Footwear and Leather Goods Repair — Business Survival Rate
An estimated 55% of footwear and leather goods repair businesses survive their first 5 years, based on U.S. Census Bureau Business Dynamics Statistics. The annual business closure rate is 11.2%.
Is Footwear and Leather Goods Repair a Good Business to Start?
With a 55% five-year survival rate, footwear and leather goods repair is near the national average (~50%). This means roughly half of new entrants will still be operating after 5 years — typical business risk that rewards solid planning and execution.
The annual exit rate of 11.2% indicates moderate turnover. Success depends on differentiation, location, and operational efficiency rather than inherent industry advantages.
Entry vs. Exit Rates
Annual rate of new businesses opening versus existing businesses closing.
Net positive: more businesses opening than closing (+2.4 pp spread).
Job Creation & Destruction
The industry is adding jobs faster than losing them — a positive sign for both workers and new business owners looking to hire. Total employment: 82,110 workers across 19,006 firms.
Want to know how much footwear and leather goods repair businesses actually make?
See full revenue benchmarks for Footwear and Leather Goods Repair →Frequently Asked Questions
- What percentage of footwear and leather goods repair businesses fail?
- Approximately 45% of footwear and leather goods repair businesses fail within their first 5 years. The annual closure rate is 11.2%, with 1,861 firms closing permanently in 2023.
- Is the footwear and leather goods repair industry growing or shrinking?
- The footwear and leather goods repair industry is currently growing with a net job creation rate of +5.8% per year. New businesses are entering at 13.6% while 11.2% close annually.
Source: U.S. Census Bureau, Business Dynamics Statistics (2023). Survival rate estimated from annual exit rates.