This 16-Year-Old's Company Brings In Millions Buying From Walmart And Selling On Amazon
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- Опубліковано 13 тра 2024
- Max Hayden started selling candy and fidget spinners to his friends during middle school. He has always been passionate about business and started seeing some success selling high-end sneakers. During the pandemic, he focused on his e-commerce business by becoming an Amazon reseller and made $110,000 by reselling items like gaming consoles and above-ground swimming pools. Now, he is looking for a new warehouse to expand the business.
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This 16-Year-Old's Company Brings In Millions Buying From Walmart And Selling On Amazon
So the lesson here is always buy from Walmart instead of Amazon?
The thing is these sellers are really quick to buy stuff at WalMart. As a mom and a full-time worker, I don't have time to spot good deals and shop at Walmart during weekdays.
Hahahahahahaha lesson learned... Amazon is just for the service... it's like whole foods there's people who just like paying 10 dollars for a small 1 oz bottle of pink salt when they could get 1 pound for 8 bucks at an Asian store
KMART Too
@@anoukc6928 So what you're saying is don't have kids so you won't have to work a job you don't want to support them?
@@markoreaper5388 What? The question itself doesn't make sense. This your interpretation I didn't say anything like that
his business does not contribute to the value chain of the product, its just another layer where you can make/earn a margin off of, thus further increasing the price for the real buyers.
Ok. Your point?
@@Juan-rk8wk that he is probably closer to being a 'scalper' than anything else
@@DaniMrtini Rhetorical question, bro.
@@DaniMrtini and?? He is making money from it so?
Yeah. Which means his buyers on Amazon are not too price sensitive. Willing to pay that slightly more for the convenience of Amazon. So now, begs the question, how is online Walmart doing so far?
I thought this was going to be an interesting video but he’s just a scalper LMAOOO
If you think about it that's what all businesses try to do. Offer the service/product to the highest bidder. If you don't like that learn to do sales so price never affects you again and you can buy whatever you want. 👍
Ikr it's so scummy but tbh he's doing good for his age. Even if he's being a scalper. I sold a few items and you gonna sell it for profit or else you lose cash
No, he's not. You don't understand basic business
@@tkp97 Tiny Tina Panda 🐼♥ bear
@@lighttheoryllc4337 youre weird bro
This is why we ended up buying a swimming pool from the product's brand website directly during the beginning of COVID time even we had to pay $400 for shipping. There was no way to buy from big stores since everyone is buying bulk of them ASAP and sell for twice - three times higher price range online. It was still slightly cheaper than buying from them. Plus, we really didn't want to support these type of people! :/
These type of people are what give you a job bud. Or go do it yourself. That’s your two options
Let’s be real…that profit margin for selling $1.7mil is terrible. But the fact that he’s 16 is what’s amazing.
Even making 30k at 16 is amazing let alone 110k
Profit margin is amazing dude. 1.7m in oil and gas will barely give you 30k
I bet it has a lot to do with taxes and money management
Any profit is amazing especially in that short amount of time most business don’t even turn a profit in year 1 this kid is killing it!
I thought I heard wrong at first. Shoulda done the usual dropshipping. Good for him for seeing an opportunity tho. Can't wait on your parents.
What's the difference between Max and the folks who bought all the masks and toilet paper in March 2020 and sold it for 5 times the price?
Didn’t realize Jordan’s were a necessity.
difference is that mask toilet paper shortage was temporary and far cheaper than a $400 to $500 console in limited supply that is at the mercy of this chip shortage issue
I also remember when the supply did catch up, there were people returning to the stores, with full carriages of tp (more than they could probably use in a lifetime) trying to return them 😅
Although they are not essentials, it is still a form of profiteering. He is acting as an opportunist and taking advantage of adverse circumstances. Sure the items may not be essentials, but gatekeeping prices and artificially inflating markets is not healthy for an economy, nor do I think it is very ethical in such extremes like this. It is one thing to buy a collectable when it is first released then sell it later for a profit. It is another to buy out the entirety of the stock and resell it for profit due to scarcity (which is a form of scalping). Sometimes ethical lines aren't clear and take discernment, but I think in the case of profiteering for no good reason because of a disaster or something like that, it is obviously wrong.
