Sneak City started in a garage. Now, they bring in more than $400,000 a month across their online store and two brick-and-mortar locations. Find out how they started a profitable sneaker reselling business in this interview.
This video has been sponsored by TailorBrands. Get your LLC for your business and more with Tailor Brands: bit.ly/tailor-brands-offer
Tia started reselling sneakers and clothes she bought in thrift stores for some extra cash in college. She quickly realized the high demand and profit potential and started growing the business, first with a Shopify store and then into their first brick-and-mortar. Now they have a team to help run their stores. We’ll find out how they built that team and how Tia and Anastasia’s role in the business has changed as it’s grown.
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The key to this growth is also the industry’s biggest challenge: buying sneakers can be expensive. Tia and Anastasia explain how they keep inventory costs low so they can make up to 30% margins on each sale. You’ll also hear the key skills to open a sneaker reselling business and how those have helped Sneak City grow so quickly, along with some tips for how to get started if you don’t have a lot of cash on hand.
Once you have shoes to resell, the next step is getting them to buyers. We’ll learn how Sneak City uses its 100,000 RU-vid subscribers and other social media platforms to attract and engage with customers. It also helps to have a brick-and-mortar with lots of foot traffic, and you’ll hear how that influenced where they opened their second location and the value of a physical space for a reselling business.
If you like this interview and want to hear from other entrepreneurs in the clothing industry, check out some of our past videos:
Opening a $102K/Month Boutique Business (See What It Takes) ►
• Opening A $102K/Month ...
How to Start a $120K/Month Clothing Line (On a Shoestring Budget) ►
• How to Start a $120K/M...
Resources
www.thesneakcity.com/ - Learn more about Sneak City at their website
bit.ly/tailor-brands-offer - Get your LLC for your business and more with Tailor Brands
www.upflip.com/podcast - Hear more interviews with business owners and experts at the UpFlip podcast
www.upflip.com/blog - The UpFlip Blog, a great source for actionable advice on starting or growing a business
www.upflip.com/courses - Check out our business courses taught by real entrepreneurs
Timestamps:
00:00 - START
00:45 - Meeting Tia and Anastasia
02:04 - Personal sneaker collection
03:17 - New location tour
04:16 - Getting started
05:04 - Skills you need
05:35 - Tour of headquarters
06:32 - Store layout
08:17 - Drivers of their success
08:58 - Team and management
10:42 - Talking numbers
10:54 - Overhead costs
11:17 - Online vs. retail sales
11:54 - Reseller niches
12:28 - Using RU-vid to grow a business
14:06 - Other social media
14:56 - Where to get reselling inventory
15:40 - Online store platform
16:29 - Fan blitz
17:39 - Value of brick-and-mortar
19:03 - Business mistakes
20:08 - Buying shoes to resell
22:44 - Employees and team
23:30 - Evaluating inventory
25:47 - Managing workflow
27:09 - Challenges
27:39 - Outro
#sneakers #sneakerreselling #howtoresellsneakers
22 май 2024
