Best Places To Sell Sneakers For Cash
- 9 minute read
In the past, selling shoes online was difficult. It required a huge investment in inventory and shipping methods. And if you shopped too frequently, it would look suspicious to your bank.
Although the digital age changed the way we purchase things, it still hasnt changed our love of sneakers. Most people who have a decent collection of sneakers just buy more stuff keep their options open.
However, some people may tend to over-buy because they dont know when theyll get their hands on something they like again. Every time you go out shopping you should ask yourself one question is this investment will be worthwhile or am I just overspending?
This is a subject where everyone wants to make a profit, even you, no matter what you collect and sell. The trick to finding great places to sell your sneakers is to put yourself in your customers shoes. How did they buy their shoes? How much do they want them? What will they pay for them?
How to find the best places to sell sneakers for cash. Know your customers and focus on top-dollar offers. Here are some of the best places to sell sneakers.
The Sneaker Reseller Market In A Nutshell
Sneakers are released in limited quantities. You build up your inventory by purchasing from manufacturers or retailers . You now add your markup and sell it directly to consumers. This is the main market.
The aftermarket is where like-new and gently-used shoes can be thrifted or purchased on any number of apps. It is also possible to use these apps to find a good deal from another reseller on whats known as the aftermarket.
Do You Sell Any Extras And How Do You Go About It
I have had so many requests for extras! Some of which I would never dream of doing! People have asked to buy used socks which I did agree to for £10 per pair. I sometimes charge £10 for a bundle of 5 photos of feet or feet in shoes. Ive even been paid £20 just for a bunch of photos of the insides of my shoes!
Ive also had requests for videos of me wearing the shoes, some of which I was comfortable with as again, they were only from the legs down. In one of them I was asked to squash a cake wearing the shoes. For less than a minute of footage and a red velvet cupcake I made £35 and gained a repeat customer!
Customers pay the money into PayPal and then I send the photos/videos by email.
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Where To Sell Shoes For Cash Near You
In addition to online consignment shops, you might want to consider selling your shoes through local marketplaces. This can be a faster way to sell shoes, and you receive cash instantly instead of waiting for funds to transfer to your account.
Plus, theres no chance of you having to refund a customer because they didnt like the shoes.
Here are some of the best local places to sell shoes for cash.
Is Sneaker Resale A Legit Business
For Lindsay & Ryan from RNZY in Maine, the answer is yes. They have been reselling sneakers since 2017.
It started by selling some pairs of shoes lying around in their closet. But Lindsay & Ryan decided to make it a full-time venture and its paid off. Last year they made $22,000 in profits and theyve made just under $60,000 in profits so far in 2018.
Some of the most popular products that are resold are cell phones, watches & jewelry, sports memorabilia, collectibles, home decor, and gift cards. Sneakers are towards the top of that list as well.
No matter what product you own, if there is a demand, theres an opportunity to make money. Ive been able to sell several of my own pairs of sneakers on eBay over the last few years. Ive had success selling my kids shoes as well.
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Guide To Reselling Sneakers For Profit
Reselling hype sneakers has become all of the hype now. There has been news that has been published that talk about the billions of dollars that are made from the sneaker industry. As a result of that, you may be interested in learning how to resell sneakers for profit. So I figured that I would give you some tips that I have learned so far.
How To Make Money Through Stockx
Are you a sneakerhead with an entrepreneurial spirit? Then you might consider taking advantage of your love for a good pair of sneakers and profit off it And what better way to sell sneakers and collectibles than on StockX?
Founded in 2015, StockX is a reliable marketplace for collectible sneakers, streetwear, and more. If weve gotten your attention and youre interested in finding out how to make money on StockX, keep reading.
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What Sneaker Reselling Entails
Sneaker reselling is like any other business. Resellers buy limited-edition sneakers to sell to sneaker fanatics at premium prices, making the industry an attraction to many people.
Savvy resellers also buy sneakers with a low appeal, with a hope they will get market notice as time goes by.
Many people compare the business to the stock market, where market forces can determine product pricing and demand.
For example, some latest sneakers might gunner a lot of attention and later lose their appeal.
Annual sales turnover from sneaker reselling exceeds $1 billion. And it is because the internet opened e-commerce doors to many people. Before, sneakers market was minute as resellers could only sell in malls and footlockers.
