Business Idea Generation

[Almantas]

Hello guys. I hope you had wonderful Christmas with your families! Now, get back to business!

Firstly, thank you all for amazing posts and unlimited amount of business ideas. It's so weird when business ideas unconsciously reach me. Even when I am lifting weights at the gym and not thinking about business at all. Ok, sorry, wasting your time...so here's the deal:

I am living in a region that has approximately 100'000 people. Most people work from 8 - 17. As we all know, kitchen appliances such as fridge, dishwasher, cooker, washing machines, TVs and so on brake from time to time. Most local shops that could fix kitchen appliances close at 17 and usually charge huge prices, not to mention waiting time. I can imagine the frustration of a customer waiting a week for his/her dishwasher to get fixed, when it might be a small technical tweaking that needs attention.

Here's my solution: I will have local guys with technical expertise and their own vehicles + equipment ready to help the customers with their technical problems.

It's very similar to a handyman service, just concentrated solely on fixing technical appliances.

Any ideas?

 

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[Andy Black]

Hello guys. I hope you had wonderful Christmas with your families! Now, get back to business!

Firstly, thank you all for amazing posts and unlimited amount of business ideas. It's so weird when business ideas unconsciously reach me. Even when I am lifting weights at the gym and not thinking about business at all. Ok, sorry, wasting your time...so here's the deal:

I am living in a region that has approximately 100'000 people. Most people work from 8 - 17. As we all know, kitchen appliances such as fridge, dishwasher, cooker, washing machines, TVs and so on brake from time to time. Most local shops that could fix kitchen appliances close at 17 and usually charge huge prices, not to mention waiting time. I can imagine the frustration of a customer waiting a week for his/her dishwasher to get fixed, when it might be a small technical tweaking that needs attention.

Here's my solution: I will have local guys with technical expertise and their own vehicles + equipment ready to help the customers with their technical problems.

It's very similar to a handyman service, just concentrated solely on fixing technical appliances.

Any ideas?

Yep, I help a friend do that:

• The biggest benefit of AdWords
• Lead Gen for local service businesses

 

[Almantas]

Yep, I help a friend do that:

• www.thefastlaneforum.com/community/threads/the-biggest-benefit-of-adwords.52440
• www.thefastlaneforum.com/community/threads/lead-gen-for-local-service-businesses.61148

Thank you! I know every case is specific, but would you consider this business as a reasonably profitable and worth time and effort?

 

[Andy Black]

Thank you! I know every case is specific, but would you consider this business as a reasonably profitable and worth time and effort?

Something to think about... people are fairly desperate to get their appliance fixed (or replaced). It's also quite low ticket. So the click-to-sale-rate should be high.

More importantly, you're getting paid to get into many many properties over the year. You could be leaving fridge magnets and business cards to generate repeat business and referrals.

You're getting people to know, like, and trust you. When they need an electrician to fit a new shower, who might they call?

My friend covers the City of Dublin, which is a population of 500k, and he's constantly busy.

He also covers County Kildare (population 200k). He knows of lenders in Kildare who have 7,000 Kildare homes on their books to just lend money for appliances.

The appliance repairs is just the front-end of a bigger funnel.

This video should help:

• The most important formula in business

... and you might want to check out the links in my signature too.

 

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[jasonharris]

Sounds good but don't forget a lot of people will possibly be under warranty. So manufactures also need people to go out to inspect and repair new appliances prior to replacing them if they have to.


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[Mcfroggin]

Multiple problems to tease out:
Anyone working after 1700 will want extra pay.
Do you know many people with qualified experience? Will you be hiring all people that need thorough background checks?
Why are other competitors not just hiring more people? Lack of qualified people? Multiple slow seasons? How will you handle warranty issues and people with appliance insurances?

 

[Almantas]

Multiple problems to tease out:
Anyone working after 1700 will want extra pay.
Do you know many people with qualified experience? Will you be hiring all people that need thorough background checks?
Why are other competitors not just hiring more people? Lack of qualified people? Multiple slow seasons? How will you handle warranty issues and people with appliance insurances?

Great points and very important for me, as I have not yet considered some of them myself. Firstly, this is what it would look like:

1) I have many friends that are highly skilled, but are unemployed. Hence, they would be more than willing to use their own transport/tools and work after 5pm without any extra pay. Most of these guys can't speak fluent English and as a result end up usually unemployed. My goal is to use their technical skills to a mutual advantage. Also, most of such guys are degree educated and very hard working. So, by hiring people I know, I can skip running through background checks automatically.

2) To be honest, I did not yet do a thorough market research and competition analysis. But in my opinion, I have an advantage of using friends that will be willing to make sacrifices for my business, whereas competitors (I assume) don't have such an advantage and most 'competitors' have no proper marketing campaign and/or business strategy laid down that results in low amount of orders and no need of more workers.

3) How I will handle warranty issue and appliance insurances is a tricky part and worthy of a lot attention. I have not yet looked into it and will do that today. My current assumption is that there's enough of products that have no warranty or customers want to simply fix their appliance(s) as quickly as possible and are hence willing to ignore their few months of warranty and order a handy man instead.

Thank you for your constructive input.

 

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