There's not much difference, they're all bags of steaming dung
The thing is, he’s not just “meeting market demands”, he’s actively preventing people from purchasing at regular market pricing and then driving up the prices. Just look at the GPU market as an example. I don’t think he has bad intent by this but it’s very hard to argue that this is anything but a net negative to society
Doesn’t matter. It still is profitable. That’s all that matters
It's negative that both people engaging in the transaction profit? Care to explain?
@@edgarfriendly666 there is no added societal benefit. He’s just adding an extra layer to the transaction for the sole purpose of profit and price gauging. He’s the only one profiting
@@Shafster That's axiomatically false. Every voluntary transaction must necessarily be mutually beneficial, otherwise it wouldn't have taken place. It's taxes you're thinking of.
@@edgarfriendly666 based on that logic, then Marvin Shkreli buying a critical drug and jacking up the price by 5,500% is a net positive because there was a buyer and a seller. This guy is just adding an additional layer to the transaction process by unnecessary means to harm the end consumer and make them pay more. Do you think GPU scalpers are a net positive to society?? Yes, people buy them but that’s because these scalpers artificially inflate prices and make the GPUs inaccessible to standard consumers.
When you wonder why your graphics cards are costing hundreds above MSRP, look no further than this.
not anymore after china raids.
not a word
There's a chip shortage
Lockdowns caused a chip shortage. Lockdowns broke all supply chains. Cards were particularly in demand too due to cryptocurrency mining
There's a global chip shortage bro 😂
He’s not providing any value, he’s just a middle man
That's the whole point; as long as people buy, he is making money.
Look into the original meaning of entrepreneur, and you'll see that that's exactly what entrepreneur used to mean. Plus, that's not far off from what Marketing agency experts teach other marketers to do (to resell white-labelled versions of other agencies), though I don't like that myself.
@@jeremygwoods Entrepneuer is what used to mean that now the pandemic is changing that notion; unfortunately, what is not shown in the video is buying wholesale masks in demand. Learning curves in life are sometimes right in front of us.
@@oliviao2238 But he did buy webcams (as people needed that for work and school) and home exercise equipment (as gyms were shut down), so he did think through what people would buy more in the pandemic and succeeded from it.
Steve, plus, a middle man is exactly what there is anywhere you go. Even big distributors are middlemen, yet that’s who you probably buy from. It’s not an attractive job, necessarily, but it can bring profits, if you do it well.
How is this any different from Matt Colvin? That guy bought 17,000 bottles of hand sanitizer and was threatened with price gouging charges.
Hand sanitizer is an essential item. Reselling non-essential items such as video game consoles or inflatable swimming pools is completely legal.
Because Matt mark up price was like through the heavens, not just through the roof.
Also the guy who brought all the bathroom plungers because everyone else was buying toilet paper
It is exactly the same and people that are justifying it are A-holes
Hand sanitizer is an essential item. Pools are not.
This is just scalping...
If you buy cheap weed, then sell it for more it’s what all 16 year olds do
@@Alduinsshadow148 When I was 16 I realized I could buy a half oz for roughly 3/4 the price of an 8th. meaning i got to keep an 8th for myself or sell a couple grams and make money. Never really understood why people would buy a gram or an 8th. I get it now that I'm an adult but as a kid it was just free weed to me and some money to go to the movies or whatever
its called dont be salty.
@@jonm1066you mean calling someone out is being salty? Your parents never taught you morals it seems.
I hate when people provide no value whatsoever to the market and take advantage of limited supply
Exactly. He should learn a valuable skill and actually HELP not HURT.
When you go to Walmart,you're paying a higher price than what Walmart bought the item for, you don't need to buy products that are being sold for a higher price,it's annoying that some people have to pay more because of Scalpers but it is what it is
Shut up.
What value do you bring to the world
Everything you buy has to do with limited supply. Limited supply is literally the reason why things are not free. Why do you think houses in NYC cost a fortune while houses in the middle of nowhere costs 1/10th of the price? Because there is a limited supply of houses in NYC and a HUGE demand! Limited edition of a product usually commands a higher price tag as well. Everyone who participates in the market (except the final buyer) is technically taking advantage of limited supply.
As for what value is provided, that depends on what YOU value. Instead of driving to Walmart to shop for these items, the value you are getting from this guy is they are delivered to your door, which saves you gas and time. Perhaps certain items are only in stock in certain Walmart hundreds of miles from your home. The value you are getting from this guy is you are able to get stuff you wouldn't have been able to get without him. Or, maybe you are immunocompromised and don't want to be exposed to COVID at Walmart, the value this guy is providing is doing the physical shopping on your behalf.
