Sneaker Pawn in Harlem - Dallas News | myFOXdfw.com

Sneaker Pawn in Harlem

Posted: Updated:
NEW YORK (MYFOXNY) - A father and son team have opened a business in Harlem called Sneaker Pawn.

Troy Reed got the idea when he would take his son Chase's sneakers for collateral when he would borrow money.

Customers can pawn, sell, or buy from the store.

With seed money collected from selling tens of thousands of dollars in family owned shoes, they set up shop in May.

They are already welcoming a steady flow of customers, all with different needs. Some pawn to pay for funerals, for bail, or school books.

For those unfamiliar with the sneaker world, shoe companies release a new shoe in limited quantities for a somewhat reasonable price. The resale value of that sneaker then grows exponentially.

Here, "used" or "second-hand" often means they left a store and spent the next several years in a box in a closet.

"Hands down, this is a business model that's going to work because there's kids with millions and millions of sneakers," Troy Reed says.

So far, Sneaker Pawn's still waiting to turn a profit and looking for investors to help it grow but Reed says he knew he'd found a successful idea from the first customer he saw on the first day Sneaker Pawn opened.

"A guy brought us 60 pairs of sneakers. He actually just killed the bank that day," Reed says.

  • Local NewsLocal NewsMore>>

  • Schumer proposes ban on 10 flame retardants

    Schumer proposes ban on 10 flame retardants

    Sunday, September 14 2014 9:51 PM EDT2014-09-15 01:51:05 GMT
    Gov. Andrew CuomoGov. Andrew Cuomo
    Senator Charles Schumer says a Duke University study has found flame retardants in upholstered furniture and children's products like toys, pajamas and pillows to be highly toxic. The chemicals have also been linked to developmental delays and rare cancers in firefighters as well as cancers and hormone disruption in children.
    Senator Charles Schumer says a Duke University study has found flame retardants in upholstered furniture and children's products like toys, pajamas and pillows to be highly toxic. The chemicals have also been linked to developmental delays and rare cancers in firefighters as well as cancers and hormone disruption in children.
  • Electricity goes out at Six Flags, guests left stranded

    Electricity goes out at Six Flags, guests left stranded

    Sunday, September 14 2014 6:50 PM EDT2014-09-14 22:50:36 GMT
    Six Flags Great Adventure 45th anniversary logo. (AP photo)Six Flags Great Adventure 45th anniversary logo. (AP photo)
    It wasn't the amusement park thrill they were expecting. Some people at Great Adventure in New Jersey were left stranded on rides after a power outage.
    It wasn't the amusement park thrill they were expecting. Some people at Great Adventure in New Jersey were left stranded on rides after a power outage.
  • Stranded jet skiers rescued off Staten Island

    Stranded jet skiers rescued off Staten Island

    Sunday, September 14 2014 6:43 PM EDT2014-09-14 22:43:09 GMT
    Two jet skiers stranded since Saturday night were rescued from small islands off of Staten Island Sunday morning, police sources said. The FDNY Marine division discovered the first jet skier on the West Bank Lighthouse island while patrolling the area after 8 a.m. Sunday, and took him to Staten Island University Hospital North. His friend, a man in his 40s, was also saved.
    Two jet skiers stranded since Saturday night were rescued from small islands off of Staten Island Sunday morning, police sources said. The FDNY Marine division discovered the first jet skier on the West Bank Lighthouse island while patrolling the area after 8 a.m. Sunday, and took him to Staten Island University Hospital North. His friend, a man in his 40s, was also saved.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices