Innovative Low-Cost Service Business Ideas

Sep 30, 2024

Lecture Notes: Off-the-Radar Service Business Ideas

Introduction

  • Speaker: Adam Zingler
  • Focus: Unique service business ideas with low competition and startup costs
  • Goals:
    • Help start and scale businesses to potentially $10 million in annual revenue
    • Ideas require basic skills, tools, equipment, and simple marketing strategies

Business Idea #1: Tankless Water Heater Flushing

  • Popularity of Tankless Water Heaters

    • Seen as a better alternative: longer lifespan, less electricity, on-demand hot water
    • Require annual maintenance (flushing every 12 months)
  • Business Model

    • Service higher-end homes and senior citizens
    • Charge: ~$150 per flush
    • Potential Earnings: $600/day, $3,000/week, $144,000/year
  • Market Strategy

    • Door-to-door sales: Flyers, door hangers
    • Google Business Page: Secure top position in Google Maps
      • Obtain consistent 5-star reviews
    • Community Engagement: Nextdoor, Craigslist, Facebook groups
    • Social Media Ads: Facebook, Instagram, TikTok
    • Avoid: Yelp, Angie's List, Home Advisor
  • Additional Resources

    • BuildupUniversity.com: Support and conversation for business growth

Business Idea #2: Annual Home Maintenance Business

  • Home Maintenance Needs

    • Maintenance tasks: gutter cleaning, roof inspections, lawn care, sprinkler checks, chimney sweeps, and more
  • Business Model

    • Monthly Subscription: $199 per customer
    • Potential Earnings: $19,900/month with 100 customers, $238,000/year

Business Idea #3: Portable Sawmill Business

  • Concept

    • Convert trees into lumber on-site
    • High demand from property owners with timber
  • Equipment

    • Portable sawmills: Price range from $3,300 to $90,000
    • Example brand: Woodmizer
  • Pricing Strategy

    • Charge hourly: $65 to $120 per hour (average $90)
    • Potential Earnings: $540/day, $2,700/week, ~$137,000/year

Conclusion

  • Importance of unique, off-the-radar business ideas
  • Encouragement to engage with channel for more ideas
  • Follow-up content and resources available through channel and playlists

  • Consider liking and subscribing to stay updated with more business ideas and strategies.