First year Sheffield Hallam student Luke Finney came up with the perfect alternative to what he calls “tiny student loans”. He decided to set up an online business in his modest student accommodation, and is now making thousands from the comfort of his own room.
Luke decided to set-up shop by buying wholesale electrical goods from China and drop-shipping the items straight to his customers. That meant that Luke would have his wholesaler send the items directly to his customers, so that he would save on postage and packaging.
“I don’t even see some of the stuff I sell. I buy most of it from my associates in China who send it directly to my Ebay customers.”
“The item I have made most money from are tablets. They are a budget version of the Ipad. I buy them for £60 and sell them for £99.99.”
The quantity surveying student could not have dreamed of a better Christmas and it took him a while to realise that what he was doing could really make him so much money.
“At first I was skeptical and just presumed that there would be something wrong with the item so I sold one or two to test it out. Before I knew it the Christmas shoppers were out in force and they were snapping them up quicker than I could track them.”
Previously earning just £80-a-week back at home in Stoke-On-Trent in a retail store, Luke had never envisaged earning such a vast amount of money. In the 6 week period leading up to Christmas, Luke earned £13,500. At his previous job, that would have taken him over 3 years.
The 18-year-old is keen to find new ventures. He plans to branch out into larger electrical items in order to increase his profit margin. However, he is keeping his feet firmly on the floor.
“I know what I managed to do was fantastic, but these sort of deals are not a regular occurrence. I’ve treated myself to a few expensive purchases and the rounds have been on me for the past few months but this money wont last forever.”
“It would be stupid to get ahead of myself, my degree is still my priority.”