a keen eye for marketing. They’re also good at acquiring wholesale shoes at competitive prices. The business values of paying bills on time, following by a shoe brand’s rules and following industry regulations counts. From all angles, shoe selling can be a complex job to undertake.

What is the growth potential for a shoe store?

Shoe stores have a lot of growth potential, as local providers. Because the market for high-fashion shoes is open, a shoe store can even become a multi-national provider if they offer rare, interesting, or incredibly reliable shoes.

At some point, however, shoe store owners will need to differentiate themselves from the competition. It’ll pay off to either specialize in a particular type of shoe or to offer an incredibly diverse stock.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a shoe store?

Start by being an independent seller. Working with other brands can be difficult for beginning shoe stores. If possible, enter into the e-commerce market. Your store’s reputation will grow, too, if it isn’t in an oversaturated area. If you face a lot of Big Box competition, enter the boutique market and offer special, high-price shoe selections.

How and when to build a team

Build a team immediately. Starting shoe stores should be operated by at least two to three employees. By having a team—even a small one—you can make sure your store’s operations are handled with care. Shoe stores with long histories often thrive, but they thrive upon having incredibly capable employees. When managing a shop, make sure you’re focusing on customer engagement. Shoe shopping can be a long, drawn-out process, so employees should work to fulfill the buyer’s journey while ensuring as many sales as possible.

Useful Links

Industry opportunities.

• Red Wing Shoe Store Franchise Opportunity
• Franchise Opportunity With The Athlete’s Foot

Real World Examples

• Atlanta Business Cool Shoes
• DSW Successful Chain
• New York & Massachusetts Concepts

Further Reading

• Sell Your Sole: Here's How to Open a Sneaker Store
• How to Start an Online Shoe Store Business

Have a Question? Leave a Comment!

We earn commissions if you shop through the links below.  Read more

Back to All Business Ideas

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 14, 2024

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

• 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

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

• 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?

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.

Related Business Ideas

How to Start a Sock Business

How to Start a Sunglasses Line

How to Start a Skate Shop

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. 

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 and type of shoes

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.

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

Powered by GoDaddy.com

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:

• 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:

• 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

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.

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:

• 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:

• 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. 

Here are some powerful marketing strategies for your future 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.
• Local SEO  — Regularly update your Google My Business and Yelp profiles to strengthen your local search presence.
• 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 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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Top 10 Shoe Business Plan Templates with Examples and Samples (Editable Word Doc, Excel, and PDF Included)

Mohammed Sameer

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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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Shoe Business Plan Template & Guidebook

Starting a shoe business can seem like an intimidating task, but with the right knowledge and resources, it can become a rewarding venture. The #1 Shoe Business Plan Template & Guidebook provides aspiring entrepreneurs with a comprehensive guide to establishing and growing a successful shoe business. With detailed instructions, helpful examples, and expert advice, this template & guidebook makes the shoe business planning process easy to understand and achievable.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Shoe Business [11 Steps]
• 10+ Best & Profitable Shoe Business Ideas [2023]
• 25 Catchy Shoe Business Names:
• List of the Best Marketing Ideas For Your Shoe Business:

How to Write a Shoe Business Plan in 7 Steps:

1. describe the purpose of your shoe business..

The first step to writing your business plan is to describe the purpose of your shoe business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a shoe business:

Our purpose at [insert shoe business name here] is to provide customers with quality and fashionable shoes that meet their individual needs, while fostering a welcoming and inclusive environment for everyone.

2. Products & Services Offered by Your Shoe Business.

The next step is to outline your products and services for your shoe business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your shoe business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your shoe business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your shoe business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a shoe business?

• Business License
• Point of Sale System/Cash Register
• Receipts/Invoices Printing System
• Store Shelves and Menus
• Inventory Management Software
• Barcode Scanner
• Security Systems (Cameras, Alarms, etc.)
• Computer and Network Infrastructure
• Financial Accounting Software

5. Management & Organization of Your Shoe Business.

The second part of your shoe business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your shoe business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Shoe Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a shoe business varies based on many different variables, but below are a few different types of startup costs for a shoe business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your shoe business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your shoe business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your shoe business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Shoe Business Plans:

Why do you need a business plan for a shoe business.

A business plan for a shoe business is important in order to define and understand the goals of the business, its target market, the types of shoes offered, the costs involved, and any potential risks. It also outlines strategies to make the business successful, making it a valuable resource to have when launching a shoe business.

Who should you ask for help with your shoe business plan?

You should ask for help from an experienced entrepreneur or a small business advisor. Additionally, it may be beneficial to speak with local business owners in the shoe industry to get insights into the industry and advice on how to run a successful shoe business.

Can you write a shoe business plan yourself?

