Brandon Chance is a self-made man on a mission to unlock a huge asset class for a growing community - sneakerheads.
What's a sneakerhead? Someone who collects wears, and lives for sneaker culture.
In 2016, the sneakers market was pegged at $55 billion (Business Insider). Since then it's grown into a multi-hundred billion market with the sneaker resale market expected to hit $30 billion. One of the most notable startups in the space is StockX which is a unicorn valued at $3.8 billion. (Reuters)
Those high ticket collectibles are nice, but the other 99% of consumers are interested in actually wearing the freshest kicks without having to deal with the high costs, inaccessible releases, and actually making money off their assets.
Brandon was born and raised in what he calls "the REAL Miami” far from the glitz and glam of South Beach or $23 cocktails in Brickell. After a series of moves due to his father’s career, he returned home to Miami and began an eclectic career path that equipped him to his current venture, Loan My Sole.
Brandon started as a local sports radio host for 790 The Ticket - a household name in South Florida sports. After a communications & finance degree from FIU, he began working in communications for the Miami Marlins where he learned the ins and outs of the business side of sports.
He then jumped into the banking industry with Wells Fargo, eventually becoming a private wealth manager for Merrill Lynch.
As a natural hustler - in the best sense of the word - he launched his own wealth management firm which is still thriving today.
Why is all of this background important?
Because this unique combination of experiences perfectly positions Brandon to create Loan My Sole - a startup bringing experience and culture back to sneakers while accepting their status as an alternative asset.
About Loan My Sole
Loan My Sole is a rental marketplace for sneakers that focuses on actually wearing sneakers, instead of just letting them collect dust like StockX. They connect sneaker owners with interested renters that want to borrow fresh sneakers for specific events, outfits, or limited time.
It's like Airbnb or Turo for your sneakers. If you have an asset, you should be able to rent it and unlock the value in the present while also building equity over time.
The Crease: Loan My Sole is taking a community-driven approach to growth. They have a vibrant community called "The Crease", a play on the cardinal sin of sneakerheads which is creasing up your sneakers since it affects the resale value. They also have a vibrant forum ("The Plug") discussing all things sneaker culture.
Brandon & Loan My Sole recently placed in the Endeavor Pitch Competition for Black Founders last week, too. They're picking up steam as they head into a pre-seed fundraise.
A crazy side-note: Brandon actually registered the domain loanmysole.com 10 YEARS AGO. He's had this idea for 10 years but stated that the sharing economy was not ready then. Uber wasn't a thing. Airbnb wasn't a thing. And the concept of borrowing someone else's clothes was just too foreign for consumers around 2010.
He officially launched Loan My Sole in 2020 at the perfect intersection of time with the sharing economy & sneaker culture.
The answer is simple: this is home for Brandon.
He wants real Miami people to have access to the opportunities & salaries of the tech community. We discussed how the vast majority of Miami has no idea what is going on in the tech community, how to get involved, or what opportunities are available.
Brandon wants to change that and bring all of Miami into the growing tech movement. He hopes that Loan My Sole can bring more people into tech as it grows.
How can we help?
Raising pre-seed round - email Brandon at firstname.lastname@example.org for more info 💰
Sign up - if you're a sneakerhead too, sign up at LoanMySole.com
Intros to athletes & influencers - if you know any athletes or influencers in the sneaker game, reach out to Brandon to collaborate.