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Sponsor Voice
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Andrew
This episode of the personal finance podcast 5 side Hustles that Could Turn into a Full time Business what's up everybody and welcome to the Personal Finance Podcast. I'm your host Andrew, founder of MasterMoney Co and today on the Personal Finance Podcast we're going to talk about five side hustles that could turn into a full time business. If you guys have any questions, make sure you join the Master Money newsletter by going to MasterMoney Co newsletter and follow us on Spotify, Apple Podcasts, YouTube or whatever your favorite podcast player is. And if you want to help out the show consider leaving a five star rating and review on Apple Podcasts, Spotify or your favorite podcast player. Now today these are one of my favorite episodes to do and we have done a couple of them in the past where we've done nine side hustles and seven side hustles that can turn into a full time business. But we're going to turn this into a series because you guys absolutely love these episodes. And so each time I am going to do five side Hustles that could turn into a full time business for each of these episodes and we're going to turn this into a series that we do a little more frequently. I love talking about this. I own multiple businesses and so what we're going to do with each of these episodes is I'm going to show you a how I would start it and some of the startup costs I would think through on some of these side hustles, how I would try to scale it and how I would turn it into my full time income at some point in time, if you wanted to. So the goal with side hustles for us is always, always, always to make sure that, you know, we're not talking about driving for Uber, we're not talking about doing doordash. We're talking about starting something that could build into a cash flow machine for you and your family. And if you want that financial freedom, if you want to chase or pursue entrepreneurship, and you want to do something that you love, we're going to talk through each and every single one of these. Now, the goal with these episodes is not an end all, be all. This is what you need to do. These are just throwing out ideas and generating ideas. And so once I generate these ideas, I love thinking through, well, how would I build this business out and how would I think about this and create processes that allow me to spend less time inside of this business? And so this is going to be something for a lot of you that I think is going to be really, really fun. Because most of the time when we do these episodes, we get tons of feedback on them. People ask for more and more and more and. And so we will do them more frequently as time goes on here. So I have five really fun ideas for this episode. So without further ado, let's get into it. All right, so number one is an indoor golf simulator business. Now, this is something I think that you can actually start for pretty low cost and it is something that is pretty doable. So I'm going to explain how I would set this up and some of the things that I would think through. So first we're going to do the MVP setup. So the minimum viable product setup is how I want you to think about this. On how to start, you can launch really lean, I think. I don't think you have to spend a lot of money when you do this. You can validate demand and see if the demand is actually there. And then you can start to build recurring revenue quickly. Now, there's a very specific way that I would do this. When I started to build these out, I would not make them big whatsoever. Instead, I would find small spaces somewhere between 1200 square feet to 2000 square feet that would allow you to put in two, maybe at max, three golf simulators inside of some of these places. And they obviously have to have 10 foot high ceilings at a minimum. So the best places to look for would be something like a garage Or a small warehouse or retail shell, something along those lines that would actually fit the space. For example, the podcast studio that I'm recording in currently right now would actually be a perfect space. This is a 1200 square foot space. The ceilings are about 15ft high. And really it's not that expensive to rent out a space like this. And so depending on where you live, you can find spaces that work really, really well. Now, folks who are listening to me right now, who live up north, you know, the golf season for people up north is a much smaller window than for folks who are down south. I'm in Florida. This is one of the golf capitals of the country. There are people who can golf pretty much every single day year round. There is not a day of the year that you really can't golf. We don't ever really, in Tampa, where I live, get below 32 degrees. And so for us you can golf year round. So it may be less of a demand for someone in those southern areas, but it might be a much more of a demand in the northern areas. Now, would I go to a golf simulator place? Sure, I would be happy to go to a golf simulator place, especially during the summer when it is extremely hot here in Florida. So I still think you can make it another place basis, especially the way that we're going to structure this and how we are going to do this. So what I would do is I would first just start with two really high quality, you know, mid tier simulators. And you can use things like Skytrack, you could use a bunch of other things that will kind of help you build these out. But here's some of the things that you need for those simulators because you can set them up for right around, from my research, about $7,000 each. And if you want to go a little bit higher end, you can go set them up for 15,000 each. But you would need the turf, you would need nets, and you would need screens is the first part of it. You need, you know, the proper lighting to make sure you have that lighting set up correctly. If you want lounge seating and TVs for people who are waiting in between, you can also have that available. Because we're going to make this a private club. This is going to be a club that is going to be only available to a certain amount of