Harlem Teenager Launches World’s First Pawn Shop for High End Sneakers –
At age 14 Chase Reed realized he owned over $30,000 worth of sneakers. By age 16, he stood 6 foot 4 inches and wore a size 15 shoe. His father dreamed of his son one day playing in the NBA, but Chase had different dreams.
Last year, Chase sold his entire collection to open up the World’s first ever Sneaker Pawn Shop.
CBNC reports, the father and son have opened a pawnshop exclusively devoted to sneakers. Sneaker Pawn USA is based in an apartment in New York’s Harlem where the two used to live and have converted into sneaker start-up central. The duo advertise on social media platforms and share their inventory. Sneakers fans from around the world visit their Harlem shop, and shoes can be purchased online.
The pair got the idea for the business when Chase was 14. Troy, who is divorced, admits he indulged his son and allowed him to amass a basketball sneaker collection worth about $30,000. Troy then persuaded his son to sell the shoes to generate the cash for a physical store.
“It was hard to let go of the collection because I was 14 years old with 200 pairs of sneakers, and all of the sudden you have to go back to zero,” Chase said. “But it was just part of becoming a young man and an entrepreneur.”
Chase works along side his father to buy, trade and sell Air Jordans and other brands in the store, which opened in June. How does it work? Well, according to EllenTV, if you need some extra cash and have a pair of shoes to barter, Troy and Chase will loan you the retail price of your shoes and store them for a $20 monthly fee. You have 90 days to pay them back, plus the fee. Alternately, if you have shoes you want to trade, new or used ones to sell, or if you want your favorite pair cleaned up and customized, they’ll take care of it.
Copy/Paste link: chocolateinformed.com/archives/12433