High schooler, father start successful shoe pawn business - WFXG FOX54 Augusta - Your News One Hour Earlier

High schooler, father start successful shoe pawn business

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Troy Reed and his son, Chase, started a sneaker pawn business they hope to take national. (Source: FOX) Troy Reed and his son, Chase, started a sneaker pawn business they hope to take national. (Source: FOX)

NEW YORK (FOX) - The sneaker craze in this country is as hot as ever, and one high school student is turning his love for shoes into a big money maker.

Sneaker Pawn USA is billed as the only pawn shop dedicated solely to high end kicks.

"This is actually the first sneaker pawn shop in the world. There's nothing like it," co-owner Troy Reed said. "This is the only place a kid can pawn his sneakers, get cash, come back in 30 days and just pay a storage fee and get his sneakers back."

Reed and his 16-year-old son, Chase, opened the store inside their old apartment in Harlem using only internet buzz to grow their clientele.

They offer cash for gently used, new or mint collectible shoes. They started the business with Chase's own $30,000 stash of shoes.

"It took my whole sneaker collection just to go out and chase my dream and start my own sneaker store," Chase Reed said. "It's definitely paying off now."

The Reeds hope to franchise Sneaker Pawn USA coast to coast.

Sales of athletic footwear hit $22 billion in the U.S. last year, and people line up for the premiere of new releases.

The hottest high tops can double or triple in value when they leave the shelves.

That's how the father and son got started years ago. They'd buy two pairs and sell one for a profit on the streets of New York.

When the high schooler wanted more spending money, his pop hatched a plan.

"He would make me pawn my sneakers to him, basically, just so I can get money to go out with my friends or go design clothes or go re-sell sneakers," Chase said. "And I would just have to pay him back after the two weeks."

The first customer walked in with 60 rare pairs and sold or pawned half of them.

Other sneaker-heads as young as 13 come in for Chase's custom paint jobs.

"It's a brilliant idea," customer Jerome Smith said. "Just because it's different doesn't mean it can't rock!"

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