Q. Why a Red Wing Shoe Store?
A. Red Wing Shoes is the number one purpose-built work footwear brand and is growing. It is considered the premium brand for the Modern Craftsman. The company is a well-established, 110 year old, third generation, privately held company headquartered in Red Wing, MN. Red Wing footwear is sold worldwide in over 100 countries. Red Wing Shoes owns and operates two manufacturing plants in the United States and employs over 1,800 employees. Red Wing Shoes retail stores were first established in the 1950s and have a proven system of success. No other business opportunity offers investors the multitude of benefits, support, and the unique investment features described here. Request a dealer kit today.
Q. Why now?
A. Red Wing Shoes has recently announced the first store expansion program offered in over 30 years. The benefits available and long term growth opportunities are unique in the industry, making owning a Red Wing Shoe Store a superior investment by any measure.
Q. What are the key advantages to owning a Red Wing Shoe Store?
A. You will be associated with a world renowned brand, a respected company with a unique investment opportunity, pay no fees, provided complete field and corporate support, and offered growth opportunities in key markets. Red Wing Shoes is dedicated to your success.
Q. How much money can I make with a Red Wing Shoe Store Dealership?
A. We surveyed 109 stores that used our proprietary software program in 2014. The average sales per store were $851,076, the average cash flow for the owner/operator was $127,363 and the average return on investment was 46.1%. This is not a guarantee of future performance. Results vary based on management style. Dealer Store Financials Information.
Q. Does Red Wing offer a new Dealer any financing?
A. Yes, Red Wing will make a substantial investment in your new Red Wing Shoe Store by providing:
- Extended dating on the initial inventory for up to 15 months, interest and fee free. This saves you about $10,000 in borrowing costs.
- Reimbursement up to $50,000 towards your initial store build-out. This is not a loan and is not repaid.
- Use of Red Wing's proprietary store POS program, free for 1 year. This saves you about $6,000.
Q. Is there any additional financing available?
A. Yes, Red Wing will assist qualified buyers with SBA financing through Wells Fargo Bank, Sterns Bank, or 401k financing through Benetrends.
Q. What is the Franchise Registry?
The U.S. Small Business Administration (SBA) has reviewed and approved Red Wing Shoes as a company whose Dealership system contains no unacceptable control provisions over its dealers. This provides our potential dealers the benefits of a streamlined review process for SBA financings. Loan applications for Dealerships on the Franchise Registry can be reviewed and processed more efficiently and quickly by SBA and its lenders because the respective Dealer Agreements do not need to be reviewed in each individual dealership situation. View the Franchise Registry and search their database for Red Wing Shoes.
Q. What is the total investment?
A. The total investment averages $275,000. However, payments on the largest component (cost of inventory) are deferred for up to 15 months, improving initial cash flow. Please watch our on-demand webinar presentation for more details.
Q. What are the franchise fees, royalties and advertising fund costs?
A. There are no franchise fees, no royalties and no marketing fund fees. Red Wing Shoe Stores are not franchises, they are privately-owned dealerships.
Q. What are the financial qualifications you require?
A. Owning a Red Wing Shoe Store requires a minimum liquidity of $50,000-$75,000, and a minimum net worth of $300,000. Please watch our on-demand webinar presentation for more details about the preferred investor profile.
Q. Will I be able to meet Red Wing Shoe Store owners to discuss their experience with Red Wing Shoes before making a final decision?
A. Yes, Red Wing Shoes will assist you in learning as much as possible about owning a Red Wing Shoe Store. You will meet with members of our Regional Team to discuss your interest as well as tour local stores to meet the owners.
Q. Will Red Wing Shoes assist me with selecting a retail site?
A. Yes. Red Wing Shoes utilizes the market analysis services of a premier site selection firm, combined with the market knowledge of local Red Wing Shoes personnel, to help select sites that best meet the criteria for a successful store. These services will be provided to you at no cost.
Q. I have no retail experience, how does the training work?
A. Yes. Red Wing Shoes utilizes the market analysis services of a premier site selection firm, combined with the market knowledge of local Red Wing Shoes personnel, to help select sites that best meet the criteria for a successful store. These services will be provided to you at no cost. Red Wing Shoe University information.
Q. What assistance does Red Wing Shoes offer to help me market my store and acquired new customers?
A. Red Wing Shoes provides extensive national advertising, local micro websites, and complete store marketing and POS materials for dealer use. The system for successful building of an ongoing base of B2B accounts is also provided along with a list of Red Wing Shoes' national accounts.
Q. How long does it take to open a store?
A. There is a seven step process that each new dealer will be guided through. After a dealer is approved and a location is secured, it takes about 120 additional days to open a Red Wing Shoe Store. Request a dealer kit today.
Q. Can I own/operate more than one store?
A. Red Wing Shoes likes to start most new dealers with a single store and expand, where market opportunities are available, later into additional stores. An additional opportunity can be adding a Mobile Shoe Truck in markets where the demand for on-site B2B service is strong. Individual opportunities may vary. Request a dealer kit today.
Q. Can I have a presence on the internet? What does that cost?
A. As a Red Wing Shoe Store owner, you will receive your own Red Wing Shoe Store micro site linked directly from Red Wing Shoes' corporate home page, at no cost to you. Your site will include all your store information, services, products available, and is an excellent marketing and promotional tool.
Q. How many Red Wing Shoe Stores are there in the United States?
A. There are 500+ Red Wing Shoe Stores operating today in the United States. Expansion plans include adding another 250+ stores in many new and underdeveloped markets throughout the country.
Q. I've see Red Wing Mobile Shoe Trucks. Can I have one?
A. Mobile Shoe Trucks are part of the market growth plan for many, but not every, Red Wing Shoe Store. The first step is to open a single Red Wing Shoe Store. Subsequent growth plans are offered for availability where strong industrial growth potential exists based on an overall market distribution strategy. Request a dealer kit today.
Q. Is there a business to business opportunity with a Red Wing Shoe Store?
A. Yes. This can be a huge segment of your store's overall revenue stream and requires B2B selling and account relationship building to establish and develop this component of your total retail revenue base. Once established, this segment of your business can produce substantial annual revenues year after year.
Q. What brands can I carry in my store?
A. Red Wing Shoe Company's brands of footwear, clothing, and accessories are the only products that can be carried and are needed in a Red Wing Shoe Store. Those brands include: Red Wing, Irish Setter Work, WORX, Irish Setter Hunt, Vasque, and select styles from the Red Wing Heritage collection.