08 Sep, 2017

Shoe Franchise

All over the world there are giants in the shoe industry. Some of the companies would include Adidas, Puma, Nike and Reebok among others. What this means is that starting your own shoe business would not be an easy task at all. Apart from the cost involved in starting there is also the pain and hard work of building your own brand name. This could be an exhilarating process that could backfire. It is therefore a better idea for you go in for a shoe franchise. This you already have a brand name and recognition waiting for you in the market. When it comes to a shoe franchise there are also some costs that one has to incur. There is the start up cost, royalty payments and other operating costs. For instance when you take a company like Adidas, the cost of their franchise is in the region of $110,000. This one is for a single unit. Apart from this there is a required floor area of between 1000 – 1500 square feet. Moreover there are training programs that are conducted by the franchisor for the franchisee coupled with help in your choice of site for the shop. One would also get marketing/advertising which includes sales advertising and promotion that would be done mutually. Surely when it comes to entering into a business like the shoe franchise it would be very vital especially taking into the market of today into consideration to look for ways to reduce your risks and overheads. There is no doubt about the fact that each business faces risk, but it would be good to have in place ways to mitigate some of these risks. Make sure you have a full understanding of the issues that have to do with the return on investment (ROI), the start-up cost and the amount of investment. After successfully working to establish your shoe franchise, it would now be up to you to ensure you offer a customer service that even surpasses that of the parent company or the franchisor. The staff in your business should be of the highest caliber and as such people who understand the nature of the business. With the rate of business franchise failures, you would not want to be a part of this group at all. This would mean a waste of your investment and as such do a due diligence before ever choosing your shoe company.