I Let Strangers Pitch Me Their Business Live Transcript, AI Summary & Key Points

00:00 We did 750 sessions a month. So revenue is 68,000. >> 68,000 a month a year. >> A month. >> Okay. I am in so hard on this. >> I don't know anything about healthcare or veterans. And for that reason, I'm out. Just kidding. I've just always wanted to say that in a real setting. >> I bring nothing to the table, but I would be 100% in. Take my money. I just want to give you five grand for none of your business just to help you grow your business and then 20 grand to help spread awareness.

00:27 I honestly don't know if I had enough gas money to get back to Canada tomorrow. So, like that really means a lot and thank you. >> This summer, I rented a studio, put 400 people in it, and told 10 strangers to pitch me their business for real money. They had 2 minutes to pitch and 10 minutes for me, Nick, and Brandon to tear it apart. One guy is already doing 68 grand a month.

00:45 Another dude drove down from Canada with a 3D printed keychain and no ask. And another guy pitched a cup for sunflower seeds and the whole room lost it. We invested in three of them. The audience picked a winner at the end. Let's go. >> We are going to bring up our first pitch here. We have Aean Harden with the Utah Veterans Massage. >> All right. So, my company is Utah Veterans Massage.

01:10 About 3 years ago, I've started a lot of different businesses. None of them have been super successful. Doing so many different things, digging trampoline holes, things like that. Had some success, but learned a lot of lessons along the way. Three years ago, I was doing construction remodeling and had been working it for a long time, getting super burned out, having a hard time going to work.

01:28 And one night, uh was just sitting down like rubbing my shoulders. I was like, "Oh, you know what? I got to switch this up." And so I had the thought I could be a massage therapist. So did a super accelerated program 4 months and then I became a licensed massage therapist and started working with the first place I worked was a medical massage company.

01:48 started working with veterans and it was so rewarding to be able to check in with a veteran like each week and and their pain going down and down in a wheelchair and then him saying this is the first time in 15 years I haven't felt pain. a bunch of stories like that. Very motivating to be working with this population. Now, as an entrepreneur, of course, I'm observing the place I'm working.

02:09 This uh niche with veterans, it's really interesting because they get 12 free sessions. They don't have to pay a dime for it. So, it's um and it also pays $90 per session, which as a brand new massage therapist is huge. So, I started my own company. It took me like eight months to figure out the how to get in the network with with the the veterans. And so 18 months ago, rented a a room for a day a week and then just built over time.

02:32 12 months ago, I was doing 70 sessions a month. We have seven locations now and we did 750 sessions a month. So revenue is 68,000 and 20,000 of that about is profit. So it's been a a really amazing niche. My goal is to expand to 40 other states. >> 68,000 a month. A year. >> A month. >> A month. Okay. So up 10x year over year. >> Yeah. >> Okay. What are you looking for here?

02:54 I'm looking for 100,000 for a 5% uh equity stake and also a partner who's taken a healthcare business multi-state ideally. >> Never heard of her. Are you a veteran? >> I'm not. >> Okay. So, you've got how many locations? >> Seven locations and three that independent contractor therapists own that we send clients to them. >> And when you say locations, do you have leases that you sign or are these independent contractors who are going to homes?

03:18 >> That's nothing over a year lease. We do have leases. They're small buildings, one and two room locations. Most of them are about 500 a month, 650 a month. Is this a place people come to or are you going to their home? >> They come they come to our office. >> That's good. How are you scheduling? Who's actually putting that stuff together? >> We train our therapists to just rebook the clients after.

03:33 We have a really awesome scheduling software. >> The therapists themselves are actually do not only doing the work, but they're doing all the admin work on the back end as well. >> No, they don't do any admin work. We do all the billing, all the insurance back end. They just show up. It all they say is you want to rebook for the same time next week.

03:46 Put it in the software. That way my wife who's the scheduler and our other scheduler don't have to do it. >> What are you going to do with 100 grand? expand faster into these other states and hire an operations manager because there's a lot of little day-to-day things that are taking my attention right now. >> Remind me again. So, it was $100,000 for >> 5% equity.

04:02 >> 5% equity. This is Shark Tank. >> Yeah. >> Oh my god. >> That's what they say on there, right? >> For those of you who don't know, Nick actually has lots of experience in scaling healthcare to multi-state. So, >> so my experience is home health, hospice, home care. I also had a medical billing and practice management company and I've owned and operated multiple locations of those businesses.

04:21 The businesses that I owned, we only ever got up to about $20 million in revenue, but multiple states. The businesses that I've managed have done $100 million plus a year. So, very familiar with this space. Are you thinking of going private pay or is are you getting credential with is it the VA who's paying for these 12 sessions? >> Yeah, the VA through Tri West.

04:40 So, it's an insurance 100%. >> So, you're in with them in Utah. It's really really hard to to like scale. 68,000 is it's like awesome for what you're doing right now in Utah, but if you want to go multi-state, there's a big lag between launching in those states and actually getting credentialed and then being able to take paying clients. And they may be different business formats, right?

05:01 Like here in the state of Utah, it might be that Tri West says, "You've got 12 visits totally paid for by us. You're good. No pre-authorization needed." But Nevada might be different in Idaho and Washington and California. Like every state's going to be different. So, do you have a plan to actually get into each one of those states or is this just like I want 100 grand, I'm going to hire an ops manager and then we're going to figure it out.

05:19 Do you actually have a plan behind that or is it I need this money to be able to hire somebody who can help me figure that out? >> More the second. Yeah. So, the way that I've worked is like grow, expand and then figure it out, right? Things get more challenging, things come up. The the next step is to go into one state, Arizona. There's a huge demand there.

05:32 As far as the credentiing, it is the same. Licensing is a little bit different in each state and you have to hire independent contractor therapists in each state, but the credentiing is the same. Same process which I've automated with AI. It took me like eight months to do this. I can take someone through it in about 25 minutes with the automated systems.

05:50 >> I don't know anything about healthcare or veterans. And for that reason, I'm out. Just kidding. I've just always wanted to say that in a real setting. I'm still in. I love massages. That's why I'm still in. >> There's free massages in this for whoever invests, by the way. lifetime. >> How are you getting your customers currently? >> So, we haven't spent a single dollar on marketing.

06:10 The reason we have so many small office locations instead of one central is the VA will call us based on the geographic proximity to the veteran and so we have a lot of little ones. So, we get a a large volume of clients that way. >> Would marketing work for something this specific or is it always going to be through the VA? So, one one vertical we can go into is medical and deep tissue massage, which is a rare thing.

06:33 There's mostly spa massage. So, we could market for that. Use the same office location, same therapist. It's it's just a little bit different vertical. We're focused on this at the moment. >> And where are your seven locations right now? >> We got one in Oram. We have one in West Jordan. We have one in like Murray, Salt Lake area, South Ogden, Central Ogden.

06:54 We just opened one in Logan and we got one coming in Sandy. Kane, you said 68k a month, 20k profit. How much of that profit is like fixed versus variable? Obviously, the more massages you're doing, the more therapists you need, but how much you know what I'm saying? >> Yeah, it's we're we've been growing pretty fast. So, generally, we paid the therapist $50, which is a pretty good amount on especially for medical massage.

07:18 Our revenue is about 30 to 35%. Um, as we expand locations, we get a little bit more percentage. So you collect 90, you pay them 50. Then you have 40 to play with. And then you got some cost though. >> 39 plays. >> Yeah. Yeah. Is it always going to be 90? Is it 90 in every state? >> No. So Texas it's like 109 or more than that. Uh different states. California it's more.

07:38 89 is about the lowest. Uh it's just it's a Medicaid uh rule. But so but yeah, it doesn't go below that. It just increases over time. I do a lot with AI and the automations to reduce paperwork. >> Do you have a functional mobile app? >> Yeah. >> Okay. and people are using it to book regularly >> because it's like HIPPA involved. So, we have an app that we pay like a subscription, but as far as like all the backend administrative stuff.

07:59 Yeah, we have all that automated. >> Okay, so first of all, I freaking love this space. That's why I'm still in this space. Just to help you guys understand, the reason he's going after the VA in particular is cuz they're guaranteeing a certain number. If he starts going mass market, it's going to be really difficult for him to acquire customers and he's got to worry about the CAC and the LTV, etc.

