Podiatrists are always on the look out for ways to make extra money away from the practice. You can dispense materials to patients, order extra tests, perform in house physical therapy all to increase the value to your practice. One idea that a lot of Podiatrists overlook in attempts to earn extra money is to open a running shoe store. It actually makes a lot of sense and many Podiatrists are doing it.
Don’t think there is money in opening a running shoe store, consider this. The average male runner spends about $937/year on his hobby; females a little less. The fact is this is a massive underserved area in the country. These runners have extra money to spend and very few cater to them. Here is an article that fleshes it out more.
And who knows more than a Podiatrist what runners are in need of? Podiatrists need to corner the market on running shoes. There is a ton of money to be made here. Instead it seems like Podiatrists would rather focus on Medicare and income limited seniors that don’t have extraneous income to spend. So how do you start and launch a shoe store for runners? It can be unnerving and nerve wracking but it does not have to be that hard.
The best part of 2021 is a lot of times basic work has already been done for you. Here is a simple business plan for starting a shoe store available on Amazon:
There is even a website that takes you through the step by step motions of opening a running shoe store. There really is no reason for a Podiatrist not to. The fact is a Podiatrist is in the perfect position to promote the store to an already available clientele.