Today’s read time: 2 minutes and 25 seconds
What’s up party people! We’re back with another side hustle idea!
Before we dive into today’s idea, let’s connect on Twitter!
1. Business idea of the Week: A Door Hanger Advertising Side Hustle
Have you ever seen one of these on your door?
They’re door hangers that local businesses use to advertise to residents in their area.
And there’s a few things that make them great:
Allow you to target the exact audience you want.
Won’t get lost in the mail.
Guarantee that your ad is seen by the targeted audience.
Now that we know they’re a valuable advertising method, how can we use them to make some money?
The idea: Create a door hanger advertising service.
This service would help local businesses create and distribute door hangers to any neighborhood of their choice.
From design → to printing the door hangers → to hanging them on the doors.
This service will do it all, and charge a premium.
How to get started:
You can use your own service to attract your first clients.
Use a service like Vista Print to print out door hangers with your service and contact info on them, and hang them off the doors of local businesses in your area.
You can also use platforms like Facebook and Craigslist to get your service in front of local businesses.
Next, you’ll need to set up your pricing structure.
Let’s assume you can print door hangers for 25 cents a piece.
And let’s also assume that you can hang 100 signs/hour and charge a business $2/sign with a 500 signs minimum.
Revenue = $1,000
Cost of goods = ($250)
Profit = $750
Not bad for 5 hours of work….
And once you have more orders than you can fulfill, you can hire people to drop off the door hangers.
And that’s how this turns into a six-figure side hustle…
2. Things I’m Reading.
The Sales Playbook That Took Salesforce from $25M → $25 billion - The Follow Up
The Sweaty Startup - Nick Huber
Enhanced Games: Sports Events without Drug Testing - The Guardian
How to Raise $200M With Fake Users
We’ve got some big news this week from the world of Startups.
News broke that the IRL (in real life) social media app will be closing its doors due to over 95% of its users being fake bots.
Now, this normally wouldn’t mean anything and would likely be swept under the rug.
Except for the fact that they raised over $200M from VCs based on their report of having over 20 million monthly active users.
So what’s next?
IRL’s CEO was ousted.
The company will shut down.
Whatever money is left will be distributed to shareholders.
The SEC will likely step in and investigate the situation.
But I want to know your thoughts.
Do you think the CEO deserves jail time for misleading investors with fake users?
And that’s a wrap!