This is like ordering groceries through Instacart, which I do every week. Instacart shoppers earn money through fees, tips, and more importantly the price difference between the actual retail price and the Instacart price. For example, a gallon of milk from a brand I like may cost $4 at the store and $5 on Instacart. I know very well that I am "overpaying" by ordering them through Instacart, but the value I am getting is not having to shop myself and having everything delivered to my doorstep. That may or may not be worth it depending on what YOU value.
Another example is Uber. When there is a limited number of cars available and a lot of people trying to order an Uber, surge pricing takes effect and a trip that might have costed you $20 is now $40. If you are in a hurry, paying $40 for a ride is better than not getting a ride. If you aren't in a hurry, perhaps waiting 15 minutes or taking an alternative form of transportation may be better for your wallet.
I think there is an argument to be made against this practice when the markup is outrageously high, but I don't think that's an issue here judging by his rather low profit margin. Most companies where you buy products from have much higher margins. Besides, the market tends to correct itself. He could try to sell a $50 webcam for $5,000 on amazon, but I bet nobody would pay such a ridiculous price for a webcam. However, many may be okay with paying, for example, $70 for it if they are desperate and find it convenient.
What this guy is doing is smart and no different than what every other company is doing. If you hate this practice, you might need to move to the woods, grow your own food, and never participate in the market again because literally everyone along the supply chain is taking advantage of limited supply.
Price gouging is now glorified as entrepreneurial!!?? This why the average mother or father goes to buy their kids a decent priced swimming pool and finds them all sold out!
Price gouging is a good thing. If you don’t like it then you can move to Cuba or Venezuela where the government sets the prices. It will be perfect for you and you will love it there.
so if walmart and amazon were doing it how would you feel?
@@sugarskulllyfe5890 The term “price gouging” suggests a misunderstanding of economics. Markets set prices correctly. Governments do not.
@@culpd "markets set prices correctly." Lol
@@culpd lol that's BS trying to justify greed ...the companies that actually produce the product aren't price gouging ..its these greedy scalpers that pay the retail price and charge others 2-3 times actual retail value
So basically he is a scalper.. LOL
He’s making more money than you right now
@@JuanDavid-ke2xq he’s not tho
@@JuanDavid-ke2xq I wouldn’t make that assumption his profit isn’t that high and some of us do clear more than that without the leg work.
@@samueldominguez9859 yes he is. Look up the stats. Only a few percent of Americans are making six figures
salty
To me, reselling and price gauging is not something to be proud of.
Your opinion doesn't matter.
There is no moral under capitalism. You do what the market determines.
@@mauriciopena9990 ik, at the same time I can’t believe people are impatient enough to pay a premium for a nonessential item. So I guess might as well capitalize on something people are dumb enough to pay for
@@Ali-ft1xw do it, people are pretty stupid when it comes to buying things that they don't need. That's what moves our economy, if everyone was intelligent enough, people would not spend that much and our system would be collapsed.
But Walmart can sell you something and make 50% profit margins and be a billion dollar company and u have no problem with them😂
This guy is the reason I can’t get my hands on a PS5 until PS6 comes out lol
looking for this one LMFAO in the same bout on team green
Alternative title: How a scalper manage to fool his customers
I love to see white independent men😍🥰, strong white men and diversity in our society
whatt people are buying stuff from him. You should tell people to stop buying from Amazon. Not tell him to stop selling.
@@JamarMatthewGrant stfu about skin color... Idek why people complain about skin colors nowadays. "Oh he's white", "oh he's black", "oh why aren't there browns here?".... And yet y'all complain about "racism". Maybe it's time to take a look at yourself. Just sayin'
@@AG-sk5pv huh I was literally complementing him atleast learn some comprehending skills
Yeah cause people were forced to buy his products.
Make money by taking advantage of a global supply chain shortage and driving up prices for consumers struggling financially. LIVING IN AMERICA 🇺🇸
Business 101
Non wrong with this
He's selling non essential stuff so if your struggling I doubt your looking for a pool
Customers got a pool they demanded though instead of it sitting on the Walmart shelf in NJ. Everybody wins in my opinion.
thats basic business
Are they actually validating price gouging?
No, he has a business model that has been around a while. Price gouging is a pretty strong word. Max in the video in no way endorsed price gouging or tactics involving paid-for-hire transport vehicles to the polls.
