A LIFE insurance broker left behind the corporate world when her reselling side hustle started earning her $500,000 monthly.
Valentina Zapata founded The Shoe Game Co., which resells thrifted and second-hand sneakers.
After the pandemic, she picked up the side hustle as something positive to do on the side.
“We started with Instagram, then we went to Facebook Marketplace and drove almost an hour for our first “flip,” she told Entrepreneur in an interview.
“We just kept rinsing and repeating.”
Early on, she had to learn what was actually a good deal.
read more on side hustles
Just because she found a pair of sneakers for a low price didn’t mean she would make a large profit on them.
More importantly, she had to learn how to spot fakes.
“This cost us the most money; however we watched videos, learned, and took the losses on the chin and kept pushing,” Zapata said.
The company consistently made $7,000 a month while selling on Facebook Marketplace, but that amount skyrocketed when they switched to Whatnot, a live-selling platform
She took the side hustle full-time within two months of moving to the new platform.
The sneaker category on Whatnot was relatively new, and Zapata got in before the market was over-saturated.
Soon, she was making over $500,000 in monthly revenue.
The Shoe Game Co. now has seven employees and is operated out of a 6,000-square-foot warehouse.
Zapata loves the community of shoppers and shoe collectors she’s connected with through selling.
“Our community is so beautiful—it’s so much more than just selling,” she said.
NIFTY THRIFTING
Fellow reseller Matt (@sandythreadz) has also found success on TikTok for his incredible thrift finds.
He has a strict routine to score the cream of the crop at thrift stores consistently.
Side hustles and tax implications
The extra income made from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payouts from a selling platform like eBay, the site will issue you a Form 1099-K to use in your tax return.
Individuals should calculate their adjusted gross income, taxable earnings, and deductions for the year.
Once they have that, they can use the 1040-ES form to calculate estimated taxes.
Matt gets to thrift stores every Saturday and Sunday right when they open.
He typically visits six or seven stores each day and buys 10 to 20 new items.
“Reselling is such a competitive space that routinely posting items every day is a must to get steady sales,” he said.
Matt specializes in men’s streetwear and vintage graphic t-shirts.
He makes $3,000 a month while working a full-time job as a graphic designer.
There are several other popular side hustles besides reselling.
A TikToker shared how he makes $500 a day painting mailboxes.
And see how to make $12,000 in a month by making Halloween decorations.
I quit my 9-5 at 27 when my side hustle started earning me $500,000 a month #quit #side #hustle #started #earning #month
Source Link: https://www.the-sun.com/money/12043239/side-hustle-sneaker-resell-facebook-marketplace/amp/
I quit my 9-5 at 27 when my side hustle started earning me $500,000 a month
A LIFE insurance broker left behind the … – BLOGGER – WP1, earning, Hustle, Month, Quit, Side, Started
