It’s not easy to start a successful resale side hustle, much less to grow several stores as well as an online presence that captures millions of followers and dollars in sales per year. What do these resellers really do to make their operations so successful?
Step one is getting people in the door (literally, or figuratively through online channels). Generating strong and recognizable marketing, specializing in certain types of products, or offering products at lower prices are common ways for stores to grow. Nearly every high-performing store picks a certain niche and runs with it (i.e. if your store is going to focus on having a great collection of grails, basketball shoes, or running deals on Whatnot, you need to be noticeably better than the rest). Having a strong and distinguished brand goes a long way.
Regardless of the way a store gains customers, there are problems that will arise with an increasing number of customers. As Virgil Abloh said, “you can have a great idea, but systems are what let it live.” What are these systems that help stores scale?
🗃️ Organization and Tracking are fundamental to any businessperson, but especially resellers. Being aware of margins across different selling platforms, different shoes, or shoes in different sizes is hugely important. How can you know how to improve when you don’t know what’s working (or not working)?
🔑 Consistency and Reliability create customers who come back. Shipping items out immediately, following through with every sale, and creating the best-possible experience for the customer will turn one-time customers into repeat customers, benefitting your reputation and bringing word-of-mouth sales.
🏎️ Movement and Margin are the important factors in sneakers. High-volume resellers do not worry about trendiness or even collectibility, they think in cycles – buy, list, sell, reinvest. A faster cycle creates more buying power, and a lower margin in exchange for faster liquidity is a win.
Written by Mateo Moyon