How much does it cost to create a shoe fashion brand in Canada? Are you planning to create a shoe fashion brand, but you don’t know how to start or how much you have to invest? Do you know exactly what you need to get started? Starting a shoe fashion brand implies design, purchase, and import.
Now, you may already have your shoe store, and you are simply looking to launch a new line of shoes. In this case, you may not know how to do it or how much you must invest to achieve it.
Actually, the first thing you have to consider is that only New Balance has its own factory out of all footwear companies. As a result, they’re the ones that import the largest amount of footwear components abroad or some models of Chinese sneakers. So, what do you need to achieve your goal? At BluCactus, we will help you fulfill it! So, keep reading, so you don’t miss the details.
How much money do I need to open a shoe store in Canada?
Somewhere for sure, you heard about all the advantages of the shoe business. This market is abundant and broad, making supply and demand interesting to analyze.
Now, how much money do you need? What would the profit margins be? On average, it will be a thirty or seventy percent profit. Are your eyes shining with excitement? We bet they are. Now, you may ask how much money do I have to invest?
Before answering, you have to consider how much you are willing to invest. For that, you need a general budget. Secondly, the location, however, your inventory will be what dominates the project and your investment, sales, client portfolio, and profits.
Once you decide on your market’s niche, you will realize that the prices vary depending on the product since a leather shoe is not the same as a shoe at home. If you think bigger, it can vary between $8 to $14. In this sense, some experts consider that you can start with an investment of $1500 to start a small business.
However, if you are going to invest in something more branded, such as a leather shoe, consider that the investment will be a little more due to the nature of the material. So, if this is your intention, experts recommend a $3500 investment. Besides, you must make sure that your inventory is something that you feel comfortable with and have the ability to control.
What does it take to open a shoe factory?
Are you new, and your dream is a shoe fashion brand? I have the solution! If you start from the beginning, there are certain steps to follow to create your own brand or footwear line. Ideally, you should follow them to the letter so that your business is successful and you can see results. Do you have a pencil and paper? Write down!
Your company name must be registered as a business. Obtain a vendor license to cancel sales tax.
Research the shoes that are hot and the ones that your competitors are selling and their prices.
You can do the study through their website.
Analyze very well which ones attract consumers and companies. Plan and set prices through healthy competition.
Find a wholesale supplier or manufacturer. You can order online through free trade related to retail, wholesale, or shoes. Also, look for manufacturer suppliers.
Contact the manufacturer or suppliers. Find out which ones offer the best prices and the types of shoes you are looking for. If your product is for retail sale, I recommend choosing the manufacturer or supplier that offers the lowest cost.
Get a merchant account through your bank to accept credit card orders.
Build your website. Get photos of the shoes for your site and submit that site to multiple search engines using a search engine optimized so that it appears on the first pages. Here you can create a blog within your website to position yourself.
At BluCactus, we can help you by creating content for your blog with experts to position your brand and prepare articles related to your shoe fashion brand with SEO to improve that positioning and attract customers.
Contact independent distributors if you sell wholesale. Talk to the ordering clerk and leave a business card if the order is not placed immediately.
Advertise your business in all the places you can. Queue your business in footwear, social media, ads, everything you can digitally, and billboards, newspapers, or magazines to make yourself known.
Order products from your suppliers as consumers or businesses place your orders. Pay only the wholesale cost of the shoes. Also, mail the shipping label to your supplier with the customer’s name and ship the shoes yourself if you are not using a shipping company.
How good of a business is a shoe store in Canada?
In fact, it is the perfect business to open a shoe store since shoes are a product that is always consumed, in fact, all year round, which makes it an excellent business opportunity with profit margins between 50%, 100%, or 120%.
The only thing you need is a warehouse. If you decide to start this business, this can even be your own home. Besides this, you should also do advertising and marketing to get out of what you bought.
Because it’s such a competitive world, you have to put in a little more effort to innovate and make yourself different from the rest, especially in how you distribute your products. The important thing is that you always seek to make a difference with different campaigns.
