Where And How To Buy And Sell Shoes
Now that you have the shoes, you must find the best channels where you can sell them to turn in a profit.
You can start by creating an account on a consignment shop like StockX to resell the shoes there. Both sites serve as middlemen between buyer and seller. Therefore, you deal directly with either website to sell your shoes. Send them the sneakers when youve chosen the highest bid, and they will take care of the rest.
Sites like StockX are convenient ways to sell your shoes and ensures buyers that they wont be duped by fake sneakers.
On the flipside, you dont get the personal touch from consignment stores that go with seller-to-buyer transactions. However, if youre not much of a salesman or a people person, then this shouldnt be a problem.
If you want the traditional way of reselling shoes, you can always go the way of Facebook Groups, Craigslist, and eBay. These sites allow you to put your personal touch on your pairs product page.
As a best practice, you need to be descriptive and detailed as possible about the sneakers. Leave no stone unturned and make sure that you are honest in your description. Assuming that youre a new seller, itll take time before buyers warm up to you. Therefore, you need to keep working on gaining the trust of buyers and continue marching forward.
Honesty Is The Best Policy
But selling rare sneakers is not as easy as taking good photos and putting them online, Ali underlined. You have to build contacts and cultivate your reputation. In this trade, honesty is the best policy, he explained.
I thoroughly explain to my buyers the origin of my shoes and whether they have been used or not. I never traded counterfeits. All the pairs I sold have been authenticated, said Ali, who is now on his final year at Emirates International School.
Ali added: The common theme among the shoes I sold was their scarcity and if I was not selling authentic shoes, no one would buy from me. In this business, creativity is important and honesty is the main currency.
Tips To Become A Sneaker Reseller
There are several ways to make a living as a sneaker reseller, but only a few tips have a high chance of success. See what works for you and improve over time. Here are tips on how to become a sneaker reseller:
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Conduct extensive research
If you want to build your brand as a sneaker reseller, you need to have a solid knowledge base to know the kind of shoes to buy and resell. As much as new models emerge every other day, old classics still hold an important part in history. The older models present highly lucrative options for pre-owned or even unworn older models that are unique and that collectors covet. Researching on how to start the venture can help you to make the right choices and identify opportunities that can help you avoid flops.
If you do research, you will be able to know the kind of opportunities to seize to make a lucrative deal. Do a thorough analysis and try the business with one pair of shoes and sell on one platform. It doesnt matter if it is a new release or a used one although you need to be careful so as not to get the fakes. Start with something and continue to make it a habit and youll organically grow.
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Choose the right sneakers for reselling
If you want to benefit from the flipping sneakers business truly, you need to purchase shoes that are sold cheaply but have a lasting value in the long run. One way to do so is to buy the sneakers on release day at retail prices, which is where they are at their most affordable.
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Get A Compelling Long Read And Must
Damian Mathews, known as Newton Kicks, is closing in on buying himself a car with the money he has made reselling sneakers. / Photo by Pat Piasecki
When Isaiah Singh pulled into the Fall River strip mall at 10 p.m. on a cold Friday night in March, the Expressions sneaker store had long been closed, its lights switched off and doors shuttered. But as he got closer to the entrance, he could make out the figures of two people already standing outside in line, waiting for the doors to open in the morning. The tall, beanpole-thin high school junior from Cambridge stepped out of the car with a lawn chair in hand, popped it open, and took his place behind themjust long enough to raise his arm in the air and snap a timestamped selfie. Armed with proof that he was third in line, he left his chair turned space saver behind, stepped back into the car, and pulled a blanket over himself to keep warm until dawn.
Singh was like a kid on Christmas Eve, anxious for what the morning would bring. It had been more than a year since hed first laid eyes on the new powder-blue-and-white Air Jordan 1 University Blue high-tops when someone online leaked a mock-up of them in early 2020. He and countless others had been waiting an eternity for the shoes release, and now he was mere hours away from drop day.
From Left: Jovan Harding, Isaiah Singh, and Sadarius Baker of the Skip to My Shoe Instagram account. / Photo by Pat Piasecki
Bodega, a world-famous sneaker store. / Photo by Jared Kuzia
My First Profitable Flips: Starting With $1 T
At thrift stores, I could pick up t-shirts for $1 or $2 and sell them for about $10.
I was able to make money doing this, but it was nowhere near enough to reach my goal of matching the current paycheck.
