Shoe polish is a waxy paste or cream used to shine waterproof or improve and restore the appearance of leather footwear and products and it is produced both in liquid and semi-solid form. The objectives of this study were to develop a shoe polish at optimum point of blend ratio of bee wax, olive oil, water sachet wax and color additive. The work were intended to study the influence of different factors (residence time and dosage of catalyst,) on the quality and quantity of polyethylene wax from water sachet that used for shoe polish formulation. Polyethylene wax were produced by pyrolysing 100 gram of low density polyethylene( water sachet) at different dosage of ZNO ( 10g ,20g,30g and 40g) and residence time of 20,30,40 and 50 minutes and then viscosity, specific gravity and melting point of the produced wax was determined and compared with the standard value. From the experimental result it were found that maximum polyethylene wax yield of 85.6% was obtained at residence time of 40 minutes and 20 gram of ZnO catalyst followed by a yield of 85% at residence time of 50 minutes and 20 gram of ZnO catalyst. Finally shoe polish was formulated from different proportion of polyethylene wax, bee wax, olive oil and color additive. Viscosity, melting point, specific gravity as well as sensory properties like fade resistance, rubbing resistance were determined and compared with that of standard commercial KiWi shoe polish product. Sample with proportion of 45% olive oil, 30% polyethylene wax and 25% of bee wax was the optimum blending ratio that 94% close to the standard kiwi shoe polish. Based on the economic analysis shoe polish production from water sachet is profitable because payback period of the investment was 3.5 years and its rate of investment was 29%.