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17-year-old entrepreneur made $500,000 selling sneakers in a pandemic - Business Insider

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A 17-year-old entrepreneur made nearly $500,000 reselling sneakers during a quarantine. Here's a look inside his pandemic-proof business model.

in that it charges users a monthly fee for information related to different sneaker releases. Hasbani's business tends to stay away from rarer, hyped sneaker releases. Instead, the teen focuses on selling more mainstream, less valuable pairs that can be bought and sold in bulk. These types of sneakers are generally referred to as "bricks."

"Instead of waiting on line all day for one shoe, I can get five pairs of not so hyped shoes," he said. While a reseller might make $100 to $200 profit on a rare sneaker that takes longer to sell, Hasbani said he can make about $20 a pair on certain bricks, which he can quickly sell in bulk orders of hundreds of pairs.Hasbani said he generally buys around 1,000 pairs of sneakers a week and then splits up where he sells them.

Hasbani said that if he gets 1,000 pairs of one shoe, he will usually split them up evenly among StockX, GOAT, a consignment shop, and a bulk buyer.Sneaker Convention events have been cancelled amid the pandemicHasbani said one of his biggest assets in the industry is his well-developed list of buyers.

 

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Looted stock by any chance 😀

We should actually be asking what were people doing with sneakers during lockdown ...

Isn't how Phil Knight started out....Nike

Well done, he’s got a bright future!

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