Reselling sneakers is a billion-dollar industry. But is it right for you? Here’s a basic overview that will introduce you to this exciting enterprise that can earn you some major cash.
How to Get Started in the Sneaker Resale Business
The world of sneaker reselling is filled with nuances, ebbs, flows, and ever-changing technological trends. Far more than just knowing what size of shoes to buy or a brand’s newest spokesperson, this field is incredibly fast-paced and not for the faint of heart. You always have to stay a few steps ahead to maximize your potential.
There’s a staggering amount of detail you need to understand about this culture. Yet it can prove to be a highly profitable side hustle or even a main gig once you know how to play the game.
Knowledge is Power
Before purchasing your first bit of inventory, follow this advice: learn before doing. You must have a working knowledge of what you’re getting into for this type of market. Study terminology, pricing, trends, history, and all things sneaker-related. You need to know the ins and outs before you can expect to find success.
Listen to Advice
There are many books and online resources to get you started. But it’s always best to learn from the pros. Cook groups are a great place to begin if you’re willing to interact within a community. In them, you’ll find experts who will teach you and share information, tips, leads, and more. It’s crucial to join a few, not just one, and do it sooner rather than later.
Many cost a few dollars, and they often have a waiting list. But for those who have made a career out of reselling sneakers, they’ll tell you that becoming a part of a few cook groups is an investment that’s well worth the time and money.
Learn the Ropes
Those in the business liken the sneakerhead enterprise to the stock market: some drops take a while to gain maximum profit, others fizzle out and fall short of what’s expected, and many times things are unpredictable. Technology helps, though, and sites like StockX can show you evolution, trends, and forecasts. Nevertheless, there are always some hangups that can occur, like fake products. Go with your gut: if something seems too good to be true, then it probably is.
Make Your Moves
Once you feel you’ve done an adequate amount of research on your own or your cook group has presented you with enough of a solid starting point, it’s time to begin acquiring your stock. It’s totally unnecessary to go overboard when you’re new to the playing field. Instead, try copping only a pair or two at a time to resell through the methods you find most favorable. Then, hook them up online on the sites of your choosing.
This information might be useful to help you reach the widest audience who will provide you with the profit you need to score your next piece of inventory. Continue this cycle, tweaking it while figuring out what works best for you.
Don’t Give Up
Just because you haven’t made money your first week or two doesn’t mean you need to give up hope. Keep trying! Maybe sniff out different outlets for selling, or hone in on a concentrated area of customers interested in a specific type of shoe. Take skateboarders, for example. They’re looking for specific sneakers, so focus on those in particular. Using a Supreme proxy will do wonders for this category.
That’s a Wrap
This is just a general summary of sneaker reselling. If you think this is the hustle for you, follow these tips and start small. Use these humble beginnings to make it big in the reselling world. Best of luck!