At best, I was making a $10 profit for each item I sold, and at the peak was selling 5 items per week. Its good that I was making some money on the side pretty consistently, but I became hungry for more and started to brainstorm ideas.
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How To Start A Sneaker Reseller Business
Start A Sneaker Reseller Business
When it comes to starting a sneaker reseller business, you may find yourself in a place where you have to make some big decisions.
You may be asking yourself:
- What’s the first step in establishing my business?
- How much will it cost to start my sneaker reseller business?
- How do I price my sneaker reseller business?
- How do I market my sneaker reseller business?
- … so much more!
We walk you through all of the steps from idea starting launching growing running your business.
The purpose of this guide is to act as an outline for the steps you’ll need to take to get your business running successfully!
Experiment With Pay Per Click Ads
Pay-per-click is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.
Here are some tips to consider:
- Consider connecting the ad to your corresponding landing page so that the audience receives the necessary information after clicking on the ad.
- Conversion Tracking: When running PPC campaigns, be sure to run the ads with conversion tracking.
- Focus on quality keywords, even if there are few as this will save you time and money. When assessing the performance of a keyword, it’s important to track the expense, conversion, and cost per conversion, as well as the ROI.
PPC advertising can be a very important lead generator as long as it’s done properly. Your PPC campaign is intended to drive traffic to your website and help the business scale.
Additionally, if the campaign is not having the desired results, you can make the necessary changes immediately to improve them.
Ryan Schortmann, founder of Display Pros talks about their investment in PPC Ads:
My name is Ryan Schortmann and Im the founder of Display Pros. We are a custom trade show display booth company offering easy to use portable display kits for small and medium businesses wanting to get into the trade show game.
From experience, I know that it is important to give Googles hivemind some time to settle in before each campaign starts seeing consistent results .
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Have Any Of The Major Sneaker Companies Tried To Stop You
“Absolutely. Both brick and mortar stores, as well as online websites, set limits of one-per-person on exclusive sneakers. Its pretty funny. They also employ some of the biggest cybersecurity companies in the world to try to prevent resellers from purchasing online. In a game where profits are so unusually high, its a constant cat-and-mouse game. In the end, theres always a way around things.”
The Brick & Mortar Business Model
When deciding whether or not to start a sneaker reseller business, it’s important to first decide what type of business model you want !
Here are a few things to keep in mind when considering a Brick & Mortar store:
If you do plan to open a physical store, it’s important that you find a spot in a high-traffic area. This is a great way to gain exposure for your business and also get new customers.
It’s also important to consider the higher costs associated with operating a physical store and the long days/hours associated with running a store.
The main benefit, however, is that customers love being able to see products in person. It’s important to recognize that although some people enjoy shopping online, there will always be the shopper persona that likes to touch, feel, and see the product they’re buying.
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Through Starting The Business Have You Learned Anything Particularly Helpful Or Advantageous
During the process of launching this business, it has become increasingly clear how important goal setting really is, both personally and professionally. Taking the time to set goals is something that people often do not do, and I was in this group until recently.
Since this is a true side hustle for me, time management is something that Ive had to focus on closely. I have a traditional day job, a family , and this business among other things. I get up everyday around 5am and each hour of my day is scheduled. Without this schedule in place there is no way that I would be able to manage everything.
If I could go back
I only have one true regret so far when it comes to how Ive built this business. Initially, I was using a popular payment processor , and I got burned once and then again. I should have switched after the first incident, but I didnt.
Based on my personal experiences, the Stripe payment gateway is prone to fraud and stolen credit card payments. The chargeback process on Stripe greatly favors the buyer, and this leaves the seller with a negative balance and missing inventory. While my financial losses were small, the lessons learned are great. Take quick action and trust your gut.
Provide Great Customer Service
Providing exceptional care and creating relationships with clients is a great way to build your reputation and retain customers.
Whether you are an online business or a physical business, it’s highly important to communicate with customers and make them feel like they are the priority.
Just remember: customer service represents your brand, values, vision and YOU as a person.
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Determine Which Business Bank Account You Need
There are hundreds of banks out there, and it can be overwhelming to find one that’s right for your business.
Here are some factors you may want to consider:
- Location – Is your bank close enough that you can easily make deposits or get cash?
- Low Fees – Make sure to understand any and all fees associated with setting up and maintaining your bank account. Ask for a list – banks usually try to keep this hidden and in the fine print.
