Hello everybody, My name is Chris
I am interested in starting my own sneaker store but need a few answers, Thank You in advance.
1) I want to start the store with inventory from my personal collection. Since I'm doing this would I have to get a license from the company (nike, jordan, etc... ) because I am selling they're product?
2) I am only 19 years old and don't have much credit on my name, is there anyway I can get money to get my store started? I know I would have to pay the rent a few months in advance, is getting a loan from a bank the best way to do so?
3) Is there anything else that I would need to know before starting?

Thank You once again..

"want to start the store with inventory from my personal collection. "

A sneaker store... shoes right?

Does this mean you want to sell used shoes?

First of all, at age 19, kudos to you for wanting to start a business.

I am currently 21... and I have recently ventured into a restaurant. Let me tell you... a business (no matter how big or small)... is a RIDICULOUS amount of hard work.

Do you have a location already picked out? If so, have you contacted the owner in order to lease it? As far as getting a loan... yes, a bank would work, however, not many banks are willing to hand out money to 19 year olds. It'd be best if you had a business plan to present to your loan officer.

To reiterate oneguyinohio... I don't really understand your "personal collection"... do you really have that many shoes? Do you have them in different sizes?

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Originally Posted by oneguyinohio

"want to start the store with inventory from my personal collection. "

A sneaker store... shoes right?

Does this mean you want to sell used shoes?

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Yes, the shoes some not all will be used but kept in VERY VERY VERY good condition and warn SUPER lightly

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Originally Posted by ISneezeFunny

first of all, at age 19, kudos to you for wanting to start a business.

I am currently 21...and I have recently ventured into a restaurant. let me tell you...a business (no matter how big or small)...is a RIDICULOUS amount of hard work.

do you have a location already picked out? if so, have you contacted the owner in order to lease it? as far as getting a loan...yes, a bank would work, however, not many banks are willing to hand out money to 19 year olds. It'd be best if you had a business plan to present to your loan officer.

to reiterate oneguyinohio...I don't really understand your "personal collection"...do you really have that many shoes? Do you have them in different sizes?

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I have no location set. I have a few picked out but searching for something slightly bigger that what I've seen. As for the business plan, should I have it written out or verbally explain? I also have a cousin willing to dish out $1,600 to get started :) :cool: (lol)

And yes my personal collection. I have had the urge to start this for a while now and I am finally ready to being my venture I have a stock of 200+ pairs ranging in all different sizes and still working on it. I have my tax check coming and that will be used to buy a few more pairs.

Thank You

Hello:

I don't think you have enough inventory for a store and I don't think you have enough money to buy some. Plus, you don't have money for rent, and I doubt a landlord would rent to you based upon your business plan. I would try your local flea markets on the weekend.

excon

PS> Yes, your business plan should be written. As a guide, you should buy some business plan software and follow it along. You can get a good one for about $50.

While 200 sounds like a lot, this is more the number you use when you have a table under a canopy set up on a street corner ( and actually some of them have 300 to 400 pair in the trailer.

But it may be something for a cart or center counter in a mall, or as noted something you may do at a flea market set up

Your main issue now would be to find out where you buy more, lets say you sell 100 your first month, where does more come from.

Also have you figured how many you have to sell a day to stay in business.
Also remember your collection to you, may be merely used shoes to someone else.

Also eBay is a good place to sell lots of things,

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Originally Posted by excon

Hello:

I don't think you have enough inventory for a store and I don't think you have enough money to buy some. Plus, you don't have money for rent, and I doubt a landlord would rent to you based upon your business plan. I would try your local flea markets on the weekend.

excon

PS> Yes, your business plan should be written. As a guide, you should buy some business plan software and follow it along. You can get a good one for about $50.

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My collections is just me.. I also have business partners with collections which in all adds up to about 1,000+ different pairs of shoes... more than some shops I have seen.. I don't have much money for rent hence why I am asking about a loan

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Originally Posted by Fr_Chuck

while 200 sounds like alot, this is more the number you use when you have a table under a canopy set up on a street corner ( and actually some of them have 300 to 400 pair in the trailer.

But it may be something for a cart or center counter in a mall, or as noted something you may do at a flea market set up

your main issue now would be to find out where you buy more, lets say you sell 100 your first month, where does more come from.

Also have you figured how many you have to sell a day to stay in business.
Also remember your collection to you, may be merley used shoes to someone else.

Also ebay is a good place to sell lots of things,

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I will pay a few months upfront to keep me away from the headaches of "what am i going to next to keep it going" in my city NYC the sneakers culture is HUGE and my shop is a good plan for success... and once I sell those pairs that I have already I do use sites such as eBay.. forums as nikeskateboarding.org and issforums.com which are huge sneaker buy/sell/and trade sites

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Originally Posted by crullan

1,000+ different pairs of shoes...more than some shops i have seen..i dont have much money for rent hence why i am asking about a loan

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Hello again, c:

Cool. One problem solved. That's all business is anyway, is solving problems. You're doing great.

However, without collateral or credit cards you're not going to get a loan, unless it’s from a family member or a friend. That's why I suggested a flea market. That's where a lot of great retailers get their start.

excon

Try going to tradetang.com

Very old, archived thread where the original poster hasn't returned in a very long time. Sufficient answers have been given.

Thread is now CLOSED.