What Exactly Is A Sneaker Reseller
A sneaker reseller is someone who purchases brand new sneakers at retail price and then sells the product for a profit.
Sneakers are one of the most popular types of shoes on the market and resellers can make a lot of money by purchasing them at the right time.
Sneakers are one of the most popular types and resale is a good way for people to make money.
How One Hustler Makes $100000 A Year Flipping Sneakers
Bryson Honjo is a sneaker reseller, owner of United Hawaii and star of a prospering YouTube channel that teaches viewers how to start reselling shoes. Honjo started his journey in the sneaker business in 2016, and now makes anywhere between $50,000 and $100,000 per year.
I do attribute a lot of that to the fact that I have a social media presence, says Honjo, referencing the higher end of his potential income bracket in any given year.
He says that while his social media presence makes selling easier, its not a mandatory requirement to success in the sneaker resell game. He has seen resellers make up to $50,000 per year by posting inventory exclusively on reselling apps. No YouTube channel required.
How To Start Reselling Shoes For Profit
If you love shoes as much as me, maybe you have considered reselling shoes for profit.
And if you are one of those people who is obsessed with sneakers, then you may be interested in starting your own sneaker reselling business.
There are many benefits to this line of work including not having a boss and being able to set your own hours.
Read on for 4 steps that will help you get started with the right tips and strategies!
In this post, I will be sharing my tips on how to start reselling sneakers including:
- How to start a shoe flipping business
- What kinds of shoes to sell
- How much money do shoe resellers make
- Where to find shoes to sell
Also Check: How To Make Your Own Shoes From Scratch Online
Some Common And Costly Mistakes
Although I had done my research, I was still in over my head and had a lot to learn. After my biggest month, I made some preventable mistakes that nearly caused me to lose everything I had earned.
First, I ended up with some fakes and it was a mess trying to get my money back from the seller or PayPal.
Nicks Notes: As you might expect with shoes that sell for $1000, theres a thriving black market for counterfeit sneakers.
The other issue I ran into was with my PayPal account itself. They werent used to me taking in such large amounts of money per month, so PayPal put a hold on my money. Since I relied on reinvesting that income into more inventory, that hold took me several months to recover from.
I think I could have avoided that if Id warned them in advance that I would be taking in as much money in a month that I used to take in in a year, but then again I had no idea that I would make so much money so quickly!
Fortunately, I made a recovery and have gathered more knowledge than if it had been smooth sailing from the very start.
Diversify Your Product Line
Adding new products to your business is a great way to expand into new markets and grow your business.
It’s important to note that adding new products and diversifying may not be in the cards for you right this moment, and that’s okay. You can always consider it down the road.
Here are some reasons you may want to considering adding/diversifying your product
- Meeting the needs of your customers
- Establish yourself as a top provider in your industry and stay ahead of the game with competition
- Resistance to downturns/trends fading
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How To Become A Sneaker Reseller To Earn Extra Income
Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase or sign up through my links, at no cost to you. Please read my disclaimer for more info.
Sneaker resellers have quietly been making massive side hustle income as a result of taking advantage of a huge market opportunity. Here is how to become a sneaker reseller to make extra money.
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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Purchasing Inventory For Your Sneaker Reseller Business
When first starting out, it’s important to start small with your overhead to get a gauge for what people want.
Just remember – if you order a line of items that don’t sell, it’s nearly impossible to recoup the money lost.
Buying the right inventory takes research and planning in order to get it right.
Pro-tip: It’s easy to become biased based on your own fashion preferences on what types of shoes/apparel to purchase. This is where a lot of fashion businesses go wrong. It’s important to base purchase decisions on current buyer behavior, trends in the market, and specific to your niche.
Erin Hooley, founder of Bailey’s Blossoms tells us how poor inventory projections led her to lose over $2M
How To Start Buying Shoes Cheap
Before buying a low priced shoe, it would be prudent to establish its value. A critical evaluation is a decisive factor for your success.
This evaluation involves an initial understanding of the market and what drives these decisions. Consider the factors below to help you identify the right pairs of shoes to buy.
Why would anyone opt to buy used secondary kicks? The sweat and odor are enough to gross you out, right? Well, apparently, in the face of price, size, and availability, there are people ready to overlook the unsavouriness.
Beyond these seemingly implausible factors, there are some pretty convincing reasons for buying second-hand shoes.
- Limited editions & rarities: The designers release a few quantities to drive up the demand for these types of shoes. Theyre outstanding because of their brand-specific look.
Sneakers and sports slide sandals are at the fore-front and known as bonafide status symbols and viable investments. Popular brands are collaboration trainers like Air Jordan 3 Retro, Nike Travis Scott x Air Jordan 1, Yeezy shoes, among others.
Popular brands in this category are Ecco, Josef Stiebel, New Balance, and Naot, just to mention a few.
Secondary-use shoes are everywhere. From dumpsters, garage sales to thrift stores, and clearances.
Other robust sneaker markets that have opened up are in the Philippines, Malaysia, India, and China.
A brand name is not an automatic determinant of a high-seller.
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Sacai X Nike Vaporwaffle Dark Iris
- Retail Price: $180
- Release Date: Tuesday, April 27th, 2021
This release has all Nike and Sacai fans hyped and the best part is, you dont have to wait much longer.
Nylon construction is used this time around thats covered in an overall purple hue. Blue/white laces and dual tongues blend right in while the only contrast is provided by the crimson tongues on the lateral sides.
Suede and leather cover the forefoot and rears while white midsoles and black outsoles complete the design.
Currently, theyre selling for whopping price tags of over $1,000. Although that will more than likely fall when closer to the release date, you can still expect some very decent profits. Stay tuned for a more detailed look very soon!
