Learn How to Make a Profit Selling Shoes
Today’s guest has a room in his house with over 100 pairs of shoes. It literally looks like the back room of a footlocker. But he doesn’t just wear these shoes, he sells them and makes a profit. Today he’s going to tell us how he does it.
Tim Luong is going to walk us the shoe buying process which includes doing research, how to buy, and sell shoes to give yourself the best chance of making a profit.
You’ll Learn
- How to do research before shoes come out to know if your shoe will be profitable
- How to increase your chances of getting your hands on hard to find shoes
- Why having connects in the industry is important
- What some of the best sizes to buy are
- When and how to sell your shoes so you’ll make a profit
- Researching Shoes to Sell
Researching Shoes to Sell
The first step to getting into selling shoes is to know what shoes to buy. You don’t want to buy shoes that you can’t resell. You can do your research on sites like Kicks on Fire or Stock X.
Shoe makers make limited quantities of certain shoe sizes. The limited availability in size may have a huge impact on price. However, the size may make it easier or harder to sell. The most common shoe size is between 9.5 to 10.5 and normally the safest size to buy if you want to make a profit.
Smaller sizes are ok also because generally guys with small feet and women normally wear those. Stay away from larger sizes at all costs.
How to Sell
The higher the demand for a shoe along with how limited the supply of shoes available determines how much the sneakers price rises.
Tim recommends waiting a week after buying the shoes to turn around and sell them.
His reasoning is it takes people who missed a show release about a week to realize how hard the shoe is to find.
Stock X will tell you what certain shoes are selling for and will allow you to price accordingly. Additionally, they protect buyers from getting sold fake shoes & sellers from not getting paid.
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