Looking for Feedback on a Business Idea.

[EnduranceJB]

I am a partner in a small portion of a company that did specialized advertising for a niche company. I made decent money and will still be involved in the industry. The issue is that my placement in the business is very slow lane.

I decided that I need to go into the fast lane. I want to make money and lot's of it. I decided based on my location and rising water costs that Artificial Grass and landscaping/pondscaping would be a natural fit. My hobby is fish tanks and I built a custom set up. I decided that I will add custom and outdoor fish tanks to the services that I provide. I have the experience to offer these services and people willing to work for me when they are needed. I also have a truck and a trailer to move heavy items. I have the money to fund the start up and the early costs.

The landscaping market in my area is busy but artificial grass is much more expensive than what I sourced. The custom fish tank/pond market in my area has no competition but it will be a very small pool of customers.

I joined the INSIDERS as someone who always read the threads(and MJ's Book) but could never take action on a plan. I am committed to starting a successful business and am willing to do what it takes to make it happen. My question for my fellow INSIDERS is, Is this a good business to enter and any advice you would have. Thank You for your time and advice in advance.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JEdwards]

Not sure how it is fastlane, But the artificial grass seems like a good idea, not sure about the pond, would you do the entire landscaping bit, rocks, plants etc.. or just do grass and ponds?

 

[DaRK9]

The custom fish tank/pond market in my area has no competition but it will be a very small pool of customers

If you can get one rich Dr/Lawyer etc to buy a nice custom tank, more will follow. I knew a guy who did tanks for high end offices. He did 100% custom, cut and shaped Plexiglas and did mill-work, everything.

 

[MJ DeMarco]

FYI: There's a guy with Lambos at the Lambo forum that sells/installs artificial grass. Of course, owning a Lambo is NOT the end-all litmus test for someone's level of success, but it noteworthy.

As for the biz, it might have some scale and time issues in terms of "Fastlane".

The custom fish tank/pond market in my area has no competition but it will be a very small pool of customers.

No competition could also mean no money. If the pool of likely customer's is small (and therefore, excruciatingly difficult to reach) it might not be worth it to offer this part of the service. Guess it all depends on your CPA and your margins on the work.

If you can get one rich Dr/Lawyer etc to buy a nice custom tank, more will follow. I knew a guy who did tanks for high end offices. He did 100% custom, cut and shaped Plexiglas and did mill-work, everything.

Excellent point. Totally fixes the issue I just mentioned above. Rep+

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DaRK9]

Excellent point. Totally fixes the issue I just mentioned above. Rep+

Thanks!

Sometimes people don't realize they want something until they see their peer has it. Especially with the Dr./Lawyer crowd. I know my Dentist bought a Hardley just because his friend did. Doesn't even ride it.

 

[Get Right]

Sure, why not. Come up with a cool prototype design targeting the hotel industry. Get 1 hotel to let you install the enviro-grass/tank/aquaculture system. Then strike a deal with Marriott or Hilton and put it in a couple thousand locations.

Hotels eat up the energy/enviro friendly stuff and also have scale. Hilton I was at this weekend had faux-grass everywhere...but you could make it better!

 

[DaRK9]

Sure, why not. Come up with a cool prototype design targeting the hotel industry. Get 1 hotel to let you install the enviro-grass/tank/aquaculture system. Then strike a deal with Marriott or Hilton and put it in a couple thousand locations.

Hotels eat up the energy/enviro friendly stuff and also have scale. Hilton I was at this weekend had faux-grass everywhere...but you could make it better!

Faux-grass putting courses in hotels?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[EnduranceJB]

Not sure how it is fastlane, But the artificial grass seems like a good idea, not sure about the pond, would you do the entire landscaping bit, rocks, plants etc.. or just do grass and ponds?

I plan to offer the entire landscaping deal. But I will outsource everything that isn't mentioned above. I agree this isn't normal Fast lane but my plan is to build the business and after I get it successful either sell or have someone else run it.
I am already leaning on a chain of Tanning salons after this deal.

 

[EnduranceJB]

Awesome reply's from everyone. Awesome having Jack respond as his thread is was pulled me into the fourm . I read the book after and awhile later I am here. So awesome work on that MJ.

@DaRK9-I agree and am advertising with the Chamber and with your suggestion might also do a small ad with BAR association.

@Getright- Great idea on hotels. I am thinking of targeting people who live in HOA's.

I am better at Brick and Mirror as I consider it like movie theater popcorn. Less competition and higher prices compared to online resale and I struggle with product design.

 

[teabag]

The custom fish tank/pond market in my area has no competition but it will be a very small pool of customers.

"small pool of customers" hehe.

Anyway, how do you know there is a market in your area for Fish tanks/ponds? I'm guessing that if these are custom built they will cost a bit of money.

But why not cater to all levels of income? Would you offer selling simple fish tank/pond set ups? Maybe even DIY kits to get someone started. I know as a kid one of the greatest things I enjoyed was 'Sea Monkeys'. My parents wouldn't let me have a pet because, well... they didn't trust me at age 6-8 to look after an animal. The alternative was Sea Monkeys, artificial life forms that you had to feed and look after.

You also could customise the small tanks for it, which is where the money was. I remember spending all night fixing the tank up making it look pretty. I was lucky as a child that my parents bought me the customs accessories to 'pimp' my tank.



Just some ideas, good luck.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[randomnumber314]

I run a company in a similar industry. It's going to be very difficult to sell the company...most owners are intrinsic to operations. If you take time and scale out well, and have managers/foremen that make your job purely a figurehead leader, you could potentially sell. Other than that most service companies I've seen sell for value of equipment +1-1.5x annual owner's net.

That being said, go make some $$ now and learn some stuff, you'll more than likely find 100 fastlane ideas inside a year.