Many people are into shoes.
So, you’ve got a lucrative side hustle if you’re a sneakerhead with a penchant for selling.
However, only some have the resources to sell a good pair, especially if they’re not collectors.
Some will sell their old pair of shoes, or some will have suppliers of brand-new shoes for a reasonable price.
Flipping items is here to stay regardless of which category you fall into.
So, this article will teach you how to flip shoes and turn them into a full-blown hustle.
What is Flipping Shoes?
In general, flipping an item means buying it for a low price and then reselling it for a higher price.
Although, it is only applicable if you modify the goods or wait for their value to increase over time.
Flipping puts a twist on the usual reselling, which has become a hustler’s favorite way to earn.
If you have a good eye for shoes, you can find cheap ones at the nearest flea markets, garage sales, and thrift stores.
With the help of the internet, you can access even more designs and brands wherever you are in the world.
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How To Flip Shoes?
Buying goods and reselling them sounds like an easy task to do, but when it comes to shoes, it can be challenging.
Because you have the potential to earn from hundreds to millions of dollars, you have a lot of things to consider.
One of them is to find the right market to sell an expensive pair of sneakers and which are the most sought-after.
With the tough competition in the sneakers industry, you need the right approach to attract buyers.
Here are three easy steps on how to flip shoes so you can get right into business even as a beginner:
Find the Right Shoes to Buy and Sell
Like any other business, flipping shoes requires an understanding of the industry to be successful.
While the industry looks fun from a buyer’s perspective, it is a little complicated for those who are selling.
As a seller, it is hard to determine which pairs will grow in value despite their styles.
You can see a pair of shoes and think they don’t look good, but they become more expensive with time.
Or sometimes, what you see as an attractive pair during their release fades along with their prices.
If you want to flip shoes, you can wait for new releases and buy them at retail prices because they are cheaper.
If you buy in bulk, you can save more, but you need to ensure that these shoes will grow in value.
Sites like StockX can help you in this aspect, as they display the cost of shoes over 12 months, like a stock market graph.
Verify the Shoes’ Authenticity
Whether a buyer or seller, you want to avoid getting something fake because, as you can tell, they aren’t as valuable.
Usually, you’ll find issues of receiving fake sneakers on platforms without an intermediary to guarantee sales.
So, if you plan on buying from Amazon or eBay, you need to be cautious because sometimes, a reasonable price doesn’t mean good quality.
It is best to have prior knowledge of shoes because it can help you determine genuine pairs.
If you need help checking their authenticity, you can ask for receipts and actual photos and check the shoe details.
Checking the seller’s profile can also help the verification process because reviews reveal a lot about them.
You have to trust your gut, analyze their provided photos, and decide whether they are genuine.
However, if you have difficulty figuring this out, you can buy shoes on platforms that check the authenticity before shipping.
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List the Shoes in Online Marketplaces
Now that you have the right shoes to flip, you need to find the best sites to list them and earn good money.
One of the best sites to try selling on is StockX because they check the s shoes’ authenticity, allow bidding, and ship internationally.
You will need an account to start selling.
You can only transact with buyers through the platform if you have listings up.
Anyone can bid, and once you decide on the highest bid, you only need to ship the shoes to StockX.
StockX will take care of the rest of the process, including the authentication and shipping to the buyer.
Given these features, you’ll have to pay various fees for commissions, selling, and payment processing.
So if you want a cheaper option, you can go for the usual marketplaces like Facebook and Craigslist.
The only downside of these platforms is there need to be intermediaries, authentication processes, or conditions.
On the bright side, you can transact with your buyers anytime without worrying about fees.
Which Shoes Are The Best to Sell?
Over the years, there has been one brand that most people look forward to, especially for new and rare releases: Nike.
Nike is a sportswear corporation that develops, manufactures, and sells sports apparel.
Aside from the quality of their shoes, they produce attractive shoe designs that many sneakerheads love.
Most of them are regular releases, but for some pairs, they can be exclusive, which you need to keep an eye on.
They also collaborate with artists and athletes, making their pairs even more unique and expensive.
From a seller’s point of view, these pairs are what you need to take note of as they can grow in value.
While Nike is a famous brand among sneakerheads, there are also other shoe brands that people love to collect.
How Much Can You Make From Flipping Shoes?
You can make millions online by flipping shoes with enough resources, determination, and skills.
But for starters, you can earn hundreds of dollars monthly and grow to thousands once you develop a client base.
Many people like to collect sneakers, and scoring their desired pair, regardless of the price, can be fulfilling.
As a seller, it is helpful to research new releases and score them at their retail price before it grows.
Once they are unavailable at the official stores, their prices increase, and that’s where you come into the picture.
The 100-dollar shoe you invested in can turn into $500 or more, which makes it highly profitable.
A good example is the Nike Dunk Low which retails at around $100.
Despite being an initially mass-produced style in the industry, its reselling price goes up to $300.
It is because of the supply and demand, the number of pairs Nike restocks, and the different colorways available.
So when you see a Nike Dunk Low restock notification, make sure to secure it fast as you can easily resell them.
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Final Thoughts On How To Flip Shoes
Flipping shoes may be familiar, but if you want to take this hustle seriously, you must do a lot of research.
While this article provided some of the essential information you need, there is much to uncover in the sneaker industry.
There are the trends in sneakers, where to score the best deals, what are sneakerhead favorites, and more.
But if you don’t want to start from scratch, you can seek the help of professionals to understand this business.
The competition in the shoe industry is not a joke, so you need all the help and resources possible.
Once you get the hang of flipping shoes, you’ll find that it’s a fun way to earn money full-time or on the side.
But if you already consider yourself a sneakerhead, you’ll have a leg up in this business.