Are you wondering, how to resell sneakers? Well, you have come to the right place. In this ultimate guide, we have mentioned everything: from some of the best places to resell your sneakers to the most important things to consider!
Reselling sneakers is quite a straightforward process. All you need to do is find a pair with a high resale value, buy multiple pairs at a competitive price, and resale for a healthy profit. Reselling sneakers is considered a legit business that can make you rich in no time!
Like all other businesses, you must do your homework before investing your money. This article will be the only guide you’ll ever need to resell sneakers.
So, without further ado, let’s get into it!
Contents
Can You Resell Shoes Legally?
Let’s start with the most basic question: is reselling sneakers even legal?
The short and simple answer is, YES! Any product (including branded sneakers) purchased lawfully is legal to resell. You don’t even have to purchase that certain product from an authorized source. This means if you purchase Nike’s shoes – even from a third-party platform – you can legally resell them!
Of course, you’ll have to report your income to the tax authorities. If an individual resells a higher volume of sneakers, he/she will be considered self-employed and taxed accordingly. Alternatively, if a reseller sells low volume, the profit can be reported as a hobby income.
Reselling sneakers is, in fact, the main mode of operation in the footwear industry. You’ll see many affluent people, including Instagram influences and YouTubers, reselling sneakers. So, you don’t have to worry about legality. Still, you’ll need to overcome some obstacles, including sales tax, product refund, and other issues.
How Much Is Sneaker Reselling Worth?
According to an analysis, the sneaker reselling market is worth more than $2 billion just in North America. With a proper guide, you can easily make five figures just by reselling sneakers. Teenagers like Rashed Belhasa and Benjamin Kickz are making $10,000 per month just by reselling shoes.
The sneaker resale market is growing rapidly, and there’s no denying it! According to an estimate, this market has the potential to become a $30 billion industry by 2030. These numbers are quite impressive considering the higher level of competition among international brands!
Do I Need a License to Resell Nike Shoes?
No, you don’t have to get a license to resell Nike shoes. Once you get the shoes, you’ll be the owner of the particular pair. Afterward, it’s totally up to you to use it yourself or resell it.
That being said, you need to be an authorized reseller if you want to use Nike branding. This means you can resell Nike shoes using your own brand name. However, if you want to use Nike’s brand name, you’ll need to register as an authorized reseller.
Top 9 Online Platforms to Resell Sneakers
You cannot expect to make five figures by reselling sneakers door to door. That’s not how this market works. The best approach for you is using an online platform. To earn more, you need to target as much as potential clients as possible.
Thanks to the internet, you can become an international reseller without registering a multi-billion-dollar company. All you need to do is pick a platform, upload your shoe description and start reselling. It might seem like a straightforward process, but it requires a lot of research and consideration.
To become a successful reseller, the most important thing for you is your online presence. There are hundreds of platforms out there that allow you to resell sneakers, making it hard for you to pick a single one. To help you out, below, we have compiled a list of the top 9 online platforms to resell sneakers:
1. StockX
When it comes to the best and most popular platform to resell sneakers, no other option can beat StockX. Due to its fast customer service and legitimacy, StockX is loved by millions. It has both a website and an app, making it the most convenient option out there.
Initially, StockX was a pioneer in the shoe reselling industry. However, now you can sell tons of other items on this platform besides sneakers. StockX is not for you if you want to sell used products. To resell sneakers, you are required to have unworn, brand-new pairs. In addition, they must be entirely deadstock!
StockX is quite strict about its policies. Resellers can enjoy an authentication service using this platform. Once a buyer picks your sneaker on StockX, you’ll get a shipping label. You’ll need to ship the product, and StockX will authenticate your sale and pay you!
We recommend StockX because you can get access to a large amount of data and charts. This one is the only sneaker reselling platform available out there that provides information about selling data and trends.
Seller Fees on StockX
The total seller fees on StockX depend upon a reseller’s level. For instance, if a 1-level reseller is required to pay 10% basic transaction fees on each sale. As your level increases, the transaction fees will decline as well! Besides the basic transaction fee, you are also required to pay 3% payment processing fees!
2. Instagram/Facebook
According to an estimate, 4.7 billion people all around the globe now use social media. So, why not target all of them to resell sneakers? Instagram and Facebook are two of the biggest social media platforms that you can pick to resell all sorts of products.
Recently, Instagram has introduced the “Marketplace” section, meaning people can sell products using Instagram from the comfort of their homes. If you don’t want to use the Marketplace, you can even resell sneakers using your Instagram business account.
Reselling on Instagram and Facebook is simple and convenient. You can even link your online shops to get traffic. For instance, create a Shopify store, link it to your social media account, and start reselling. All you need to do is create attractive posts and be interactive with your potential clients.
