How To Start Reselling Shoes And Make Some Serious Money
Looking for ways to make money remotely? How about a socially-distant side hustle that could turn into a full-time business?
You might want to consider reselling sneakers. Not used sneakers from the dark reaches of your closet but new or gently used shoes that you buy for a bargain and then sell for more using handy apps. During the pandemic, demand in the sneaker market hasnt gone down. Instead, almost everything has moved online, making it ideal for aspiring entrepreneurs who want to make money with a potentially lucrative side hustle.
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.
Reselling Shoes: How I Make $10000 A Month Flipping Sneakers
This post may contain affiliate links. Please read my disclosure for more info.
This contribution comes from JV Ortiz, who found side hustle success in the world of buying and selling sneakers. Hes been at this business for two years and actually quit his job to pursue this venture full-time.
JV lives in Brooklyn, New York and when hes not out hunting for shoe deals you can find him running, surfing, and working on self development.
At his site, SixFigureSneakerhead.com, hes written a 100-page guide on how to break into the sneaker flipping game. You can use code SIDEHUSTLENATION to take 40% off.
Take it away, JV!
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How Much Can You Make By Becoming A Reseller
The amount you can earn depends on how you resell, what you resell, and how much time and effort you put into your business. For used merchandise stores, the average annual revenue per worker has grown to $120,000. For individuals using an online platform such as eBay, Poshmark, or TheRealReal, earnings vary greatly. Some users pull in six figures, while others make a little extra cash each month selling used items.
Maximizing your earnings begins with choosing the right items to resell, whether youre collecting items from Craigslist or cleaning out your closet. For example, ThredUp estimates that youll earn only about $0.55 for a pair of Old Navy jeans, but a used Gucci handbag could earn you a payout of $286.84.
The good news is, reselling is a totally flexible opportunity, so you can determine how much time, effort, and money you devote to growing your business. It can be a great fit for many different lifestyles and financial goals, whether youre looking to turn your old stuff into extra cash or flip enough valuable items to be able to quit your day job.
Whats The Best Way To Resell Your Sneakers A Definitive Guide
Big money can be made if you land the right sneaker or sell a ton of pairs. But whats the best way to flip your inventory?
There are many ways to resell your shoes. You can flip them hand-to-hand to people you know, drop them off at big consignment retailers such as Flight Club or Stadium Goods, list them on eBay, or sell them through websites such as StockX and apps like GOAT.
But you need to be mindful of a lot when youre reselling your shoes. What are the fees? How long will it take to sell the sneakers or get paid? How will you get paid? How much effort do you need to put in on your end? Will anyone save you if you get scammed?
To break it down, here is a roundup of the most popular sites, stores, and ways to resell your shoes. We want you to be informed, so weve taken the who, what, where, when, and whys into consideration and presented it here so you can make up your own mind. Here are the pros and cons:
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The Kind Of Shoes That Are The Best Sellers
Contrary to popular belief, the best sellers are not the fancy high heel high fashion stilettos shown in magazines or on internet ads, or athletic shoes endorsed by the latest sports celebrity. The most consistent sellers are practical shoes. Also known as ugly shoes.
Why? Because the largest generation of humans, Baby Boomers, are aging and either already have, or are starting to have foot problems. This has created a demand for comfort or orthotic shoes. More and more Boomers are diagnosed with Diabetes every day, which affects circulation and can cause neuropathy in feet, and this sometimes calls for special shoes.
Furthermore, comfort and orthotic shoes are not cheap. Some sell for over $200 retail. Couple that with senior citizens on a fixed income and relying on Medicare , Boomers look to eBay to find what they need for comfort and function, rather than paying full retail. Some of the most profitable brands to sell include:
- SAS Tripad Sandals
While resellers can flip virtually any shoe for a profit, the key to a successful shoe reselling business is knowing what brands, styles, and colors are trending. As the Baby Boomer generation continues to age and experience foot problems, comfort and orthotic shoes will grow in demand in the resale market.
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.
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Adidas Human Race Nmd Pharrell X Chanel
The collaboration was done exclusively for Colette, a shop in Paris described by some as as the trendiest store in the world. It closed about a year-and-a-half ago, Morrison says. Now the price tag makes a little more sense. Sells for: £6,000-£10,000
Kanyes final collaboration with Nike is ludicrously in-demand. Its almost like people have forgotten he made them, because he moved to Adidas soon after, says Raichura. I actually sold a pair myself, for £6,000, which is crazy. Sells for: £4,500-£6,000
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
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Selling In Person Ways To Stay Safe
Sellers are required to meet in public, well lit locations.
The best place is a restaurant or cafe because its private and people cant steal your shoes.
Its also important to remember that someone has the opportunity to rob you so make sure youre meeting at a safe location during day time hours.
Find an FB group about sneakers and post the price of your shoes for sale theremake sure they allow buying and selling!
Make Money Reselling Sneakers
This website contains affiliate links, which means I earn money from products and services you purchase through my links.
About Me & My Website!