Yes, you can write a shoe business plan yourself. To get started, you will need to do some research on the shoe industry and make sure you understand the basics of business planning. Additionally, consider what customer needs you are wanting to fill with your shoe business, make sure that your plan outlines a clear strategy for marketing and sales, and develop a robust financial plan for your business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Sales & Marketing Plan for a Shoe Store (Example)

• May 16, 2024
• Business Plan , Sales & Marketing Strategy

Launching and managing a successful shoe store demands more than just offering a range of footwear; it requires a deliberate and strategic approach to marketing and sales. This comprehensive guide will help you construct a sales and marketing plan for your shoe store’s business plan.

We’ll start with a thorough market analysis to understand competitors’ and potential customers’ needs. Then, we’ll focus on establishing your store’s brand identity and strategic positioning. Lastly, we’ll explore diverse marketing channels and sales strategies to boost revenue and customer connections.

Shoe Store Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

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

Market Analysis

Understanding the market is pivotal to positioning your shoe store effectively within the competitive landscape.

Competitive Analysis

• Identify Key Competitors : Beyond merely recognizing rival shoe stores, delve into their unique selling propositions, the range of brands they carry, their pricing strategies , customer service offerings, and overall market positioning. This in-depth analysis will assist in identifying areas where your store can excel and carve a distinct niche.
• SWOT Analysis : Conducting a SWOT analysis helps in identifying your store’s strengths, such as a particular shoe category you specialize in or exceptional customer service. Simultaneously, it pinpoints weaknesses, like inventory management challenges or a need for enhanced branding. Identifying opportunities could involve market trends or untapped customer segments, while threats might encompass intense competition or economic fluctuations.

Target Audience Profiling

• Demographic and Psychographic Details: Beyond standard demographic details like age, gender, and income, delve into psychographic aspects. Understand your customers’ lifestyles, fashion inclinations, hobbies, and aspirations. This understanding will shape your marketing campaigns and inventory selections. For instance, if your target demographic leans towards eco-conscious consumers, emphasizing sustainable footwear options could be a strategic move.
• Customer Needs and Expectations: Conduct surveys, gather feedback, and engage in dialogue with potential and existing customers to comprehend their shoe shopping priorities. Whether it’s about seeking comfort, aligning with the latest fashion trends, or supporting ethical brands, understanding these needs will aid in tailoring your product offerings and marketing messages.

Branding and Positioning

Establishing a compelling brand and positioning strategy is key to resonating with your audience.

Brand Identity Development

• Crafting a Unique Brand Story: Share your store’s narrative. What inspired its inception? Was it a passion for footwear, a desire to fill a market gap, or a commitment to a particular cause? The story should resonate with customers, forging an emotional connection beyond just selling shoes.
• Visual Identity: Ensure consistency in brand elements across all touchpoints. This includes logo design, color schemes, interior decor, and packaging. A cohesive visual identity creates a memorable brand image and reinforces your store’s personality in the minds of consumers.

Market Positioning Strategy

• Define Your Unique Selling Proposition (USP): This encapsulates what sets your shoe store apart. It might be specializing in hard-to-find sizes, offering a wide range of vegan or sustainable footwear, providing exceptional personalized service, or a mix of various elements that create a distinctive shopping experience.
• Positioning Statement: Create a clear and concise statement that encapsulates your store’s essence and how you want it to be perceived. It should resonate with your target audience and guide all your marketing strategies and operational decisions.

Marketing Channels

Leveraging diverse marketing channels is crucial for building brand awareness and driving foot traffic to your shoe store.

Digital Marketing

Utilize online platforms effectively:

• Social Media: Leverage social media platforms to showcase your shoe collection creatively. Engage customers with interactive content, behind-the-scenes glimpses, and influencer collaborations. Utilize platforms like Facebook and Instagram ads to reach a broader audience with targeted campaigns.
• Email Marketing: Build an email list by offering incentives or newsletters featuring style guides, exclusive offers, and updates on new arrivals.
• Website and SEO: Ensure a user-friendly website with intuitive navigation, high-quality visuals, and a seamless checkout process. Invest in Search Engine Optimization (SEO) to rank higher in search engine results for relevant shoe-related keywords, enhancing online visibility.

Local Advertising

Connect with the local community:

• Flyers and Local Print: Distribute well-designed flyers in strategic locations, advertise in local magazines, and collaborate with local influencers to reach a wider audience.
• Community Engagement: Participate in community events, sponsor local sports teams, or organize shoe drives for charity to foster community relations.
• Partnerships: Collaborate with complementary businesses like clothing boutiques or wellness centers for joint promotions or co-marketing initiatives.

