Making $8,000 Folding Laundry

If you’re new here, we turn $1 into thousands building these weird but simple side hustles. Welcome to Ghost Business 👻 Your (mostly) weekly email.

Suds n sweaters… Nothing gets me hot and bothered like a sandwich board with a side hustle on it. In fact this is the actual below sign that caught my eye 👇

It was a sign from the heavens, as I’ve been fresh out of side hustle ideas.

BTW if you have any side hustles you’ve been working on, reply to this email with the details!

Now let’s dive into Fresh & Clean Seattle to find out how much they are bringing in and how we can start a clothes cleaning biz ourselves.

The MVP (Getting your first customer)

So fresh and so clean… This may be the hardest side hustle I’ve dove into, but it’s not why your thinking.

I’ve been blessed with the dexterity of 2 left hands that are all thumbs. The thought of folding some poor souls laundry into a hurricane type tornado for hours a day brings pure fear into my soul. But I digress…

Let’s look at what Fresh & Clean actually offers:

• $99/mo

• $3.30/lb for first 30 lbs

Couples Plan

• $186/mo

• $3.10/lb for first 60 lbs

Family Plan

• $261/mo

• $2.90/lb for first 90 lbs

Checking out a neighboring Laundromat, here are the prices, if we are to bring the laundry here:

• Singles Plan: 4 Loader Washing for 30lbs at $7.50 + dryer at $4.50 = $12 total ($87 profit)

• Couples Plan: 6 Loader Washing for 60lbs at $10.50 + dryer at $9 = $19.50 total ($166.50 profit)

• Family Plan: 8 Loader Washing for 90lbs at $12 + dryer at $13.50 = $25.50 total ($235.50 profit)

Making some rough assumptions, if we can get one of each plan per week (singles + couples + family) we’d be looking at $489/week in profit or $1,956/mo.

NOT BAD!

Getting Your Next 100 Customers

Delicate setting… So far so good, numbers are in our favor and we are only spending on marketing and a website so far, easily less than $100!

After you’ve taken over the market in your area, we can either expand to other markets or diversify our offerings.

We can include add ons such as fabric softeners, folding, dry cleaning, scents, deliveries, etc.

We can target specific demographics; busy moms, construction workers, students, etc.

All in, if we can increase our sales to 10 of each plan per week we would be looking at $4,890/week or $7,824/mo in profit 🤯 

Viability:

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

Dry money… Other than the folding 😢, this hustle is pure gold. There’s so many options to get started at a really cheap price (less than $100) and this can be turned into a full time job very easily.

What you’ll want to watch out for is damaging clothes and losing items 😬.

(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 👋