If you plan on opening a sneaker store, and you’re not entirely aware of some key aspects for this business all your efforts will go down the drain. Even if you’re qualified as being a business man, and you studied to practice it, not having certain knowledge about the sneaker game or the culture won’t allow you to stand a chance in a market that varies from day to day.
Below we decided to highlight some key tips from successful sneaker shop owners while focusing on the real challenges of having this type of business.
Be sure to have something for everyone but the big names will always bring in a crowd
A shop works when it has customers visiting every day so it’s worth stocking pairs for everyone that’s interested in purchasing shoes. Also, it’s worth having all the big releases simply to keep people coming in to see them.
If you manage to keep a good percentage of sale based on all the people that visit your shop that’s perfect, but if you have a lot of people that are simply visiting just to get a good feeling out of seeing a big release that’s not bad either. Getting attention for your business is without a doubt a good thing.
Pay attention to online reactions
You should definitely keep up with all the sneaker blogs just like everyone else in the business is doing. Blogs have their ways of getting quick reactions from the people when a product releases so before drawing the line and deciding to take in a new item make sure you know how the public feels about it on social media.
Be sure that this will impact your sales so by any means necessary, keep up with the public’s opinion to keep your store relevant.
Wait for the hype to settle before taking a pair on consignment
Sneaker prices tend to be unstable so you can often find yourself holding a pair of kicks that won’t have the same value after a short period of time. Don’t fall in the hype and remember that you own a business.
When a shoe gets released you should consider waiting for a while before putting it in rotation. There are a lot of people that cop shoes strictly to sell them and they expect a big profit out of doing this. However, the usual customer that shops for kicks to hold on to them will not agree to pay a huge price simply because he’s not part of the hype.
There’s just certain kicks that won’t sell
Regardless of how impressive your selling technique is, there are certain shoe models that just don’t go well with the public. There’s nothing you can do about it except for stop the acquisition process if you already took in a few pairs and constantly keep yourself informed with the public’s opinion.
This doesn’t have anything to do with the brand either, it’s just people don’t feel certain models so they won’t buy them, it’s as simple as that.
Sometimes it’s just better to keep a hold of sneakers
In this business sometimes trusting your instinct comes with great benefits. If you feel like a pair of kicks don’t have to sell immediately because they’ll do even better in the future, put a hold on them.
Be sure to do your research, and to sell the products that you have when they reach their best price. Sometimes it just takes a while for that to happen, don’t lose trust.
Always look for new ways to grow your network
This is not the type of job to punch in the clock and go home once you’re finished. When your store hours end this is when the fun begins because you need to stay active and always look for new opportunities to connect with people from the sneaker industry.
It doesn’t even have to be about business all the time but staying connected will come with great benefits for your store, no doubts about it.
Never take things personal
Sometimes the people you’re close to in the sneaker game will take decisions that won’t necessarily please you yet you should always try to stay focused and go for what’s best for the store.
Breaking ties with someone simply because of a decision they made is not necessarily benefic for future references and going for someone that’s close to you is not the ideal situation every time either. Always remember that your business needs to come first.
Look for the best connections
You can have all the things we mentioned above right but you’re not able to supply people with fresh kicks your store will fall under, as simple as that.
Look for the best ways to let people know you’re doing business, and constantly try to add the best products to your store, the ones that will keep people coming in and buying them.
Location can make the difference
Your location can make a huge difference not only in attracting the customers but also when it comes to providing a good shopping experience. Your store needs to be clean and well-designed, and you also need to keep in mind that creating a good ambiance will boost your sales.
You can have the best shop in the world but if it doesn’t have a good location that constantly brings in new shoppers, the results are not that hard to guess. You should also consider placing your business as close as possible to college campuses, busy streets, and every similar location.
Work as hard as you can
As we mentioned above, your work is not done once the shop closes for the day. Being a business owner means you need to work even more than any regular employee on managing future orders, maintain good relationships with the distributors, taking care of customer service, and more.
Sometimes things get unpredictable, but with hard work and dedication your business can become successful.