Should I just go for it?

[Josh Spiller]

For a while I have been interested in starting up a sneaker reselling business and I feel like now is the time for me to take the first step and begin investing. However, I only have £200 to my name so buying a pair to resell would practically be all of my capital (I earn £50 a week for my job). I'm also looking at joining a private group chat that goes over a lot of details about sneakers which isnt available to the public (Such as stock count and predicted resale value). Just wanted to ask on here if people think this a viable business to start?

 

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[perchboy]

1. Find a sneaker you want to resell
2. Take pictures of it - don’t buy it yet
3. Use those pictures to find someone who wants to buy those sneakers
4. Once you find someone, buy the sneakers and then flip it to the guy you already know wants them

This is how I would run it. Minimal risk. If you don’t find anyone who wants it then you don’t waste your money.

 

[Josh Spiller]

1. Find a sneaker you want to resell
2. Take pictures of it - don’t buy it yet
3. Use those pictures to find someone who wants to buy those sneakers
4. Once you find someone, buy the sneakers and then flip it to the guy you already know wants them

This is how I would run it. Minimal risk. If you don’t find anyone who wants it then you don’t waste your money.

Ok, thanks for the advice. Definitely safer than putting a pair up for sale on a selling platform not knowing if anyone would buy it.

 

[Dockid]

For a while I have been interested in starting up a sneaker reselling business and I feel like now is the time for me to take the first step and begin investing. However, I only have £200 to my name so buying a pair to resell would practically be all of my capital (I earn £50 a week for my job). I'm also looking at joining a private group chat that goes over a lot of details about sneakers which isnt available to the public (Such as stock count and predicted resale value). Just wanted to ask on here if people think this a viable business to start?

Really tight margins on this business, you will need to build a great Instagram page with lots of reviews. I know a guy who is a big reseller in Ireland. He has sold over $250k of designer merch over the last few years and only made about $10-15k profit.

When you add together all the time he has put into the business its a bad ROI. He started a high end sneaker/clothing convention recently with a few other resellers and made good money from that.

 

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[Josh Spiller]

Really tight margins on this business, you will need to build a great Instagram page with lots of reviews. I know a guy who is a big reseller in Ireland. He has sold over $250k of designer merch over the last few years and only made about $10-15k profit.

When you add together all the time he has put into the business its a bad ROI. He started a high end sneaker/clothing convention recently with a few other resellers and made good money from that.

I agree, from my research, the margins can be extremely low so the option of making a lot from the business requires a high startup cost. It also depends a lot on luck to get the pairs which have good profit margins because everybody is trying to get them at the same time.

I would personally aim to buy used sneakers that are in decent condition and then fix them up to be able to sell for profit, but this is where authenticity comes into play and I would need to be able to 100% know that they are legit.