The Koerner Office - Business Ideas, Advice & Deep Dives

Deep Dive: Making $80k in One Day with a Fireworks Stand. Ep. #97

Nov 27, 2024

In this conversation, Daniel Astleford, a CPA and owner of a Texas fireworks business, reveals how he earned $80,000 in just one day. He discusses balancing a remote CPA firm with a seasonal venture, detailing the challenges of zoning laws and navigating silent partnerships. Daniel shares his journey of acquiring the fireworks company, highlighting strategic decision-making and risk management. Discover the complexities of establishing a profitable fireworks stand, including logistical hurdles and competition in the industry.

49:07

Episode guests

Daniel Astleford

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Daniel leveraged his CPA expertise to analyze the financials of a fireworks business, revealing the potential for significant seasonal revenue generation.

The unique challenges of scaling a seasonal business highlighted the need for strategic location selection, particularly in navigating zoning laws and competition.

Innovative marketing strategies and adaptability were crucial for maintaining profitability and growth in a competitive fireworks market.

Deep dives

Acquisition of a Firework Business

A CPA shared his journey of acquiring a firework company while simultaneously building his remote CPA firm. Initially approached by a client about buying two firework stands, he was intrigued but thought it was unattainable due to financial constraints and loyalty to his employer. However, after changing jobs, he reached out to the client and expressed his interest, leading to a meeting where he learned the asking price was $150,000. This straightforward negotiation set the stage for an exciting venture into the firework business, leveraging his accounting background to assess the potential profitability.

Intro

2min

The Journey to Acquiring a Fireworks Stand

4min

Reflections on Early Entrepreneurship and Risk Management

2min

Igniting Business Opportunities

6min

Setting Up a Seasonal Fireworks Stand

3min

Navigating the Fireworks Business Landscape

17min

Igniting Success: The Fireworks Stand Venture

16min

I sat down with Daniel Astleford, a CPA and the owner of a unique fireworks business. In this episode, Daniel shares how he manages both a remote CPA firm and a fireworks stand business in Texas. We discuss the unexpected opportunities and the hurdles that come with acquiring and scaling seasonal businesses, the challenges of working with silent partners, and the ins and outs of running a fireworks business legally.

Links and Actions:

Learn more about Daniel's Fireworks Business: https://bigarrowfireworks.com
Connect with Daniel on LinkedIn: https://linkedin.com/in/daniel-astleford

Timestamps below. Enjoy!
---
Watch this on YouTube instead here: tkopod.co/p-yt
Ask me a question on or off the show here: http://tkopod.co/p-ask
Learn more about me: http://tkopod.co/p-cjk
Learn about my company: http://tkopod.co/p-cof
Follow me on Twitter here: http://tkopod.co/p-x
Free weekly business ideas newsletter: http://tkopod.co/p-nl
Share this podcast: http://tkopod.co/p-all
Scrape small business data: http://tkopod.co/p-os
---
00:00 Highlights_Introduction to the Fireworks Business Journey
02:49 Building a Remote CPA Firm and Fireworks Side Hustle
06:09 The Decision to Buy a Fireworks Company
09:05 Understanding the Financials and Revenue Potential
11:50 Navigating the Challenges of Location and Zoning Laws
15:11 The Impact of Seasonal Sales and Location Changes
18:05 Lessons Learned from the First Year of Operations
24:46 Scaling the Fireworks Business
30:08 Navigating Competition and Location Challenges
36:55 Operational Success and Future Goals
40:45 Marketing Strategies and Customer Engagement

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more