For sneaker flippers looking to cash out their collection, GOAT is one of the most well-known platforms around. Founded in 2015, the company acquired long-standing shoe reselling company Flight Club in 2018 and since then has become a preferred platform for sneakerheads worldwide.
As a leading marketplace helping to drive the large sneaker aftermarket, GOAT is making a large group of sellers a solid side hustle or in some cases, a full-time income from their shoe collection.
However, success as a reseller on GOAT requires a strong understanding of the platform, how it works, and its fees so you can compete with other sellers and accurately forecast profit margins.
In this guide, we’ll break down everything you need to know about making top dollar on GOAT as a shoe reseller. While you can also sell clothes and some other accessories on the platform, the majority of revenue is made up of shoes, so for the sake of efficiency, we’ll focus on kicks in this guide.
Let's start by first creating your GOAT seller account.
Setting Up Your GOAT Seller Account
Getting started as a seller on GOAT is a fairly straightforward process. You simply need to create an account on the platform’s website or through their app, and from there, you’ll need to click the “Sell” tab and follow instructions as prompted.
However, the most important thing to know about selling on GOAT compared to other platforms is that they don’t allow just anyone to become a seller.
In order to keep a top-notch environment with quality sellers and authentic items, GOAT is selective in the approval of sellers.
Don’t let this dissuade you from creating an account–as long as you submit authentic information about yourself, you’ll likely get approved to sell, even if this means a bit of a wait before getting the green light.
Creating Listings on GOAT
Once approved as a seller on the platform, you can create a listing easily by following these steps:
1. Search for the shoe you want to sell
Input the sneaker name or SKU to find the shoe model you’re selling.
2. Enter the details for your shoe
In addition to the size, make sure to pick its condition of the shoe and the box, describing everything accurately to reduce any potential dissatisfaction and returns which will affect your seller rating. This is where you set realistic expectations for the product you're selling.
3. Price your product
When you go to set a price for your sneakers, GOAT will suggest a price range based on the current market rate of the specific size and condition. Make sure to set a fair price that will still net you a profit after fees.
4. Upload images for approval
GOAT will prompt you to take pictures of shoes from different angles. Follow these exactly, and make sure the lighting is good so that you can get through this process quickly. Additionally, you may want to upload extra photos of the tag and box to make your listing stand out, particularly if you are selling pre-owned shoes.
Authenticating Your Sneakers With GOAT
GOAT’s main selling point for customers is its authentication procedure, which helps to filter out fake sneakers from entering their platform.
Here’s how their authentication process works:
- Upon a successful sale, you will be instructed to ship your shoes directly to one of GOAT’s warehouses for authentication.
- GOAT’s team of authenticators will verify the authenticity and condition.
- If approved, GOAT will prepare your shoes to be available for immediate fulfillment if they sell.
- If there is an issue, the sneakers will be returned to you. This can cause suspension or banning of your account.
Their authentication process is streamlined, so it typically takes just 1-2 days, especially if you’re selling a newer popular model.
Tips for Making the Most Profit on GOAT
Top resellers on GOAT have a formulaic strategy that allows them to stand out from the pack of average or subpar sellers. By practising these following principles, you’ll be able to join their ranks:
Source the best shoes
As with any reselling business, sourcing the right inventory is the lifeblood of a thriving operation. To pick the best shoes to resell, monitor release calendars and stay informed about trends by following official accounts in the sneaker industry. It’s only the best shoes that yield the highest profit margins, and releases sometimes happen so fast that only those who are in private groups equipped with real-time monitors can successfully score them.
Additionally, you should diversify your business in between hyped drops by sourcing past released, top-selling models for below-market prices either new or used in great condition.
Use an optimal pricing strategy
If you want to sell your shoes for maximum profits while maintaining consistent cash flow, you’ll have to price strategically. As a rule of thumb, GOAT’s price suggestion is a good baseline and often works.
However, you’ll want to factor in seasonality and current hype. If a shoe just dropped, you can generally price on the higher end of their suggestions as there’s a chance cheaper available inventory will sell out. Price lower for past drops so you can move inventory quickly and free up cash flow to reinvest.
Effectively manage inventory
As you scale it may become easy to lose track of your stock and sales. Use a spreadsheet to organize your inventory. Track key metrics like when you bought the shoes, where, and for how much in addition to how much you hope to sell the pair for, calculating its expected profits as well.
This is a good habit to form even if you are only selling a few pairs of shoes at a time. If you hope to scale to a thriving business, you’ll have to do this eventually so it’s better to get used to doing this earlier rather than later.
As you build a history of sales, you’ll get an understanding of how fast shoes should move, and you’ll reduce pricing accordingly to keep your cash flow healthy.
GOAT Seller Ratings: How to Become a Top Seller on GOAT
GOAT is unique in its seller reputation score which affects the exposure and reach of your inventory in addition to the fees you’ll incur as a seller. If you want to become a top seller, you’ll need to achieve the following:
Maintain seller standards
GOAT uses a point-based system to rank sellers. Here’s how it works:
- The point system is out of 100 which is the highest score
- Points are added or deducted based on performance
- Shipping on time (within 3 business days maximum): +2 points
- Late shipping: -10 points
- Cancellations: -30 points
- Failed authentication: -50 points
Each seller starts with 90 points, so it just takes 5 shoes sold and shipped on time to become a top-rated seller. So if you simply sell authentic shoes and ship on time, you can gain a seller rating of 100 fairly quickly.
Leverage GOAT’s unique features
GOAT offers several tools that top sellers will use to bolster their business:
GOAT Clean
This feature allows you to send lightly used sneakers to GOAT for them to clean and prepare to sell as like-new. This can be a goldmine for flipping worn kicks that you can sometimes touch up yourself to meet GOAT clean sneaker standards before shipping them in for top dollar.
GOAT Storage
If you have a large amount of inventory and don’t want to pay for or have to worry about handling and storing all of it, you can utilize GOAT storage. With this service, you can ship your shoes in for GOAT to list and ship your shoes once they’re approved, making for a much more streamlined operation. While there’s no fee to use GOAT Storage, you can’t control the pricing of the shoe and the platform will automatically price your shoes higher.
Instant Ship
However, when your shoes are in GOAT Storage, they’re available for Instant Ship, guaranteeing the buyer that they’ll have the shoes shipped the next business day at the latest. This guarantee incentivizes the sellers to pay a premium for their kicks, making it a win-win for both buyers and sellers who use GOAT Storage and Instant Ship.
GOAT Alternatives for Sneaker Resellers
While GOAT is a solid platform, it’s not the only player in the game. Here’s a quick rundown of the other options for sneaker resellers:
eBay
eBay is the OG of all online marketplaces and still holds its long-standing positive reputation amongst the sneakerhead community after effectively implementing practices to take care of the issue of fake sneakers on the platform with their authentication service. Additionally, the platform always offers incentives for sneaker sellers, meaning that you can often list and sell your shoes on eBay with no platform fees.
StockX
GOAT’s main competitor is StockX. Instead of fixed prices, it uses a bid/ask system, which has the potential to yield higher profits if prices move upwards in your favor. Additionally, the platform has rich data and analytics that all sellers can access once they create an account, including a historical chart and performance of shoe models and sizes so you can make more effective data-driven decisions.
Grailed
Grailed is a secondhand marketplace that is a go-to in the streetwear community, so there’s naturally a large overlap with sneakerheads. Although the audience isn’t quite as active for standard current releases, you’ll be able to expand your reach for more expensive and rare collaborations by listing on the platform. Grailed can also be a goldmine for sourcing used kicks at a good price to flip elsewhere.
Exploring the World of Reselling? Learn More With Whop
Sneaker reselling is just one small niche in a much larger pie. Reselling is one of the best types of online business that you can engage in regardless of your level–people from total beginners to those with previous entrepreneurial experience have gone on to make six or even seven-figure businesses.
Whop is home to several top expert-led reselling communities, including groups dedicated specifically to sneakers. Whether you want to start a reselling side hustle or gain a new and lucrative primary income source, Whop has you covered with private groups, courses, and tools that will help you cash in as a savvy entrepreneur capitalizing on all the opportunities available.
Head over here to check out everything Whop has to offer so you can start your profitable journey today.
GOAT FAQs
Which shoes should I sell on GOAT?
GOAT’s buyers are somewhat particular, so the platform doesn’t allow for open listing of just any shoe. So, as a seller on GOAT, you should focus on limited edition releases, hyped collaborations, and classic Retro Jordans. If you want to list a broader range and condition of shoes, use eBay or Facebook Marketplace.
How long is the approval process on GOAT?
When you sign up as a seller on GOAT, you’ll have to wait to be approved. This process can take anywhere from a few days to a week or more, but as long as you follow their rules and submit accurate information, you should get approved eventually even if it’s on the longer end. Once you’re approved, as long as you keep your seller rating high, you’ll have a seller account to use indefinitely to reach GOAT’s quality audience.
How do I get paid as a seller on GOAT?
GOAT offers several payout options for sellers. The most common are direct transfer to your bank and PayPal. You can also choose to get paid in credits that you can use to purchase shoes on GOAT. Payments will take about 2-3 days to hit your account after your item has been authenticated and delivered to the buyer.
Does GOAT take a long time to verify sneakers?
GOAT’s authentication process doesn’t take a long time – your shoes will typically be verified within 1-2 business days after being received. The entire process from sale to payout will take at least a week, factoring in the shipping times in between each location. The good thing about the seller’s reputation is that buyers don’t mind waiting a bit for the sake of knowing that they’re getting authentic shoes through a manual process.
Is GOAT more expensive than StockX?
As a seller, GOAT has lower fees than StockX, with a transaction fee priced at a flat 2.9% compared to StockX’s 9.5%. However, over time, sellers on StockX can greatly decrease their fees to eventually become the same as GOAT’s. For buyers, GOAT’s shoes generally end up on the higher end, making them more expensive than other platforms including StockX after paying additional buyer fees.
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