Sneaker culture has exploded in popularity over the last decade, with limited edition sneakers selling for thousands of dollars. If you’re looking to get in on the action and start your own sneaker reselling business, you’ve come to the right place.
If you’re short on time, here’s a quick answer to your question: Find popular, limited release sneakers and buy them for retail price on release day using tactics like raffles and waiting in line at stores. Then resell them for a profit on sites like StockX and GOAT.
Pick Your Sneaker Niche
When starting your sneaker reselling journey, it is crucial to pick a niche that aligns with your interests and expertise. By focusing on a specific sneaker niche, you can establish yourself as an expert in that area and build a loyal customer base.
Here are some factors to consider when choosing your sneaker niche:
Focus on limited release sneakers
One approach to finding your niche is to focus on limited release sneakers. These are the highly sought-after sneakers that are released in limited quantities, creating a high demand among sneaker enthusiasts.
By targeting this niche, you can capitalize on the scarcity of these sneakers and potentially earn higher profits. Stay updated on the latest drops, collaborate with sneakerheads, and use social media platforms to find out about upcoming limited releases.
Consider sneaker genres like Jordan, Yeezy, Nike SB Dunks
Another way to narrow down your niche is to consider specific sneaker genres. Brands like Jordan, Yeezy, and Nike SB Dunks have a dedicated following and are known for their iconic designs. By specializing in a particular genre, you can develop a deep understanding of the market, identify trends, and cater to the preferences of your target audience.
Research the history and popularity of different sneaker genres to determine which one resonates with you.
Research upcoming releases
Staying ahead of the game is essential in the sneaker reselling business. Keep a close eye on upcoming releases from various brands to identify potential opportunities. Websites like Sneaker News and Sole Collector are great resources for staying updated on sneaker release dates, rumors, and market trends.
By researching upcoming releases, you can anticipate the demand for certain sneakers and make informed purchasing decisions.
Learn Where to Buy Sneakers
If you’re interested in starting a sneaker reselling business, one of the first steps is to learn where to buy sneakers. Here are some popular options:
Directly from brands like Nike and Adidas
One of the best ways to acquire sneakers for resale is to purchase them directly from well-known brands like Nike and Adidas. These brands often release limited edition sneakers that can be highly sought after by collectors and enthusiasts.
By buying directly from the brands, you can ensure the authenticity and quality of the sneakers you resell.
Third party retailers like Foot Locker
In addition to buying directly from brands, you can also source sneakers from third party retailers like Foot Locker. These retailers often have exclusive releases and collaborations with brands, making them a great resource for finding unique sneakers to resell.
Keep an eye on their release calendars and be ready to act fast when new sneakers drop.
Sneaker raffles and giveaways
Many sneaker brands and retailers hold raffles and giveaways for highly sought after releases. Participating in these raffles can be a great way to secure a pair of sneakers for resale. Keep an eye on social media accounts of brands and retailers, as they often announce raffles and giveaways there.
Waiting in line at sneaker shops for releases
For some highly anticipated sneaker releases, waiting in line at sneaker shops can be a tried and true method to secure a pair for resale. This can be a competitive process, as many resellers and enthusiasts will also be vying for the limited stock.
However, with some patience and determination, you can increase your chances of getting your hands on a pair.
Remember, it’s important to do your research and stay up to date with the latest sneaker releases and trends. By being aware of where to buy sneakers, you’ll be well on your way to starting a successful sneaker reselling business.
Master Sneaker Reselling Platforms
If you want to start sneaker reselling, it’s important to familiarize yourself with the top platforms in the industry. These platforms provide a marketplace where sellers can list their sneakers and buyers can purchase them. Here are some of the most popular sneaker reselling platforms:
StockX
StockX is one of the leading sneaker reselling platforms. It operates on a bid/ask model, similar to the stock market. Sellers list their sneakers for sale, and buyers place bids on the sneakers they want. Once a bid matches an ask, the transaction is completed.
StockX verifies the authenticity of every sneaker sold on their platform, ensuring that buyers receive genuine products.
GOAT
GOAT is another popular platform for sneaker reselling. It focuses on the authentication and curation of sneakers to ensure buyers receive high-quality products. Sellers list their sneakers on GOAT, and buyers can choose to purchase immediately or make an offer.
GOAT also offers a “Sell Now” feature, allowing sellers to sell their sneakers instantly at a set price.
Stadium Goods
Stadium Goods is a sneaker and streetwear marketplace known for its curated selection of products. They specialize in high-end and exclusive sneakers, making it a great platform for resellers looking to sell rare and limited-edition releases.
Stadium Goods has a team of experts that authenticate each product listed on their platform.
