BusinessHAB7 Tips about Purses & Shoes Business
7 Tips about Purses & Shoes Business : There are many avenues for starting a retail business. An inexpensive way is to open an eBay store or build your own independent e-commerce website.
Other retail venues include:
Local flea markets.
Street fairs. Push-carts or kiosks in shopping malls.
Along with the standard storefront found in mini-malls and downtown shopping districts.
You can even operate a combination of several of these venues.
With each supporting and marketing the other.
In fact, the growth of e-commerce has made it advisable to include a strong online presence in your total enterprise structure.
Read also: 12 Steps to Start Boutique Business in Nigeria
1. Carry out Research Study:
Research and contact manufacturers and distributors of shoes and purses.
Even if you intend to manufacture and distribute them yourself.
Manufacturers and distributors will be one of your best sources of helpful information for starting your business.
Because it is to their advantage for you to launch and operate a successful company.
2. Create a Business Plan:
Write your business plan describing what types of shoes and handbags you will sell.
Your sales venue.
How you will market your business.
How you will fulfill orders and the legal form of your business.
Such as partnership, sole proprietorship or corporation.
Include a list of costs of merchandise, projected revenues, marketing costs and operating costs.
Take your business plan to banks and potential investors to gather enough funds to get your business started comfortably.
3. Hire a professional website developer:
If you do not know how to build your own website.
Hire a professional website developer.
There are talented and experienced freelance website developers who can create an excellent site at modest cost.
It is better to pay a little more for professional work than put up an amateurish website.
Have a logo designed to use on your site and in all your marketing materials.
4. Get licenses and insurance:
Lease your storefront, kiosk or flea market booth.
And double-check to make sure you have all the licenses and insurance you will need.
It is better to delay your lease until your merchandise has arrived.
In fact, consider starting your business online and building revenues.
Before you take on the liability of a store lease.
5. Put your marketing plan into operation:
Use Twitter, Facebook, your own website and, if you have set up an eBay store, marketing services offered by eBay.
Also consider Google ads and Facebook ads.
If you will open a physical store or booth, have signage designed and manufactured.
As well as business cards, print ad templates and any brochures you will need.
6. Control your optimism:
Your business plan should be as detailed as you can make it, and should deal only in facts.
Do not talk about how your company will be the best, most profitable or a new paradigm in shoe and handbag sales unless you have the facts to prove it.
Control your optimism. Use your business plan to help you discover where you might have overlooked problems.
It is better to change your plan than to make a crippling financial mistake.
7. Purchasing of Goods:
Many shoes and handbags are made overseas, which can be problematic for entrepreneurs inexperienced in the difficulties inherent in the import-export business.
Only use reputable banks and professionals who specialize in import-export.
The joy of saving a few pennies on a merchandise purchase can be quickly destroyed when a container of the wrong products arrives, if it arrives at all.
Read also: 19 Creative ideas on Boutique Business in Nigeria
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