Hot tub cash machine 🛀
Today’s estimated read time: 2 minute & 23 seconds
When I first came across Steve Nadrimia’s story, I almost quit my job to start doing this in Utah. If you want the full story directly from the horse’s mouth, check out this episode on The Side Hustle Show with Nick Loper.
Stick with me and I’ll give you the breakdown.
Our boy Steve buys 3 portable hot tubs like these with the goal of renting them out to replace his summer job.
Startup cost: $6,500
At the time, almost no one was doing this, except for a few companies in Europe.
With his truck to deliver the tubs, a Squarespace site, facebook marketplace for leads, Google Voice for phones, and Square for payments, it was a low overhead operation. Bada bing bada boom 🤑🤑🤑
Not as cool as a hot tub time machine, but pretty close.
Currently, Steve has almost 30 tubs, and is considering bringing on some part time help. His current prices are:
$209 for a weekend
$269 for a full week
$499 for a full month
👆🏼 pretty good pricing decoy btw
Not bad for a 1 man show. I’d be surprised if he isn’t doing less than $6,000 a month.
30 tubs @ $200 a month = $6,000
Key Takeaways:
Creating a market is very difficult. Products that are highly Instagrammable (like portable hot tubs) create the viral marketing and “wow” factor you need.
As a rental company, Facebook is your friend. Free marketing is the best marketing.
When you build a market, you own that market. It may be hard, but when you can do it successfully it’s like competing as a Jamaican in the 100 meter dash. Pretty hard to beat.
UNIQUE AIRBNB OF THE WEEK
We’re taking this one back to my roots (pun intended) in good ole Idaho. Presenting, the Big Idaho Potato Hotel!
While it does just look like a giant potato on the outside, the interior is pretty nice.
Recycled from the Idaho Potato Commission’s Big Idaho Potato Tour, this 6-ton potato traveled on the back of a semi to (48) states for seven years.
As always, we would love your feedback on this week’s issue of The OG STR. Hit reply and let me know what you thought!
Thanks for reading this edition of the OG STR. We’ll catch you next week!