Sneaker reselling has become a lucrative business in recent years. With limited edition shoes selling out in minutes and resale prices often doubling or tripling retail, it’s no surprise more people want to get in on the action.
If you’re short on time, here’s a quick answer to your question: the keys to becoming a successful shoe reseller are understanding the sneaker market, sourcing shoes for low prices, properly authenticating shoes, cleaning/restoring shoes, photographing shoes, listing shoes for sale on sites like eBay and StockX, providing great customer service, and scaling your business once you gain experience.
In this comprehensive guide, we’ll cover everything you need to know to start reselling shoes as a side business or even full-time gig.
Understand the Sneaker Resale Market
To become a successful shoe reseller, it is crucial to have a deep understanding of the sneaker resale market. This knowledge will help you make informed decisions and maximize your profits. Here are some key aspects to consider:
Know what’s popular and hyped
Stay up to date with the latest sneaker trends and know what styles are currently popular and hyped. This information will help you determine which shoes are in high demand, allowing you to prioritize your inventory.
Websites like Hypebeast and Sole Collector can provide valuable insights into the sneaker culture and help you identify upcoming releases.
Follow shoe releases and market trends
Keep a close eye on shoe releases and market trends to identify potential opportunities. By knowing when new releases are coming, you can plan your purchases strategically and ensure that you have the latest and most sought-after sneakers in your inventory.
Websites like Nike.com and Adidas.com provide release calendars and information on upcoming drops.
Research current shoe prices
Regularly research and monitor the current prices of popular sneakers in the resale market. Understanding the market value of different shoes will help you set competitive prices and negotiate profitable deals.
Websites like StockX and GOAT offer real-time data on sneaker prices, including historical sales, allowing you to make informed pricing decisions.
Source Shoes at Low Prices
When it comes to becoming a successful shoe reseller, one of the most important aspects is sourcing shoes at low prices. This allows resellers to maximize their profits and offer competitive prices to their customers. Here are some effective strategies to help you find shoes at affordable prices:
Buy at retail stores during releases
One way to source shoes at low prices is by purchasing them directly from retail stores during release events. Brands often introduce new shoe models, and there is always a high demand during these releases.
By being one of the first in line, you have the opportunity to buy shoes at their retail price before their value increases on the resale market. Make sure to stay updated on release dates and be prepared to wait in line or use online platforms to secure your purchase.
Find deals at outlets and discount stores
Outlet stores and discount stores can be treasure troves for resellers looking for shoes at lower prices. These stores often carry excess inventory or past season models at discounted rates. Keep an eye out for clearance sales, holiday promotions, or end-of-season deals.
You might be surprised to find high-quality shoes at significantly reduced prices. Visit these stores regularly and be patient to find the best deals.
Buy used shoes on sites like eBay or GOAT
Another option to consider is buying used shoes from reputable online platforms like eBay or GOAT. Many sneaker enthusiasts take great care of their shoes and are willing to sell them at reasonable prices.
You can often find lightly worn or even brand-new shoes at a fraction of their original retail price. However, it is essential to carefully evaluate the condition and authenticity of the shoes before making a purchase. Look for sellers with positive reviews and detailed product descriptions.
Build relationships with sellers
Building strong relationships with sellers can be a game-changer in the shoe reselling business. By establishing trust and rapport with individuals who have access to shoes at low prices, you can secure exclusive deals and gain access to limited-edition releases.
Attend sneaker conventions, trade shows, and connect with other resellers online through forums or social media groups. Networking with sellers can open up new opportunities to source shoes at competitive prices.
Remember, sourcing shoes at low prices is just the first step. To be a successful shoe reseller, it is crucial to stay informed about trends, market demands, and pricing strategies. Continuously educate yourself and adapt to the ever-changing landscape of the sneaker market to thrive in this industry.
Authenticate and Clean Shoes
When it comes to reselling shoes, one of the most important steps is to authenticate them. With the rise of counterfeit products, it’s crucial to carefully verify the authenticity of the shoes you plan to resell.
