Business Loan for Retail & Wholesaler Shoe Store

The shoe has become the most important accessory, not only for men but for women as well. These days both dress up in formal attire and hence the need for a variety of footwear is in constant demand. In fact, the truth is male customers have close to twenty pairs of shoes, and on the contrary, women have lined up more than 50 pairs. However, cost wise comparison says that men’s shoes account for about 60% whereas women’s contributions to 30% of market growth. 

Leather being the primary strength of the footwear industry in India, we are the largest manufacturer of shoes next to China. In India, the well-known brands include Nike, Clarks, Reebok, Nunn Bush, and Colehaan always keep expanding their business year after year.  Although these players are known for their leather shoes, India also has many small units making sandals and chappals. These small units also make a significant contribution to the footwear business and in large scale to the economy of the country.

Also, the need for a business loan to start a shoe manufacturing or selling unit in India is increasing day by day. To help entrepreneurs and the country economy grow, we offer shoe manufacturers loans for small businesses at an affordable interest rate across the nation. Our window on business loans is up to one crore and we demand no collaterals. We have tailored all of our commercial lending products to meet all the requirements of small and medium businesses in India.

Effective ways to use the financing option in the shoe industry

A commercial loan offered for the footwear business could be utilized in the following ways:

Technology and machinery: Technological progress has become the prime focus for every footwear manufacturer. A commercial shoe manufacturer loan is utilized to invest in the equipment and machines. This will lead to handle sales through omni channel both offline and online.

Marketing: Promoting the business is the key for each business to grow and survive. The chief component in the present day market competition is to market and advertise effectively. Investments in social media, as well as the advertising channels, require sufficient funding.

Expanding Business: Expansion is mandatory for all companies and shoe business is no exception to it. The shoe manufacturer’s loan helps in expanding the business. It can be either opening business in many locations or improvising the business unit. Any form of expansion that meets customer demand will take the business to the next level. 

Understand the right way to start an online footwear business in India

Online business is the trending option in India currently which can yield great returns but with minimum investment. Hence this part is explained keeping in mind that all the footwear entrepreneurs can go live to stay in the market competing with big brands. 

• Niche Identification – Never beat about the bush, but make a simple plan as the toddler step to establish big. The primary step in creating an online presence should identify a forte. Begin with sandals, chappals, or formals to expand later. You can also have all varieties in a small amount to attract customers across age groups. Take Red Tape as an example and their initiative has been very similar to its beginnings and is today regarded as the central contact point for all shoe needs.
• Make a Business Plan – Once you’ve identified the business forte, then you must write a draft. You need to be a bit clever in accessing the market and make a plan that covers all the varieties and age groups to make sure that the business grows. Your potential for identifying future restrictions is helpful here. So get to know many companies working model and make a plan. Include all the public relation and promotional clauses to your plan and work on it every day to improvise it better and better.
• Apply for the license – After buying the products and creating a space for the business online you need to check for the legal formalities. Apply for license and permit wherever required to host your website online. Do not forget GST, TDS, and VAT as they are the key as per the Indian government to make a successful business. Check this with experts and put them in place to avoid any hassles at the last minute. 

• Website Design – You need to take help from professionals and do not mind shelling a few pennies to get a website designed. People do not find time to sit in front of a PC to purchase products. So you need to have a responsive design and allow your website to be accessed across all smart devices. This is the chief step amongst all that will help you create a brand among customers.

Apart from responsive which can be accessible by all devices, your site needs to be navigation friendly. People should be able to interpret things easily. Let them not search for they want. But provide the list and also make your search tab visible. Let them find what they want quickly. Remember people won’t stay in your site for more than 5 mins and will move on to your competitors if your site is not user-friendly. 

These are the baby steps which you need to carefully take to start an online store. Do not hesitate to spend initially to stay in the market forever. Footwear business online is an effective way to sell and earn a huge profit in the year to come. 

Who is eligible for a commercial loan for the footwear industry?

We are glad for giving you an insight into the footwear business. Now, we would want to let you know about the application process in detail. Begin with the eligibility details and navigate to understand all details. 

• Age limit – 21 to 65
• Minimum ROI 2 LPA
• Be a profitable business in the last one-year minimum

Basic Eligibility Criteria

Features offered by FlexiLoans to avail a business loan for the footwear business

• You can keep your foot anywhere in India to establish as footwear business entrepreneur and we are there in more than 100 cities across India to offer you a loan.
• No need to meet us personally but reach our website and complete the online process. Share all documents via email or upload online. Yes, absolutely no paper works.
• Make up your mind and apply to get approval in 2 days. You need not wait for funding it is an instantaneous process. 
• Check the monthly payment amount using EMI calculator and feel glad that our calculation is easy to interpret and you will not have any last minute surprises. 
• We will support you with a maximum of one crore funding that will let you start a small or a medium scale business. 

Given all these features we can additionally tell that you can take guidance from our industry experts for any clarification related to footwear business.

Documents Required for Footwear Business Loan

Frequently asked questions