Buying and reselling products is an excellent way to make extra cash, and sneakers are among the best things to flip.
Although you can resell a mint-conditioned or gently-used sneaker, you’ll find more profit reselling high-end or limited-edition sneakers.
These shoes include sneakers like the Nike Air Yeezy, ‘90s Air Jordan, Nike Dunk, and other models from popular sneaker brands.
Because of the demand from fans and sneaker collectors, the designer sneaker market could reach $289.5 million by 2032.
That’s why if you want to try sneaker reselling, this guide will provide detailed steps to sell sneakers for cash.
Also, get tips and insights to help you manage and grow this side hustle.
- Why You Should Consider Selling Sneakers for Cash
- Problems With Selling Sneakers for Cash
- What You’ll Need to Sell Sneakers for Cash
- The Best Ways to Get Paid to Sell Sneakers for Cash (Overview)
- How to Sell Sneakers for Cash: Step-By-Step Instructions
- Things to Consider When Selling Sneakers for Cash
- Frequently Asked Questions
- Similar Tutorials to Check Out
- Wrapping Up
Why You Should Consider Selling Sneakers for Cash
Check out why sneaker retail arbitrage or reselling makes a good side hustle for anyone.
- High Market Demand: Although niche, sneaker collectors and fans pay good money to get limited edition and designer sneakers. According to Statista, the sneakers segment is currently at $75.77 billion in 2023 and will grow by a CAGR of 5.31% by 2028.
- Low Capital: You need a couple of hundred dollars to start reselling, but you can also thrift used sneakers and resell them for a higher price. If you own a few good sneakers, you can start with those.
- Large Profits: Most resellers put a 200% to 300% markup on their items, especially if they’re high in demand. Also, holding on to sneakers for a long time can increase their value, so you can resell them for a higher price in the future.
- No Physical Locations: Most resellers sell online via social media, online marketplace, or online store, so you don’t need a physical store to start this gig.
Problems With Selling Sneakers for Cash
While sneaker reselling is a lucrative side hustle, it also comes with difficulties.
- Fake Sneakers: It can be challenging to find authentic shoes if you don’t know where to start. Many sell fake sneakers, so you should know where to buy legitimate items and how to spot fake ones.
- Bogus Buyers: Similarly, reselling attracts fake potential buyers who won’t pay their orders. That’s why it’s important to determine trustworthy buyers and set up a secure payment process.
- Tight Competition: Despite the demand for high-end sneakers, you’ll likely compete with established resellers. As a result, marketing your store or service will need more effort to be noticed by the market.
- Changing Market: The market is unpredictable, and it can bring potential harm to resellers. Factors affecting resellers include a flip price that doesn’t meet expectations, unexpected restocks, and a shoe release that doesn’t live up to the hype.
What You’ll Need to Sell Sneakers for Cash
If you want to make quick cash by selling sneakers, prepare the following to get started:
- Internet-Enabled Device: You’ll need a computer or smartphone to research and contact retailers, set up your online shop, market your products, and communicate with customers.
- Online Account: If you’re joining a marketplace, you must sign up and set up a profile or online shop.
- Payment Channel: Determine your payment process, which can be via PayPal, credit or debit card, bank transfer, or cash. It’s best to get a business account since you might receive large sums of money.
- Quality Camera: If you have the items on hand, you must take quality photos to showcase the items to customers and prove your legitimacy.
- Photo Enhancing Software: Use software like Photoshop to enhance your product photos and create marketing materials to promote them.
- Packaging: On-hand items that will be shipped should have good packaging to keep them in good condition while in transit. Prepare boxes, bubble wraps, or eco-friendly packaging materials.
- Shipping Label Printer: Invest in a printer to produce your packing slip and shipping label.
- Capital: Consider how much money you need and where to get it. We’ll discuss more about funding in the sections below.
Start selling sneakers by signing up for these websites.
Since 1995, eBay has been one of the most popular platforms for selling items online.
It also became a go-to for sneaker enthusiasts due to the various online sneaker stores on the platform.
You can create a free seller account and easily add product listings.
Then, determine your selling process if you want buyers to bid on the sneakers or buy them at a set price.
Sneakers sold on eBay range from mint-conditioned or gently used sneakers to athletic training sneakers.
However, note that eBay charges seller fees for your sales.
What Makes This Option Great
Check out eBay if you want to tap into the biggest marketplace on the internet globally.
Also, you can use their two selling modes to your advantage.
You can have buyers bid on a shoe and possibly earn more or sell them normally at a set price.
Overall, it’s one of the most accessible platforms for selling sneakers online.
- Fees/Commission: Sellers without stores pay an 8% fee, while those with eBay stores pay a 7% fee.
- Payment Methods: Bank account
StockX is one of the trusted e-commerce platforms for buying and selling sneakers, electronics, apparel, and other collectibles.
You can find a range of shoes sold on the platform, such as Air Jordans, Adidas Yeezys, and collectible sneakers from popular brands.
The platform enables buyers and sellers to make anonymous offers for an item.
You can only make a sale if you and the buyer agree on a price.
StockX has an authentication center, and you must send them your sold items within two business days.
What Makes This Option Great
Creating an account is easy since you don’t need approval; you only need to set your payment method, currency, and product listing.
Also, StockX’s unique bidding process allows you to get the price for your items or sell them quickly.
- Fees/Commission: A processing fee of 3% and a transaction fee from 8% to 10%, depending on your level.
- Payment Methods: PayPal, bank account, Venmo, or debit
Poshmark is a great option as well since it offers a marketplace for new and secondhand apparel, home decor, and more.
