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Lessons from Value Add Cottage Businesses to Help You Take the Next Step - Presented by John Pugliano
- 1. Lessons from VALUE-ADD Cottage Businesses John Pugliano March 5, 2015
- 2. DISCLAIMER…not providing recommendation or advice John Pugliano is only an expert
- 3. DISCLAIMER…not providing recommendation or advice John Pugliano is only an expert …in his own OPINION
- 4. AGENDA • Self imposed limitations • Lessons & highlights from Cottage (home-based) businesses • Breakout session • Ideate • Questions • Collaborate
- 5. DON’T BE A PURIST …you’ll miss the opportunity to create something AMAZING
- 6. Move yourself closer to the ETHICS • Care for the EARTH • Care for People • Return the Surplus
- 7. Frederick Douglass • Runaway slave and FREEMAN
- 8. Frederick Douglass I prayed for twenty years but received no answer until I prayed with my legs.
- 9. Frederick Douglass I prayed for twenty years but received no answer until I prayed with my legs. The purpose of this presentation is to inspire you to …TAKE THE NEXT STEP
- 10. Start where you are…with what you have • Even if it’s not much
- 11. Ever hear of Ephraim UTAH?
- 12. That little valley is home to NINE seed companies • Great Basin Seed • Intermountain Seed • Maple Leaf Seed • Maughan Seed • Mountain West Seed • NP Seed • Plummer Seed • Stevenson Intermountain Seed • Skyline Reclamation
- 13. You DON’T have to be ORIGINAL • MIMIC successful companies in your area or field of interest
- 14. THINK in terms of PRODUCT or SERVICE http://greenworksllc.com/
- 15. Jessica got inspired… • From a PODCAST • SPIN farming blighted area of SLC • $2,000 investment • Grossing around $70k on <acre • SUCCESSFUL? • Last time I saw her she was leaving to backpack across New Zealand
- 16. Jessica not only worked hard • She IMPROVISED • Need a 10x10 walk in cooler • New start at ~$4k
- 17. She built one • <$800 • Insulation • Used air conditioner • PLC temperature control • It could be disassembled and moved when needed
- 18. Regulatory Requirements & Restraints • COMPLY with the MAN
- 19. Comply with the MAN • Raw milk labels DISCLAIMER: I’m not saying you should do this…I’m just say’n 1/4
- 20. Follow the path of LESS REGULATION • Pet products
- 21. Don’t marry your concepts- date them • Commercial Kitchens can be RENTED… • By the HOUR, DAY, or WEEK
- 22. Don’t marry your concepts- date them • Commercial Kitchens can be RENTED… • By the HOUR, DAY, or WEEK Minimal startup costs…I’m just say’n
- 23. Permaculture tunnel vision • Expand your peripheral vision and STACK FUNCTIONS
- 24. What would you do if you owned a bobcat? • Permaculturalist • Swales • Hugel mounds • Terraces • Water catchment small market
- 25. STACK FUNCTIONS • General construction support • Traditional landscaping • Stump removal • Snow removal
- 26. Stump removal STRATEGY • Equipment • Used: ~$10k • Lots of sweat equity • New: financed ~ $2500/month cash flow needed to pay off 4 year loan • no money down with good credit • Treat debt like a poisonous snake • Early to bed, early to rise…work real hard and ADVERTISE • MARKETING…MARKETING…MARKETING
- 27. Stump removal Transition STRATEGY Stump Removal Mulch ryexservices.com
- 28. Stump removal Transition STRATEGY Stump Removal Mulch Permaculture Landscaping mundane commodity TRANSFORMATIONAL ryexservices.com
- 29. No money? • How HARD are you willing to work to build your dream?
- 30. Get started with a squeegee • Residential Window Cleaning • Not glamourous but profitable • Outside work • Work with your hands • In demand • Happy customers • “Green” solutions
- 31. Not glamourous but PROFITABLE • Do the math • $5/pane…2,000 sqft house…$150/house • How many houses do you live near? • Easy to determine the NEED • CONSUMABLE Did I mention it’s mostly a “cash” business…I’m just say’n
- 32. Cash in on TRASH
- 33. You don’t have to own a junk yard • Think NICHE…you don’t want the whole car • Just the EXPENSIVE parts • Used Lexus headlight assembly • sold on Ebay for >$700
- 34. Salvaged auto parts STRATEGY • Little to NO cash required to start • The problem is the solution 1/2
- 35. Auto body shop DILEMMA • Salvaged parts are valuable and owner will get around to re-selling them • He never does…
- 36. Consignment sales – the SOLUTION • YOU approach auto body shop with an offer he can’t refuse… • Inventory & categorize • Clean up • Photograph & list online • Split profits
- 37. How many auto body shops are within a 20 mile radius of your house?
