Welcome to Ghost Business 👻 Your Tuesday & Friday email, where we turn $1 into thousands building these weird but simple side hustles

Cold AF

Trend surfing… Trend surfing is the act of riding the wave of a hot trend. Today, we’re about to curve up some gnarly tubes of the trendy cold plunges (you can probably tell, I don’t surf).

If you’ve been following along in this Ghost Biz journey, you’ll know my favorite side hustles consists of building/creating something once and selling it twice. This hits real nice in rental markets.

Most times when I’m looking for a hot rental market to get into, I’ll think of:

• whats trending right now

• whats pricey +$1,000

• what can rent for +$100/day

Home run grand slam dunk touchdown, by golly we got something.

I’ll preface this with I do not like cold plunges. I don’t understand why other people like cold plunges. I will not (voluntarily) use this product. BUT I’m happy to sell it to the suckers customers that love it.

How this would work is fairly simple:

1. Buy a cold plunge ($1,500+)

2. Offer to rent the cold plunge for ~$125/day

3. Offer upgrades such as fire pits, wooden chairs, towels, etc

4. Target customers: yoga studios, music festivals, fitness studios, company retreats, bachelor(ette) parties, etc.

The MVP (Getting your first customer)

Would you like ice with that?… Depending what your current cash savings are, you can get this started a couple of ways:

• If you have the funds, buy one now and promote it.

• If you don’t have the funds, promote first then buy one (after a booking).

Regardless of which route you go, you’ll want to get a facebook and google business page set up immediately. Bring the tub to a friends house to test out the process of setting up, cleaning, and breakdown. Ask the friend to take a bunch of pictures during the whole thing to add to your business pages.

This will cost:

• $1,500 for a cold plunge

• $0 - $20 for ice

• $20 custom stickers (on cold plunge) for branded stuff

All in $1,540

Getting Your Next 100 Customers

Fitness 🤝 Ice… It’s no secret that fitness folks love pain. Their pain is healed by ice. GOOD NEWS: you’re selling ice. Once you get a couple of rentals through friends and family, reach out to fitness studios in your area. (shared office spaces may also be a good option)

Always start with smaller gyms then move over to the larger chain gyms. Once you can grab a steady booking (maybe once a week) you’ll be ready to purchase another one and set Ice Ice Baby as your alarm from now on.

Hot tip: Grab as much re-occurring revenue as possible. This will make your business VERY scalable & sellable 🤑

If you can get 2 bookings per week:

• 2 x $125 = $250/week or $1,000/month

• Add ons can be an extra $50/week

• Break even in 2 months

Viability:

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

Ice in your veins… I’m putting this as a 3 ghost viability, for two main reasons:

1. this is pricey to get started +$1k

2. this is a large item and you’ll need a large vehicle to lug these around

(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 👋