Sole Proprietor

Lessons learned by a young entrepreneur with a passion for footwear

Thomas Park, owner of Leather Soul in Royal Hawaiian Shopping Center, was named the Small Business Administration's 2008 Young (under 30 years old) Entrepreneur of the Year in Hawaii.   Photo by Karin Kovalsky

Thomas Park kick-started his high-end men’s footwear business with a gutsy investment of his own money in 2004. Park has since built his business into a haven for shoe connoisseurs. From 2005 to 2007, he tripled his sales and in 2008, is on pace for $1 million in sales. Here are his thoughts on small business in Hawaii.

On starting a small business in Hawaii

It’s hard. It’s hard to get up-to-date help and information. The good thing about Hawaii is the relationships you can potentially make. As long as you have a network of friends and business partners, there’s always someone to help.

On using your own money to start your business

I’m a very risky person by nature. Luckily for me, I had the full support of my wife, Lori. When I decided to start my business, Lori was able to take care of most of the bills and keep us afloat. I figured that we were young so even if I failed, we could eat spam and rice until I saved enough to try again.

On being a part of the next generation of business owners in Hawaii

I really look forward to helping other young people start and grow their businesses. One thing I wish I had growing up was a curriculum of small business and sales oriented classes in high school and college. One of my dreams is to teach an accredited sales/ retail class at Iolani or at UH, my alma maters.

On plans for expansion

My five-year plan includes opening another store on Oahu, and a store on the West Coast.

On your best day

My best day would be waking up early to my son Jaeden’s big smile, getting into the shop by about 8 a.m., finishing all my paperwork and orders by 11 a.m., having a great lunch at Chibo, leaving the shop at around 2 p.m., coming home to play with Jaeden, and eventually taking an afternoon nap with him.

On your worst day

My business is simple enough that there aren’t too many difficult things to deal with on a day-to-day basis. The hardest thing to deal with is getting back on track after coming back home from a business trip. Other than that, because I don’t utilize a lot of technology, it’s hard keeping track of various things like orders, bills to pay, back orders from vendors, etc.

On your competitive advantage

I think my success is due to my fearlessness. I won’t ponder about things. When I get an idea, I jump on it. Sometimes it can be bad, but for the most part, it has really helped me seize opportunities rather than let them pass me by. I also know my market very well. I research relentlessly about shoes and fashion in general. I travel to Japan and the U.S. mainland on a regular basis to be up to date with trends. I also spend a lot of my day online blogging and posting on forums related to clothing and shoes.

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