The Most Hands-Off $6K/Month Side Hustle to Start - Ep. #330

Chris Koerner (0:00)

What is your revenue per month on average?

Nathan (0:02)

5,500 to 7,500.

Chris Koerner (0:03)

That's beautiful. And you still have a full-time job?

Nathan (0:06)

Still have a full-time job, yep. Very minimal work on my end.

Chris Koerner (0:10)

How much total time do you spend on the business?

Nathan (0:13)

Two to four hours.

Chris Koerner (0:14)

So you're making 200 plus an hour on this business?

Nathan (0:18)

It's pretty risk-free. There is not a whole lot that can go wrong.

Chris Koerner (0:23)

Can you get financing on these?

Nathan (0:25)

Absolutely.

Chris Koerner (0:29)

What if I told you there's a business with very little risk? So in about five minutes, a guy named Nathan is going to walk through that door and he's flying here from Lancaster, Pennsylvania and he makes thousands of dollars a month in profit working five hours a week doing trailer rentals. Thirty-one years old, he has a full-time job and two kids, and his business is almost 100 percent automated. Very low risk to start, low cost to start. You can find out if there's demand before you have to launch.

There's just a lot to love about the trailer rental business. So I flew Nathan here so we can learn all about it. Let's go. All right. So how long have you had the auction job?

Nathan (1:04)

Coming up on seven years now.

Chris Koerner (1:05)

Okay. And how long have you been doing the trailer rental business?

Nathan (1:08)

Fifteen months now, same age as my daughter. So we started that like two days after she was born, technically.

Chris Koerner (1:15)

What first gave you the idea to start this?

Nathan (1:17)

I have an issue like most young men my age of scrolling Facebook Marketplace and saw a guy listing a trailer rental business for sale locally.

Chris Koerner (1:31)

On Facebook Marketplace?

Nathan (1:32)

On Facebook. Yep.

And I realized I'd rented in the past a boat from him, randomly a couple years before. So, just reached out, he was selling 10 trailers, and then his book of business for the last couple of years, as he was moving a couple of hours west of Pennsylvania, just wanted to size down.

Chris Koerner (1:51)

Now, in a business like that, how much can you actually sell your book of business versus he's just selling the assets?

Nathan (1:56)

That's a great question, and I think it depends how much information you have on those customers. And he didn't have any email addresses, it was just a home address and a landline or cell phone. So obviously, immediately looking in, you realize it's fairly antiquated.

Chris Koerner (2:13)

Yeah. He's selling his trailers.

Nathan (2:15)

Yeah.

Chris Koerner (2:16)

With maybe a little bit of goodwill. Yeah.

Nathan (2:18)

So yeah, I eventually, I was the only one that was really serious about making an offer on it. So I kind of negotiated to just buy the trailers for what he was saying they were valued at, which was 35,000.

Chris Koerner (2:31)

For 10 trailers.

Nathan (2:32)

Yeah. They were older used trailers, heavily used.

Chris Koerner (2:36)

Are we talking like dump trailers, flatbeds, box trailers?

Nathan (2:41)

A good mix of everything. That was his goal was to try and provide a little broad range of trailers. So there were five enclosed trailers, several open trailers, utility and equipment trailer. The only thing that out of that list you mentioned that wasn't in there was a dump trailer.

Chris Koerner (2:59)

Okay. This is Lancaster, Pennsylvania.

Nathan (3:01)

Yes.

Chris Koerner (3:02)

How many people live there?

Nathan (3:03)

In the county, it's 500,000.

Chris Koerner (3:06)

Okay.

Nathan (3:06)

I don't know exactly in the town, but it's a mid-sized town. It's nothing like Philly or here.

Chris Koerner (3:13)

How was he finding customers?

Nathan (3:14)

The old school way. Well, I mean, he did have a website, just a WordPress website with a lot of characters on it and backlinks. So he ranked in the area if you search for trailer rentals, but that was really how he was finding it.

Chris Koerner (3:28)

Just having people call him. Google Business Profile? Yeah. Good reviews?

Nathan (3:32)

Mixed. Okay. Yeah.

Chris Koerner (3:34)

I mean, he's unsophisticated, it sounds like. He doesn't have like a CRM, Customer Relationship Management Software, or did he?

Nathan (3:40)

I mean, you might say he did, but it wasn't sophisticated in anything other than he could type in somebody's name and see if they were in there previously. There wasn't anything automated that you could hook up to reach.

Chris Koerner (3:55)

Okay, so he had a website, Google Business Profile. Did he have a lot of reviews or a lot of pictures?