08:16 He already knows he's got a fixed 12 visits that he's going to get paid for by the VA, which is awesome. And the reason he's staying in the clinic way more profitable. So stay out of homes. Like don't just don't do it. Say no to drugs. Friends don't let friends offer healthcare in the home. All right. It's like it's very hard. It's very hard. Here's where I'm at with it.

08:33 I think it's a great business. You're at $68,000 a month, which is great. Your margins are great right now because you're small. You're about to hit the threshold and you've already identified it. You need somebody else. So, it's going to take investment to get the right people in place and you're moving from one location, one owner operator to multiple locations.

08:47 And as you scale, you're going to have things like we got to figure out payroll and we're going to have to figure out AP and how do we control quality, right? How do we make sure that these therapists are actually doing what they say they're doing? How do we screen them? How do we have best practices? How do we make sure we're collecting? Oh, do we need pre-authorization?

09:02 Do not pre-authorization. Now, I know at the VA, you're going to have your processes dialed in, but if you go to other states, there's going to be a problem. So, for me, $100,000 at a 5% stake is, do the math, $2 million in in value. I don't think you're there yet. I think you're you are absolutely going to grow into that. I'm very interested in the business because I think you found a really cool niche and it sounds like you're growing fast and I would be interested in helping fund the expansion in particular.

09:26 I'm not super keen on funding an individual business office manager. You're going to need that role anyways. I I think what you need is a COO. You need someone to come in and partner with you to scale the business or if you're like really great at ops, you need the business bisdev person to come in, right? So, I don't know you well enough yet, and we could ask a ton more questions, but I think your next hire is actually figuring out where your deficit is and then hiring to supplement that, but I love the business.

09:51 I'd love to figure something out with you, like to help you grow, but at the current valuation and the current asking, I yeah, not interested. You're kind of in this messy middle right now where you're you can't really raise it like uh a traditional business valuation, but you can't raise it like a tech valuation like Zeal would yet, cuz it doesn't sound like your app is far enough along yet.

10:12 So to me, you'd almost do yourself less of a disservice if you built out your app a little more, got a lot more revenue running through the app, and then you could say, "Hey, it's a 10 million valuation because we're we're an app now." Like we're a technology company now that happens to to choose massages, right? So I would be interested in investing once your first second state is approved and like you're generating revenue in that state even at a higher valuation.

10:36 I would rather invest later at a higher valuation once you derisk that second state just based on what I'm hearing Nick say cuz I don't know anything about this but he does and if your app were built out more as well if you were more of a technology company that's where I'm at. >> Sorry did I miss that? Is this an app first company or is this a services first company?

10:54 >> Services first company that uses the app to automate everything that >> so you're developing like your own internal operation. we got to be done. But if you pass his due diligence, I would be interested in helping out on the tech side. So, I would be in if he's in. >> I was gonna say the exact same, but I'm in Nixon, but >> all three. >> Okay. Thank you so much.

11:19 >> Yes, that was awesome. Give it up again for Ammon. >> Yes, somebody always has to go first. So, thank you, sir. That was amazing. Hey, believe it or not, about 62% of you don't actually subscribe to this channel even though you see my videos in your feeds. So, just take a second, hit the subscribe button, maybe even the notification bell, and it would mean the world to me.

11:40 So, next up, we have Cam Finley with Go Seeds. >> Hey guys, like a 100red million people, hundreds of millions of people in the world, I love sunflower seeds. Who loves sunflower seeds? Yeah, I love them so much. I have them in my mouth right now. Now that I think about that, I should probably uh spit them out. Do you guys have a napkin? No. Okay. All right.

12:05 I brought my own cup. That's okay. >> Come on now. Come on, guys. There has to be a better way, right? There has to be a better way to consume sunflower seeds. And this is it. This is go seeds. It's simple and it works and it's amazing. Brethren, today is the first day of the rest of your lives. Okay? Think what we can do with this product. Close your eyes for a second.

12:33 Think what we can do for wife on husband insults, profanity from spilled seeds. We can eradicate it, guys. Our nation will never be stronger. Let me show you how it works. This side, you open the small side, you get fresh, amazing seeds. You shut that. You open the other side and you spit the the Thank you. You spit the shells in here. Your wife loves you.

13:00 You don't make a mess. It's clean. It's compact. You buy it like this. You can fit a whole bag of seeds. You can't touch this yet, dude. Wait till the pitch. I know, right? Okay. So, I want to make seeds clean and usable. Okay. My wife and I, we have 10 kids. We have a lot of seeds and we don't want spilling. So, we use these to help keep them contained.

13:22 And uh who wants to get cracking? >> Yeah. >> Come on. >> I didn't know that wife on husband profanity for seeds was that big of an issue. >> Go spill seeds in your car and see >> uh what what are you asking for? >> So, this is an idea. My buddy and I have had this idea for years and years and years and we just love it and it works well for us. And when the opportunity present itself, I said, "Let's get serious.

13:52 Let's go." So, this is like a sippy cup for seeds for dads. >> Sure. So, is this your seed round then? >> That's it. I like it. I like it. >> Good one. >> Hey, dude. We don't want to make a shell of a mess everywhere. We want to be contained. Okay, >> there you go. A lot of good puns. This reminds me of like the chip like Pringles chips, right? So, it is I I assume easy to manufacture this at scale for cheap prices cuz people throw those away.

14:22 What does this cost? Do you know like at scale? >> It It depends on scale, but we think we can get those for$120 full of seeds. All the packaging. >> What do I don't buy sunflower seeds very often. What do sunflower seeds sell for these days? >> You can get a pack of seeds, the same amount of seeds. You can get it for $3.20 at a gas station. >> So, this could command a premium to that, I would assume, if it's the same amount of seats, but with the throwaway aspect.

14:48 So, >> absolutely. >> Do you know what you'd want to retail it for? >> So, I think we'd want to be right under $5. >> Yeah. >> Yep. >> Yeah. >> We want to be right under >> reusable or you don't pitch it as being reusable. Of course, you could reuse it. >> We have thought about making reusable ones that have like the New England Patriots on it or whatever sporting, right?

15:08 So, we're thinking about you could brand those for schools, for your favorite sports team, for your favorite Disney princess, whatever you want. Then you could unscrew the bottom and replace it with new seeds. But these are going to be disposable. >> Yeah. Okay. >> Do you have a patent on this yet? >> Headed there. You're headed Is it pending or? >> Yeah.

15:28 >> So, provisional. >> Are you open to this being a packaging company or does it have to be a seed company? >> No. So I I just met a guy who does a lot with bies. You know what I mean? Never heard of her. >> What if we had that one be two teeth and we had the big one be a beaver tail? It could be pretty sweet. So I want to revolutionize seeds. I want to revolutionize seeds and I think go seeds the packaging is the key to revolutionizing the seed industry in your professional industry.

15:56 Like do you have experience making, selling, distributing something like this? What does your professional background look like? I've had a company that we had little eyeglass repair kits, sold a $750,000 licensing agreement. Uh then I have a a thing called BCOM buzzers. Check them out. They're awesome. They help people with stress and anxiety. So, we're building that company.

16:19 We've built the it was called SOS Optical in the past and I worked for the governor's office for 20 years helping small businesses succeed. So, I've seen a Well, it's been a few governors, right? Oh, >> yeah. Utah. Enoch. Raise your hand if you know where Enoch is. >> Oh, city of Enoch. >> Okay. All right. Yeah. We're the sinners that didn't get translated the first time.

16:41 We're trying to figure it out. It's a great place. Come to Enoch. >> It's a good one. >> You buried the lead there. You've already signed a licensing deal for a previous business. That's a big deal. >> That's a big deal. As they say in Utah, >> it's not that hard to have a great product. >> People want to buy it. >> Can I eat these? Are these >> Those are yours, guys.

17:00 >> Okay. I don't eat seeds. Okay. Are there other seeds that this would work for? I don't know much about seeds. >> Those not only work for seeds, they work for snacks, they work for nuts. Our company's called Go Seeds, but it also has Go Nuts. So, you can do those with pistachios. You can do it with >> I mean, the future's unlimited. >> How many different seeds do people eat, but spit out part of?

