Do you want to sell sneakers for cash? Do you only have one income stream? If you are reading this is because you’ve made a decision to start making more money by reselling shoes online. By the time we are done with this article, I will share with you the steps you need to follow to sell sneakers for cash the right way.
Caution: Reselling shoes is not an easy task. You will be required to work during weekends, or after work. Loved ones will probably tell you to quit, or that you are wasting your time. Again, this type of work requires commitment and discipline.
I sell sneakers for cash today and it provides thousands of dollars of additional income to my pocket. This wasn’t always the case though. Before I started flipping shoes online, and generating passive income steams, I was clueless about the sneaker culture.
To flip shoes is something that not many people recognize as a profitable side business. However, by reselling shoes I’ve been able to generate higher returns on investment (ROI) than investing in the stock market. The sneaker marketplace, in my opinion, is much more lucrative than the New York Stock Exchange.
To sell sneakers for cash was an idea that I never saw coming my way. I used to be that guy wearing flip flops, sketchers, or even buying cheap kicks on Target. Sneakers for me where just rubber, glue and other types of materials put together. I was never aware of any shoe sales near me, or discounts at the Nike store.
Today I’m able to look at a shoe, and determine whether or not its profitable. I understand what to look for in the sneaker market, and identify sneakers that can generate 30%-180% profit. Sounds excessive, but its true.
Was it always this easy? Absolutely not. After 6 months of painful sales, losing money and time, I was able to learn everything that I needed to know. Not a scam promise.
Nike and Adidas shoes are exactly like stocks. Each type of shoe has its own perceived value in the sneaker market, and every single one of them has various types of demand and supply. If you are able to understand the demand, sales frequency, and profit margins you will be able to sell sneakers for cash in no time.
So how exactly did I start this process? Lets cover one by one in detail. Before we start, go and grab a drink, and lets jump in.
We will cover both things you need to set your mind to, and other steps that you need to perform. Lets begin:
1. Set Time Aside For Sourcing And Stick To It
I had a full time job when I started reselling shoes online. I could not commit every single day, since I had to be functional for my 9-5 job. As a result, I set two times a day during the week and one day during the weekend to sourcing. I picked Tuesday, Thursday evening and Saturday morning as my sourcing days. This would allow for sufficient time to spend time at home with family, and sourcing activities for my side hustle.
Its imperative that you stick to this schedule. You are only cheating yourself, and wasting one of the most valuable resources in life: time. That’s right, if you do not frequent Nike or Adidas stores, other people will take the merchandise that you need.
If you have an iPhone I recommend that you set time set on your calendar. Once you make it to a Nike Factory or Adidas Outlet store, set your timer for 1-2 hours to allow time to review of all shoes.
Not only will this help you with this particular passive income venture, but it will also help you develop self-discipline for anything you commit to. If you want to sell sneakers for cash, set time aside for sourcing and stick to it. Otherwise, it’s pointless to waste your time going to a Nike Factory Store when everything has been sold. Save yourself time and money.
2. Define The Number of Shoes You Want To Sell Each Month
Do the math and understand the amount of money you want to make each month. This will help determine how many trips you need to make, and the number of sneakers you need to maintain in your inventory.
When I started to sell sneakers for cash, I had no idea on how much I wanted to make.
The issue with doing that was that I would try to sell shoes for a quick buck, and not have enough inventory to meet my goals…
This was both a frustrating and stressful sensation, since it was both time and money that I was investing into this.
One evening when I was traveling, on a plane I started doing the math of my desired income from reselling shoes. I first started with the goal to make $500 dollars a month, and as a result had to earn $16 a month in profit. This helped me realize how many shoes I had to sell, and what margins I had to manage to reach my goal.
3. Get The Education You Need To Sell Sneakers For Cash
To resell shoes, you need to be able to understand the demand for shoes. What’s hyped, and what’s not. For example, not all Air Jordans have a high resell value. Not all Yeezy’s are that profitable either.
When I started to sell sneakers for cash I had no idea of all the culture behind sneakers. My journey was much more extensive, and it required me to watch an infinite amount of hours of YouTube videos about sneakers. I had to watch true sneaker heads buy sneakers, talk about releases, and what was going to sell out.
If you are like me, go to YouTube and start finding these same sneaker heads to up your education. I have a free guide with all the Youtube channels I watched, and other sources of information that you need to watch. All of this is for free, and all you need to do is subscribe to the channel.
Once you have a better understand of which shoes have a higher resell value, and which ones are thrash, then you can start identify where there is opportunity. One piece of advise, when you start only focus on Nike and Adidas. Don’t venture out to Reebok, Puma or other brands.