memberships, which we'll talk about in a second. You'll need the software and making sure you have that software and then digital keyless entry and a camera system. So this is the portion of, of the build out that might be a little more expensive. So I have two mini pickleball facilities in Atlanta. So we have larger pickleball facilities across the country. But I have two mini concepts that we are testing out in Atlanta. So if anybody out there is interested, you live in the Atlanta area. We own Smyrna Pickleball Academy and Peachtree Pickleball Academy. These are little two court pickleball academies. And they're just court rentals that you can go and rent these courts. And they have keyless entry for you to be able to access and get in to those specific locations. Now in those locations, a lot of stuff that we're going to be doing are like leagues and tournaments, those types of things. And so I think you can follow something similar with this golf simulator business. Now I know how much these keyless entries cost. They could be anywhere from 3,500 to about $7,000 in a complex like this. And the way that it works is you book your time, then it sends you a message or an email with the passcode. That passcode expires after every single use and it will kind of reissue those passcodes automatically. So that's how the keyless entry works. And then you just put in a camera system. Obviously camera systems aren't that expensive. You could hire someone to put it in, or if you are tech savvy, you could put it in. And so having both of those available would be really, really cool. Now, membership pricing, because this is going to be a private, membership structured business, this is the way I would think about this. This is not a walk in business because you would always have to be constantly acquiring customers. Instead, I would structure this as a membership. And at the beginning, for the first members, I would make it $100 per month. $100 per month, depending on where you are located, will allow you to become very profitable from the beginning. So in my area, for example, I could rent out 1200-2000 square feet for about a dollar per square foot per month. In your area might be $2 per square foot per month. And you can adjust these numbers slightly based on what you're looking at there. And so when we look at this membership pricing, I would have $100 a month for 24, 7. Keep up access. And then I would just have a reservation system online where you can reserve your slots into. Those slots will be available. Now you can use a bunch of different booking systems. You can use calendly, you can use a stripe integration, you can use acuity scheduling. There's a bunch of different booking systems out there that can help you do this process that will allow you to create those booking systems. So here's the core strategy is you're not selling golf practice. This is not something where you are going to have, you know, people doing lessons in there. Instead, I would, you know, be selling this as a private way to access, you know, almost like a tech driven man cave or tech driven place where folks can go to spend time, kind of get away and be able to hang out with other members if they want to. And so this is something that I would have that scarcity model in place where I would cap it at 100 members. I would have 24. 7 access. So that 24. 7 access you could have. You know, it's self serve, it's secure, there's low overhead, but high perceived value. Meaning there's, you can go there at any point in time and go work on your game and, or just spend time with friends in there if you want to. Now you can have a different couple of different vibes here. You can have a fun, bright vibe. You can make it feel like a golf speak. Easy. There's a bunch of cool things that you could do there. But just having some extra comfy seating, some Bluetooth speakers, listen, I found just really comfortable couches, for example, on Walmart that were on sale recently. Brand new couches for 150 on Walmart.com I mean, you could find some really cool stuff and you don't have to do this in an expensive way. And so I think there's a lot of cool things that you can really do to set that up. Now let's talk about the growth plan here. So first of all, since there's only 100 members allowed, here's what I would budget to do. This is I would start to run Facebook ads to folks who have golf interests. And I would spend somewhere between 10 to 25,000 on Facebook ads. Now, if you don't have a lot of money starting off and you know, people in the golf industry, you can do this by word of mouth and you can hit the boots on the ground running and try to, you know, speak to people who, you know, may be interested in this, maybe give them a deal for the first couple of days or the first couple of months. But if you have more cash on hand, I would spend a good amount of money on Facebook ads to try to acquire new members. Again, this is why the cap is important, because you only need 100 members to be able to make this work. And so in your area, I would Try to get those hundred members allowed and say, you know, your city's first private golf simulator club. So if you are in Cincinnati, Cincinnati's private golf simulator Club, or if you are in Minneapolis, Minneapolis Golf Simulator Club, or if you're in, you know, Naples, Florida, Naples Golf Simulator Club. And I would target people who like golf country clubs topgolf those types of things. And so going in there and trying to have this structure set up. And then I would have a funnel ad so that they let land on this landing page. You set up the website, they give either a deposit to be on the wait list and or you make it to where there's a scarcity mindset, only 100 people will be allowed in. If you want to join the wait list, join it right here. And I really do kind of like the speakeasy idea because it makes it feel exclusive and it makes it feel like something that they really need to have in place. And then you want to build urgency. So giving founding member status, only 17 spots left or etc, where you're having this kind of set up in a way that really creates urgency for people to sign up. Now, one other thing you could do