Lin started her first side hustle in seventh grade at an athleisure company called TLeggings, writing a business plan for $23 leggings and hiring a factory in China to manufacture them. Although annual revenue was as much as $300,000, the company was never profitable because of the competitive apparel market, Lin said.
She closed it and switched to a new enclosure design for her 2 pound pet. Lin, who has kept guinea pigs for many years, says typical cages smell bad and don't have much room to roam. She worked with another Chinese factory to design an open-air replacement facility and used $2,000 of her savings to launch a side business called Guinea Loft in November 2022.
Rin's pet roams freely in the Guinea Loft enclosure.
vera lynn
Guinea Loft, which sells on Amazon, generated more than $410,000 in revenue last year, according to documents reviewed by CNBC Make It. The company's profit margins are 25%, he says, and all profits are reinvested into the business, said Lin, a high school senior from Mountain View, California.
For your side hustle to be successful, she says, you need to check two boxes. ”[It’ll work] If they have something they are passionate about; [they find] Obvious gap in the market. I think anyone can do that. ”
Here, Lin talks about how to start a side hustle like hers, what she wishes she had known before launching Guinea Loft, and what it's like to live a double life as a high school student and an entrepreneur.
CNBC Make It: Do you think your side hustle is replicable? How much does it cost to start?
Hayashi: Yes, I think so.If you want to create some units [of a product] Some models must be ordered to be listed online. [search engine optimization] Start by purchasing your marketing products on Amazon. It can cost between $1,000 and $5,000.
Then measure people's reactions [before spending more].
Why did they switch from selling athletic leggings to more niche products like guinea pig cages?
Thanks to TLeggings, I realized that many other companies are trying to do this. [the same thing]. There was no room for innovation.
At Guinea Loft, we felt a gap in the market that has not received much attention. Small pet cages have remained largely unchanged since their invention. No one is trying to create something new.
We were confident in the design of our products because we knew what consumers wanted. But I didn't know that was what they really needed. If I had known how accepting people would be of our cage, I would have started this earlier, even in middle school.
What do you wish you had known before starting your side hustle?
I didn't know about the layers of bureaucracy I had to deal with.
[For example] This spring, when Guinea Loft sales were picking up, there was a glitch on the Amazon website that kept our cages listed under records and CDs in the U.S. market. People couldn't find our product for hours, and it took five three-hour phone calls to customer support to resolve the issue.
Some online sellers have complained about counterfeit products. Have you ever encountered that problem?
Counterfeit products are already on the market on Amazon. I actually bought 4 and tried them out. Poor quality and bad reviews [I suspect] I can't get any sales.
These cages are manufactured by companies that already do millions of other things, including backyard furniture and wedding decorations. They are not as keen on small animals and innovation as Guinea Lofts.
I am not seeking a patent for Guinea Loft. Because it does not significantly impact the protection of our product design.Additionally, you can simply undercut [competitors] — Our materials are locally sourced and manufactured in-house.
What advice would you give to people looking to replicate your success?
Be realistic about your business's viability and have clear goals. I think it's a little bit harder to build a business, especially now that there are so many resources out there. If you feel you don't have much experience, you can also put your startup in an incubator.
It is also very important to prioritize your own company. My guinea pigs are at home, but even when I'm out, I'm always thinking about work. I take a lot of economics classes at school. I am the business manager for the student council and the business leader for the robotics team.
Then, when I get home, I respond to messages from my team. It's always in the back of my mind.
This interview has been edited for length and clarity.
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