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#577 - Six-Figure Sneakers: College Grad Earns $10,000/Month Reselling Shoes


While waiting tables, a recent college grad discovers the world of “sneakerheads.” He then learns to buy and resell shoes, earning a six-figure income and quitting his job within a year.

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are.  Share: #SideHustleSchoolShow notes: SideHustleSchool.comTwitter: @chrisguillebeau

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
What do you think is the most affordable, yet profitable item to resell? We're about an item of clothing specifically, while the answer might surprise you, while waiting tables a recent college, grad discovers the world I've sneakers, had. He been launched to buy and resell shoes earning a six figure income. That's right! A six figure income, including his job within a year, welcome to sign a school. My name is Still about bringing you a different story every day of someone who is creating a little bit more freedom for themselves, they often do this through some creativity through using the skills they already have, but perhaps applying them in a different way, and I don't usually even quit their data, although, as you just heard today, story did exactly that
That's right! It is all about shoes. Six figures in shoes and the guile here about today accomplishes quite a feat all the details coming up right after this quick. Thank you to our sponsor most people leave college. They have a career in mind after complete It agree they had out into the real world and look for work and their chosen. Veal, Gavi or cheese. Wasn't like most people college was over. He was only certain of one thing he wanted to make. On its own terms. We just wasn't sure how to do it While searching for an answer. He got a job waiting tables to pay the bills. The job was to work until it Papa, something better to get the dollar's rolling in you started.
Urging what others were doing to make money online, since there is no shortage of advice on the internet. This lead to him trying a whole by two things that didn't work or just didn't work. Well, he tried selling umbrellas. He tried selling hover boards. He tried selling other random items through Amazon. He tried affiliate marketing. He made some money on those, interest, but it was nothing to write home about them, one day. He read a story in a magazine that changed his perspective. That story outlined A teenager was making six figures a year by flipping that is buying and recycling for profit, high and watches it sounded like a great way to make a living, but Davy had a problem. High in watches were expensive. Watches, like the ones mentioned in the article cost upwards of five figure.
Not exactly the kind of money. A waiter has lying around. Still the business model entreat him. He explored other markets where he might be able to apply the same business model for inspiration. He turned to one of the biggest market places on the planet, Ebay. He scour the recently sold clothing items looking for ones with a high price point. Why clothing? While he chose it over watches or electronics or anything else, because it seemed low risk among the high price fashion brands, a strange I'd jumped out at him? That item was a pair of two thousand fifteen Nike AIR Jordans. It was selling for eight hundred dollars above retail eight hundred dollars above cost after searching a bit more, he noticed it wasn't a fluke. They were consistently sign for that price. This was Jamie's first introduction to sneaker collectors, known as sneaker heads You see there are millions of people out there that love sneakers they conversed about them all day long. Where was it converse and are always
Look out for the hottest new releases for some reason, sneakers have a way of consuming the soul of those who come at them. Just wait! It's not that the shoes aren't available at all. If they are incredibly scarce. The demand easily outweighs the supply where New Perez released people go into a frenzy trying to buy them. Some go as far as to line up four days outside stores with such high demand. Inevitably there will be people who miss out some of those people have deep pockets and will pay for the convenience of having a pair of she's delivered the discovery on Ebay, along with his exposure to the sneaker. Had culture was all the validation Jamie need it anyway. To find a way to obtain the next set of popular shoes upon release, as luck would have it away the following week. Some sneaker stores hold raffles and whoever wins gets the privilege of buying the new shoes that retail price Davy entered one of those Ralph was for a new pair of air Jordans, any one, but they work for him before even went to pick up the shoes he paused to them for sale on Ebay, using stock images.
