Pros & Cons

Start A Hightop Sneaker Business

Pros & Cons

Trying to understand the pros and cons of starting a hightop sneaker business?

Here are all of the pros and cons of selling hightop sneakers online:

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a hightop sneaker business costs significantly less money than most businesses, ranging anywhere from 6,867 to 76,794.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Meaningful business connections You never know who you will meet as a hightop sneaker business. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Easy to encourage "impulse buy" In the hightop sneaker business, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.
Face to face interaction If you are the type of individual that thrives on human interaction, then this is the business for you! With a hightop sneaker business, you will be hands-on with customers and or employees every day.
You can sell your product in various places! There are various different markets to sell your product, which will help you reach different audiences and revenue streams.
You can decide who you work with Gone are the days of working in a toxic work environment with employees that you may not vibe with. As a small business owner, you get to decide who you work and surround yourself with.
Ecommerce retail is growing fast Ecommerce has been grown rapidly over the years and is expected to hit a total of 4.9 trillion dollars by 2021. With running an ecommerce business, you provide your customers with alternative and more convenient shopping experience, which will ultimately drive sales.
Various different ways to make money With starting a hightop sneaker business, there is not just one business model to choose from. This field is amazing in that there are various different ways to make money. Although this may complicate things, it's great to have different options and sources of revenue.
Make money while you sleep The advantage of starting a hightop sneaker business is that you have the ability to have passive income and make money while you sleep. This is the dream for many entrepreneurs.
Cons Description
Crowded Space Competition is high when it comes to your hightop sneaker business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Finding The Right Supplier Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.
High employee turnover In the hightop sneaker business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
You may need to charge sales tax If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)
Work can be repetitive You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!
You might struggle financially (at first)! If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.
Learning Curve When you start your own business, you no longer have upper management to provide you with a playbook for your roles and responsibilities. You should know the ins and outs of every aspect of your business, as every decision will come down to you.