With economic uncertainties and general civil unrest going on throughout 2020, it can be hard to find silver linings or inspirational stories, especially among entrepreneurs and small business owners who have largely suffered as result of the present circumstances.
Interestingly, the shoe market has been booming throughout the gnarliest parts of the year, and some intelligent and hard working people have capitalized on the opportunity.
Today, we see the story of Ryjan and his business @extra.cred which he started with the help of Six Figure Sneakerhead’s Hypemaster Playbook in March of 2020 when the stock market was plummeting yet sneakers kept booming.
Let’s look at how he was able to build his reselling business among challenging circumstances.
From $0 to $3000 monthly in 3 months:
1. When did you start sneaker reselling?
“I started reselling sneakers in March 2020.
I’ve always been a fan of sneakers and I knew it was profitable to sell, but I only recently decided to take the leap and start doing it myself.”
(Six Figure Sneakerhead side note: Action pays off ! So like Nike says…just do it!)
2. What was the first shoe you flipped, and what was the feeling associated with it?
“The first shoe I flipped was the Nike SB Dunk Low Travis Scott.
My roommate had won the raffle and we sold the shoe together. It was quite an amazing feeling as it was one of the biggest (if not THE biggest) sneaker release of 2020 at that point in time.
I always knew that people could make money reselling sneakers, but that first sale really made it feel like reselling was something I could actually do.
I started with only $200 CAD for the shoe and sold it for $1400 CAD 2 days later. I was hooked.”
3. Biggest “breakthrough” or “aha” moment that kept you in the shoe game or encouraged you ?
“Aside from that first sale, I think the biggest breakthrough moment was finding my main customer base- girls/women (*Six Figure Sneakerhead pro tip: Find a niche customer base)
A friend and I had purchased around 120+ pairs of the Air Jordan 1 Mid Chicago Toes and I had gotten quite few GS sizes.
It had taken me 4 months to get from 0 to 500 followers on my Instagram page, but after dropping those Chicago Mids in GS, my followers skyrocketed from 500 to 1000 in 2 weeks.”
Side note: the Chicago mid toe is actually Ryjan’s favorite shoe to wear as well!
4. What kind of goals did you have in the beginning with sneaker reselling?
5. Best days/weeks/month in resale so far?
“So to be quite honest, I don’t keep track of any of my sales since I sold them so fast this past month lol. I only know I sold 100 sneakers ($20,000+ in revenue) because I ordered 100 thank you cards at the start of the month and went through them lol.
As an estimate, I’d say I probably did $5,000 USD revenue in my best week”
6. When and how did you discover Six Figure Sneakerhead ?
7. What has been helpful in your resale journey ?
Websites like StockX show excellent data
“Honestly, being open to learn and make connections to people in the sneaker/reselling community. I use websites like SFS, Facebook sneakerhead/resell groups, discord cook groups, and local contacts as ways to learn more about the culture and make sales/buy stock. I’ve been blessed with the amount of new and old sneakerheads that have taken me in as a new member of their community.”
Be open to learn, help each other, and we can all make money.” (note: we’re all about spreading the winning all around, and this is case in point that the pie is big enough to share!)
8. What are you current and future goals in the sneaker resale business ?
“I’m quite a big dreamer so I do want to own my own store/brand in the future. I want to make six figures selling sneakers and hopefully become a full-time reseller. I’m working towards getting more capital to achieve that dream. As for my current goals, I’d probably say I want to hit $4000-5000 CAD in profits per month. I made around $3000 CAD profit last month so I want to keep that momentum going.”
9. Any advice for new resellers ?
“Yes, I have 2 big things that I think every new reseller should know.
1) I guess my biggest advice is to keep your money moving.
As a new reseller, you probably don’t have the capital to hold pairs. You want to keep flipping fast to grow your capital as fast as you can.
The more pairs you sell also means that you gain more customers.
This allows you to build your brand/rep (make an instagram and Facebook page) and gains you access to their networks. I started with $200 CAD in March and I have around $20,000 CAD in sneaker assets now. I segregated my money for personal use and sneaker reselling so my current assets (sneakers) have mostly come from that initial $200 investment.
2) Earn people’s business through great customer service.
Undercutting is the easy way out but it doesn’t do anything for your brand.
If the only reason that people come to you is because you have the lowest price, they will leave you when someone else goes lower. Most of my pricing is either at market price or slightly above, but I make sure my customer service is top-notch. I have a vehicle so I usually deliver same-day and for free within the city (I’ve driven 3600 kilometers in 3 weeks). When you give your customers value, instead of the lowest price, they will come back. You want to be their sneaker guy/plug, so earn their business not by price but by the value and great customer service that you offer.”
-JVG & the Six Figure Sneakerhead Team