From reselling shoes at 14 to owning multiple businesses as a young entrepreneur at 18
Updated: Jul 25, 2022
Founder of Hype Master, Cloud Alerts, Cloud AIO and Ingenium, Remus Er
At just 14, he started out with reselling limited-edition sneakers. Now he is the founder of Ingenium, a one stop retail/resale store solutions provider.
It all started on a normal day when Remus joined his friend to attend the Culture Cartel event in 2018. Culture Cartel is Singapore’s largest street culture convention that features the culture of arts, fashion, music, lifestyle and many more. Upon visiting Limited Edition’s booth, a leading sneaker reseller with branches across the world, Remus realised that these sneakers could be sold again at a higher value when he chanced upon their arcade machine.
This soon led him to start his reselling business, Hype Master in 2019, before the pandemic started. However, since the sale of shoes were not constant, Remus was able to gain profit through creating Cloud Alerts. Cloud Alerts is a discord group meant for those who wished to learn how to obtain limited edition sneakers. This included getting more information and access to the fastest website monitors as well as customised tool kits to help his customers purchase limited edition sneakers at a retail price.
Photo source: Hive Life
Remus then expanded into automation software with Cloud AIO and Ingenium and he’s currently working on launching his own venture as he raises a seed fund for it. Currently in his fourth venture, Ingenium is a software which is a service used for the reselling industry and it’s currently raising its seed funding at $2 million valuation and $300,000 USD raised.
Remus’s parents were not new to starting a business. In fact, Remus was inspired by them to start this business as he was thinking about how he could also make an income as a side hustle. With the constant support from his family, Remus finds himself expanding his business and reaching higher levels as time passes by.
We managed to get a slice of his train of thoughts so here’s Remus!
As a young entrepreneur, how do you manage between school and running a business?
Currently I am able to balance between both. I feel that business is a once in a lifetime opportunity which I'd rather grasp hold of. However, if there are any setbacks that I encounter, I will still be able to have my education to fall back on. Hence, I am prioritising my business first.
Do you think there will be more younger people becoming an entrepreneur in the future?
Within the Singapore landscape, I do believe that there could be many more younger entrepreneurs entering the industry in the future. Within the Asian context, parents can be sceptical about starting a business at a young age. This might deter them from trying out something new.
However, I hope budding entrepreneurs have a good support system that allows them to soar to greater heights
Could you tell me more about how you manage to get profit when you first started as a reseller?
I believe it is more about understanding your market and ensuring you catch up on different platforms to understand the latest trends. You will also need to understand when the right time is to sell the sneakers to make some profit.
Since you started this by yourself, what steps did you have to take to make this a success?
Since I was passionate about what I was doing, I was able to do some research and understand the market better from inside out. I was also able to get some connections within the resell industry. These factors were able to keep me going and expand my business.
Were there times where you felt like you wanted to give up?
While there were ups and downs throughout my journey, I have always been clear with what I wanted in the future. This allowed me to get more positive outcomes especially since my passion drives me to continue, allowing me to work towards the specific angle I intend to reach.
What are your thoughts of being an entrepreneur?
In my opinion, I believe an entrepreneur is someone who is passionate in starting a business as well as helping to contribute back to the community by making a change. They also believe in problem solving and ensuring their business flourish by rather than prioritising the income spent.
Photo source: Hive Life
What were some advantages and disadvantages of starting out as a young entrepreneur?
Since I started out at a younger age, time was an advantage on my side since I could figure it out along the way. However since I was young, some people did not believe in me as they believed that I needed experience to progress and be successful.
What is one piece of advice you would like to share with aspiring entrepreneurs?
Never give up! There will always be ups and downs throughout this journey, but I believe that you reap what you sow eventually, and it takes time. As you tread on your path, do help out others and remain humble. Making connections along the way will prove useful to you