How can you make money reselling shoes?
Shoes can be sold online, third-party consignment, or in your own store. Buy popular brands at a low cost and sell them for higher. The goal is to buy cheap in one market and sell for a profit in another.
Reselling or “flipping” shoes for a profit has become a very popular way to make money these days. Depending on your skills with marketing, finding inventory, and knowing the best time move can make for a very beneficial side hustle.
Whether you are looking to resell brand new or used, there is a market for shoes. Once you wiggle your way into it, you won’t be disappointed. If you consider starting your own sneaker resale business, this article is for you.
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How can you make money reselling shoes
The shoe industry is a great place to start making some big money if you know what you are doing. You can quickly and easily start making money simply by purchasing popular shoe brands and types, then selling them for a profit.
There are various ways to be successful in this business, whether you are looking to sell through an online store, a third-party consignment, or in your very own brick-and-mortar storefront.
Can You Really Make Money Reselling Shoes?
It can be hard for many people to picture how reselling shoes can actually turn a big enough profit to make it worth your time; however, it is doable. It is already being done by many businesses and individuals alike.
If you are doubtful that there is money to be made in this industry, do a little google research on Benjamin Kickz, aka Benjamin Kapelushnik. Kapelushnik made over a million dollars at the young age of 16 through his self-made sneaker reselling business, putting him on Fortune’s “18 under 18” list.
Benjamin Kickz isn’t the only person who has made tons of money in the shoe-resale business, but he is one of the few who has been able to clear five figures.
While it is possible to get rich reselling your favorite kicks, chances are good you won’t want to quit your day job, at least not at first. However, once you get yourself on the map and some experience under your belt, it isn’t a far stretch to make upwards of $50,000 a year.
Tips for Making Money Reselling Shoes
When you get into any business, you first have to do a little bit of research to understand the industry and have a clear idea of what you want to do and how you want to do it.
What types of shoes are you going to focus on? How do you plan on marketing the items? How can you prove to your customers you are reliable?
There is a list of things to think about before you start purchasing a boatload of shoes. Here is a list of the most important items that should be on that list.
1. Know Which Brands to Look For
You might make some money by picking up shoes that are on sale or look nice here and there. However, you’re not going to see a huge profit. You must know what brands are being sought after and when to buy and sell to make a little money.
Department store brand shoes will not make you very much money in the resell market, so choosing the best brands is imperative in being successful. So, keeping yourself in the fashion “know” will help keep you from losing money.
Currently, the best brands of sneakers to resell includes:
- Nike Air Jordans
- Nike Air Max
- Nike (Just about any new line)
Sneakers that are not currently turning a profit
- Under Armour
2. What Types of Shoes Are You Planning to Sell?
There is a market out there for literally any item you plan on selling too; however, it is essential to decide how much work you want to put into looking for it.
Selling high-end heels and designer flats shouldn’t be an issue if you know where to market. If you want to sell a shoe that will do well in almost any market available, selling sneakers is the way to go these days.
The sneaker market has been, and probably always will be, the most profitable in the shoe reselling industry. Sneakers are versatile, comfortable, and fashionable and can be worn almost anywhere at any given time.
3. Make Sure They are Authentic
There is nothing worse for a reselling business than accidentally (or intentionally) selling non-authentic shoes. There are many ways to identify whether or not the brand you are selling is legit, and it is the seller’s responsibility to know what to look for and to check before accepting any payments.
4. Know the Best Time to Buy and Sell
There are ideal times to buy and sell shoes to make the most money. One of the best times to pick up a large number of sneakers is right at the launch of the latest model (within the first two weeks).
Retailers will never have enough stock to satisfy all customers looking to get the newest release. Jumping online or standing in line will allow you to purchase shoes at an affordable price, then resell them to those who aren’t willing to wait for the next batch to hit the stores.
5. Create an Appealing Gallery
Whether you plan on selling in-store or online, it is crucial you appealingly showcase your inventory. You want to make everything organized and professional. You are more likely to see sales when you look like you know exactly what you are doing (whether you do or not).
If you are selling shoes online, make sure the pictures have a high-quality resolution. Make sure enough of the shoe is in the shot to give the customer a great look at the merchandise.
Keep your photos in a specific order, such as sizes, brands, price, etc. Make it easy for viewers to see the options and have the ability to go straight to the items that apply to them.
If you choose to resell your items in-store, separate them the same way you would online but on the shelves. Most people do not like asking for help, and if they can’t find what they are looking for easily, there is more of a chance they will walk away.
6. Build an Attention-Grabbing Website or Social Media Account
There are tons of people attempting to do the same thing you are. So to stand out amongst the crowd, you must make an exciting and hard-to-miss media account.
Whether creating an online store through a website or starting small and planning to sell through Facebook, your brand needs to look top-notch and unique. It needs to have the right look that will stick out and make people remember who you are and what your business is.
7. Advertise Your Brand
These days it doesn’t cost a fortune to advertise or market your brand. There are many great ways to get the word out there for little to no out-of-pocket costs.
One great way to show off your store is by advertising on all social media accounts, from Facebook to Twitch and everything in between. Share with your family and friends, then insist they do the same. No matter how far technology has come, word of mouth still seems to be one of the best ways to advertise out there.
Tips for Reselling Used Shoes
If you are more interested in selling used shoes, there is definitely a way to make money going this route. You can purchase used sneakers from many places such as thrift stores, yard sales, eBay, and consignment shops. Then put them up on your own site to make a little money.
If this is something you choose to do, again, verifying the brand’s authenticity is extremely important. It is critical for your store’s reputation and future.
You also want to make sure you are cleaning the shoes and repairing scuffs, scratches, and worn-out laces before you put them on shelves or online.
Where to Buy Your Inventory
When you are looking to sell brand-new, never-before-worn sneakers but don’t have the budget to purchase them straight off the brand shelves, you can get your inventory from a number of places.
- Scroll through e-bay
- Check discount stores that sell older styles like Marshalls, Payless, Footlocker, or Burlington.
- See who’s offering what on marketplaces such as Facebook or Etsy.
Summary: How to make money reselling shoes
You can make money in the shoe reselling business. Whether you can make it a career change or a side hustle will significantly depend on how much time and energy you are willing to put into it.
Always look to sell popular brands, which you can find at thrift stores, outlet malls, or stores like T.J. Maxx.