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How This 30-Year-Old Turned Her $3,400 Tax Refund Into A $12,000-a-Month Side Hustle

 

When Shereen Campbell graduated from the university, she couldn’t get a job in her industry but survived largely on gigs. She eventually landed a job as an assistant buyer for a major retailer but after seven years in her job, she felt unfulfilled and started searching for her purpose in life.

Campbell took to the study of mystical arts, astrology, and healing practices. According to the Business Insider, she then realized she wanted to start a business that would allow her to channel her passion and knowledge.

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She did not have enough money to start her business but knew she had a tax refund coming in worth $3,400 which she usually spent on vacation, shoes and clothes. She decided to use her tax refund to create My Little Magic Shop, an online shop for tools including crystals, herbs, and oils, at the age of 30.

Six years after founding My Little Magic Shop, the business is now generating around $12,000 a month in revenue and Campbell is projecting to hit $20,000 a month in the near future.

In order to stay within budget, Campbell researched what is needed to start a business and mapped out what products and services would be essential for the first month, such as web hosting, and then looked for the best rates.

She found an affordable platform that allowed her to build and host her website for $46 a month and then picked a hosting company to host her domain name for only $12 a month. In her first month of operation, she focused on supplying products like candles, herbs, and oils for under $1,800. She spent an additional $1,535 on labels and boxes.

She also relied on friends to help her cut costs. For instance, a co-worker helped designed her brand logo for her. She also found suppliers who did not charge additional fees for adding her logo to her packaging. And for her boxes, she found a supplier on Alibaba who was willing to reduce their final cost.

Despite working on her side hustle, Campbell still kept her day job so as to put any money she gets into her side hustle. For the first year of operation, she sold her products on her website, and then added subscription service which brought in roughly 50% to 70% of her revenue.

Last year, she said that she plans to quit her day job when she accumulates $60,000 for a safety cushion and her business is bringing $20,000 a month. According to her, she gets fulfilled when she gets to work on her business and interact with her customers.

“It also gives me something to really dream about for the future. I get to think about how amazing it’s going to be somewhere down the line when I get to work on this full time,” she told the Business Insider.

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Written by PH

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