The retail price was a hundred ninety dollars and Davy saw them for three turn. Fifty dollars right away. A one hundred and sixty dollar profit the ice. The cake was that he didn't even have to spend any money of his own to purchase, though shoes he simply took the proceeds from the Ebay auction. They went down to the store to buy them afterwards. He went directly to the post office had meld those shoes to the buyer. This means the start up costs for his sneaker flipping side. Hustle were effectively zero, zero dollars. That is, of course, quite a feat. Davy didn't do much to celebrate. First sale, but the feeling was intoxicated he didn't want to just make extra money. He viewed it as a way to make a living and stop waiting tables at the restaurant. He took the profit from that first sale and put it toward buying next pair of highly sought after stinkers, then he can being tables import, all his prophet into buying more stickers as his knowledge of the mark.
Grew Jamie realised that there were a pair of sought after she was released about once a week. Additionally, once per quarters high at least one pair skyrocketing demand- and it was sometimes possible to sell those shoes for a thousand dollar profit he had purchased. Then was them on Ebay and then sneak all the way to the bank with money with regular. It is coming in his hustle began to turn into a real business here that anyone could sell a one off pair and make a few bucks. But Jamie had several repeat customers who would approach him directly, asking him to source the latest sneakers. He attributes this repeat business to his customer service, Mindset early on, he realized, if he remained true to his word and was pleasant to deal with, clients would come back for more. It also meant it is reputation spread and he was soon able to work with high net worth individuals even source years for a few nfl, an mba players after about you're Davy was able to quit his restaurant job and go full time. What does that mean.
Where's that look like how much money does he make while the money isn't always consistent, but he's managed to earn a six figure salary for the past two years. That is correct. Six figures flipping sneakers over the next year. He plans to spend more time. Try in the world and like sneakers, he realizes that the only way that works with a pair, he now has a business partner who will handle the physical sourcing and shipping the shoes while he's out and about sightsee. Throughout the process, J B has learned about marketing customer service negotiating and everything else it takes to have a successful side. Awesome is also launched, a new website to teach others how to be successful, reselling sneakers with all his knowledge and experience. It seems like additional success, is issue in that's right, crushed it to him to get it. I went to faint ass extorted. They can rise to J P. I love this six figures. Selling sneakers people who do this they make my life so easy, because just such a great story, I have some
pleasure, enjoying bringing it to everybody else. Ok, so do you think this market would exist? There is the question you think this market would exist if sneaker manufacturers simply made enough of the popular brands for everyone who one of them in the first place. The obvious answer is probably not right. It's a classic case of supply and demand, and I note as they're doing this on purpose, because through scarcity there actually increasing the demand there making at a much more desirable thing So, yes, they could make more sneakers and it could make more money on one particular batch, but I think a lot of them are in it for the long run. So even if they adjusted that inventory going forward there study the matter of all the legacy issues for which there is a strong and active aftermarket. There are still people buying and selling air Jordans from two thousand fifteen and much earlier. So it's a good business for the person. You can figure it out, and this really is the kind of business that a lot of people can figure out. You you clearly dont, have to be an expert in footwear fashion. It's all about managing inventory, it's all about getting a knowledge of what people want and what are the odds
price points in terms about buying and selling so, and I am not saying it's easy like with everything on the show I never used or easier I try not to, but it is definitely possible, like this. Guy was able to figure it out. He was able to decode the process and he's not the only one. So let us be your encouragement for today. There is something out there for you too. Maybe it's not reselling sneakers, but there's something, and I really hope you find it. My job is to bring you as many stories and ideas as possible so that something will spark within you say you know what that's the thing or maybe not that specifically, but that gives me a different idea and it gives me the encouragement I need to move forward. I do hope, can move forward, like I say, every single day, lace up your plan of attack, dont trip on the way out the door, it's time to head to boot. Camp, let's not how it goes every day, but you get. The idea today show notes are online. It satisfies school dot, com, slash, five, seven! Seven! If you wanna check out Jamie's business, her just learned
about the world of slipping sneakers come take a look. You can also subscribe for a free five cents to hustle course. There you can also say hi to meet and get a bunch of other free resources and is well. Thank you for listening, be sure you're subscribed. So much more is on the way my name is critical about, and this is side hustle school.
Transcript generated on 2020-04-28.