Make $5,760 On The Beach

Welcome to Ghost Business 👻 Your (mostly) weekly email, where we turn $1 into thousands building these weird but simple side hustles

Summer lovin’… Seasonal hustles have a special place in my heart. You know when they’re gunna be hot (puns) and if you execute well, you’ll be able to make all of your cash for the year in a few months.

So when my friend floated (puns!) this idea by me, I knew it was something I needed to share with you in hopes that one of you will take it and paddle off with it into the sunset… 🤷‍♂️ (okay, no more puns)

Today we’re talking about paddle board and kayak rentals.

Inspired by these guys https://perfectwave.com/rentals/

This is a “buy once, sell twice” asset. And I love that big ol’ asset.

So let’s jump into this hustle while making a splash and see how we can avoid getting burned in the process. (LAST PUN I PROMISE) 😬 

The MVP (Getting your first customer)

Up Sh*ts Creek… MVPs consist of testing ideas for the lowest price possible. For something like this, here’s what I would do:

1. Buy a used paddle board or kayak, I see them for sale around $100 (where I’m writing from)

   

2. Go on amazon and buy a “For Rent” sign, like this one for $2

3. Go to your nearest body of water

4. Put your For Rent sign on your paddle board

5. When folks walk by, offer to take some pics for them if they decide to rent

6. Rent these for the same prices as Perfect Wave ($25/hr)

7. After 4 rentals, you’re officially break even

All in, we’ve spent $102 to test this idea.

Looking at these numbers, we will break even within a week and the rest is profit!

Getting Your Next 100 Customers

Whatever floats your boats… There’s a bunch of different options we can do to scale this bad boy!

1. We can offer more options - floating tubes, unicorns, jet skis, etc (this comes with higher storage costs)

2. We can offer lessons (Perfect Wave offers to teach your dog to paddle board 🐶 )

3. We can offer tours or experiences

4. We can offer fixes/maintenance on equipment

5. We can offer water/beach game rentals (spike ball, water guns, etc)

So lets stay conservative and estimate we can book 4hrs a day Friday through Sunday at an estimated $40/hr.

We’re looking at $160/day or $480 for the 3 day stint.

If we keep this up from June to August = 12 weeks, that’s $5,760 for the summer!

Viability:

1 [building spaceships] 🚀 to 5 [easy peasy] 😊 

Do ghosts float?… I love this. It’s perfect for students or folks with summer breaks that want to earn some easy side cash.

This can be run by literally anybody and is something you can start this weekend if you wanted!

(As usual each business will have it’s own setbacks, and it’s all about the execution and consistency rather than just having the idea)

It’s a great day to be great!

Love, Mike 👋