I make £42,000 a WEEK selling handbags online
A WOMAN has told how she turned her passion for vintage handbags into a business that generates £42,000 a week.
When Nica Yusay was growing up, her family struggled financially, so she would always shop second-hand and look for bargains to make ends meet.
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As she grew older, the 29-year-old became increasingly passionate about vintage fashion, particularly designer bags.
“I like vintage bags because I think they have more character,” she said CNBC.
“They are really unique and of great quality.”
One day, Nica told her fiancé how much she loves designer bags and how much she hates that she can’t buy them all because otherwise she wouldn’t be able to pay the rent.
Read more stories about extra income
Her fiancé suggested that she start buying and reselling handbags so she could make some extra money and buy as many bags as she wanted at the same time.
Nica started her side job in her spare time and said her business really started to grow when a TikTok post she made giving a behind-the-scenes look at her company went viral, reaching 2.8 million views.
When Nica’s sales started to increase, she started selling her bags online once a week.
She said, “I tell my followers that I will drop off these bags at 7pm.
“So if you can make it, it’s your lucky day. And if you can’t, stay tuned for the next one An”.
During the live sale, Nica will be livestreaming her display of the bags, and people will be able to purchase them from her via a link to her Shopify account.
Her bags sell for hundreds of pounds each and she tries to sell 20-30 per sale.
When Nica’s company, FashionNica, started generating six figures in revenue, she decided to quit her job and focus on her vintage handbag business full-time.
Her company now has a turnover of more than $1 million and brings in £42,000 a week.
How to start your own business?
Dragon’s Den star Theo Paphitis revealed his tips for budding entrepreneurs:
- One of the biggest barriers that aspiring entrepreneurs and business owners face is a lack of self-confidence. You have to believe in your idea — and more than that, be the one to bore your friends to death with it.
- Never be afraid to make decisions. Once you have an idea, the confidence to make decisions is crucial to starting and maintaining a business.
- If you don’t take calculated risks, you’re standing still. If a decision turns out to be wrong, identify it quickly and act on it if you can. If you can’t, find someone else who can.
- It’s okay not to get it right the first time. My experience of making bad decisions has helped build my confidence and made me who I am today.
- Never underestimate the power of social media and remember that the internet is an equal opportunity for small businesses.
- Don’t forget to dream. A machine can’t do that!
The owner said that all the bags she sells are specially put together based on her style and love for fashion.
“If I don’t like it, I won’t sell it. Otherwise I risk having to keep it,” she said.
Nica has now hired her mother and sister to help her with her business. She works six days a week, sourcing, marketing and shipping bags to customers.
In the futureShe would like to have a whole team of people working for her and she would like to work from a warehouse instead of just from home.
She said: “This didn’t happen overnight. I put in a lot of hours and made a lot of sacrifices.
“I’m so proud of how much this has grown.”
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