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Sneaker reselling has become a lucrative business for many entrepreneurs in recent years. With limited edition sneakers selling for hundreds or even thousands of dollars over retail price, there is huge potential to make good money flipping sneakers. However, getting started as a sneaker reseller requires learning the tricks of the trade. This comprehensive guide will teach you everything you need to know to start reselling sneakers successfully.
What You Need to Get Started
To become a successful sneaker reseller, you‘ll need:
Capital to purchase inventory: Expect to invest at least $1,000-$2,000 to buy your initial inventory of sneakers to resell. The more money you can invest upfront, the more inventory you can buy and flip.
Connections for buying limited releases: You need access to limited release sneakers to resell for big profits. This means securing connections with local stores, raffles, or sneaker bots to cop hyped releases.
Sneaker bot (optional): Bots automate purchasing limited sneakers online. Top bots like Cyber, Balko, and Kodai improve your chances of copping but cost $500-$1000.
Selling platforms: Create accounts on sites like StockX, GOAT, eBay, Grailed, Stadium Goods, and local marketplaces.
Sneaker knowledge: Research upcoming releases, current trends, and sneaker histories so you can spot profitable shoes.
How to Cop Limited Release Sneakers
Securing limited release sneakers is essential for profit margins. Here are the main ways to cop hyped shoes:
In-store raffles: Enter in-store and online raffles for sneaker releases at retailers like Foot Locker, Champs Sports, Adidas, etc. Show up early release day to buy raffle wins.
Sneaker websites: Cop drops on Nike SNKRS, Adidas Confirmed, Yeezy Supply, and other brand sites. Use strategies like multiple accounts and payment methods.
Sneaker bots: Bots run thousands of tasks across sites, automatically entering raffles, filling carts and checking out. Proxies are needed to avoid getting banned.
Local sneaker groups: Join local cook groups and marketplaces to buy limited shoes for retail or under market price from plugs. Move fast when rare deals are posted.
Sneaker conventions: Attend events like Sneaker Con where limited shoes are sold. Arrive early and be prepared to wait in line for hours.
How to Determine Profit Margins
The key skill for sneaker reselling is understanding profit margins. Follow these steps:
Check current resale values on StockX and GOAT for the release you want to buy. This shows the market price.
Note the retail price for the sneaker before it releases.
Subtract fees like payment processing, selling platform commissions, shipping costs, etc. from the resale price.
The difference between retail price and resale price after fees is your profit margin. Aim for at least $100+ profit per pair when starting out.
For very limited shoes, profit margins can be $500+, but the competition to buy pairs will be fierce. Manage risks carefully.
Where to Resell Sneakers
Here are the best platforms to resell sneakers:
StockX & GOAT: Top sites for reselling authenticated sneakers. Easy to use with large buyer bases but have 9-10% seller fees.
eBay: Excellent for reaching broad audiences. Lower 3-5% seller fees but must build trust as a seller yourself.
Stadium Goods: Specializes in rare and collectible sneakers. Higher quality inventory but also higher 15% seller fees.
Grailed: Curated marketplace popular with streetwear enthusiasts. Low 5% fees but focused on higher end sneakers.
Local selling apps: Offer sneakers locally on LetGo, Craigslist, Facebook Marketplace, etc. Lower fees or free but smaller reach.
Sneaker conventions: Get a vendor booth at an event like Sneaker Con to access crowds of buyers in person.
How to Scale Your Sneaker Reselling Business
Once you gain experience, you can scale up your reselling business with these strategies:
Reinvest profits to buy more valuable inventory in bulk. The more you can buy, the more you can sell.
Build connections with retailers and distributors to buy sneakers for wholesale prices. Widens profit margins.
Create an online sneaker reselling store and social media presence as your brand. Increased sales opportunities.
Hire virtual assistants to list products online and manage orders for you. Lets you focus on growth.
Develop an LLC or official business structure for tax benefits and credibility. Take things to the next level.
Consider opening a physical consignment sneaker store for local sales and brand awareness. Brick and mortar location.
Key Tips for Sneaker Reselling Success
Follow this expert advice when starting out reselling sneakers:
Stick to popular, high demand models from Nike, Adidas, and Jordan while learning the market. Avoid under the radar or obscure sneakers.
Maintain close relationships with retailers and sneaker connects. Getting access to inventory is the number one priority.
Move pairs fast once releasing. Don‘t hold onto inventory too long trying to maximize profit. Some profit is better than getting stuck with shoes.
Provide great customer service and shipment speed once making sales. This will improve your seller reputation long-term.
Keep learning every day. The sneaker resale market evolves extremely fast. You need to stay on top of upcoming releases, trends and shifts.
Reselling sneakers takes some capital, hustle and patience, but huge profits await those willing to learn the game. Use this guide to start your sneaker reselling journey and build it into a serious business.