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The Koerner Office - Business Ideas, Advice & Deep Dives
How This 23-Year-Old Profits by Renting Out 200 Used Washers and Dryers. Ep. #102
Dec 9, 2024
Kyler Liston, a 23-year-old entrepreneur from Orem, Utah, transformed a $30k investment into Utah Appliance Rental, a booming business renting out washers and dryers. He shares valuable insights into the transition from renting recreational equipment to essential appliances, emphasizing market validation via Facebook Marketplace. Kyler discusses the financial perks of renting versus buying, the importance of customer focus, and the impact of flexible side hustles, all while navigating the ethical responsibilities in the rental industry.
40:39
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Quick takeaways
- Kyler leveraged Facebook Marketplace to validate his appliance rental idea, turning a $30k investment into a near-passive income business with minimal hours spent weekly.
- By focusing on a subscription model and customer communication, he successfully addressed common concerns like theft and service reliability while making renting more convenient than ownership for his clients.
Deep dives
Unconventional Business Start
A young entrepreneur leveraged Facebook Marketplace to test his idea of renting washers and dryers on a month-to-month basis. Upon returning from a cruise, he was surprised by the high demand, leading him to invest $30,000 in washers and dryers. He emphasizes that many potential business owners are deterred by concerns about insurance and contracts, advocating instead for a practical approach, which involves throwing the appliances on a porch and accepting payments via Venmo. This mindset reflects the essence of entrepreneurship: problem-solving and evolving through hands-on experience.
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