🧠A Laundry Subscription Side Hustle
How to become a crypto wiz, and the Planet Fitness business model
Welcome to 3 ideas of Sunday.
Where we serve up a new business idea every week, in 5 minutes or less.
1. Business idea of the Week: Laundry Subscription Service
Looking for a side hustle with recurring revenue, low overhead, and almost $0 in start up costs?
Look no further.
Everyone knows that doing laundry kinda sucks… but it’s one of those chores you’ve gotta get done.
In the US, it’s estimated over 660 million loads of laundry are done every week.
Or 35 billion loads every year.
So let’s create a service that can help people with this chore.
The idea: Create a done-for-you laundry subscription service.
Here’s how this will work:
You sell a subscription service to a customer → pick up their laundry → wash their laundry → drop off the clean folded laundry.
The great thing about this service is that you don’t need to buy any of your own machines.
If you have a washer and dryer at your house you can use it, or simply use the machines at a laundromat.
Do services like this already exist? Absolutely. But that means we can take some plays out of their playbook.
Like this drop-off wash and fold service.
Since we’ll be picking up and dropping off the laundry, we can charge a premium price.
Let’s say we charge $100/week to do 1 family’s laundry. Thats $400/month of recurring revenue.
Which means we’ll only need 25 customers to reach $10K/ month. Not bad, right?
And once you get a few recurring customers, you can hire contractors to do the actual service, while you focus on growing the business.
So how can we get our customers?
Like most local businesses, you can use facebook, Craigslist, yard signs, and flyers.
Since this is a premium service, you will want to focus on more affluent area’s that can afford a $400/month service.
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3. The Planet Fitness Business Model
Do you ever wonder how Planet Fitness can charge $10-$20/month, while other gyms start at $50+/month.
There’s one simple idea that allows them to do this.
Planet Fitness doesn’t want people to show up.
Thats right…
Most Planet Fitness locations can only fit 300 people at their max capacity, while a typical location has 6,500+ members.
Let’s assume the average member pays $15/month with an average of 6.5K members.
That’s $97,500/month or over $1M/year in revenue.
But this only works because most members won’t actually show up to work out.
In fact, they have to assume that less than 5% of their members will show up at any given time.
Are there any other businesses that operate like this?
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