Promotional Activities

Engage customers with enticing offers:

• Special Deals: Introduce seasonal promotions like ‘Back-to-School Shoe Sale’ or ‘Holiday Footwear Discounts’ to attract customers. Offer first-time visitors discounts to encourage trial purchases.
• Loyalty Programs: Implement loyalty cards or digital programs where customers earn points for purchases, redeemable for discounts or exclusive merchandise.
• Referral Incentives: Provide incentives for customers who refer friends or family to your store, such as discounts or exclusive access to limited editions.

Sales Channels

Maximizing revenue through various sales strategies is essential for sustainable growth.

In-Store Upselling

Maximize sales during customer visits:

• Accessorize and Bundles: Suggest complementary products like socks, insoles, or shoe care kits at the point of sale. Offer bundled discounts for multiple purchases.
• Personalized Recommendations: Train staff to provide personalized recommendations based on customer preferences, enhancing the shopping experience.

Online Sales and Services

Leverage digital tools for streamlined sales:

• E-Commerce Integration: Implement an intuitive online store for seamless purchasing. Offer online-exclusive discounts or promotions.
• Virtual Try-On or Fitting Tools: Provide virtual fitting options to enhance the online shopping experience, reducing returns and improving customer satisfaction.

Membership and Loyalty Programs

Encourage repeat purchases:

• Membership Benefits: Offer subscription-based programs providing early access to sales, exclusive collections, or free shipping.
• Tiered Loyalty Rewards: Develop a loyalty program with tiered benefits based on customer spending, rewarding top-tier members with VIP services or personalized discounts.

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Online Shoe Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Fashion & Style

Are you about starting an online shoe store ? If YES, here is a complete sample retail shoe store business plan template & feasibility report you can use for FREE .

The major things you need to have in place to make success from this type of business is a good location, easy access to wholesale supply of quality shoes and good customer service skill. The truth is that if you shop is located in an area with good human and vehicular traffic, and you have quality shoes (for male and female, adult and children) from different brands, you may not have to struggle to get people to visit your shop and make purchase.

So if you have decided to open a shoe retail store, then you should ensure that you carry out feasibility studies and also market survey.

A Sample Online Shoe Store Business Plan Template

1. industry overview.

As the name of the business implies, shoes retailing stores basically retail footwear. Shoes stores primarily purchase footwear from wholesalers and retail them directly to end users – customers. The Shoe Stores industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products.

Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing. Going forward, as the economy of the united states continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to thrive.

The Shoe Retail Stores industry is indeed a major sector of the economy of the United States of America and they generates a whopping sum of well over $35 billion annually from more than 11,157 shoes retail outlets scattered all around the United States of America.

The industry is responsible for the employment of well over 213,931 people. Experts project that the industry will grow at a 2.4 percent annual rate.

The establishment in this industry that has dominant market shares in the United States of America are; Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company and Payless Shoes. In combination, they account for roughly 31.7 percent of the revenue generated in the industry.

It is a fact that an estimated two-thirds of the United States’ gross domestic product (GDP) comes from the general retail industry of which the shoes retail stores industry contributes greatly.  This is why the United States of America’s economy is measured with the yardstick of how well the retailing business is fairing in the U.S

In essence, when there is an unstable economy, purchasing power drops and it impacts the retailing / shoes retailing stores industry negatively which may result in the closure of some furniture retail stores.

Over and above, the shoes retail store industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner or you can choose to start on a large scale with several outlets in key cities through the United States of America and Canada.

2. Executive Summary

Louis & Louisa Shoe Store®, Inc. is a standard and registered shoe retail store business that will be located in one of the busiest streets in Charleston – West Virginia.

We have been able to lease a facility that is big enough (a 5 thousand square foot facility) to fit into the design of the kind of standard shoe retail store that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Charleston – West Virginia.

Louis & Louisa Shoe Store®, Inc. will retail men’s shoes, women’s shoes, men’s athletic shoes, women’s athletic shoes, children’s shoes, slippers and other types of shoes such as Hosiery and sports footwear, golf shoes, bowling shoes and cleats et al from different manufacturers (brands) from the United States and abroad. We are set to services a wide range of clientele in and around Charleston – West Virginia.

We are aware that there are several large and small chains of shoe retail store outlets all around Charleston – West Virginia, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with various payments of options. Louis & Louisa Shoe Store®, Inc. will ensure that all our customers are given first class treatment whenever they visit our shoe retail store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved in the selection of brands that will be on our shoe racks and also when making some business decisions.

Louis & Louisa Shoe Store®, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Louis & Louisa Shoe Store®, Inc. is a family business that is owned by Louis Anderson and his twin sister and business partner Louisa Anderson. Louis Anderson has a B.Sc. in Business Administration, with well over 5 years of experience in the shoe retailing stores industry, working for some of the leading brand in the United States.

Although the business is launching out with just one outlet in Charleston – West Virginia, but there is a plan to open other outlets all around major cities in the United States and Canada.

3. Our Products and Services

Louis & Louisa Shoe Store®, Inc. is in the shoe retail stores industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide range of shoes from top manufacturing brands in the United States and other countries of the world.

We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;

• Retailing children’s shoes
• Retailing athletic shoes (including sport-specific shoes like cleats and bowling shoes)
• Retailing men’s casual and formal shoes
• Retailing women’s casual and formal shoes
• Retailing slippers and other shoes

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the shoe retail stores industry in West Virginia and to establish a one stop shoe retail store in Charleston – West Virginia and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class shoe retail store business that will make available a wide range of shoes from top shoe manufacturing brands at affordable prices to the residence of Charleston – West Virginia and other key cities in the United States of America and Canada where we intend opening of chains of shoe retail stores and franchise.

Our Business Structure

Louis & Louisa Shoe Store®, Inc. do not intend to start a shoe retail store business like the usual mom and pop business around the street corner; our intention of starting a shoe retail store business is to build a standard and one stop shoe retail store outlet in Charleston – West Virginia.

Although our shoe retail store business might not be as big as Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company and Payless Shoes et al, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders ( the owners, workforce, and customers ).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of shoes are kept and warehouse does not run out of products
• Ensure that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls shoes distribution and supply inventory
• Supervises the workforce in the shoe sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of shoes from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manage the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding the store and the merchandise)
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• make suggestions and encourage purchase of products
• Provides information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
• Bags or packages purchases and gift wrap merchandise
• Responsible for cleaning all the shoes and the store facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store facility
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention of starting just one outlet of our shoe retail store in Charleston – West Virginia is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in West Virginia and key cities in the United States and Canada.

We are quite aware that there are several shoe retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Louis & Louisa Shoe Store®, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Louis & Louisa Shoe Store®, Inc.;

Our location, the business model we will be operating on both (physical store and online store), varieties of payment options, wide range of footwear and our excellent customer service culture will definitely count as a strong strength for Louis & Louisa Shoe Store®, Inc. So also our team of highly qualify staff members is also a plus for us.

A major weakness that may count against us is the fact that we are a new shoe retail store outlet in Charleston – West Virginia and we don’t have the financial capacity to compete with multi – million dollars shoe retail store outlets like Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co when it comes to retailing at a rock bottom prices for all their shoes.

• Opportunities:

The fact that we are going to be operating our shoe retail store in one of the busiest streets in Charleston – West Virginia provides us with unlimited opportunities to sell our shoes to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our shoe store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new shoe retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the Shoe Stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, and ever changing trends are major growth drivers for sales in this industry.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the Shoe Stores industry.

So also, the rising demand for trendy footwear, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as shoe stores keep prices low to attract more sales amid growing competition.

A close watch on the industry activities reveals that, concentration has increased slightly over the past five years, as merger and acquisition activity has become more prominent. Additionally, companies that have enough funds to invest in multi-channel operations have benefitted more than smaller operators with minimal resources.

This trend has been illustrated by statements made by Design Shoe Warehouse – DSW’s CEO Mike MacDonald on several occasions. As part of marketing strategies, shoe retail stores engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

Lastly, in recent time, the shoe retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical shoe retail store is located.

8. Our Target Market

Possibly it will be safe to submit that the shoe retail stores industry has the widest range of customers; almost everybody on planet earth need one form of footwear or the other especially if they can afford it. For instance, it will be difficult to find any sane man or woman on the street of Charleston – West Virginia without shoe.

In view of that, we have positioned our shoe retail store to service the residence of Charleston – West Virginia and every other location where franchise cum outlets of our shoe retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of shoes to the following groups of people and corporate organizations;

• Men and women
• Bachelors and Spinsters
• Corporate Executives
• Business People
• About to wed couples
• Sports men and women

Our Competitive Advantage

A close study of the shoes retail stores industry reveals that the market has become much more intensely competitive over the last decade.

As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other leading shoe retail stores in Charleston – West Virginia and throughout the United States and Canada.

Louis & Louisa Shoe Store®, Inc. is launching a standard one stop shoes retail store that will indeed become the preferred choice of residence of Charleston – West Virginia and every other location where our outlets will be opened.

Our shoes retail store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Charleston – West Virginia. We have enough parking spaces that can accommodate well over 30 cars per time.

One thing is certain; we will ensure that we have a wide range of footwear from leading manufacturers available in our store at all times. It will be difficult for customers to visit our shoe store and not see the type of footwear they are looking for.

One of our business goals is to make Louis & Louisa Shoe Store®, Inc. a one stop shoe shop for both household and corporate organizations. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups shoes retail stores) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Louis & Louisa Shoe Store®, Inc. is in business to retail a wide range of footwear to the residence of Charleston – West Virginia. We are in the shoe retail stores industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.

In essence, our source of income will be the retailing of a wide range of footwear at affordable prices. Louis & Louisa Shoe Store®, Inc. will generate income by selling the following products;

10. Sales Forecast

One thing is certain when it comes to shoe retail stores, if your store is well stocked with various types of footwear and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Charleston – West Virginia and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the shoe retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Charleston – West Virginia.

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

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing same shoe brands and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Lord Louis & Louisa Shoe Store®, Inc., we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Charleston – West Virginia.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the shoe retail stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston – West Virginia.

In other to continue to be in business and grow, we must continue to sell the footwear that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Louis & Louisa Shoe Store®, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our shoe store in a grand style with a party for all
• Introduce our shoe store by sending introductory letters alongside our brochure to organizations, households and key stake holders in Charleston – West Virginia
• Ensure that we have a wide range of footwear from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our shoe store
• Position our signage / flexi banners at strategic places around Charleston – West Virginia
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our shoe store.
• List our business and products on yellow pages ads  (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our shoe store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our shoe store.

Louis & Louisa Shoe Store®, Inc. has a long term plan of opening outlets in various locations all around West Virginia and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Charleston before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Louis & Louisa Shoe Store®, Inc.;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+  and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Charleston – West Virginia
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Louis & Louisa Shoe Store®, Inc. and the products we sell
• Advertise our shoe store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to shoe stores, it is normal for consumers to go to places (shoe retail outlets) where they can get footwear at cheaper price which is why big player in the shoe stores industry like Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co will attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with Caleres, Design Shoe Warehouse (DSW), Foot Locker Inc., Brown Shoe Company, Payless Shoes and co but we will ensure that the prices and quality of all the footwear products that are available in our store are competitive with what is obtainable amongst shoe stores within our level.

• Payment Options

The payment policy adopted by Louis & Louisa Shoe Store®, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Louis & Louisa Shoe Store®, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our footwear.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a shoe retail store business; it might differ in other countries due to the value of their money. This is the key areas where we will spend our start – up capital;

• The Total Fee for Registering the Business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Louis & Louisa Shoe Store®, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• Cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
• Cost for Shop remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory (stocking with a wide range of footwear from different brands) – $250,000
• The cost for counter area equipment – $9,500
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a Website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our shoe retail store in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Louis & Louisa Shoe Store®, Inc.

Louis & Louisa Shoe Store®, Inc. is a private registered business that is solely owned and financed by Louis Anderson and his twin sister and business partner Louisa Anderson. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $250,000 ( Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Louis & Louisa Shoe Store®, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality footwear a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Louis & Louisa Shoe Store®, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers and suppliers of footwear: In Progress

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One, Two, Step!

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.">.

One, Two, Step! will carry only top of the line quality in women’s shoes and accessories. Our selection will range from the basics of comfortable flats and sandals to the trendy style of stiletto shoes and boots. We will be purchasing through sales representatives and manufacturers in a variety of sizes, colors and style to fit our customer base. The greatest percentage of merchandise will be in shoes, followed by accessories.

One, Two, Step! is organized as a sole proprietorship in the name of Chloe Goodlowe. One, Two, Step! will be located at 123 Shoe Lane in  Houston, TX, temporarily, until it is vast enough to expand into a store of its own, located in West Houston.

The hours of operation will be Monday – Friday 10 a.m. – 6 p.m., Saturday 10 a.m. – 8 p.m., and closed on Sundays. Customers will be able to purchase directly from our website and VIP Showcase Events. There will be extended special hours designated during Christmas holiday shopping season.

All merchandise will be purchased according to the company’s mission and customer focus of shoes ranging from sizes 5-13 and accessories. Management will rely on customer feedback, suggestions, and sales reports to introduce or eliminate certain brands, styles and sizes.

The Concept Recognizing that the market for quality shoes in extended sizes is quite competitive using the larger shoe retailers, One, Two, Step! will minimize the competition by targeting specific niches, generally focusing on other retail stores whose prices are too expensive, lack quality and are not “shoe size efficient”.   

One, Two, Step! has three keys to success. The first is establishing a high quality, high value relationship with its vendors and customers. The second key is to ensure reliable and timely delivery of their products. The last key to success is reliable administration of the organization. This boutique business plan is intended to provide the structure to make sure this last key to success is realized.

One, Two, Step! is set up as a home-based business, with plans for expansion into a store/boutique in the near future. This will be the most cost effective arrangement, yet provide the requisite amount of service and support.

The Market One, Two, Step! will grow at 3% and there are many potential customers now, patiently awaiting the start of business. One, Two, Step! will differ from other retail shoe stores because we will always be less expensive than the competition, but we will still maintain the high quality of our shoes.