17:22 >> So, you have sunflower seeds, you have pumpkin seed. >> I'm really intrigued by seeds right now, obviously. >> Yeah. >> You have magic beans. I'm kidding. I'm kidding. So, if you go into a gas station, I I everybody go into a gas station and say, "What is one of your number one sellers?" Hands down, it's sunflower seeds. Next is beer. But sunflower seeds are have a great throughput.

17:44 They sell all the time, all day, every day at convenience stores. I drove down here. I literally have a big cup from my from my kitchen. >> It's nasty. >> Full of seeds. Shells. It's seed shells. She sells by the seashore. It's disgusting. I like So, I would absolutely be a consumer who would buy something like this. Yeah. >> Tell me because I missed it.

18:04 What are you asking for? Like, what? Oh, you didn't say. >> So, I'm asking for a strategic partnership. That's what I want. I want strategic partnerships. We can work together to revolutionize seeds. That's what I want. >> Interested. FYI. Yeah. >> I love it. >> Yeah. >> I am in so hard on this. This is like This is like Brigham Young saying this is the place.

18:24 >> This is the seat. >> This is this is the seat. >> I like it. So 5 Hour Energy won because they took the energy drink and put it on the counter, not in the cooler. No competition on the counter, right? Uh Liquid Death won because they put bottled water in a can. Dude Wipes won because they made wipes for dudes, right? It goes on and on. And so the whole episode was about changing the form factor and you win.

18:43 Gruins took Athletic Greens powder and put it in a gummy form and sold for 1.2 billion in 30 months right after founding. So I'm all in on a new form factor. I'm like whatever you want. like strategic partnership. I'm in like Flynn, baby. >> Let's do it. I love it. Go seeds. >> Just one question. One question. This is your wife. >> This is my beautiful wife.

19:07 >> 10 kids. >> 10 kids. Stand up. Everybody chill. My wife >> and she must have the patience of a saint if you're married to this guy. And had 10 kids. That's incredible. >> We're so blessed. We're so blessed. She She says 11 kids cuz you know. So, you're the king of seeds. That's it. The king of seeds >> in more ways than one. Great job. >> Listen, I'm bringing Brandon with me because he's a Facebook ads guru and and this would crush with Facebook ads.

19:37 So, are you in or what? >> Yeah, I'm in. >> Let's do it. Let's go to the moon, fellas. >> Nick, what are we doing? Do you have any healthcare experience? >> This would be perfect for old people. >> Their dentures. Anyways, I'm in. I bring nothing to the table, but I would be 100% in. Take my money. Let's do this. >> Let's do it. >> Yeah. Yeah. Yeah.

19:56 Yeah. >> That's a three peak, guys. Let's go seeds. >> Yes. Let's go. >> Okay. That was awesome. Yes. And hey, if you guys stay after Cam is going to be up after this whole show, he's going to do an improv bit kind of just like on seed puns, like everything everything seed puns, man. Awesome. Congrats. That was good. Up next, we have Mr. Tom Hamilton with Next to Kent.

20:20 So, it was right around this time last year that I took my son out to a football game. It was a Saskatchewan Rough Riders. For you guys that don't know where Saskatchewan is, it's a place in Canada that's a square, really hard to spell, really easy to draw. I took him out there for the pregame. He took his shoes off. He's at least part golden retriever.

20:38 Took his shoes off, ran to the bouncy castle. I went over to the halfp price beers, kept an eye on the shoes, went and grabbed my beers, came back, and by the time I got back, I finished one beer and his shoes were still there. I went back to the bouncy castle and looked and they're not like they were when we were a kid. They go straight through. There was an out.

20:56 They're not contained. So, I went and I saw it and my stomach dropped. Thought, where is my son? He's about that tall, wearing a green shirt. And I had no idea. I looked into a room like this and everyone was wearing green. I didn't know what to do. I felt like a bad dad because I don't know how tall this is. I don't know what color shorts he was wearing.

21:13 Thank you, moms, for paying attention to that stuff. I didn't know what kind what kind of shoes he was wearing because they were sitting outside of the bouncy castle still. Around that same time, I saw some people making a technology or using NFC technology to make business cards. I thought, well, why can't I just go and buy a 3D printer, make one of these for him, he can put on himself, if he gets lost, he can go up to a stranger, say, "Hey, can you call my dad?"

21:30 Around that same time, one of our neighbors around 1:30 in the morning woke us up cuz she was locked out of her house. She had dementia. And that's when I learned about the problem with dementia and wandering. Um, and it's it's really tragic. If you're not familiar with it, 60% of the people that have dementia wander and if they're not found within 24 hours, it's usually death or serious injury.

21:49 And so what this is, it's a product that allows anyone that wants to participate in helping someone that's lost or or confused to get back with a simple tap of their phone. This is a thing and I hope Yeah, I hope because we're not completely shark. I might break the rules here. I can't give you an honest answer with that. I'm visiting from Saskatchewan.

22:05 and I just came down uh you know yesterday I'm I woke up in Saskatchewan and I've gone across two provinces and three states in the last few days. >> So let's make this easier. You don't have to have a number. How can we help? >> The ask is is it A, this project only works if people know how to use it. And B, my real goal out of this is to start building my reputation down here so I can get an E2 visa and move my family down to the States.

22:27 >> Awesome. >> This has gotten really big traction up in Canada. It's made national news. I'm in the riders now. They invited me into the stadium. We've had live returns. The Alzheimer Society of Ontario is picking it up. So, again, not closed yet, but we have about a quarter of a million to $500,000 in orders coming through pretty soon. >> So, do you have any revenue yet?

22:46 >> Yes. Uh, right now I'm making about 10 grand a month. >> Okay. Is this 3D printed and an NFC chip is inside this? >> That's correct. Yes. >> Can users print their own? Like, do they have choices or can they customize their own? How does how does the shape work of this chain? >> So, I am making different shapes for different people. Um, people can make their own.

23:02 The product isn't that. That's actually the advertising expense. They're about 30 or 40 cents to make to get those in people's hands. So, if if you look if you think like a credit card is a piece of plastic with a chip, it's everything that's going on behind where the chip is. I keep them free. There's no app, no subscription, and there's no tracking.

23:18 I think this is amazing. I love the effort that you put in to come here. I love your story behind it. I love the fact that you sold your story. I like to say sell your story. You did that. You incorporated your kids. You pulled on the heartstrings. I don't mind that you said you don't know what you want. Like we have a whole category for just ideas, right?

23:33 So I personally I just want to give you five grand for none of your business. It's just to help you grow your business and then 20 grand of like free marketing to help spread awareness. That's what I want to do. >> You should take him up on that offer. That's a really good offer. >> I I like I I honestly don't know if I have enough gas money to get back to Canada tomorrow.

23:54 So like that really means a lot and thank you. >> I'm actually also asking him for five grand for nothing later tonight. >> Come on. Three takes. Three takes. You know, it's more than I normally get for it. But >> So, how similar is this to like an Air Tag? Does it work the same? So, from a marketing thing, I've reverse benchmarked it. >> So, I like I'm I'm going like opposite.

24:15 I'm going >> what they do. I'm not going to try and compete with Apple. It's exact opposite. This is what it is. There's no app. There's no battery. No subscription. They're cheap to make. Um up in Canada, we have like I'm modeling after after a system. We have something called the War Amp keychains. They're a little barcode you're going to put on your keychains and they're free.

24:31 If someone finds your keys on the ground, they pick it up, put it in the mailbox, the post office get you your keys back. And so it's mold after that. And what I want it to be, I don't ever want to market to the pain of the people that are the caretakers of dementia or people that are non-verbal autistic. So I want to normalize the use of everyone having it so that it creates a network.

24:49 And if you have one on it, it just says you're going to participate in helping. And I really believe that love's going to win. And this is just like the simplest way like we can we can all get together and say we're going to take care of each other and then argue about the stupid that we do nowadays. >> I love all that. I have to ask some >> Yep. Yeah.

25:04 Yeah. >> other questions out of curiosity. How much does it cost to make this thing and how much do you sell it for? >> They don't sell. They're all free. >> Oh, this is just free. >> They're free. Well, so that's I'll back up. Um there's institutions. They're $5 each. The hard cost is somewhere about 40 cents each to make. So I only do larger orders.

