Sneaker reselling business + introduction

[leonft]

Hi everyone,

I’m a 15 year old from Australia who has recently just read Millionaire fastlane over the last few weeks on my bus ride to school. I’ve always been studious at school and gets quite good grades, but this book has completely changed my perspective on life and careers. For the last 6 months I’ve been reselling sneakers and have made about 5k which I considered quite good coming from nothing. Currently I’m working on scaling this business by creating a Shopify website and listing products I know I can easily source for a lower price and then essentially drop ship these pairs, increasing passivity. It’s a competitive industry and it’ll take a lot of work to get going but I’m confident I can make it work. Each pair should be $100 profit minimum meaning if I can even sell a few pairs a day I’ll be making a good amount of profit for my age. I’ve also recently got into crypto and nfts but unfortunately have only lost money on it (about 1k). Would love some thoughts on this idea!l

Leo

 

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[AnasHarn]

Hi and welcome !
That's very nice for such a young age !

I have always been interested in resseling sneakers, is it a viable side hustle / business, are the brands releasing enough models to get you working all year long ?

Of course this is not CENTS but can be a good start to bootstrap.

 

[leonft]

I

Hi and welcome !
That's very nice for such a young age !

I have always been interested in resseling sneakers, is it a viable side hustle / business, are the brands releasing enough models to get you working all year long ?

Of course this is not CENTS but can be a good start to

Hi and welcome !
That's very nice for such a young age !

I have always been interested in resseling sneakers, is it a viable side hustle / business, are the brands releasing enough models to get you working all year long ?

Of course this is not CENTS but can be a good start to bootstrap.

It 100% is, from my experience there’s enough releases to make it a worthwhile side hustle but it can take up a fair amount of time, researching, receiving and shipping shoes etc. that’s why I wanted to work on slightly automated this process and also not relying on buying these shoes at retail. Essentially, with my connections I am able to easily buy these sneakers for a price above retail price but that I can still make a profit on. I’ll list these products on a Shopify store and when they sell drop ship them straight to the customer for a profit. Since scaling is limited with that method once I start getting sales and get an idea of what does well, I’ll buy large amounts of the stock and stop drop shipping the products.

I do see how this isn’t really the ideal “fastlane” business, as there is a limited amount of sneakers in circulation and a limited number of people wanting to purchase them. There also are a few other stores already doing it. But on the other hand it definitely could make good money and would help me learn about SEO and marketing. So basically my question is, would it be better to try and start the “ideal” business which follows all the commandments MJ DeMarco outlines, or just try and start one and treat it as a learning opportunity.

Would appreciate help from anyone!
Thanks, Leo