Teen Who Set Up Business Aged 12 Set To Turn Over £50K By Next March
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A teen who started his own business when he was just 12-years-old reckons he's on track to turn over £50,000 by March next year.
Nineteen-year-old Joe came upon the idea of flogging collectibles and toys after struggling to complete his own collections of football cards when he was a kid.
Joe took to eBay where he would sell off cards he didn't want and buy the ones he needed but he soon spotted a gap in the market and began to buy in bulk so he could resell and set up JoeJoeJms Collectibles and Toys.
He told LADbible: "I liked to think I undertook a somewhat business approach in the playground, but back then I never could have foreseen where I am now and what is occurring in the market.
"I have always wanted to pursue something I love and am passionate about, and so as my business grew the opportunity sort of fell into my lap.
"At my young age with little expenses, I had created a small income stream for myself, and so I became increasingly confident in making my hobby a full-time business, especially given how low risk it was. That is why starting young was such an advantage, and still is!"
His eBay shop has gone from strength to strength, with Joe saying he knew he was on to a good idea while working a 9-5 summer job in retail and realising that some days he was earning more though his selling page than through his steady job.
And, while many businesses have struggled during the coronavirus outbreak, Joe says his has flourished.
"I am lucky, because the lockdown was amazing for me," he said. "I trade mainly in Pokémon and Football cards nowadays (with some other toy lines on the side), and both these markets experienced significant growth during the first lockdown.
"Given that so many people had time on their hands, people of my generation had the opportunity to relive our younger years. This meant uncovering old card collections, and as a result, lots of people came back into the hobby. This resulted in huge growth for the more established sellers like me.
"This boom was also accompanied by a wave of investors, who saw the growth as an opportunity to make money. These factors combined, meant prices appreciated dramatically.
"On top of this, we saw popular names like Logan Paul and Logic get back into Pokémon, which has led to a second boom for sellers like me."
In fact, he's done so well that Joe has been shortlisted by eBay (where his business operates from) for this year's eBay for Business Awards - an annual celebration to recognise the best of small and medium sized British businesses.
Once he's graduated Joe hopes to make his business his full-time job and plans on setting himself with ample stock.
Offering advice to anyone who's thinking of setting up their own business, Joe added: "I think the one piece of advice that I can offer through my experience is to back yourself. eBay is an accessible and non-judgmental platform.
"If you have an idea, you're passionate about or an innovative solution to a problem, don't wait until tomorrow. Use your age to your advantage, take it as a 'get out of jail free pass' and pursue what you love."
Right, I'm off to dig out my old Pokémon collection.
Featured Image Credit: Supplied