What It's About
A rideshare-esque storage solution service.
Business Model
Skills Required
Complexity
Profit Potential
Words of Wisdom
Running this side hustle helped Brandon to learn a valuable lesson: everything breaks at one point or another. They had to come to terms with the fact that not everything was going to be perfect all the time. But each day it gets better, and he thinks that it's definitely taught them patience and (perhaps more importantly) the ability to step back and not freak out about small issues.
Fun Fact
The average American moves about 11.7 times in their life, with most of those moves happening between May and September. Planning your next move? Re-use those cardboard boxes! They’ll last for three uses, or 25% of your lifetime moves.
Notes from Chris
Episode 588
In 1967, Ringo Starr sang the classic line “I get by with a little help from my friends.” That adage is never more true than when it comes to moving! As any college student, past or present, knows, moving is an annual and time-honored tradition. So is the clear-out of empty bottles and the seasonal “where-will-I-put-all-this-stuff-until-next-semester” challenge. While Mike Gargasz and Brandon Gotlieb were able to solve their annual storage crisis, they had lots of friends at Ohio State University who struggle. And what better way to help your friends get by than to start a side hustle dedicated to it? Brandon, a finance student, and Mike, an engineering student, knew that there had to be a better solution than “hope and pray something works out” when it comes to finding willing family members or friends to store furniture and other items during summer holidays… or any other occasion people have to move. They pitched the idea of NXTSTOR as a peer-to-peer marketplace that would help connect people with extra space in their home or garage to rent it out to people who have things they need to store. It was a simple process that would allow users to register as a host, list how much space they have available to rent out, and are paid around $1 per rented square foot. Users upload images of their space and Brandon and Mike speak with the hosts during the in-depth sign-up process. This helps them get an idea of who is trustworthy. Usually, the owner’s insurance covers the contents, but Brandon and Mike are also working to provide an extra set of insurance for the renters which they say should launch fairly soon. Brandon and Mike’s side hustle is only about a few months old, so they’ve been heavily focused on adding hosts and expanding their network. They’ve used everything from Facebook ads, printed flyers, and they’ve even sponsored a theatre troupe. Results are still waiting to be seen from that last one... One small move for friends could be a giant leap for… the storage industry as Brandon and Mike look to scale their side hustle and continue their push into new states and grow NXTSTOR, one host at a time. It helps that they’re still friends and roommates, and can weather any storms as they come up. And next time they’re moving, they’ll know exactly where to store their stuff!
MENTIONED IN THIS EPISODE:
- NXTSTOR: Make some space in your schedule to head over to Brandon and Mike's website to learn more!
- “Uber for Lawn Care” Mows Down the Competition: Four friends take a whack at the lawn care industry’s weeds and find ways to better connect vendors and customers
- Mom-Founded Startup Rents Infant Gear to Tourists: Busy mom in Chicago uses a peer-to-peer sharing platform to earn extra money for her family and help visiting parents get all the baby gear they need for their trip
- Man Buys Tesla, Rents It Out to Cover Monthly Payments: When an Ontario man finds himself dreaming of a car he can’t afford, he buys it anyway—then rents it out half the time to earn an extra $15,000 in 2017
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Resources
CREATE YOUR ONLINE STORE
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GET YOUR FIRST 1,000 EMAIL SUBSCRIBERS
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Quote of the Day
Sponsors & Gratitude
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To infinity and beyond,
