You guys, my son just had the side hustle of the year and I still can’t believe the money he made doing it. As a 13-year-old, he just made over $500! I’ll explain.
Background
For the past year, my son has been nose deep into street wear fashion. I’m not a fashion expert but it’s a trend that has been gaining momentum for some time now. If you recall, I’ve written about his obsession a few times: What the F*** is Supreme Clothing. I was shocked to learn that people buy up everything from this Supreme store then resell it on eBay and other places for like a 400% markup and that percentage is not sarcasm.
Like a wolf from Wall Street who just did a line of coke to start the day, my son has been following the release date of shoes as if it’s the stock market. Who’s designing for who. When they are coming out (or as he and the industry call it- dropping). And the going rate of limited edition shoes on resell sites such as Stock X or Goat.
The Hustle
These are the actual shoes that went for $715!
For the past 2 weeks there have been 2 “drops” of tennis shoes that he was prepared to buy then resell. By the way, am I nerd for saying tennis shoes? Should I say kicks? Sport shoes? Ok, forget it, I’m not winning a cool award here so we’re going with tennis shoes. So anyway, my husband offered to be my son’s business partner to get him started. My husband fronted him the money to buy the first pair.
But it’s not just that easy as logging into a website, selecting the shoes and checking out. Apparently it’s a lottery and if you attempt to use shop bots (a system that buys it for you. Basically you ditch in line with these things), you’ll be banned from buying anything. The first drop, he didn’t get the shoes, they sold out. The second drop however, he got them! Final price? $171.
My son has been learning about buying and reselling sneakers for the past year. He’s done this by watching YouTube videos, following existing sneaker flippers on Instagram and learning where to find the best hints of when a sneaker is dropping. So while it’s not back-breaking work, it does require dedication to teach yourself.
The Profit
After getting the shoes, he put them on a reselling site. And do you know how much those things sold for? Are you sitting down? $715! Not $7.15 or $71.50 but SEVEN HUNDRED AND FIFTEEN DOLLARS! WTF? That’s a profit of $544! He has to split the profit with my husband but do you see the lucrative side hustle here?
I told my son and husband I want in. They immediately declined my offer. That being said, I’m looking into how all of this works and a lesson might be in order. My friend NC wants to go in on this with me and we may be doing this. It might come harder for us as we aren’t 13-year-old boys interested in street fashion but it’s definitely worth looking in to.
So do you guys have any side hustles? Are they as lucrative as this? Let me know. I’m always down for making more dough!
P.S. I am super proud of him!
Quite a lucrative endeavor for sure!
I know! Right? He’ll never want to work in fast food during high school after this.
?
Oh. My. Gawd. That’s insane!! Lik super amazing for him but totally insane!!
WTF is with kids all of a sudden getting MY dream jobs?!? What ever happened to scooping ice cream in an un-air conditioned hut for less than minimum wage?
What a guy! Can’t believe what people will pay for trainers :O
I just can’t believe it! So much money!!!
Wow – what do they both plan on spending their money on? Sounds pretty lucrative!
My husband: the basement remodel. My son, more shoes! I’ll be excited to see if he is able to get another pair!
Keep us posted!
That’s like just… I dunno. Screwed up I guess. Good for him but I wish I had such a side husstle.
You could teach yourself? That’s what he did this past year. There are several videos on YouTube on what these resellers did. Did you know it’s a 1 billion dollar industry? Just reselling sneakers!
Wow… That’s unbelievable
I know! I was shocked too.
I bet. Think what you could buy with a fraction of that!
Thanks for sharing. Now I understand what my grandson was talking about and his interest with shoes.
Does he buy and sell sneakers? It all sounded like a foreign language until I saw the profit and did a double take. A 1 billion dollar industry jut in reselling shoes!!!
Yep, He was telling his Dad about a specific pair and the resale value. What I’d call sneakers…..amazing what people will pay for sneakers.