is you could host a VIP preview weekend where people can kind of come and tour the space before it opens. That could be another option for you. And then you can sell them to package this and put this together. So once you have these folks in place, that's the goal, is to try to get people in first. Trying to find 100 people who want to pay you $100 per month, that is the big goal. I think Facebook ads is the best way to start doing that. That will help you kind of get that ball rolling. And if you spend right around 15 to $25,000, that can help you through that process. Now, charging $100 per month is going to mean that you have $10,000 per month of revenue coming in. And so when you have $10,000 of revenue per month coming in, you can start to add some tiered pricing. Maybe it's $100 a month for solo. If you have a family plan because they're renting the same amount of bays anyway, it's $150 per month. Or maybe you can structure some other things that will matter there. Now you can also have member events, maybe monthly where they pay extra for these member events. You can have monthly tourneys contest or bring a friend days where they can come in, they can bring a friend and be able to do some extra events. And those would be added perks. Maybe for members, but if you bring more people in, they would each specifically pay to be involved in that. So you can do some cool events that would be fun, add some energy to the. The whole entire thing if you wanted to. And so as you start to think about this, while you're saying to yourself, well, what are the expenses? Well, really, your big expenses are your monthly rent, whatever software costs that you have, any maintenance on the equipment and the items that you have within the simulator facility. And then outside of that, it would be having someone come in and clean, you know, every couple of days. So maybe every two or three days, you have someone clean the facility. Having it smaller makes it much, much easier because that's going to be, let's just say, $200 every single week where you have somebody come in. So if your rent is. Let's just. For an example, let's just say Your rent is $2,000 for some of these smaller spaces. And then you have somebody come in and start cleaning for about 800. And then you just do another thousand dollars worth of maintenance every single month. That's $12,000 worth year. I think that's more than enough. Then when you have that in place, you're thinking through right now, well, hey, I'm spending about 3,800 bucks a month on this. And so you have a $6,200 profit in one location. Okay. Now that's without adding different things. I mean, you could start to sell, you know, clothing or T shirts in there. You have a little merch corner for founding members. You could start to sell vending machines and add other revenue sources that are inside of that facility. But that's how I would initially think about it now when we start to expand. So you have this one location, let's just say call it even, six grand a month that you're making. If you're making this even six grand per month every single month in net profit, then what you can do is start to look at, well, do I want to expand? Because getting to two locations will probably fund most of your lifestyle. One location may fund some of your lifestyles, and then two locations will definitely fund most of your lifestyle. So you can look for a second location in another part of town, and you can start to slowly raise rates. So the initial members, they were $100 per month. You're just trying to get them in. You're starting to get that first $10,000 within per month and get that ARR going. They have to sign for an entire year, and then you're going to raise rates for these new locations. So new locations may be 125 to 150. And you can start things like corporate memberships or partnerships with real estate agents or partnerships with private clubs that are going to allow you to kind of build out some of these second and third locations. Because as you start to scale some of these locations, I think they are going to be fairly easy to run in comparison to what the cash flow will be. And so this is why I love a business like this more so than some other things. Because if you can start to cash flow some of these, you can start to sell some of them if you want to, or you can hang on to them and let them cash flow. So here's some other monetization levers is obviously the merch that we talked about. You can partner with private golf pros and they can start to rent simulator time to help people with their golf game. You can start to offer some limited one off events like bachelor parties or company events. That's going to be another 200 to 500 that you can make off those specific events. And you can upsell like data analysis packages so you could do swing breakdown videos where maybe someone is getting a video of their swing in your facility. And then you have coaches breaking that down, you know, online and being able to tell them, you know, hey, this is what's going on here and having people help you. So key tools and resources. Again, you need to understand Facebook ads. Booking access is going to be really important. We use key with our facilities, but there's SmartEntry, IO. I think is one another one, there's Nexus, a bunch of different one. You also want to have email and text CRM. You know, you can use ConvertKit or Podium or Mailchimp, all those and then making sure you're set up in an llc, all that kind of stuff. And so you have options here because if you start to scale these things and you have a couple of them, maybe 2, 3, 4, you can start to either sell. If you don't want to run them anymore, you could sell them. Or if you want to keep them, you can replace your income and your lifestyle and have cash flow coming in with something like this. So this is how I would structure the first one and this is how I would think through the first one. I probably went a little too long on this one, but the indoor golf simulator one I think is a really, really fun business and it's similar to some of the other businesses that I run. And so it's an easy one for me to kind of talk through. I could go for days on that