How to start a shoe business in 7 Steps

Looking for how to start a shoe business or a footwear business? 

 

Someone rightly said, "A journey of a thousand miles begins with a fabulous pair of shoes."

 

However, the question arises of how to start this journey?

 

Steps to Start a Shoe Business 

 

It takes from 7 to 21 days to completely set up a shoe business.

 

Here are the 7 steps to start.

 

Step 1 - Plan your Business Model

 

Firstly, write down the speciality of your business and what you aim to achieve in the next years.

 

After that, make a clear plan that will help you to know the goals and make the needed improvements. That is to say here are a few points to keep in mind:

 

• How much does it cost to start a shoe company in India?
• Decide between a shoe store or an online shoe business. You can use both channels as well.
• What is your target audience?
• Who are your competitors?
• How much your customers are willing to pay for your product?
• What will be your business name?

 

Decide what all you want to sell

 

A shoe store can sell shoes, sandals, slippers, boots, heels and anything for those beautiful feet.

 

You need to decide your niche. Examples of Shoe Business: -

 

• Kids Footwear
• Occasional Footwear
• Sports/Athletic shoe store
• Formal Footwear
• Casual Footwear
• Customised Footwear
• Branded Footwear

 

 

If you are thinking of starting a shoe business from scratch or maybe buying a franchise, consequently, it is important to decide if this is the best choice for you.

 

Moreover, there are numerous franchise opportunities available for shoe businesses to start with their already established identity.

 

Step 2 - Get the licenses & Business Registration

 

You’ll require a set of registration and licenses to start your shoe company.

 

You need to decide the type of organisation you want to set up. For example, you can go with any of the following:

 

• Private Limited Company
• One Person company
• Partnership
• Sole Proprietorship
• LLP.

 

The documents required for licenses are PAN, Aadhar Card, Address Proof etc. 

 

After that, apply with the corporate affairs ministry for the tax registration of your business.

 

With this in mind, here is a list of the licenses you will need to start a shoe business in India

 

• GST Registration
• Shop Act (if you are starting a shoe store)
• Any other State related licenses (Trade License, NOC)

 

But don't worry. We got you covered here. StartEazy has a team of CA’s and CS’s to help you with obtaining licenses.

 

You can get your registrations hassle-free with StartEazy.

 

Step 3 - Find the suppliers

 

Further, you will need to find shoe wholesalers and distributors who can give you the best goods.

 

Ideally, you should buy from the manufacturer instead of a wholesaler. It may depend on the scale of your operations. You can find vendors through IndiaMart.

 

Step 4 -  Set up important accounts

 

Open a Current Bank Account

Opening a current bank account separately from your account is necessary to keep the track of business profit.

 

Besides, that protects your assets to be involved in business or being at risk. Further, it is easier to file taxes and maintain accounts when you have a separate account for business purposes.

 

Set up Business Accounts

Keeping track of all of your expenses and sources of income is very important to ensure that your business is running smoothly. Therefore, hire a professional accountant.

 

Obtain Permits and License

Get all the required permissions and licenses before starting the business. However, failing to do so can result in heavy fines and may also result in closing down the business.

 

Business Insurance

Just like having a license and permits, having the proper business insurance is also necessary to operate safely and legally. Moreover, it also helps in dealing with losses in case of any unfortunate incidents.

 

Thus, business insurance acts as a protection shield. 

 

Step 5 -Store Location & Layout

 

Picking the right location can help you grow your brand name faster. Moreover, your business will have higher opportunities for growth as it is convenient and noticeable by most customers. 

 

Certainly, make sure that your store has an attractive design and layout to feel welcoming and satisfying for your customers.

 

For instance, try to add enough sitting space, lights and mirrors so they can try the shoes with ease.

 

Step 6 - Hiring

 

Above all, when hiring keep in mind your employees are your brand ambassadors.

 

Therefore, they are the first people to who your customers will talk. Moreover, what impact they make on customers will be a factor in their buying decision. They should be able to provide helpful suggestions and answer their questions.

 

Step 7 - Go Social

 

Last but not least, create a website or social page to promote your shoe business online. It can also help you establish your e-commerce shoe business.

 

A website is a great way to advertise and sell shoes. Moreover, it helps your customers find what they are looking for and helps them shop for them online.

 

 

In the last, let your gathering know about your business. Choose an auspicious date to start your business. Have a wonderful inauguration party and try getting media coverage. And start the run in your shoe business and win.

 

Important Tip to Start a Shoe Business

 

How to increase your sales?

You can increase your sales by various means such as advertising, marketing, distributing coupons, increasing your inventory, improving your customer relations, etc.