Nikonomics - The Economics of Small Business

99 - How To Start A Business With No Money: College Tuition Negotiation, Local Concierge & More with Chris Koerner

Dec 20, 2024

Join business guru Chris Koerner, who has successfully generated over $100 million in various ventures. He shares fascinating insights on negotiating college tuition to help families save money while creating profitable services. The conversation also sparks the idea of a local concierge service designed for parents of college students, ensuring peace of mind. Plus, they explore innovative ways to turn dead inventory into cash flow, making this a treasure trove of unique business opportunities for aspiring entrepreneurs.

33:47

Episode guests

Chris Koerner

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Episode notes

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Quick takeaways

Negotiating college tuition can turn into a profitable business service by aligning payment with the financial savings achieved for families.

A local concierge service catering to parents of college students can provide valuable support and peace of mind, creating ongoing revenue opportunities.

Deep dives

Negotiating College Tuition

Many families are unaware that college tuition is negotiable, with estimates suggesting that only about 4% of students attempt to negotiate their tuition rates. This lack of awareness presents an opportunity to offer negotiation as a service where families pay nothing upfront and only a percentage of the savings achieved. Establishing relationships with admissions offices could serve as a foundation for successful negotiations, especially around critical times like application deadlines when universities are keen on filling their spots. As tuition rates continue to rise amid declining enrollment, there may be more wiggle room for negotiations, particularly for students who express genuine interest in their schools while also indicating budget constraints.

Intro

2min

Negotiating Costs in Education and Healthcare

6min

Strategies for College Tuition Negotiation and Business Insights

3min

Negotiation and Innovation in Business

14min

Navigating College Concerns

5min

Budget Business Innovations

5min

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨

Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we dive into another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every week we get together to brainstorm new business ideas and share insights into our businesses.

In this episode, we explore college tuition negotiation and how to offer it as a service to save thousands for families and build a profitable business. Next, we talk about the idea of a local concierge service, catering to parents of college students, especially at SEC schools. It’s like an insurance policy for peace of mind. Finally, we discuss creative solutions for dead inventory, transforming surplus stock into revenue-generating opportunities.

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How can you turn college tuition negotiation into a profitable service that solves a major financial pain point for families?
What makes the "Dean's List" local concierge service a unique business opportunity for targeting parents of college students?
What are the best strategies for turning dead inventory into a thriving revenue stream?
Why are niche services like these great opportunities for first-time business owners?

Enjoy the conversation!
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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.
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This week we covered:

00:00 Highlights
00:35 Introduction: The Untapped Potential of Negotiating College Tuition
01:33 Exploring the Concept: Why Isn't Tuition Negotiation More Popular?
03:14 The Business Opportunity: Tuition Negotiation as a Service
05:28 Strategies for Negotiating Tuition
11:12 Case Study: A Friend's Apparel Business Venture
17:45 Creative Ideas for T-Shirt Designs
19:00 The Success Story of 'God is Dope'
20:17 Marketing Strategies for T-Shirt Brands
23:59 The University Concierge Service Idea
30:20 Evaluating Business Ideas: Marry, Date, or Kill
33:46 Conclusion and Final Thoughts

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