@@oliviao2238 explain how its its not price gouging for me? Maybe i'm seeing this wrong...
"Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock"
@@BejonTravs It's price gouging
@@BejonTravs what’s considered reasonable or fair is up to the person seeking to purchase the items. Simone may deem it valuable and reasonable to pay more to have the middle man do the work of locating the items and sending it out vs the customer having to put in some extra effort as opposed to extra money.
@@kayw1771 Spot on man, just cause something is expensive for 1 person doesnt mean its for the other one. BUT that does not ignore the fact its shady stuff.
Why are they glorifying this SCALPER?? Him and others are the reason why is next to impossible to get next-gen consoles and graphic cards.
I can see your argument for graphic cards but next gen consoles are not hard to get
@@Baozahh such cap
@@joyful768 not at all. All you have to do is follow people on Twitter and have notifications on.
And this is why PS5's are still reselling for $750 after 8 months of being on the market..
Nah it’s Sony’s fault
Blame stockx for this crap 💩
They make every shoe cost 1million over retail.. and they only put the hotest stuff on there site.. the ps5 is way over priced.. which is nonsense because gaming consoles lose value faster then cars leaving a dealership lol .. the ps5 price won’t last long 7 months in or not.. Sony probably has way more in a wear house they just probably trying to make A scarcity demand for it that’s all
All he's doing is hoarding needed items and raising the prices
It’s legal, what are you going to do about it, start your own company and hoard even more?
@@Alduinsshadow148 just let people buy directly from Walmart, they have everything online anyway
@@harunhernandez People have the option to buy from Wal-Mart if they want.
@@searphhoney it looks like he tracks low stock items and then buys them out
@@harunhernandez That is what he does. He pays to be in a discord where they all work to buy out items. Doesn't take any talent or brain. Just follow the orders of the main guy who btw is the real winner. All these fools paying 60 bucks a month to be part of these discords. That's the guy that's making the real money.
Isn’t this called scalping? Let’s just call it what is and stop trying to make it look so…”innovative”!
So what. He making more money than you right now.
The future belongs to those who believe in the beauty of their dreams.
-Success is a state of mind. If you want success, start investing your cash in yourself today...
Success seems to be connected with action. Successful people keep moving. They made mistakes but they don't quite.
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Making money should be your only mindset, every risk is worth taking as long as it is for a good cost in your life ..start earning now by investing in bitcoin/ forex and real estate today
So let's be honest it's scalping lol
Disappointed to see one of these videos glorifying a scalper.
It’s alll news that’s all .. CNBC don’t care and Neither does Wall Street.. can’t you see that there are the ones who created the downfall of 08, and now they are highly glorified like the saviors of the worlds money.. It’s amazing to be the hero and the villain all in one ain’t it ??? Lol
I love these videos but this is just glorifying a scalping business...
Umm… I guess every retailer is scalping business because most buy cheap products from China and resell at a higher price
@@kind2423 Retailers are usually buying these products from manufacturers / suppliers though. Which is a normal way business is done, I agree.
This guy is buying stuff already marked for retail that is in high demand and marking that price up even more. Don't see how this is any different than the people buying up all the PPE at the height of the pandemic and reselling for disgustingly high prices.
Actually wouldn't be surprised if this business did the same.
Cry about it
@@noevegajr3379 because pools aren't essential and he is getting goods to people that can't or don't want to go to the store.
Just wait until he starts private labeling products 👀
Honestly I’m surprised he kept going with the whole retail arbitrage thing for that long. It’s not really all that profitable, from what I know from learning from other Amazon sellers … plus as shown in the comments here, it can really tick off your local Walmart customers!
@@shinyshinythings lol yeah retail seems to be a starter better to get into wholesale or private labeling. A lot of wholesale suppliers get their items from Walmart too
CNBC Make It made the exact same video 3 years ago about a different person: "This 28 year old's business makes millions buying from Walmart and selling on Amazon"
except he is 16. That is a huge difference to me because i wasnt even allowed by my mom to have my passeport in my bag when I was that age 😂 Shows really great dedication and maturity
The guy is 16! While I don't really like the "scalper" business model, I'm impressed that he found a way to make money instead of wasting his time on social media.
@@anoukc6928 I agree. When i was 16, I was spending my times playing video games. This guy could be a millionaire by age 25
@@Andy-py8sz I don't know. Someone told me that now Amazon shut down those kind of accounts. And not a lot of people get rich in the retail business, it's highly competitive and difficult too.
