PS5 reselling has become a hit business during the pandemic. Since people are ordered to stay inside their homes to avoid COVID-19, the majority of them only rely on electronics to pass time.
The case of Max Hayden, 16 from New Jersey is different. He took the opportunity to sell next-gen consoles, and even outdoor heaters to earn money. To his surprise, he managed to earn a profit of $1.7 million by doing his own business.
How Did Max Hayden Do That?
Back in January, AMD said that the chip shortage for PS5 and Xbox Series X will push through until midyear. Many users who want to get the next-gen consoles often fail in obtaining them since others sell them for twice the suggested retail price.
The news outlet reviewed the sales records of Hayden and found out that the teen has managed to amass a profit of $110,000 last year.
To keep up with the reselling, Hayden made sure that he always has a stock of the items in his inventory. If someone is looking for a PS5 that appears to be unobtainable in some stores due to scalpers, Hayden would offer it to the customers even at a high price.
Hayden Runs His Mini-Business
Apart from the next-gen consoles, Hayden also sells hair clippers and dumbbells. He might have thought that salons and gyms were not open during that time, that's why he ended up including it in his selling list.
Like any other kid who goes to school, Hayden does the same thing. After schooling, he will go to his family home garage to start his business. He is also reportedly renting a small space for the storage of his items, The Wall Street Journal reported.
Of course, this business will not be possible through the efforts of Hayden alone. For $15 per hour, he hired his two friends. These "employees" will be assigned to the packing of orders and other tasks.
All in all, Hayden allots at least 40 hours per week for his reselling business.
GenZ Online Money Makers
Gamebyte reported that it's interesting to study the business model behind the concept of reselling especially during the times when few restocks happen. Interestingly, Hayden is only one of many Gen Z sellers who have been thriving in their daily lives through the help of different business techniques.
Most likely, we could notice an influx of them to the popular selling sites like Amazon, eBay, Facebook Marketplace, and more. We could also spot them in Goat, Depop, and other resale apps.
Two years ago, Depop said via Business Insider that more teens are getting richer by selling clothes. Some were able to buy their own car while others have already purchased a house at a tender age.
This article is owned by Tech Times
Written by Joseph Henry