Industry Numbers That'll Knock Your Socks Off
The global footwear resale market is expected to reach $30 billion by 2030, with athletic footwear representing the largest segment. The sneaker resale market alone generates over $6 billion annually, with some rare pairs appreciating 2,000% or more in value. Platform fees typically range from 8-15% of sale price, while successful resellers often achieve 30-50% profit margins on their inventory.
Business Name Registration Considerations
You'll need to register your business name if it differs from your legal name or LLC name. A catchy DBA (Doing Business As) like "Sole Survivor Sneakers" or "Lace Chase" can help with branding and customer recognition. This registration protects your name within your jurisdiction and allows you to open bank accounts under that name.
Quick Answers to Common Questions
Do I need all these licenses to start? While you can technically start small without some permits, operating legally from day one protects you from penalties and establishes credibility with suppliers and customers.
Can I operate as a sole proprietor? Yes, but an LLC provides liability protection and professional credibility that's worth the modest additional cost.
Ready to lace up your business legally? You can obtain all documents and licenses you need on this site, online! 🚀