Wait so he's a scalper?
I understand that most of these are non-essential, luxury items, but how can anyone call this moral? :/
So someone selling there house because it’s worth more because of demand is immoral?
People who blame opportunist rarely turn there at the people who created the opportunity. If the price is too ridiculous the demand will simply fall
unless it’s a life essential like you mentioned because then people are forced to buy it which is immoral
@@treygraphicsfte6747 By your logic, a house isn't "life essential" then?
@@skyty0 a house isn’t you can get an apartment instead
@@treygraphicsfte6747 yeah and an apartment isn't essential you can get a cardboard box.
@@treygraphicsfte6747 actually what's immoral is when eBay banned the sale of lifesaving essentials during the pandemic...sales people were gauging prices on purpose selling masks for 50 bucks and ish...I thought I could help essential workers with the pandemic but they banned sales for a while but you know what's even more immoral???..China banned sales of oxygen generators, anything from breathing apparatus to even rapid test kits which I discovered from a certain biotech company was able to supply more than 50,000 units which is insane because there's always a lead time for manufacturing....I wish I made a video because that whole 2020 was a big smelly immoral rat stink
He's no different than a ticket scalper. Takes advantage of desperate people and ripping them off.
Very similar. Both are non-essential items. They are just kids so I think they just need to be told (I don't really blame them; just a lesson they need to be taught). But the staff of "CNBC Make it" (A bunch of adults) should know better and should absolutely NOT be endorsing content like this. That is a serious failure on their part.
@@garrett5214 it's epic done be Karen and complain
@@AccountAccount-pn5hz Is attempting to call me a Karen supposed to invalidate my statement? That really isn't a good argument when what I said is valid, especially because my statement is based on Ethical Business law.
What they are doing is a form of profiteering, which is definitely illegal.
They are willingly buying, so how is he ripping them off? He's not forcing anybody to buy. There's demand, period.
@@FactStorm well... it's true that somebody wouldn't care...but the comparison here is valid. these people will always exist as long as the law doesn't exclude them
I love that he wakes up at 10 in the morning.
LOL I missed that detail!
So, a scalper
Better than working at Mc Donalds. Stop being jealous of a 16 year old.
@@Andy-py8sz Why is it better than working at Mcdonald's. At least those people are respectable or are they trash because they make an honest living.
@@kozmik4848 he’s making a honest living too. Lots of sellers on Amazon do the same exact thing as him. Hes Smart. Don’t hate the player hate the game
Kudos to him but the profit margins absolutely terrible
Yea lol
Yeah sales of a million and take 100,000 (10%) profit but he’s sixteen so kudos to him.
Exactly
Profit is profit. The thing with amazon is that it allows you to scale up quickly and move volume.
So basically just scalping with mommy and daddy's help, cool CNBC - very much inspired!
Why include this scalper in a video? That's just insane. Wouldn't be surprised if he scalped hand sanitizer as well.
And he's paying his friends $15 an hour? What?
@@andrewpagan they will probably start their own companies later
stop being jealous of a 16 year old. Hes doing bigger things that when we were 16.
@@Andy-py8sz He's scalping people on the internet Andy.
@@andrewpagan he deserves to, he is taking the risk of purchasing supplies with his cash, and it’s stuff that might not sell so he could end up with a bunch of useless items
For a 16-year old, starting any business is an achievement but this young man needs help. $1.7 million in sales and netting $110k = 6.5% margins is terrible and one disaster away from going out of business. Amazon increase in their cut, retailers cutting resellers off, etc.
He needs to buy wholesale to begin with. For those of you youngsters who may not understand, taking home just 6.5% of your total sales, is not the kind of business you want to be in unless you’re selling real estate.
I totally agree Amazon is hurting... it doesnt matter what your margins are .... 1% or 100% ... just sell quantity , silly little boy
Yeah you tootin youngster whipper snappers
I don't think he is storing his inventory.
@@CmdrTigerKing he's a scalper
Most retail businesses have low profit margins. This is normal
“Although the pandemic was really terrible, I was able to take advantage…” This kid is everything that is wrong with society right now.
thas why he makes more then you
There’s an opportunity in every crisis. You can either find the opportunity and act on it, or just come to UA-cam and hate on a 16 year old who decided to hustle when his friends were playing Fortnite.
