SNEAKER RESELLING SIDE HUSTLE: Your guide to making thousands flipping hyped pairs of Dunks, Jordans, and Yeezys
- A Cowen & Co. analysis from July estimates that the sneaker
resaleindustry is worth $2 billion in North America and could reach $30 billion globally by 2030.
- As the market for valuable
sneakersbooms, entrepreneurs are making a killing by figuring out the best ways to buy and resell sneakers.
With the sneaker resale market continuing to thrive, Insider is covering all aspects of how to properly scale a business in the booming industry. From which sneakers to purchase to necessary technological investments, made in the form of bots that entrepreneurs entrust to nab pairs online, the following covers everything you need to know about how to break into the market that Cowen & Co. estimates could reach $30 billion globally by 2030.
Sneaker reselling is based on a simple concept that guides many other businesses: buy low, sell high. You'll want to figure out how to track expenses and figure out net profit on each pair sold. One entrepreneur who made over $125,000 in sales since January 2019 showed us his spreadsheet that he uses for tracking profits. You'll also want to figure out your strategy. While some people might prefer to invest in a few pairs and wait for them to grow in value, others utilize a high-volume sneaker resale strategy to make money by moving product quickly at slimmer margins. Others focus on acquiring rarer pairs that can fetch thousands at auction. Some have even developed mathematical formulas to determine the best way to buy and sell. Lastly, it can be helpful to take a look at some up-and-coming sneaker resale websites to learn about new ways to make money in the industry.
Read more: A 16-year-old who made $125,000 in sneaker sales reveals his pro tips for young resellers looking to break into the multi-billion dollar industry
A sneakerhead who made nearly $7 million in sales last year reveals his secrets to tapping into the exploding multibillion-dollar resale market
The top sneaker seller on eBay who made $1.5 million in sales in 2019 reveals how he grew business to dominate the platform
How I make thousands of dollars each month from my side hustle reselling sneakers
We got a look at exact spreadsheet a 16-year-old uses to make thousands of dollars in sales as a major sneaker supplier to stores and boutiques
5 up-and-coming sneaker websites that resellers and collectors should use in 2020 to boost profit and nab hyped pairs
A sneaker reseller whose store has made millions in sales since 2018 shares the mathematical formula he uses to determine which pairs will skyrocket in value
Scaling your business
Once you nail down the basics, here are some tools to guide you on the next steps of growing your business. While many sneaker resellers can start from humble beginnings, it can take just a few months to hit sustainable profit margins. Attending sneaker events like Sneaker Con is a great way to build connections and make fast sales. But as your business grows, it is important to keep track of all of your sales and expenses to ensure that you file your taxes correctly each year.
Read more: Here are 5 steps that independent sneaker resellers live by to pay their taxes every season
How a formerly homeless sneakerhead with just $40 to his name built a multi-million dollar resale empire in 6 years
A sneakerhead who has attended more than 20 Sneaker Cons reveals his top 6 secrets for making the most money at a resale event
3 sneakerhead sisters could fetch over $1 million by selling thousands of their classic Nike, Adidas, and Reebok shoes through an exclusive eBay auction
I turned my obsession with sneakers into a full-time resale business that earns up to $40,000 in a month — here's how
In the sneaker resale world, a "bot" refers to a software application that expedites the online checkout process and helps resellers nab hyped pairs online — including limited-edition drops. Though a controversial aspect of the sneaker world, bots are often essential for purchasing the latest releases at
Read more: A sneaker reseller who uses multiple 'bots' to nab mass quantities of expensive shoes the moment they drop explains why the controversial tech is worth it
Inside the controversial underworld of sneaker 'bots,' where coded scripts resell for thousands of dollars and Twitter monitors can make or break a release
A 16-year-old's sneaker bot business charged $200,000 in fees since October. Here's how his 600-member group secures the coveted software before anyone else.
How a self-taught developer with no formal training made $700,000 in sales this year from his sneaker bot, Splashforce, that nabs hyped pairs in just milliseconds
As sneaker bots explode, a veteran reseller and YouTuber with over 160,000 subscribers reveals 3 steps to profiting from the lucrative tech
In the arms race between teenage sneaker bot users and footwear companies, one side is winning — and it's not the billion-dollar companies
Cook groups and online services:
While they normally charge hefty membership fees, cook groups are exclusive forums that supply information for anyone looking to break into the multi-billion dollar market. They usually offer members access to botting services in addition to exclusive details related to drops. We got a look inside a couple of these groups, including Polar Chefs, a thriving cook group with over 400 members that was started by a teenager who employs 23 people to help him run the group. Cook groups are often run on Discord, a messaging platform that has become a hotbed for sneakerhead activity.
Read more: Exclusive sneaker resale groups make millions by paying insiders to leak information on valuable sneaker releases before they happen. Here's a look inside one of these members-only forums.
Inside a teen's exclusive sneaker cook group that makes him 6-figures in sales, employs 23 people full-time, and nabs pairs of the hottest sneakers on the market
How Discord went from gaming and alt-right hub to a sneaker cook group hotbed, where resellers charge fees to share their secrets for cracking the $2 billion resale market
A college dropout runs a multi-million dollar sneaker cook group, AMNotify, with thousands of members across the world. Here's how he launched one of the first exclusive sneaker forums from a hospital bed in 2017.
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