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?
Selling Shoes In A Store Has To Be Better Than Online
Back then, and still today, most clerks in shoe stores would just ask a guy’s size when he picked up a shoe. Our sales team always replied to the customer, “Let’s check that because one foot might be larger than the other.”
We did truly want to find the exact size:
Having understood why we measured everyone, the sales process was then to mentally match up the customers foot and what they said they were looking for before going to the stockroom.
That way, if the customer had limited options, the trainee could collect all of his choices at once, saving the customer time and maximizing the sales opportunities.
This sales strategy also kept trainees from a conversation about features and benefits on the sales floor about why a particular product was so well made or why it would fit a customers foot, only to go to the stockroom and discover there was no shoe in the customers size.
Your up would have been wasted…
After the customer decided on the original pair, he would invariably ask the salesperson, Whats in those boxes? This is much easier selling when they ask rather than you push.
How To Buy Jordans
If youre reading this, then you probably tried buying a pair of Jordans and found them out of stock. Went to the resale market and that same pair costs way above your paycheck? Well, weve got the solution for you! A sneaker bot like NSB would help you get the Jordans you want for retail. NSB supports many websites to give you higher chance at copping the pair you need. It also supports Supreme, making it the best all-in-one bot in the game!; Well get into the where later on though. But if you wanna buy sneakers off the resale market, you gotta be smart and know where to look.
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Are You Ready For The Rigors Of Selling Used Shoes
This post offers a great overview, but you will need more if youre getting into the game of buying and selling sneakers. If you want to learn from the true expert and get much more depth for how to make this business work for you, you dont need to start as a newbie.
Without a mentor, your chances of losing money and wasting time are higher since youre competing with the experts.
If youre ready to learn how to become a sneaker reseller, youre going to want a mentor to speed up the process.
How to Learn More About Reselling Shoes
I recommend taking a look at the Six Figure SneakerHead HypeMaster Playbook Here.
Use coupon code NICHEMONEY for an extra 10% off.
Reselling shoes is a fun way to make money as a part-time job, if not as a full-time one, and regardless of your age. If you are into basketball and hip-hop or if you have experience in flipping items before, then you are already a step ahead of other beginners in the game.
If youre looking for other ways to make some money, look at buying and selling concert tickets.
Peep The Best Sneaker Stores Online And In The World
The internet revolutionized and forever changed consumer behavior by giving;customers an easy, stress-free way to;browse and buy products;from the comfort of their own home. The same goes for buying sneakers. While there are certainly still those;old-school OGs that prefer going into physical stores to buy kicks, the;majority of people prefer to shop on sneaker sites.
With the retail world at your fingertips, it can be hard to decide exactly where to go.;Whereas previously shoppers were limited by geography, these days jumping from sneaker stores;such as;Overkill in Berlin to KM20 in Moscow can be done in a matter of seconds.
To help you wade through the long list of sneaker;sites out there, weve highlighted some of the best below, and what unique attributes each of the stores and sneakers websites has on deck.
SSENSE – The Online Sneaker Store With An Editorial Flow
Editors Notes:;SSENSE deals primarily in independent, luxury, and streetwear products, and is based in Montreal, Canada. It was founded in 2003 by three brothers: Rami, Bassel, and Firas Atallah. SSENSE offers shoppers a premium selection of more formal footwear, boots, and sandals, as well as the usual on-trend sneakers.
Luisaviaroma – A New Arrival with a Wealth of History
Highsnobiety Shop The Newcomer
Slam Jam Serving the Underground Since 1989
MR PORTER – The Cream of the Sneaker Websites Crop
Don’t Miss: Shoe Designer Atwood
The Pandemic Is Rewriting The Rules Of Retail
The challenges faced by brick-and-mortar retailers have accelerated at staggering speed in the wake of the Covid-19 pandemic and economic crisis. The latest data from McKinsey shows that consumers are likely to keep the behaviors theyve adopted amid stay-at-home orders. Retailers cant afford to be in a wait-and-see mode. They need to reimagine their baseline requirements and then turn their attention to taking their customer experience to the next level.
