How to Start a Shoe Line Business in Bangladesh
Start a Shoe Line business in Bangladesh
Indeed, a shoe line business is one of the profitable business in Bangladesh. You can turn your love into a business by starting your own shoe line in Bangladesh if you’ve got an eye for fashion and a passion for shoes.
Also, you can start your own shoe line with some preparation and hard work. But, you would need to keep up with industry trends by becoming a member of shoe manufacturers and retailer associations when you’ll start the business.
Although you might already have shoe designs pouring out of you, you need an adequate education to be successful. So, you should combine your studies with business, marketing or fashion merchandising as you want to start your own business.
Why Start a Shoe Line in Bangladesh?
As shoes are a major fashion component, no dressing is complete without the shoes. That’s why there is a global market for shoes. It means that there are large opportunities for those who want to go into shoe line in Bangladesh, designing, or retailing.
You’ll need to carry out a market research to identify your potential customers and target market, make a decision in wanting to become an entrepreneur in this field. The type of shoes will be offered regarding whether your brand will include shoes for both genders.
But, it will determine your target market, the type of shoes and the quality you intend to go into will determine your target market. Also, more emphasis will be laid on the quality of the shoes as against the quantity if your target market is a high-end clientele. Also read: 10 Best Manufacturing Business Ideas List
Factors to Be Successful in a Shoe Line in Bangladesh
It would need an entrepreneur who has innovative concepts to bring into the market to run a shoe line in Bangladesh successfully. In this case, the clients not only love the innovation but they also love comfort.
So, you should not sacrifice the comfort of your client in bringing in new innovations. Then the accessibility that comes after the innovation to be successful in this business.
When customers desire to do so, they must be able to get to your products. This is because the location for your shoes must not be far or be of great inconvenience to your clients.
So, as there are more young adults, locating your corporate male shoes in a college area might not be a good idea. Also, there are some other factors that work between successes in this business.
Steps to Start a Shoe Line in Bangladesh
Apart from the factors to be successful in a shoe line in Bangladesh, there are many things to consider. But, more emphasis will be laid on quantity over quality if your clients are low classed. Since shoes are sold in a number of stores and venues, you would have to decide which type of shoe stores you would want your shoes.
Also, you have to be a part of the recent trend of the online presence through the internet. Besides, there are some steps to follow when you’re going to start this business in Bangladesh. Now, let’s know the steps below:
First Step: Business Plan
As it’s hardly any business that does not require a business plan, writing a quality business plan is one of the first tasks you need to address as a startup of the shoe line in Bangladesh shop business.
Before investing hard earned money and time into the business, any serious entrepreneur who intends to make a profit from his or her business, then ensuring that a proper business plan is prepared is vital.
What you intend achieving in starting the business, a business plan will guide you and give you a clear picture. It’s not just for the sake of having a business document in place while having a business plan.
Also, it helps to in draft strategies that will help the entrepreneur effectively administer as well as manage the shoe line business.
Apart from these, the other key components that should be included in the business plan are as follows:
- Executive summary
- Company’s corporate culture,
- Sales and marketing strategies,
- Marketing goals,
- Target market
- Business competitors
- Company’s vision statement,
- Mission statement
- The covering areas
- SWOT analysis
- Financial projection
- Publicity and advertising strategy and many more
Second Step: Suitable Business Location
Since the location has to be one to attract those who love your kind of shoes, choosing an important location for your shoe line business is very vital. Also, it’s important to get your shoes into a mall if you’re selling trendy teenage shoes in your shoe line in Bangladesh.
This is because teenagers mainly hang out at the malls, and are likely to look at what you have on display. If your shoes are for senior citizens or those that do not care to shop in a crowded place then it might be great when you’re just starting out.
Third Step: Financing Your Business
Although a shoe line business idea might sound fantastic, the business would just remain what it is, an idea without the required finance. It means you must keep the highest effort on financing your business. And therefore finding capital for your business idea is a task that every entrepreneur must face. So, it’s best to have a detailed business plan in place before sourcing for funds.
This is because not only does it show you are serious but it also gives investors the opportunity to see where your business is going.
Fourth Step: Required Technical & Manpower
It’s heavily dependent on sub-contract factories for the different and many specialized operations while creating modern shoes. As the tooling and parts might be purchased from a company that specializes in rubber pressing, the outsoles might be developed in-house by the shoe technicians. So, while you’re in a shoe line in Bangladesh you need the following equipment:
- Drag Knife Cutter
- Clicker cutting machines
- Silkscreen printers
- Vacuum Table
- Heel Counters
- Electric Sewing Machines
- Toe box
- Lasting Machines
- Pressing Machines
- Strobel Sewing Machine
- Dryer Oven
- Assembly Line Machines
- UV Light Tunnel
Fifth Step: Marketing Ideas & Strategies
You should be aware of the enormous competition from brand names while marketing your shoe line business. As customers prefer brands they know that which they don’t know, the ones that are status symbols.
You can make market your shoe line in Bangladesh with some specific ways are as below:
- Sending introductory letters alongside the images of your shoes
- Bidding for contracts & delivery reliability
- Consider advertising in relevant fashion magazines, local newspapers, television, and radios
- Getting listed business on local directories and yellow pages
- Consider attending conferences, seminars, fashion and business fairs relating to shoes
- Direct marketing
- Word of mouth marketing
- Presenting online blog