This is an old story (2017) but we hadn’t seen it until recently, Nathan John-Baptiste, a now 16-year-old from Walthamstow, London has become the self-proclaimed ‘Wolf of Walthamstow’ after growing a sweet tuck shop empire across 3 schools and employing 11 students, he grew the business to £230 in turnover (sales) a day, or £1,150 a week or potentially £43K a year (£230 x 190 possible school days), the profit figures were never mentioned but it’s impressive figures for a lunchtime snack business with little to no overheads.
Aged 12, Nathan started selling sweets and fizzy drinks during lunchtime periods to his classmates presumably undercutting school canteen prices or sugar restrictions that are now in force across most schools, he built this e used Snapchat to let customers know about the sweets and drinks he had for sale in his Walking Talking Shop, from fruit pastilles and KitKats to home-made cookies.
He told the Independent newspaper:
“No one has done what I have. Others have sold sweets, I’ve created an empire,”
Nathan’s school eventually discovered his business and put and end to it, he told the Sun:
“I can’t sell sweets for the rest of my life. The plan is to become a millionaire. It’s just about the hard work.”
He told the Independent that around £5,000 of the profits were saved and is thinking about becoming a stockbroker or investing in property in the future.
Speaking of his parents, Nathan said:
‘They have always instilled in me that you have to work hard for your money and that’s something I’ve done since I was in year four when I set up a very small cup cake business – I only made about £25.’
Would HMRC need to have been informed?
Yes, you would need to inform them that you’re a sole trader and potentially be liable for tax / NI if you were of age and earning over the tax thresholds. Learn more.
Watch a video interview with him below: