If you know the difference between a pair of Nike Air Jordan IVs and Adidas Trimm Trabbs, starting a niche sneaker business could be your calling.
The US athletic shoe sector was worth $17.5 billion in 2017 and the sneaker resale industry became a billion dollar business.
Reselling rare trainers is mainly the reserve of expert collectors who closely monitor limited-edition releases from mainstream retailers and aggressively purchase as many pairs as possible.
But if spending most of your time in front of a PC screen doesn’t appeal, starting a bespoke sneaker store is a great alternative.
So here are four steps to launching a niche sneaker startup.
1 – Be passionate
You don’t need the encyclopedic knowledge of a top reseller to make a living from sports shoes —being a passionate amateur is an acceptable start.
Natural knowledge of your own favorite brands and can be enhanced by studying sneaker politics.
A little background research will provide you with the vocabulary to talk about the cultural associations of certain shoes and their connections to certain movements.
Once you’re fluent in the lingo, you’ll connect with business collaborators much more smoothly.
2 – Pick a niche
Sneakers have mass appeal — but if you try to sell every shoe available, you’ll be swallowed up by chain store competitors.
So choosing an unusual niche is the best way to stand out from the crowd.
The best sneaker stores in the world sharpen their competitive edges by specializing — they might offer exclusive models from a handful of famous brands, or offer countless variations of the same model.
If your offering is as original as possible, you’ll attract a loyal following.
3 – Store design
You’ll definitely need a decent website to capitalise on the purchasing power of the web.
But any clothing business is naturally tactile — so provided you can afford the outlay, there’s nothing like designing your own shop.
The best concept stores offer customers a completely unique experience that magnetises them until they leave with premium purchases.
Sourcing top quality stock is important — but experiential retail involves everything from floor space design to carefully curated collections in each room.
If you put in the effort, your shop will become the place to be for sports shoe aficionados.
4 – Education
If you’re not a natural entrepreneur, but want your business to stand the test of time, getting some formal business education is a wise move.
Taking an online degree course means you don’t need to delay your money-making plans to study full time.
Gaining an MBA or qualification in digital marketing will provide you with the skills to avoid pitfalls protect profits and market your firm effectively.
And once you make a success of your first business, getting qualified might even make you feel empowered to branch out into different sectors and expand your empire.
Follow these four steps to launching a niche sneaker startup and put your best foot forward in a brilliant new business.
Do you run a sneaker shop? Share your advice in the comments section.
