00:06
Can I pitch you two ideas and you tell me which one do you like better?
00:09
Alright. These are two kind of like side hustle ideas that I think could turn into something big, but they're businesses that are not hard to do.
00:18
They would immediately
00:20
make
00:21
somewhere between five hundred k to two two and a half million dollars, probably within a year, a year or two year of doing it.
00:28
Profit like that. Alright. So the first one is
00:32
I'm gonna call it,
00:35
Baller doctors. K. What's baller doctors? Baller doctors is
00:39
you're gonna go to med schools all around the country, and you're gonna put fucking, you know,
00:44
ads slash flyers up. And you're gonna say, hey.
00:48
Before you graduate,
00:50
do you wanna know how doctors become millionaires?
00:53
You know, faster, you know, we have some, you know, the average doctor becomes a millionaire in twelve years. I can show you how it's done in five.
01:01
And you basically host a seminar, and you you definitely lean into the get rich quick stuff because, you know, people are curious, but you you build in enough trust, but you don't bury the lead. You're like, look, Even doctors are greedy. Even doctors are greedy. Even doctors like money might be the the better name for the seminar.
01:16
And you're gonna host a seminar. And basically, you're just gonna break down the business of Most doctors spend all their times with their all their time with head and, you know, heads buried in books
01:25
and think about customer, you know, patient care as they should.
01:29
But at the end of the day, a lot of these guys wanna go out. They wanna own their own practice or they wanna figure out should I be joining a practice? Should I go to a hospital? Should I
01:37
you know, start my own, how do I get the money to do that? How much money did this make? And I think if somebody just made a sort of business in a box, seminar, would they just explain, look, Here's how it usually goes. You put in this much. It takes you this long. Here's a sample P and L with what your costs look like. Here's how you make money in your practice route. Here's how you could do a group Here's how you join a ho if you join a hospital, here's where you are after five years.
01:59
Like, did you know this, by the way? If you're a doctor and you work at a nonprofit, which most hospitals are non profits, for ten years. All of your student loans, you gotta get your money. Yeah. That's amazing. Same if you're a lawyer, if you're my sister did it, if you're a lawyer for
02:13
the government, you get a lot of you get loan forgiveness. Right. So, basically, you just do, like, a personal finance slash business
02:19
crash course for doctors. And you do that all around the country.
02:23
And then some percentage of those, they actually are gonna go to you for, like, you can create the there's they'll pay for the session or they'll pay for, like, the upsells. You might do the session for free. And then you say, by the way, I have, like, the detailed guide with all of the business, like, templates in the in this thing.
02:39
You know, like, you know, what whatever. I got all your I got all your docs and templates, and it's all fleshed out in detail.
02:44
This is, you know, four thousand dollars. And, you know, You could buy that mastermind thing. And, with it comes like a coaching call whenever you're ready, you can always you can always hit me up and I'll help you with this stuff. Alright. That's business one. I could play off this. So let me tell you about this. So there's this blog that I read. It's called the White Code investor. Have you heard of it? Not that, but I'm in a Facebook group called White Code Investors, which is think probably the same thing. It's doctor doctor's investments.
03:10
So if you go to it, you'll see it's a little,
03:13
stale. Like, it's probably been around for a while, and it gets a lot of traffic. I read it because it they just talk about people earning high income and, like, the like the lifestyle and I it's fun. And a lot of my doctor friends read it, and it's incredibly under monetized.
03:30
And interestingly You're not much traffic. I looked at this sheet,
03:34
like four hundred thousand a month. Oh my god. I mean, look at this thing. Maybe six maybe six hundred thousand. Maybe maybe more. I think a lot. But if you look at the the traffic source, it's like a good ass mix. Yeah. It's like six hundred thousand. Should we bleep this out? This is a gym, bro. This is a gym. Why are we why are we giving this demo? Here.
