Rachel Cruze (1:25)

Okay. And how much have you guys made from this business so far?

Jake (1:29)

So based on what we're looking at, we're looking at between 10 and $20,000 a year.

Rachel Cruze (1:34)

Between the three of you, that's going to be split.

Jake (1:37)

Yeah.

Rachel Cruze (1:37)

Okay.

Jake (1:38)

Now my question is, is that, is there a possibility? Obviously we can't do a full time $20,000 a year, even if it was just one of us. So my question is, is number one, is it possible for me to do this full time? And number two, if it is, what are the steps to making this a full time thing?

Rachel Cruze (1:56)

Okay, so let's talk about it. Regardless of what the business or hobby is, let's talk through this how to do this wisely. We always tell people you want to get the boat close to the dock, meaning we want this business to be generating enough income to where you clearly can go, hey, if I did this 40 hours a week and we scaled up, I could definitely replace my income, if not get a raise. So what are you making now?

Jake (2:19)

Right now, my full time job, around $60,000 a year.

Chris Hogan (2:25)

Okay, good for you.

Rachel Cruze (2:27)

So let's say the business you were like, hey, we can see a path where this could make 180k this year. After expenses, we could, we could pay ourselves 180k. 60 grand each to make this work. Would you all go all in on it?

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Rachel Cruze (3:09)

See boostmobile.com Ramsey for details. Would you all go all in on it?

Jake (3:14)

No. Absolutely.

Rachel Cruze (3:16)

Okay. Okay.

Chris Hogan (3:17)

So with the partnership side, Jake, so that's, that's the money side. And I will say their partnerships can be very difficult. And the fact that you guys have three people who are going to have ownership in this company, you guys need to write out very, very, very, very clearly kind of this almost contract between you all when the worst case happens. Because for a lot of people in partnerships, the worst case happens. And that's everything from addictions, affairs, divorces. I mean, you go death.

Rachel Cruze (3:52)

Yes. Someone dies, someone wants out and they want to buy out. You got to buy out their share now.

Chris Hogan (3:56)

Yes.

Rachel Cruze (3:56)

How does that work?

Chris Hogan (3:57)

All of it. So you got to go through, like, in, like, a lot of detail. Think of, like, crazy situations and say, hey, if this plays out, here's what this looks like for us. And you want to be very upfront and very clear and to know that you and I hate to be Debbie Downer about partnerships, but when you go into something like this and you say, hey, we're going to commit so much time and energy into it, and I'm doing this with a family member and a good friend, there's a chance that that relationship doesn't survive if something happens to the business.

Rachel Cruze (4:31)

Because here's what happens. Likely one of you is going to be working harder or at least think you're working harder than the other ones. And so then there's resentment. You go, well, I feel like I should get 50%. You guys should get 25 each. Because I'm handling all the business, I'm doing all the sales. And so that's where you guys need to get very clear on what the roles are, what the boundary lines are between your. Your kras, your key results areas. And so if you do it that way, this could be a fun hobby that turns into something. What's your current game plan? Like, how do you get customers?

Jake (5:01)

So it's really word of mouth. And we have social media, but it's not really, you know, social media or. Social media isn't really, you know, big or anything, but it's really word of mouth. So if we, like, we did an investigation at pretty big barbecue restaurant near us, and that got us a few other people. Now, as for what you were saying with the, with people having, you know, written out roles. So I am the, I, I, I consider myself a leading. This is how it is. So. But most of the time, I am scheduling. I am, you know, finding new customers that are possible. I, you know, looking for anything new.

Rachel Cruze (5:45)

So you're like customer acquisition, new business.

Jake (5:48)

Yeah.

Rachel Cruze (5:48)

Okay.

Jake (5:49)

Yeah.

Rachel Cruze (5:49)

What about the other two?

Jake (5:51)

My cousin, she is the, the merchandise person.

Rachel Cruze (5:54)

We got merch already.

Jake (5:57)

What was it?

Rachel Cruze (5:57)

You got merch like T shirts and hats. What are we talking?

Jake (6:02)

So hollyweak. We look like a third party place where they create it and we don't buy anything. They just, they sell it. And we get a little bit like.

Rachel Cruze (6:11)

A drop ship situation. Okay.

Jake (6:12)

Yeah.

Rachel Cruze (6:13)

All right. And then third person, the friend.

Jake (6:16)

Yeah. He's the equipment tech. So what he does is if he wants to do. Well, first of all, if anybody asks questions, he's the guy to ask.

Rachel Cruze (6:24)

He's like the expert.

Jake (6:26)

Yeah.

Chris Hogan (6:27)

So without him, this whole business kind of dissolves.

Jake (6:30)

Well, I mean, all of us know all about the equipment. It's just I, I have him making, Having him ask, answer all the questions because basically to keep the workload off of myself and my cousin. Okay. So him and I know all about the equipment. My cousin still knows about it, but she doesn't, you know.

Chris Hogan (6:49)

Gotcha.

Rachel Cruze (6:50)

Okay.

Jake (6:51)

But basically what his job is is, number one, to explain the equipment to people if they ask questions. Number two is that if you want, if he finds a new piece of equipment, his job is to learn as much about that piece of equipment as possible, bring it to the company, and say, here, here's this amount of money. It can do this, this, and this and this. You know, he should be. I think we should buy it and then we have a discussion about it.

Rachel Cruze (7:12)

Okay. Most important question. Have you guys found any paranormal activity?

Jake (7:18)

Oh, yeah.

Rachel Cruze (7:18)

And then what happens? Do you get, like a reward? You get paid the same amount whether you find something or not?

Jake (7:26)

Yeah. So basically how I work is it's kind of like, you know, a money back guarantee. So if you go in here, and so we recharge anywhere between $50 to $110 to 160 per house, depending on what we're looking at, what the dangers are.

Rachel Cruze (7:45)

You said $160 on the high end.

Jake (7:48)

Yeah.

Rachel Cruze (7:49)

I think you guys need to up your prices, man. This is serious work. If you want to scale it, you need to look at all the factors here and you need to get enough people in the pipeline where you can go, hey, if we did this full time, we can make this work to.

Chris Hogan (8:01)

The point that you're having to turn people down because you don't have time for it.

Rachel Cruze (8:03)

That's how you know this is going to work. But for now, leave it as a hobby. Continue to try to grow it. I would start a YouTube channel and really make this a media company.

Chris Hogan (8:11)

That's a good point. And it's been, what, six months? That's. They said since August.

Rachel Cruze (8:13)

August of 25. So, yeah, we're talking six months still early on.

Chris Hogan (8:17)

So. Yep. I would just take your time. Don't rush into anything and don't go into debt for this equipment. Save up and pay cash.

Dave Ramsey (8:24)

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