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shoe shop setup ?

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    #62
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭sandin


    Peterdalkey wrote: »
    Hats off to you Sandin!! You saw where we were blind! or was it blinded?

    no - it just reminded me of a situation I had. Had a location (really prime big rent location) and opportunity to get it if I had the right idea. Took about 3 months of racking the head and visiting trade shows - and the end result was something I would never have thought I would ever do in a million years (and yes, it worked very well) - and in turn has led me to what I do today.


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    #63
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    Fair play Sandin!


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    #64
    ted1
    Registered Users Posts: 23,536 ✭✭✭✭ted1


    We had a shoe boutique in town, but closed it on jan 09 ad my wife was pregnant and the market for high end shoes was drying up.

    Genreally you have to buy a minimum of 6 pairs of the same shoe. You can get various sizes. ( do research as to what sizes sell)

    With regards mark up, our standard was about 200%. Buy for 100, sell for 300. 100 goes to pay for the shoe, about 100 goes towards VAT, Rates and other taxes.
    The remainder goes towards rent, wages , insurance, phone, broadband, marketing, buying trips and then you get a little profit.

    Shoes aren't exactly FMCG so the number of sales in an hour isn't great. Also as there fashion you do get left with stock which either needs to get discounted or left sitting on a stock room earning no revenue.

    Best advice would be to rent out the building or get into FMCG or something specialised with a high mark up and low costs


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    #65
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    Ted, the shoe shop has already got the boot, did you not read the thread?


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    #66
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    Peterdalkey wrote: »
    Ted, the shoe shop has already got the boot, did you not read the thread?

    Still some very good insights provided by Ted though.


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    #67
    bob5666
    Registered Users Posts: 202 ✭✭bob5666


    ted1 wrote: »
    We had a shoe boutique in town, but closed it on jan 09 ad my wife was pregnant and the market for high end shoes was drying up.

    Genreally you have to buy a minimum of 6 pairs of the same shoe. You can get various sizes. ( do research as to what sizes sell)

    With regards mark up, our standard was about 200%. Buy for 100, sell for 300. 100 goes to pay for the shoe, about 100 goes towards VAT, Rates and other taxes.
    The remainder goes towards rent, wages , insurance, phone, broadband, marketing, buying trips and then you get a little profit.

    Shoes aren't exactly FMCG so the number of sales in an hour isn't great. Also as there fashion you do get left with stock which either needs to get discounted or left sitting on a stock room earning no revenue.

    Best advice would be to rent out the building or get into FMCG or something specialised with a high mark up and low costs

    Thanks for the advice more than likely just rent building out


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    #68
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    bob5666 wrote: »
    Thanks for the advice more than likely just rent building out

    and the circle is complete.


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    #69
    bob5666
    Registered Users Posts: 202 ✭✭bob5666


    Graham wrote: »
    and the circle is complete.

    Indeed why you never try think things out or you just jump on the first bus that comes :)


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    #70
    Taxburden carrier
    Registered Users Posts: 555 ✭✭✭Taxburden carrier


    You sure run a great sideshow,Bob :P


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    #71
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    it might suit a shoe shop!


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    #72
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    bob5666 wrote: »
    Thanks for the advice more than likely just rent building out

    *groan*


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    #73
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    Peterdalkey wrote: »
    it might suit a shoe shop!

    crying-laughter-smiley-emoticon.gif


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    #74
    bob5666
    Registered Users Posts: 202 ✭✭bob5666


    DubTony wrote: »
    crying-laughter-smiley-emoticon.gif
    Good idea might look into it ?


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    #75
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    bob5666 wrote: »
    Good idea might look into it ?

    You will find all the information on this link to help you make your usual definitive decision
    http://www.boards.ie/vbulletin/showthread.php?t=2057019178


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    #76
    pinkghd70euro
    Registered Users Posts: 3 ✭pinkghd70euro


    Bob has also neglected to mention there are 2 other shoe stores currently operating in this same town who probably hold exclusivity agreements with the majority of desirable brands and with a small population the town could not feasibly accomodate another outlet in my opinion.

    Besides this fact, I do believe that most of your answers have been quite useless. I would imagine shoes to be in the region of 100% mark up, bearing in mind you would be dealing with a rolling stock, meaning you may be making 100% mark up but you then have to re-purchase another pair of shoes to fill the gap left from the sold pairs.

    Also, it is my understanding that you have to buy Boxes of shoes from the majority of reputable companies, meaning you must take the full range of sizes in your chosen style...certainly they will not be all size 12s but equally they wont supply you with only the popular sizes.

    People have also mentioned figures of €20k+ for start up...€10,000 would have you an awesome 500sq ft. shoe shop fully done up and stocked, anybody thinking otherwise is living in space, has no concept of money/business or is a prime example of a boom time "Entrepreneur"

    You should pitch your various ideas on Dragons Den Bob


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    #77
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    pinkghd70euro wrote: »

    I would imagine shoes to be in the region of 100% mark up, bearing in mind you would be dealing with a rolling stock, meaning you may be making 100% mark up but you then have to re-purchase another pair of shoes to fill the gap left from the sold pairs.

    tsk! Feckin' retail. Have to keep re-stockin' the feckin' place so more feckin' customers can buy more feckin' stuff.

    tsk! Feckin' customers !!! :mad:


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