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Sarah Davis

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A chance encounter at a shopping mall in 1999 set Sarah Davis on the path to becoming an entrepreneur and starting her own online resale business. Taking on plenty of debt while she attended law school and her husband went to medical school, Davis met a woman buying discounted blankets to sell them on eBay. Taking that as her own cue, she quickly started selling any of her possessions she could spare online, from wedding gifts to her used handbags.

With a deep-seated passion for both fashion and finding a bargain, she gravitated towards luxury handbags. Davis tuned into the desire for owners of these bags to recoup the investment of an expensive handbag, the resale value these bags carry, and the difficulty to find these bags at bargain prices. She saw she could purchase used or discounted bags, sell them for a profit and put the profit into buying more bags.

At first Davis began buying bags at discounted prices and selling them on eBay, but then she gradually became a trusted hub for buying and selling used luxury handbags. Despite passing her BAR exam and being able to start practicing law, she chose to pursue her new business instead, which earned her more than enough to pay off her student loans.

Davis officially started FashionPhile in 2006, made $600,000 in total sales in that year. Three years later, the company had grown to more than $4 million in sales. Despite the growth and having three physical boutiques in California, the company remains family-owned and operated company, with even Davis’ husband and four young children have been involved in the business.

Companies and Investments

Fashionphile (Founder)

Lessons Learned

It’s good to recognize your weaknesses and find smart people to fill in your gaps. I had no business training. An accountant asked what my five-year plan was. I had no plan.

Put up your own website, but get on other platforms and let them drive people to your site… millions of people go to those sites every day.

We didn’t do it overnight. Fashionphile grew year by year, and every year I reinvested in my business. You can really build your business up to an amazing level by starting small and building slowly.

Inspiring Quotes

Sarah Davis's Quotes

Developing an online business was good for a student and a mom. By the time Id passed the bar, my law school loans were paid off but I had no desire to practice law.

Sarah Davis

Influential Books

Michael E. Gerber - The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It

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References


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