Sneakers are more than just a fashion statement. The kind of shoes you wear describes the kind of person you are. But how do sneaker resellers get so many shoes? Or how do they make tremendous income from reselling sneakers?
Currently, several entrepreneurs are generating an astronomical amount of cash from this business. It’s a provable way to overlook the work from home scams and get into the real ground-breaking business.
If you’re looking forward to starting your own sneaker reselling business, we’ve provided some of the most important things you might need to know. But we get started, let’s have a quick rundown at the sneaker reselling market.
Sneaker flipping is well among the proven ways of making money within a short period of time. In fact, the sneaker resale market is quite profitable in comparison to some other business.
One report showed that the global sneaker market was about $ 58 billion in 2018, which is further projected to grow at 7 percent between 2019 and 2022.
So Where Do Sneaker Resellers Get All These Shoes From?
For the most part, sneaker resellers get nearly all of their shoes online. This might involve the use of certain computer programs in an attempt to secure more sneakers. These programs virtually automate everything, trying to rapidly check out numerous pairs from websites before they actually sell out.
And they do so much faster than any man could. They are common among most resellers, though these computer programs aren’t outright fair as you’d probably expect. Programs available to the public are likely to be inferior to those used privately.
Also, sneakers resellers making the most money have connections with investors, industry insiders, elite hackers, and even access to private software that essentially gives them a monopoly over the supply.
After looking at what type of sneaker they want, what sizes, and where to buy them, substantial experience, tools, and blockbuster finding basically guarantee their success.
These people can get thousands right from their laptops, while others are probably camping out all night just to snag a pair or two- even with the said computer programs. Of course, it’s easy to feel sorry for them, but that’s how it works, apparently. In the end, when you get your hands on these shoes, it’s like winning a lottery ticket.
Another thing is that every release is different. Thus the point is to get as many as possible before they run out.
For instance, one reseller stated that they got about 100 pairs of the Off-White Air Jordan from last year’s release. A pair of these cost around $190, and they spent around $6,000 on the set up to make it an accomplishment.
He said that the sneaker was released exclusively in the EU, so the prices were very high. Less exclusive sneakers such as Yeezys may generate a profit margin of barely a couple of hundred dollars or so, but securing 1,000 pairs will easily make up for that.
Where Do They Sell The Sneakers?
This is probably the easiest thing about sneaker reselling. Sometime back, it used to be a different story. However, today there are well-driven marketplaces for sneakers such as GOAT, StockX, and Hypremium, enabling them to do almost everything from an app.
Now that Google has turned every thrift shop attendant into a sneaker devotee, you’ll rarely find a pair of vintage Air Jordans, for instance, in your local shop bargain bin. That means that for beginners, new releases are your go-to-goa.
This makes the whole process a breeze and ensures authenticity for both the seller and buyer. The apps essentially serve as a stock market for sneakers. It leads to pretty consistent resale prices, making reselling much easier than ever. For example, when you want to shift hundreds of thousands of pairs, you would simply sell them directly to a bulk buyer, which is still convenient.
How Much Does Sneaker Reseller Make?
For starters (and if you’re serious), you can easily make a few thousand a month considering it as a side job. It’s not a wonder that most people in this sneaker niche are college students who just resell casually and earn a decent income.
Moreover, sneakers are always on release, which you can make bucks on. And what’s even great is that when you buy an item that you can’t resell for some reason, you can simply return it for free. Nothing to lose, apparently.
You can also ideally buy multiple pairs, sit on them for a while, maybe months, and they’ll probably be worth even more. There’s always a handful of shoes throughout the year, which will certainly go for 5-10 times the retail price. Sometimes quite a lot more, going for 3-5 times markup.
However, there’s a catch. Some of the major sneaker companies might try to stop you. This could mortar stores or online websites. They are likely to set limits of one pair-per-individual on certain exclusive sneakers.
It’s more fun as some will even employ some of the most profound cybersecurity companies in the world to try and prevent resellers from purchasing online. And as we all know, in a case where profits are so abnormally high, it’s probably a cat-mouse game. But sneaker resellers always find a way around things.
Is Sneaker Reselling Legal?
As for now, it is legal. Of course, trends are coming around, which is nothing new to the magnitude crowd, but for some reason, the trends always pass by without making any impact. Before they get to actually making any money, it’s too late.
Opportunities appear that just can’t be ignored. And sneaker reselling is one of them. You might want to the advantage of it while you can. It’s from taking this advantage that sneaker resellers have unobtrusively been making massive income from a side hustle. It’s a huge market opportunity.