Hi! Young Hustler Here!

[100speed]

Im 17, and I like to think of myself as a serial entrepreneur, even though I know I am not one (yet).
I have been involved with the web, since I was 13, making websites for clients. I started doing my own side projects such as inspirizone.com, and uipalette.net (now defunct) which garnered a lot of interest in product hunt and the web design world. When I later became interested in making money, I used my skills to make a website and start a dropshipping business, which is for sale by the way (comes with its own instagram account). I have now started another dropshipping business in a more mass market niche, which I predict will be pretty explosive once I start my FB ad campaign. Whilst building my business, I connected with instagram influencers and now own a network of over 350k followers, and have connections with influencers who have 20million + follower networks of accounts. I would love to share my skills, network and hopefully learn a lot from this forum. My version of TFL is on its way to me as we speak, so Ill be an INSIDERS soon!
Looking forward to meeting some of you
Alex

 

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[Waspy]

Saw the title assumed would be another wantrepreneur. I was wrong.

Great intro. Welcome to the forum!

 

[UrbanLegend]

Welcome to the forum and good luck!

 

[100speed]

Saw the title assumed would be another wantrepreneur. I was wrong.

Great intro. Welcome to the forum!

Thanks man! Glad to see there are some people from the UK on here as well

 

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[miked_d]

Welcome!

Tell us more about your drop-ship business. Why are you selling?

 

[100speed]

Welcome!

Tell us more about your drop-ship business. Why are you selling?

Main reason is I used my brother to sell in the Uk legally but now the income will push him into another tax bracket so he doesn't want the hassle. I have to wait until I am 18 to set my own company up legally, so I figured Id sell rather than wait months and have the store die.
Second reason is I was getting quite bored with the business, although it was earning what I was dealing in just isn't what interested me and the products weren't fun at all, although they did give back to charity.

 

[Waspy]

Main reason is I used my brother to sell in the Uk legally but now the income will push him into another tax bracket so he doesn't want the hassle. I have to wait until I am 18 to set my own company up legally, so I figured Id sell rather than wait months and have the store die.
Second reason is I was getting quite bored with the business, although it was earning what I was dealing in just isn't what interested me and the products weren't fun at all, although they did give back to charity.

You know you can be a company director (and therefore register an LLC) at 16, right?

Set up a private limited company - GOV.UK

EDIT: Also, it sounds like you already have an LLC with your brother as director. Which means you could get yourself as a director within 24 hours. Companies House turn around docs crazy fast. It's pretty easy.

 

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[MJ DeMarco]

Very impressive intro! Welcome aboard and thank you for posting.

 

[grapeslane]

Im 17, and I like to think of myself as a serial entrepreneur, even though I know I am not one (yet).
I have been involved with the web, since I was 13, making websites for clients. I started doing my own side projects such as inspirizone.com, and uipalette.net (now defunct) which garnered a lot of interest in product hunt and the web design world. When I later became interested in making money, I used my skills to make a website and start a dropshipping business, which is for sale by the way (comes with its own instagram account). I have now started another dropshipping business in a more mass market niche, which I predict will be pretty explosive once I start my FB ad campaign. Whilst building my business, I connected with instagram influencers and now own a network of over 350k followers, and have connections with influencers who have 20million + follower networks of accounts. I would love to share my skills, network and hopefully learn a lot from this forum. My version of TFL is on its way to me as we speak, so Ill be an INSIDERS soon!
Looking forward to meeting some of you
Alex

I'm 18, Is there any tip or advice you could give me on your mindset and what cause you to start, I look into drop shipping aswell, And this is very inspirational(Putting your brother into an another tax bracket and doing it in another country !!) Even a little advice would help.

 

[100speed]

You know you can be a company director (and therefore register an LLC) at 16, right?

Set up a private limited company - GOV.UK

You know you can be a company director (and therefore register an LLC) at 16, right?

Set up a private limited company - GOV.UK

EDIT: Also, it sounds like you already have an LLC with your brother as director. Which means you could get yourself as a director within 24 hours. Companies House turn around docs crazy fast. It's pretty easy.

Unfortunately he was set up as a sole trader, so I would have to set myself up, but that wasn't the problem as far as my age is concerned. The problem for me is having a business paypal under my name and a business bank account under my name as well. No bank will allow an under 18 to have credit or a business bank account nor will Paypal (trust me I have tried, some of my money is frozen ahah).

 

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[100speed]

Very impressive intro! Welcome aboard and thank you for posting.

Thanks! Can't wait till your book arrives, if its anything like this forum or better it will be great ! Also, if you could spare the time (as I am sure you are a very busy man) would love to talk about how you published your book, were you self published or did you approach a publishers?

 

[Waspy]

Unfortunately he was set up as a sole trader, so I would have to set myself up, but that wasn't the problem as far as my age is concerned. The problem for me is having a business paypal under my name and a business bank account under my name as well. No bank will allow an under 18 to have credit or a business bank account nor will Paypal (trust me I have tried, some of my money is frozen ahah).

As a sole trader you don't need a specific business account (a separate account is obviously good form). You just need a standard account in your name. As a sole trader, YOU are the business. So you also don't technically "set up" as a sole trader. You just are one.

But anyway, this isn't business class!

If you are making enough profit yiu should be registering an LLC anyway. Protect yourself.

 

[100speed]

I'm 18, Is there any tip or advice you could give me on your mindset and what cause you to start, I look into drop shipping aswell, And this is very inspirational(Putting your brother into an another tax bracket and doing it in another country !!) Even a little advice would help.

My advice is stop overthinking, just do it. Especially with something like dropshipping where there is literally 0 opportunity cost / startup cost. All you need is Shopify, free trial available, a phone (with social media) and a niche and you can get started straight away. My first dropshipping website was inspired by someone elses' I had found on flippa.com . I chose their sort of general category , e.g animals but another untouched niche. Don't be afraid to get ideas from others websites, just don't copy exactly.

 

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[100speed]

As a sole trader you don't need a specific business account (a separate account is obviously good form). You just need a standard account in your name. As a sole trader, YOU are the business. So you also don't technically "set up" as a sole trader. You just are one.

But anyway, this isn't business class!

If you are making enough profit yiu should be registering an LLC anyway. Protect yourself.

Thanks for the advice! As you can tell I need to brush up on my tax and business knowledge lol . Is there a live chat on this forum, would love to discuss this more (if you'll allow it) ;P .

 

[grapeslane]

My advice is stop overthinking, just do it. Especially with something like dropshipping where there is literally 0 opportunity cost / startup cost. All you need is Shopify, free trial available, a phone (with social media) and a niche and you can get started straight away. My first dropshipping website was inspired by someone elses' I had found on flippa.com . I chose their sort of general category , e.g animals but another untouched niche. Don't be afraid to get ideas from others websites, just don't copy exactly.

Thank you so much ! will do

 

[Waspy]

Thanks for the advice! As you can tell I need to brush up on my tax and business knowledge lol . Is there a live chat on this forum, would love to discuss this more (if you'll allow it) ;P .

Hit me up in the PMs if you like, more than happy to answer any questions

 

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[MidwestLandlord]

Great intro!

With the attitude you display here, you'll be rich by age 25, retired by 30. Easy.

Welcome!