This will not only protect your reputation as a reseller but also ensure that your customers are getting genuine products.
Verify authenticity carefully
There are various methods to authenticate shoes, depending on the brand and model. One common approach is to compare the details of the shoes with official product images and specifications provided by the manufacturer. Look for any inconsistencies or discrepancies that might indicate a counterfeit.
Additionally, you can also check for unique identifiers, such as serial numbers or holograms, that are often present on genuine shoes.
If you’re unsure about the authenticity of a pair of shoes, it’s always a good idea to seek expert opinions or consult reliable online resources. Websites like Authenticate First specialize in authenticating designer products and can provide valuable insights.
Use restoration products to clean shoes
Once you have verified the authenticity of the shoes, it’s time to make them look their best. Cleaning and restoring shoes can significantly increase their resale value. There are various restoration products available in the market that can help you achieve this.
Invest in high-quality shoe cleaning kits that include specialized brushes, solutions, and creams. These products are designed to remove dirt, stains, and scuffs from different types of materials, including leather, suede, and fabric.
Follow the instructions provided with the cleaning kit to ensure proper usage and avoid damaging the shoes.
Make shoes look as close to new as possible
To maximize the appeal of the shoes to potential buyers, it’s important to make them look as close to new as possible. Apart from cleaning, consider investing in additional restoration techniques such as polishing, deodorizing, and reconditioning.
Polishing the shoes can help restore shine and luster to leather surfaces, while deodorizing products can eliminate any unpleasant odors. Reconditioning creams or oils can be used to moisturize and restore the suppleness of leather shoes, keeping them looking fresh and reducing the appearance of cracks or creases.
Remember, the better the condition of the shoes, the higher the likelihood of selling them at a premium price. Take the time to thoroughly clean and restore the shoes, paying attention to the details, and you’ll increase your chances of success as a shoe reseller.
Photograph and List Shoes for Sale
Take high-quality photos showing all angles
When it comes to selling shoes, a picture is worth a thousand words. To attract potential buyers, it’s crucial to take high-quality photos that showcase the shoes from all angles. Use a good camera or smartphone with a high-resolution camera to capture clear and detailed images.
Make sure to capture the front, back, sides, and soles of the shoes, as well as any unique features or branding. Lighting is also important – natural light or a well-lit room can help bring out the true colors of the shoes.
Remember, the better the photos, the more likely you are to catch the eye of potential buyers.
Write detailed listing descriptions
When listing your shoes for sale, it’s important to provide potential buyers with as much information as possible. Write detailed listing descriptions that accurately describe the shoes, including their brand, model, size, condition, and any special features.
Be honest about any wear and tear or flaws to build trust with potential buyers. Additionally, consider including information about the shoes’ original price, rarity, or any other selling points that could make them more attractive to buyers.
A well-written and informative listing description can help you stand out from other sellers and increase your chances of making a sale.
Sell on platforms like eBay, StockX, GOAT
When it comes to selling shoes, there are various online platforms you can use to reach a wider audience. Platforms like eBay, StockX, and GOAT have gained popularity among shoe resellers due to their large user bases and trusted reputation.
eBay allows you to list shoes for sale in an auction-style or fixed-price format, while StockX and GOAT specialize in authenticating and selling sneakers. Each platform has its own pros and cons, so it’s worth considering which one aligns best with your selling goals and target market.
Whichever platform you choose, be sure to familiarize yourself with its policies and fees to ensure a smooth selling experience.
Provide Excellent Customer Service
One of the key factors in becoming a successful shoe reseller is providing excellent customer service. This means going above and beyond to ensure that your customers are satisfied with their purchase and overall experience.
By prioritizing customer service, you can build a loyal customer base and increase your chances of repeat business. Here are some tips to provide excellent customer service as a shoe reseller:
Respond to questions and concerns quickly
When customers reach out to you with questions or concerns, it’s important to respond to them in a timely manner. Promptly answering their inquiries not only shows that you value their business, but it also helps to establish trust and credibility.
