Snkrs Royale by Neil Shetty

Founder: Neil Shetty

School: Year 12 Student At Paramatta High School

Business Name: Snkrs Royale

Tell Us About Your Business?*

Snkrs Royale is my passion project, born from my love for sneakers and entrepreneurship. At just 14, I started reselling limited-edition sneakers, and it quickly grew into a thriving business generating over $200,000 in revenue.

Connecting with over 5,000 customers across platforms like Facebook and eBay has been incredibly rewarding. I’ve built partnerships with top Australian retailers, which has expanded our reach and credibility. Alongside this venture, I’m developing a financial literacy app to help individuals budget effectively and gain essential financial knowledge. I want to empower young people to take control of their finances while enjoying the sneaker culture.

How Did You Come Up With The Business Idea?

The idea for Snkrs Royale came from my passion for sneakers and noticing how difficult it was for enthusiasts to get their hands on limited releases. I saw an opportunity to bridge that gap.

Similarly, the financial literacy app emerged from watching friends struggle with budgeting. I realised I could create a tool that makes financial education accessible and engaging, especially for young people who need it most. As well as with over 20 percents of Australian Children being financial illiterate, and not knowing about an increase in superannuation I knew that this was a venture that should be done to provide younger generations with support.

What Obstacles Have You Faced In Building And Growing Your Business And How Have You Overcome Them?

Building Snkrs Royale hasn’t been possible without challenges. Managing inventory and scaling operations while maintaining quality was daunting. I tackled these by implementing efficient inventory systems such as spreadsheets on excel and focusing on customer service to build trust and long term loyalty.

For the financial app, funding and user acquisition are hurdles and I'm overcoming these through strategic partnerships and grassroots marketing efforts. Each obstacle has taught me resilience and adaptability which are skills that have become essential in my entrepreneurial journey.

Can You Share Any Success Stories Or Moments That Highlight The Positive Influence Of Your Efforts?

One of my proudest moments was my first sale of a limited shoe the magnus walker dunk where I sold this shoe for $800. Some people say this may have been luck but that moment was when I realised anything is possible if you put your mind to it.

Making that first $800 starting with only $200 and scavenging birthday money to do it. Starting this journey, with people telling me I can't do it and I am too young was what brought me to who I am today. The recognition of these efforts and being able to have so much money at a young age drove me to understand if I can do this one time I can do it again and here I am today with a business worth 6 figures.

What Is The Most Important Thing You’ve Learned Through The Next Gen Awards? The Next Gen Awards taught me the power of community and collaboration. Meeting other young entrepreneurs opened my eyes to diverse perspectives and innovative ideas. I've learned that success is often a team effort; sharing experiences can lead to valuable insights and opportunities. This experience has reinforced my belief in continuous learning and the importance of building a supportive network as I navigate my entrepreneurial journey.

What Is Your Long-Term Vision For Your Business? My long-term vision for Snkrs Royale is to become a global platform that not only sells sneakers but also fosters a community of sneaker enthusiasts. I dream of launching our own line of limited-edition sneakers that reflect our brand's identity.

For the financial literacy app, I envision it as the go-to resource for young people seeking financial education. Ultimately, I want both businesses to empower individuals, whether through fashion or finance or to make informed decisions that enhance their lives.

What Future Projects Or Initiatives Do You Have In Mind For Your Business And How Do You Plan To Expand Its Reach And Influence?

Looking ahead, I'm excited about integrating blockchain technology into Snkrs Royale for authenticating sneakers, combating counterfeits effectively. For the financial app, I'm exploring AI-driven features that provide personalised advice based on user behaviour. To expand our reach, I plan to collaborate with influencers in both sneaker culture and finance. Hosting events that combine sneaker drops with financial workshops will create unique experiences that resonate with our audience while promoting financial literacy.

How Do You Plan To Continue Your Journey Of Personal And Professional Development Beyond The Next Gen Awards? Beyond the Next Gen Awards, I’m committed to lifelong learning whether through formal education or self-study in business and technology trends. Networking will remain crucial; I aim to connect with mentors who can guide me as I grow my businesses.

Additionally, I want to give back by mentoring other young entrepreneurs, sharing what I've learned along the way. This journey is about growth not just for myself but for those around me as well. What Advice Would You Give To Other Young Students Who Aspire To Develop Their Own Businesses? To aspiring young entrepreneurs: embrace your passions! Start small but think big, every successful business begins with an idea. Don’t fear failure; it’s often your best teacher. Network as much as you can; relationships are invaluable in business. Stay curious, always seek knowledge about your industry and beyond. Lastly, be authentic; let your values shine through your work. Remember, age doesn’t define your potential your determination does! Believe in yourself and take that leap; you have what it takes! And most importantly if someone says you can't do it don't be angry channel that in and prove them wrong.

Learn more about Neil and support his journey by visiting the link below and connecting with him here.

Neil Shetty participated in our Next Gen Awards 2024 program and was the recipient of the Young Entrepreneur Of The Year award. To find out more about the Next Gen Awards and how your projects and initiatives can be showcased head to: www.nextgenoftheyear.com