Junior entrepreneurship major Matthew Ayzenberg has become a serial entrepreneur by reselling popular shoe brands as a business.

Ayzenberg started his business “Redrop” about three months ago after being interested in high-end sneakers and clothing.

He buys higher priced retail clothing and shoes from private online websites and resells them for a profit. Ayzenberg sells a wide variety of brands, including Ultra Boosts, Yeezys, Reebok, Nike and Supreme.

“It all started when I purchased a pair of shoes from a boutique. I told my friend about them, and he offered to buy them off of me for $20 more,” Ayzenberg said. “This inspired me to continue to supply luxury clothing items to the people who want them.”

To determine what clothing items are trending in the market, Ayzenberg analyses marketplaces such as eBay and Goat. He establishes market value of sneakers from StockX, an online sneaker stock market.

Being a member of several private online markets, Ayzenberg snags popular shoes for a limited time price. Due to popular demand, in a matter of minutes, the resale value of these popular shoes increase, Ayzenberg said.

Ayzenberg’s business is social media based, realizing that his target audience buys online. Ayzenberg is working on a website, but he uses a variety of platforms, such as  Instagram to advertise his products.

This type of business is known as arbitrage: the purchase and sale of an asset to profit from a difference in the price. This trade results in profits by utilizing the price differences of identical or similar products on different markets.

“There’s insane money in this type of business,” Shawn Rohlin, director of Center for Entrepreneurship and Business Innovation, said. “Businesses all around the world use this mechanism of business to ensure profits.”

After starting this business for several months, Ayzenberg has faced several business hardships.

As his only source of income, Ayzenberg relates his business practices to investing in the stock market. Ayzenberg makes approximately $1,500 in a month’s worth of business.

“You’re taking a chance on your money in hopes it’ll work out for you in the end. It’s kinda nerve-racking, but, so far, it’s worked out very well,” Ayzenberg said.

Ayzenberg’s mother, Natalie Ayzenberg, believes her son’s drive to build a successful business comes from the multiple challenges her family has faced.

Ayzenberg’s family originated from Odessa, Ukraine. In 1989, Natalie Ayzenberg journeyed from Odessa to the United States in hopes of a better life. There were no opportunities for their family or most of the citizens of Odessa under the Soviet government.

“Since my family was Jewish, and all religions were prohibited and prosecuted, it was very difficult for my parents to go to America for an opportunity to have a better life,” Natalie Ayzenberg said.

It wasn’t until Mikhail Gorbachev became president of the Soviet Union in 1989 that citizens were granted permission to leave the country, Natalie Ayzenberg said. Natalie Ayzenberg and her family arrived to Cleveland in September 1989.

“I think that’s why Matt has such a strong entrepreneurial business attitude,” Natalie Ayzenberg said. “He knows the hardships I went through and is striving to make a better life for himself and his family.”

Ayzenberg hopes for success in the future and plans to continue his business.

“Matt is a great example of the ingenuity and entrepreneurship here at Kent state. He demonstrates that you don’t have to be creating a new product to be an entrepreneur, but can utilize their expertise and knowledge of a market to make money,” Rohlin said.

Students wishing to jump-start their businesses can look into the Center for Entrepreneurship and Business Innovation located in A123 of the business administration building. This resource helps guide and engage students in their prospective businesses, as well as make professional connections.

“Don’t settle. Don’t finish things you don’t want to do,” Ayzenberg said. “If you don’t like the Netflix show you’re watching, find a different one. If you’re not happy on the path you’re on, pave a new one.”

Mikala Lugen is the student finance reporter, contact her at [email protected].