Chris Koerner, a savvy business partner, shares his insights on explosive opportunities in the booming Med Spa industry, particularly appealing to millennials. He suggests innovative strategies for integrating Med Spas with golf courses and other membership-based venues. The duo also explores the potential of sauna and cold plunge businesses within gyms while assessing market trends. Additionally, they discuss leveraging AI for market research, highlighting tools like OpenAI’s new offerings, which could transform how entrepreneurs identify business opportunities.
51:38
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
question_answer ANECDOTE
Raising Cane's Anecdote
Chris Koerner wore his "55 Burgers, 55 Fries" shirt to Raising Cane's.
He ordered a large catering order, unintentionally mirroring the shirt's joke.
insights INSIGHT
Med Spa Growth
Med spas are experiencing rapid growth, exceeding the average U.S. economy growth rate.
This presents an opportunity for entrepreneurs, especially considering the high margins.
volunteer_activism ADVICE
Med Spa Piggybacking
Consider establishing med spas near existing membership-based businesses like golf courses or gyms.
This "piggybacking" strategy targets an existing customer base.
Get the Snipd Podcast app to discover more snips from this episode
Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy) as we explore different cool business ideas: Med Spas and Golf Courses and AI Agents. We kick things off with a lighthearted story about a raisin cane's visit and a "Think You Should Leave" t-shirt. Then, we dive into the booming Med Spa market, driven by millennials obsessed with health and aging. We discuss the potential of integrating Med Spas with golf courses and other membership-based businesses, like tennis clubs. Chris shares an idea about a sauna/cold plunge business inside a gym or country club. We then shift gears to AI agents, discussing how to leverage them for market research and opportunity identification, including how to find and extract insights from interviews. We wrap up with a review of OpenAI’s new tools, GPT Operator and Deep Research, weighing their pros and cons for business applications.
Questions This Episode Answers:
What makes Med Spas such a rapidly growing market, and how can entrepreneurs capitalize on this trend?
How can businesses piggyback on existing establishments like golf courses or gyms to gain a competitive edge and increase revenue?
Are cold plunges and saunas an oversaturated market, or is there still room for growth?
How can AI be leveraged to identify ideal business locations and understand market dynamics?
What are the key advantages and disadvantages of using OpenAI’s GPT Operator and Deep Research for business research and analysis?
Share your ideas with us:
Nik@cofounders.com
Chris@cofounders.com
Enjoy the conversation! __________________________
Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________
00:00 Highlights 00:33 Family Outing at Raisin Cane's 01:07 The Iconic '55 Burgers' Shirt 03:11 Med Spas and Their Growing Popularity 04:50 Med Spas in Golf Courses: A New Trend? 06:25 Revenue Models and Business Strategies 10:57 Cold Plunge and Sauna Business Ideas 16:50 Leveraging AI for Business Success 24:13 Practical Tips for Entrepreneurs 27:27 Unveiling Deep Research Capabilities 28:49 Exploring Chris Crone's Profile with Deep Research 29:59 Deep Research: Asking the Right Questions 31:19 Maximizing Deep Research on a Budget 33:05 Introducing GPT Operator and Deep Research 34:43 Impact on Industry Reports and Market Analysis 37:14 Challenges and Limitations of GPT Operator 40:27 The Future of AI and Self-Driving Technology 45:04 Deep Research: Pros and Cons 48:24 Practical Applications and Early Adoption
Nikonomics - The Economics of Small Business