Thursday, Nov 28, 2024

I run a multimillion-dollar slime business at 19. Here's how I got started in middle school with only $200.

Jungmin had always enjoyed making things and being creative.
  • Jungmin Kang started making slime out of Elmer's glue and borax as a hobby when she was 13.
  • She set up a business that generated eight figures in revenue in 2022.
  • Kang said being in the same age bracket as her target audience helped with its success.

This as-told-to essay is based on a conversation with Jungmin Kang, a 19-year-old from Round Rock, Texas, about building a business while in high school. Insider has verified her income with documentation. It has been edited for length and clarity.

I started making slime in 2017 when I was a 13-year-old middle schooler after watching a video on Instagram. I quickly got hooked on this weird but satisfying slime. My friends would play with slime, too.

I realized that you could easily make it with glue and slime activator, which is borax diluted in water. I bought some bottles of Elmer's glue and made it at home.

I already had an idea of how to make slime, from making Oobleck from cornstarch and water in science class. I also watched YouTube tutorials, but most of the recipes on there were pretty basic.

I later figured out my own recipes and added in different ingredients to experiment with textures.

I've always loved making stuff with my hands and being creative

I was also interested in entrepreneurship from a young age — I would sell notebooks I made to my friends and my classmates. I tried making money from streaming video games like "Minecraft" on Twitch.

In January 2017, I asked my parents whether they could invest $200 so I could start my own business.

My family was confused about me wanting to spend so much on glue and slime activator. But my dad had always encouraged me to try new things and take risks. I bought the items in Walmart, as well as a bowl, a spatula, labels, and bubble mailers.

I set up an Etsy account that same month and started receiving orders in February. I then created the Snoopslimes Instagram account, where I'd post ASMR — autonomous sensory meridian response — videos focused on the sound and visuals of the slime. The account quickly gained traction, and I pulled in over 1 million followers within a year.


Jungmin Kang posing with some of her products
When Jungmin started high school, it became difficult to balance the business with her education.

In the business' first year, we charged between $8 and $10. The first product we sold was a bundle of clear slime in a gelatin cup with flowers sprinkled on it.

In December 2017, we were getting 100 to 150 orders a week. I asked my parents whether I could move the business into an office and make it into something bigger because we were outgrowing the space at home. The whole house was filled with glue and slime materials.

It wasn't that difficult to balance when I was in middle school because I had a lot of time when I came home and less homework. But when I started high school in August 2018, it became difficult to manage.

I was taking a lot of AP classes and in the marching band, with rehearsals every day after school.

In February 2018, once the fan base and Instagram following had increased, we decided to move from Etsy to our own website hosted by Shopify. It meant we were able to direct prospective customers straight to our website.

I realized I needed to work smarter so that I wasn't burned out all the time

I hired my mom as a full-time manager in August 2019 so that she could process and pack the orders while I was at school. My mom's friend was our second hire, and she helped package orders, too. I also hired my dad to manage the finances and help me out with inventory. Before that, my dad worked for Samsung and my mom worked at a bakery.

I was a minor at the time, so I hired my parents by opening an LLC, and my parents were made LLC managing members.

On an average weekday, I would answer emails before school and was able to work on my business during the school day — my teachers were fine with me opening my computer to work on my business during class as long as I was done with schoolwork.

When COVID-19 hit in 2020, all my classes went virtual. I would do my classes at the Snoopslimes office and work on it when I wasn't at a class.

We've reached all our customers and followers from videos I've posted on Instagram and TikTok. I think being in the same generation as most of my target market helps because I'm able to quickly think up ideas based on trends that are going viral.

I like to post videos of me introducing new slime products. It's important to have the face of the brand out there so that customers can engage with me.

Our "dalgona" slime was created after I saw the treat on "Squid Game," but it was also a way to celebrate my Korean culture — it's a snack I've always eaten. I also collaborated with Netflix to create a slime for the "Slumberland" movie premiere.

The business now has 40 employees — we make all our slime in-house, so most are in manufacturing positions. We also have a marketing department, warehouse department, and my parents, who are managers.

When we made our hires, we looked for people who were friendly, good at working on a team, and had a good work ethic. We hope to hire an in-house content creator soon.

We charge between $17 and $18 for our slime, which is now a lot more detailed and intricate. We sell clay add-ons that look like real food — some are even scented — and we use custom labels. One of our slime products is called raw honeycomb, which smells like real honey.

Our best sellers are the do-it-yourself slimes that people can mix together themselves.

We make about four to five test recipes every week for me to feel and play around with. They're then finalized before going into production.

We receive about 4,000 orders a week. During the busier seasons, we get up to 6,000 orders. We have customers from all over the world. Most orders come from the US, the UK, and Canada, but we get orders from Australia and Africa, too.

Last year, the business made eight figures in revenue.

Being a business owner has taught me about persistence

When I started, some of my classmates called slime childish and ridiculous. There were moments when I wanted to give up, but I soon learned that continuously posting on social media no matter how much engagement posts got was key. If I were starting now, I would make sure I had a business plan.

This is the first year I've been able to put all my focus on the business because I'm taking a year off before I start college in August.

Next year, I'll be going to the University of Texas at Austin. People have told me I don't have to go to college because of the success of the business, but I think education is important. I live about 20 minutes from the university — and I plan to commute back and forth to work on the business.

I'm excited to see where Snoopslimes will go next.

Read the original article on Business Insider
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By: [email protected] (Lola Christina Alao)
Title: I run a multimillion-dollar slime business at 19. Here's how I got started in middle school with only $200.
Sourced From: www.businessinsider.com/gen-z-teen-made-money-selling-slime-in-high-school-2023-3
Published Date: Thu, 23 Mar 2023 09:41:27 +0000

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