Nikonomics - The Economics of Small Business

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨In this episode of Nikonomics, we dive into the world of custom cabinetry with Alex Forbes, the owner of Lane 17 Cabinet Company; a U.S.-based cabinet manufacturer based in Cleveland, Ohio.Join me, Nik (https://x.com/CoFoundersNik), as Alex shares his entrepreneurial journey from starting the business in his garage to scaling it to handle high-end residential projects. He discusses the challenges and rewards of manufacturing domestically, the intricacies of managing cash flow, and the strategic decisions that have fueled his company’s growth.For anyone interested in the manufacturing industry or entrepreneurship, this episode is packed with valuable insights and real-life experiences. Stick around to hear Alex’s thoughts on the importance of continuous improvement, the challenges of cash conversion cycles, and his advice for aspiring business owners.If you enjoyed this episode, please like and subscribe. You can follow Alex on 𝕏 at https://x.com/alexforbes__.00:45 The Unique Approach of Lane 17 Cabinet Company01:31 Alex's Journey: From Humble Beginnings to Success05:06 The Decision to Manufacture Domestically07:04 Scaling and Future Plans for Lane 1711:46 Economic Considerations and Business Models19:08 Customer Acquisition and Marketing Strategies20:28 The Power of Word-of-Mouth in Home Renovation21:34 Challenges of Scaling a Custom Manufacturing Business23:50 Financials: Average Ticket Price and Margins24:25 Navigating Cash Flow and Payment Cycles27:24 Rapid Fire Questions and Business Insights31:09 Understanding the Cash Conversion Cycle___________________________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.___________________________

Logan Robinson, an entrepreneur who scaled a $25k/month Airbnb cleaning business, shares insights on customer acquisition, growth strategies, and maintaining high standards. He discusses his pivot from residential to Airbnb cleaning, personal motivations, and managing growth. The episode provides practical advice for building a cleaning business, offering a genuine look at the challenges faced in entrepreneurship.

Brian Seeling, owner of a commercial kitchen appliance repair company, shares insights on financing, due diligence, and negotiation in purchasing a business. The episode covers challenges in deal closing, navigating bank delays, bringing on investors, and scaling the business. It offers real-life experiences and practical advice for aspiring entrepreneurs.

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me as I sit down with Bodhi Gallo, otherwise known as the "Dumpster Rental Guy" on Twitter. Bodhi is a young, ambitious entrepreneur who has taken the world of dumpster rental by storm. From his college days trading stocks and building a financial blog, to his current success in the dumpster rental business, Bodie's journey is filled with hard work, smart decisions, and a bit of luck.In this episode, you'll learn everything about owning and operating a dumpster rental business, including the startup costs, profit margins, and the importance of building strong relationships. Bodie shares his experiences of buying an existing business, leveraging SEO and social media for growth, and navigating the challenges of accounts receivable.Whether you're interested in the home services industry or just love hearing about entrepreneurial journeys, this episode offers a wealth of insights. Stick around to the end to hear Bodie's tips on acquiring customers for free and the importance of believing in yourself.If you enjoyed this episode, please like and subscribe. You can follow Bodie on 𝕏 at https://x.com/irentdumpsters.___________________________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.___________________________01:25 Understanding the Dumpster Rental Business02:28 Bodhi's Entrepreneurial Journey05:03 From College Hustler to Business Owner07:01 The Power of Mentorship and Networking10:41 Launching the Dumpster Rental Business16:25 The Advantage of Buying an Existing Business21:51 Building Connections and Capitalizing on Opportunities23:49 The Advantage of Youth in Business24:24 Early Struggles and Financial Sacrifices24:54 Challenges of Competing with Established Contractors26:54 Customer Acquisition and Marketing Strategies27:33 Understanding the Economics of the Dumpster Business38:08 Rapid Fire Questions and Personal Insights41:50 Final Thoughts and Encouragement

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Neel Parekh (https://x.com/SMBNeelParekh), the founder and CEO of Maid This, a fully remote cleaning franchise company. From his beginnings in private equity to hiking to the Everest Base Camp, Neel's journey is nothing short of remarkable. He transitioned from tech investing to launching a cleaning business that has now grown to over 25 locations nationwide. Neel's Los Angeles operation alone generates $1.3 million in revenue with impressive margins, thanks to his innovative use of technology and automation.This episode is packed with insights into scaling a service-based business, the intricacies of franchising, and maintaining a work-life balance. Neel’s adventurous spirit and dedication to creating a business that supports his lifestyle are truly inspiring.___________________________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.___________________________00:36 Meet Neil Parekh: Everest Adventurer and Entrepreneur01:26 Journey to Everest Base Camp05:55 From Everest to Entrepreneurship07:11 The Birth of Maid This Cleaning Company09:11 Scaling the Business and Franchising11:42 Customer Acquisition Strategies17:41 Residential vs. Airbnb Cleaning Markets18:36 Customer Acquisition Costs20:34 Franchise Growth and Strategy25:44 Valuation and Startup Costs28:23 Franchise Support and Long-Term Vision31:00 Rapid Fire Questions and Final Thoughts

