The Young Money Club

This month I’ve challenged myself to make some extra money. My goal for the month is to side-hustle my way to $1,000 in any way possible. My main strategy to do this was to flip items for profit because it can be used to generate a good return in a short period of time.

Week 3 has just finished and not much has changed in the last week. It’s not much but here is an updated look at my numbers and what I’ve done over the last few days.

Progress

Income

$75ish – Working part-time

$10-Quora Partner Program

Expenses

$140ish – Shoe Purchases

Comments

If you’ve read some of my other posts about this challenge, you probably already know that $1000 is basically out of the question unless a miracle happens.

Up until now I’ve spent about $400 on shoes to resell. If all of them end up selling I will more than double my money. That is….if they sell. This has been the primary struggle throughout the entire process.

In the beginning I expected to be able to buy shoes, list them on ebay, and sell them within a week or two. This would probably be true of brand new, hyped shoes like Yeezys or Jordans, but not so much of cleats and track spikes.

These were the 2 categories of shoes that came recommended online as the easiest to flip for profit, but in practice have shown little results. Maybe I’m a little too impatient and a month isn’t enough time to see results. If that’s the case, I’ll find out eventually and let you guys know.

I tried something a little different this week and bought 2 pairs of lifestyle sneakers that I believe will appeal to a larger consumer base. These were more expensive to purchase but if they sell for what others have in recent months I should net about $40 per shoe. A decent step up, in profit margin but that still depends on them selling.

Moving Forward

Moving forward I plan on continuing to try and flip shoes and hopefully figure out what works and what doesn’t. I’ll be sure to share my future experiences through blog posts and hopefully we’ll be seeing more sales in the future.

Looking even further past the challenge, I hope to make some of my money back through selling shoes and then move into the world of Amazon FBA, where there are more sales and more room for growth.

Stay tuned for more.

If you haven’t checked out my last post you can do so here.