Welcome to Six Figure Sneakerhead, where we teach you how to make money from reselling shoes. This might sound simple, but many technicalities are involved, which many people overlook when they dive into this hustle but don’t you worry! We got you covered.
As we all know, The internet and E-commerce have gained a lot of popularity and traffic over the past decade. Online shopping has increased tremendously, especially during the ongoing pandemic, and according to Yahoo Finance, the U.S. primary sneakers market — or the market for new sneakers — was worth more than $21 billion. The global and U.S. resale market stood at $6 and $2 billion, respectively.
John Kernan, an analyst at Cowen, tells Yahoo Finance that the sneaker resale market accelerated during the COVID-19 pandemic.
But this also means that competition might be challenging since many people would want to shift to this biz because it’s profitable, but no need to stress over it because we have the right tools like our Hypemaster Playbook and expert opinion for you that’ll make you beat your competition.
WHERE TO BEGIN FROM? RESEARCH AND GAIN SNEAKER KNOWLEDGE.
To start selling sneakers, you should have a vast knowledge of multiple things. It’s important to know which shoes are profitable and which ones should be bought at what price. The timing is also a key factor, and sometimes, due to laziness, you might lose a good catch!
You should be aware of the limited releases and avoid flops; therefore, market research is important. Thanks to the internet, you can easily catch on to new trends and estimate resale prices for sneakers.
StockX is one of the trusted websites where you can easily search for the most trending sneakers, and with easy sign up you’ll be then able to see bids and price trends, giving you an idea about your next purchase, which can generate you profit.
You can also check out GOAT and eBay for prices and to purchase or sell sneakers. With these websites, you’ll be able to compare prices and see the highest bids. With a little market research on eBay by using accurate filtered search, you’ll also be able to find some bargains for yourself.
With the Hypemaster Playbook, you’ll have that competitive edge because you’ll know all about the most profitable sneakers and where you can buy them. With the help of our book, you’ll be able to identify:
- The OG Models: Jordans
- Profitable Nike and Adidas Shoes
- The most profitable Yeezys
- The most iconic sneakers you’ll need to know about
- The list of best selling sneakers.
- Getting Shoes below retail
- And many more!
We also have plenty of free guides within our blog.
Some Profitable Sneakers That Will Help You Achieve Your $10K a Month Goal.
Nike Air Yeezy 2 Red October (2009) – Nike collaborated with Kanye West and released their nonathlete sneakers in 2009 with a retail price of $250; the Yeezy 2 Red October’s average resale price is around $9,600.
Nike Air Mag Back to the Future (2016) – As the name suggests, this sneaker was inspired by Marty McFly’s sneakers in Back to the Future 2, and only limited stock of 1500 pairs were manufactured and were sold through auction. Till date they go for $43,000 to $45,000. They featured glowing LED panels.
Nike SB Dunk Low Grateful Dead Bears Orange (2020) – The bright orange Dunk’s had a retail price of $110, and according to StockX, the average resale price is $3,060.
These are just some of the many sneakers that can generate hefty profits, and with our Hypemaster Playbook, you’ll be able to find out plenty more of these that will be more profitable and how to get them. It will also guide you on using the Sneaker Bots to your advantage to secure multiple pairs for maximum profits.
Where To Sell Your Sneaker? Choose The Best Platform
After you’re done with your in-depth research and purchase your first profitable sneakers, the next important step is choosing the right platform to sell them. You can create your seller account and sell on multiple platforms, or you can sell them directly through your blog or website.
Before you choose a platform, you’ll have to do some profit calculations. Every platform has its own fee structure, which I will also mention below. You should check out our 10k Per Month Sneaker Workbook, where you’ll have the roadmap to $10k a month, and thanks to the extra exercises included in the book, you can even enhance your entrepreneurial skills and keep records of your profits and sneakers.
Some of the best platforms to sell sneakers include:
StockX, a Detroit-based e-commerce platform by Dan Gilbert and Co partners Josh Luber and Greg Schwartz focused on the sneaker resale market based on a bid-based model.
StockX is one of the best platforms where you can sell as well as research about sneakers. You can list your sneaker for the desired price, and buyers can buy it now and are allowed to quote an asking price, which you can accept or reject.
The StockX is an all-in-one solution for sneakerheads with high traffic and a good customer base, but we should also consider the 9.5% processing fee.
To sell on Fight Club, you’ll have to deliver the sneaker to the nearby Fight Club store physically, and then you’ll have to contact the Fight Club staff to decide a price. The price can be decided upon the previous selling rate of the sneaker.
The sneaker will be then listed on their website, and once they are sold, the money will be deposited to your account, or you can collect the cheque from Fight Club with an 80/20 split.
Fight Club’s fee might be higher, but it practically does all the work for you with an additional $5 seller fee and a $2.9 cash out fee are also included.
Everybody is familiar with eBay, and it is one of the largest eCommerce platforms where you can sell your sneakers. If you want something retro or a limited edition version, your first move will be to check on eBay.
Therefore I believe your chances of selling your retro limited-edition sneaker is higher on eBay, and some might even overbid for it if you’re lucky. You should go for StockX as well as eBay because why not double your chances of selling?
With eBay, you’ll get 50 free listings per month, and if you want more, you’ll have to check out their plans, and they accept almost every type of payment like Credit or Debit cards, PayPal and American Express.
In today’s time, we should not rule out the power of social media and how the usage of social media has increased during the pandemic. Many businesses started online selling during the Covid-19 and now are flourishing. You can start off by creating a Facebook page and an Instagram page and start selling from there! Facebook also has many groups like MSX – Midwest Sneaker X Change and NikeTalk that every sneakerhead should join.
Some FAQ’s Relating Sneaker Selling Fee
Is It Possible To Sell Sneakers For Free? – Yes! Thanks to eBay you can now sell sneakers for free with no fee on eBay only if your starting price for the sneaker is $100 or above, not including shipping and handling taxes.
You’ll be eligible only if your product falls under the athletic Shoe category (“Fashion > Shoes > Men’s Shoes > Men’s Athletic Shoes” and “Fashion > Shoes > Women’s Shoes > Women’s Athletic Shoes”).
If I list my sneaker at $0.99 on eBay and sell for $100 or higher, will I be still eligible? – Yes! You will still qualify for the 0% final value fee, but you will yet be charged with an insertion fee because you listed your product at $0.99, The insertion fee is $0 if you list your product for $100 or above.
Will I be eligible if my item sells below $100 but other taxes increase the price to $100 or more? – No, For your product to be eligible for the 0% final value fee, it must sell for $100 or above before the shipping taxes and other taxes.
Pro Tips To Avoid Fee – To avoid fees like service fee or handling fee alongside other taxes you can sell directly through social media or your blog where you’ll have full control of your products from packing to shipping.
Flipping sneakers is a profitable business if you know what you’re doing, and we guarantee to take you all the way to the point where you shift this side hustle to your main hustle.
To get a better understanding, check out our 10k Per Month Sneaker Workbook and our Hypemaster Playbook, where we dive into every single detail from searching for the profitable sneaker to creating your own store and how to handle the legalities.
You can check out our satisfied customers here and start your sneaker journey now. Have a good day, and good luck!