Name: Raymond Lei
Company: ooSHIRTS
I got the chance to sit down and interview Raymond Lei who is the founder of a custom shirts company called ooSHIRTS. At the age of 19, Raymond built a million dollar company from his college dorm room in Berkeley.
When we spoke, I got to probe into the process of how he built the company and how he was able to win in such a saturated market. If you’re a young college student looking to make it big from your college dorm room, then you may be interested in following in his footsteps.
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Awesome, I was just scoping out everything Raymond put into this site and the general flow of it last week. Congrats Raymond! I tried to get in touch with him, does he have a twitter or some general channel to go through?
They just get younger and younger don’t they.
That is freaking awesome to have $60,000 in revenue per month at 19 years old while at Cal!
If you don’t mind finding out, what is the monthly expense (COGS) side of the equation so we can figure out net profit?
Is it possible to get 50% gross profit margins, or is it more like 25%, in which case operating profits is more like $15,000 a month, and then there’s the general selling, general, administrative, and taxes.
Either way, I would say anything above $10,000 in net profit a month is SWEET!
Help us understand more Jun, as revenue is always only one side of the equation!
Best,
Sam
Great questions Sam!
I’ll hit up Raymond to make sure he answers them!
Thanks man. He doesn’t have to give exact figures as a private company. A ball park Gross Profit Margin would be insightful. And if he would like to get a net profit margin, awesome!
Hi Sam,
My gross profit margin is about 20%. But my objective right now isn’t to maximize current profit as much as it is to grow, as I have less than 1% of the total market yet a more attractive product than any of my competitors (same product, lower price).
Raymond
Cool, thnx for sharing. And given you have fairly limited SG&A expenses, one can assume your operating profit margin isn’t that much lower, and it’s just paying good old California state tax!
Perhaps you can grow big enough so that a competitor can buy you out!