I continue to wear my shoes with holes in them. I can’t remember the last time I paid over $100 for a pair of shoes. However, in today’s day in age, there are hundreds (if not thousands) of people paying top dollar for pairs of shoes. I’m a fan of taking advantage of opportunities when they become available and there’s no better place than flipping sneakers at the moment. In order to invest at a faster rate, I need to continually find ways to increase my income and cash flow.
Flipping sneakers is one of the most lucrative ventures today. If you land the right sneakers and resell a pair of them, you can make tons of money. This blog is a good guide on how to become a sneaker reseller and make money flipping sneakers. You can buy certain sneakers are retail price and sell them on a secondary market for sometimes 2-3x retail price.
Here are several other money management tips that you should learn to increase your income.
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:
- 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 doesn’t 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 you’ll organically grow.
- 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.
Then, instead of lining up in the store for hours to buy them, you can quickly place your orders on Frenzy, a Shopify-owned app. The app will notify you of the release dates of the latest sneakers from the biggest brands. Then, you can place your orders in bulk. To make money flipping the new sneakers, you need to find pairs sold under reseller price so you can profit off them.
Also, I suggest you specialize in a particular brand like Air Jordan or Yeezy. This helps you stay familiar with new releases, vintages and more.
- Choose the right platform to sell your sneakers
There are numerous places to resell your sneakers. Sneakers reselling can be compared to the stock market. Some pairs of shoes don’t start out too hot, but they eventually accumulate value later on. Conversely, other sneakers can generate lots of buzzes only to fizzle out as time pass by.
It’s crucial to have seller accounts on all or different platforms, so you can profit from selling across every single platform and knowing the best one to sell on. However, you need to weigh a number of factors such as the fees, How long will it can take to sell the sneakers or to get paid, How you will get paid, the amount of effort that you need to put in on your end, can anyone save you if you get scammed among others factors.
If you amass a collection, you can always start a blog that includes your sneakers for sale directly. There is no better time to start a blog than now. It is easier and more straightforward than ever before.
However, flipping sneakers is all about collecting your margin quickly. For me, I don’t want to hold onto a lot of shoes at one time. You never know when the market can turn on you. You have to make hay when the sun is shining.
The Kick Kave 