A 14-year-old Australian teenager has made thousands of dollars re-selling Chinese toys in Australia.
Will Deeth, a Toowoomba Christian College student, buys toys in China during trips with his parents and then sells them online and through his pop up shops back at home. According to The Chronicle, the young entrepreneur saves most of his earnings in the bank as he plans to purchase his own house before he turns 18.
The budding business founder reportedly learned most of his strategies from his mom who would take him along when she shops. Deeth first traveled to China last year to find items to sell. With some guidance from his parents, he was able to research and choose the goods he wanted to buy.
Deeth started by looking for items he thought kids his age would buy. After market-testing a variety of products, he began importing the most interesting toys back to Australia.
His imports were an instant hit when he sold them at the PCYC Markets and his trademark “Will be Fun” popup shops. Deeth’s toys also became very popular on eBay, earning him $10,000 (66,547 RMB) in just one week after spending just $2,500 (16,637 RMB), reported China Youth Daily (via Shanghaiist).
The teenager’s parents used to run China Purchasing Consultants, an importing business whose name was later changed to “I Will Import.” Deeth’s family now focuses not only on buying direct goods from factories and wholesalers in China, but also on helping others do it too. According to the company’s website, their clients who began selling Chinese products have reported a markup of prices from 100% to 400% from the items original price.
Deeth has always enjoyed their trips to China as his parents always allowed him to mix business with pleasure when visiting the country. The family has visited a number of historical landmarks including the Forbidden City, Summer Palace and Great Wall. Deeth and his mom will be returning to China in August for a seven-day trip to buy more products.
Interestingly, while Deeth and his family are making a decent living out of Chinese products sold in Australia, some business-minded Chinese students have been making a huge killing selling Australian health products to Chinese consumers. The students who live in Australia, earn up to $3,000 per week by buying and reselling baby formula to Chinese customers by using the social messaging app WeChat.