Guest
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: 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. Starting a business? Use to save up to $1600 - 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 YouTube 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) ► How to Start a $120K/Month Clothing Line (On a Shoestring Budget) ► Resources - Learn more about Sneak City at their website - Get your LLC for your business and more with Tailor Brands - Hear more interviews with business owners and experts at the UpFlip podcast - The UpFlip Blog, a great source for actionable advice on starting or growing a business - 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 YouTube 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
