NYC Teen Opens World’s First Sneaker Pawn Shop

Chase-Reed-sneaker-pawn-shop

Chase-Reed-sneaker-pawn-shopHigh-end kicks are the new currency!

Talk about taking full advantage of the world wide growing culture of sneakers. With the sneakers future looking bright, 16-year old Chase from Harlem sells his own mint condition 200 pairs to raise the $30,000 start-up cash to open world’s first pawn shop with his dad at Lenox Avenue and West 120th Street. He and his dad came up with the idea when Chase asked to borrow $50 spending money after waiting all night to dole out his ­father’s hard-earned cash on a new release.

Chase, student at Frederick Douglass Academy in Harlem, still checks out photos of the freshest sneaker designs online and waits in line for hours to add to his collection. Only now he is able to get them from “investors” who want quick cash for many reasons. This is by far the coolest business idea a 10th-grader could come up with.

“Young kids don’t have jewelry. They don’t have cars,” said Chase’s dad, Troy Reed. “But what they do have is the thousands of dollars worth of sneakers in their house.”

[via New York Post]

haleemakhan

Haleema Khan is a writer from Toronto, ON, who also contributes to RESPECT and Boi-1da.net – A dedicated tastemaker, she also performed a rare DJ set at NXNE 2014 in Toronto at Weldon Park.

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