Are you looking for a new side hustle that is both profitable and fun? Entering the sneaker resale industry might just be the right next step for you and your wallet.
Bonus points if you are a self-proclaimed sneakerhead!
The concept of reselling sneakers is pretty simple; the goal is to purchase new or pre-loved pairs that have a profitable resale value. This shouldn’t be too much of a struggle, as some can even be worth 150% more than their retail value after they have been sold out. Do we need to explain further?
Statistics show that the global sneaker resale market is currently valued at $6 billion and is expected to grow by an astonishing 400% by 2030.
Thus, it comes as no surprise that many resellers make five or even six figures from just selling sneakers online.
For example, Justin Melnichuk was only 16 years old when he successfully reached $1.4 million in sales after building his business for four years; making him one of the youngest and biggest sneaker reseller in the US.
Hearing all about these promising statistics and case studies is enough to tempt anyone into the sneaker resale industry. Of course, as with any business, success comes with time, research, and effort.
Not to worry! In this elaborate article, we have gathered all the tips top resellers are using to grow their business.
Keep reading to find out how to become a sneaker reseller by following our step-by-step guide.
- Find Out the Best Sneakers to Resell
- Choose the Marketplace You Will List Your Products On (Bonus: Learn How to Crosslist)
- Conclusion…
#1 Do Your Research…Seriously!
While the sneaker resale industry is one of the most profitable ones after apparel, it also requires a lot of hard work; a big part of it being research, research, research!
Research is everything when it comes to sneakers. From the history of popular brands to changes in market trends, you must be a sneakerhead if you are looking to make some serious profit from this side gig.
i.e. knowledge about the history, design, and value of Jordans and Yeezys is the bare minimum of becoming a sneaker reseller.
This is not to say that you should stay away from this product category if you don’t already love sneakers, however you will have a lot of homework if you want to understand your potential customers better.
You may be wondering ‘Why is learning about the history of sneakers so important if I want to become a sneaker reseller?’
Well, sneakers are more than just a pair of shoes. They have formed communities full of stories, sentiment, and culture. It is often the backstory of a new release that drives sales rather than the aesthetic or the price.
In other words, the history behind every pair of sneakers allows sellers to predict the value, hype, and competition; making it a great way to choose the right inventory for the ultimate profits.
After all, knowing your audience and their needs is what will set you apart from other sellers.
What Are the Best Places to Research Sneaker Trends?
Every top sneaker reseller knows that the best way to keep up with the ever-changing fashion trends is to learn more about sneaker history and find out the best reselling tips through social media and cook groups.
- Social Media
A benefit of becoming a sneaker reseller is the fact that you never have to worry about a shortage of new releases; making this product category a risk-free investment.
Just as with any fashion item, social media is the best place to discover popular trends, and as we already know fashion is constantly updating. As a reseller, this means that staying on top of these changes is a requirement if you are looking for a successful side hustle.
Customers are unlikely to choose you if your products are undesirable and outdated.
As mentioned earlier, sneaker history will help you predict the popularity of certain releases. However, this knowledge must be combined with the observation of social media trends to ensure that you constantly have in-depth product knowledge.
Twitter is one of the best platforms to stay up to date with releases, restocks, news and reselling tips.
Becoming part of Sneaker Twitter will not only help you learn more about the product but will also allow you to plan ahead for upcoming trends. After all it is not uncommon for sneak peeks and rumours to be posted across the platform.
Some popular accounts that every sneakerhead should be following include:
- @snkr_twitr
- @SneakerNews
- @adidasalerts
- @SOLELINKS
- @nicekicks
- @Complex
- @HYPEBEAST
Reddit is another great community worth joining if you are looking for the best advice and tips on how to become a sneaker reseller.
There, you can find out more about the sneaker community, their opinions, and even images of their favorite kicks.
It is also the perfect place to ask questions and get help from more experienced resellers who are willing to help out.
Some useful subreddits include:
- r/Sneakers
- r/SneakerMarket
- Cook Groups
Although a strange name for a sneaker community, a cook group refers to a collective of resellers and sneaker lovers.
These are truly resourceful spaces where you can find early links to new releases, support for acquiring requested items at limited release events, reseller tips and even monitors!
While they are typically found on Discord, you can start cooking with cook groups on any social media platform including Instagram, Twitter, and Facebook.
Some popular groups include:
- Hidden Society
- AM Notify
- Sneaker Squad X
- Peachy Pings
- Endurance
- Notify
- Juiced IO
#2 Discover Where to Source Your Inventory From
If you want to be a successful sneaker reseller, you need to know where to source your products from.
While thrift stores, yard sales and flea markets are great sources of apparel, they are not ideal for sneaker inventory.
Imagine having to dig through hundreds of shoes, just to find pairs that are barely worth the retail value.
Thankfully, sourcing your inventory can all be done from the comfort of your own home.
What a relief!
Signing up to popular e-commerce platforms such as StockX, Hyperbeast and Sole Supremacy is highly recommended to any reseller who is looking to stock up.
For instance, StockX offers a bid-based model that allows buyers to name their price and negotiate with sellers for great deals.
Make sure that you are asking yourself the following questions before making a purchase on any of these marketplaces:
- Are these sneakers being sold under reseller price?