Flight Club
Flight Club is a well-established sneaker consignment store that also operates an online platform. They have a wide range of sneakers available for sale, including both new releases and vintage classics.
Flight Club is known for its extensive collection of Air Jordans, making it a go-to platform for sneaker enthusiasts.
eBay
eBay is a well-known online marketplace that allows individuals to buy and sell a variety of products, including sneakers. While eBay may not specialize in sneakers like the other platforms mentioned, it still offers a significant number of listings.
It’s important to do thorough research and vet the sellers on eBay to ensure you are buying authentic sneakers.
Mastering these sneaker reselling platforms will give you a solid foundation to start your sneaker reselling journey. Remember to always do your research, stay up-to-date on market trends, and build your reputation as a trustworthy seller. Happy reselling!
Price Sneakers Competitively
When it comes to starting a sneaker reselling business, one of the most crucial aspects is pricing your sneakers competitively. This will help you attract buyers, make sales, and ultimately, maximize your profits. Here are a few key considerations to keep in mind:
Research current market prices
Before setting a price for your sneakers, it’s important to research the current market prices for similar products. This will give you a better understanding of the demand and supply dynamics, as well as the average prices that buyers are willing to pay.
Websites like StockX, GOAT, and eBay can provide valuable insights into the current market trends and prices.
Factor in fees/shipping costs
When determining your selling price, it’s essential to factor in any fees or shipping costs associated with the transaction. Platforms like StockX and GOAT charge seller fees, and shipping costs can vary depending on the destination and the shipping method chosen.
By considering these costs upfront, you can ensure that your pricing is both competitive and profitable.
Consider setting higher prices for rare sneakers
If you have rare or highly sought-after sneakers in your inventory, it may be worth setting a higher price compared to more common models. Rare sneakers tend to have a higher demand, and collectors are often willing to pay a premium for them.
However, it’s crucial to strike the right balance – setting prices too high might deter potential buyers, while setting them too low could mean leaving money on the table.
Adjust prices over time if sneakers don’t sell
Even with thorough research and careful pricing, there may be instances where your sneakers don’t sell as quickly as anticipated. In such cases, it’s important to be flexible and consider adjusting your prices over time.
By monitoring market trends and making necessary adjustments, you can increase your chances of attracting buyers and making successful sales.
Remember, pricing your sneakers competitively is a key factor in the success of your sneaker reselling business. By staying informed, considering all costs, and being adaptable, you can position yourself for success in this exciting and ever-evolving market.
Market Your Sneaker Business
Create engaging social media accounts
One of the most effective ways to market your sneaker reselling business is through social media. Creating engaging and visually appealing accounts on platforms like Instagram, Twitter, and Facebook can help you reach a wide audience of potential customers.
Use high-quality photographs and videos to showcase your sneakers and highlight their unique features. According to a study by Statista, 78% of consumers say that a company’s social media posts influence their buying decisions. Use relevant hashtags, interact with your followers, and collaborate with influencers to increase your visibility and attract more customers.
Network with other sneakerheads
Building connections within the sneaker community can be invaluable for your reselling business. Attend sneaker conventions, join online forums and groups, and participate in sneaker-related events to meet other enthusiasts and potential customers.
By networking with other sneakerheads, you can gain insights into the latest trends, find out about upcoming releases, and even discover potential collaboration opportunities. These connections can help you expand your customer base and establish yourself as a trusted reseller in the sneaker community.
Provide great customer service
Excellent customer service is crucial for any business, including sneaker reselling. A study conducted by Zendesk found that 42% of consumers switch brands due to poor customer service. Respond promptly to inquiries, provide accurate information about the sneakers you’re selling, and ensure that your packaging and shipping processes are efficient and secure.
Going the extra mile to ensure customer satisfaction can lead to positive reviews, word-of-mouth referrals, and repeat business. Remember, happy customers are more likely to become loyal customers and recommend your business to others.
Consider creating a website
While social media is an effective marketing tool, having a dedicated website for your sneaker reselling business can give you more control and credibility. A website allows you to showcase your inventory, provide detailed product descriptions, and offer a seamless purchasing experience for your customers.
Additionally, a website can help you establish your brand identity and differentiate yourself from other resellers. According to a survey by Blue Corona, 70-80% of people research a company online before making a purchase. Make sure your website is user-friendly, mobile-responsive, and optimized for search engines to attract organic traffic and increase your online visibility.
Conclusion
Starting a successful sneaker reselling business takes passion, patience, research, and a bit of luck. But the effort can pay off hugely, letting you turn your love of sneakers into a profitable side hustle or even full-time career.
Follow the tips above to get started on the right foot in the exciting world of sneaker reselling.