one. But if you're interested in that one or any of these, I really would love to hear your thoughts on some of these. Leave a comment down below on YouTube or on Spotify and let me know if you're interested in any of these as we go through them. So that's the first one. Let's get into the second one. All right. The next one that we're going to be talking through is an idea for a need that I actually currently have right now, and it is to set up an AI agent agency. So if you are new to AI or artificial intelligence, there is a massive wave and a massive influx and a massive opportunity right in front of all of us right now of something called AI agents. And what AI agents are is you can personalize specific AI agents to help you with different things. Maybe you personalize an AI agent to help you with studying, or maybe you personalize one to help you with customer service within your business, or you have one personalized to help you with generating ideas, or you have one personalized to help you write code. There's a bunch of different ways that you can utilize AI agents. And they are very powerful in some of the things that they can do. In fact, some AI agents are able to even accept phone calls. They can actually answer those phone calls. And there's some really, really cool advanced things that happen. But the thing about AI agents is it's so new and it's something that not everyone understands how to do. And this is something where I'm looking for someone right now. So if you know anybody out there, please reach out to me, shoot me an email. But I'm looking for somebody out there to help me build an AI agent. And so this is something that I think there can be an AI agent agency that helps personalize and build custom AI agents. And so this can help people with sales, it can help people with support, they can help people with admins, social media writing, training bots, and they could do a lot of different integrations. So you can use this for Slack bots or Discord bots, or you can do website embeds that help other people. And then you can also charge for ongoing monthly support or hosting, which is recurring revenue. So you set it up once you're getting paid a lump sum to set up these AI agents. And then you could also have this online or monthly recurring revenue. So what tools would I use to do this? Well, first I would look at ChatGPT or GPT Builder. You can also use custom GPT AI or bot press or Voice Flow or LangChain and Then Zapier or Make.com for automation integration and then Webflow or Framer for basic site embeds. Those are all the ones that I would kind of think through. So the key here though is I would specialize in different niches and so I would go and market to specific industries. Say something like real estate agents for example. If you want to create AI agents for real estate agents, you can create a real estate agent assistant. That's going to help them with a number of different things. Help them negotiate contracts, it's going to help them write emails, it's going to help them with marketing plans, it's going to help them with all these different things that they could utilize in their day to day business. Or maybe it's a Shopify store support and you are looking for people who own Shopify stores out there and you want to help them integrate AI within their support channels. Or maybe it's an assistant for accounting firms and it helps accounting firms go through their workflow structures and you know, help them through that process. Or maybe it is a customer service banking AI agent or it's a customer service. You can niche these down further and further and further as you go through time. Maybe you create an AI agent for website development agencies, or maybe you create an AI agent for grocery store chains, or maybe you do it for dentists or doctors or lawyers. There are so many different opportunities where you can look at different niches and be able to help people through some of these processes. Now you're not just building bots, you're helping give people a digital team member is the way I would position this. And so you can focus on specific outcomes. So this agent books leads, this one handles support, this one saves you 10 hours per week and helps you with your productivity. So what you're selling is the value of time and that gives you the edge over other competitors as you are giving people their time back. And that's the number one asset for business owners of what they want is they want their time back. And so that's a big, big thing that you can position here as you go through this. And so you can also say, hey, I'm the AI integrator for your average business owner. So here's what I would do is first I would do some case studies. So I would build agents for free or cheap for local business owners and online creators and I would record the before and after results with those folks. So if you do it for cheap. You can get before and afters pretty quickly and easily. And you can look at the save time, the book leads, the reduced emails, whatever your agents do. And then I would use this as a portfolio and also utilize the testimonials to show what you are capable of. Then phase two I would start to monetize this. So I would start to think through, well here's one time setup fees where you get charged anywhere from 500 to $2,500 depending on the complexity. And you can offer monthly hosting support pack so between 100 to $500 per month in recurring revenue. So you got the setup fees up front, then you got the recurring revenue in the back end. And you can also create something like a five day AI launch service for busy pros where they can get a working agent in under a week. That's a big thing for me. Like I'm thinking through, well I would love to have a working agent right now in under a week because I don't want to spend a ton of time doing this. And if I could do that, that'd be absolutely amazing. Now phase three is once you start to make some money, I would start to run Facebook and Instagram ads on some of the things that you can do targeting either creators or real estate agents or creators or if you are niching down to say dentists or doctors or lawyers, you can actually run those