The shoe selling business is a very profitable business in Kenya if you have a good business plan, location and beautiful, high-quality shoes. You can make over Ksh. 50,000 a month. To make more profits in your shoe selling business, you can sell more women’s shoes than men’s shoes.
Before you start a shoe selling business or any business in Kenya, you need to have a good business plan, identify your target market, and find a good location for your shoe selling business. A lot of shoe selling business owners prefer to sell women shoes because they can get more profits.
Researching the Market
Before you get into the shoe selling business, you need to research the market. Identify which are the fastest selling shoes, where to get them and the demand for them in the market. Women’s shoes sell faster than men’s shoes. This is why it is advisable to sell more women’s shoes than men’s shoes.
Writing a Shoe Selling Business Plan
After researching the market, you need to include your findings in your shoe selling business plan. Your shoe selling business plan should also have:
- Budget and startup costs.
- Source of funds.
- Business location.
- Where to get your shoe supply from.
Getting a Good Business Location
When choosing a business location, you have to choose a busy place. Select a location that can be visible to people from a far distance. You can start your shoe selling business near universities, busy roads or busy markets. It is advisable to target areas with numerous youths.
Obtaining a Business Permit
It is very critical that you obtain business licences and permits for your shoe selling business. The nature of your business should help you determine the business permit you should acquire. If you are looking forward to starting a permanent shoe store, you will need to acquire a business permit from the County Council office. It costs Ksh. 5,000 to acquire this business permit each year.
Advertise Your Shoe Selling Business
You can advertise your shoe business on social media platforms, flyers, etc.
The cost of starting a shoe selling business in Kenya depends on how big or small your business will be, the location of your business, and if you are selling new or second hand shoes.
If you are selling brand-new shoes, you will need about Ksh. 200,000. If you are selling second-hand shoes, you will need about Ksh. 50,000. You will also need to consider other expenses like rent and business licenses and permits.
Is Shoe Selling Business Profitable
In Kenya, the shoe selling business is a very profitable business. Shoes are always in high-demand, which means you can make a lot of profit if you start a shoe selling business.
Your shoe selling business will make a lot of profit if it is located in areas with a large youthful population.
Shoe Selling Business Plan
Just about every person in the world wears shoes. There is always going to be a high-demand for shoes. Starting a shoe selling business in Kenya is a very good opportunity to make a lot of profits. This means that there will be a lot of competition. Your shoe selling business plan should be well-detailed and strategic to help you achieve a profitable and successful business.
Having a proper business plan will reduce countless risks. Instead of starting a business without any plan, you can use your business plan to predict any financial issues and get ahead of any potential issue.
Your business plan should have a description of your business and the products and services that you offer. Your shoe selling business plan should help you identify who your completion will be.
Your business plan should have:
- Your executive summary.
- Products and services.
- Marketing and sales.
- Market analysis.
- Company organization and management team.
- Financial projections.
You can include your goals for your shoe business, your budgets, etc.
Your shoe selling business plan should be well detailed so that you can easily get investors and funding. It is advisable to make your shoe selling business a legal entity.
You should have a target niche market. You can sell any type of shoe. For example, you can sell women’s shoes, children’s shoes, men’s shoes, etc.
You can operate your shoe store either physically or online, where you can sell to people all over Kenya easily.
Shoe Selling Business Plan Example
You should have a well-detailed business plan for any business. This is a brief example of what you should have in your shoe selling business plan.
- Executive Summary
This is an overview of your shoe selling business and your plans for the business. This is normally the first part of your business plan, but it can also be written last. You should choose and register your shoe business name.
This is normally the highlight of your well-detailed business plan.
- Products and Services
This is the main part of your shoe selling business plan. Here, you give information on the services you will be offering, the problems you will be solving with your products.
You should start this part of your business plan with the issue you are solving and your solutions. You can identify your competition in this part of your business plan.
- Market analysis
In this part of your shoe selling business plan, you should add all the information you have about your potential market. Here, you discuss your target market and the information on the growth of your market and the shoe selling industry.
- Marketing and sales
In this part, you explain how you intend to reach your target market, how you want to sell your products to your target market, what your pricing strategy is, and the activities and partnerships you need to make to have a successful shoe selling business.
- Company Organization and Management Team
Investors will be looking forward to seeing good teams in addition to your great ideas in your shoe selling business plan.
Here, you should describe your current team and who you will need to hire. You can also add a brief overview of your legal structure, location, and history if you have already started your shoe selling business.
- Financial Projections
You do not need a business degree to make a solid financial projection. There are many tools and sources to help you build a proper financial forecast.
This part is not necessary, but it is necessary if you want to add extra charts, tables, definitions, or other essential information that were probably too long to add to the other parts of your business plan.
Shoes are one of the basic human requirements, from home wear to event shoes, and to school shoes.
You do not need a lot of experience to start a shoe selling business. The shoe selling business in Kenya is a very profitable business. You can sell a large variety of shoes for men, women, and children.