This is nothing short of awesome. Sixteen-year-old Chase Reed is a sneakerhead who decided to turn his collection into a profit. He took his 45 basketball sneakers and opened the world’s very first pawn shop just for sneakers. Reed, who is in the tenth grade, opened the Harlem store with his father and uncle who run the store while he’s in school, according to the New York Post.
“Young kids don’t have jewelry. They don’t have cars,” said Troy Reed, dad of young entrepreneur Chase “Sneakers” Reed. “But what they do have is the thousands of dollars worth of sneakers in their house.”
They’re not just taking any old sneakers either. They mainly want high-end kicks or sneakers that aren’t available anymore, as long as the shoes are in good condition. “After we evaluate it, we’ll give the kid, say, $100 for the sneakers,” said Troy. “If he wants them back, he’ll pay the $100, plus $20 for storing the sneakers,” Troy said.
Chase first came up with the idea when he asked his father, Troy Reed, for $50 to get a pair of new releases. His father wasn’t giving up the cash to fund the business, so Chase sold custom-painted sneakers to make money, charging $150-250 per pair. We wish him much success in his new found entrepreneurship!