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Jackie Hirsch (https://x.com/SMBJackieHirsch) the owner and founder of Crown Atlantic Business Brokers. From an ad in the paper she has become a prolific broker managing over 400 transactions. Jackie's portfolio, career and experience is nothing short of impressive. This episode is full of insights into the intricacies of business brokerage, balancing that with family life and raising her daughter all whilst being a woman in a male dominated industry. Jackie is impressive and I am sure you will agree.  ___________________________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.___________________________This week we covered:00:21 Welcome to Nikonomics with Jackie Hirsch01:57 Jackie's Journey into Business Brokerage05:26 Balancing Business and Family Life08:57 Teaching Financial Literacy to Kids14:45 Memorable Business Deals and Experiences17:02 Identifying Red Flags in Business Deals20:47 Navigating Buy-Side and Sell-Side Brokering26:17 Personal Reflections and Career Choices29:12 Rapid Fire Questions and Insights33:11 Final Thoughts on Brokering and Business

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Aaron Harper (https://x.com/AaronHarperCEO) the CEO of Rolling Suds, a national franchise of pressure washing companies. We discuss the economics of a franchising business, including territory size, initial capital investment, potential earnings, and what makes an ideal franchisee. ___________________________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.___________________________This week we covered:00:26 Meet Aaron Harper: Franchise Expert02:57 Rolling Suds: The Power Washing Franchise05:20 The Franchise Model Explained07:35 Rolling Suds' Unique Equipment and Business Model15:29 Franchisee Profiles and Marketing Strategies18:44 Building a Billion Dollar Company21:41 The Franchisee's Perspective25:17 Challenges of Delegation30:10 Responsible Franchising33:12 Final Thoughts on FranchisingIf you liked this, please like, share and subscribe!If you want to ask a question on the show OR be on the show please fill out this form: https://tinyurl.com/yx89yr65

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I interview Clint Murphy (https://x.com/Iamclintmurphy), a high-profile influencer and CPA turned home builder. Clint shares his incredible journey from working at KPMG to becoming a CFO at a top real estate developer in Western Canada, and now stepping out on his own as an entrepreneur in home building.Discover why Clint chose home building, dive into the economic dynamics of residential real estate development, and learn about the regulatory and capital challenges involved. We also explore the business model of home building, the gearing of capital structures, and Clint's future goals for his new venture. The episode wraps up with Clint discussing his passion for copywriting and the crucial role of building investor trust through effective communication.___________________________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.___________________________ Don’t forget to like, comment, and subscribe for more! Any questions, comment below. This week we covered:01:45 Clint's Journey into Home Building06:58 The Challenges of Real Estate Development10:54 Navigating Capital and Partnerships18:35 Scaling Up: Project Sizes and Revenue20:04 Understanding Real Estate Sales and Closings20:43 Deposits and Financing Strategies25:26 Sales Process and Marketing Tactics29:29 Financial Engineering and Profit Margins33:05 Goals and Future Plans34:56 Rapid Fire Questions and Closing ThoughtsIf you liked this, please like and subscribe!If you want to ask a question on the show OR be on the show please fill out this form: https://tinyurl.com/yx89yr65

Colin Rutherford, founder of Green Box Storage, shares how a viral tweet sparked his success. Topics include: business model, COVID-19 impact, team structure, marketing strategies, startup costs, scaling, and more. Learn about his unique business journey and rapid growth!

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨How do influencers turn their content into big bucks? Join me, Nik  (https://x.com/CoFoundersNik)  as I sit down with Trenton Hughes (https://x.com/trentjhughes), the brains behind Station Entertainment, to uncover the secrets of influencer marketing.  I learn how his agency managed over 100 influencers and helped them earn thousands of dollars per video. Discover his formula for success in the digital creator world and the business strategies that drive multi-million dollar revenues. Whether you're an aspiring influencer or just curious about the business side of YouTube, this episode is packed full with insights! If you have any questions, comment below.___________________________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.___________________________This week we covered:00:23 Meet Trenton Hughes: The Influencer Agent03:56 Influencer Marketing Strategies09:57 Compensation Models for Influencers12:11 Sponsorship Deals and Revenue17:58 The Evolution of Content Creators19:27 Affiliate Marketing Insights25:20 Transitioning from YouTube to Twitter26:24 Rapid Fire Questions32:02 Advice for Aspiring EntrepreneursIf you liked this, please like and subscribe!If you want to ask a question on the show OR be on the show please fill out this form: https://tinyurl.com/yx89yr65