A successful reselling business requires a great profit margin. Therefore, you should always aim to buy sneakers at a lower value than what you will be selling.
- Is the price too good to be true?
On the other hand, sneakers that are suspiciously cheap should be approached with caution. Just like most e-commerce platforms, sneaker marketplaces are also susceptible to scammers who are selling fakes. This is especially common with high-end sneakers.
To avoid being a victim of a scam, always ask for proof of purchase and tags if the shoes are new and this information is not visible in the images provided.
Checking the seller’s rating is another important step you should take every time you are stocking up, including the type of reviews they have received.
Overall, if you are uncertain about a listing, the safest choice is to avoid proceeding with the transaction.
Finally, making use of a Sneaker Bot could save you tons of time by completely automating the inventory sourcing process.
While different bots offer their own unique features, generally Sneaker Bots monitor inventory information from web pages to then notify the user if there is a restock on a particular pair.
This means that instead of spending hours on end manually refreshing pages, you could have a Sneaker Bot take on this tedious aspect of inventory, which will leave you with more time to focus on other aspects of your business.
Some popular Sneaker Bots include:
- Wrath
- Prism
- Kodai
- Garnesh
- Noble
#3 Find Out the Best Sneakers to Resell
It is a no-brainer for any sneakerhead that Nike and Air Jordans have been at the top for a very long time.
Managing to get a good deal on limited-released kicks from these brands will make you a small fortune!
i.e. The resale value for the Nike Air Yeezy 2 Red October currently sits at approximately $6,000, although their retail value was $250.
Similarly, the Vintage Air Jordans 12 can go for over $100,000 on resale; an astonishing price for any sneaker reseller!
As an amateur reseller, you should always aim for brands that you know will be popular based on sneaker history, social media trends and cook group discussions. This is because it is guaranteed that the resale value will be profitable for your business.
Like most luxury and vintage apparel, investing into sneakers is like buying stock. Although their value is low, over time there can be a dramatic, yet profit-making increase.
Purchasing popular brands with long-lasting value as a first-time sneaker reseller means that you are more likely to profit from your inventory with minimal risk.
E-commerce platforms such as Stock X and Stadium Goods show an estimate of how much the shoes will cost across a 12-month period after their first release date; making it easier for resellers who are looking to stock up their inventory to decide on the most profitable kicks.
Some of the best sneakers to resell include:
- Nike Jordan 1 Retro High-off White
- Balenciaga x adidas Stan Smith
- Nike Air Mag Back to the Future
- Nike Air Yeezy 2 Red October
- Travis Scott Air Jordan 1 Nikes
#4 Choose the Marketplace You Will List Your Products On
Usually the same place you decide to source your inventory from can also be used as your dedicated selling platform.
StockX is an online marketplace that is primarily used for sneaker resale. It is also a popular destination for rare and limited-edition sneakers, apparel, and watches.
It operates on a bid system and unlike many popular marketplaces both sellers and buyers are completely anonymous. This means that buyers don’t have to carry out in-depth research on sellers to ensure their legitimacy.
eBay is arguably one of the most popular marketplaces for limited-edition products, including sneakers. With their Authenticity Guarantee, reselling on eBay means that your items will be professionally inspected at no extra cost.
All orders over £450 will also require a signature at delivery.
This service allows you to not only increase the trust between you and your customer base, but also ensure that you do not get scammed by customers who are looking for a freebie.
Instagram is a popular destination for sneaker resellers to promote their inventory due to the lack of seller and platform fees.
The payment method can be agreed upon by both parties. Although riskier than e-commerce marketplaces, it is a more versatile approach to reselling.
Other popular resale platforms include:
- Stadium Goods
- Grailed
- GOAT
- Depop
Now that you know the best platforms to resell your inventory on, here’s a better idea:
Why not sell on multiple sites at once?
You have probably landed on this article after wondering how to become a sneaker reseller.
While following our step-by-step guide will guarantee your success, gone are the days where you can stick to a single platform and earn a fortune.
Reselling has seen a dramatic increase in the last few years, and things are only looking up. The competition is running high, which means that crosslisting is a necessary aspect of owning not just a reselling business, but a successful one!
After all, this is what successful sellers are already doing and we are just here to let you in on their secrets.
While this can be carried out manually, it is an extremely time-consuming process that is prone to human error; risking your seller rating and negative reviews if serious mistakes are made.
SellerAider offers the best crosslisting software on the market; a free Chrome extension app that automatically crosslists your products individually or in bulk across different platforms of your choice.
Try Crosslister for FREE here and focus on the resale matters that require your full attention!
Find out more: How to Sell on Multiple Sites at Once
Conclusion…
Flipping sneakers is an incredibly profitable side gig that can easily turn into a full-time income due to the endless possibilities of increasing your profits.
Just as with any reselling business, becoming a sneaker reseller requires plenty of research, dedication, and effort. However, in this article we have let you in on all the tips you will need for a successful flipping business.
Here at SellerAider, we make automation software that allows sellers to focus on the most fun aspects of reselling. From crosslisting to seller bots, we create products that help our customers have less things to worry about on a daily basis.
After all, the top sellers are doing it. So why shouldn’t you?
Try Crosslister for FREE and watch your sales grow!
Bonus: Are you unsure about becoming a sneaker reseller?