This simple business is bringing in $6,160 / day 👀 - Ben's 1x1x1 - September 27, 2024 🚀
For those of you that are new here, every week I send what I call a 1x1x1.
One interesting thought from my week. One interesting find/tool from my week. One image from my life.
Let’s dive in 👇
Thought from the week
This simple business has been right under my nose for years quietly bringing in $6,160 / day
Like many of you that read my silly newsletter, I make money predominantly on the internet.
Start up costs are low. Competition is high. Execution is crazy important to stand out. And my lower back is shot!
One of my favorite arguments for internet / SAAS businesses is the margins. You just can’t beat them!
And then my wife started going to this workout class.
I never thought much about my wife’s daily trips to the workout studio down the street from us, until she started mentioning the word “waitlist”.
Waitlist (or in other words too much demand or a scarcity of supply) always perks up my ears like a Border Collie hearing a squirrel.
So she gave me the download and I did some digging.
Y’all. CHECK THIS OUT 👇
The workout studio my wife goes to is called Barre3. Here is the breakdown:
- On average, they have 35 people in a class.
- They have 8 classes a day.
- They have a number of different pricing packages but for the sake of this exercise, we’re going to say the average person pays $22 / class.
- The only equipment in the class is railings on the walls and these medium sized exercise balls (in other words, very low build out cost)
These studios are super simple.
- There is one employee per class - the teacher/coach who makes between $20-40/class.
That means, this one location is doing an estimated $184,800/month in revenue with estimated monthly costs of $12,584/month.
Do the math. That’s a 93% margin.
This seriously got my gears turning. Like I’m not sleeping gears turning (I hate that!).
I’m not jumping into the Barre space anytime soon but it definitely gives me ideas for businesses that can run with similar modeling.
Interesting find/tool of the week
The Bear Season 3 Episode 1
Probably the most artistic and motivating piece of content I’ve seen in years.
Even if you haven’t watched the show, just jump straight to the episode.
I’ll be watching it again today.
Let me know if you watch it and what you think!
Image from my life
Portland work trip with the added bonus of getting to see my sister!