7 Shoe Business Risks And How To Overcome Them For a Successful Business

7 Shoe Business Risks And How To Overcome Them For a Successful Business

Shoes become one of the style objects that are always sought after. Not just to complement the appearance, basically shoes have become a necessity for many people.

Well, this can certainly be used as a promising business opportunity. If you are interested in struggling in this one field, then business people need to understand the various risks of the shoe business from the start.

This will make it easier for you to manage and overcome all these risks with the right steps. If this is the case, the potential for profit in this shoe business will certainly be even greater.

The following are some of the risks in the shoe business and how to deal with them appropriately.

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Large variety of colors

Not everyone likes black or even white shoes. each person will have different tastes regarding the choice of color of these shoes.

This Color Selection will be a challenge for you as a businessman. If you provide all the colors for each version, it will cost a lot of capital.

It would be much more appropriate if you make the color of the shoes based on a certain theme. For example: when summer arrives, issue a collection with a summer theme, such as bright colors, ranging from yellow, red, light blue, and others.

Show this collection in the catalog, so customers will be easier to see and choose the most appropriate color for them.

Varied foot sizes

This one point is also often a challenge in the shoe business. Customers ‘ foot sizes will vary, so you might be thinking of providing multiple sizes at once in each shoe sold.

However, there is a more appropriate way to make it easier for you to minimize too many shoe sizes, namely you can determine the market segment first.

Decide what age your customers will be and what size their feet will be? This will make it easier for you to provide a more appropriate shoe size for each version of the shoe sold.

Provide multiple versions at once

A variety of models may provide great sales opportunities, but this is not suitable for novice businessmen. You will not be able to focus on a particular theme or shoe design, so that consumer goals will also not be achieved well.

For that, you remain consistent to carry one theme in the products sold, so that prospective customers will be easier to recognize and become customers. This will also make it easier for you to brand the business.

Unpredictable market conditions

Market instability is another challenging risk in the shoe business. This can have many impacts, such as: rapid changes in raw material prices, decreased market demand, and even difficulty in obtaining sales figures.

Avoid these risks right from the start. You need to reduce the number of shoe production for some time to come, until finally the market returns everyday and runs stable.

Fashion changes so quickly

Like other style objects, shoes also experience fashion changes fairly quickly. This will be a challenge for beginner businessmen.

Make sure you follow the development of fashion in this field and at the same time make forecasts for the latest versions to be issued. This will allow you to issue a version that suits the fashion and has a great market opportunity.

Price does not match the quality

In addition to version and other things, product quality is always an important point for customers. As a businessman, you must understand this well, because customers certainly do not want to buy something that is not in accordance with what they pay.

You can overcome this by showing product quality through catalogs or direct explanations when customers shop. In addition, also avoid selling prices that are too expensive or too far from the quality of the products sold.

Spending too much money on promotion

Promotion is indeed a necessity in the shoe business. But excessive promotion and swallowing a lot of money can actually make you lose.

It is very important to plan business promotion appropriately, of course with finances that are also in accordance with financial capabilities. This can be done by providing discounts on purchases, benefits in the form of members, and others.

Manage business risk intelligently

For those who intend to plunge into the world of shoe business, be sure to plan everything well from the beginning. Recognize and manage every risk of this business in the right way, so that it does not become an obstacle for you. This will make you get sales figures and success from the shoe business that is run.

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