By providing quick and helpful responses, you can address any concerns and provide the necessary information to make their buying decision easier.
Ship shoes fast with tracking number
Another aspect of excellent customer service is ensuring that the shoes are shipped promptly and with a tracking number. Customers appreciate receiving their purchases in a timely manner, and being able to track their shipment gives them peace of mind.
This is especially important when selling online, as customers may be hesitant to make a purchase if the shipping process is unclear or unreliable. By offering fast shipping with a tracking number, you can enhance the overall customer experience and increase customer satisfaction.
Follow up to ensure satisfaction
After the shoes have been delivered, it’s a good practice to follow up with the customer to ensure their satisfaction. This can be done through a personalized email or message, expressing your gratitude for their purchase and asking if they have any feedback or further questions.
By taking the time to follow up, you show that you care about your customers’ experience and are willing to address any concerns or issues that may arise. This can help to build trust and loyalty, and may even lead to positive reviews or word-of-mouth referrals.
Remember, providing excellent customer service is not only about addressing specific concerns or questions, but also about creating a positive and memorable experience for your customers. By going the extra mile, you can differentiate yourself from competitors and establish a reputation as a reliable and customer-centric shoe reseller.
Scale and Grow Your Reselling Business
Reinvest profits to grow inventory
One of the key strategies to scale and grow your shoe reselling business is to reinvest your profits into expanding your inventory. As you make successful sales, make sure to set aside a portion of your earnings to purchase more shoes.
By constantly replenishing your stock, you can keep up with customer demands and cater to a wider range of preferences.
Research popular shoe brands and styles that are in high demand. Look for opportunities to purchase shoes at a discounted price, such as through wholesale suppliers or during clearance sales. By finding deals and negotiating favorable prices, you can maximize your profit margins and acquire more inventory to resell.
Additionally, consider diversifying your inventory by offering different types of shoes or accessories. This can help attract a broader customer base and increase your chances of making sales. Stay up to date with the latest shoe trends and fashion preferences to ensure that you are stocking items that are in demand.
Build an Instagram following
Social media platforms, such as Instagram, can be powerful tools for growing your shoe reselling business. Create a dedicated Instagram account for your business and regularly post high-quality photos of the shoes you have available for sale.
Use relevant hashtags to increase visibility and attract potential customers.
Engage with your followers by responding to comments and direct messages promptly. Offer personalized recommendations and provide excellent customer service to build trust and loyalty. Consider collaborating with influencers or partnering with other businesses in the fashion industry to expand your reach and gain exposure to new audiences.
Share behind-the-scenes content, such as videos of unboxing new inventory or showcasing the process of cleaning and restoring shoes. This can give your followers a glimpse into the effort and care you put into your business, further enhancing your credibility as a shoe reseller.
Get business licenses and tax IDs
As your shoe reselling business grows, it is important to ensure that you are operating legally and ethically. Obtaining the necessary business licenses and tax IDs is crucial to protect yourself and your customers.
Check with your local government authorities to determine the specific licenses and permits required for reselling shoes in your area.
Registering your business and obtaining a tax ID will allow you to report your earnings accurately and comply with tax regulations. This will help you avoid any legal issues and maintain a positive reputation within the reselling community.
It is also essential to keep accurate records of your sales, expenses, and profits. This will make it easier to track your business performance, file taxes, and make informed decisions about future investments.
For further information and guidance on legal requirements and best practices for running a reselling business, you can visit the official government websites such as www.sba.gov or consult with a legal professional.
Conclusion
Becoming a successful sneaker reseller takes knowledge, hustle, and continued learning. But the effort can pay off handsomely if you’re strategic. There’s money to be made buying and selling shoes, especially rare and exclusive models.
Use this guide to get started reselling shoes, grow your side business, and tap into the billion dollar sneaker resale market.