@@verifieduser499 this is such fax you need to make the most of it, bro is 16 and a 40 yearold is hating on him when he makes more money then her...
@@jacksonvilker6748 you're going to use a fax machine to fax a document?
It’s called self interest, every living thing is on their own, it’s nature, adapt or die
cmon CNBC who is greenlighting these videos?? Yikes
I grew up in Hopewell NJ! Although, I’m not a big fan of your business model. Hopefully you can use this experience as a jumping off point to start something that provides more value to the world.
Dude is making millions his friends are helping his business and he's paying them minimum wage 😂
He said he made 110K in a year. Let’s say he pays $20 instead of $15. Let’s 21K difference per year, for 2 employees. 21K is 20% of his annual net. He can’t afford to pay more, if he wants to expend his business.people like you are the problem, you just saying things without thinking first…
@@levanc.5763 as business owner to make 20 percent extra net income is lot. Wonder if they are on payroll or 1099 workers.
@@KirkAtamian most likely 1099 which means they will pay next to nothing in taxes , thanks to their smart buddy
@@levanc.5763 I mean he makes 110k after paying his friends unless they are talking about this year (I assume hired them this year). But yeah 15 an hour is good where they live. In SoCal that would be too little but they are young too so 15 an hour just packaging stuff is a decent dealt. He'll probably pay them more as he makes more money too
Not interested in a video about a scalper.
Amazon now is 95% People literally just buying on Walmart and Alibaba and reselling on Amazon as a business….
Alibaba for days.
Although I can praise his proactivity at such a young age, this business is no different from the bandit asking for a fee to cross a bridge.
It's only contribution to the economy is inflating prices. You may call it "play by the rules of supply and demand", but this is harmful opportunism that benefits nobody except himself.
Every single penny he makes comes from an overprice buyers should not be paying, because he got on the way... Just like the bridge bandit.
I am not entirely sure why people don't just skip him and go straight to Walmart or Amazon. Why would anyone settle for a smaller store selling the exact same thing at a markup? I just don't get it.
Because scalpers buyout stock so that you can only buy it through them, the "middle men." It is the same thing that happened with collectables like pokemon cards during the pandemic. Scalpers took advantage of the situation (inflated popularity of games and home activities) to profiteer by buying out all the stock and reselling it for double or more the price.
Normal middle men are fine and actually very good for an economy (such as distributors or retailers). They are essential in supply chains, actually (you don't wholesale buy everything for a reason, generally because it is impractical especially with minimum unit orders; not to mention transport logistics). It is the middle men who profiteer or take advantage of the consumer that can cause problems (and I think it is unethical as well) by cornering a market and driving up prices artificially.
@@garrett5214 yup they destroyed the console market
I don’t see how this kids decision helped anyone but his greedy family.
I’m glad I don’t have that retail therapy sickness like 98% of the world because this kid got y’all good
So what if he is scalping products. All businessmen do. He is 16 and he has a great future ahead of him. He was out hustling grown adults during the pandemic.
Lol, exactly. But low, sell high.
@@firebrand7753 Exactly people who don't understand that don't understand business, how do you think apple, Gucci, or Louis Vuitton make profit.😂 😂 😂 😂
Exactly Walmart is buying/manufacturing low & selling for profit. Business 101
Then treat it as it is. A scalper. Stop removed negative connotation from scalping by justifying it.
1.7 million in sales, 110k profit? Okay...
he is just scalping
amazon fees and fulfillment fees really cut into profit margins
Reinvestment back into business. “Profit” is taxable.
margin are around 8% in amazon fba...
@@moneyobsessed 8% + storage fees and most scalpers are looking for 10-20% profit margin so 8% alone is a good amount. Also it depends on the product, on certain products the fees are higher
Amazon: that's a decent business, I'll undercut you.
Amazon is basically the landlord of the mall in which he operates where they can terminate the lease any day they want. And he plans to make some investments in warehouse facilities 🤦🏻.
That’s why I haven’t been able to find a pool at Walmart lol
Literally just a scalper...
It’s really sad how many people lost their jobs or are struggling with money since the pandemic started and not being enough they are paying twice the price for basic things on Amazon. Way to go 👏🏼
You can always not shop on Amazon loo
@@zomby2607 That makes as much sense as dirt is to water is to sunshine.
Thank you for this comment!!!
