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A comment on 28-year-old makes millions buying from Walmart, selling on Amazon. Parent comment

Re:28-year-old makes millions buying from Walmart, selling o... by forkLding on Sunday November 05, 2017 @03:49PM (#15631469)
The article might be exaggerating but it did state that he had 'millions in profits' at first paragraph.

Salary is a different matter, CEOs of new companies dont earn from annual revenue but more from stock sales and gains.

Paying 150k is also before taxing and profits and is an expense in wages.

Taking a quick guess and say that this person has 1 million in profits, but most likely 1 million to 2 million in gross profits instead of net from what I can think is more likely and 150k in his salary as well as wages for 11 people and warehouse rent which likely reaches 700k to 1 million, he likely has around 3 to 3.5 million in revenue and net profits of likely 50k as thats your average web retailer net margin

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Re:28-year-old makes millions buying from Walmart, selling o... by dcosson on Sunday November 05, 2017 @04:59PM (#15631904)
So "28-year-old runs a small business that makes millions selling on amazon" would be more accurate than the actual title. But they probably get more clicks phrasing it more like a pyramid scheme ad ("Make 6 figures from home selling ____!")
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Re:28-year-old makes millions buying from Walmart, selling o... by tyingq on Sunday November 05, 2017 @04:06PM (#15631556)
He also says he's doing $200k/month in one spot, then $8M/year in another. Smells funny.
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Re:28-year-old makes millions buying from Walmart, selling o... by giarc on Sunday November 05, 2017 @04:49PM (#15631843)
They are currently doing $200k in sales but "Since he started selling on Amazon, Grant says the business is on track to top $8 million in total sales by the end of this year."

$8 million is sales since starting.

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Re:28-year-old makes millions buying from Walmart, selling o... by tyingq on Sunday November 05, 2017 @04:52PM (#15631866)
The math still doesn't work. He's been at it 4 years, and he notes that it wasn't huge the first year.
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Re:28-year-old makes millions buying from Walmart, selling o... by giarc on Sunday November 05, 2017 @04:53PM (#15631877)
He's doing $200k in sales per month now.... Black Friday and Christmas are just around the corner and are probably 80% of their business (just my guess). Either way retail sales are not linear.
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Re:28-year-old makes millions buying from Walmart, selling o... by chiefalchemist on Sunday November 05, 2017 @04:15PM (#15631614)
Revenue is revenue. Profits are profits. In this case, I'm guessing, it was revenue over $1m.
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