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 December 1, 2023

How to Start a Shoe Store Business

Investment range

$9,000 - $38,000

Revenue potential

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

Time to build

Profit potential

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

Industry trend

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

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

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

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

Step 1: Decide if the Business is Right for You

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

Pros and cons

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

Shoe industry trends

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

Industry size and growth

  • 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.

shoe store industry size and growth

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

shoe store industry Trends and Challenges

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.

shoe store business consumer spending

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. 

shoe store business earnings forecast

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 Shoe Store Business

How to Start a Sock Business

How to Start a Shoe Store Business

How to Start a Sunglasses Line

How to Start a Shoe Store Business

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. 

business plan for a shoe store

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

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

What? Determine your products or services

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

How much should you charge for your shoes?

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

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

Who? Identify your target market

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

Where? Choose your shoe store location

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

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

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

shoe store business idea rating

Step 3: Brainstorm a Shoe Store Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

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”
  • Avoid location-based names that might hinder future expansion
  • Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

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

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

  • 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.

what to include in a 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.

types of business structures

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 2023

business plan for a shoe store

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.

business plan for a shoe store

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! 

business plan for a shoe store

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.

types of business insurance

Step 11: Prepare to Launch

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

Essential software and tools

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

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

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

Develop your website

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

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

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

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

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

Focus on USPs

Unique selling 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 

unique selling proposition

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.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

  • 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!

Subscribe to Our Newsletter

Featured resources.

16 Profitable Retail Business Ideas

16 Profitable Retail Business Ideas

Carolyn Young

Published on December 1, 2022

The world of retail is huge, and lucrative opportunities are many. Retail offers endless areas for a budding entrepreneur to explore ideas for newbu ...

9 Best Trading Business Ideas

9 Best Trading Business Ideas

Esther Strauss

Published on August 12, 2022

Are you a born trader? If so, you’ve come to the right place. Countless businesses involve trade, from import-export to stock trading, from online ...

15 Fashion Business Ideas

15 Fashion Business Ideas

Natalie Fell

Published on June 8, 2022

From the runway to your closet, fashion is everywhere. Clothing is a necessary part of life, and it also allows people to express themselves andshow ...

No thanks, I don't want to stay up to date on industry trends and news.

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 .

Shoe Store Image

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 2024 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.

TRUiC's Startup Podcast

Welcome to the Startup Savant podcast , where we interview real startup founders at every stage of the entrepreneurial journey, from launch to scale.

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!

BusinessDojo

Item added to your cart

How to write a business plan for your shoe store.

business plan for a shoe store

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

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

But, before that, you need a business plan.

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

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

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

Stay with us: we will answer all these questions!

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

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

business plan shoe shop

Elaborating a business plan for a shoe store

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

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

Constructing a sound business plan will empower you to:

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

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

How to organize a business plan for a shoe store?

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

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

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

1. Market Opportunity

The first section is titled "Market Opportunity."

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

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

2. Project Presentation

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

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

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

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

3. Market Research

Next up is the "Market Research" section.

This section describes the target audience for your shoe store.

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

A tailored SWOT analysis is provided as well.

4. Strategy

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

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

5. Finances

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

business plan shoe store

How to make the Executive Summary for a shoe store?

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

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

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

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

How to do the market analysis for a shoe store?

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

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

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

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

business plan shoe store

The key points of the business plan for a shoe store

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

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

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

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

Business model ≠ Business plan

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

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

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

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

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

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

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

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

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

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

How to conduct a competitor analysis for a shoe store?

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

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

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

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

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

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

How to draft a SWOT analysis for a shoe shop?

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

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

The strengths for a shoe store

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

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

The weaknesses for a shoe store

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

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

The opportunities for a shoe store

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

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

The threats for a shoe store

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

How to develop a marketing plan for a shoe shop?

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

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

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

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

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

How to build financial projections for a shoe shop?

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

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

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

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

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

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

  • Choosing a selection results in a full page refresh.
  • Opens in a new window.

Growthink logo white

How to Start a Shoe Business

start a shoe business

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

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

Download our Ultimate Business Plan Template here

14 Steps To Start a Shoe Business :

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

1. Choose the Name for Your Shoe Business

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

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

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

2. Develop Your Shoe Business Plan

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

Your shoe business plan should include the following sections:

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

A sample business plan can help you get started easily.

Finish Your Business Plan Today!

3. choose the legal structure for your shoe business.

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

Below are the five most common legal structures:

1) Sole proprietorship

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

2) Partnerships

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

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

3) Limited Liability Company (LLC)

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

4) C Corporation

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

5) S Corporation

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

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

Incorporate Your Business at the Guaranteed Lowest Price

We are proud to have partnered with Business Rocket to help you incorporate your business at the lowest price, guaranteed.

Not only does BusinessRocket have a 4.9 out of 5 rating on TrustPilot (with over 1,000 reviews) because of their amazing quality…but they also guarantee the most affordable incorporation packages and the fastest processing time in the industry.

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

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

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

5. Secure a Location for Your Business

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

6. Register Your Shoe Business with the IRS

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

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

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

7. Open a Business Bank Account

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

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

8. Get a Business Credit Card

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

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

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

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

9. Get the Required Business Licenses and Permits

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

10. Get Business Insurance for Your Shoe Business

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

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

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

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

11. Buy or Lease the Right Shoe Business Equipment

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

12. Develop Your Shoe Business Marketing Materials

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

The key marketing materials you will need are as follows:

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

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

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

14. Open for Business

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

How to Finish Your Ultimate Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your shoe business plan?

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

How to Start a Shoe Business FAQs

Is it hard to start a shoe business.

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

How can I start a shoe business with no experience?

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

What type of shoe business is most profitable?

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

How much does it cost to start a shoe business?

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

What are the ongoing expenses for a shoe business?

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

How does a shoe business make money?

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

Is owning a shoe business profitable?

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

Why do shoe businesses fail?

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

Other Helpful Business Plan Articles & Templates

Business Plan Template & Guide For Small Businesses

IMAGES

  1. Online Shoe Store Business Plan Template [Free PDF]

    business plan for a shoe store

  2. Women's Shoe Store Business Plan Sample

    business plan for a shoe store

  3. Shoes shop design with plan in dwg file.

    business plan for a shoe store

  4. Adidas Shop Layout

    business plan for a shoe store

  5. Online Shoe Store Business Plan Template

    business plan for a shoe store

  6. Shoe shop business plan template

    business plan for a shoe store

VIDEO

  1. Ye Shoe Company Mene Banayi Hai

  2. START A SUCCESSFUL SHOE BUSINESS TODAY

COMMENTS

  1. 2024 Guide: Launching a Profitable Shoe Store Business

    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! Shoe Business FAQs

  2. How to Start a Shoe Store

    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

  3. Shoe Store Business Plan Template (Free)

    Step into success with our free Shoe Store Plan Template! Craft a solid business strategy to launch or grow your footwear empire. Download now and take the first step towards a profitable venture!

  4. Shoe Store: get a solid business plan (pdf example)

    July 14, 2023 Starting a shoe store is a great idea because it allows entrepreneurs to capitalize on the growing demand for shoes and create a unique shopping experience for customers. Additionally, there are many different ways to market a shoe store and generate revenue, making it a potentially lucrative business venture.

  5. How to Start a 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