- 38. Cash in trash…one for the Lady’s
- 39. Cosmetics • Overstocks…Closeouts…Damaged items • There are truckloads available • Re-sell online
- 40. THINK: shelf stable Apple Pie - shelf life ~ one week
- 41. THINK: shelf stable Apple Pie - shelf life ~ one week Jerky - shelf life ~ 10,000 years Less loss to spoilage…MORE PROFITS
- 42. You don’t have to reinvest the wheel • Humans have been harvesting honey for at least 15,000 years…
- 43. Eco Bee Box LLC Metal brackets permit easy construction of super from local lumber or salvaged materials Small frames make harvesting honey easy for the hobbiest or micro bee keeper
- 44. Service vs Product • Host-a-Hive • SPIN farming concept applied to bee keeping • Host buys or rents hive…YOU provide the beekeeping service • Excellent source for LOCAL HONEY
- 45. LOCAL HONEY has higher profit margins… • Typical honey pricing $/lbs: • WalMart: $4.00 • WholeFoods: $8.00 • Local: your price?
- 46. Poor man’s MBA • Determine MARKET size & scope • On the shelf at WalMart Large market potential and • On the shelf at WholeFoods Permaculturalist potential
- 47. Poor man’s MBA (continued) • Determine PRICE point • Whole Foods retail price = your MINIMUM price
- 48. Poor man’s MBA (continued) • Determine PROFITABILITY • WholeFoods price - your cost to produce = OPERATING PROFIT • IS IT WORTH YOUR TIME? • YES…DO IT ! • NO…look for something else…iterative process 3/4
- 49. LOVE Animals?
- 50. Make your horses pay for their own feed Ryan @ Cowboy Carriage
- 51. City Tours…Corporate Events…Sponsorships • Weddings • (starting @$750) • Brewery tours • (starting at $500)
- 52. Dog trainer/breeder • Service Dogs • Assist dogs: $10k • Visually impaired guide dogs: $20k • Personal Security Dogs • $5k-$20K
- 53. Concern for personal security • 48% of first time gun purchases are by WOMEN
- 54. Concern for personal security • 48% of first time gun purchases are by WOMEN Which do you think she’d rather curl up with?
- 55. Humane animal control • Yuppie’s love large homes in natural settings
- 56. They’re just afraid of “wild animals” • $300-$600 McMansion attic removal fee
- 57. Attention to detail? • Model ship assembly • $1,595 Old Modern Handicrafts
- 58. Attention to detail? • Model ship assembly • $1,595 Old Modern Handicrafts It comes in a kit…I’m just say’n
- 59. Rebirth of the Middleman • Large companies don’t want to be bothered with small orders
- 60. Powder Coating • Environmentally friendly way to apply paint • Powder is shelf stable • Easy to handle • Buy in bulk…sell by the ounce
- 61. Powder Coating STRATEGY • Buy in bulk from manufacturer or large distributor Break down into small orders • Service local market & re-sell online • Specialize in a particular industry • Stock niche colors $2/lbs $12/lbs
- 62. Re-think the tiny house movement Millennial LOVES tiny house
- 63. Re-think the tiny house movement Millennial LOVES tiny house No money Baby Boomer DISCRETIONARY income @livingthervdream
- 64. Baby Boomers LOVE RVs • Sales up 20% • Class B van: • Used ~$20k • New starting around $50k Think TINY HOUSE CONCEPT
- 65. Handy with TOOLS? • Consider starting a Van CONVERSION business • Minimal startup costs • Scalable • Limited only by your imagination
- 66. Service vs Product Used Class A RV starting price around $50k PROBLEM • Sketchy reputation of Re-Sellers • What happens to a used car salesman that gets fired for being dishonest?
- 67. SOLUTION • RV pre-sales inspections • Demand from both Buyer & Seller • Demand in both Urban & Rural locations • Unregulated in most States • Typical inspection costs $800-$1200
- 68. Breakout session • Q&A • Ideation • Networking • Collaberation
- 69. Are you ready to take the NEXT STEP?
- 71. BREAKOUT SESSION • Introduce yourself & your idea • What’s the biggest obstacle holding you back? QUESTIONS?
- 72. BREAKOUT SESSION PRODUCT SERVICE Undecided…pick a group