October 5 2018
It’s impossible to deny that what was once underground street culture has turned into a mass consumer movement. The sneaker industry has BOOMED dramatically within years of the making ,an unstoppable force combining history, technology, celebrity, retail, design, and business into one subject and culture. My passion for sneakers grow more and more each day I see new sneakers being advertised and it’s the reason why I wanted to introduce this plan to one day open my very own sneakers store.
Is it a business that can be run by one owner? Well, yes absolutely but why take a chance by taking a large financial risk with funding your project yourself. There’s no telling if you could lose everything within the next couple of months or grow to a successful business. Income isn’t always steady, there’s no reliable cash flow. Your income is dependent on the success of your business, every business goes through ups and downs in revenue which mean your income will as well and also there are countless rules and regulation to be prepared about. By having a partnership your business is easy to established and start-up would be lower then owning your own business. More capital is available for the project, there is limited external regulation, and its easy to change your legal structure later if any minor and or major changes. So having partnership business is way beneficially then having to own your own, two or more hands are better than one. The sneaker world is growing rapidly, and that means the larger the competition gets but there are ways to crush the competitors. The first marketing technique you can use to defeat your competition is to create value, usefulness, and satisfy the needs of your customers to achieve whatever there looking to achieve. This requires that you offer customers something they need and can’t resist. Smart and positive way that you’ll win any time is by bring the community together and shipping something new for customer’s every month.
Having a good location to open up your business is probably the most important step on keeping your business. The location of a business can affect many aspect of how it operates, such as sales and how costly it is to run. By looking for a good location you should be looking for place where there other business. See if you can benefit from nearby business, by the customer traffic they generate. A second way is by ordinances, find out if any ordinances or zoning restrictions could affect your project in any way. Another way is utilities and other costs. Rent composes the major portion of your ongoing facilities expense. The most important one is, is that environment safe. What’s the crime rate? Will employees feel safe alone where they work or walking to their vehicle or will customers feel safe to shop at your store? Most entrepreneurs and small business owners now and days have come to a realization that they would have to self-fund for their projects for certain amount of time. But many will ask family and friends , its very affective to save up some revenue for a business. Also small business loans, there are many ways to finance a new or existing business, each of features its own benefits and limitation.
By running a business could be risky ,but if you follow your business plan, ask people with experience, and not take it as a game you’ll do just fine. In such climate, the best investment opportunities will be awarded to companies that the ingenuity and creative to meet the customer’s demands for whatever. By having the basic skill of how to run the business lets you learn new materials and help you teach others about your success.