16-year-old makes 6 figures selling sneakers, shares spreadsheet
- Shaan Jasti is a 16-year-old sneaker reseller who has pulled in over $125,000 in sales since January 2019, according to records that were confirmed by his accountant.
- The soon-to-be high-school senior attributes his success to his meticulous bookkeeping. He keeps a detailed record of expenses, sales, inventory, and profits, which helps him make the most of his business.
- “I have so many pairs coming in that organization is really key,” Jasti said.
- The teen entrepreneur shared parts of the spreadsheet he uses to maximize his profits and revealed how he makes his money as a major supplier to sneaker stores.
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At just 16 years old, Shaan Jasti is the owner and founder of a successful business.
The soon-to-be high-school senior has pulled in over $125,000 in sales from selling sneakers since January 2019, according to records that were confirmed by his accountant. Since the start of this year, the teen has brought in over $43,000 in sales and expects to hit six figures in sales by the end of the year.
According to Jasti, his unique business model, which is partly based on his connection with a bulk supplier, is what differentiates him from other people in the resale business. Unlike most sneaker resellers, Jasti makes money from buying hundreds of pairs of limited-edition and general-release shoes from his supplier and then selling them to his roster of three to four trusted bulk buyers. These buyers, who regularly purchase hundreds of pairs from Jasti, then sell the units in their sneaker stores in China and the US.
Regularly closing deals like these is no small feat, especially for a 16-year-old. Jasti said it wasn’t uncommon for a client to drop between $30,000 and $50,000 on just one order with him.
“My model is I always make sure I can make profit, but I always leave room for my customers to make profit,” Jasti told Business Insider in an interview. “So they keep coming back, and I keep everyone satisfied.”
Beyond his business model, Jasti attributes his success to his meticulous bookkeeping and detailed organization. Using spreadsheets and QuickBooks, Jasti keeps a detailed record of expenses, sales, inventory, and profits to help him make the most out of his business.
“In my opinion, you never really know if you’re making money until you put the numbers in a spreadsheet or QuickBooks, or run the numbers,” he said. “And then you can see for yourself the proof.”
The teen entrepreneur shared parts of the spreadsheet he uses to maximize his profits and revealed how he makes his money as a major supplier to bulk buyers.