In these difficult times, weve made a number of our coronavirus articles free for all readers. To get all of HBRs content delivered to your inbox, sign up for the Daily Alert newsletter.
Retailers need to stop expecting business to return to normal.; Theres no going back to how it was anytime soon. Even before the Covid-19 pandemic and economic crisis, brick-and-mortar retailers had been fighting a fierce battle against Amazon and other e-commerce players. Those challenges have now accelerated at staggering speed.
The latest data from McKinsey shows that consumers are likely to keep the behaviors theyve adopted amid stay-at-home orders, such as more online shopping and fewer mall visits.; Retailers cant afford to be in a wait-and-see mode. First, they need to reimagine their baseline requirements and then turn their attention to taking their customer experience to the next level.
How To Avoid Common Sneaker Reselling Mistakes
While its important to be excited and have the energy to really jump into the sneaker resale game, sometimes you need to slow down. Jump on good deals. But any time you feel that something is off or theres a red flag listen to those instincts.
Even the top shoe reselling hustlers have been taken in by fake sneakers before. While in theory PayPal or other services have a money protection guarantee, getting your money back can be a hassle.
For anyone who has ever dealt with PayPal returns, its not a guarantee, either. If you get into a he said, she said argument with the seller of fake shoes a PayPal customer service rep is not the one you want making a final decision on hundreds of dollars.
Another common mistake, is not warning PayPal about a surge in transactions.
If theyre not used to seeing a lot of movement in your PayPal account, many transactions in the thousands of dollars for used sneakers could get the account flagged. This is a headache, but it is one you can work around.
If you have to upgrade to a business account, so be it. Better than losing out on deals. Or having your hard earned money frozen in the account.
Finally, have a plan for management.
Do you have a good bank roll and plan on buying a large number of authentic sneakers before selling? Are you planning to buy shoes and then flip them quickly? You need to know how much space you have, have a plan for tracking inventory as well as expenses and profits, and manage your process.
Also Check: Is Dhgate Legit For Shoes
Find A Business Mentor
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
What Are Some Skills And Experiences That Will Help You Build A Successful Shoe Store
Successful shoe store owners have a keen eye for marketing. Theyre also good at acquiring wholesale shoes at competitive prices. The;business;values of paying bills on time, following by a shoe brands rules and following industry regulations counts. From all angles, shoe selling can be a complex job to undertake.
Recommended Reading: Mold Inside Shoes
Aldo Uses Aws Appsync To Improve Shopping Experience Of Footwear Customers
More than 50,000 footwear shoppers walk into ALDO stores across North America and the UK every day. When they ask to try on a specific shoe model or size, a store associate uses a mobile app to quickly send a request to a backroom employee. That employee receives the request on a mobile phone, views an updated stock list, and retrieves the specific shoe before bringing it to the customerusually in under a minute. If the shoe is not in stock, the application recommends alternatives for the customer.
However, the mobile apps API and database layers used different technologies, and system outages sometimes resulted in application downtime and frustrated customers. We had customers requesting shoes and then the app would freeze because one of the APIs wasnt responding, says Kapies Vallipuram, director of software development at ALDO Group. That meant the customer would wait too long for shoes to come out, and in some cases the customer would just leave. Because we had multiple APIs, we didnt know which one was failing, so it took a while to fix the app in that store. We had to solve this problem because it was leading to lost sales opportunities.
Time is so valuable for consumers today. If they choose to give their time to us, we need to make sure we deliver the best possible experience. We can do that using AWS.”
Kapies Vallipuram, Director of Software Development, ALDO Group
How To Determine If The Shoes Are Fake
The last thing you want to happen is for you to purchase fake shoes mistakenly. This is a problem that pervades in online marketplaces without a middleman like Amazon or eBay. If the price is too good for its good, then maybe its a fake. But before making that conclusion, you need to learn how to find out if the sneakers are legit or not.
Below are ways that you can check if a pair of sneakers or shoes youre trying to buy is genuine or not:
Criteria to Determine if Shoes are Fakes
While these tips will help you avoid purchasing bogus shoes, its not foolproof that you will entirely avoid such purchases. Just make sure to ma careful and alert enough to keep these provisions in mind when buying.
