An Australian teenage boy made £47,000 in just 30 days during the lockdown in Melbourne. Marcus Pereira,16, sold household items such as desks, ovens and toys on eBay as he found an opportunity to make money despite the business economic slump across the globe. The 11th grader has been selling household items online since August 2019. At the time, he was only 15 years old but was already raking in about £16,000 on a "good month" pre-COVID-19.
By the time Australia imposed the lockdown in April, the high school teenager was making three times more than what he used to make each month.
Tapping into the current market need for specific items for people who have taken to working from home, Pereira knew he was on the right track to a lucrative business.
"People were buying stuff because they were indoors. They wanted desks because they were working at home, fitness equipment became really popular, and sales for games increased because kids were also stuck inside," he said.
Pereira makes use of the drop shipping method to sell his products which makes his operation a cost-free business model. This method allows entrepreneurs to sell items on behalf of suppliers for a profit without having to pay for storage and packaging as his suppliers do all this at their end.
He is able to advertise big item pieces like furniture and large appliances from end store suppliers such as Kmart through his eBay account and pad on a profit from its original price.
The enterprising teenager realised how much more profit he could make from highly sought after household items as prices started to hit the roof during the pandemic. He took the cue and decided to change things up with his business strategy. Pereira started to buy up these items and sell them at a much higher price. He now stores his products at his parents' home and personally ships them out to his customers for a fee. His sales peaked to about £47,000 a month. the Daily Mail reports.
As of this time, the young entrepreneur has 308 items listed in his eBay store with a range of products costing from £23 to a VR headset worth £1,200 a piece. He has sold 32 headsets since.