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NBA wife Warneshia Wallace's adoration for shoes gets a business with style - Los Angeles business news Buying and selling shoes on the internet is a hot business trend that promises growth with brands like XTC, London Trash, and Ziggi NY. Online shoe sales are expected to continue growing with an annual rate of about 11.2 percent through 2018, as outlined by a report from Ibisworld.com. Entrepreneur Warneshia Wallace has included with the mix with The Shoe Box, a small business that encompasses both a physical shoe store in Birmingham, Alabama with an edgy, online presence. I visited with Warneshia in Hollywood within a shoe party she held with celebrity stylist/designer Fallon Seaborn to make new friends and start the opening of her online store. She's the wife of NBA and Boston Celtics player Gerald Wallace and gained her business knowledge during six years serving the U.S. in the Air Force from 2001 to 2007. How do you decide to begin a shoe-related business? I've had passion for shoes since I would be a kid. Every time a new style arrived, I had to own them within my room and I didn't worry about the brand. Any shoe I liked, I got it. I retired from your Air Force and didn't wish to work for anyone, so I desired to do something I love and I love shoes. How did the Air Force allow you to develop your small business knowledge? I always desired to open a shoe store, and in the military I was enjoying the free schooling. I learned all about business operations and management and I graduated in 4 years. I started The Shoe Box in 2013, I jumped in here and was hands-on and I've learned from mistakes as you go along. How were the business enterprise classes helpful and they are you going to open another shoe store? Financially, it solved the problem learn about budgeting. I have a hard time budgeting and so the advice reduced the problem make decisions in connection with marketing and other expenses. I'll give myself 2 to 5 years before I get away and open another store. There's a lot to learn. It seems simple and easy to do but in the process if I stumble, I'll get back up. Who's your customer? The designs are sassy, edgy, as well as for women who like to step out of the box. I do have shoes for every single age and style. Businesswomen and students will quickly realize something they enjoy as well as shoppers about the edgier side. A great deal of older women will walk within the store, go through the 6-inch spikes and say, 'I can't wear these heels.' I say, look into the flats. Where can you buy shoes and do you look at new designers? Fallon Seaborn is the shopper and he or she investigates the brands. My advice to designers is I'm into everything. I don't just buy for myself and I'm offered to new designers. I try to find different styles that are unique and hard to get. Right now, shoppers should know [industry] prices seem stable. Click for the Shoebox Boutique styles and purchasers. |