NewsWith the birth rate accelerating in most parts of the world, there is a noticable demand for children's shoes. What is interesting is how there has been a shift in attitude from parents to steer towards smaller retailers for buying rather than the bigger more generic outlets when considering options for their childrens footwear. This blog will help reveal the main things that you need to know as you approach your dream of opening up a childrens shoe store.
The first thing you need to do is research. Make sure you research your products first. It is important you get a few neutral opinions on your ideas for products before you start contacting wholesalers. You can conduct focus groups or analyse trends in fashion magazines.
Next it is important to research the area that you want to start up in. Being close to the high street is vital for any business, let alone a start up. Make sure you analyse any major local amenties. This may be a local school, train station or leisure centre. Anywhere where your target market are, is a potential gold mine for your new business. An important note is your price, which should relate to the local market. Don't overprice or underprice by too much, or you will be phased out by locals. Make sure you evaluate tangible costs to your business as certain areas will have variable costs for each service.
Finally, make sure you do your research on suppliers. It is important that you look for established suppliers with a good record of delivering high quality goods with a low turnaround time. Make sure that you will make a good return per unit before placing an order and ask for a discount on large orders if possible.
It is important to note that ordering 3-6 months in advance is the norm in this industry. There are usually only 2 busy seasons so it is best to be prepared so you get the best of the rush when major events such as 'back to school' and birthdays pop up on the calendar. Make sure your shop is buggy friendly to help both mum and baby when choosing products.
Sign up for our Newsletter