Side Hustle #1-Sneaker Reselling

For our first side hustle, we will be talking about sneaker reselling. Most sneaker resellers use the method of buying sneakers at initial market value and then selling them on a secondary marketplace. For example, We can buy a Jordan 1 sneaker from Nike for 170 dollars and sell it on a secondary marketplace such as StockX for 400 dollars. When a sneaker is profitable in the second marketplace, that means it had a lot of attention from buyers during the initial release. It also means that the sneaker was most likely released in a limited quantity. Certain sneakers will almost always gain a lot of attention and will sell out 100% of the time. An example of this would be the Jordan 1 sneaker. The Jordan 1 sneaker will continue to release through the years in different colors, and will most likely continue to sell out each time because of the hype around Jordans in general and specifically the Jordan 1 sneaker.

How do I know which sneakers will be profitable?

It is quite easy to identify sneakers that will sell out. Most of the time resell predictions will be posted on discord servers, youtube, and other social media. https://discord.com/invite/axYKhQh- Space Notify is a discord server that posts resell predictions of different sneakers and where each sneaker will release. However, keep in mind most marketplaces take a fee of around 13%. So if the resell prediction of a sneaker is $250, you should be prepared to receive somewhere around 218 dollars. A frequent starting place of most sneaker resellers would be Nike Snkrs.

Nike Snkrs is an app made by Nike that launches hype sneakers and uses a raffle system to select winners. There are two ways that Nike releases sneakers. A 2-minute raffle and a 10-minute raffle. Nowadays it's almost always a 10-minute raffle. The basic principle is that you should have all of your payment, shipping, and all of your other information stored in the app before you enter the draw so you can enter the draw as fast as you can. All sneakers drop at 10 am EST. When the clock turns 10am (or whatever time it is in your region,) you should have all of your information preloaded in your settings already. Then it will ask you for your sneaker size, Nike password, and often your 3 digit security code on your credit card.

The sneaker size that you should enter should usually be between male sizes 8–13. As a general rule, higher sizes are usually more profitable. However, when sizes are more profitable, that means many people will try to enter for that size (which will lower your chances.) Most of the time, you should go for a more balanced size such as sizes 9–10. Some discord servers even inform members of the number of pairs being released/ size.

You should write down your Nike password somewhere so that you do not forget your password when you need to enter it. If you have a modern phone you should consider enabling "Face ID" in the Nike settings so that you do not need to enter your password. Once you have entered the raffle, you wait.

Do not get your hopes up though, 90% of the time you will not get the sneaker. If you lose, better luck next time. If you win, congratulations! Within the next couple of weeks, you will receive your sneaker.

Once you have received your sneaker, you should prepare for the sneaker to lose a little value. Most people receive their sneakers around the same time and try to undercut each other. If you want to sell fast and get rid of your sneaker, then you should just place an ask on StockX for your sneaker and place an ask $1 lower than the current lowest ask. If you want to maximize your profits, you should wait a couple of weeks and see if you can sell at a good price. Once you have sold your sneaker, StockX will send you a label to print and attach to your package. After you have printed your label and taped it onto your package, drop off the package at your nearest UPS store. Wait and you will receive your profits! Once you do this more often, you will see success and it will get easier each time. Don't be afraid to ask questions in discord!