Market research company, Grand View Research, expect sales of athletic footwear to reach a staggering 95.14 dollars by 2025. Among the drivers of the 5.1% annual growth rate are global sporting events. Sports events like the Wimbledon Tennis Championships, the FIFA World Cup and the Olympics could help you resell sneakers.
Are you looking to make some quick cash? Read on to learn about reselling sneakers online for a profit.
You Can Do Reselling
You might be reading this and thinking that making money from sneakers is just for the big guys. Nike and Adidas may be able to make money in the athletic wear business. You’re thinking little guys like you don’t make money in this market.
You’re going to be surprised by how successful it’s possible to be reselling sneakers. Benjamin Kapelushnik is a teenager with an online business reselling sneakers. He’s estimated to be earning up to $300,000 a year.
Several of his lines sell for over $1,000. His clients include rappers and sports stars. The size of his business means that he now needs employees.
Social media marketing attracts high profile clients but also the general public. He’s proven this product can make big money and anybody can do it.
The Sneaker Market
The beauty of the market for reselling sneakers is scalable. Start by selling one pair and you can make a tidy profit margin. Scale-up and start handling some big volumes and the bottom line profits mount up too.
Don’t think you can buy just any sneaker and make money. The resellers market is for rare and unusual sneakers. Making money comes from dedicated sourcing of desirable product and flipping those sneakers for a profit.
Do Your Research
Do you know about sneakers? You have to know what’s hot in the sneaker market to be able to spot the opportunities. Research is the key.
Older sneakers can be a great way to make money but you have to know your sneaker history to spot the models that are going to make you money. Without that knowledge, you could end up with a stack of smelly old athletic shoes that won’t earn you a dime.
You also need to be aware of what’s new and exciting. There are new models released into the market so frequently that you have to monitor the market daily. Monitor social media for indications about which models are hotly anticipated and which are unexciting.
Make sure you know your Balenciagas trail-inspired Track Trainers from your everyday value trainers to make sure you stand a chance of making money at this game.
Once you know what to buy and what will sell, think big. The higher end sneakers give you a greater opportunity for profit.
A 25% mark up on $1,000 sneakers will earn you $250. You have to buy, store, market, sell, pack and ship 20 pairs of sneakers at $50 to make the same money.
Choosing the right platform to resell your sneakers on is important. Check out StockX, Fight Club or Stadium Goods for alternatives to the obvious eBay and Facebook options. Try the platform out on a small scale to learn what works for you.
Have A Go
The beauty of reselling is that you can have a go on a small scale. Try it and learn. Perhaps you can make a success of it.
Learn more about business opportunities in our money category.