The best way to start reselling sneakers in 2023 is by buying and quickly selling hyped pairs of sneakers. By doing this, you won’t have to worry about accumulating debt in your reselling business and can focus on making a fast profit. The more money you make, the more sneakers you can quickly buy and resell.
Quickly reselling is the best way to start reselling in 2023 because of how high competition is in the sneaker reselling industry right now. There are more sneaker resellers now than ever and because of that, quickly getting paid from your sneakers is the best way to go about it.
The second best way to start reselling sneakers in 2023 is by doing long-term holds, however, that’s a topic for another article. In this article, we’ll break down the best ways to start reselling sneakers in 2023 and how to do it. Reselling sneakers is still profitable in 2023. You just need to know how to play the game.
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Start reselling sneakers in 2023
You can definitely start reselling sneakers in 2023. The market is more competitive than ever before, but there is still money to be made. It’s a great side hustle that can be scaled to make thousands of dollars every month just by buying limited sneakers and selling them. This is why sneaker reselling is a good side gig.
You have to have the right mindset to start reselling sneakers in 2023. Not every shoe you buy will sell for double its value. Learning sneakers that will go up in value is crucial information for every reseller. Certain sneaker brands are more profitable than others.
You will sometimes buy bricks that lose money, it will be hard to sell some pairs of sneakers and sometimes you’ll be stuck with sneakers that won’t sell. You can make more money reselling by purchasing more shoes on the SNKRS app.
Those are just a few considerations to think about if you want to start reselling sneakers in 2023. There are many more that come with the business, but you have to look past all of that. The main goal is to keep turning a profit. Even if it’s just $10 here or $40 there. You’ll never go broke making money by reselling sneakers.
We created an entire post about how to get started reselling sneakers in general.
How much money do you need to start reselling sneakers?
You don’t need any money to your name to start reselling sneakers if you have a credit card available. You can purchase a pair of shoes online with the credit card, resell it quickly and recoup your original investment along with your profit. No actual money is required.
If you’re unable to sell your sneakers and make your money back before your credit card payment is due, you can always save your receipt and return your shoes for a full refund from most major retailers.
However, it’s important you don’t use Klarna to buy sneakers or any other payment plan service. This could extremely hinder you and possibly put you in debt if you don’t pay your purchase off on time.
Best ways to start reselling sneakers
The best way to start reselling shoes in 2023 is by doing quick flips. You want to quickly resell sneakers and make a profit over and over again.
Eventually, you’ll be able to better tell which sneakers are going to be a quick flip and which will be a long-term hold. But if you’re just getting started, quick flips are the way to go. Fast and easy money.
I’ll go over a couple different ways to get started reselling shoes. I’m including different methods to be more inclusive for different resellers to get started, no matter your current financial status.
Quick flip credit card method
This method is my favorite for those who have access to a credit card. Use the credit card to purchase a limited sneaker. This can be done on platforms like the Nike SNKRS app, Foot Locker, Adidas Confirmed app or any other sites and apps that release limited sneakers.
The goal is to buy the sneakers and list them as soon as possible. Selling a pre-order on eBay for the sneakers you just bought is the best way to go about doing this. You’ll get paid within the next two days, long before the sneakers you sold arrive in the mail.
If you don’t sell on eBay, wait a few days and list them on GOAT and StockX. That way, you can ship the sneakers within a few days after they sell and you won’t be penalized.
The goal here is a quick turnaround time. You don’t want to hold any stock at your home. Instead, you’re buying the sneaker and quickly paying off a credit card while keeping the excess as profit for your next sneaker purchase.
This method works great for those using their parents’ credit cards to buy resell sneakers. Once you do this a few times, you’ll be able to accumulate more money to not need this method.
Used shoe method
Another great method to get started is the used shoe method. Do you have any old sneakers lying around? Sell them, they are more valuable than you think. Even if it’s just one or two pairs, they could make for a great startup fund.
High roller method
This method is great if you already have startup money to spend on sneaker reselling. Go all in. Buy every hyped release and either quickly flip them or hold them long-term for about a year or longer. The more sneakers you buy, the more money you’ll make. It’s as simple as that.
Many of us can’t afford to take this route, but if you can it’ll be easier to get started making money. You have to spend money to make money and the more spend, the more you can make.
How to start reselling shoes in 2023
If you want to start reselling sneakers in 2023, you’ll have to focus on building your capital. It’s how much money you have in your business that can be used to purchase more sneakers. The more capital you have, the more inventory you can sell.
You can do this in a number of ways, but the best way to do it is by doing quick flips like we just went over. You can also start selling by using shoe cleaner and reselling sneakers you’ve cleaned up.
Once you start to build your capital up and your business grows, you’ll realize you can afford more sneakers to resell. Instead of buying one pair, you can buy and resell two. That will quickly double from two to four and will continue while your profit also multiplies. One method you could try is holding Yeezys until prices go up.
Start your sneaker reselling business in 2023
There has never been a better time to start reselling sneakers. It makes for a great side hustle and even a side business that is fun to get into. Lawyers and investors even resell sneakers to make money these days because that’s how profitable it can be. Also, see the best sneaker sizes to resell.
The right pair of shoes can bring you good money. Do your research on the market, try to buy and sell your first pairs and accept that mistakes are part of the growing process. The more you learn and grow, the more money you’ll make from sneaker reselling.