for those specific folks. And you can create an AI agency with calendly plus demo videos online that will help you kind of, you know, they click the Facebook ad and they click and have a call with you, they book a call with you and then you show them what you can actually do. And you can also offer white labeled products where they're labeled for their actual business. You can actually charge a lot more for for white label products, products and then build recurring packages as well. So you could do three custom agents per quarter plus ongoing support for a thousand dollars a month or something like that where you can really have some recurring revenue coming in and you can start to hire out staff that can help you build these agents out for those recurring customers. I think that's a really cool way to do this. So here's the monetization levers that I want you to think through. You can do one off builds which would be about a thousand to $2,000 per AI agent. You can do ongoing support which would be about $200 per month, month per bot. You could do courses and templates where hey build your own AI agents. You can do kits for 49 to 149 if you want to sell additional things online. And you could do upsells, you know, Google sheets training or data trading or website installs. All those different things can be upsold for your monetization levers and you can have some of those key tools there. So custom builds. Let's say for example, you do two custom builds per month. At $2,000 a month, that's $4,000 in monthly revenue. Plus if you have 10 clients that you've already serviced and you have $250 a month in support plans, that's $2,500 per month. And then product templates. Let's say you sell $99 product templates and you sell 25 of a month, that's $2,475 per month, which gets your total monthly revenue potential to about $9000. I think this is definitely scalable to 250000 a year solo or a million dollars a year with the team. That's where I think you could really land with this, this. And so I think it's a really profitable opportunity and you can go way beyond that too if you become really good at it. But I think it's a very profitable opportunity for most people. All right, so that is the AI agent agency. Let's get to the next one. Are you trying to make progress with your finances? I've been there. Overdraft fees, missed payments and wishing I had better tools. 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Chime Voice
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Chime Voice
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Metro Voice
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Andrew
All right, the next one is niche Standard Operating procedures packs. So SOPs are one of the most important things within a business. If you've ever read the book Traction, which is behind me, if you're watching on YouTube right here on this shelf, or if you've ever read the book the E Myth Standard operating procedures are so incredibly important in a business. It ensures that everybody is operating in the same way, shape or form. If you've ever worked anywhere in your life, most likely that business has some standard operating procedures in some shape or form. McDonald's is famous for this. Every burger, every fry, every single thing that they make is all made the same exact way. And if you've ever seen how, you know, Ray Kroc developed this over time, this is how where it really began was these processes and these standard operating procedures were all exactly the same. And they do this the same way. Well, a Lot of people have trouble when they start their business developing standard operating procedures. They think it's just a difficult thing to do and, or they just don't know what to do. And you can create something like SOP packs for small businesses. Now again, when you do this, I would niche down. So I would niche down to something like salons or cleaning businesses or gyms where you can help them with developing plans for, let's say salons, for example, for independent stylists or for front desk operations or how they should handle bookings or how they should handle each and every single customer as they walk into the building. You can start to develop that for them. Or cleaning businesses on how tech should operate or how they should schedule routes or client onboarding or even for gyms, for class scheduling or training, onboarding or customer service. There's so many various ways that you can go, but why these? Because you want to find businesses that need to run on repeatable tasks. Restaurants are the same way really most businesses should, but you want to find those that have a lot of repeatable tasks that owners are most likely going to be frustrated and they're most likely going to be frustrated with the way that the staff is running. And if they have high turnover, they're going to need to do a lot of onboarding. So high turnover means you have to have really bulletproof SOPs. And so those are the businesses that I would target. So that's the first thing I would do is kind of think through that. Now what I would do is try to create a 3 SOP core pack for each of maybe the niches that you're looking at. So examples for a salon would be new stylist onboarding, sop, a front desk customer script sop and then the end of day closing duties. SOP I think is all, all three of those are going to be really, really important for most people. Now each SOP needs to include step by step instructions and you can make it editable in like a Google Doc or a Notion version. And then you can, you can even do a bonus of like a training video or like all of our SOPs, we do loom walkthroughs. We use loom to screen record and then we do walkthroughs with those SOPs. When you are doing this, your core strategy and your positioning here is you are not just selling SOPs, you are giving peace of mind, turnkey training and helping them build a more sellable business. You don't just run your business, you systematize it to grow or step away. And so they don't have to spend so much time in their business, they are going to get their time back because these sops and processes are in place. And so there's a lot of things you can do, you