We keep in mind the Prime Minister’s Employment Generation Programme (PMEGP) and Pradhan Mantri MUDRA Yojana (PMMY) and all Government Schemes have prepared Footwear Shop Project Report for Bank Loan.
In addition, inform us if any modification is required in the report. Thereafter, we will amend the report and make it available to you immediately.
After the USA and China, India is the 3rd largest footwear consuming country in the world. All these are separating from each other with very small margin bur very soon India expected to be the second-largest consumer.
India yearly produces 2.1 billion pairs, out of which 90 per cent are consumed internally while the rest are export to European countries.
Opening a shoe store requires planning and preparation, but it can be a lucrative way to make money. Here some steps to start a shoe store business.
A wide variety of shoes available from baby shoe store to bride and grooms, from local to branded. If you are in style and looking forward to startinga business, then starting a shoe store is a good idea. This is a flexible business in which you can operate online or in your local area.
An opening of a shoe store is a money-making and profitable business; only you need good planning and dealing with clients or customers.
Footwear Shop Project report Format
However, the format for the project report includes financial information. Therefore, it includes Projected Balance Sheet and Profit and Loss Statements for the next 8 years. It also includes Ratio Analysis, Market Potential, Business Plan, Industry Trends, and Process.
Also present strengths and weaknesses. Hence, understand in below mention two parts.
Firstly, Footwear Shop Detailed Project Report Contains: –
- Details of Business
- Introduction to Business Idea
- Brief about the effect of COVID- 19 on Business
- Benefits Available under Government Sponsored scheme
- Computation of Subsidies available under the scheme
- Manufacturing or Operating Process,
- Process Flow Chart
- Supplies of Raw material
- Supplies of Plant and machinery
- Export-import Data
- Credit Policies
- Marketing Strategy
- Future Plans
- SWOT Analysis
Secondly, below mentioned financial statements will be for the next 8 Years
- Projected Balance Sheet
- Projected Income Statement
- Cost Of Finance
- Means Of Finance
- Assessment Of Working Capital Requirement
- Cash flow Statement
- Term Loan Repayment Chart
- Depreciation Chart
- Debt Service Coverage Ratio
- Ratio Analysis
- Sensitivity Analysis
- Break-Even Analysis
Gone are the days waiting at the door of expert, as a result, get your project report in hand, now you can get your business plan in just one single click. Further, the report is editable; therefore you can edit it the way you want to.
Consequently, we can modify the Cost of the project, capacity, and loan amount as per your need.
CA Certified Footwear Shop Project Report
However, some banks asking for CA certified report; therefore we provide the same, on additional payment of Rs.1000/- ( One thousand only).
Footwear Shop Project Report for Bank Loan related to business and services in India. The report provides a Business plan in India for bank loan in excel, word and pdf format and also available in the Hindi language.
In Conclusion, we have prepared the business profile in contrast to that you can access it immediately. Our team is also ready for any kind of changes in the project report.
Here are some tips to help owners and entrepreneurs to start a shoe retail store:
Target the Particular Shoe Types
When starting a business, the first thing is to choose a speciality, means whether you want to start with men’s or women’s footwear or you want to deal in leather stocks only or go for various type of shoes only from a single brand or multiple brands or also go for non-branded items.
Instead of all this, you can go for small scale designers of ethnic wears like juttis or mojris or kolhapuri styles or originally sourced leather shoes etc. All this depends on the type of audience and footwear you target for your business, and once the category is finalized, the next step is sourcing the product.
After the shoe product selection, next is planning the business strategy. Start planning in which direction you want to move. Also, try to find out whether online business or opening store is more successful.
Other details like-
- Costing of set up
- Time is taken to settle down
- Business funds obtain
- Number of employees required or not
- Any tools or equipment required
- Finding your competitors
The Business plan is a kind of survey which covers all the details and help to find out unrevealed feature which helps in planning.
Business Registration & licensing
This is the essential step of any business, and you have to do it immediately as soon as you start work not to be stuck in any legal issue. A person who is starting a business depends onchoosing a sole proprietorship or a partnership or a limited liability partnership or a one-person company and doing registration of your business gives identification to your work.
Besides choosing a business structure, some licenses are also required to start a business, and one of the important business is Shop Act if a store is under municipal limits, GST registration is must these days to run a smooth business.
Open Wholesale Accounts
Always ensure that you buy your inventory wholesale at a margin of 40-60% off retail price to make profits and open accounts with wholesale distributors to earn a profit. If you are planning to open a shoe store in a metro city, then you find local vendors or online companies.
Lease a Storefront
When starting a shoe store, choose the selling area and keep your target market in mind. For example, selling designer shoes in the street market is the worst but kid’s shoes selling go very well and increase sales. For a shoe store, you can take a rented store or start online auction sites.
Decorate Your Store
Design interiors of your store as per customer selection. For example, if you open a kid’s shoe store, then go for sparkling decoration and make some playing area.
Marketing the Business
Marketing is the next major step and highly important for any business to get popularity as in case of opening a shoe store, and you get a huge number of competitors. Some tips like business name must be unique with which customers easily connect and identify you in such a big crowd with some beautiful logo which helps you to create a brand image.
Secondly, promote your store using social networking sites, launch websites, use pamphlets or newspaper ads by displaying discounted schemes like complementary saloon coupons, jewellery or clothing coupons etc.
All these ideas help you to speed up your business and help in advertising, and practically, it is a requirement these days for the fashion business.
Some Tips for Opening a Shoe Boutique
While opening a shoe store, you and your staff must be polite and understanding to every customer. For a successful business, also hire several employees to maintain the proper functioning of the store like hire clerks, sales boy and cashiers.
Identify Your Rivals
Groundwork is very important inthe shoe store business as there are two types ofmarkets. One is a low-cost market in which low-cost products are available with brands or non-brands and its lower-class or lower-middle-class people requirement. Other is a high-cost market having expensive branded products.
Research means market study as well as find out your rivals.
Visit all stores within fifteen to twenty kilometres of your store and list out to find out the way they are dealing with customers and identify the strength and weaknesses of your rivals. As they are your future competitors, so it’s better to understand their strategy.
Crowd observance is must during weekends, festivals and weekdays as one can never wear only a single pair of shoes always. People have different tastes for different occasions like parties, formals, casuals and sports activities. All this you can observe only when you visit the market crowd and understand the latest styles.
After observing all points, decide location which should be in a busy market or inside some shopping mall where always crowd available, and easily you can draw customer attention.