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Why Sell Shoes Online
There is one great reason to sell shoes online: Theres money in it. Dont believe me? Consider the case of Beth Marbach, who made $4 million when she switched from selling books to selling shoes.;
Or how about Benjamin Kapelushnik, a 16-year-old who makes a killing selling sneakers. One woman even made a whole lot of money selling her old used shoes. There really is a market for everything if you know where to look and who wants to buy
Im not saying that everyone will make millions selling shoes online, but there is definitely a market here. The global footwear market is set to reach over 400 billion dollars by 2025;and consumers in the US alone are spending over $76;billion on shoes each year. Thats a big money-pie, so why not take a slice?
What Are The Best Shoes To Sell Online
Most people think of womens footwear when they think of shoes to sell online, but thats only one option.
Beth Marbach started out selling 90% womens shoes and 10% mens shoes when “Sex and the City” was in full swing, and Carrie Bradshaw started a craze for womens shoes. But after that, Beth noticed the mens luxury market grew, and by the end she was selling 90% mens shoes and only 10% womens shoes.;
Trends change, and its important to keep your finger on the pulse. Notice which shoes are selling well and stock up on those. Also, notice if the market is changing, and adjust what youre selling to fit. Its all about experimenting and finding whats most profitable for you as you go.
Heres a list of the main things to consider when deciding what shoes to sell:
Also Check: Where Are Yokest Shoes Made
Step : Plan Your Business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
Luckily we have done a lot of this research for you.
What are the costs involved in opening a shoe store?
A shoe stores startup costs can be hefty. Expect to pay about $10,000 in initial franchising fees. Grand opening marketing can cost about $5,000, and initial inventory can cost as much as $50,000 for a smaller shop.
A lot of these expenses are high because shoes can cost a lot of money. You should plan to have about $2,500 on hand for insurance startup costs. On the high end, a shoe stores overall costs can reach $200,000 when utility deposits, professional fees, computer systems, and business licenses are considered.
What are the ongoing expenses for a shoe store?
Expect to pay;about;$2,000 per month for rent. Monthly utilities will be about $300. As a shoe store owner, youll need to pay your employees between $8 and $20 per hour, depending on their position. If youve hired an IT team, expect to pay as much as $30 per hour for skilled labor. Additional costs include marketing fees, which cost about one percent of your yearly net sales and consistent inventory costswhich can be as much as $75,000 per year.
Who is the target market?
How does a shoe store make money?
How much can you charge customers?
How much profit can a shoe store make?
How can you make your business more profitable?
Resources To Help Women In Business
There are many resources out there specifically for women entrepreneurs. Weve gathered necessary and useful information to help you succeed both professionally and personally:
If youre a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
Read Also: How To Control Foot Odor In Shoes
What Are Some Insider Tips For Jump Starting A Shoe Store
Start;by being an independent seller. Working with other brands can be difficult for beginning shoe stores. If possible, enter into the e-commerce market. Your stores reputation will grow, too, if it isnt in an oversaturated area. If you face a lot of Big Box competition, enter the boutique market and offer special, high-price shoe selections.
Platforms To Flip Sneakers
There are several platforms to consider to flip sneakers for a profit. A platform is key to success. Just like investing, you want liquidity also known as a highly active market to ensure you are getting market price for your sneakers. Here are some of the best platforms to use to sell your shoes:
StockX is usually based on a bid/ask price. You can place your shoes for whatever price and the buyers can choose whether to accept it or not. Buyers can as well list their costs, and if the seller is comfortable selling the sneakers at a price, they close the deal. StockX has some of the best data, including present and historical prices and thus its a great tool to help you become an informed shoe seller.
Facebook and Instagram
Another platform to sell the sneakers through is the social media accounts. You can join your local Facebook buy and sell sneakers group. The different groups have their own rules, including listing a firm price or not being allowed to charge a crazy markup on the shoes. Someone will see your post if they want to buy your shoes and the group moderator deals with any issues that arise.
You can also post the sneakers in your accounts and hope that people see it and that you will find a good buyer. Post in your Instagram personal account too where buyers are searching for different sneaker related hashtags and users who buy and sell shoes. You should also set up a sneaker Instagram account.
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