How to create your own shoe fashion brand in Canada?
We are currently surrounded by brands everywhere. We have even gotten to live with them, and we believe that they come to us as if by magic. However, it is no secret to anyone that the best positioned are the ones that automatically have our full attention.
In this sense, your marketing strategies must be outstanding to add value to your store, which helps you boost yourself and differentiate yourself from the competition.
What is a brand?
I want to explain to you step by step what is needed, and the important point is that you know what a brand means: a brand is a name that gives value to a product or service. They convey an image, a memory, and, of course, have a personality. For example: if I tell you McDonald’s, at once you can imagine the M in its logo or the colours.
Steps to create your shoe fashion brand.
I will tell you about seven rules to consider to create your line of footwear and make it successful. They are effortless to follow.
First, you must segment the market. Like all businesses, you must know your customers and your potential customers. In this sense, you must segment very well since the more closed that segment is, the better and easier it will be to find the common characteristics that will help you improve communication.
It’s not just about sports shoes, for example. It would be best if you were more specific and concrete. Select the sport: running shoes. Only then will you achieve the best segmentation and show your specialty.
It is important to research what your customers want. Know what they like, how they like it. By this, I mean the buyer persona.
Know who they are and what they like, what they buy, where they buy it, how they pay it, and where they get their income.
Being aware of these data will allow you to know them very well and, in this way, you can know their interests and sell depending on their needs. Also, know about the competition, products, prices, how they sell, and everything they offer to your niche.
Focus. Shoe fashion brand
We know that it is impossible to offer everything that the client asks for in terms of cost, quality, safety, exclusivity, or comfort at the same time. However, an immediate solution is to establish all those attributes valued by your audience and focus on them. For example, you can keep “resistance and quality when it comes to running shoes.”
Your footwear line must have personality because that will help you make short, medium, or long-term decisions. That personality must be closely related to the previous points. The running shoe is probably for a man in his 20s and 40s who loves running outdoors.
It would be best to remember that your line must talk about the sector to which it is directed, its segment, and its personality. The approach is used as the characteristic that differentiates it as a promise and its added value. And this is where you already have the brand manual, which will be everything your company or line represents.
The manual will be your best ally and tool for controlling, monitoring, and evaluating strategies. This is where you evaluate the name of your shoe brand, the slogan, and what gives you the identity.
Design and manufacture. Shoe fashion brand
Now that you know your target audience, it is important to define the design and characteristics of the final product and then go into manufacturing. Here we consider the focus and what makes you stand out will be the most important point to consider at this stage.
This is the key to success. This is where you can publicize what you offer. In this case, you must choose between traditional marketing or advertising, and also think about whether to make a mix between the two.
What is the price of the shoe?
As you may have realized, prices always vary depending on the type of shoe you want to sell. However, here I will leave you a guide to know the average cost of pair of shoes in Canada:
Generally, men’s leather shoes are worth approximately $63.00. In comparison, some brands of sports shoes cost $68.
What is the best-selling shoe? Shoe fashion brand
We know that to generate profits, we have to be quite commercial and have the type of footwear in our fashion shoe store that sells the best in the world. Do you know which are the most desired models in the world?
Sneakers have climbed many positions in everyone’s wardrobes.
They look good with everything, even with more formal clothes. In the case of sneakers, they are the footwear that goes with everything.
So, if you are thinking about a new line of fashion shoes, think about them, since they move around seventy million euros.
How much does it cost to create a shoe fashion brand in Canada?
Would you like us to help you to create your shoe fashion brand in Canada?
At BluCactus, we can help you anywhere in the world. We specialize in the creation of web designs and SEO positioning in searches.
Within our expertise, we can help your brand succeed and make your shoe brand perfect in terms of marketing.
We also specialize in understanding the creation of your business branding and content, and we help you develop your ideas. You can contact us through our website.
Are you interested in getting the best help from the best specialists? Contact us now! We are here to assist you.