How to Start a Shoe Manufacturing Business?
If you have a passion and interest to start a Shoe Manufacturing Business, then make your passion into reality. But how to start a shoe manufacturing business? You can start a shoe manufacturing business, which manufactures, designs, and sell shoes.
According to one research, it shows that shoe manufacturing business is expected to grow by $371.8 billion by 2020. Footwear industry is growing at a steady pace in the past few years. India and China are the largest exporters of shoes to the rest of the world.
So you can understand how large the opportunity is available in this segment.
You have to do hard work to start a shoe manufacturing business. It is just not easy to start the process. You need to do your homework, meet with experts in the field. Arrange a meeting with those who are already in this business for a long time.
You have to understand and follow some rules in the initial days.
Following are some points and guideline to keep in mind when you want to,
Start a shoe manufacturing business – Sample Business Plan
#1. Select your niche
This is the first thing you have to do. You need to select a niche. You have to ask yourself, are you going to manufacture Gender-based shoes, or only children specific shoes. You can create formal or informal shoes. And you can also keep your specialty in sports and athletic shoes like Adidas, Nike, PUMA, etc.
#2. Study Art and Design
When you are designing shoes, you should have the eye of a designer. At least you should have an idea about how the artwork and design are done for shoes. If you lack this area of design, then you may hire professional shoe designers.
#3. Create a Business Plan
With your experience and education in the field of the shoe manufacturing business, you can start creating a business plan.
How much cost is needed to start-up a business? How much working capital is required. What will be your marketing plan? And how you are going to sell it in the retail market?
Include all the points in a business plan, after brainstorming with expert professionals. Take professional help to develop a most comprehensive business plan. Start with creating a business plan. Write it on paper that what you want to achieve, and what are your ambitions for the next 5 years in this business.
#4. Register your business and take a business license
To run a business you should have a catchy name. Select the Business name that suits your need. And then You should register your business with government authorities. Take a proper business license to run the business.
You should make your presence online by designing a website, which will create your global image as a shoe manufacturer. You should also register a trademark if you wish to do so. Read the detailed article on How to start a business.
#5. Make Patterns and Designs
You need to innovate and conceptualize the new designs. You should create patterns and designs of the relevant shoes you wish to manufacture. It takes efforts to a professional designer to create the best design patterns that are more in demand. Keep a watch on the market, what is the current need of customers.
#6. Value Chain Analysis
Value chain in the shoe manufacturing business can include various business entities like raw material suppliers, manufacturers, distributors, and end users, etc. Each of the entities will help you to run the business smoothly.
Analyze each of the entity, and how these will help you in the long term business. Reduce the production cost where you can do it. Make profit margins up and give the quality products to your customers as well.
#7. Raw Material Suppliers
Various raw materials are required when manufacturing shoes. You can take the raw material products like skin, jute, leather, rubber, plastics, synthetics, and PVC soles from the suppliers and vendors.
Search online portals like Alibaba, Indiamart, Amazon, Tradeindia, Justdial, Sulekha, etc. for raw material suppliers. Bargain for the best cost with multiple suppliers. There are a number of suppliers who also provide material at your doorstep.
#8. Start Manufacturing the Shoes
Install the machinery required for the manufacturing the shoes. You need to find the supplier who gives the machinery in a cost-effective way. The raw material will depend on what type of shoe you want to manufacture.
The cost of production may be approx. Rs.10 Lakh to Rs.15 Lakh depending on how much investment you want to do. And you can earn a nice income of Rs.80k to 1 Lakh per month after expenses. The net profit may vary depending on the Shoe pair orders you receive per month.
Find the distributors that make the network channel of your products. They sell your products in the market to retailers. Retailers, in the end, will sell the products to end users. The retailer’s outlet should be the own shoe stores where they can display the products.
The retailers should have a well-decorated store to attract more customers. The store should be on the walkable distance in the local places.
The packaging of your product should be done in neat and clean boxes. It should attract the attention of customers and create brand loyalty among you.
#10. Sales and Advertising
This is the most important part of your business process. You need to publish your brand, let the people know about your products and business. Only the advertising will bring in the customers and eventually the revenue.
You can choose between online and offline media to advertise your brand products. Offline media has traditional methods to advertise like newspaper, trade magazines, whitepapers, TV Ads, etc.
In Online media, you have to make a decent online store website. Then take the professional help of Digitial Marketing Agency. Search Engine Optimization(SEO), Social Media Marketing(SMM), Email Marketing, etc.are the methods you can do online marketing.
Conclusion – How to Start a Shoe Manufacturing Business?
The shoe manufacturing business is growing steadily. There is always a great demand for new and attractive shoe designs all over the world. At the end of the article, you now have a brief idea about how to start a shoe manufacturing business. It is time to act. You can start by writing a business plan. And then executing according to steps.
The post How to Start a Shoe Manufacturing Business? appeared first on Startup Disha.