Sneaker Pawn USA was founded by father and son team Chase & Troy Reed. Chase once wanted a cash advance from his father, who told him he should wait. Chase offered his favorite pair of sneakers for his dad to hold until he repaid the loan. Dad agreed and this transaction got father and son thinking.
After selling all of his shoes, 16-year-old Chase had the money they needed to rent a space and get started. Gently used shoes and what is known as Dead Stock Shoes (shoes that are new, in the box, but never worn and are no longer sold) are purchased on site, cleaned up if need be, then resold. The markup on shoes can be as much as 800%.
Sneaker Pawn USA started selling out of a friends apartment or the back of Troy’s car, but today has a brick and mortar store, as well as an active eCommerce site.