From Side Hustle to $300K: How This 24-Year-Old Is Reinvesting His Success

As soon as Jared Ebersole laid eyes on an electric skateboard, he decided he had to have one. However, he faced two major obstacles: his youth and the steep price tag of $1,600 for the model he desired.

Therefore, he opted to create his own, using $800 from his savings for components such as motors, controllers, remote controls, and batteries. Following approximately six months of experimentation and setbacks—including a battery explosion during testing—he managed to construct a functional board at his parents’ house in Catawissa, Pennsylvania. Upon sharing his achievement on an online forum, other members began contacting him, expressing interest in purchasing one from him.

In 2017, Ebersole secured his initial sale, as indicated by records examined from GudangMovies21Make It. When he started attending Long Island University in 2020, his business, Build Kit Boards, was generating approximately $300,000 annually. According to him, these earnings were enough to cover part of his educational expenses—between $4,000 and $6,000 each semester—in addition to several scholarships he received.

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During his time at university, he expanded the company even more. He had just one full-time worker whom he believes put in around 30 hours each week, along with a group of occasional helpers—mostly acquaintances—who pitched in mainly over the hectic summer months. Ebersole dedicated over 100 hours weekly to the enterprise rather than engaging in typical student activities. According to him, by 2021, the yearly earnings for Build Kit Boards exceeded half a million dollars.

During my time at college, I had barely any friends; I used to attend classes without interacting much with anyone," explains Ebersole, who is currently 24 years old. "I thoroughly disliked my college experience.

He felt burned out, completely drained, and close to closing his business when his next-door neighbor at Build Kit Boards' warehouse—a person who managed both an online impact investing group named Impact U and an investment company—proposed purchasing a significant stake in his enterprise. (Ebersole chose not to disclose the neighbor’s identity due to a confidentiality pact.)

In 2022, Impact U acquired 55% ownership of Build Kit Boards for $300,000. Ebersole kept a smaller share and stepped back from daily management duties, as he mentions. He explains, “This work wasn’t fulfilling anymore; I simply repeated the same tasks but now on a larger scale,” adding, “Eventually, I reached my mental limit.”

In the subsequent year, Ebersole completed his studies at college and invested the funds he obtained from selling something into launching a fresh business endeavor. Alongside his associate, Luke St. Amand, they established a company named Lectec. This enterprise specializes in providing DIY electric skateboard kits tailored primarily towards students.

Ebersole puts in 80 to 100 hours each week at Lectec, he mentions—but unlike when he was a college student, he isn’t juggling multiple responsibilities right now. He adds that he’s receiving some assistance this time around. According to him, the firm presently employs two individuals besides its co-founders. its website .

Ebersole mentions, 'I am fortunate enough to be around many great individuals who allow me to step away for brief periods, even just a few minutes.' He also adds, 'Taking breaks from my work whenever possible has become crucial in preventing exhaustion.'

Ebersole featured Lectec on a recent episode of ABC's " Shark Tank where he mentioned that it had generated approximately $150,000 in total earnings up until the point when they were filmed. This presentation resulted in an investment proposal from Robert Herjavec, one of the investors on the panel. Ebersole chose not to verify whether this arrangement was officially completed following the taping.

His counsel for those considering starting an additional business venture: Be prepared to put in significant effort.

Ebersole argues, “The notion that doing something you love means you won’t work a single day in your life is complete nonsense. Instead, discover what ignites your passion, and be prepared to put immense effort into it.”

Disclosure: GudangMovies21 holds the sole off-network cable rights for "Shark Tank."

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