Meet the 26-Year-Old Entrepreneur Earning $462,000 a Year Working Just 20 Minutes Every Day
In the wake of the COVID-19 pandemic, there has been a significant shift in how individuals approach their careers and financial stability. The new generation joining the workforce after years of remote work has been expressing dissatisfaction with traditional arrangements, and there has been a significant uptick in the popularity of startups and side hustles. What was once considered a supplementary source of income has now evolved into a full-fledged cultural phenomenon.
In these times, 26-year-old entrepreneur Francisco Rivera has launched his side hustle with a product that he did not like much to begin with. Initially working part-time with an online tutoring company in Orlando, Florida, the young entrepreneur began contemplating alternative sources of income as schools resumed normal activities post-pandemic.
It was during this search for new opportunities that he stumbled upon YouTube videos discussing print-on-demand side businesses. "After scouring YouTube and Printify's product catalog, I liked the idea of coming up with witty phrases to put on a product, and I noticed a lot of people were already selling apparel and mugs," he said.
This business model involves sellers creating their own unique designs for various products such as T-shirts, mugs, accessories, home decor, and more. These designs are then listed on platforms like Etsy, and when demand arises, they are printed by a printing service or manufacturer and delivered to customers. This approach appealed to Rivera, prompting him to delve into this lucrative venture.
Rivera embarked on his side hustle journey by choosing candles as his product of focus. Leveraging his creativity, he designed neutral-colored organic candles adorned with "witty" labels, crafted using Canva. Utilizing Printify to connect with manufacturers for delivery, Rivera streamlined his operations to work just 20 minutes each day.
His efforts paid off handsomely, with Rivera disclosing to CNBC that his side hustle yielded an impressive $462,000 in sales last year. Despite expenses totaling $55,000 on marketing and Etsy fees, his profit margins ranged from 30% to 50% per sale, leading him to remark, "I’m making more than I ever have, doing less than I ever have."
"The beauty of the [print-on-demand] model is it's so low-risk. It's $0.20 to list something on Etsy. I borrowed someone else's Canva account, but the Pro version costs $120," he added. Despite his initial aversion to candles due to allergies, he demonstrates how commitment and effort can lead to a six-figure income.
"There are so many people I know who are interested in this business, but just can't start. I always say: If you have a 9-to-5, you're putting in work and you already are consistent. You just have to channel that consistency toward something else," Rivera explained.
Discussing the challenges of the side hustle journey, the 26-year-old acknowledges the complexity of sales analytics tools and the nuances of Etsy's algorithm. Despite this, he remains focused on expanding his product line and cultivating a loyal customer base, prioritizing innovation and customer satisfaction in his entrepreneurial endeavors.