25:22 So, it's like minimum of like 5,000 an order. And I'm doing like large events like festivals, football games. I I really see this could be in every sporting event or anywhere where a kid can take off. >> So, I'm an idiot. So, please hear this is the product I can go and scan this if somebody's lost. If I like we have these little clips I make and if a kid if they're sitting at the football game or if they're at the state fair you clip it to them and if they get lost or separated rather than them rather than like

25:48 security someone have to find them and bring to security any parent that recognizes what you can do can tap it and call the parent instantly. >> How much more expensive would it be to add an RFID chip so that I could actually track where that person is? >> That's not the point. The point is that I know it's not on the point, but so I work in healthcare and we I don't know I don't know if people knew that.

26:06 And we have a lot of patients in dementia units, you know, they're locked units. The reason they're locked units is because they wander. >> Y >> and it, like you said, if they get out, it's a problem. >> Yep. >> So if I bought this for my facility and I said, "Oh, I want to give this make sure my residents are safe." Y >> the first time one of them gets out without permission.

26:23 I'm going to think, gosh, I wish I could track them, right? If I lose my son at a sporting event, the first thing I'm going to think is gosh, I wish I could track him. So, for me, I'm as a customer or a consumer, I'm just having a hard time trying to like why would I not buy something that could actually then track? >> It's completely fair and it's a tool.

26:41 Every tool has it its positive and it negative. >> So, how much would it cost to add an RFID chip? >> Um, that wouldn't be the business cuz the thing is you're you're now asking me to compete with Apple with Air Tags and that's not my lane. So, I wouldn't want to that's not my like they're a different thing and again, you know, dementia. So once you start tracking someone, there's dignity that's lost.

26:58 And there really is. There's a lot of people out here that don't know the signs of wandering. And if you do see them, we've just kind of lost this ability to see someone that needs help. And our instinct is to take a phone and and start recording them. And so this really just wants to train a behavior is what we're doing is training a behavior that if you see someone that looks like they might need some help, you can look for this.

27:14 They could be a type 1 diabetic. They could be a non-verbal autistic that if we see one of these things or if we find a set of keys or put it on a dog that we're going to help each other. that fits really. >> I agree that that's not the business. I think you should stay open-minded to that could be a part of the business. Not that it has to replace what you're doing, but we want to eliminate friction and as humans like we're already accustomed to life 360 and and Air Tags and you don't need to be Apple.

27:38 You you could be an Air Tag for kids or Air Tags with people with dementia. And it doesn't have to replace what you're doing. I'm just saying as you're having conversations with the owners of these facilities, just float it. It's like, hey, would you ever like what's the harm in just saying? Would you ever Oh, now that you might hear, "Yes, that's what I want.

27:54 This is cool, but that's what I want." And then you're like, "Wow, there's a signal there. I should go there." >> I'll back be humble that I'll I'm always open to suggestions suggestions from people. >> Another idea. I love that you said sporting events. We're almost out of time, but you could, if you had a sporting event with 10,000 people, you could give it away for free.

28:08 Give it to the organizer. They hand it out for free. It's going to cost you 300 bucks, right? 30 cents per 3,000 bucks. And it could be free like for a month, but then there could be a QR code where you could charge like a dollar a month and people could keep using it with their kid forever if they want it. It's free no matter what for the event, but you can make recurring revenue as well.

28:27 >> Always open to that, but there's something about people right now the atmosphere of being overs subscribed and no app. So, I'm really kind of um as a marketing play is taking away this friction of people feeling like they don't want another app, another subscription. So, getting them users so that the big institutions will come and fit fit the bill.

28:44 >> I really do. I love your passion around it. I love that you were inspired by your son and he's involved with it. I hate that you're trying to build a new product in a new marketplace. That to me that it's always scary when you're trying to change the consumer behavior of the mass consumer. But that being said, I would be willing to offer you $5,01 of value.

29:04 Just kidding. I would be willing to introduce you to a number of facilities in the healthcare side. So I I have many facilities. I know many people. They're the best. I have a lot of relationships with skilled nursing, assisted living, long-term care facilities. And so if you just want to get market research from these individuals that set up pitches, conversations, I'm more than happy to introduce you to those people.

29:27 >> Thank you. I appreciate that. >> Yes, that was awesome. All right. Really good energy. That was that was great. You guys stepped it up. All right. Up next, we have Nisha and Duchar with Secure Pocket. >> Okay. I got to start with um a little trigger warning, okay? because I am going to talk about urine and feces. Okay? So, just prepare yourself. Okay?

29:46 So, I'd like you guys to imagine a cute little baby who has just had a blowout, a diaper blowout, and it's all over them, right? Well, this happens to adults also. So, just use your imaginations. All over the bed, all over the person, in their hair, on their wheelchairs, on the floor. And it's because adult diapers fail to do their job. And the industry has not innovated diaper design in ever.

30:13 Okay. So, we have solved the problem. This is the secure pocket containment brief. It's a double layer system with a hole in it and it works. It contains. It holds everything. >> This is Hold on a second. So, do I do I put it on? >> I mean, if I have to. Wouldn't be the first time I grab my pants. It may not be your size. >> Wow. >> So So they're just they're just here.

30:51 Yeah. >> Yeah. This is a smaller size. >> Yeah. That's a small That's a small size. Dick, hold your comments. Okay. Do you have a >> We have a patent. >> Okay. You already have the patent. >> Full patent issued. >> Okay. You already know his health experience. He's going to brag about that yet again. Who knew we were gonna have like four health things today?

31:11 Do you have revenue yet? >> We do not. We are pre-revenue. We just launched, soft launched our Weunder like two weeks ago. >> Nice. What's happening with that currently? >> Um, we have quite a few appointments set. Um, we do have our lead investor. His name is Benjamin McGee and he's a businessman but also it's all in healthcare and so he has used the product and says there's nothing like it.

31:35 Um and everyone who has tried our product has just raved and begged us for more but we hand sew them at this point so there's only so much we can do. >> That was my next question. Is it possible to manufacture those at scale without hand sewing? >> Yes. >> That exact design? >> Yes. Okay. Do you know what like your minimum quantities are going to be and what your cost to produce a unit's going to be?

31:58 >> Yeah. So everything has been settled down. So we have found the faculty who is going to produce this thing for us. So that's the biggest thing. So right now in the diaper market the machines they cost around 1 million$2 million $3 million. So it's not easy for any guy to get in but we have found a way. Do you know how big of a problem this actually is or have you actually gone and surveyed and said x number of facilities say this is a problem?

32:21 >> No we haven't done that. We have not done that surveying. Yeah. Um and the CEO that we spoke to um he said in the just like the loose stool department there isn't like a huge demand but this diaper is for much more than just the loose stool. This is for heavy heavy outputs. >> I love the idea. Personally I would focus on licensing this or selling it to upstream to a large manufacturer because you're getting into two businesses.

32:49 One is the diaper design business and one is a manufacturing business. Those companies already have it figured out and so you're going to be competing against them on two vectors which is just really difficult. I do love this idea. I would love to help you in any way that I can. I can't remember what your was it 300,000 for a machine. I'm not super interested in that cuz I think that that it's just a whole different vertical that I'm not super interested in.

33:13 But I'd love to help you figure out a way to get this in front of a large distributor and manufacturer. You didn't say 300,000 for what? Like >> 300,000 in total 65,000 for the machine this time. >> But you're asking for 300,000 in exchange for >> Yes. So we're asking for 300,000. Do you want to know like what we're using that for? >> No. Like equity.

33:32 Did you have you already like >> mailed? We're like zero revenue, right? We haven't started yet. So we're using a safe. >> Okay. Okay. Yeah. You know, I don't have much to bring to the table here. I think it's a good idea. And I think obviously we always hear about the stories of like the elderly population is increasing and they need more help and there's lots of business opportunities there.

33:51 So I think it's a awesome idea and I think you should take him up on his offer and I wish you the best. I love your mission behind this. I think that's the biggest strength there. Like it it's something you have experience with and I that's very commendable. I'm kind of surprised that Nick wasn't more excited about it and I'm me too >> wholly defaulting to him.

34:09 No, I like I really trust his opinion here. So that has me looking at it a little differently. I do want to email my investor list on behalf of you to see if they'd be interested in it and give it a good hearty go, but I personally wouldn't be interested. But I wish you the very best. >> Thank you. That'll be wonderful. >> Nice job, guys. That was not easy being in front of a huge crowd and talking about output.

