man_in_pain
New member
Not every industry is created equally. Below are 3 businesses that can be started for under $20,000 that can become million dollar enterprises. Below you will see an explanation of why these businesses are great and creative ideas on how to market them.
Along with each section is a corresponding time stamp for those who would like to watch/listen instead of read or gather more context.
Mobile Mechanic Business 1:00:
This is a service where a trained mechanic repairs personal or commercial vehicles on site. The combination of the convenience of this service and the skill required allows the potential to charge a high hourly rate for simple repairs.
Why We Love the Mobile Mechanic Business:
Why We Love AirBNB Management as a Business 11:00:
Why We Love an Electrical Contractor Business:
Along with each section is a corresponding time stamp for those who would like to watch/listen instead of read or gather more context.
Mobile Mechanic Business 1:00:
This is a service where a trained mechanic repairs personal or commercial vehicles on site. The combination of the convenience of this service and the skill required allows the potential to charge a high hourly rate for simple repairs.
Why We Love the Mobile Mechanic Business:
- The potential for re-occurring commercial clients. I own a moving company and trucks break down. Anyone reliable who charges a fair price would get our business every single time.
- The industry players are extremely unreliable. I have never had a mobile mechanic personally who offered good service for more than 3 visits. Someone who can answer the phone and show up on time will be leaps and bounds better than the competition.
- Even the business' with poor service are charging high rates. This means if a company can come in, be reliable, and know what they're doing it wouldn't be unfeasible to charge $150+/hr per tech per hour plus parts (because charging this much is still cheaper than paying for a tow and dealership rates
- This could be a real estate play. After enough time and building up re-occurring clients a mobile mechanic could eventually purchase a brick and mortar shop for larger jobs.
- Stop by at every moving company, delivery company, freight company you can find and say "Hi", introduce yourself, and drop a business cards. Stop by more than once showing your reliable. This kind of marketing: https://youtu.be/jYwiK6uBsZo
- For commercial clients you could advertise free truck jump-starts for dead batteries. This costs nothing but time and will result in thousands of dollars in repair work due to the trust you build with them.
- Leave air fresheners with your company name and logo in the vehicles that you work on so your name is right in the front of their mind next time work is needed.
Why We Love AirBNB Management as a Business 11:00:
- Very low capital is needed as you don't own any real estate you are just helping ease the burden of rentals in other people's real estate.
- People with multiple properties or space to rent don't generally want to deal with renters.
- Most of your work can be automated. my friend Dan outlined that with his home that he rents out he made a short video on how to get in the building and answers other basic questions. After making this video he get nearly zero messages from renters.
- You can do the cleanings yourself and earn even more money per transaction if you wish to do so.
- In "hot" areas where rentals are netting large amounts for short term rentals seek out home owners who are renting their place to long term renters, tell them how much more they can earn, and how you can do it all for them. It's very low risk for the home owner.
- Search listings of homes for sale or rent, contact the home owner and tell them about the AirBNB rental prospects.
Why We Love an Electrical Contractor Business:
- Electrical contracting is one of the easiest on your body. This service doesn't beat you up nearly as much as a plumper or drywall guy.
- This industry is extremely behind the times. With a little bit of customer service and sales skills it is possible to be leaps and bounds better than the competition.
- The prospects of how large this business can get are nearly endless.