Monday, March 16, 2015

Meet 16 yr. Old Chase Reed -Black Teen Whose Sneaker Shop Is Breaking the Mold

There is so much a black teen can get into these days. The idea of immediate gratification and an imbalanced scale of opportunity often leads them to paths of destruction. Even those on the right path find themselves having better things to do than opening their own business. This is why the story of Chase Reed and Sneaker Pawn USA inspired me so much.

One day Chase asked his dad for $50. His dad said no, but said he would give him the $50 only if he let him hold his shoes until he paid it back. In the moment it probably seemed like a bit of a jab, but this one moment inspired an incredible idea in Chase' head. The idea was to use the traditional pawn shop business, but blend it with sneakers. The sneaker culture is so huge, Chase himself had about $30,000 worth of kicks in his own home (which he sold to start his business).

A sneaker lover who needs a bit of cash can bring in his or her kicks for evaluation. Once they agree upon an amount, the kicks are exchanged for that amount. The pawner can reclaim their shoes just by giving back the money that was given to them plus a $20 storage fee. If another person is interested in buying the kicks in the meantime the pawner is notified and given the opportunity to buy them back first. If the kicks sell for more than the original value the pawner gets 80% of the profit and the store keeps the rest!

Now Chase, with a business he didn't go into debt to get is gearing to make headlines more than he already has. He's already been featured in Bloomberg among other publications. All of this from a simple lesson his Dad was trying to teach him. This is awesome. Sneaker lovers worldwide can visit them online if you can't make it to the store. Salute to this young black man for his creativity and desire to move on it. I can dig it brother!

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