34:31 >> Quick word about today's sponsor, Beehive. They just launched something called community and it does something that I've never seen on any other platform. Every newsletter and podcast you publish gets added to your feed automatically, sitting right in front of the people who already love your stuff. So, your biggest fans get a whole new way to find out what you love with no algorithm getting in the way of what it wants them to see.

34:51 And the conversation keeps going. The replies that your readers send come out of your inbox and into a live town hall where everyone can jump in. You can add community access to any subscription you already sell in about 5 minutes. Whether it's free, premium, fully paywalled, or paywalled with upsells inside. And yes, of course, Behive doesn't even take a cut of those earnings.

35:13 A quick community post is easy to write, and the feed is easy to scroll. So now you can keep your short form and your long form in the same place instead of renting that space on social media. Get more juice from everything you produce. The links in the description below. All right, we have a duo coming up with Cameron and Jason for pick a path letters.

35:32 Give them a round of applause. All right, so if your kids are anything like ours, they love getting mail addressed directly to them. I'm Cameron. This is Jason. That's the simple idea behind pick a path letters is what if we turned that thrill of a kid running to the mailbox, grabbing a letter, ripping it open because it's addressed to them and we turned that into an experience, one that fostered learning, reading, and uh just kind of the joy of anticipation.

36:02 Yeah. So that's what we did. So twice a month, your child will receive a letter in the mail and it's just one chapter of the story and then it will be professionally written and be beautifully illustrated. So, no AI and it's just, you know, we plan on having various stories, genres of stories. What the twist is is at the end of each letter, your child will then make a choice.

36:22 So, it will help the heroes guide the story and that choice actually determines what comes next. There are different variations to the next chapter. That's what separates us from like any any other of the the child subscription letter services is that that element of choice. And so this unique experience sparks their decision-m, critical thinking, their imagination, and such.

36:43 So we wanted to show kind of we have the product, right? We've built it. We have one story available. It's called Squire's Quest. Another one on the way. Uh this is one of the letters. Um inside is a chapter written at the end at the end of choice. Are Henry and Ava going to go into the hills or into the forests? Right. After they've made that choice, coloring pages to kind of color scenes from the story.

37:10 We've recently introduced a gift bundle that then includes a book. They can put it in and uh build their own book as they uh receive their letters. >> Stop talking. Take my money. I'm dead serious. I think this is an incredible idea. Chris and I both interviewed someone the flower letters. >> They're very familiar with >> their business is freaking incredible and they did it the right way.

37:32 Hey, it sounds like you guys are really focused on the story having a four-year-old who runs the mailbox multiple times a day because they've been trained now that Amazon delivers multiple times a day. Like the minute you said your kid running the mailbox, I thought of him. So, I don't know what you guys are asking for, but whatever it is, I meant >> Yeah.

37:48 So, we are just starting. >> No, no, no, no. You're asking for something. >> Yeah. No, we're just starting. Uh, we sent our first letters in January. We've got a handful of subscribers. Most of them are content generators that we're starting to kind of have them build that content for us. We do have a few paid subscribers that we've uh gotten through uh Meta Ads.

38:06 Kind of doing a trial there. >> You're kicking off in the January that's coming up. No, you kicked off last January. >> So, how many how many subscribers do you currently have? >> 23. >> This reminded me of Goosebumps. I don't know if you guys read the there were some choose your own ending goosebumps books that were pretty fire. Yeah. >> So, love the idea.

38:24 What are people paying for each month for the subscription and what about for the bundle? Yeah. The hundred bucks would be for the six-month story. We have a second story in the works by the same author because she did an incredible job. And I think that one we're looking at 140 150 for a 12-mon story. And so that's where we're at right now. >> How does the kid get their choice back to you?

38:49 >> Yeah. So ideally, the whole pen pal idea would have been awesome, right? But there's kind of the time limitation. So parents um will either send a text. So, we we send text reminders cuz we have to get the choice back before the next letter is sent, generated, and sent. So, we're sending reminders to the parents phone numbers throughout kind of the the time that they're reading it.

39:09 And they can just simply respond hills or forest, and then it'll take that or on the on the at the end of the letter, there's a QR code that they can scan. It'll bring up a web page that they can then submit their choice to. >> Are you manually sending these texts currently? >> No, it's all automated. So we're using go high level right now for our CRM automation.

39:29 >> So you don't have like a set fixed monthly price that you are sold on right now. Do you know your cost though? What a month's worth of you know two letters and post like what does that cost you? >> Yeah. So for the bundle our margins are about what was it 80 75 to 80%. >> Yeah actually yeah I don't want to know this. I want to know just if somebody does monthly >> just on monthly here >> $14.99 um that's kind of what competitors are around >> and margins are like 85%.

39:53 It's mostly shipping. >> I think this is one of your biggest assets like snail mail businesses are exploding and I think they're going to keep exploding. I think with AI things are just going to go offline more and more. My wife actually has a snail mail business snailsuppercclub.com and what they like is having getting stamps every month that they can put in their passport.

40:14 So the passport has 12 stamps with spaces. They're all kind of differently shaped. Then every month they get to put that in there and it helps with churn. It helps it feel more engaging. And I think that could be a big asset of this because the kid is going to want to finish it. I love that you have a coloring page in here because that makes it more interactive.

40:29 I just think you you shouldn't like this shouldn't be an afterthought. I like the idea of selling a yearly subscription too. Yeah, totally. The we've priced it so that the gift bundle is like no-brainer, right? Like for the gift bundle, it's a hundred bucks, right? Right? If you just want the story, it's 75, right? So, who wouldn't, you know, like that's we're aggressively pricing that way because we want them to have that, right?

40:51 Have that asset, have it be something. >> So, lucky you. I I had a talk with a guy in Rexburg, Idaho, like three months ago. We just had one chat, but he owns the domain name penpals.com. It's like a mid6figure domain name that he's never touched. He bought it because he had an idea. And the reason he talked to me is because he wanted ideas on how we could monetize it.

41:10 And we talked about some stuff, but I never followed up. I don't think he's ever done anything with it. I would love to put you in touch with him because he's like begging for guys like you that already have an idea that he could they could just plug into his domain name. So, I don't know if you're interested in that, but like having the credibility of penpals.com behind what you already have could be huge.

41:28 I would just ask really quickly, what's your churn and why do you only have 23 subscribers? You launched in January. That's a long time. >> Yeah, our churn is I think we we've lost two customers along the way, right? One kid got adopted. One it didn't like it just didn't feel good. They just didn't like it. >> To clarify that the family had purchased uh I think the foster >> the family had purchased the child.

41:51 >> I think the >> This is getting weird, dude. >> To clarify, the family was in the process of purchasing the child. >> I think the foster home had purchased the experience for the child and the child got adopted and so they're like, "We don't need the letters coming here anymore." I think we asked >> they couldn't let the kid keep the like story going.

42:07 >> Yeah. They said they they wanted them to start a new with their family. they'd moved on and it was important for them to to >> help with the transition. >> That's the weirdest thing I've ever heard. >> Yeah. I've never lost a client to adoption before. That's the crazy story. >> Yeah. >> Yeah. To be frank, like we saw this last minute and we like we don't have an ask um because we don't have revenue really, you know?

42:28 We're just here because we kind of got stunted on how do we find customers for this, right? We neither of us know anything about social media, about ads, and so we've tried finding partners for that. The one person we've had, we had run the little meta uh campaign that we did, I think we spent a,000 or 1,500 bucks, and that's how we got 10 customers, and we're like, "Hey, that's not working.

42:49 Let's turn it off. Maybe we got to figure out our our offering. Maybe we got to figure out like our funnel." You know, >> I would say we're all in as customers. Okay, he's already said he's for sure in. I'm for sure in. This is for sure a money maker. His wife's doing a letter thing. My wife is also actually starting one. Not competitors of yours. I think there's a lot of money in this space if you do it right.

43:12 But yeah, I'm in on like the investing strategic partnership side for sure. And as a customer, I think this is awesome. >> I'm going to say this and hand it up to you. My mind goes to potentially going to flower letters and either pitching a partnership or pitching some type of equity investment because their biggest problem is actual authors in in growing this.

