Max Hayden will continue his business and study a career in management information systems.
Photo: Nataliya Vaitkevich / .
Max Hayden is the name of a 16-year-old from Hopewell Township, NJ, who knew how to capitalize on the coronavirus pandemic and figured out how to make money while millions lost their jobs or closed their businesses.
Undoubtedly, the adolescent has a nose for business and above all he has courage, which is very necessary for entrepreneurship.
– Max Hayden (@MaJaHaIII) June 10, 2021
As soon as the pandemic hit, Max began to identify shortages in a large number of products, from ketchup envelopes, toilet paper, to hot tubs..
Many businesses began to close and the supply of products began to fail, which encouraged the teenager to undertake one of the oldest practices of humanity: the reselling of products. Only that it is once supported by platforms that facilitate the sale of items, such as Amazon, Facebook and other online market networks.
As a teenager Max saw the console shortage as a problem for many, so he bought and resold dozens of the newest PlayStation and Xbox machines for up to $ 1,100, more than double the original price of $ 500.
It began to do the same with a selection of products that were in short supply during the pandemic, from patio heaters to Pokémon trading cards.
The 16-year-old made a profit of more than $ 110,000 from the $ 1.7 million of income, according to records reviewed by The Wall Street Journal.
Max hopes to do better this year as game consoles and other products remain hard to come by.
“Some people call this retail arbitration,” said Max, who said the experience also helped him write a school essay on the topic.
The young entrepreneur he spends 40 hours a week on his internet business and the rest of his time is reserved for his studies high school.
From the business he started in his parents’ garage, he now co-rents a nearby warehouse, where he employs two friends for $ 15 an hour to help him with inquiries and packing orders.
His parents support his enthusiasm but are keeping an eye out for Max to continue with his academic preparation, so that he can study management information systems, which surely they will help you take your business to another level.
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