Magazine article Black Enterprise

Fast Foot Service: Heel Quick! Shoe Repair Puts Its Best Financial Foot Forward

Magazine article Black Enterprise

Fast Foot Service: Heel Quick! Shoe Repair Puts Its Best Financial Foot Forward

Article excerpt

As the song goes, "Don't you step on my blue suede shoes." But for people like Marvin Staten and his wife and partner, Shelley, the more scrapes and scuffs the better. Staten is the owner of a Heel Sew Quik! shoe repair franchise in Greenville, N.C.

Prior to opening his own business, Staten spent 15 years working at Procter & Gamble, the Ohio-based international manufacturing and retail company. As a production line leader and manufacturing coordinator, Staten earned a respectable salary of $42,000. Today, he's grossing over $150,000 fixing wing tips and pumps.

Staten spent four years researching 15 different franchise companies before settling on Heel Sew Quik! Since he had extensive experience working with his hands and ample knowledge about machinery, he thought that a shoe repair franchise would suit him.

Besides, Marietta, Ga.-based Heel Quik! Corp. provides more than just shoe repairs. To generate revenues, it offers extensive complimentary customer services such as clothing alterations, dry cleaning, retail sales, luggage repair, monogramming and key making.

After an initial three-week training session, Staten was ready to open shop in 1991. He rented 700-sq.-ft. of office space for a little over $1,200 a month. The franchise fee cost $17,500, and equipment totaled $42,500. Staten financed the deal by using part of his personal savings and $50,000 worth of his retirement money as collateral.

In general, franchise fees range from $2,500 to $20,000, plus a 4% to 6% royalty fee. …

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