43:30 >> Yeah. And and we've reached out to him a couple times. We're like trying to get them cuz we've heard them on your >> content. You could connect us. That'd be >> I'll connect you. Yeah, totally. So, I'm I'm with Nick. I'm all in for a strategic partnership, but meta ads, like that's a non-negotiable. I would not find an expert. You got to dig in like dig into the weeds.

43:45 You got to learn the ads yourself because that is how this entire business grows. You have two distribution channels in the snail mug business. Paid ads, organic video. That's it. So, like ideally you pull both levers, but for sure go paid because paid is less of a skill, I would argue, than organic because you can just put more money in. And I would not be disheartened by spending, you know, 1,500 or,000 to get 10 customers because that's just like your next 1,500 will get 30 customers and your next will get 60.

44:12 Like, you just got to give it more time. >> Yeah, that's what I do. So, I I would love to help you with this. This is this has a lot of potential. Awesome. >> You just have to crack that one code and then you're golden. Yeah. >> Awesome. Thank you. Nice. Great job, guys. That was awesome. I'm kind of still stuck on the fact that there's a really happy kid out there with a family that still doesn't know how the hero got out of the dark forest.

44:34 >> Yeah, we need to find that kid. Can somebody find that kid? >> They got a dog. They're fine. They don't >> Coming up next, we have Mr. Jake Nelson with the Doghouse app. So, tonight I want to speak to all the gentlemen in the house, especially those who are in committed relationships. If you've ever forgotten something important, whether it was, you know, what your wife said 10 minutes ago or to get milk on the way home from work or whatever or forgot to plan something or didn't plan something or didn't set

45:02 reservations or anything, you suffer what's called men suck itis. It's the most prolific disease among married men. It's not contagious, but it is very curable. I have in my hand the inspiration behind the cure to mensitis. This is my wife's journal. It's like a a glimpse into the mind of a woman. It is crazy. On February 14th, 2008, only 5 months before or after I got married, my wife wrote this.

45:32 It's not emotional, but I'm Anyway, I'm standing here in just my apron and heels. I expected Jake home an hour and a half ago, but of course, he's not magically decided. He's magically decided to not come come home right after school. Dinner has been on the table and is cold. She goes on to say, you know, the ambiance and the low low light and the music and her plans for the evening, but it's a family show, so I won't go too much into that.

46:00 But that was 5 months after I got married. We were newly weds and we were in love with each other. We still are. That journal entry inspired something in me. Well, several months ago this year, my wife uh reached out to me. My wife said, "Men need women coaches to guide and direct them through their relationships to improve their relationships." So, I started the Doghouse app, which is an AIdriven relationship assistant that's like a chief of staff for the important relationships in your life.

46:31 It's out there right now. It's only a web-based app, but it's brand new. And that's it. The Dog House app. >> I've been really trying, baby. That's what she was hoping for. That's what you were hoping for. And that's what's probably one of the many songs she had on her playlist that repeated 17 times while I was >> Okay, so let me just get this straight.

46:50 This is the Dog House app. It helps you. Basically, you're getting a second wife to tell you what to do even more. We are in Utah. >> No, sister wives. >> Yeah. >> It's a good start to the next phase of of the trip. >> Yeah. Yeah. >> No, it's a higher law, brethren. >> So, her idea was to have >> women coach men guide them through the relationship. >> And you said, "No, no, I know better than you.

47:13 It's gonna be AI. >> It's gonna be AI. Yes. >> Got it. >> It is a paymentbased app. So, you subscribe because it's utilizing AI, which is costs money. Um, but it's working with this AI coach to when you onboard, it knows your significant other's quirks, her color code, her birth order, her horoscope, what things she likes, what she hates, her favorite flowers, restaurants, all that stuff.

47:38 and it will nudge you, hey, make sure you set a reservation for next week's appointment, whatever. Um, send her a spicy text, all that stuff. I had a flashback to my favorite episode of The Office, The Deposition, where Jan was reading Michael's performance report. I am out of carrots. I'm out of sticks. I actually don't have a lot of value to add here because I'm not a bad husband, but I'll try I'll try to Just kidding.

48:04 Just kidding. My wife's right there. Plug yours. Um, I'm just kidding. So, first of all, do you have any free users? Like, have you had anyone use this at all? >> I have I have no users. It's only on the web. It's not on the store yet. Version one is like almost like my beta testing opt uh opportunity to basically I really want to gauge interest and um you know, prove prove the market the the match.

48:29 >> And a mobile app is the goal here, right? Like your web app now. Okay. So, it's an AI rapper where you you can upload custom info and it's a chatbot for husbands to become better, right? >> Not as much of a chatbot as really just an >> Yeah. Yeah. >> Okay. Is it safe to say like it's like a better help for husbands? >> Yes, kind of. >> Could you chat with it?

48:47 You I mean you could add that function, right? >> Yes, of course. >> And it's a chat function. And it just has a it does have an AI screen that you go to and it will help you generate thoughtful, creative uh text messages to send to your signific significant other based on her mood and um all the other things that it knows. >> Real question, does it know can you have it know where your wife is at in her cycle?

49:15 Serious question. >> That is part of it. You can add her. Yes. The ludial phase, etc. Mhm. >> I'm learning about this also currently. How much are you going to charge >> right now? It's set for $20 a month. >> Okay. >> But I'm not set on price. >> I'm assuming the cost is going to largely be based off of how much the person individually is using it cuz it's just going to be token costs.

49:40 >> Yeah. So I need what I really need is for to determine how much a basic general user uses in because it costs me for my I use base 44 to build the app. It cost me credits in my base 44 account and so I need to know how much credits that single users using. >> Yeah, you would need to get it off of base 44. That's one tip. Tip number two, you would have to integrate some other LLMs aside from like Claude and Chad GBT to have cheaper token costs because I think that monthly price is going to be too high.

50:13 I think it should be like $9.99 or $4.99 a month, but you can drastically cut those token costs. But I actually do think it's a good idea. Absolutely love the idea. I like that's a real problem. There's three big barriers that you don't have to have the answer for right now, but I think that you're going to face. The first one is what's the model? So, is this your wife is, you know, the back end for it or are you using just any LLM?

50:33 Oh, we're going to use Claude, uh, Opus, whatever, 4.8, and they're going to give these tailored answers. You don't have to answer that right now, but that is one thing that I think is really important. It's like, why would I choose this, >> right? Like, why would I choose the advice that's going to give me just AI? The second piece is going to be onboarding.

50:48 To me, I I just this is an onboarding nightmare. >> How are you going to get the information needed in order to then push notifications and give tailored solutions, right? we're gonna get um OOTH for Gmail and Outlook and we're going to get their texts and we're like it having onboarded OpenClaw or Claude uh co-work or any of those things. >> It's difficult to get all the information that you need in order to actually launch it.

51:11 And then the third thing that I would be worried about is >> this is really a distribution play. It's not a huge mo so anybody could spin this up. And so what's your plan to acquire customers? You've got to figure out a way to get in front of customers unless you have a lot of cash buy and you're going to go, I don't know, onto Facebook or you're going to partner with somebody like Chris where he talks about it and all of a sudden you've got eyeballs on it.

51:30 But the distribution for me is key for all of those reasons. I think you're really early. I love the idea. I'm not super interested in in funding where you are right now, but I think you're on the right path to start proving some of this out. Thank you. >> Yeah. And I would I would love to help provide as much guidance as I can because I think there's some legs to this if if you pull off a few things.

51:49 There's a bunch of questions I want to ask, but in the interest of time, um, well, I'll ask one. How I know this is kind of this is just an idea. You've kind of built it. It's kind of an idea. How serious are you about actually going all in on this? So I'm very emotionally attached to the concept of essentially I've recognized that men have this intention gap that where it's it's not a lack of love and appreciation for their wives.

52:19 It's just sometimes an inability to execute with intention. And so this this hits super home for me cuz I've experienced so many issues in my marriage where just I fall short constantly. I am very passionate about making helping make men better in their marriage. So on a scale from 1 to 10, I guess nine out of passion level, I would suggest that you find there's a company that uses Facebook ads to teach men how to dance.