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How To Build A Full
In this article, youll learn how to resell sneakers online for a nice profit, including several important facts such as: what the reseller niche is, how much that market is worth, and why you can actually make quite a bit of money with it. Youll also learn why buying wholesale resell rights is one of the best strategies to use today. Finally, Ill tell you how to find and buy wholesale dropshippers. By the time youve finished reading this article, youll know how to resell sneakers online for a nice profit.
The resell niche is growing very fast indeed, as more people are looking for new and different products to sell on eBay and other online marketplaces. Its also an excellent opportunity to get into if youre interested in making money online, or if you have experience selling products on eBay and other places. Just about anyone can start reselling products once they understand how the process works.
So, lets get started. First of all, there is nothing at all special or difficult about the process of reselling sneakers with the help of dropshipping services. In fact, its a simple as starting up a blog, getting some good reseller hosting service, setting up a product , and then posting your items for sale. In less than two days youll have a few buyers and should make close to a hundred dollars. Thats a pretty nice return on just a few hours of your time. Now lets move on to how you can start making money with resell sneakers.
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How To Deal With Scammers
- If the item is new, ask for the original purchase receipt or any proof of purchase.
- Only purchase from sites that have a return policy and can actively protect you from fraud.
- Ask for authentic photos. You could ask the seller to take a picture of the shoes while holding the days paper.
- When you ship, include tracking, signature required, and insurance.
- Trust your instincts. If your due diligence checks out, but your gut is still nagging, cancel the transaction.
With time, as you gain expertise, youll be quick to pick up deceptive vibes.
Pros Of Starting A Sneaker Reseller Business
Flexibility
You can put as much time into the business as you’d like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Scalable
With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Meaningful business connections
You never know who you will meet as a sneaker reseller business. This could be the start of an incredible business opportunity!
High customer retention rates
Once a customer invests in your product, they’ve invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Easy to encourage “impulse buy”
In the sneaker reseller business, you have a much higher chance of encouraging your customers to buy on impulse – you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.
Control of workload
With starting a sneaker reseller business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Unlimited income potential
Amazing perks and discounts
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How To Flip Shoes For Profit
The National Retail Federation says consumers are spending $161 this year on shoes. A new pair of kicks is one of the most frequently bought items especially during back-to-school and other key shopping holidays. Shoes are not only considered to be a fashion statement but collectible even. Some people purchase shoes to complete an outfit while others purchase shoes and sneakers to resell them and earn some cash on the side. Whatever the reason may be, learning how to flip shoes for profit is a great opportunity for aspiring entrepreneurs or those looking to expand their resale business.
In fact, the sneaker resale industry is set to become a $6 billion business globally by 2025. The value of resale in the sneaker business is directly related to the supply that gets put out by retailers like Nike and Adidas, among others. If there were enough shoes and sneakers to go around, there wouldnt be nearly as much competition when it comes to reselling. Shoes can also gain value over time if consumers can no longer find them on store shelves . Not to mention, the availability of certain sizes, brands, and colors.
In this post well take a deep dive into reselling shoes for a profit. We will go into more detail on:
- The shoe resale industry
- Where you can resell sneakers
- How to start reselling
- Shoe liquidation
The Best Way To Sell Shoes Open An Online Shop
If youre in a pinch and need cash quick, taking secondhand sneakers to a consignment shop might get you a little bit of dough. However, selling to a secondhand sellerwho needs to turn a profit of their ownis not the most lucrative way to go about reselling shoes.
The best way to resell shoes is to open up an online shop. This helps to keep costs low and opens up your sales to a nationalor even globalmarket. When youre first starting out, try using websites like Etsy and eBay so that you can tap into a ready-made market, rather than trying to build up traffic to your own website.
Recommended Reading: How Do Online Shoe Raffles Work
How To Buy & Sell The Most Expensive And Sought
Ever since the 70s, there are only two brands that mattered to most sneakerheads: Nike and Adidas.
Both brands have produced lines of sneakers and shoes for athletes and artists. Some of those lines have withstood time and exponentially increased their value since their release. Some brands have made waves and are poised to make one . However, if youre in the sneaker industry, you cant go wrong with these two brands.
Below are some of the more popular expensive shoes in the market pioneered by the two brands:
Most Popular Expensive Shoes to Resell
As mentioned, there are other up-and-comer brands with pairs of sneakers worth looking into. Thanks to Stephen Curry, Under Armours stock is rising. And while Big Baller Brand built their brand around hype , the $500 pair of kicks theyre selling is interesting to say very least.
That being said, when youre starting out with flipping sneakers and learning about the resale market for popular sneakers, you should stick with the most popular brands.
In the beginning, learning about the sneaker resale market, secondary markets, and spotting fake sneakers will take up plenty of time and energy. You dont need to be speculating until you get your sneaker game up to snuff!
Shoes To Buy: Best And Worst Returns
Lets say you have $100, and youre looking for a pair of shoes with a decent return on investment. Youre not going to be able to afford a pair of Nike Air Jordans, but there are other routes you can take.
Honjo says Jordan 1 Highs reliably turn a good profit, as do Adidas Ultraboosts. Either pair could potentially come in under $100 at retail. He recommends staying away from brands like Vans or Under Armour as they dont have the same resale value as a pair of Nike or Adidas shoes.
Adidas Yeezy is another incredibly popular shoe brand you might think would be great for resale. But Honjo says the market has become oversaturated, making the potential profit before overhead costs about $30 per pair.
However, if you hold onto your inventory for a while, Yeezys can become more valuable over time. Honjo estimates that if you hold onto a new pair of Yeezys for at least 12 months, you could see the sneaker resale profits creep up to anywhere from $60 to $100 per pair.
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