can do done for you, systems you can do, new hire docs you can put into place. Build a business that runs without you. There's a lot of cool things that you can do and that's the way that you want to sell it. And so phase one, my growth plan for this is I would build and validate. So I would build a full three SOP pack for one specific niche and I would sell it for $49 to $149 somewhere in that range. And I would DM a bunch of different salon owners in Facebook groups or local networks to try to see if I can get a hold of them and then offer early access in exchange for testimonials. So that's how I would structure it the first way. Then the price is going to go up once you have those first couple of customers. So then I would productize and launch. So I'd create a different store for each. Maybe you can use gumroad, you can use a stand store, but I would create a different one for each niche. And I would offer those SOP packs, you know, three for 99, six for $199. And you can use Facebook, YouTube, Instagram ads to be able to try to target some of these business owners. Because you want to do this nationwide. This is your goal is this is a scalable product. It's a low cost product product, but it's scalable nationwide and you can work on this online. And so I think it's a really important thing. You want to work on it locally first talk to local owners, you want to go walk through their processes, then you want to scale it online for these specific niches. That's what I think is the most powerful and important part. And you can even add an affiliate program for industry coaches or consultants. So like let's say for example, that you are creating SOPs for estheticians. Okay, My sister owns a business, she's an esthetician and she owns a business where they have to do facials and those types of things. Things. So let's say you are creating that for someone in that industry. If you can find influencers who will help you kind of scale with this, you can create an affiliate program where they can, you know, get 50% of the profits or however else you want to structure that and then you go out and you can start to scale it with other salon owners out there. I think it's really, really powerful to be able to do that. Now there's some other things that you can do upsells so you can launch packs for new niches like real estate, car dealerships, dentists. You can sort of expand this out. It doesn't have to be with just one in niche. If it starts to work, you can start to expand it out more and then you can offer annual SOP packs. So SOP Vault, for example, where they get all the SOP packs on a yearly basis for 400 per year or something like that. And you can also upsell one on one customization where I would charge about a thousand dollars, $997 somewhere in that range for a one on one consultation where you customize it to their business. And then I would license it to other creators or consultants who serve these industries. You could do licensing deals with those creators if they don't want to do a commission basis where they can start to make money with your SOP package too. And so all the monetization levers, I would do a three pack for 99 to $149. I would do the Vault, where they get all the packs for 400 a year, custom service for $997 per year. And then you can do affiliate deals at 30 to 50% commissions. And then you can build and sell some of those templates alongside those SOP. So if you sold 50 of the SOP packs per month, on average of $129, it'd be about $6,450 of revenue. If you did three customizations per month, that'd be about $2,991 per revenue of revenue. If you did, you know, nine, 97 each. And then the custom SOP vault, if you could get 10 people to sign up for that, for the custom SOP vault, that'd be another 3,990 of revenue per month. So there's a lot of things that you can do there. That's 13k a month of what I just listed. And you could probably do about $150,000 per year if you got this rolling as a solo business. And so. So I think it's a super, super interesting business. I think a lot of people should look into that. If you are really good at systems and processes. If you are type A, I love this business. For a lot of people it's a problem. A lot of business owners like me have where you have to create SOPs, I had to do all my own. It takes a lot of time and a lot of energy. So that's my third one. Let's jump into number four. All right. Number four is one that I probably personally wouldn't do just because I'm not super, super interested in it. But I think it's also a good opportunity for some people. I know some who has done this in the past and they made pretty good money doing it. And it's a crypto mining service setup. So if you are into crypto, into crypto mining and you understand how it all works, you could start a service that helps other people set this up so they can also start mining as well. And so how I would do this or how I would think about this is you are trying to sell the technical confidence and passive cash flow creation for beginners who want in but don't know how to set this up themselves. And so I would start with the DIY crowd. So you may hear people talk about mining on TikTok or YouTube and they want to try it. Or you may hear about small time miners who want plug and play rigs and not just like industrial farms. And so you can start to offer different things. You can offer an initial consult for 99 to $199 where you recommend gear, or you give them an ROI calculator and you can do a site check. Those are a couple of things that you can do. You could do build and setup where you source parts, you build the rig and you install mining operating systems systems. And you can charge anywhere from 500 to $1,500 to do that. You can do a remote setup where you guide them via zoom on how to install it remotely for 300 to 500 and then ongoing support at 99amonth. I love the ongoing support with these businesses on how you can actually get some recurring revenue going because I think it's really, really helpful for some people. You can do in person installs for more and you can also do it virtually so you can do it both ways. And so the way I position is, hey, start mining in seven days with