Business Overview

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.

Who is this business right for?

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.

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 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.

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.