Seller Fees on Instagram/Facebook
For all product categories, Instagram and Facebook charge a 5% selling fee per shipment. If your product is worth less than $8, you are required to pay a flat fee of 40 cents per shipment.
3. Flight Club
Next, we have the Flight Club. This platform has been in the business for more than 15 years and has revolutionized the entire sneaker resale market. The Flight Club allows you to resell your products from both physical and online stores.
Flight Club is a place for rare and worthy shoes only! You cannot just buy a $10 worth of sneaker from a local vendor and sell it on this platform. You’ll need to get high-quality rare sneakers. You have to pay close attention to this point. Otherwise, you might end up compromising your account authenticity.
Unlike other online platforms, Flight Club has several physical locations as well. To get a better idea, you can simply visit a store, talk to a professional, get a better understanding of your earnings, and then submit your pairs.
Seller Fees on Flight Club
Pricing your shoes on Flight Club is one of the most important steps. The company takes 9.5% on each sale, 2.9% on each cashout, and a $5 seller fee. Therefore, you need to price your shoes accurately in order to get the desired profit.
4. Grailed
Another popular platform that deserves a spot on our list is the Grailed. This one is a preeminent marketplace for men’s streetwear and fashion – obviously, this includes sneakers as well. Using this platform, one can resell both new and used sneakers while making a huge amount of profit!
The only downside of Grailed is that it does not provide a traditional SKU system. Instead, you’ll get SKUs for a massive number of in-demand sneakers. The company is adding new product categories every single day. You’ll need to create multiple listings for different types of sneakers, which is certainly extra work!
Seller Fees on Grailed
Grailed charges a 9% seller fee on all sales, so be sure to price your shoes accurately. In addition, you’ll need to pay the transaction fees separately, which vary depending on your selected payment method. The company does not provide exchanges or returns, so make sure you are selling only good-quality products.
5. Stadium Goods
Stadium Goods is a premium aftermarket place where people can buy sneakers that are no longer available in official stores. This means if you can get your hand on some rare sneakers, you can easily make a leaving using the Stadium Goods.
Recently, Stadium Goods has started the “Source by Stadium Goods” program. This program allows consignors to buy and resell products in bulk. You don’t even have to physically touch the inventory and pick the “hands-free” bundles.
Once you register a listing, the Stadium Goods will market your sneakers on different platforms, including Amazon, Farfetch, and eBay, offering you more exposure. This means even if you just use Stadium Goods to resell shoes, you’ll be able to attract a decent amount of traffic.
Seller Fees on Stadium Goods
Stadium Goods takes 20% of the listing price, which is certainly too much. Once you sell a product, you’ll be notified via email and then request a direct deposit payment. The company charges an additional 1% on the payment processing fee!
6. GOAT
GOAT is another platform known for low-hassle, speedy selling of current-day hype shoes. For convenience, the company has created a user-friendly app that is quite interactive and easy to use. Compared to eBay and other platforms, this one is less complicated and offers tons of helpful data.
If you can get a certain pair of shoes in person on the day of the release, GOAT is an excellent pick for you. It allows you to list new sneakers for a higher price than eBay. Moreover, most people buy new shoes in higher volumes on the release day using trusted platforms, like StockX and GOAT – instead of using eBay!
With GOAT, you can maintain a seller reputation of 100 or above easily. Of course, you’ll be penalized each time your product arrives not as described. The platform is all about buyer satisfaction, so be sure you send out your sneakers within 2 business days!
Seller Fees on GOAT
GOAT charges a commission fee as well as a seller fee that can be around 9.5%. GOAT is known for its super simple shipping procedure. They have flat rate shipping with UPS, that’s just $5, which will be deducted as the seller’s fee.
7. eBay
in 2022, eBay ranked #2 in the eCommerce & Shopping. According to the Digital Commerce 360 Marketplaces Database, the company is the 5th largest marketplace out there. It allows you to resell both used and new sneakers.
In used condition, eBay has more than 1 million completed sold listings related to the shoe category. You can use this platform to sell all sorts of kicks and make a handsome living. Reselling shoes on eBay is certainly more complex than on other platforms, but due to its popularity, you’ll be able to resell sneakers quickly and easily.
Seller Fees on eBay
eBay is offering 0% seller fees on sneaker sales. Yes, you don’t have to pay even a single penny as commission as long as you are selling athletic sneakers worth over $100. This applies to both men’s and women’s kicks. That being said, you are still required to pay the payment processing fees, depending on your payment platform!
8. Independent Consignment Stores
If you don’t want to partner up with the resale platform, sneaker consignment stores are the perfect place for you. This approach offers independence. You have the freedom to choose the sneakers by any means necessary.