@@oliviao2238 exactly my point lol
@@zomby2607, I was gonna make like a 4 layer dip for the party tonight, but instead caused a short in the modifier of a component I was relishing for days.
If he took his 100,000 and long-term invested it into the S&P 500, he could definitely cruze into millionaire status by his 40s.
Unless he buy long calls, then it would be a lot faster than buying a whole bunch of shares
Contributes nothing of value and acts as a leech on society buying existing products to charge normal consumers higher prices. Not impressed.
Poor person mindset . He provides so much value to customers who get the opportunity to easily purchase a product in the click of a button and have it delivered to their doorstep.
@@Yessirdoit's a poor people's mindset sure but those poor people are more honest that scalper supporters like you. And no he doesn't provide any value when scalping just does is increases prices.
Wait so we are glorifying a scalper? Wtf lmfao
Ew. Resellers. 🤢
This is why I NEVER buy from Amazon
I thought this was against Amazon’s rules?
It's nice to see Prince Jackson making some business moves.
I understand what he’s doing but why wouldn’t you just eventually buy wholesale and resell that at normal prices on Amazon?
Because he's getting a better deal probably at 75 to 80 percent off at bulk sales.
Why if u know it better dont do it urself?
Interesting question! The problem with whole sale is that you need to order a minimum of items to get a good price just for one item, which increases investment and reduces your product choice
you missed the part where he said limited supplies are key to sale
Walmart has their own cut-rate supply chains, due to their massive size and the economies of scale. Basically resellers like this take advantage of an existing supply chain. When he says he buys “in bulk” he means that he goes to his local Walmart and buys every one of the gaming consoles (or whatever) that they have on the shelf. That way he gets products that he knows are in demand (because Walmart is stocking them), and because of the pandemic surge in demand in certain items, he’s able to get inflated prices for them.
This where I understand that why Elon Musk is a real life entrepreneur and kinda respected him and how to make money being a middle- man that 1.7m profit is Indeed astonishing but dude you didn't solve any problem you created a problem and made money out of it
he made 110k lmfao
He actually fixed a problem. Not everyone has time to check online or camp outside for hours so he does it himself and charges a fee.
Bro elon makes all his money off the govt subsidies and inflated stock prices from people dumping thier retirement funds into... he doesn't make a profit. It's all a scam. Lol
@@goodbro7846 Musk makes money outside of Tesla… but to your point, Tesla actually was profitable even without credits last quarter.
I still don't even know what he does. He created a car brand?
you know what other things skyrocketed on amazon and while becoming unavailable in the retail stores during the pandemic.. sanitizers and soap
his voice is 20 years older than his baby girl face
I would like to know more about how he was able to get this stuff right before the pandemic hit. This doesn't seem like something that would product tens of thousands of dollars, no value was added back to what he sold.
thats a lot of heavy lifting tbh definitely a limit to it
Funniest part to me is when he says he only pays his friends $15/hour lmao
500000 in revenue and $30,000 in profit. Would have greater returns doing something else. That doesnt even include time, shipping, and gas.
Probably includes everything…if I had to guess. Still a pretty low profit margin….but what better use of his free time could a 16 year old be doing? At best he’d be making 15$ an hour, if he’s lucky enough to get a job like that at his age..…more likely he’d be making closer to minimum wage. There are limits to what he can accomplish with this business model, since it seems like a fair amount of work, and he’ll probably get bored of it within short time. .but he obviously has an entrepreneurial spirit, and the experience he’s gaining from doing this, while still going to school, is priceless. He will go far if he keeps learning and growing.
@@twdjt6245 what is entrepreneurial about this?
Profit should be greater than revenue. His business is operating at a loss. He's spending more than he's earning. Which is unsustainable in the long term. If profit is greater than revenue. The business is profitable, and it has money left over after covering all costs. His revenue is $500,000 and profit only $30,000. No! He's spending waaay more than he's earning.
this kid is going to be a beast when he gets older! he's already focused, just imagine what he's going to do when he's fully able to.
Lol he's not making society better by any means. Hes making it worse
Y'all left his address on show
😂
maybe it was intentional.
Hey maybe you guys can do a video on event ticket scalpers next.
While it is cool this kid is making money. He is literally contributing to price gauging. Kinda of makes me mad that people can’t afford things they want when others just resell for a higher price like the toilet paper and medicine hoarders at the start of the pandemic.