Today, sneakerheads can stay afloat with trending sneaker information from niche websites and social media sites.
S To Build Your Inventory Reselling Shoes
Buying your inventory to resell sneakers is arguably the most important part of the sneaker reselling business, as it impacts your profit margin directly.
First, you have to know where to buy your inventory. Second, you want to avoid buying the wrong stuff that you will not be able to resell. Let us consider a few things for you to be aware of.
- Step 1 is building up your inventory by purchasing from manufacturers and retailers. It is important to keep an eye on certain apps. Good retailer apps to monitor are Adidas, Adidas Confirmed, and SNKRS .
Bear in mind that this may be the most difficult part of building up your inventory. Quantities are limited, and the demand is high because many people are starting to capitalize on the sneaker reselling opportunity.
- Step 2 is to consider the sneaker community aftermarket.
Fortunately, there are several sneaker industry apps to assist you here as well. Some worth mentioning:
- Step 3 explores online sneaker shops in the sneaker game, other resellers Instagram pages, Facebook groups, and Reddit to find additional inventory.
Before the pandemic , sneaker markets were also useful, both as a buying platform for inventory and as a platform to make money selling stock.
These events are very productive because you deal with a group of buyers who know what they want and have committed themselves by paying an entry fee. Furthermore, they already have cash at hand.
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Dangers Of Sneaker Resale
Risk management is a key part of every successful business strategy. The sneaker resale risk factors are:
· Liquidity: Many strategies involve borrowing money to buy stock. Not being stuck with unsold gear when the loan is due requires careful capital management.
· Shrinkage: Sneakers are hot items, and they can walk out the door. Budget for insurance against loss in storage, transit, or mugging.
· Information: The sneaker biz is increasingly driven by data and tech. Getting unreliable release information of lagged price feeds will lead to price and acquisition strategy errors.
· Quality: If youre buying resold shoes for further resale, you open yourself to counterfeiting and damage. Buy from accredited sources, and request verification from sellers. Multi-angle shots of the shoes against current newspapers is one method.
· Competition: Hordes have been drawn to the business in the push for a quick buck. This makes it harder to get rare shoes. It also creates downward pressure on the margins.
· Regulation: Lawmakers have their eye on taming whats been a free-wheeling industry. Consumer protection concerns see resellers struggling to get the quantities they need, as retailers are compelled to reserve stock for end consumers.
Next Steps For Reselling Your Sneakers
Now that you know how to flip sneakers and where to flip them. Here are some next steps once you begin reselling sneakers for a living or side hustle.
Setting the right prices
So, how can you know how much a pair of sneakers cost? Setting prices for the sneakers can be a bit tricky for a beginner especially to ask for a higher price way above the store price. You need to avoid the underpriced live markets as it can ruin the sneakers resale aftermarket even if its temporarily. Dont under quote your sneakers also if markets are selling at low prices. You can hire someone on Fiverr to create awesome product images, so you sell your sneakers for the right price.
Just like investing, you need to be able to set the right price when you buy AND when you sell. If you receive a check, here are instant online check cashing options. Or if you want to do it in person, here are places to cash checks.
Preparing for shipping
So, youre probably wondering, how will I do the shipping, and what are the overall costs? Before you start shipping, you can try to create an account with USPS because they give you a 20% discount on your labels for having an account with them. Never go into the post office to pay there. Not only will you save the period of waiting in line when theres a drop box, but youll save a few bucks.
Do you think you can make six figures selling sneakers?
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Want To Get Rich Quick Reselling Sneakers These Guys Want To Help
All these stories start the same way: with a pair of sneakers purchased for the retail price, and then flipped for a profit. They start this way because odds are you, or someone you know, has done this very thing, or will very soon. And the odds are decent, too, that your path to that cash, or your brothers or your cousins, has resembled one of a handful of proven methods, whether it involves seed capital from the Bank of Dad or a little bit of gentle corporate hacking. Because as the secondary sneaker market has swelled to somewhere in the range of a $2 billion market with the potential to reach $6 billion by 2025, according to investment bank Cowen, its turned into a boondoggle for everyone involved.