Anyone can create an account, buy on the platform, and sell popular sneaker brands or used shoes, making the platform highly accessible.
To start selling your high-end sneakers, you only need to upload a photo of your product, write a description, and set a price.
However, keep in mind that Poshmark charges seller fees.
What Makes This Option Great
Besides the easy process of selling your sneakers, Poshmark provides a free prepaid label and credit card processing.
To ship the package, you can mail it via a USPS mailbox or have it picked up from your home.
Also, Poshmark automatically calculates, collects, and remits your sales tax, so you don’t have to worry about it.
- Fees/Commission: Sales under $15 have a flat commission fee of $2.95, and sales above $15 have a 20% fee.
- Payment Methods: Bank account
How to Sell Sneakers for Cash: Step-By-Step Instructions
Follow these five steps to start selling sneakers.
STEP 1: Learn About the Market
Start by researching the market, such as the best-selling sneakers and the best platforms to sell them.
More importantly, look for retailers or consignment shops, like the Flight Club, to get the best deals for high-end and designer sneakers like an Air Jordan 1 Retro, Nike Dunk, and Adidas Yeezy.
Also, learn about the different bidding platforms and auction sites to get limited-edition sneakers.
Overall, understand the process of reselling shoes to know what to expect, how much you need to invest, and sell sneakers successfully.
STEP 2: Set Up Your Online Store or Account
Sellers have lots of options on how to sell sneakers.
You can choose online marketplaces like eBay, Amazon, and Facebook Marketplace or try social media platforms like Instagram, Facebook, and Twitter.
You can also create an online shop from scratch if you’d like. Regardless of your choice, what matters is to determine which platform you’ll use.
While setting up your account, you should also determine your payment process. Will you accept debit cards, credit cards, cash, or PayPal payments?
Regardless of your payment options, it’s best to have a separate business account since you might receive large transactions, especially if you’ll sell actively.
STEP 3: Upload Quality Photos and Descriptions
After setting up an account, you must create your product listings, and the most crucial part is your photos and descriptions.
Take high-resolution photos to showcase the item and its details better.
You can also enhance the products using Photoshop to make them more attractive to buyers.
Check other sneaker-focused sites for inspiration on how to take photos of your shoes.
Meanwhile, when writing product descriptions, describe the product in detail and use the right names and keywords so buyers can find them easily online.
STEP 4: Price Your Sneakers Accordingly
Resellers often have a high markup on sneakers due to their demand. However, looking at the competition is the best way to determine your sale price.
Check how much other online sneaker stores charge for their products to know how to set your selling price. Note that other sellers have competitive prices, so see how high or low you can go.
Also, consider including your shipping costs when setting prices since most sellers pay for them.
STEP 5: Sell Your Sneakers
When your online shop is open, promote your products and communicate with buyers to sell your sneakers successfully.
You can create marketing images or ads to promote your sneakers and store during the selling process. You can also invest in online ads.
Moreover, focus on building credibility and providing excellent customer service, so customers can spread the word and keep coming back.
Some tips to improve your customer service and reputation include selling shoes in mint condition and showing your receipt or proof of where you bought the sneakers to provide your authenticity guarantee.
Things to Consider When Selling Sneakers for Cash
Consider the following factors first before pursuing this side hustle:
1. Learn to Identify Fake Sellers and Sneakers
To avoid purchasing and selling fake sneakers, only buy shoes from consignment stores, authorized sellers, and trusted e-commerce platforms.
Avoid non-store sellers, and check the seller rating and reviews.
Also, always ask for photos to compare with online images and receipts to confirm their authenticity.
Never proceed with a payment process unless you’re sure you’re buying authentic shoes.
2. Know Where to Get Your Capital
How will you finance your sneaker-selling side hustle?
If you already own a pair of quality sneakers, you can start by selling them and using the money as capital to buy new ones to resell.
You can also go to thrift shops and resell the shoes for a better price.
If you have extra money, invest in buying new in-demand sneakers and sell them for a reasonable markup.
While considering funding, learn more about other extra costs you might encounter.
3. Strategize to Beat Competitors
Reselling sneakers is a competitive market, so you need to consider ways to capture your market and make them buy from you.
Some strategies you can try include creating unique marketing or selling for extremely low prices.
You can also simplify your selling process or provide a convenient payment process to give potential buyers convenient transactions.
Frequently Asked Questions
Can I Sell My Shoes to Nike?
No. Nike doesn’t buy new or worn shoes.
However, they accept returns if you no longer want your shoes.
Is Reselling Sneakers Hard?
Despite its demand and profitability, reselling sneakers is hard due to the tight competition.
Some brands like Nike have also taken strict measures to limit or ban resellers.
What Is the Easiest Place to Sell Shoes?
One of the easiest platforms to sell shoes is eBay, given its wide reach and easy account setup.
You can also sell used shoes on the platform.
Similar Tutorials to Check Out
If selling Adidas Yeezys doesn’t interest you, learn other ways to earn money with these tutorials.
- How to Make Jewelry to Sell: Discover how to make and sell various jewelry online and offline.
- How to Sell a Wedding Dress: Find the best platforms to sell a wedding dress to earn extra money.
- How to Sell Clothes to Plato’s Closet: Learn how to sell gently-used branded clothes, shoes, and accessories on the Plato’s Closet website.
Sneaker reselling is a low-cost and profitable side hustle for anyone, and if you’re a sneaker fan, it can be a fun way to make money with your hobby.
We hope this comprehensive guide helped you learn more about selling sneakers and how to get started.
Let us know your thoughts about this side hustle, and feel free to share the article with others if this is helpful.