Couple To Become Millionaires After Starting eBay Business While Unemployed
| Last updated
A couple who founded an eBay company in 2010 after losing their jobs in the financial crash of the noughties have now become millionaires - their firm rocketed to success during lockdown this year.
Adam Taylor and his wife, Alexandra Taylor, began Pet Shop Bowl a decade ago after both were made unemployed.
The pair have been gradually building the company since but it was only this year - and in lockdown - that it suddenly started a hefty profit.
"Our business has gone from strength to strength, particularly in lockdown," the couple from Stratford-upon-Avon told The Daily Mirror.
"Our pet products were flying off the shelves as more and more people were investing in their pets and spending more time at home with them. Pet treats and grooming products were particularly popular with our customers."
They added: "In a matter of months we went from a making £2,000 a week to over £21,000 a week - that's a 950% increase!
"Business is growing so quickly that we expect our sales to triple in the next twelve months, thanks to a boom in people shopping online."
The pair are among a record number of eBay sellers who have reached £1 million in takings this year, with the online market place claiming there's been a 35 percent rise in eBay millionaires this year.
London leads the way with 52 sellers breaching the £1 million mark, with Manchester not far behind with 36 and Birmingham on 35.
Another success story is Rodney Davies from Oakhampton in Devon. He sells home and garden accessories online and his business, Far East Direct, has a turnover of £4.5million and has risen by more than 50 percent since lockdown.
"I met my business partner, Kevin, when we were in university in the '80s" he explained.
"We now run our business, Far East Direct, from two continents - Kevin is based in Hong Kong, while I'm here in the UK."
"Since then the business has grown massively. Last year, our turnover was £4.5million, but with all our success over lockdown, we expect this to be £6.5million this year."
He added: "We were lucky in lockdown as our range of items, such as dog beds, yoga mats and composters, proved really popular as people spent more time at home.
"Our Easibee business, which sells beekeeping equipment, also grew a lot as people sought out new hobbies that meant they could spend time outside."
The success of Rodney's business bears out the report from eBay that home, furniture and DIY sellers have benefitted most from the lockdown.
Murray Lambell, UK general manager of eBay is understandably delighted with the success of those using the platform and gaining prosperity at a time when many are feeling the pinch.
In a statement to The Mirror he said: "The uplift in new self-made millionaires on eBay proves that Britain's entrepreneurial spirit is alive and kicking, despite the challenging economic times we are facing.
"The pandemic has certainly hit business hard, but it has also shown that entrepreneurs are cut from a different cloth and can turn a crisis into an opportunity, making millions in the process.
"It is these forward-thinking small businesses who will help power the UK's economic recovery and thrive in the long term."