**Plastic Moving Bin Rentals**
Everyone knows moving sucks. The worst part is being stuck with 400 cardboard boxes at the end of your move.
Instead - @benmlevy told me about Gorilla Bins. They dropoff plastic moving bins, & pickem up later.
If you're a college student who wants to pay off all your loans... here's an idea for you:
It takes ~$5k to start and will make ~$30k a year of profit
It won't get you rich, it'll pay for college.
(..and will teach them more about business than they’ll learn in school)
**Plastic Moving Bin Rentals**
Everyone knows moving sucks. The worst part is being stuck with 400 cardboard boxes at the end of your move.
Instead - @benmlevy told me about Gorilla Bins. They dropoff plastic moving bins, & pickem up later.
To do that, I think we’ll need $50k in revenue.
The avg move (a 2 bedroom apartment) is $180
To hit our goal, we need do ~5.5 moves per week
How many bins do we need to buy up front?
5.5 moves a week x 50 bins = you need 275 bins. Let’s round up to 300 to be safe.
Ok let’s hop over to @uline to see how much these bins cost
$15 x 300 bins = $4,500 initial startup costs.
Time to beg your parents or a rich aunt to lend you money to get the biz rolling (...or just take $5k of student loan money and invest it here…)
You buy the bin for $15. Each move, you're renting it out for ~$3.50 per bin
~4 moves and it’s paid off.
Over a 2 year lifespan, the bin will get rented out ~100 times, for ~$350 in revenue
That’s a 23x return on investment, per bin!
People waste a ton of time on naming, branding, incorporating. We’re going to do ALL that stuff in an hour, for like < $300.
We want a simple name. Like the moving company Two Guys & A Truck.
Bin Bueno?
The Miami Bin Company?
….wait..
Miami Bin Boyz !
Name is available for $1/mo!
Just type in the name and what it does..and it spits out some logos.
OK it gave us 3 options… I like #2 with the wave logo the best.
I hate overpaying lawyers for basic stuff.
If I'm getting sued. I'll pay top prices.
But for basic legal paperwork? Upcounsel baby.
$300 bucks for something like this.
Such a great business 👏 👏 @XavierHelgesen @SievaKozinsky
We bought 300 bins, and branded them with stickers from @stickermule .
Now we just need customers (aka the hard part)
Well we’re shooting for $50k in revenue
$4,500 for bins
$500 for misc startup costs
~$8k in labor (pickup & dropoff bins) per year
If college costs $30k a year, that leaves you about $7k for a marketing budget.
In most cities, there’s nobody advertising for the keywords “moving bin rental + [cityname]”
eg. miami, the company advertising doesn't even serve Miami!
1) Take this concept and franchise it to students in other college towns
2) add on a moving truck service to increase profits
3) or sell self storage leads to guys like @sweatystartup
For less than < $5k of startup costs, you’ve built a business that will profit >$30k a year.
You’ve paid for college, and probably will learn way more doing this than anything you’ll learn in the classroom.
I break down ideas & businesses like this every week!
More from Shaan Puri
More from Finance
Last week Hizbollah's finance institution Al Qard el Hasan was hacked by Spiderz. A group of people took that Data and tried to make sense out of it. Below are the findings
https://t.co/eGLqvb28o5
Loans are provided to borrowers for gold deposits or other guarantees, to the association's members and to unsecured applicants.
AQAH had a carried forward loan balance of $450 million as of December 31, 2019. This balance has been increasing at a yearly rate of 13.4%.
AQAH laundered around $475 million in 2019 in the form of disbursed loans paid to more than 20,000 borrower accounts; mostly to borrowers with gold deposits.
Deposits accounts have been offered to 307,000 members of the association, 83,000 contributors as well as to 600 companies. AQAH closed 2019 with an overall depositors accounts balance of around $500 million.
https://t.co/eGLqvb28o5
Loans are provided to borrowers for gold deposits or other guarantees, to the association's members and to unsecured applicants.
AQAH had a carried forward loan balance of $450 million as of December 31, 2019. This balance has been increasing at a yearly rate of 13.4%.
AQAH laundered around $475 million in 2019 in the form of disbursed loans paid to more than 20,000 borrower accounts; mostly to borrowers with gold deposits.
Deposits accounts have been offered to 307,000 members of the association, 83,000 contributors as well as to 600 companies. AQAH closed 2019 with an overall depositors accounts balance of around $500 million.
1/ I'm thrilled to announce the launch of my new website, a one-stop shop for all the content I'm creating.
There you'll find links to all my podcasts, the TTMYGH newsletter, and other exciting future projects.
2/ In 2020, I reignited my passion for interviewing brilliant people by launching The Grant Williams Podcast in various forms, including The End Game, The Super Terrific Happy Hour, and The Narrative Game.
3/ Starting February 1, I'm taking the bold step of moving these podcasts completely behind a paywall.
For the very affordable price of only $10 a month, listeners can gain access to the Copper Tier of https://t.co/fxUfH8maI4, which includes all current & future podcasts.
