According to financial studies, we can expect the sneaker market size to reach $95.14 billion by 2025. But not every sneakerhead is in it for the same reason. While some are fond of flexing their kicks, others are interested in reselling them. The sneaker reselling market is valued at $1.2 billion according to Forbes. Studies expect it to grow further as more and more people are getting into the sneaker reselling business. Although the market hit a snag in 2020, it was extremely tiny and recovered pretty quickly.
The Sneaker Reselling Business Isn’t for Everyone
For real, we’re not even trying to drive you away. But to be a sneaker reseller, you need to have some assets. So if you’re one of the following people, then you should totally start a sneaker reselling business!
A Sneaker Collector and Sneakerhead
If you’re a sneaker lover or even have a sneaker obsession, you can sell sneakers online. You would already have a precise idea about the sneaker brands and kicks you will resell. You’ll also be up to date regarding upcoming releases. And let’s be real now, sneakerheads have an excellent sense of fashion. So they’ll automatically know what kicks will be bomb and which won’t be.
Looking for Some Side Money?
Sneaker reselling is a business providing cash flow in the long run. To cut to the chase, there are a couple of sneakerheads who actually make six figures selling shoes these days. And some of them even become controversial on their way. So making sneaker resale your side hustle in these hard times is a pretty good idea!
If You Have Low Time Commitment
Being a reseller doesn’t mean you’ll spend lots of time in front of your screen. Once you know where to sell your kicks, you just make a listing and leave it! It’s very easy to keep tabs on everything even from your phone. And the more experience you have, the easier it gets. You can also save some time by joining exclusive sneakerhead groups and cookgroups on Discord and other platforms.
Entrepreneurial mindset to Start A Sneaker Reselling Business
If you have an entrepreneurial mind, into e-commerce, or a business enthusiast, then selling sneakers online is not such a bad idea. There are many sneakerheads who have been in the business for years and are capable of advising you when needed.
Already Own a Different Reselling Business
If so, then you already know how to market and how to make people trust you. Moreover, you already have your own name and client base that way. And word of mouth was and will probably always be the best advertisement!
Sneaker Reselling Business Requires Patience
You need to have the ability to sleep on a pair. Some resellers bought Dunks when they weren’t in the hype zone, they kept them and slept on them. And suddenly, BAM! Dunks are all the hype and you can sell some of the older stuff for thousands of dollars. So they weren’t lying when they said that patience is a virtue. But you gotta have the common sense that goes with patience. Otherwise, the kicks will end up being bricks and you selling for little to no profit.
Sneaker Reselling Business Golden Rules
Buy Low & Sell High
That’s the general rule, but it wouldn’t work unless you cop at retail for a low price. Only then, you can resell for a higher bidding resale price and get the best profit possible. And if you’re a sneakerhead, then you already know that this can’t happen without a powerful sneaker bot.
According to Forbes, the use of sneaker bots improved the sneaker resale industry. Everyday, more people are using bots to buy sneakers and sell them online. It’s crazy how people wait in line for hours and spend thousands of dollars just to get their hands on exclusive kicks. Well, sometimes it even led to sneaker violence!
It’s getting harder and harder to cop manually both online and in stores. That’s because companies like Nike and Adidas are applying a lottery system on limited edition sneakers. So, you need to be lucky to cop successfully! And here’s a starter guide that would get you on the right track for your future sneaker reselling business.
Begin Slowly With the Sneaker Reselling Business
Since you’re new to the business, start with lower financial risk and cop a couple of pairs. You can make a moderate profit out of them just so you get the hang of it. Upside is, you’ll get to know potential buyers, and they get to know you better! Once you know what you’re doing and you have a steady reputation, then you can scale up your business. You’ll also reach a level where it gets easier, more consistent, and more profitable.
Start Your Sneaker Reselling Business Today!
Although we gave you some pointers, it’s not as easy as it sounds. But if you’re one of the people we mentioned here, then you have what it takes to make it! With the right amount of commitment, sneaker reselling will be a rewarding business for you fam.
Finally, we recommend you get to know more about the business and follow sneakerhead groups and pages. You can do that on Twitter and Instagram so you’d have an idea about your potential market. And make sure you follow our blog for the latest sneaker news!
