This teen is making a TON of money selling custom socks out of his garage
Having an after-school job in high school is pretty normal. But making $1 million selling custom socks out of your garage? Not so much. That’s the reality for 17-year-old Brennan Agranoff, the CEO of HoopSwagg, his very own custom sock company. He’s been at this for four years, developing his business from a little idea he had at a school basketball game into an actual, thriving online business.
According to CNN Money, he just saw that everyone was wearing the same plain Nike socks and thought there was a space to print designs on them and make money off of his classmates. So he did. Now, he has over 200 designs, like melty ice cream cones and animals, and sells them for $14.99 a pair. Eventually, there will be a way for customers to create their own designs and make their own.
Now, Arganoff ships around 70-100 orders a day and even bought their competitor TheSockGame.com, which means they can add hundreds more copyrighted ideas.
To start, he hit his parents up for a $3,000 loan and had them buy as many plain white socks from Dick’s Sporting Goods to start. He told CNN:
The first year was super slow, but eventually word spread on social media about the socks. It took off and that loan more than was repaid. The family built a little garage on their property and hired 17 part-time employees. Agranoff’s mom works for him, too. After high school, he plans on dedicating all of his time to the business and scaling it to branch into retail locations, with shoelaces, t-shirts, and other swag. He’ll have tons of time to do it, since he’s slated to graduate six months early, even though he goes to school full-time and then works on the business after hours.
He’s had business on the mind for pretty much ever. When he was 8 years old, he was already buying and selling things on eBay.