The Koerner Office - Business Ideas and Small Business Deep Dives with Entrepreneurs

How to Start this $337k/Yr Service Business You’ve Never Heard Of⏐Ep. #139

Mar 5, 2025

Marc Gaskins, owner of Event Kitchens, shares insights from his thriving rental business focused on catering equipment in Charleston. He discusses how a fire led to community support and pivotal business growth. Marc delves into the unit economics of renting convection ovens, emphasizing strategic pricing and niche focus. He highlights the advantages of organic growth and shares a unique real estate strategy for expanding his operations. This conversation is packed with actionable insights for anyone looking to start their own service business!

30:42

Episode guests

Marc Gaskins

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Identifying a niche market and leveraging community support can transform challenges into opportunities for business growth.

Prioritizing patient, methodical scaling over rapid expansion ensures sustainability and competitive advantage in the long run.

Deep dives

Identifying and Seizing Opportunities

Discovering a business opportunity in a niche market can be highly rewarding when approached with patience and strategic planning. For example, an entrepreneur leveraged an existing bar service into a successful kitchen rental business after observing shortcomings in local catering equipment. By initially investing around $10,000 in essential kitchen equipment like convection ovens and fryers, he set the groundwork for a sustainable business model. This highlights how entrepreneurial insight, combined with addressing market demands, can lead to significant financial success.

Intro

2min

Rising from Ashes: The Business Journey

7min

Unit Economics of Rental Catering Equipment

11min

Strategies for Organic Growth and Niche Opportunities

6min

Navigating the Dynamics of Service Business

9min

Exploring Business Margins and the Journey to Profitability

2min

I sat down with Marc Gaskins (https://x.com/OvenPusher) of Event Kitchens to discuss his $337k/year event rental business in Charleston, South Carolina. Marc noticed caterers needed quality equipment and turned that opportunity into a thriving business. We explored how a bar fire led to community support, becoming a turning point. We also discussed the value of patient growth versus rapid scaling. Marc explained the unit economics of renting convection ovens, the benefits of a niche focus on caterers, and his warehouse hacking real estate strategy. He also shared why he's relied on organic growth and his future interests. This episode offers actionable insights for starting an event rental business.

Timestamps below. Enjoy!
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00:00 Highlights
00:34 The Beginning of Squeeze Bar
01:18 First Equipment Purchases
02:18 The Bar Burns Down
02:42 Community Support and Business Growth
04:44 Competitor Exits the Market
06:17 Slow and Steady Growth
08:38 Unit Economics of Rental Items
17:31 Equipment Insights and Investment Strategies
18:21 Expanding Beyond Charleston
19:22 Organic Marketing and Customer Relationships
20:47 Catering to Caterers: Business Operations
22:03 Scaling and Maintenance Opportunities
24:11 Exploring New Business Ideas
25:58 Starting Fresh in a New Market
29:05 Challenges and Rewards of the Business
30:45 Team and Facilities Overview
34:24 Financials and Final Thoughts

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