Once you get your hands on pairs, you can simply sell down to the closest consignment store. There are both physical and online consignment stores available out there. On submission, your product goes through a legit check and gets properly priced.
The price of your sneakers will depend upon several factors, including the quality of the sneaker, outsoles, insoles, and how clean they are! Using independent consignment stores, you can easily resell your deadstock kicks for a price that the store sets with a split.
Seller Fees on Consignment Stores
The consignment store will take commission over each sale. The commission will be mutually agreed upon by both parties. On average, a consignment store can get up to 25% of the price of your sneaker. Moreover, you’ll get your money when someone buys your shoes, not when you hand them in!
9. Round Two
Round Two is a popular resale outlet on the Lower East side. You can consider it a consignment store. However, you’ll get paid upon the delivery of your sneakers. To secure the highest profit possible, make sure you know the actual worth of your sneakers and negotiate!
To resell your sneakers with Round Two, you’ll work directly with the store to agree upon a price. The price will be determined by the shoe in question’s sales history, quality, insoles, and outsoles.
Seller Fees on Round Two
The payment process for reselling sneakers at Round Two is unique and different from other stores. They will buy your kicks outright from you on the spot. This means you are actually reselling your sneakers on your own – instead of hiring the Round Two’s staff to do it for you!
How To Resell Sneakers – Step-By-Step Instructions
Now that you know all the popular platforms to resell your sneakers, it’s time to ask: how to resell sneakers?
As no two platforms are the same, the same goes for their selling process. While some platforms (such as StockX and Stadium Goods) require you to create a proper listing, others allow you to resell sneakers in person (such as Round Two).
To give you a better perspective, below, we have mentioned a step-by-step guide explaining how to resell sneakers and make five figures:
Do Your Research
The first step is, of course, doing your research. To create a five-figure income by reselling sneakers, you need to invest your time before you invest your money. You have to learn all about this industry. Its pros and especially its cons.
Mostly, people start reselling sneakers just because teenager from New York is making $10,000 per month. If you are one of those people, you’ll lose your money in no time. You need to know how that certain teenager is making that kind of money.
There are different types of shoes that you can sell, including:
- Athletic sneakers
- Casual sneakers
- Slip-on Sneakers
- Leather Sneakers
Find out all about sneakers and pick a category. It’s best to pick a single category first and then expand your business afterward to save your money.
Source Your Sneakers
Once you pick a certain category, you’ll need to source your sneakers. If you are creating your own shoes or have extra pairs of sneakers you don’t have any use for anymore; you can start reselling them today.
Otherwise, you’ll need to contact different dropshipping suppliers, wholesalers, and manufacturers. It’s recommended to partner up with a manufacturer or a wholesaler. With this approach, you’ll be able to get good-quality shoes at a lower cost.
There are numerous B2B directories and wholesales (such as Alibaba) available out there that can provide you with ready-to-sell sneakers!
Pick a Marketplace
The next step is to decide where you want to sell your sneakers. We have provided 9 of the best places to sell your sneakers. If you want independence and control, the best pick for you is creating your online store. You can create your store on Shopify and then market your product using your website, YouTube channel, or social media account.
You can also partner up with online marketplaces to resell sneakers. Some of the most popular online marketplaces include StockX, eBay, GOAT, and Stadium Goods. With this approach, you will need to follow their policies. However, you’ll be able to target more people as they market your product globally!
While selecting a marketplace, pay close attention to their selling fee policies. You don’t want to pick a platform that takes half of your earnings! To get the most profit, the best approach for you is to create your online store or sell to independent consignment stores in person.
Price Your Shoes Fairly
Setting the right price is the most crucial aspect of growing the sneaker reselling business. You need to create a balance. You don’t want to set high prices as they will deter customers. Alternatively, low pricing can affect your overall profit. So, make sure to use different pricing strategies to achieve your financial goal.
To determine the actual price of a pair of sneakers, there are different factors you need to consider, such as profit goals, competitor pricing, and product cost. If you are using an online marketplace, you also have to worry about their commission and payment processing costs.
Setup an Online Store or Presence
Sneaker reselling business is all about online presence. You need to showcase your product that is appealing to your potential customers. You can create an online store to build a stronger online presence.
Upload 5-8 images of each product with different angles and perspectives. In addition, don’t forget to do product research and provide complete and accurate product descriptions. You should also market your online store on social media platforms, such as Instagram, Facebook, and Twitter.
Conclusion
Starting a sneaker reselling business is both exciting and rewarding. You can easily make five figures from this billion-dollar industry. All you need to do is follow a guide and stick to it.
We hope you now have enough information to begin reselling sneakers online! If you liked this article, let us know in the comment section, and don’t forget to share the article with your friends and family members.
