Business

10th Grader Opens World’s First Sneaker Pawn

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Sixteen-year-old Chase Reed transformed his 200 pair shoe collection into a $30,000 profit. He then turned his 30 band revenue into a profitable business venture.

This underage entrepreneur opened the world’s first pawn shop strictly designed for the storage and sale of exclusive kicks. Stationed in Harlem, New York, Sneaker Pawn is a US based company, but has garnered hundreds of inquiries from global customers. In just two months, this innovative business has received unprecedented media coverage, expanding the store’s exposure, and painting a positive image for black male entrepreneurship.

Moments after purchasing a $400 sneaker with his father’s cash, Chase then asked his pops for spending money. The generous yet morally competent parent would loan Chase the money if he would in turn cough up the expensive pair of kicks. Chase would then be expected to pay his father back in two weeks, or kiss the sneakers goodbye. In this moment, it clicked: Chase was not the only teenager with hundreds of shoes in his closet, and no money to his name.

Customers have utilized Sneaker Pawn in moments of desperation and dire need. Girls have pawned their kicks to pay for prom dresses, and guys have used the money to meet the rent requirements of over-bearing landlords. Funerals have been paid for, even bail bonds during the times of unfortunate arrests. Customers are also able to trade, sale, buy, and refurbish sneakers.

Is Sneaker Pawn an overall positive investment? Or does the store’s growth and popularity simply shine a light onto the disproportioned priorities of the Black community? Contact us, and let us know!

This story is also featured at ChampionDreams.com.

 

Annsleigh Denise is a graduate of Spelman College, earning a Bachelor's Degree in English and a Minor in Multi-Media and Professional Writing. She is a multifaceted creative, focused on the inner-workings of print, publication, and Broadcast Journalism. Possessing notable editorial skills, Annsleigh aspires to utilize her professional experience to impact the world of media.

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