03:50
Here. Let's define how much traffic. Here's how you do it. So you go to the very bottom. You see where it says advertise with us. Click it. Oh, man. This is amazing. So they get,
03:59
a million page views a month.
04:02
So I think And interestingly, if you go to,
04:07
I looked at the stats for the fastest growing YouTube creators this year, as well as the fastest growing TikTok creators, and something like three of the top ten were dentists
04:17
and then a couple other were doctors.
04:20
And it's usually young doctors who talk who make jokes and lifestyle content on TikTok
04:25
all about, like, the doctor lifestyle. So they make jokes out, like, you and I probably don't understand, but I don't know. Maybe like a joke about, like, sleeping at the hospital or something.
04:34
And they they've gotten millions of file followers. I think there's a world where you could do that and sell a high end membership
04:42
that's thousands of dollars and do exactly what you're saying. I completely agree with you. I think this could be a good business. I don't think you could do it. I think it'd be real if you did it full time, you maybe could do it in a year. But,
04:53
yeah, it's a this is a good business. You're part of a white coat invest yeah. I'm looking at their Facebook group. You're part of this Facebook group. I love joining random niche Facebook groups like this and just see seventy seven thousand members.
05:05
I can I I would bet my life? I could make three to five million dollars a year with a Facebook group for doctor investors.
05:13
Oh, it's a okay. Listen. It's even better. It's a closed Facebook group that gives physicians,
05:18
dentists, physical therapists, attorneys,
05:22
pharmacists and other similar high income, high income professionals,
05:27
it basically helps them. But, dude, How did you get into this? Did you tell them that you're a lawyer? Yeah. I just said I was a doctor.
05:33
But look at me. I look I look like Obviously, because you're Indian. Yeah.
05:37
It's a auto accept, bro.
05:40
Yeah. Oh, perfect. Yeah.
05:43
Right this way. I'm gonna be waiting for you.
05:48
That's awesome. This is the I agree with you winning winning ideas. So if somebody wants to make a play on this white coat site. I would love to, you know, buy this website and do something with it. Or if somebody wants to make a group that's like this and go for it,
06:01
DM me or email me or email Sam.
06:04
And let's let's This is a good one. Yeah. And he they also have conferences. So they have a,
06:09
a white coat investor conference. Right.
06:13
It's a this is a good this is I completely agree with you. You know who could have crushed this niche and they didn't want to? Was Buddy.
06:20
What's the YouTuber Ali?
06:22
What's the last name?
06:24
Yeah. He could have done this. Yeah. I agree.
06:27
Yeah, he chose, like, a worse market. He's, like, I'll teach people how to become you. He's, like, YouTubers how to be better at YouTube. It's, like, teach doctors how to be better at money.
06:35
Like, way better way better be if you if you're not passionate about the other one. Alright. Okay. Second item? Alright. So it sounds like you like the first one. Here's the second idea. The family I would say I love the first one. Family Legacy
06:47
Summit.
06:47
Okay. So, basically, there is a huge number of businesses
06:51
that are owned by, you know, kinda like boomer generation
06:56
that they would love if their kids
06:59
would take on their business and, like, kind of grow it. Kids maybe, maybe interested, maybe not. The kid kind of feels like, oh, I should, I guess. That's a smart move, but I just don't care about, you know, where the, you know, making treadmills or whatever we do, you know, like, our family business.
07:15
They're kinda one foot in one foot out. But but even then, they're like, okay. The parent's like, alright, no problem. You don't have to take it over. But, like,
07:22
I gotta do something with this, and you should know how this works in case I croak and, like, you know,
07:27
you should know how the books work and, like, you should know some things. So, basically, what you do is
07:32
through some kind of cold outreach
07:35
to,
07:35
boom, our own businesses,
07:37
you're gonna offer them an invite to the family legacy summit. It is a two day conference in Florida
07:43
where you're gonna have -- It's gotta be Orlando. -- or Jort Lauderdale. Exactly.
