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The article might be exaggerating but it did state that he had 'millions in profits' at first paragraph. Salary is a different matter, CEOs of new companies do
by forkLding 9y ago
The article might be exaggerating but it did state that he had 'millions in profits' at first paragraph.
Salary is a different matter, CEOs of new companies dont earn from annual revenue but more from stock sales and gains.
Paying 150k is also before taxing and profits and is an expense in wages.
Taking a quick guess and say that this person has 1 million in profits, but most likely 1 million to 2 million in gross profits instead of net from what I can think is more likely and 150k in his salary as well as wages for 11 people and warehouse rent which likely reaches 700k to 1 million, he likely has around 3 to 3.5 million in revenue and net profits of likely 50k as thats your average web retailer net margin
- tyingq 9y agoHe also says he's doing $200k/month in one spot, then $8M/year in another. Smells funny.
- giarc 9y agoThey are currently doing $200k in sales but "Since he started selling on Amazon, Grant says the business is on track to top $8 million in total sales by the end of this year." $8 million is sales since starting.
- tyingq 9y agoThe math still doesn't work. He's been at it 4 years, and he notes that it wasn't huge the first year.
- giarc 9y agoHe's doing $200k in sales per month now.... Black Friday and Christmas are just around the corner and are probably 80% of their business (just my guess). Either way retail sales are not linear.
- chiefalchemist 9y agoRevenue is revenue. Profits are profits. In this case, I'm guessing, it was revenue over $1m.
- dcosson 9y agoSo "28-year-old runs a small business that makes millions selling on amazon" would be more accurate than the actual title. But they probably get more clicks phrasing it more like a pyramid scheme ad ("Make 6 figures from home selling ____!")