4/ Why am I doing this? First and foremost, I aspire to create VALUABLE content. By definition, if something is priced at $0, it isn’t valuable. The time, effort and creativity that goes into these episodes is substantial. To keep doing them properly, they can no longer be free.
5/ I also strongly believe content creators should be able to make a living creating content. If everything is free, that’s not possible. I never seriously considered accepting outside sponsors – complete integrity is too critical to me.
There you'll find links to all my podcasts, the TTMYGH newsletter, and other exciting future projects.
2/ In 2020, I reignited my passion for interviewing brilliant people by launching The Grant Williams Podcast in various forms, including The End Game, The Super Terrific Happy Hour, and The Narrative Game.
3/ Starting February 1, I'm taking the bold step of moving these podcasts completely behind a paywall.
For the very affordable price of only $10 a month, listeners can gain access to the Copper Tier of https://t.co/fxUfH8maI4, which includes all current & future podcasts.
4/ Why am I doing this? First and foremost, I aspire to create VALUABLE content. By definition, if something is priced at $0, it isn’t valuable. The time, effort and creativity that goes into these episodes is substantial. To keep doing them properly, they can no longer be free.
5/ I also strongly believe content creators should be able to make a living creating content. If everything is free, that’s not possible. I never seriously considered accepting outside sponsors – complete integrity is too critical to me.
If you want to become financially independent and don't know where to start, here is a thread that will help you get started
/THREAD/
1. Review your expenses and make a budget
It will help you see where you overspend, make a plan to save, pay down debt and start
2. Set your investing and retirement goals
How much do you need to support yourself in retirement and when do you want to
3. The earlier you start investing, the better.
Here's why and how time and compounding can become your
4. Invest in an index fund
It's easy, safe, cheap, and the best choice for a beginner in investing, with not much time for
/THREAD/
1. Review your expenses and make a budget
It will help you see where you overspend, make a plan to save, pay down debt and start
Budgeting, the 50-30-20 rule, and the envelope method
— Kostas \U0001f468\u200d\U0001f4bc \U0001f4c8 \U0001f4b8 (@itsKostasWithK) January 6, 2021
Your first step towards financial independence
/THREAD/ pic.twitter.com/Tmuc3Itca5
2. Set your investing and retirement goals
How much do you need to support yourself in retirement and when do you want to
The most important number for your retirement: The 4% rule
— Kostas \U0001f468\u200d\U0001f4bc \U0001f4c8 \U0001f4b8 (@itsKostasWithK) January 7, 2021
What Is the Four Percent Rule?
/THREAD/ pic.twitter.com/8n1R1UZI5c
3. The earlier you start investing, the better.
Here's why and how time and compounding can become your
The Miracle of Compound Interest and the Rule of 72
— Kostas \U0001f468\u200d\U0001f4bc \U0001f4c8 \U0001f4b8 (@itsKostasWithK) January 2, 2021
//THREAD// pic.twitter.com/AOqd3kL6cn
4. Invest in an index fund
It's easy, safe, cheap, and the best choice for a beginner in investing, with not much time for
Jack Bogle, the Father of Indexing
— Kostas \U0001f468\u200d\U0001f4bc \U0001f4c8 \U0001f4b8 (@itsKostasWithK) January 8, 2021
How John "Jack" Bogle's creation impacted investors more than Bill Gates, Steve Jobs, and Warren Buffett combined
/THREAD/ pic.twitter.com/4wPi8x3cXn
** MEGA THREAD ON Cryptocurrencies/Blockchain**
I wanted to know the best resources to learn about cryptocurrencies and blockchain for someone with zero knowledge. I asked Twitter, and Twitter answered.
This thread is a compilation of the best resources I was recommended. 👇👇
Let's start with ** BOOKS **
The first thing you should do before you pick up any book:
Learn about Bitcoin & Ethereum by reading the respective whitepapers.
- [Bitcoin white paper](https://t.co/cErOaFn6QL) by Satoshi Nakamoto
- [Ethereum White paper] (https://t.co/0g5kYCGJGq) by Vitalik Buterin
Even if you are not tech savvy, you can get a good grasp about how blockchain functions from these papers.
1) *The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them* by Antony Lewis
This book covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining.
It also answers how payments are made and how transactions are kept secure.
Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens.
I wanted to know the best resources to learn about cryptocurrencies and blockchain for someone with zero knowledge. I asked Twitter, and Twitter answered.
This thread is a compilation of the best resources I was recommended. 👇👇
Let's start with ** BOOKS **
The first thing you should do before you pick up any book:
Learn about Bitcoin & Ethereum by reading the respective whitepapers.
- [Bitcoin white paper](https://t.co/cErOaFn6QL) by Satoshi Nakamoto
- [Ethereum White paper] (https://t.co/0g5kYCGJGq) by Vitalik Buterin
Even if you are not tech savvy, you can get a good grasp about how blockchain functions from these papers.
1) *The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them* by Antony Lewis
This book covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining.
It also answers how payments are made and how transactions are kept secure.
Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens.