07:49
Like, you know, for obvious reasons. The local. Short Lauderdale or Orlando. Yeah. We get it. There's gotta be a buffet, understood. Exactly.
08:00
The Family Legacy of it. All you can eat. Yeah. Of course.
08:06
With new balance white sneakers in the concert. Oh, wow.
08:10
Yeah. So basically Sam Wilson
08:15
socks allowed. Yeah. For first.
08:18
Yeah. Sunday lounge to wear a casual. No. No service. You gotta have your socks on with the sandals unless you're checking in.
08:26
So, basically, you invite people out there, and it's just education. It's just a give, give, give. Maybe there's some ticket thing to cover the cost. Maybe you have sponsors. I think you could cover the whole cost of sponsors. But it's just invite only. Your business has to be of a certain level of maturity. So it's, you know, doing over a million dollars a year.
08:42
You're a family business who's thought about this question of should we pass it down or not, you and your kids come out. So they come out and at that, you're gonna do a couple things.
08:50
This is now this is now the door that opens more doors. So you could upsell them some services. So estate planning,
08:58
accounting,
08:59
whatever. That sort of thing. You could,
09:02
offer, like, upsell masterminds or, like, a kind of a a a master's program, which is, like, for the kid to, like, take it over or whatever, something like that, you could,
09:11
just buy businesses that, like, the kid's not gonna do it. This is lead gen for amazing businesses that you could potentially buy out. And you sell those leads to private equity or you buy them yourself.
09:20
And,
09:23
and, yeah, it's a way to build a power network in, like, one year. You'd have, like, some amazing connections because there's gonna be a guy who owns, you know, a fur, you know, wood, a wood furniture company in Tennessee that makes twenty two million dollars a year And, like, those people will be your buddies because you're actually helping them with, like, a one of their core life problems that they have, which is what do I do with my business and this, like, stinking kid who's not not taking action?
09:47
Do you remember Brent Bayshore? He came on our pod.
09:50
What's his what's the name of his thing? Permanent equity, I think. Something equity. Permanent equity. He's based out of Columbia, Missouri. He has this conference every year called Capitol
09:59
Camp,
10:00
which is a great name.
10:02
And
10:03
How is he doing? He's basically doing this. Is it well, he's buying boomer businesses.
10:08
How's that going? I think it's going phenomenal.
10:10
I think it's going absolutely great.
10:13
And our friend, Siava,
10:15
of which I think we're both investors enduring ventures, is doing a similar thing,
10:20
it's maybe it's a little bit smaller, but it's -- Well, it's just newer. -- also newer.
10:25
Yeah. And they are buying, like, can we talk about what they bought? They've come on the pot before
10:30
and they're pretty public about stuff. So they're buying companies like
10:34
pool, pool construction companies. So it's like,
10:37
you know, pools are this, like, amazing business that you could you could do and they bought one in, like, they sold dolphin pools or something like that. They bought it in Arizona.
10:45
It crushes it they they hired this one operator who's, like, really good who took it over from the the original owner, the the boomer owner, and basically,
10:53
it's grown like crazy, and that's, like, one of their cash cows now.
10:57
And I, and they also bought a internet web, like, I got in the country, like, they don't have, like, AT and T or Time Warner or whatever. They they have, like, local providers.
11:06
And they bought one of those and it's doing well. And I have family members. So my dad's an entrepreneur and my oldest kids. They bought five different -- Yeah. A bunch of them. -- internet service providers.
11:16
And they're all doing, I think, pretty good. And so my dad owns a small business that none of his family is taking over. My father-in-law
11:23
owns a small business who and it is a really it's a killer business. I mean,
11:29
and they,
11:30
he somehow
11:32
the the our our new brother-in-law is now gonna take it over. And
11:36
seeing the turmoil that he had to go through in order to he was like, well, I spent forty years building this thing. And I guess if no one that I love wants it, I'm just gonna shut it down.
