Sunday, June 15, 2014

Sneaker Pawn

16 year old Chase Reed just opened up Sneaker Pawn (yes, a pawn shop for Sneakers) right in the heart of Harlem - home of the hustlers. I love to see young entrepreneur's find their lane.

"The shop operates by first assessing a prospective pair of kicks and offering a certain amount for them. When it comes time to repay the loan, the pawner returns the original amount plus some extra for storing the sneakers at shop. If someone else makes another offer on the sneakers and they end up selling for more, the pawner is entitled to 80 percent of the profit while the rest goes back to Sneaker Pawn"

Read more about the shop here and  here .