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What are the pros and cons of running a sneaker business and re-selling/flipping sneakers for profit?
Kevin, age 19
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Hassan’s Answer
I'm sure a few social media stars makes this look easy and fun, but it's real work with potential benefits and risks.
This isn't any different than buying and selling other commodities. The key is to have access to supply at the right cost and buyers to sell to at a profit. Obviously, you'd need capital to start which can range from a few hundred $s for basic shoes to tens of thousands of $s for high-end collectible ones. You'll need real expertise to authenticate shoes or you'll get stuck with expensive fakes.
The Pros are that sometimes you get to try out cool new shoes and make a profit. Cons are that many people don't make much money, If it was easy then everybody would be doing it and there wouldn't be much profit in it.
This isn't any different than buying and selling other commodities. The key is to have access to supply at the right cost and buyers to sell to at a profit. Obviously, you'd need capital to start which can range from a few hundred $s for basic shoes to tens of thousands of $s for high-end collectible ones. You'll need real expertise to authenticate shoes or you'll get stuck with expensive fakes.
The Pros are that sometimes you get to try out cool new shoes and make a profit. Cons are that many people don't make much money, If it was easy then everybody would be doing it and there wouldn't be much profit in it.