Fueling the Fast and the Furious: Street Racing Is Big Business For Sam Chae
At the ripe old age of twenty, Chae owns interests in a variety of businesses under his main company, Chae Corporation.
Street races busted by police, helicopter rides across the city, and exclusive club parties - all while negotiating multi-million dollar deals and running his companies. Listen to Sam Chae talk and you'd think he stepped right out of a movie.
At the ripe old age of twenty, Chae owns interests in a variety of businesses under his main company, Chae Corporation. These businesses range from stakes in Sushi restaurants, real estate developments, franchising restaurants and of course, his flagship company SpeedStash.
SpeedStash sells after market racing products such as car parts, accessories and body kits. It is the second largest company of its kind in the Midwestern United States. Chae says that SpeedStash typically sells $10,000 to $15,000 in products a day. With sales of nearly $900,000 last year, he hopes to top $2 million by the end of their next FISCAL YEAR.
Chae's interest in auto accessories peaked after watching the movie The Fast and The Furious. He walked out of the theater with an idea that eventually became SpeedStash.
While Chae has invested a lot of time and resources into SpeedStash, he is also careful with his cash. "A golden rule in business is not to use your own money even if you have it. I'm trying to use funding from investors and keep as much money as possible. The advantage of being young is that you can get a lot of attention and people are willing to invest in you. It's a lot easier to get money these days," says Chae.
Chae also invested a large chunk of money into a sushi restaurant called Starfish that his aunt started near downtown Chicago. Though he takes a hands-off role in running the business, it is doing very well and has been frequented by a number of celebrities ranging from Macy Gray to Hugh Hefner.
Speaking of celebrities, one surely wouldn't be surprised to find that Chae is a big Donald Trump fan. Much like The Donald himself, Chae thrives on wheeling and dealing. He also has become quite comfortable using the phrase, "You're fired!"
During our photo shoot in Chicago, Chae received a phone call regarding problem employees. They were showing up late or not at all because they didn't respect him. When I spoke with him the following morning, he had already fired nearly half his staff and had begun rehiring.
Lack of respect due to his age is something that Chae battles on a daily basis. Whether it's contractors not believing he owns the company or city officials laughing when he applies for a restaurant liquor license (remember, he's 20), Chae constantly has to find ways around the issue. "I try and send my lawyer in as much as possible. I'd say about 50 percent of the time I try to avoid meeting people face-to-face." One thing Chae finds amazing is the way business has completely changed. No longer does business have to be done face-to-face over 18 holes (though Chae is constantly working to improve his game). As he puts it, "It's really interesting to watch kids do business better and more efficiently than older generations. We do all of our work with our minds and not with our bodies. It's crazy. I can pick up a phone and do more damage and make more money in one phone call than the average person could do in a month. Understand that and you're one step ahead of everyone else. I think right now is the best time to be alive."
As I talked with Chae about what it's like being at this point in his life, he had some interesting thoughts. "Bryan, what people have to understand is that people like you and me, we're outcasts in a way. We're definitely not the majority; we're at the bottom of the barrel. You'll rarely ever meet people like us. Mostly it's in a good way because people like us are going to lead this generation."
So where did this young entrepreneur, self-proclaimed generational leader, former street racer who can't legally buy a beer previously work? McDonalds, Wendy's and Blockbuster.
I couldn't help but ask, "So how would you describe going from a McDonald's employee to owning your own company?"
He responded, "Probably the best feeling in the world."
The next time you spend $7 to catch the latest flick, think of it as an investment. You may walk out inspired by an idea that turns into a million dollar business.






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