Is this the Business You Need to Start in 2024?

Many people on TikTok have the “best” side hustle idea, and this video Matt reacts to is no exception. This one is just a little bit different than others out there on the internet.

There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this new series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!

Video Transcript: 

Business Advice Video:

If you’re looking for the best business to start in 2024, maybe you hate your job, maybe you want to quit your job. You’re looking for a side hustle or a new full-time gig. I am standing in the middle of what I’ve been doing for the last three years. That absolutely prints me money with working less than 30 hours a week, way over $100,000 of income. Let me show you what I do so you can do it in your town. This looks like a normal mattress store, but it’s not. I sell brand-new mattresses by appointment only. I buy these things wholesale right here in the United States. I play simple ads online. I set up times to meet people by appointment. Each appointment takes about 20 minutes. On average, I make several 100 dollars or more every single time it happens. Which means if you can book like seven appointments in an afternoon, five of them show up, four buy at a few $100 a piece. You can easily make 1000 or two in a simple afternoon. I’ve helped over 180 dealers set up all over the country. I’ll show you how to do it in your town.

Matt’s Reaction:

All right, that’s a new one. Selling mattresses out of leased space. Yes, I mean, legitimately, that’s a business you could start. There’s no shortage of people that need new mattresses and they’re looking for a deal. What it takes to get started is you’ve got to be able to lease a space or find a space you can use. You’ve got to be able to front the money to buy, I would imagine, at least 15 or 20 mattresses so you can show people a, selection, and then you’ve got to be able to get people into that location. And yes, you could set appointments, or do it appointment only I guess, if you didn’t want to. I mean, you’re going to be there anyway, so why not have people be able to walk in? But whatever. Whether or not you can really get five people to show up if you set seven appointments, I’d be a little skeptical of that because generally, people no-show a lot more often than they show. Buying a mattress is really an urgent kind of thing that they are definitely going to make the appointment for. Do four out of five buy of the ones that come, probably if you’re selling at a low price, and by the time somebody’s driven all the way to the mattress store, they generally don’t want to go home empty-handed. So they’ll probably be able to make a deal with them as long as your price is reasonable and whatever you got them into the store with wasn’t a complete bait-and-switch. So, yeah, I mean, that seems like a reasonable business. You’re going to be competing with all the other places that sell mattresses, and there’s no shortage of those. So you’re trying to get a little slice of the pie that you know all the other people are also competing for. So you may end up having to compete on price because you’re a no-name person selling out of a random lease space. So it’s going to be a little hard to command a premium on that. But, yes, if you can do the volume and your town’s big enough and your ads are good enough and your prices are right, absolutely. Probably start a business like this with $10,000 or $15,000, maybe even less. And, if you can bring enough people into the store, you could certainly end up making $100,000 a year or more. Not a bad concept as far as straightforward, simple businesses go. So that’s what you’re thinking about doing, I say that might be worth a try.