People called me a ‘dumb a**’ when I quit my 9-5 to sell leggings – I had last laugh when I became a millionaire at 22
A UNIVERSITY drop-out who was called a “dumb a**” for quitting her job to sell leggings online claims the decision made her a millionaire at just 22-years-old.
Maddy Glynn says she now makes over £14k for just 20 hours of work - and it’s all thanks to a “silly little risk” she took nearly three years ago.
The 23-year-old dropped out of her communications degree and went on to take a “soul-crushing” 9-5 job as an estate agent.
But after watching a YouTube video on dropshipping, Maddy decided she wanted to give that a go.
She describes dropshipping as “owning an online business without owning stock or packing it”.
Dropshippers act as the middleman between a business and a customer by marketing products and processing orders without ever seeing the stock.
read more on dropshipping
The business model means you can start a store and sell a wide range of products without ever having a physical shop or warehouse.
Maddy’s unphased by people calling it a “dumb business idea” because it has allowed her to retire her husband from work and buy a house near the beach in Florida, US.
I’m a 23-year-old millionaire that started a dumb business that retired my husband
Maddy Glynn
“I’m a 23-year-old millionaire that started a dumb business that retired my husband,” she recently penned on Instagram.
“I sell leggings for $60 (£47.07) that I can get for $12 (£9.41).
“I don’t have an inventory - my supplier ships orders to customers and I keep the profit.”
She advised anyone looking to get rich as quickly as she has to “find a product that solves a problem” and create a website that you can sell it for five times the price on.
Maddy says that she made just short of £80k within the first five months of opening her dropshipping store, meaning she was able to quit her job.
Now, she makes at least £3k a month flogging leggings online.
“2024 is going to be a CRAZY year for e-commerce,” she added. “Shopping in the mall is dead.
“So, if you’ve been thinking about launching an e-commerce business, now is your time.
What is dropshipping?
Dropshipping is an online business model where the seller doesn’t keep inventory on hand.
Instead, they purchase items from a third-party wholesaler or manufacturer.
You still get the profit and financial benefit of owning an online store without many of the upfront costs that manufacturing and shipping entails.
The work is predominantly work from your laptop at home, and you can constantly add items to your portfolio without paying more to sell them.
However, there is still a risk of difficult supplier relationships and your profit margins becoming lower if your supply chain is too long.
You also have low control over customer experience.
“And if you’re like me and investing tens of thousands of dollars in inventory and physically packing and shipping each individual order sounds miserable, you need to start dropshipping.
“Instead of spending time hauling boxes and driving to the post office, you can run your entire business from your computer anywhere in the world.”