52:47 Have you seen those ads? >> They like absolutely crush it with Facebook ads. I feel like that's the same type of marketing strategy that you need to use. Whatever they're doing, like go to the meta ads library, see what they're doing, who they're targeting, what they're spending, what do their ads look like, copy that playbook. If you're able to get this into a mobile approved in the in the Apple App Store and you have like, call it 50 paying customers with your churn under 15%.

53:11 Which I don't think it would be that hard to do. I think it's an inevitability that you get to that point. If you get to that point, I'm very interested in investing real money, but I would like to see it at that point. >> Yeah. Yeah, that's fair. >> Thank you. >> Okay. Thanks, >> Jake. That was awesome, man. Thank you so much. I know you're a good husband because your wife let you borrow her journal.

53:32 >> By the way, if you are a diehard fan here on YouTube and you want episodes early or exclusive episodes or unedited full episodes, join my community. It's only five bucks a month. Don't join on iPhone because it'll be seven bucks a month and that doesn't go to me. join on desktop and it's only five bucks a month and you can get exclusive replies from me.

53:48 Early access to all these episodes, exclusive episodes that never make it to the general public and every single $19 business plan is free. Five bucks a month. You can check us out at the link below or on my channel page that's hosted right here on YouTube. Next up, we have Chris Prinster with the Castiron Spa. There we go. It came to me. Cast iron spa.

54:11 >> Little spa day for my cast iron here. and for myself of course. So about a month ago, my wife was standing at the stove and she looked at our cast iron and said, "Wow, it really needs a spa day." And I said, "That's a business, I think." So I uh hopped on my favorite AI platform and looked into it and I'm like, "This seems doable. Seems somewhat doable."

54:36 Yeah. I had a feeling that this business could be something that we all know cast iron is hard to clean. We will clean it with soap and water every now and then. But if you know a family member uses our cast iron to cook tomatoes for example and our our seasoning might get messed up, things might get weird. I'm getting slow on time. And so the idea is that people basically take their cast iron whether it's grandma's that they found in the garage, mail it in, and then I will clean their cast iron in a professional way

55:08 and send it back to them. see, do the first season, send it back, and it'll just be a mail-in business. Long story short, and my plan is to use the cleaning process that's pretty visual, like the before and after effect, uh, for social media marketing. And, um, yeah, that's my idea. It's just an idea right now. I'm one of the idea presenters. That's it.

55:29 >> Okay. So, just to be sure we understand the business, uh, this is like a mail-in cast iron cleaning service or seasoning service or both. >> Yeah. So, I I don't I don't know too much about the industry. I uh I figure that there could be some seasoning aspect to it, but from what I'm seeing is it might be kind of expensive to mail it. I'm not 100% sure on shipping and stuff like that.

55:50 So, and you'd probably want the full treatment to have it work. And I've looked up some companies that kind of do this. They they are companies that sell cast iron cookware. And they what they do is they have a side service of restoring cookware. So I've seen them charging somewhere around like $60 like the minimum point for that when it doesn't and customer pays for shipping and margins are pretty good.

56:17 It does not too expensive to clean. It just takes a little bit of time. >> Okay. So I'll I'll start with the pessimists and end with the optimist. What I don't like about the business is I have an e-commerce background. shipping those is going to cost like 15 bucks each way. Plus, also the just the fact of them taking all the time and effort to ship it for like something fairly quick is kind of imbalanced, right?

56:40 Whereas if it took them 5 hours, they'd be willing to spend 30 minutes to ship it. But if it only takes 30 minutes to clean it, spending, you know, $30 just to ship it plus your fee doesn't really make sense. That's my pessimistic take. My optimistic take is I think this could absolutely crush if you'd be willing to switch the model a little bit. And that's use short form video to show the time lapse of you cleaning stuff, the before and after.

57:00 There's a guy that does this with Blackstones that just crushes. All he does is cleans Blackstone grills and he's monetized that in so many different ways. There's a another girl called like the clean girl where she goes to gravestones and she takes like this spray and she cleans gravestones with a time-lapse before and after. They'll get 100 million views, 10 million views just because it's the perfect type of content for vertical short video.

57:24 So, I think if you somehow find a way to buy like all the crappiest cast irons you can find on eBay or whatever and just make this a content business and leverage it into selling a product like a a cleaning solution for cast iron. I think that would absolutely crush because that's how the clean girl did it. She's actually I know the the guy who started that account, she's kind of an industry plant and he hired her to be the face of the brand and they just sell a cleaning product and they use short form video to sell it

57:49 and they are absolutely cleaning up, pun intended. And I think you could do the same clean girl business model with for guys for that. I think that would absolutely crush. But I just don't like the model as it sits today. But you're in the idea phase, so I think you're still kind of figuring it out. >> I'm sorry >> for what I'm about to do to you. Oh no.

58:07 >> Okay. >> Okay. >> Uh >> you have an idea. You don't have a business, which is totally fine. Yeah, >> that that's totally fine. Chris and I have burned a lot of money on ideas that were not yet businesses. I would be more than willing to put money into ideas. I I love ideas. >> Yeah. But you didn't really come up here prepared. It was like um I think sending cast iron might be expensive in the mail.

58:28 Yeah. I'm not really sure what the economics are. No, I think there is a market for it, right? Like everything that you said was qualified. And so what I would recommend to you is the next time you have a pitch >> in front of 200 plus people and however many eyeballs are going to come on this. Just have a business plan, right? Just be able to speak more to the specifics because as an investor, I would not invest in this right now because I'm really investing in you and you didn't give me anything to say like >> gotcha.

58:51 I want to invest in what was your name? >> I'm Chris. >> Chris. Also Chris. >> I want to invest in Chris, right? Because that's where you are right now. >> The idea is almost irrelevant. It's like, >> do I believe in Chris or do I not believe in Chris? And that that's where I am right now. That's why I I for me it wouldn't fit. So in in Chris's offense, I've done a poor job at communicating.

59:09 There is like a section just for ideas. And Chris had basically no time to prepare for this. So I agree with you, but also I didn't really tell Nick like the full concept of all this. really. So that's on me. So this was all last minute thrown together. You had an idea. >> I found a Friday. Yeah, >> we're just doing this with the Tik Tok content, guys.

59:28 I come on. >> I think what Chris said, you That's what I was going to say. I think you should do that regardless. I think you should basically start making time-lapse videos of you cleaning those things or even ASMR type videos of you cleaning those. That's what I was thinking. >> Um and cuz he saw those ones. I haven't seen the ones that he mentioned, but on my feed I see versions of this, but it's a company that does cars, uh, just super dirty cars, and they clean them.

59:53 It looks amazing. I've seen another one that does rugs. It's captivating. And then the >> Yeah, the mower guy. That guy goes viral. >> Yeah, SB. Yeah, he goes viral every video because he just finds the dirtiest um, front yards and then just says, "Can I basically clean up your yard for free and I'll film it?" So that's what he does. Anyway, you should do that for that and maybe branch out and clean other things.

01:00:18 There's a few things at my house actually. You can come over. >> Yeah. That need cleaning. But you can either then pitch your idea to the people in the comments or maybe you go the cleaning product route. But regardless, you need to get good at making videos for either one. So, I think you should just start that. >> Yeah, makes sense. >> Completely agree.

01:00:39 If you if you post two videos that each get over a million views, which is not as hard as you would think in this niche, it's it would not be that hard. I will invest real money into like you doing something with that content. I don't really care what. But if you're like committed to like actually making content in this niche, I don't care if it's a product or sponsorships, ads, whatever.

01:00:58 I will invest real money in you. >> All right. Thank you. >> Cool. Appreciate you, >> Chris. Seriously though, like definitely do that. And when you do email us, we we want to see that content. That would be awesome. There were a couple time lapse named in here. But they forgot one really big time-lapse goat and he's in this room right now. We have Tyler Munford with his stump grinding time lapse.

01:01:24 That is the ultimate time lapse. Yes. And we were just talking about it. Those crush. So whatever you have, time-lapse it definitely. Okay, Brandon says, "Hype it up." So, obviously that wasn't hyped up enough. So, guys, let's go. We have one more here. James Lincoln with Good League growth. Here we go. All right. I could have used some water for the last two hours.

