Airbnb und Autoaufbereitung gleichzeitig skalieren

0:00So, I have uh two business. Uh one campground resort. Um >> wait, what? You have two businesses. The first one's what? >> Uh it's a campground like I rent out cabins on Airbnb and Okay. I >> got it. >> Um for that it's about $300,000 and uh profit is about 40%ish.

0:24>> Okay. 120. Got it. Okay. Um, and I have a um also a detailing business. Um, >> like I I detail cars and uh on the main season um I do about um 40,000 a month and um that business I've been running for a year now. >> Okay, congrats. That's pretty good. >> So

0:49>> yeah, how many hours a week does the Airbnb thing take from you? Uh so right now zero because I have uh three people that is working and running the place. >> Okay. >> Um basically I have uh no involvement in that business and the reason I cannot um grow that business is because it is very expensive and I need a lot of capital. >> You mean you have to buy more buy more buildings?

1:14>> Buy more buildings. Yeah. Exactly. I no problem in demand but uh buying buildings. >> Okay. >> That's fine. So to me, I I'll reframe this because normally just for everyone who's listening, they're going to be like, "Oh, Alex is going to tell him that he should shut down one of his businesses." I don't really see like the Airbnb is like right in the middle of like is it investment versus is it, you know, active. That's why I asked how many hours a week you're spending on it. If you were spending five five hours a week or less, I'd be like that's fine.

1:39So basically, it's like if you had a job and then you did Airbnb on the side, I'd be like fine. So your job is detailing. You do Airbnb is what you do with the money after you get after you take it out. Okay, great. So what's the what do you want to do right now? Do you want to grow? Like what's what's what's not happening that you want to have happen? >> So uh the thing is I really want to grow the Airbnb business. Um and I see a lot of potential in it. >> You need more money. >> Um there are like

2:03>> potential in the Airbnb business. Um but the thing is as I said it's very expensive and I don't have the money for it. >> Yeah. >> So I started detailing. >> Yeah. I started detailing to uh make money so that I could buy >> Yeah. >> Airbnb properties, right? So that I could buy campground and or another resort so that I could build uh um build um cabins and stuff. Um but um I I after a year of doing Airbnb I sorry detailing I found out that it's very difficult uh you know and it a lot it's a very time consuming business and um

2:45>> yeah welcome to business. Yeah. >> Yeah. I'm not sure if uh um it is something that is worth doing for a very long period of time. >> What would you do if it's not that? Because the like the the best detailer they do about 2 million a year and that's the best best detailer in like I'm from Canada. That's just like that's the >> Yeah, there's no good details in Canada. Totally.

3:10>> Uh so uh like my question would be should I choose a different vehicle cuz a different business uh to do or should I stick to detailing? >> I mean you've been doing detailing for a year and you're at 500 grand a year man. >> No, not 500 because it's detailing is seasonal. So probably about 250 300,000. >> And what's profit? >> Uh so right now cuz I spend a lot of money on our marketing. Um cuz you know it's the first year.

3:37>> Tell me the number. >> Um so probably I would say about 50 grand a year. >> Uh so I'll say this man. Um do I think it's the wrong business? No. I think businesses can always be improved. Like we could look at like the offer and all these other things to like try and improve it. But if you like the Airbnb thing and you're good at it and I normally wouldn't say this um but I'm just this is me reading between the lines from uh your call. So this is uh me I think answering the question behind your question which is how can I do more Airbnb, right? Does that sound correct?

4:11>> Yeah. >> Okay. >> Yeah. So, there's this thing in real estate called raising money, and you get investors to buy the real estate, and then you manage it, and you give them a return. >> For sure. >> So, I think you should consider doing that and then make Airbnb your full-time thing. It's like you're spending all like I'm you're spending all your time for $50,000 and you're spending almost none of your time for 120,

4:39>> right? >> Yeah. Yeah. >> Right. So I think you just need to raise money. >> Definitely. That makes sense. >> Yeah. Just use other people's money to buy the buildings. Give them a preferred rate of return. After that you split a certain percentage of the profit with them so that you're super incentivized uh to get them a good return and they'll feel safe. So it's like you know you say everything after you know 6% 8% 10% whatever it is um per year we split you know 8020 my way after that or whatever right? And so the blended return is going to be, you know, my guess is 15 or whatever.

5:15>> Yeah, makes sense. Interesting. >> Cool. >> Yeah, because the Airbnb I think I am pretty good at it. And >> yeah, obviously you spend no time doing it and you're making two times the two and a half times the money of your other thing. >> I think you're decent at it. So yeah, I think you just double down on the thing that you're good at. So we did end up eliminating one of the businesses. Who who would have thought? >> Yeah. >> You're like, I've got this thing that I don't like that makes me no money that takes all my time, and I've got this thing that I do like that I'm pretty good at that takes takes none of my time. Cool. So, then let's do more of that. And you're like, I don't know how to do that, so I have to make the money to do that. It's like, or you can use other people's money.

5:55>> Interesting. Yeah, definitely. >> This was a good chat. >> Thank you. >> Yeah. Thank you, Alex. >> You bet, man. Happy to help. Congrats, bro. >> Thank you. Thank you. >> Today is the first day of the rest of your life. >> Thank you. >> You bet, man.