no tech skills needed or we'll build your rig and show you how to profit. Or there's a number of different way you can do it, like setup or get it cash flow, those types of things. And you can set this up in a way where you are building a couple of rigs yourself first. And I would build one to two rigs yourself and you can set it up on Ethereum Classic or Caspa or Helium if you want some of that low energy. And then I would document the process. I would document on YouTube or TikTok or Instagram to kind of give you some feedback there and then start a Facebook group, hey, Beginner Crypto Miners Club. Or you can start a school group Beginner Crypto Miners Club and you can start to sell these things inside of there. And I would post on Crypto Discords and Facebook groups and Reddit and offer a $499 start to finish setup service just to get it going. And I would show off the simple ROI math. So a $1200 rig is three to five dollars a day, break even in eight to 12 months. And so that is where you can look at that and really show people the math and the numbers and make sure it's true obviously. But you can sell all that put together. Now another thing you could do to scale and productize is you can sell pre built rigs on something like Etsy or your website, website. Then secondarily you can offer a course or a digital guide on how to build and maintain your first mining rig. And you can create monthly support services that are going to create that recurring revenue. So here's the monetization levers that you have. I think it's custom set up in person which is like $499 to about 1500 per client. You could do pre built rigs and you can profit per unit of you know, 3 to $500. You could do remote consults for 99 to $199 via Zoom. You could do monitoring plans for 99amonth recurring in a DIY course, 99 one time or 19amonth subscription. And so that's how I would kind of think of some of those. And then you just have to have an understanding of how all of this works. So I think you can make, you know, right around, if you had five clients for setup services, you'd make about five grand per month. If you had pre built rig profits, you'd make about $1,200 per month. If you had three of them that you sold per month. If you did monitoring plans, if you had 15 of those going at 99amonth, that's another 14.85 per month that you, you'd make. And then DIY core sales, if you sold 20 of them, you'd have 1980amonth. And so with all that you could, you know, right there, what I just stated was about nine grand a month solo. And then if you had the scale potential, you could probably go to 150,000 to $300,000 a year with team ads and affiliate deals. I think all of those are very doable when it comes to that business because most people don't know how that works. So that is the crypto mining business. The next one is going to be one that I think is kind of fun. And this one actually has massive. It has the most profit potential of all of them. So we're going to get into that one next. All right, the next one is you're going to be catering to rich people and what you're going to be doing is. I love this one for some reason, but this is a luxury seasonal decor subscription. That's a mouthful to say, but let me explain what this is. This is a service that goes to folks and it sets up, you know, holiday decor in their house, and it sets up holiday decor on their porch or along the exterior. And it does this as a subscription service. So there's a number of different ways you could do this. You could do it based on holidays and. Or you could do it by the season. So we're going to start off by the season. I'll kind of explain how this works and then from there we can go and see how we can set this up. But really wealthy people do not want to do a couple of things. One, they don't want to store holiday decor. For example, I am so annoyed with the amount of boxes that I have in my garage that are for Christmas that we pull out once every single year, we set it all up for Christmas, and then I have to put it all back and all away again every single day year. And so that is one of those things that really frustrates me on the amount of storage and space that it takes. Secondly, though, you got to do the work to put it all up. You got to remember where it is. You got to make sure the boxes are labeled correctly and you got to make sure everything is organized properly. Where instead, what if somebody, if you were really wealthy, what if somebody could come and set up seasonal decor for every season or every holiday to get you in that feeling and get you in the mood for the season, make your home a little more joyful, full, and they help you set it up with their own decor. You don't have to store it. You don't have to even set it up. They come in, they do it all, it's set up, you enjoy your home, then they come, take it down after that holiday is done. This is what we're talking about here. Now this is a little more sweat equity involved. You're have to do it in your local area. So but you can go and start to do this in a way that I think can make a lot of money. You're going to see how in a second. So you could start with your initial offer, which is four seasonal design installs per year. So spring, spring, summer, fall and winter. And you can choose one focal point per client. So if a client wants their entryway decorated, they could do that, or their mantle or their porch. I saw a lady who all she does is decorate porches and she makes over a million dollars a year or a dining table. And you can start with one big focal point and then kind of build it out from there. And then you can have the option to add holiday upgrades. So Halloween, Thanksgiving, Christmas, fourth of July, Easter, those are gonna be the big ones that people are looking at. Valentine's Day maybe. But you can do holiday upgrades for folks as well where you can more money just by doing this. So what you're going to need is you're going to need some starter inventory first, which is going to cost you some money depending on how many clients you have. You're going to need some high quality photos and some three to four mock installs so they can see the vision of what you're trying to do and