I started my first internet business in 2010 for the simple reason that I hated getting up early in the morning to go to work. I never had enough time for a second cup of coffee!
Ten years later, Im helping other people plug into the same methods I use to make money online with affiliate websites. Theres a vast world of opportunities online, and I want to show you how to access it!
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How Do You Start Sneaker Reselling
Not with your trusty Chuck Taylors, unfortunately. Or even your Balenciaga Triple S. If you want to get your head around the world of reselling sneakers, you need to know about limited releases thats when the big trainer companies only release a select number of their newest, most hyped sneakers .
Collectors know the biggest sneaker trends, join mailing lists, download apps and queue up at sneaker stores. Those who manage to blag themselves a pair will either keep them to wear, sell them immediately, or keep them in mint condition, often with an eye to selling at a later date when their value has increased exponentially.
The people who resell in-demand models immediately will often do so for a 200-300 per cent markup theyll buy them for £150-£200, and sell them for £400 or more. But then there are the resellers who hold onto or, if theyre lucky, come across an older limited release .
In this instance, fewer unworn pairs exist, meaning the resale price only goes up. Simple economics. These second-hand shoes will sell for more than second-hand cars.
If all of that sounds like nonsense, heres some good news: you dont actually have to be a sneakerhead to make it big in the game. Shoes are seen as a commodity now, says Crepe City founder Ron Raichura. Youve got people who used to be ticket touts buying shoes, because the market is so big.
How To Get Extra $5 To $50 Daily Whether You Sell Your Shoes Or Not
Firstly, while looking for the best places to sell your shoes, if you would like a very easy way of making an extra $5 to $50 daily while working in your own spare time and from any location, . You can get paid this much just for sharing your thoughts and opinions.
The company is partnered with this very site, Kingged.com. They are 100% legit and have paid out millions of dollars to millions of other participants over the years, just for sharing their thoughts and opinions. And there are no right or wrong answers when sharing your thoughts and opinions with this company. They still pay you, regardless.
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The Shoe Reselling Industry
Forbes estimates that the resale market for sneakers is estimated to be over $1 billion annually.
Nicks Notes: By carefully and expertly hyping each new product launch, the manufacturers cater to loyal fans and strategically never quite make enough to fully satisfy the demand. Its that constant shortfall on the supply side that fuels the resale market.
This is also trend that doesnt appear to be slowing anytime soon. That same Forbes article notes that the international sneaker market is up 40% since 2004.
Even though only an estimated 4% of sneakers end up being purchased for immediate resale, the market has attracted side hustlers and entrepreneurs. At the top of the heap, some resellers are moving more than $2 million in inventory a year.
Get Started Reselling Shoes
The mechanics of making money in this niche are fairly simple, but that doesnt necessarily mean its easy. You cant come in with zero knowledge of the industry. To get started, youll need to learn about the product, how youll make money and how to anticipate overhead costs.
Heres how the sneaker resale market works in a nutshell:
Sneakers are released in limited quantities. As a sneaker reseller, you can purchase shoes brand new direct from retailers or manufacturers at retail prices. Like-new and gently-used shoes can be thrifted or purchased on any number of apps. You might also be able to use these apps to find a good deal from another reseller on whats known as the aftermarket.
After youve built your inventory, you sell your shoes directly to consumers at a markup.
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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 Do I Resell My Items
The best place for reselling will depend on the items youve chosen to resell. But even then, your options will run from the virtual to the traditional storefront. Here are some of the popular options you have for reselling:
Different stores and sites are better suited for some kinds of items than others. For example, fashion reselling will be more successful on Poshmark than Amazon, while electronics reselling is better for eBay than an antique store.
Also note that these various platforms have different fees and commission structures that might influence your decision on where to sell. It may take some exploration of a few different apps, sites, and stores available to you to find the best spot to resell your items.
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Choose The Right Platform To Sell Your Sneakers
There are plenty of platforms that allow you to sell sneakers. You can create your seller account on different platforms. Thus you will get profit from selling across every single platform. Moreover, you will come to know about the best platform to sell.
Before finalizing a platform, dont forget to weigh factors like fee, how long will it take to sell the shoes or get paid, how you will get paid, and more.
You may also consider starting a blog where you can sell your sneakers directly. Blogging is more comfortable and straightforward than various selling platforms available.
Dont forget the flipping sneaker is all about collecting your margin quickly. However, for that, you dont need to hold onto a lot of shoes at one time. Try to predict the market and make a decision accordingly.
Some of the popular platforms that you may consider to sell sneakers include:
StockX is a popular Detroit-based eCommerce platform founded by Dan Gilbert and co-partners Josh Luber and Greg Schwartz in 2015. The platform emphasis on the sneaker resale market and works on the bid-based model.
On StockX, you place your shoes for whatever price you want, and its entirely on buyers whether to accept it or not.
Buyers are allowed to list their costs as well, and if the seller is comfortable selling their sneakers at that price, they close the deal.
Note: The store holds the right to refuse any sneaker.
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