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How do I tell my mom I want to resell sneakers for a living?

I am a 16 year old "huslter" out here in California, many people have told me that I am able to actually finish through on it. I have had some crazy flips on items from buying supreme tees for $48 and reselling them for $100+. The sneaker game has gone up crazy and I know so much about it that I can actually make thousands a week, take the iconic sneaker from "Back to the Future" the Nike air mags that released in March of 2016 having a resell price of $20,000+. It all started off in 9th grade when I went on a black Friday shopping spree at CoolKicksLa on Melrose home to the streets of hype. I invested $4000 on clothing and shoes and at the end of reselling all items within two weeks believe me or not i can back with more $6000 of profit, not only did I double my money, I had buyers wanting more. As of now I am still reselling items via Grailed, Stockx, Bump, and Goat and making money to save up for a car. I hope this can be a start of me opening up a store, but how do I tell my family that I want to make this serious business? #entrepreneur #reseller #flips # #business

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Katya’s Answer

Daniel, you've got mad entrepreneurial skills! You seem to know what you are doing. Congratulations on finding your passion. Entrepreneurship is based on problem-solving. Find a problem, provide the solution. It seems like it is built in you. All you need is to take these mad skills you've got, find partners you can trust and make the world a better place (and be rich in the process).

If I am one of your folks, I will be so proud of you.
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Lewis’s Answer

This one is a business where you can either sink or swim. I manage a footwear & inline apparel retail store and trends come & go quickly. It sounds like you have an idea of what the pulse of your customer & market are, but you have to stay on top of that. Supreme is hot now, but what is the next coming to this resale customer?

- Know trends: Stay educated on what is hot, especially with major streetwear markets like London and Tokyo

- Know your product: Is it legitimate and not knock-off or B-grade? If it's TOO GOOD to be true, it;s probably fake

- Past successes: Offering some examples to your parents of others before you who took a similar path (Benjamin Kickz & Round Two are examples of extreme successes, but successful, no less)

- Show there's a market: Present to your family a business plan. Show them your sales #'s, places where you can operate a business and a 5-year plan. Repeat customers, savings for expenses, profitability margins and knowledge of overhead. All of this and more are needed to grow your business into a store, so why not get your biggest supporters behind you with a better understanding of your direction?

Brick & mortar retail can be expensive and is becoming difficult to maintain. You may consider creating your own online store, as a next legitimate step. Especially in the current state of the world, online shopping is up considerably. Explore a "home base" for clients who find one of your items for sale, to find additional items to purchase then or come back later!

Knowing what you're interested in at your age is epic, especially since you're already participating in and finding success with it. Good luck to you and continued success on your passion & journey!
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Steve’s Answer

Hi Daniel,

You sound like a natural for sales, marketing, and entrepreneurial careers! There's no need to choose between pursuing your business AND learning the skills you'll need to make it big time. After all, plenty of students have part-time jobs.

Take a look at schools with business majors where you can focus on sales & marketing and becoming an entrepreneur. There are lots of great programs right here in Southern California, such as the Merage School of Business at UC Irvine:

https://merage.uci.edu/programs/undergraduate/index.html

Pursuing your business degree, while running your business on the side, will allow you to learn the key skills like marketing, finance, strategy, digital, and more that you'll need to take your company to the next level and beyond.

Good luck!
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Terhan’s Answer

It's awesome that you have found a passion and want to start your own business early. Your parents are likely to be concerned about long term benefits that most 'regular' jobs provide like health insurance and retirement income. In order to ease your parents concerns, continue to provide your sales/tax data, research to cost of insurance, healthcare, and retirement savings, and make sure you finish your education.
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Becky’s Answer

As a parent, I'd take you serious if you brought me evidence and data. It shows that you are taking the business serious and not just a hobby. Show them profit and loss statements like you are talking about. Show them the systems and processes you are using. Also include some future looking ideas and the plans you intend to use to get there. Let them see your passion while still seeing your business mind as well. Take emotion out of the conversation.

Give them ways that they can help you and support you. But do not include ways for them to financially support your business. Show them you can run this venture on your own. Then shut up...Listen to their advice. (I didn't say you had to take it...just let them give it.) Ask questions and let them be proud of you.

You're doing great! Keep it up hustler!
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Jose’s Answer


Good morning:

Exactly as you explain, with hard numbers and presenting a medium and long-term work plan.
Surely your concern will be the income and that it can last a lifetime.

Likewise, I recommend you not to leave your studies and to be able to combine this business with your studies, so you can have your own and if needed, you will have the curriculum you require for a job.
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