some of the things you could do. I would have a really good Instagram page if I were doing this. You have a simple website or landing page with subscription pricing and I would add a payment system like square or stripe to that system and then local service area to keep logistics simple. So look at the wealthier areas in your town, your neighborhood, or look at the wealthier areas in the closest big city that you're in. Those are who I'd be marketing to. Now. Your core strategy is not just putting up rates. You're giving clients a Pinterest worthy home year round without lifting a finger. That's your big selling point, is a Pinterest worthy home without having to ever lift a finger. Now here's some key value propositions that I would put into place. You have design expertise with confidence, your social media worthy home aesthetics. You give people peace of mind. It just gets done each season. You don't have to worry about it or give them an exclusive of feel. We only take 25 clients per zip code, something like that. And then your growth plan. So here's what we're going to do is we're going to offer 20 to 25 founding memberships at 800 to $1,200 per year. You could pitch it this way. Your home deserves a seasonal glow up without the stress. And you can run ads or posts on high end Facebook groups and nextdoor and you can reach out to realtors who can gift this to high end clients. You can talk to interior designers for referrals or local mom groups or women's networks is another place that I would would look to set this up. And then you can layer on holiday upsell. So first you have these first subscriptions for some of these seasons. Then holiday upsells, hey, I'll do a Halloween spooky porch for $150 or a Christmas tree install plus a mantle for $500 or Thanksgiving tablescape for $200. There's all these different things that you can do for holidays that are going to allow you to do some of these upsells. And then you can run simple email campaign to members before each holiday with here's what this season's upgrade looks like. Do you want it? And you just show hey, here's what we're going to be doing this season. And that'll tell you how many of those items you need to order and move on with. Now if you want exclusive items every single year, you can always sell the old items after you're done. You're probably not gonna get as much back, but it'll reduce the cost of some of those. Or it is also something where you can kind of mix and match with different clients and kind of utilize some of the same stuff as long as it doesn't go out of style. So phase three is I would add tiers. So one space is $997 a year, two spaces is 1497 a year. Three spaces or your full home is three grand per year year. If you want your entire home covered with some of this decor, I think it's really cool to do that. And you could train assistants to install from your curated kits. This would be a very sop operated business but you could train other people to help you install. And then all you're doing is trying to meet with clients and grow the business. And then you can offer corporate packages for luxury Airbnbs or professional offices. I think there's some really big stuff that you could do there. And then you can also create a referral program of $100 per client referred. That is going to be another big one that I think you could do do and really, really get a lot more folks here. Now with that seasonal subscription you got the holiday upsells. You could do a one time decor install, you could do the corporate events, you could do the decor rentals. Like if people wanted to rent your decor without you installing it, they can come by and rent that decor. Maybe you do that with the old decors, you can actually turn it into rental items. Oh man, I love this business for some reason. And you can also sell, you know, custom welcome signs or branded gift baskets, or maybe you can even get some customers customize, you know, door signs, things like that for people, and limited edition wreaths or table decor as well. And so as you start to do this, let's say for example, you only had 25 clients and $997. It's about 25 grand per year. And then with the holiday upgrades and things like that, you could probably make another 10. This is on the low end. And then with five full time tier clients, you know, at the $3,000 for the entire home, you can make another $14,000 per year. And I think this is easily scalable. If you only had 30 to 35 clients, you'd be making about 75 grand a year. And you could easily scale this up to other cities, other towns and other places that would allow you to really scale this up, I think to a million dollar business pretty easily. And so not pretty easily. The logistics will be the big part of this. But it is one of those things that I think if you enjoy decor and you enjoy home design, this is a really, really cool business for you to be able to look into and start to work with some clients, clients that would be interested in paying you for some of those services. Because I think some of those wealthy clients will pay you a lot of money for this. They are willing to make their home look good for parties and the things that they are doing. And especially if you do them for holidays. If you could get somebody to pay you for each holiday, even better because there's a lot of upsells within this business that I think you can work through and really, really scale that business up even more. So listen, these are the first five side hustles that could turn into a full time business in this series. If you guys have any questions, questions, please join the Master Money newsletter by going to MasterMoney co/newsletter. And don't forget to follow us on Apple Podcast, Spotify, YouTube or your favorite podcast player. Listen. Our goal is to bring you as much value as we possibly can. I hope we did that today. Truly, truly appreciate you being here. If you have any side hustle business ideas that you want me to cover. If you came up with an idea, shoot them over to me and I will cover them on the show as well. Really, really excited to get this series rolling. And again, thank you all for being here, and we will see you on the next episode.