At an age when most boys are still gathering up courage to talk to that cute girl (or guy) in their classroom, this 19-year-old dude has already become a millionaire! And like all over achievers in the West, our man is an Indian-origin kid. Meet Akshay Ruparelia who is now the youngest millionaire in the UK after having built an online estate agency business, which got valued at £12 million (that’s about ₹102 crore) in just over a year.
Based in north London, Akshay started his website while simultaneously juggling school and negotiating property deals for his business.
Doorsteps.co.uk offers no frills and sells properties for almost a fraction of the cost that professional and established estate agents would charge. In just under 16 months, the website went on to become the 18th biggest estate agency in Britain. And Akshay has already sold £100 million worth of properties since he started off.
He hadn’t even passed his driving test when he sold his first house, a property in Sussex, so he had to actually pay his sister’s boyfriend £40 to drive him there, Akshay told Daily Mirror in an interview. The business soon picked up and Akshay Ruparelia’s company, which began with £7,000 that he’d borrowed from family, now employs 12 people!
So how did Akshay Ruparelia, UK’s youngest millionaire, manage school and work? He told Mirror that initially, he’d hired a call center to answer his calls while he was attending classes and would then return the calls himself after he got home. Akshay Ruparelia’s business model revolves around hiring a wide network of self-employed homemakers across the UK who would show the clients around the properties to be sold.
The teenage millionaire aims his business model to represent something apart from the regular real estate agents in tailored suits.
“Quite rightly people trust mums,” he told Mirror. “Every mum who works for me will be honest and tell the truth. It is important.”
Akshay says the inspiration behind his business is the Ryanair founder Michael O Leary.
“Mr O Leary began by selling flights for just £4.99. His point was that if you can offer customers something at a price they can’t believe and you deliver what you say you will, you hook people in and your business will work,” he told the paper.
Meanwhile, Oxford University has invited Akshay to study economics and mathematics with them but the millionaire teenager has decided to hold off his further studies to concentrate on growing his business. And what does he do with all the money he makes? Akshay Ruparelia rewards himself just about £1000 every month from the profits so he can finally buy his first car.
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