7 Figures in 7 Months: How 4 Entrepreneurs are Thriving During the COVID-19 Recession.
Project WiFi was founded in September of 2019 by Mohammed Shakaoat, Andy Kong, Paul Parker, and Marcello Cantu. The 4 entrepreneurs set out on a mission to provide a beneficial and more reliable investment opportunity for individuals looking to take advantage of the ever-growing industry of E-Commerce. By the end of Quarter 1 in 2020, the start-up has scaled to 7 Figures and currently employs over 50 individuals both here in the United States and at their office overseas. The company is projected to manage over $19 Million in combined assets by the end of 2020. The team stated, “The idea came to us when we started gaining a lot of attention on social media from posting our personal results. People started asking questions when we started selling over $100,000 per month on Amazon. From there, we realized we could expand our total sales reach and make this an extremely profitable company. We all had experience selling on Amazon, but as individuals, we had unique skill sets as well, the team ended up being a perfect fit.”
Who is this business for?
Our Automation service is a great opportunity for anyone looking to expand their passive income portfolio. Amazon only allows one seller account per person, so what we do is partner with you, open the store in your name, scale and manage the business 100% for you and split the profits. It is completely hands-off for the investors. Since we maximized our individual stores,
opening stores under investors allows us to increase our total sales reach on Amazon and build a passive income business for them. We handle everything from product research to customer service to fulfilling orders.
How much money is needed to front the products?
We use the dropshipping business model, therefore we do not purchase any inventory upfront. We don’t touch or see any of the products at any time. We only fulfill an order once a customer purchases a product from us, from there we forward the order to our supplier and they ship it directly to the customer on our behalf. Because Amazon pays out every two weeks, we leverage credit lines to float the products until Amazon releases the funds. Leveraging credit allows us to earn massive amounts of cashback points that can be used for travel and purchases.
Is COVID-19 affecting your business?
We work entirely online from our homes and offices. We have actually experienced an increase in volume for a lot of the products we sell, our stores are doing better than ever. People are at home and often scared to leave the house. They rely on 3rd party sellers like us on Amazon to deliver the daily household items they need.
What are you guys planning for the future?
We are looking to expand our team here in the United States and move to a bigger office in Los Angeles. We also have big plans for the future of Project Wifi as a whole. E-Commerce is
always changing and evolving, as a company, we have to as well. Otherwise, we are going to be left in the dust.
Where can we get more info about Project Wifi?
You can get more information about our services on our website, projectwifi.io. You can also keep up to date with us by following us on Instagram, @projectwifi, @moe.capital, @andyvonde, @ecomcello and @pauiparker.