4. Keep This Passive Income Project To Yourself
This tip will probably shock you! When you start reselling sneakers, it will take you a couple of weeks or even months to start making profit. Hopefully with my blog you won’t go through a long learning curve like I did. But in reality, when you start this process, its not that easy.
There will be days where you won’t find any shoes to resell, you will lose money or even have to sit on a bunch of shoes that did not sell…
What you need to do is keep trying, improve your research strategies, and have patience. What you DON’T need is friends and family telling you to stop, to give up this crazy idea. If you are really set to make money on this business, you have to at least give yourself 3-6 months of trying.
Trying means going to multiple stores a week, doing research on shoes on a daily basis, dealing with price fluctuations, and not knowing if you will make a profit on each shoe. That’s trying. Is it worth it? Absolutely. Not only because of the money, but also because you’ve built a process based on discipline and commitment. Thats powerful.
So my advise is to keep this passive income thing to yourself. You can decide to talk about this, but be wise on who that person is. Once you start making money, and your process works. Then go ahead and share it with the world. Let everyone know about your success!
5. Get The Tools You Need To Succeed
By tools I mean apps, knowledge, and information sources to give you an educated opinion on the sneaker market. When it comes to apps, you will need GOAT, StockX and Ebay to be able to sell sneakers for cash.
These three sneaker apps provide a powerful combination, and allow for a sales channel of millions of buyers. Do not limit your sales reach to only one market. Leverage these three giants and increase the probability to sell sneakers for cash times 3.
I have additional sources information, and Youtube channels that I have watched over and over to get a feel on the market. I would advise you watch at least 1-3 videos a day from these guys to get a general sense on the market.
These are sneaker head influencers who over time have grown their sneaker Youtube channels and acquired thousands of followers (including me). All of these guys explore sneaker releases, provide their opinion on shoes, the resell market, and perform comprehensive sneaker reviews.
An example of such sneaker channels is Mr. Foamer Simpson. He has over 300K subscribers, and releases one of the best sneaker related videos in Youtube. One of the reasons I like his approach on shoes is his uniqueness, and passion he brings on each video. The manner in which he narrates videos, and brings passion to his channel makes is a great source information to learn about shoes. Make sure to follow him.
If you are interested in getting more recommendations, and valuable sources of information to 1-up your knowledge, subscribe and I will send you a free guide with this info (No BS or Spam, promise).
6. Integrate This Business To Your Life
I think the most important point here is to never stop learning. To sell sneakers for cash without a doubt is possible. Make sure you integrate what we’ve discussed here in your day to day activities.
For example, instead of watching content on YouTube related to the Kardashians, make sure you watch news on upcoming releases on sneakers. Sneakers for example is a great source of information to get this type of insight.
Whenever you go to the mall to buy a gift to a friend, also make sure you stop by a FootLocker and check which sneakers do they have.
If you have spare time, read sneaker reviews and what trends are growing among the sneaker head community. All this information will increase the probability, and advantage to sell sneakers for cash more easily.
Never stop learning also means to take what you learn on this blog post, and expand it to other passive income opportunities. Take the discipline, and online information to other ways of generating income.
One book that I would definitely recommend to expand your horizons when it comes to generating wealth, getting a different perspective on entrepreneurship, and defying the idea that happiness is a 9-5 job. I recommend you read the Fast Lane Millionaire. The only issue with this book is that you might quit your job after reading it…
I have a blog post where I discuss the main teachings of this book. Just to give you a glimpse, here are a key few points to consider:
- The ideal business is one that its ability to make money does not depend on your time, energy, and physical presence. With just a few hours a week (or month) to ensure its running in the right direction, having this business model surely helps you get to the fast lane millionaire.
- Commitment is what helps businesses and systems succeed. Committing to your goals, and spending whatever time that is required to build your business. By investing time to build your money tree, and forgoing certain pleasures in the present; it will be what differentiates yourself from most people in the future.
- Most great products, and companies took existing ideas, however, made them better. This book encourages you to find what value you can bring to the world, and execute towards it.
- Figure out what your idea needs to be executed properly, and take action to make it happen. Avoid planning every single detail, and don’t go into a ‘analysis paralysis’ mode.
There you have it guys! How to sell sneakers for cash revealed, and explained from my perspective. Making money online requires discipline, and hard work. If you are interested in expanding your knowledge on sneakers, and being informed on new blog posts make sure to subscribe.
Once you subscribe we will share a free guide I prepared with valuable information, and will be notified whenever we published new content.