Side Hustle School - Side hustle schol STORE MANAGER MAKES MICRO GAINZ FOR MACRO PROFITS

Side Hustle School - STORE MANAGER MAKES MICRO GAINZ FOR MACRO PROFITS When a grocery store manager hits a weightlifting plateau, he creates and sells micro weight plates through hard work and heavy lifting. Subscribe Download Share What It's About A grocery manager proves that micro gains make a huge difference. BUSINESS MODEL PRODUCT SKILLS REQUIRED MANUFACTURING & MARKETING COMPLEXITY MEDIUM PROFIT POTENTIAL HIGH Words of Wisdom Research all potential competitors in the market and figure out how much they are selling in order to see if their product is worth producing. I did this with Micro Gainz. I looked up several micro plate sets offered on Amazon, found their seller rank, and found out roughly how many they were selling in a month. Once you have that information you can come up with a basic business model to determine if the business is feasible. Fun Fact The fitness industry is an enormous market in the USA. With close to 40,000 different clubs and estimated revenues of 30 billion per year, there’s plenty of opportunities to be had. NOTES FROM CHRIS Episode 997 Michael Reed works as an assistant manager for Weis Markets, a popular grocery store chain in New England. On any given shift he might be motivating staff, helping customers or lifting heavy boxes while helping pack shelves. For the most part Michael enjoys his job, especially the latter of those tasks. Because you see, in Michael’s spare time he’s an avid gym junkie. In the words of Arnold Schwarznnegger, he likes to pump iron. Weight training in particular is one of his favorite ways to exercise. In particular he enjoys barbell training. It provides a measurable way to progress by keeping track of how much weight you’re able to lift. If you put in the work this week, next week you’d be slightly stronger, then, slightly stronger again the week after that. Eventually though, lifters reach what’s known as a plateau. That’s the point at which they stop making rapid improvements and the work doesn’t produce the results it used to. When Michael hit his plateau, he looked ways to remedy the situation. Before long he came across weight plates. Weight plates are small sets of weights that lifters add to their dumbbells to increase the overall weight in smaller increments. So, instead of adding five pounds, they can add a quarter, half, three quarters or a full pound. It enables them to make the incremental increases in weight that help bash through weight lifting plateaus. Michael knew this was exactly the product he needed. So he hopped on over to Amazon to see what was on offer. The options there were limited, expensive and almost all were made in China. Being a handy kind of guy, Michael figured he could make some cheaper himself right at home. He also thought he might be able to sell a few on the side. He called it Micro Gainz—with a z—Micro for the small plates and Gainz for the inevitable gains weightlifters would have using them. To start, Michael went to a local steel laser cutter and had twenty five of each size cut, from a quarter pound to one pound. That was enough for him to make eight sets. The first batch of sets sold relatively quickly and Michael was left with a small profit when all was said and done. He chose to invest all the proceeds into buying more steel plates. After a few reps, he realized his process of making the plates was far too time consuming. Over the next year, he refined his plates and process even further. Consequently, he sold more than four times what he did in the first year, one hundred and thirty thousand dollars worth. In October 2018, he listed Micro Gainz on Amazon and sales exploded again. With a huge uptick, revenue in 2019 is already at one hundred and sixty thousand dollars. With that sort of money on the weight lifting bench, you might think that Mike has quit his full-time job by now. But that’s not the case, he has been pouring all the profit generated back into Micro Gainz with maximum intensity. To do that, he’s now working on the next line of Micro Gainz plates which will be color coded. He also has ideas for another couple of product lines he can create in the same space. With enough sets and reps, he’ll go from Micro Gainz to macro profits. MENTIONED IN THIS EPISODE: • Micro Gainz: Looking to maximize your gains? Check out Michael's website to see his entire product line. Link to page: https://sidehustleschool.com/episode/997/ TAGS #NICHEIDEAS # POWEROFOBSERVATION #PRODUCT #RESELLINGUNIQUEIDEAS