01:01:51 I didn't want to walk by the cameras. But I will say before I start, I was a nursing assistant in college and that diaper would have been amazing to have on patients. That is a job that I don't think about often. I put it in the back of my mind. Okay. So, I uh I'm James. I own Goodly and we are a marketing agency for home service businesses. Probably the most boring business we'll hear tonight.

01:02:18 I started it as an NBA student three years ago, a little over three years ago, uh was here at BYU. And over the last 3 years, we've grown to just about 1.5 million in annual recurring revenue on a $450 average revenue per customer uh per month. So, pretty low ticket, but took a while to grow. But, uh the nice thing is nobody really makes that much of our revenue.

01:02:41 So, churn doesn't affect us that much. We did that with me being an MBA student and having a full-time job for nearly half of the three years. It's been about 12 months that I've been full-time in the business. Yeah. I don't know. It's not uh it's not anything crazy. It was meant to be like the path to a bigger thing, but it just kind of has grown to become the thing that I'm doing.

01:03:04 Um despite my best efforts to have that not be the case. So, the ask right now is $450,000 for 15% of the business, a $3 million valuation, and that will be used just to blow up the sales team. I've got one salesperson. He's been working with me for three years. He's been the sole salesperson at the company for the last two years. Uh it's been a little over two years since I've sold.

01:03:27 We've got a few SDRs that are overseas and that's really like the only obstacle for us right now is sales. We just need more sales, more people to throw at sales. Uh we've tried remote sales. That's not great. I think we need an inerson sales office and uh I'm looking for the money to do that and a strategic partnership with someone who knows how to do it.

01:03:48 >> Thank you, James. What did your growth do when you finished your NBA? Like once you went full-time on this, what happened to growth? >> I had a graph. I wish I knew the numbers better, but it was pretty steady. Uh through the NBA in the last 12 months, we've gone from I think we were at 70,000 of MR. So, it took us about two years to get to 70,000.

01:04:08 And since I've been full-time, we've gone up to 122. >> So, 52. >> What does your average customer look like? What type of business? What size business? >> Yeah, they're small, right? They're primarily we're all cold calling. That's how we get our customers. And so we tend to deal with smaller businesses that don't have gatekeepers. They're generally doing between 300,000 and 1.5 million.

01:04:27 Some of like the HVAC businesses will do a little bit more because they can do more with the owner operator. But yeah, they're they're owner operator businesses. Initially, we kind of sold to everybody. So, we do have some customers still. We have accounts still that are not home services, but for the last two years, it's been exclusively home services.

01:04:43 >> What's like the 8020? You like bunch of tree trimmers, bunch of or is it all over the map? It's all over the map. >> It's funny. I wish there was an 8020 cuz they say there's always an 8020 and I have yet to find that to be the case. >> So 450 average revenue per month. >> What What were your margins again? >> Our net margin is 45%. >> Wow. Okay.

01:04:59 Are you building this on a platform like high level or something else? Or what's the 8020 of what you're offering for them? Like voice agents, paid ads, >> website SEO and we recently offered paid ads. I think about 10,000 of our MR is paid ads. >> Okay. building a website and helping them get inbound leads. >> Yeah, I would say like truly it's like websites and Google business profile management, right?

01:05:20 Like the SEO isn't all as robust as it probably could be because of the price point. >> What is your churn? >> Uh 3% a month. Net revenue retention is 78% at 12 months. Hit me, dude. I knew I I was a little nervous to get in front of you for this. So, but hit me. I already know you. >> Yeah. >> Yeah. We just tweeted back and forth the other day. >> We did >> love to see the progress.

01:05:40 So SEO and websites, how much do you use AI? We are nearly AI native at this point. I do still have some team members that are driving the AI, but we're we we're building true AI agents at this at this point. >> That do what? >> On page optimization, onboarding, uh Google business profile optimization, posts, new pages, you know. >> Are you doing citations?

01:06:03 >> Not well. >> Okay. >> I'm doing AI stuff. I'm trying to hire, but I've had no luck so far. >> Okay. >> I'll just say what Brandon is not saying. Brandon owns a direct competitor. Am I right here? >> That's what's going on here. Proof that we were in fact blinded these pitches. >> I'm an investor in Brandon's company, but I love what you're doing.

01:06:22 Like I obviously love what I'm doing. I >> more >> No, not more. I'm just >> less less. We're not as good at it. >> It's proof that I love the industry because I have already invested in the industry. So that gives me pause. Uh my business partner's right here. That would be a a very awkward public conflict conflict of interest. The valuation also gives me pause.

01:06:40 I don't even know what to say. What? But I love what you're doing and it that's really good growth insurance. >> What's your favorite coding language? Let's put everyone to sleep. >> Oh man. Just kidding. Here are my concerns. Number one, you said $450,000 to grow. Typically, Brandon, you correct me. If you have a business that's doing well in this space, the cash flows from a business your size can be enough to generate sustainable growth.

01:07:03 Totally. Right. So, my concern is, do you have a low margin business? >> No. 45% net margins. >> Okay. So then why aren't you growing faster? 45%. >> Yeah. >> So you're doing $1.5 million a year. You're netting let's say 650 to 700. Yeah. >> No, above that. 700 to 750. How much are you spending on ads a month? >> Zero. >> Why would you take an investment to like why?

01:07:23 Oh, you don't want to light your money on fire. You want to like an investment. >> Yeah. You know the truth. That's probably it, right? Like 3 years ago was absolutely broke, you know, and so I've got three kids, a fourth on the way, and uh we've been stockpiling cash. hard a year. I get it. Yeah. >> No, but like No, I could absolutely do that. You know what I mean?

01:07:42 And I probably should do that. I think at this point I've been doing this for three years and I'm like I think that there's probably somebody that knows how to do this better than me that could show me how to do it. I'll I don't need to figure it out. I'll let go. Chris, I would be much more inclined to invest if I had seen like you've tried and you've burned some money and you're like, "All right, I figured out the formula.

01:08:04 I just need gas to pour on the fire. I'm not trying to build the fire with your money. Like, I got the fire going." I would just encourage you dig into I don't even know, but the funnels that you have so that when you take the money, it's not being learned how to do it. You're just pouring that money on the fire so that there's growth. >> I think you already have a good thing going.

01:08:23 I think there is a lot of lowhanging fruit that you could do. I do happen to know your industry and business very well. I would be interested in invest in investing if there's a way where I could make sure that you wouldn't become a bigger competitor of my own. It's an aqua hire. >> Yeah. Yeah. Or a merger. I'd like to purchase you right now for $10 million.

01:08:47 >> Done. Let's do it. >> I think there's something there and and I would love to talk more. >> Okay. >> Yeah. I'll follow Brandon's lead on this. I think you're going to get a bunch of customers when this airs and you deserve every bit of it. Uh we all have four kids. You're about to have four. I'm proud of you. You're doing something awesome and you're profiting and I know that feeling of like scarcity, trying to let go of that and trying to like take that step of faith into the darkness and you're you're just about

01:09:10 there. So, I do encourage you to burn some of that money on ads because there are people in this industry finding customers with paid ads, which is a lot more efficient than cold calling. But >> yeah, no, >> you don't need to. But thank you for coming and pitching today. Thank you guys. >> All right. All right. That was everybody. That was awesome. Huge round of applause for everybody that came up and pitched.

01:09:32 Yes. Yeah. So, now we have the people's choice award that everybody gets to vote on and then we'll we'll tally that up. >> I just want to thank you guys for coming. Um it's like I have the best job in the world. I talk about business and I get paid for it. So, I genuinely don't believe like I need any thanks from anyone cuz I have such an amazing job in life.

01:09:57 So, I just thank you. Thank you guys for being here honestly. And if you want to get something out of this, do something like leave here and go start something. Go do something. That is the biggest gift you would ever give to me. Not that I deserve anything or need anything from you, but go like put down the podcast. Go start something. Earn some revenue and your life will be immeasurably better.

01:10:17 You ready? Yeah. >> All right. >> This was good. This was really good. Okay. So, I I'm going to give you the top three starting with third. In third place, we have 38 votes for Utah Veterans Massage. Awesome. Awesome. Okay. So, first and second were tight. Tight. Second place with 100 votes. Pick a path letters. And first place with 102 votes. Go seeds. >> That was awesome. So rad. Guys, we are done for the night. Thank you guys. This was awesome.