The sneaker resale platform Goat acquired Flight Club last year and then received a $100 million investment from Foot Locker in February. StockX, where people can sell sneakers alongside watches and streetwear, is now valued at over $1 billion dollars. But those profits are also trickling downwards, where a cottage industry is forming, eager to reap the profits of sneaker reselling. Below are the group of people you meet when you start flipping sneakers for profit. They are entrepreneurs who want to make you rich, and just might succeed. But don’t mistake them for benevolentteaching you how to flip a half-dozen pairs of Yeezys will make them phenomenally wealthy, too.
Two AMNotfiy members show off their towering haul
Cook Groups And Online Services:
While they normally charge hefty membership fees, cook groups are exclusive forums that supply information for anyone looking to break into the multi-billion dollar market. They usually offer members access to botting services in addition to exclusive details related to drops. We got a look inside a couple of these groups, including Polar Chefs, a thriving cook group with over 400 members that was started by a teenager who employs 23 people to help him run the group. Cook groups are often run on Discord, a messaging platform that has become a hotbed for sneakerhead activity.
A college dropout runs a multi-million dollar sneaker cook group, AMNotify, with thousands of members across the world. Here’s how he launched one of the first exclusive sneaker forums from a hospital bed in 2017.
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Is It Worth Investing In Sneakers
Reselling sneakers requires hard work and success isnt guaranteed. If youre passionate about sneakers, it might be a worthwhile investment provided you work hard and learn the business. In this way, investing in sneakers is no different than investing in any other asset. And just like investing in the stock market, investing in sneakers is inherently risky and past performance cannot be considered a guarantee of future success.
How Does Stockx Work
First of all, make sure that you download the app, which is available both for Android and iOS users. The most important thing is that the items must be new. This is especially applicable to sneakers. Recently, StockX has introduced a feature for selling pre-owned watches and handbags. However, these have to be in a pristine condition.
So, youve got an item that you want to sell. Wondering how to start? Heres what you must do:
When you sell the product, youll get an email from StockX with a packing slip and shipping label. Youll need to print out those. Heres what happens next:
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How Do You Feel About Your Customers
Personally, I dont have a bad opinion of my customers at all! People have all kinds of fetishes and this particular one benefits me financially, so I cant complain! Not that it floats my own boat
I have found the vast majority of my customers to be incredibly polite and sometimes embarrassed by their requests. Always treat your customers with respect.
Where Can You Resell Sneakers
Because the sneaker resale is a billion dollar business, there are multiple ways to go about reselling shoes. One easy way to start is to look for local selling groups on Facebook. Another way to sell locally is through Craigslist.
The biggest resale websites for any products are eBay and Amazon. Millions of people make a living selling on these two sites alone.
Beyond the general resale sites, there are a number of sites specific to sneaker resale. Among the most popular sites for resellers:
- Stadium Goods
Another option, especially if you are looking to make sneaker reselling a full-time career path, is to create your own eCommerce website. How do you do that? You could be like Lindsay and Ryan and create a site through Shopify, a popular eCommerce platform for resellers. Other popular eCommerce platforms include BigCommerce and WooCommerce.
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How Much Are Resellers Making
So, youve decided you wanna learn how to make money from home through reselling. Great! You checked out the list and came across AIO Bot the epic all-in-one bot that does it all. It is one of the most reliable sneaker bot that is also available for sale! Youll soon find out that most sneaker bots in this industry are never in stock. Competitions definitely tough, though!
But, with the updates we regularly push, we make sure our users get their fair share of hyped releases. Our team is constantly working to improve AIO bots performance on Footsites, Shopify, and Demandware. Where Yeezys and Jordans go, AIO Bot goes too! It is the perfect bot to start your copping journey with. AND, you wouldnt have to sell your kidney for it either. Plus, with 500+ profit resellers make per drop, you might be looking at your new full-time job! If you wanna find out more, click on the button below!
A Growing Resale Business
According to a 2017 report by research firm NDP Group, the athletic footwear industry in America grew to $17.5 billion and the sneaker resale industry became a $1 billion market.While shoes made by companies like Nike and Adidas have been popular for decades, millennial buyers, celebrity and athlete interest have created an even greater demand.
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Selling Sneakers Online: What Kind Of Pictures/photos To Take
When learning how to make money online selling sneakers, many people overlook the importance of taking good pictures. Considering that most highly sought out sneakers cost a fortune, buyers will rely heavily on high-quality pictures to make a purchase decision.
After youve copped sneakers using proxies, you need to take pictures of them.
Here are some tips: