The Sole Entrepreneur: Unveiling the Sneaker Reselling Journey of Will Johansen

Written by Sofiia Mikadze, '24

Johansen’s journey wasn't a typical path for a business student. It began in March 2020 when the COVID-19 pandemic forced the world to adapt to a new reality. For him, the pandemic ushered in an unexpected opportunity. Inspired by his cousin's success in the streetwear market, the ambitious student took his first step into the world of sneaker reselling by snagging a pair of Jordan 1s on the Nike website. That modest investment quickly turned into a $40 profit, sparking his interest in the potential of this niche market.

But Johansen's journey didn't stop there. He delved deeper into the sneaker reselling world, investing in bot software and joining "Cook" groups on Discord. These groups provided valuable insights and strategies for reselling sneakers, leading to impressive results in a short period. In his first month, with a $25 subscription, the young entrepreneur managed to flip ten pairs of sneakers, demonstrating a remarkable knack for the business.

Sneaker reselling is not just about buying and selling. Johansen explains, "There's a market for everything. On these marketplaces, you match what other buyers want or are asking. It's a complex game of supply and demand." This keen understanding of market dynamics has been key to his success. He diligently monitors online marketplaces like StockX, eBay, and GOAT, where he typically operates.

While the average retail price for sneakers is around $150, Johansen often manages sales of higher-priced kicks, with some reaching up to $300. Setting the right prices requires a deep understanding of market trends and historical sales data. "People look at historical sales. I don't undercut too often because it lessens the market value of a shoe. It's just supply and demand," he said. 

Johansen's success in sneaker reselling lies not only in his ability to buy and sell sneakers but also in his disciplined approach. He emphasizes the importance of self-control when making purchases. "It's almost like gambling, a dopamine-inducing activity. I've minimized losses by being cautious and rational with what I want to buy," he said.

Another crucial lesson he has learned is the art of selling himself rather than just the product. In a market saturated with resellers, building strong relationships with clients and presenting oneself effectively can make all the difference. "Presenting myself to potential business partners is what gets the deal done," he said.

A lot of his understanding of communication, sales, and bookkeeping came from the classes he took at the Robins School of Business. Having started his business in high school, he initially lacked crucial accounting, finance, and marketing skills, but as he took relevant courses at Robins, Johansen made a substantial difference in his shoe reselling game.

His advice to newcomers in the field is simple but valuable: "Begin at a scale that's manageable to you. Don't wager more than you can afford to lose on any business endeavor. And, most importantly, find something you're passionate about."