Reselling at HANC – How Kids are Making Money in School
March 8, 2019
Let’s face it. Our yeshiva day school makes it really hard to have a steady job. Besides, going through tons of hoops to obtain working papers and going then actually applying for a job can be really tough, and who really has time for that, ESPECIALLY if you’re coming home somewhere between 6 and 7:30?!
So what can you do if you’re a kid at HANC that’s trying to make a few bucks on the side? Well, a couple of kids that you know became their own boss, determine their own hours, and make lots of cash.
Here’s what you need to know about the re-selling game:
What is re-selling?
Reselling is just what it sounds like. You buy something and sell it for a higher amount. This is the fundamental of business – always be making more money than you invest. We’re gonna focus on clothing resale like Supreme and sneakers.
Why do people resell things like Supreme?
I’m sure you considered buying an outrageously expensive Supreme shirt at one point. This is becausereselling is all about the “hype”.
Companies like Supreme only drop merch like hoodies and t-shirts a limited amount of times. Once they don’t sell that item anymore, the value (or the “hype”) goes up, and some people are willing to pay A LOT of money for something that’s their size and flex on all their friends because the guy at HANC with the Supreme backpack is always cooler, right?
How do I start reselling?
Ok, so we asked some people at HANC who have been doing this for a while what tips they have for beginners:
“You gotta know your stuff, like what sells… color, size matters… you gotta be really quick if you want something because a lot of other people are trying to get it too before it runs out.”
Get familiar with social media to know what’s going to drop and be hype.
Get a credit card if you don’t already have one (business depends on it).
Be really quick with checkouts if you want to get your item.
Ask around what would be good to buy if you’re just starting out.
Can anybody resell? Is it easy?
Yes and no.
Ely Shimunov, who retired from reselling, told us that if somebody wanted to, they could start reselling pretty easily; anybody with a credit card and a social media can, but that doesn’t mean they’ll be making money though. Although it’s not like a regular job, it’s really demanding. To be actually making a profit you need to have enough money to invest and also in the right things, Ely said.
So, can you become a reseller while in school? Definitely, but that doesn’t mean you’ll be making money right away. But if you keep at it, and you learn exactly in what and how to invest, you will be turning a profit in no time.