Today’s idea is from my friend Ciaran of The Five-Nine Formula. Let’s get into it.
1. Business idea of the Week: Local Food Tour Service
When traveling to new cities, I’m constantly Googling ideas for things to do and places to eat.
But when I visited Miami a few years ago, I came across a combination of the two… a local food tour.
You get to learn about the area from a local tour guide and taste a bunch of different local dishes. What's not to love?Â
The Idea: A local food tour service.
You pick a route, partner with local restaurants, write a script, and then repeat the tours as many times as you’d like throughout the day.Â
How to get started: As mentioned above, the setup is relatively easy and costs almost nothing. Here’s what to do:
Design a route that is easily covered on foot. It should showcase interesting spots for stories, while also stopping at great food spots. For example, the tour in Miami was Calle Ocho in Little Havana - one long street of Cuban heritage and cuisine.
Partner with local restaurants. This is important so you can tell them when you’ll be stopping by and they can prepare the food in advance. This is a win-win relationship. You bring them new customers, and they supply you with a place to stop.
Write a script. You want to have a general idea of the script you’ll use. The script should be honest, entertaining, and informative. Do your research and be prepared to answer questions about what you cover.Â
Start your bookings. Depending on your schedule, you should look at running the tours between the main lunch and dinner rush. Weekends will be busiest and you can run back-to-back tours to maximize your earnings. It’s important to not book too many people on one tour as this will easily get overwhelming for both you and the restaurants.Â
Pricing & Target customers:
Your main customer focus will be tourists but don’t be surprised if many locals join the tours (this is why you need to make sure your script is factual).
Pricing can vary depending on the number of places you stop by and the cost of the food. You will be charging people a price that covers these costs but also leaves enough on the bone for yourself.
A ballpark figure would be $50-$100 per person. For a tour of 10 people twice a day, that can easily add up! Tips are also common.
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2. Links I like.
Don't Cold Email This Person, or They'll Put You on 'The List' - The Follow Up
Open AI's Sales Team, Work From Home Sales Jobs, And GRIT Marketing Sales Reps are Suing - YouTube
3 internet tools to find business ideas - Twitter
3. Business ideas from Twitter
I spent an hour scrolling Twitter trying to find business ideas.
Here’s a few I found. 👇
Lego did roughly $4 billion in revenue last year.
They have a cult following, and a massive customer base.
There would be a lot of issues with this business (like missing Lego pieces), but those can be solved.
If executed correctly, I think this could be a multi-million dollar business.
This would be a lot of fun.
I see so many businesses that I think will make it big or fizzle out and die.
I’d love a place to actually put money behind my prediction.
Although this sounds like it could be complicated to build and figure out.
It’s 2024, and printers still suck…
Can we please get a printer that connects to your computer as easily as Airpods?