11:46
And
11:48
and it was, like, kinda tragic.
11:51
And it's, like, I'm literally willing to give this to a family member and they can make many millions of dollars a year if they wanted to do this. It's just it's it's free. You could have it. And, people didn't wanna do it. And so I've seen this process, and it is like an emotional
12:07
it's it's a really it's it's a huge challenge. And this is very a very interesting market. There's some stats about how many do you know how many boomers are retiring in, like, the next absurd number.
12:17
It's it's absurd. It's like it's like it's like a quarter of the the country.
12:21
Or or a third of the country. One of the biggest wealth transfers of all time is about to happen. It's the, like, that that group of people when they pass down their inheritance.
12:30
It's gonna it's like many trillions of dollars, I think. I don't know if that's that might be hyperbole, but I think it's something like that. Some ridiculous number.
12:37
And then that like a lot of people that are just not gonna have to work, but also don't know what to do with it. And similarly, there's many, many businesses. That was when enduring first pitched it, they were like,
12:46
They just show me the stats. They're like, there are this many boomer businesses
12:49
where they want to retire. They don't wanna run their business anymore, and their kids don't wanna take it over. And, like, those businesses, are up for grabs, and they're, like, too small, like, they're not sexy as a startup, and they're too small for big private
13:01
equity. And so we're gonna be, like, per basically, like permanent equity where they're gonna be they're just gonna buy it and hold these amazing businesses for a very long time, and they keep doing that one after another.
13:12
Like, I think Steve and Zavier, they they've rolled up, like,
13:15
almost a hundred million dollars of business equity
13:19
off of a two million dollars starting equity amount. Like, we we It is crazy. I I invested it
13:28
I didn't have a lot of money when I first invested in. So at the time, it was, like, ten or fifteen thousand. I or something like that that I invested. It was, like, a that was a big deal for me. Tell you what happened with my investment in it. It's just been, like, it's just been growing and growing and growing. No. So they so they were, like, they're like, Sean, like, you helped us, like, think through this idea and, like, they do. Like, I like this stuff. I'll be helpful along the way. So they're like, you know, we wanna offer you, like, if you invest, we'll also offer you, like, an invest, an adviser or, like, like, an advisory grant, that'll just match your investment. And,
13:56
and I think they thought I was gonna do, like You forgot to file a paperwork? No. No. No. No. I think they thought I was gonna put in, like, twenty five k or, like, or like twenty k something like that. So they're like, okay. Cool. You got like twenty k of equity. We'll give you twenty k worth of advisory shares. But I was like a big believer in what they were doing. So I put in two hundred thousand
14:12
And then they were like and they're like, oh, and I was like, look, you don't have to, like, I get it. You don't have to give me two hundred thousand of advisor shares. But Xavier was like, Nope. A deal's a deal. And, like, I was like, if we didn't sign anything and, like, dude, I'm totally okay with it, but he's like, no. Like,
14:28
Like, we will we will honor that. And also, like, I know you'll, like, you'll deliver. And so since then, I've had this, like, immense desire to deliver on that. It was actually the best thing did because he got me to basically work for him for free,
14:41
for for this one, like, for this act of goodwill. I am like, I will I see your goodwill and I raise you ten times goodwill. On my own side. It's gonna
14:49
that's gonna end up being a a great one of your better investments, I would think. Depending, I don't know when you got in. Were you with we both were you both Yes. Then that's gonna I think it's gonna crush. Yeah. Exactly. Like, I I think already, other lists, like, conservatively, that's probably up
15:03
twenty x, you know, like, something like that, evaluation.
15:06
You think that's up twenty x? Because if they go raise now, they basically have, I don't know, exact numbers, but, like,
15:12
somewhere between
15:14
twenty five to fifty million of
15:17
revenue. The the the closer to fifty million in revenue from these businesses now.
15:21
That they've acquired off of two million in equity.
00:00 15:40