Last updated on March 2nd, 2024 at 05:41 pm
Starting a shoe selling business in Kenya can be a lucrative venture if done correctly. Here is a guide on how to start a shoe selling enterprise in Kenya, including the starting cost breakdown, location, requirements, market size, earnings per day, pros, and cons.
Starting Cost Breakdown
Here is a breakdown of the estimated starting costs for a shoe selling business in Kenya:
| Starting Costs | Estimated Cost |
|---|---|
| Business license | KES 15,000 |
| Rental Space | KES 20,000 – KES 50,000 (depending on location) |
| Inventory | KES 50,000 – KES 100,000 |
| Store fixtures and equipment | KES 30,000 – KES 50,000 |
| Marketing and Advertising | KES 10,000 – KES 20,000 |
| Total | KES 125,000 – KES 235,000 |
Also Checkout: Cost of starting a Bookshop business in Kenya
Location
The location of your shoe selling enterprise is crucial. Consider setting up shop in an area with high foot traffic like a shopping mall, busy street or market, or near a public transport hub. Rent can be expensive in prime locations, but it can be worth the investment.
Requirements
Before starting a shoe selling business in Kenya, you need to:
- Register your business with the Registrar of Companies
- Obtain a business license from the county government
- Open a bank account
- Apply for a tax identification number
- Obtain any necessary permits and licenses
Market Size
The shoe market in Kenya is vast, and there is always a demand for quality shoes. The target market is vast, including men, women, and children. According to a report by Euromonitor, the footwear market in Kenya is worth over KES 20 billion and is projected to grow in the coming years.
Earnings per day
The amount you can earn per day selling shoes depends on various factors such as location, target market, pricing strategy, and marketing efforts. On average, a shoe selling business in Kenya can earn between KES 3,000 to KES 15,000 per day.
Pros and Cons
Pros:
- There is a vast market for shoes in Kenya.
- The potential for high profits.
- The business can be started with a low investment.
- The business can be run full-time or part-time.
Cons:
- Competition can be stiff.
- Location is essential and can be expensive.
- Theft and shoplifting can be a challenge.
- The fashion industry is continually changing, requiring businesses to stay up-to-date with the latest trends.
In conclusion, starting a shoe selling business in Kenya requires careful planning and consideration. With the right location, inventory, pricing strategy, and marketing efforts, a shoe selling enterprise in Kenya can be profitable.
Also Checkout: Cost of starting a Duka Business in Kenya