Also, we will offer a sales promotion on a monthly basis, such as:

• buy one, get one half price
• buy one, get one free
• half off on shoes from the previous season
• “One, Two, Step!” dollars (for every $50 dollar purchase, the consumer receives an additional 20% off of their next purchase)

In the future, One, Two, Step! will design its own, custom-made shoes for women and men.

The Sales Strategy Our marketing strategy will not exceed 5% of our annual gross sales. We will use a wide range of approaches, including our website with free shipping, postcards, business cards, and word of mouth.

The objectives of One, Two, Step! are:

• To market trendy, elegant shoes, ranging from sizes 5-13, that will cater to the needs of the everyday woman.
• To receive a 50% profit margin within the first year.
• To provide customer service, measured through new and 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 achieve a net profit of $5,000 by year two and $15,000 by year five.

The One, Two, Step! mission is to offer quality, name brand shoes and accessories in an assortment of sizes and styles to accommodate the  chic in every woman.

Keys to Success

In order to succeed in the women’s shoe industry One, Two, Step! must:

• Carry an assortment of shoes sizes and style to fit the personalities of any woman.
• Provide customers with top-notch personalized customer service in an atmosphere of southern hospitality.
• Advertise and promote in all areas so that our customer base will learn more about One, Two, Step!
• Continuously review our inventory and sales and adjust our inventory levels accordingly.
• Most importantly, always stay on top of the latest trends in the style of women’s shoes.

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.">

One, Two, Step! is organized as a sole proprietorship in the name of Chloe Goodlowe.

One, Two, Step! will be located at 123 Shoe Lane in Houston, TX temporarily, until we have the volume to expand into a separate store, to be located in West Houston. The site is the owner’s house, along a busy pedestrian area in the trendy shopping section of downtown, and is zoned for commercial/residential use. A prominent street-level entrance leads into a foyer and 2 parlors which are already renovated to accommodate the business. Built-in shelving with under-shelf lighting will highlight the shoes, while antique display tables will hold special and sale items, and accessories. The house is equipped with security monitors, and the second parlor is fully wired for phone and internet access. We will use a point-of-sale system to handle in-house sales. Website sales will be processed by an online credit card processor affiliated with our website hosting company.

All merchandise will be purchased according to the company’s mission and customer focus of shoes ranging from sizes 5-13 and accessories.

Company Ownership

One, Two, Step! is organized as a sole proprietorship where I, Chloe Goodlowe, am responsible for the daily management, sales, and development of the company.

Start-up Summary

One, Two, Step! start-up costs are listed below. The company will start with two months of inventory on hand for shoes and accessories, as this is the main revenue generator. The majority of the company’s assets will reside in inventory. The opening day’s cash on hand balance will be $10,000.

Successful operation and building a loyal customer base will allow One, Two, Step! to be self-sufficient and profitable in year two.

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Management will rely on customer feedback, suggestions, and sales reports to introduce or eliminate certain brands, styles and sizes.

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

The primary target customers of One, Two, Step! are women with a taste for high-quality shoes, ranging from size 5-13. The types of shoes offered are casual and dress:

• Heeled Shoes

The most important thing I wanted to focus on is marketing “plus-size shoes.”  I have many friends and family who are so limited and are really missing out on the fun in shoe fashion because they have a hard time shopping for shoes in sizes 10 and up. This is the main reason I will be one of the few shoe retailers who carries shoes from sizes 5-13.

I want every woman to own and enjoy a nice pair of fashionable shoes!

Market Segmentation

The numbers in the Market Analysis table represent numbers of women in each target market segment residing within 10 miles of the store location. The numbers for each category are based on the existing customer base of local shoe and accessory stores.

I also anticipate a number of web customers, but those numbers are harder to estimate. They have been left out of the market analysis table, but I expect 2% of all sales in the first year to come from the website.

Here is a  breakdown for my Market Analysis table:

• The Working Woman : is generally going to spend $20-$50. They’re looking for comfort and quality for the everyday 9-5.
• The Retro Woman : will spend $35-$75. Keep in mind, this is a woman who loves classic and the word “limited edition.”
• The Woman on the Edge : loves trendy, chic and whatever is in for the season. She will purchase a pair of gold shoes–sale or not!
• The Red Carpet Woman : must have a shoe that is fresh off the runway and she has to be the first woman to ever wear a pair of Manolo Blahniks. She will pay $400 and the sky’s the limit for a pair of shoes. 

Target Market Segment Strategy

Our trendy location and upscale interior will make shopping at One, Two Step! an indulgence for every woman. However, our marketing efforts will attract different market segments with targeted ad campaigns and sales.

