At Gorilla Sneaks we provide a friendly and authentic online service where we buy, sell and source high in demand sneakers for an affordable price. Our target market is sneaker enthusiasts as well as the general public who are wanting something that we can provide to them with a 100% authentic item at a great price compared to other competitors. At Gorilla Sneaks our service is a lot cheaper but still has that premium service compared to other competitors with their unaffordable prices. Our service has been around for 1 year and has gained over 2500 social media followers on Instagram and has accumulated an annual profit of £3500 with 190 sales and we aspire to increase our sales as well as our annual profit by 3 times as we believe we have achieved something that many other competitors did in their first year.
I want to run my own business as an owner I am my own boss and have the freedom to make my own decisions that I would believe to be crucial towards the business success. In spite of the high financial risk running my own business allows me to have a higher income compared to if I was to be employed by another company, and I believe that I can benefit from my dedication to the business. As the owner, I will be able to work in something that I enjoy and be able to put my skills and knowledge to work and gain personal satisfaction from implementing my ideas and watching my business succeed.
I want to own my own store and employ a small amount of staff with the money I have raised. I believe it will be extremely successful as there are not many sneaker stores in the UK and in this day and age everyone wants the latest trends, however, sneakers do not disappear they have been around for many years and those who took advantage of owning a store when sneakers where out to the public they are extremely successful and are the biggest companies. I would honestly say that sneakers are still at the stage of taking off so it would be the perfect time for all this to take place of owning a store as popularity is only rising. I have conducted a trial by doing a little pop up in my friends store that he owns and I must say it was fantastic and really has made me want to own my own. even though I just had a rack and a shelf with my stock and a little sign many people were interested and I am delighted to say that all the stock I had sold even with me increasing my prices.
This market is aiming to target males and females between the age of 15 and 35. However, Mintel research shows that men strongly prefer buying more casual shoes and sneakers so that men drive trainers’ sales with 46% compared with 33% of women. Young people are interested in the new trends and the new models of shoes because their age is more likely to be image seekers.
The sneaker resale market is growing quickly. In 2019 it had an estimated market size of £2 billion and it is projected to grow to £6 billion by 2025. StockX’s luxury and collectables segment are one of its fast-growing categories, growing by 200% in 2019.
Limited and exclusive trainers and items are to be sold as well as some clothing. The service that will also be provided is sourcing which is when a customer puts in a request for an item that we may not currently have so we will find other suppliers on many different platforms to find the best price for the customer. When sourcing most brands, we have connections through many companies such as Nike and Louis Vuitton where we can get lower prices compared to the public allowing us to sell to our customer for a lower price or if the item is out of stock and needs us to find it for them.
The picture I have shown is my Instagram gorillasneaks as you can see I like to be very professional with photos but I still believe I can make it perfect which from the money I raise will go into some new equipment as well as me investing it into marketing for my page to get out there even more