David Forman a senior at Walton High School, has an unusual hobby – he’s a teenage entrepreneur.
“Since the age of nine, all I wanted to do was create my own way and to stop being dependent on others, especially in regards to financial needs,” said Forman.
With the help of his dad, he began selling old video games on eBay to turn an extra side profit from month to month. By the age of twelve, he began to utilize his knowledge of computers and began buying broken computers, fixing them, and selling them on eBay. In 2010, Forman began to focus on a new line of buying and reselling – the buyback industry. The buyback industry is an emerging web service, with dozens of websites buying used products from consumers.
“You can sell a company your old textbook, cellphone, video game, ipod, laptop, etc. If the item still has a value to someone, most likely you can sell it to a buyback website,” said Forman.
Last November, Forman began buying and reselling gift cards. Just last year, the gift card industry spiked to $90 billion in annual revenue within the United States alone. However, between six and ten percent of all gift cards go unused or expire prior to being applied to any purchases.
“I saw an opportunity to create a business that encompasses this principle concept,” Forman added.
Forman and his father, Dan, incorporated Cash Cow Gift Cards in March and went live online the same month. According to Forman, the website is seeing traffic from over 500 unique visitors every day. Through Cash Cow, visitors can sell their gift cards for cash in the form of PayPal, direct transfer, or a check issued by Chase Bank. Sellers are paid within 3 business days for their unwanted gift cards. Visit Cash Cow Gift Gards online or become a fan through Twitter or Facebook.