Working women : The majority of our shoes will be priced below the standard for their quality and this shopping district. I am planning on lower margins for the first three years in order to establish a broad customer base, and lure “working women” who come through this area to see a pair of shoes from One, Two, Step! as an affordable luxury. Our initial marketing thus includes print ads in the local paper’s weekend shopping section, as well as flyers put up around the downtown financial section nearby. This is our largest customer base, and will be important for maintaining healthy month-to-month sales. Our challenge with this group is to convince them that they can find affordable, comfortable, and stylish shoes downtown; they don’t have to go to the mall.

Retro and Trendy women : This group includes college students and young professionals, as well as professional women in more creative fields. Our marketing efforts to these segments will include flyers on the local campuses and print ads highlighting our unique product offerings, with an emphasis on “the latest” looks. We will attempt to get free coverage of our grand opening in the fashion section of the local paper, and will encourage local fashion magazines and the newspaper to use us as a “fashion expert’ resource on footwear issues. The patronage of this group will give us an air of youthful and creative energy, while maintaining sophistication.

Red Carpet women : These women know each other, go to the same events, and wouldn’t be caught dead in the same shoes. Our targeted ads in the opera and symphony booklets, as well as donations to local fundraiser auctions, will establish us among this group as an upscale and exclusive boutique. We will offer special-ordering and maintain a very low inventory of the highest-level shoes, in order to keep these customers’ purchases exclusive. Although sales in this group will be low and occasional, they will give us the air of sophistication we are seeking. To say, “I got them at One, Two, Step!” should be a claim to good taste and high class. Our challenge with this group is to maintain the air of exclusivity while offering a wide-enough range to appeal to their different tastes.

Industry Analysis

In the Women’s Shoe industry, most companies are manufacturing their own shoes and they have their own retail stores to market to the consumers. A lot of the distribution is through promotional ads, word of mouth, the internet and other promotional means. Small, high-end retailers like One, Two, Step! usually focus on two or three brands, and use targeted ads and word-of-mouth to gain new customers. 

Competition and Buying Patterns

Competition for our first three market segments is usually driven by who is offering the best quality, most interesting shoes for less. The key to success is the quality of the shoe: how it was made and with what materials. In the fourth and smallest market (red carpet women), as well as among the trendy women, the shoe’s designer and uniqueness, and the store’s warmth, sophistication, and customer service are usually more important than price.

The buying factors include what is “in” for each season, and the relation of comfort to style each woman is aiming for.

A few of the main competitors are:

Store A : They have a great selection of women’s shoes and they have all of the latest styles, but their shoes are a bit over-priced. Also, they are limited in the sizes of shoes they sell. For example, I wear a 9 1/2 but I always purchase a size 10 or an 11 (11’s only if I’m purchasing stillettos). A usually does not carry 11’s, only in a few styles. Also, their shoes are extremely narrow and are not made for all types of women’s feet. However, a big plus for this store is when you are at the register, ready to pay, they provide a shoe protectant for no charge and the protectant really does work. 

Store B :  They have very decent prices for their shoes but not all of their shoes are of good quality. Some of their shoes are made at a second-rate and you can tell just by looking at the details of the shoe.  B is also another store that is limited in their shoe sizes.

Strategy and Implementation Summary

Strategic Assumptions:

• One, Two, Step! will aggressively pursue all contacts through networking.

Competitive Edge

One, Two, Step! will differ from other retail shoe stores because we will always be less expensive than the competition, but we will still maintain the high quality of our shoes.

• “One, Two, Step ” dollars (for every $50 dollar purchase, the consumer receives an additional 20% off of their next purchase)

Marketing Strategy

Our marketing strategy will not exceed 5% of our annual gross sales. Marketing will be via:

• 1, 2 Step! website (to be launched in the first year of business)- free shipping if ordered by 2pm central.
• Advertisement postcards
• Business Cards
• Word of mouth

Sales Strategy

Our key to sales strategy at One, Two, Step! will be a great buying experience, every time. Once a customer comes in the door, they will be greeted and assisted as much or as little as they wish. Some customers are uncomfortable with lots of personal attention; others expect it. Chloe’s experience as a retailer has taught her how to read the subtle signs that tell her what a customer is seeking when they enter. All customers will be offered tea or coffee while they shop, and we will have comfortable chairs for friends to sit in while waiting.

Our sales goal is to generate repeat business and strong word-of-mouth advertising based on this great buying experience. Word of mouth in new women’s apparel and accessory stores tends to spread to family, friends, co-workers, church members and people we depend on to provide us a service (hair stylist, nail salon,doctors, etc.), in and out of state. 

We also plan to have software to collect customer information such as:

• Names, addresses, email addresses and phone numbers
• What type of shoes the customers prefer

One, Two, Step! will also accept returns/exchanges of unworn shoes with receipt within 30 days of their purchase to build a trust with all of our customers.

Sales Forecast

I expect a growth rate of 3% annually on shoe sales. I am projecting my sales to be at this level due to the low wholesale prices and the demand for women’s shoes. If you notice in my forecast table for the Christmas holidays and summer time, sales will increase. College kids will be out of school from May to August. Research shows that most consumers tend to spend the most money during the holidays for Christmas gifts and they can’t miss out on all of the great holiday sales.

In January, sales will most likely decrease because the average consumer has spent a lot of money for the holidays. January is the month to play “catch-up” on paying their credit card bills and restoring their bank accounts back to normal.

Direct costs for shoe and accessory sales are set at 70% for the first three years. This is much higher than normal for the industry, because of our pricing and specials – we can undersell the competition not through volume, but through the value-added of an exclusive location, personal service, and the owner’s independent income, which does not require a paid salary.

Web Plan Summary

The website for One, Two, Step! will serve as a channel for business.  The consumer will be able to:

• View and purchase their shoes and accessories online (VISA, MC, AMEX, DISCOVER)
• Purchase gift cards
• Take a virtual tour of the store
• Read shoe FAQs
• See our Return/Privacy Policy
• Sign up for One, Two, Step! news and updates
• Complete surveys for customer satisfaction

Website Marketing Strategy

All of our customers will be encouraged to use our website, in state and out of state, for faster service. Shoes and accessories will be sent out via USPS, Fed-Ex, or UPS, depending upon how fast the customer prefers to receive the purchase. The website will include a special “buying shoes online” section, where customers can print out the footprint of each model at actual size, to see how it compares to their foot shape. Each brand that we offer generally conforms to a particular foot shape, regardless of size; tips on picking your best brand for your foot shape will help online customers get a good fit without every leaving home.

Development Requirements

I plan to use a contracted service to design my website.  Projected costs are estimated at $3,000. I plan to have the website officially up and running by year 2 of business.

I have estimated the ongoing costs:

• Website name registration for Site Hosting:  $60 per year
• Search Engine Registration: $30 or less per month
• Site Design Changes:  Changes in the site, such as photography costs (estimated at $150-$200 per shot), are considered to be part of Marketing and Advertising.

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.">

When the company begins the start-up phase, I want to hire an assistant to basically be my right hand and one other person for coverage.  The hire process will be well-thought-out and will take serious consideration to make sure that the employees will be trustworthy, have great attitudes and can provide excellent customer service. I will continue to be in charge of Operations.

I also would like to reach out to college students looking for part-time jobs or just a summer job to earn some extra money for school. I am also willing to hire to the “right” person with no experience, because I feel that everyone has to start somewhere. I remember someone who gave me a chance when I had no experience and now I feel it’s my turn.

Personnel Plan

There will be two part-time employees working 20-30 hours per week. They will be paid at a rate of $9.00 per hour. All employees will benefit from a one day paid holiday on their respective birthdays and one week of paid vacation after twelve months of employment. Bonuses will be given annually in the month of December.

At this time medical/dental benefits will not be offered to employees. As profits increase in the future medical/dental benefits will be offered to all employees.

Financial Plan investor-ready personnel plan .">

However, it is expected that One, Two, Step! will become profitable in the first year, but not excessively so. This is partly due to our lower overall sales price for merchandise, compared to our competitors, but also due to the fact that all our sales must come from customers lured away from other retailers. Once we have a solid customer base, we can increase our margins slightly without risk of losing customers.

Break-even Analysis

Our break-even analysis is summarized by the following chart and table. In order to break even, we must sell at least $7,312 of shoes and accessories per month. We should easily sell more than this even in our first month.

Projected Profit and Loss

The following table and charts show our profitability for the next three years, and detail our operating expenses. these include a portion of the mortgage for my house, for the spaces which will be dedicated solely to business operations.

Start-up Funding

I will be investing $10,000 in the business, and am seeking another $25,000 in SBA long-term loans, to be repaid over six years.

Projected Cash Flow

Our projected cash flow is outlined in the following chart and table. The table lists sales tax collected and paid out, as well as repayment of the loan we are seeking.

Important Assumptions

I assume that the economic conditions will improve in the next two to three years. Therefore, business will be good in year one, but years two and years three.  One, Two, Step! will be very successful.

Projected Balance Sheet

The table below outlines the projected balance sheet. While, as a retail store, we have no plans for long-term assets, we will have a healthy cash balance, growing over the next five years. We plan to pay off our loan within six years, and increase the net worth of the business from $5,000 at start-up to over $15,000 by the end of five years.

Business Ratios

One, Two, Step!’s ratios can be seen in the table below. For comparison, we have included standard business ratios for the Miscellaneous retails stores industry, SIC Code 5999.

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