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>>

  • NYSE rings bell for pediatric cancer awareness

    NYSE rings bell for pediatric cancer awareness

    Wednesday, August 27 2014 7:00 PM EDT2014-08-27 23:00:54 GMT
    On Wednesday, the world famous New York Stock Exchange closing bell rang in honor of pediatric cancer awareness. The Loccisano family says their beloved Frankie heard the bell all the way up in heaven. Frankie's grandmother says she is convinced of it. Camille Loccisano, Frankie's mother, is the executive director of Frankie's Mission, a nonprofit pediatric cancer foundation named in her son's honor.
    On Wednesday, the world famous New York Stock Exchange closing bell rang in honor of pediatric cancer awareness. The Loccisano family says their beloved Frankie heard the bell all the way up in heaven. Frankie's grandmother says she is convinced of it. Camille Loccisano, Frankie's mother, is the executive director of Frankie's Mission, a nonprofit pediatric cancer foundation named in her son's honor.
  • Metro-North safety practices faulted

    Metro-North safety practices faulted

    Wednesday, August 27 2014 6:07 PM EDT2014-08-27 22:07:45 GMT
    The Metro-North Railroad has sacrificed safety for on-time performance, according to a report released Wednesday by a Metropolitan Transportation Authority panel. The report echoes an assessment conducted this year by the Federal Railroad Administration, which investigated after a string of Metro-North accidents including a December 2013 derailment that killed four riders in the Bronx.
    The Metro-North Railroad has sacrificed safety for on-time performance, according to a report released Wednesday by a Metropolitan Transportation Authority panel. The report echoes an assessment conducted this year by the Federal Railroad Administration, which investigated after a string of Metro-North accidents including a December 2013 derailment that killed four riders in the Bronx.
  • Dangerous rip currents at NJ, NY beaches

    Dangerous rip currents at NJ, NY beaches

    Wednesday, August 27 2014 4:54 PM EDT2014-08-27 20:54:07 GMT
    Several beaches on the New Jersey and New York coastlines are open to visitors but closed to swimming because of high surf and dangerous rip currents. The National Weather Service has issued a High Surf Advisory and Rip Current Statement for the area beaches because of the effects of Hurricane Cristobal, which is expected to track south and east of the Jersey shore through Thursday.
    Several beaches on the New Jersey and New York coastlines are open to visitors but closed to swimming because of high surf and dangerous rip currents. The National Weather Service has issued a High Surf Advisory and Rip Current Statement for the area beaches because of the effects of Hurricane Cristobal, which is expected to track south and east of the Jersey shore through Thursday.
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