It is impossible for any of us to see the future. No one can predict how one action or choice might lead to a new opportunity. We simply have the choices we make today and hope for the best for tomorrow. And occasionally a new door opens that we never could have expected or foreseen. That is what just happened to us!!!
WHAT WE DID
If you read my blogpost “Do You Have Side Hustle Fun?” then you know that last year we “jumped into” the bounce house business. We purchased a single bounce house and started advertising it for rent on Facebook and Craigslist. I thought that was a brilliant move, as nobody within a 60 mile radius of us seemed to be in the inflatable business. And again, if you read my post, it has worked out well. We didn’t make a killing off of it, but that single unit has set us up to bring in an estimated $1500-$2000 extra this new year.
What I didn’t realize was that there was another side hustler 60 miles away who was reading the book “Rich Dad, Poor Dad.” He was learning about how the wealthy handle their finances compared to the average person. [Note: This is a great read if you’re looking at shifting your perspective on how you use money and and generate assets that produce income. I highly recommend it!!! Order a copy here.]
As the “distant side hustler” kept reading, he began making choices for his family to shift their financial position. One of the choices he made was to purchase a party inflatable business from a gentleman who had been in the game for over 25 years. He purchased all of the inventory as well as the customer list. Then he contacted me…
Out of nowhere I get a message from this guy who wants to meet and talk about forming a partnership. He is a fellow “big idea” kinda guy and he wanted to expand his bounce house reach into my area.
He offers me access to his entire inventory, 28 different units (obstacle courses, human foosball, an inflatable laser tag arena, slides, joust, etc) worth more than six figures. That’s an inventory I could NEVER afford! In this partnership, I am able use these units to book whatever events I’d like, pending availability, and he and I split the profits.
THE WIN FOR HIM: At the end of the day he gets a “contractor” who is booking parties and making him money. Instead of having down times where his units would be in his warehouse collecting dust, he has leveraged that downtime to increase profits by reaching into a new market.
THE WIN FOR ME: At the end of the day I have access to inventory I can’t afford, allowing me to offer more to my local community than I previously could. And to give you an idea as to our agreement, with only ONE After Prom Party (a typical event that would rent multiple large units), I could just about make as I did ALL LAST YEAR with my single bounce house unit! WOOHOO!!! Now sure, I do all of the work, but he carries all of the expense, all of the storage, all of the upkeep, and all of the risk. To me, that’s a good deal!
We always need to keep our side hustles in proper perspective. Will your side hustle grow like this every time? Of course not. In fact, quite the opposite might happen. You may realize that your side hustle needs to be put down forever and you just need to walk away. On the other hand, you may simply decide to start a small side hustle to make a little extra cash, and less than a year later a new door has opened up to opportunities you never could have foreseen.
So, if you haven’t kicked off a new side hustle, now is the time! Remember, the #1 key to an awesome side hustle is simply to DO SOMETHING!