Top RULES to Launch Your Shoe Business on a Budget

Hi, I'm Evan Carmichael. Welcome to another edition of Ask Evan. In today's video, I wanted to answer a question from one of my newsletter readers, Francis, who wants to start a shoe stall and wanted my advice on how to get started and get the money to kind of launch his business. So Francis, thanks for the question. I'm always a big believer in not spending money till you're making money, and sometimes, you know, these little retail shops or stalls can be really pricey. So what I would recommend doing is partnering up with somebody who already has a stall in the location that you're looking for and selling something else, so not shoes, and you just take over a little portion of it. And hopefully you don't have to pay for it. I try to negotiate a way where you can maybe share the profits that come in from it, or you can help promote their business a little bit as well. Try to start the business without spending money. When you're making money, you can start spending money, but anybody can spend money. So you want to try to find a way to be resourceful and start bringing in the money without having to spend money to get customers coming in. So cash is king at the start. So start off a little stall with somebody else. See, first off, if it's for you, right? People have great business ideas, they think they're going to be awesome at doing something, and then it turns out that was a terrible idea. They didn't want to do it at all, and they're not really good at it. So why not test it out on a small scale, see if you like it, see if you're good at it, see if it's something you want to continue doing before spending a lot of money investing into something that, you know, you may not enjoy doing. So start small, test it, then I would try to see, you know, get educated on the types of shoes that you're going to be able to sell, the hours, you know, which stall might be a good location for you. So you can test all these things on a small scale and build up your audience. So anybody who comes and starts to buy, try to get their information, try to put them on an email list so you can let them know when you open up your own location. So when you do open up your own place your own stall just for yourself, you're able to have an audience because you know that market delivers for you and you can email people to say, "Hey, you know, we've opened up our new location, much bigger than we had before. Come on, check us out." And you've done it all in a low-risk way. It takes a little bit more time, but your chances of success are much higher and the chances of you losing and burning a lot of money also, you know, go down a lot as well. So hopefully that helps, Francis. Good luck. I'm really excited to hear how it turns out. If you guys have any suggestions for Francis, you know, please leave a comment below. It'd be great to hear from you. And if you liked the video, I'd really appreciate it if you can give it a thumbs up. I love seeing those come in. So thank you, and we'll see you on the next episode.