Handful of tips for shoe business starters
Business Sense really matters
Putting yourself in someone’s shoes seems quite humorous quote ever heard in everyday life but it contains the broader perspective in terms of its meaning. Just imagine yourself putting someone else shoes in real for a moment, it will either not fit in properly or there are chances it huts your feet if you walk in it.
Symbolically that means you will realize the pain of others only when you walk in their shoes. In order to start up a business of shoe store or shop, you don’t really need to put the shoes in your own feet however it means that you are making choice for others (ultimate customers) to put on the shoes on their feet.
On a lighter note, the entire above scenario is not evoked to make you feel panic or scared of deciding about doing this business or not but it actually means to tell you the real sense of doing any business with seriousness and promising results keeping in mind the needs of users or customers.
It is to urge you to keep this point in mind while choosing shoes for your shop or store. In other words what a customer want or need to wear is important while taking any decisions.
Supply Chain involved in Shoe Business
It is all-important to know the supply chain for a business man before starting any business.
It involves following character or roles as stated in easy and simplifying form for better understanding. It will surely help you knowing the procedure from the start till the end in a row as an owner or businessman setting shoe shop.
- Role of Factory:
A factory is the place where the product is being made ready, assembled or created in its final shape to set out for sale in the market. Factory will give its shoes or product line to the distributors or suppliers at a lesser rate because factory will have all the necessary equipment or labor to produce goods in large quantity involving less amount in manufacturing.
- Role of Distributors or Suppliers
Distributors and suppliers of shoes will receive the shoes item or product in bulk from the factory at their own rate or price in less price at this stage because of bulk quantity involved.
- Role of Wholesalers
Distributors and suppliers of shoes will then distribute it to the wholesalers who are dealing with this item with other suppliers for same product line. They will purchase shoes from the distributors in comparatively high price than the factory rate. Whether you are dealing with wholesale shoes or wholesale clothing vendor, the same formulae or rule will apply mostly in this process. For example a factory sells the shoe pair in $4 ($2=manufacturing cost+$2 margin) to the distributor directly. The distributor will then sell the wholesale shoes to the wholesaler in $10.
- Retailers
The wholesaler will sell it at $15 to the retailers at high rate than being purchased by wholesaler itself because retailer will purchase in small or less quantity keeping in mind the interest of customers who are the ultimate buyers of the shoe product.
- Customers
The retailers will sell it to the customers at the rate being defined as per market survey which is of course having great margin depending upon the shoes quality and customer demand and interest in buying the shoes from shop.
