I dropped out of uni and quit my job when my side hustle took off… now I make six figures – how you can too | The Sun
A DAD who dropped out of uni was able to quit his job after his side hustle took off – he now makes six figures.
James Josephs, 24, gave up being a graphic designer and decided to focus on buying and selling pre-loved designer apparel.
It’s a path he chose to take after feeling lost working in a job he didn’t love while questioning the years of his life he spent studying.
James said he was a typical young guy who loved designer clothes and was working on climbing the ladder in his career.
But, the 24-year-old said his heart wasn’t truly in it – and a pal had just taught him how to sell apparel online.
He’s now gone from shifting his own pre-loved goods, to buying other people’s and selling them for a profit.
READ MORE ON MONEY
B&M shoppers rave about ‘bargain’ essential scanning for £1 instead of £15
Martin Lewis issues holiday warning about ‘trap’ for anyone renting a car
James now runs a massive online store and is also opening a shop in Staffordshire named Mister Drippy.
The dad-of-one told The Sun: “I dropped out of uni and I didn’t know what I wanted to do with my life.
“I was big into designer stuff and I kinda saw a gap in the market really.
“I then started buying people’s pre-loved clothes and making a profit off them.
Most read in Money
I tested supermarket meal deals and chain's offering is easily the most generous
I abandoned my 7-bed house to build tiny home and live off just £200-a-month
DWP issues warning for millions on benefits over text message you need to ignore
High-street favourite closing more stores TODAY – is your local shutting?
“It was a side hustle.”
James said something about chasing his graphic designing dreams “didn’t sit right” so he made the wild decision to walk away from it.
He admitted he had always struggled at school, and by the time he reached his fourth year of studying he was over it.
James explained: “It just didn’t sit right with me. I ended up dropping out.
“In 2018 I started selling clothes – I just kinda got obsessed with it.
“I didn’t even know what I wanted from it.”
James kept working in his part-time graphic design job despite deciding it wasn’t a career for him – using his lunch breaks to keep at his side hustle.
But, it was when Covid hit and his son was born that he gave the job up – and threw all his time and effort into running his own company.
James said he put in the hard yards in the very beginning, and now people and other businesses come to him.
The dad continued: “I would spend a lot of time choosing the products – looking for deals I could flip.
“Now I’m attracting all the stock.”
And while he admits it still is very time consuming, and he rarely gets a day off, he wouldn’t have it any other way.
James said: “The messages, replying, it’s non-stop.
“But I don’t drink, I don’t go out – I go to the gym and that’s my break.
“I love it – that’s why I do it.”
Read More on The Sun
Shoppers are hurrying to B&M to snap up £1 bargain buy to transform their garden
I’ve found the best lido for kids…it was so fun & under threes go free
And he’s reaping the rewards – last year was his “first six-figure year”.
James said: “I just want to grow the business as big as possible.”
What are the rules around paying tax on extra income?
According to The Times, if you regularly buy and sell stock online, and are earning more than £1,000 through the side hustle, HMRC will consider you a trader.
You will then need to register the business as a company.
If you are earning less than £1,000 this means you don't have to pay tax on that income.
Source: Read Full Article