- Online Banking Services – Make sure you can easily navigate through your online portal and you have easy access to everything you need.
- Line of Credit – What do your options look like .
- Every bank has something that differentiates them from the rest, so make sure whatever that is applied to your needs and values.
Check out this list of the 13 Best Banks for Small Business in 2020 and what makes them so unique.
Are You Looking To Hire For Certain Positions Right Now
As of now, I am able to handle the daily operations of running 513 Kicks. I do strongly believe that if I want to reach the goals that Ive set for 2019, I will need some assistance with taking product photos, uploading products to my website, and managing my social media channels to drive purchases.
I am also looking to create a sourcing team here in Cincinnati that would help to acquire new inventory to sell. All of these positions would be part-time, and paid hourly or per completed task .
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The Process Of Selling On Stockx
Selling collectibles such as sneakers, handbags, and watches on StockX is easy. As a seller, you will first need to set up an account and post your listings. A reseller can either post goods with a fixed price or set it up for bidding.
A user can either click buy now and submit a bid. Or they can place an Ask. This means that you set a price, and users can choose to bid on it. Once the item is sold, you will have to ship the item to StockX for authentication within 2 business days. Once its authenticated, StockX will ship the item and release funds.
How Do You Pick Sneakers To Buy And Flip
“This is one of the best things about this market — I know whats going to be profitable far before theyre released. As soon as a sneaker is announced, Ill have a good idea of the margin. As a rule of thumb, artist collabs, country-specific exclusives, and updated classics are usually great flips. These include Yeezys and Nikes Jordan 1s. Ive got connections that provide me with exact stock numbers, so I know just how limited theyll be, but you actually dont even need to know anything about sneakers to know whats worth buying. Sneaker blogs now make lists of the most popular upcoming sneakers and update them weekly. They even tell you exactly what websites theyll be releasing on. In short, if there is hype and exclusivity, theres money to be made.”
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Get Press Coverage For Your Sneaker Reseller Business
The more buzz around your brand – the more the phones ring, the more traffic to your website, and the more customers as a result.
Here are a few ways you can get press for your business:
Press releases:
Press releases are a great way to share big announcements or news, but in order to get any traction, you’ll need to find a way to make your press release stand out amongst others.
Try to convey a story that really matters, not just to you, but to the reporter and to their audience.
Here are some things to consider when submitting a press release:
- Craft a catchy subject .
- Acknowledge the journalist’s past work and interests – this is key!
- Include the main point of the story in the first paragraph, heck, even the first sentence. Reporters want to hear the juice first and foremost.
- Focus on the facts and try to limit the amount of jargon used.
- Pitch yourself! Help them put a face to the story.
- Make sure your topic is newsworthy. If it’s not, find a way to!
- Try not to include any attachments of your release!
Email is one of the most effective and preferred way to send your press release, so as long as you keep your pitch brief, interesting and personalized , you should stand a chance!
Get Press Using HARO
HARO, otherwise known as “Help a Reporter Out” is an outlet for journalists to source upcoming stories and opportunities for media coverage.
Here are some tips when crafting your pitch:
Plan a Publicity Stunt
Here are a few tips for creating a great publicity stunt:
Part : Building Your Business
What profits can I make?Realistically, if youre just purchasing new releases at first, you should expect to profit between $50-$100 per weekend. Every weekend has a resale opportunity, sometimes Jordan has nothing but Adidas does, sometimes no shoes have profit but streetwear like Supreme does. Be on the lookout and continue to build up your knowledge base so youll be able to sniff out opportunities. Having encyclopedic knowledge is so important so you know what to go after. You cant profit off opportunities that you dont know that exist.
How can I scale the process?
The awesome thing about selling sneakers is that it is incredibly scalable. Like everything in life, you get what you put into it. Whether it is your goal to make a part time income, or to scale to six figure levels, it is both doable. There is enough of an opportunity and a large enough market that you can find your place in it.
Prepare for your level of dedication to result in a similar outcome of pay. Selling sneakers is a true meritocracy so youll get what youre worth. Be true to yourself about what youre willing to put into it, if you want to make tons of money youll need to eat breathe and sleep sneakers.
During my five figure months of $10K+, I was on my phone at 3:00AM EST talking to customers on the west coast while furiously browsing eBay, Instagram and Twitter for good deals.
What are potential productivity bottlenecks?
The biggest tip is to just start small, with one transaction.
Take Action
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