Gold Coast student Sam Richards sells glassware company Bellaforte

Gold Coast teenager Sam Richards might still be at school, but he’s also a “tough negotiator” who just sold the business he started two years ago in a million-dollar deal.

MEET the teenage tycoon who has become an instant millionaire after selling his first business for a seven-figure sum.

Sam Richards, a 15-year-old Gold Coast entrepreneur, is the envy of his schoolmates after banking $1 million for the sale of his recycled plastic fancy glassware company Bellaforte which he launched two years ago on e-commerce giant Amazon Marketplace.

The young go-getter started the venture at just 13 literally by accident after dropping a tray of drinks he was carrying to his parents at their backyard pool, smashing everything.

He says he scoured the internet for crystal-like plastic replacements but couldn’t find anything nice, and hit upon the idea of starting his own business.

Sam Richards sold his Bellaforte business to UNA Brands. Picture: Dan Peled

Guided by his father Phil – an accountant and successful entrepreneur – Sam pitched his concept to 2000 investors at an Amazon conference and raised $15,000 to found Bellaforte.

He travelled to China to source a manufacturer and the online business soon took off.

“We started off doing $15,000 in sales a month and our best month has been $180,000,” he said.

“Dad has been a big influence but I love business and economics myself and it was my idea to start Bellaforte. It’s been really cool.”

A Year 10 student at the Queensland Academy of Health Sciences, Sam said he only had to devote a few hours a week to the business because Amazon did all the ‘grunt’ work, including shipping and customer service.

“Amazon is like a 21st century lemonade stand except you get to sell to the whole world and you don’t even have to attend to the stand,” he said.

Sam with his parents Phil and Michelle. Picture: Dan Peled

Sam said he decided to sell Bellaforte so he could focus on senior high and take the brand to the ‘next level’ by getting its products into hotels around the world.

He struck a deal to sell to e-commerce start-up Una Brands but will stay on as a consultant for two years.

“He was a tough negotiator. I have dealt with hundreds of business owners but Sam drove a hard bargain,” said Yenti Kushor, head of acquisitions at Una Brands.

“He was driven and he knew what he wanted. It was evident that he did his research and had the numbers to back it up. He didn’t give up until we met his number.

“I was an entrepreneur at 15 but I definitely wasn’t as impressive as Sam. He’s a real inspiration and we see huge growth potential in Bellaforte.”

Sam said he had used part of his windfall to buy a new smart watch, headphones, and tech company shares.

He also has his eyes on a shiny Tesla when he gets his driver’s licence.