This is why I have been double checking prices on Amazon vs other vendors to see the difference. Lately Amazon prices have been more than other smaller websites and the other sites ship next day or even same day. I’m done with Amazon.
What are these other smaller websites. All I’ve ever heard of is Amazon
Isn't there a max of discounted items you can buy at Wal-Mart ? Like 3 per customer
@@bgyw haven't thought that. But that means he spends a lot of time going from store to store.
Maybe not this guy, but this evolves into creating bots to purchase items online. Very few retailers do recaptcha. That is why during big releases inventory is bought up so fast and websites go down. Basically a dos attack.
No clear the shelve
So basically legal scalping
Didn’t Amazon cut this down on a lot of items
When it is so exagerated yes but u still have the right to do retailing i think
Disgusting. A hoarder / scalper, nothing more. As he said, “I was able to take advantage…”
Wow 😳 you are impressive! I have been wanting to do this to help make ends meet, and help with living costs, but I am afraid... I don't know of what? But you give me hope and incentive 😉 keep up the good work and I think I will go for it!!! Thanks 👍😊
This a good Wal-Mart commercial.
Shutting down business for high school was a mistake. Go get your GED, give school the finger, and go make your fortune.
I'm 16 myself and no where as successful as him. I did get lucky on amc stock so I could say I made some money but wow he has a bright future ahead
Compare yourself to how you were in the past not to other people.
Bruh the whole internet was told about amc stock… that’s not unique
He has his parents’ garage. Not many people have that 🤣
Lololol…but seriously 😔
Wakes up at 10am. Living the good life
Can you use your parents information and if so will that do anything with there taxes and stuff
Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives.
I'm thinking of investing in the crypto market but taking my time to figure out how the whole thing works.
Investing in crypto is very volatile and risky which is why most successful investors trade with professional brokers
The real risk in the Crypto market is the risk of not investing, not the risk of short term price volatility.
I once tried trading myself but made more losses than profits. I wouldn't suggest it to anyone
Nothing beats engaging an expert in any trade, selfishness and greed has deterred many from doing this and they ended up running a huge loss
Seems like a lot people watching this video believes this kid has chosen capitalism over consciousness.
Yep. Exactly. Totally immoral and his parents are on board.
lmao imagine living in americ and complaining about capitalism
@@AkshayKumar-ue1fp Yeah, but sometimes you can do both.
Amazing at that age. I wonder if his account get any trouble of violation when selling on amazon about invoice, trademark, brand?
loved this long commercial from walmart telling us to buy their junk
It’s definitely not a long term business but it good to see that he has the initiative to hustle and make money! Great video!
But the only service he’s providing is “making the same product more expensive”. he’s not adding any value.
@@19031589 he is adding value for himself but I get what you mean.
@@anoukc6928 he's adding to his bank. That's all. And if he'd tried doing this in a third world country, he'd be asked to shut down his stuff the next day
I don’t see how this is admirable business practice . This should not have been filmed, edited, uploaded or glamorized ! There’s nothing entrepreneurial about this - when countless kids couldn’t find roller blades or Nintendo’s to play with , You have this scalper who pretty much took advantage of supply during a time of increased demand. 👎🏾
Huh? So you want countless kids sleeping outside a store waiting for PS5s? You think people have time camping for a game console? These limited items will sell out regardless of scalpers. He's providing a service where he does it himself and you just pay fee. Plus I would rather see kids selling ps5s than running mini drug cartels
He should talk this to shark tank, so they could laugh him out the room with his supposed “business”
I'm watching this while prepping 30some packages for UPS hahaha 🚀🚀🚀
Wouldn't it be cheaper doing FBA.
You won't have to pay employees. You don't have to pay for a warehouse. Shipping by Amazon, should be lower.
You have to process & ship the items to the Amazon warehouse or arrange for amazon to pick it up
I wonder what Graham will say about this
What’s the differentiation and competitive advantage?
How he provides invoice to amazon as he is buying from Walmart.
No legit business, but preying on shortages. I believe in online business and selling products on the internet, but this is just scalping. HE DOES NOT PROVIDE ANY VALUE.
Then don’t buy from him, go to Walmart
The IRS says it's a legit business.
its not scalable or sustainable.
CNBC, I bought lumber in bulk before the price spike and sold it for a profit and made over 6-figures this year. Do a segment on me!
Most people are hating on this kid but yet he makes more money than 95% of you.. don’t hate, learn.
So hes a bulk scalper.. great def need more of them.