Directions

• 1). Start by talking to your local Chamber of Commerce representative. Local chambers traditionally have many resources for small business owners. One of your first actions will be to think of a name that fits the vision of your shoe store. You will need to file for a business license using your own name and you will need to file a Fictitious Business Name Form or DBA (Doing Business As). The DBA notifies your constituents that your are doing business under your new company name.
  
  
• 2). Next notify the State Board of Equalization that you would like to file for a wholesale identification number. This I.D. number provides you with tax exempt status when you trade with your vendors. The State Board of Equalization will send you an application packet with instructions on how to obtain this number.
  
  
• 3). Once you have your I.D. number and Business License you can obtain the appropriate financial accounts for your shoe and accessory store. Many banks offer checking and savings accounts tailored to small business owners, particularly Sole Proprietorships or LLCs. Service fees vary greatly so read the fine print closely. Once you've selected your bank and the type of account you will need to provide your personal I.D. (Passport, State Driver's License or State I.D.) your Social Security number and your Business License. Local Credit Unions can provide good banking services as well.
  
  
• 4). Collect information to develop your monthly operations budget. Many on-line sources, such as HTTP://WWW.SBA.GOV, provide helpful information especially for small businesses. Your budget should include all of your major expenses, including elements from the following list.
  
  Operations: The total gross cost of running your business, including utilities, shipping & receiving, rent and inventory.
  
  Marketing: The anticipated expenses of promoting your business, including print and website ads, raffles, prizes and giveaways at your store.
  
  Personnel or Payroll: Any employee-related expenses such as hourly wages or employee benefits programs.
  
  Overall, your budget should address each department's expenses and earnings in detail.
  
  
• 5). Explore your local area for potential rental spaces with your budget in hand. Seek out a location that is on a street with high traffic volume. Ask your vendors for advice on how much space you will need to adequately display your shoes and accessories. Consider how you would like your customer to feel upon entering your shoe store. Think about how your merchandise will be displayed. Most shoes are displayed on racks on the walls, so you will have to make sure the building has adequate wall space.
  
  
• 6). Next, you will need to purchase liability insurance. and most landlords need to be listed as additionally insured. There are many insurance companies in the United States so choose your provider carefully. Make sure the agent is familiar with your business or at the very least with retail stores and discuss your options thoroughly. In addition most landlords need to be listed on your policy as additionally insured. This is a very simple process of just notifying your agent and giving them the information.
  
  
• 7). Determine your inventory requirements and place your orders with plenty of time for opening day. Discuss your vendors' most popular brands and consider adding a specialty shoe. Research the latest shoe and accessory trends and accessories so your inventory will appeal to a wide range of customers. An attractive storefront full of fun shoes and accessories will provide visual appeal and attract more customers.
  
  
• 8). Once your merchandise arrives, review and price each item. Install shelves and racks in your store in order to display your shoes and accessories. Organize your excess stock in a back room area where it is can easily be found when you need it. Stock similar shoes together and make sure the sizes and colors are in plain sight.
  
  
• 9). Rally the town for your grand opening. Talk to your town mayor and other business representatives about making an appearance to show support. Alert the local papers of your new business opening. Distribute fliers offering a discount or other promotion. Now you should be ready for opening day.