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Business Ideas #88: Reinventing Consulting, Founder's Mental Health...

Plus Meet the Chicken Tender Billionaire

Welcome to Half Baked, the newsletter serving up innovative business ideas faster than Humane’s AI pin flopped.

Here’s what we’ve got for you today:

  1. Business Idea💡: Unlocking expertise hiding in plain sight

  2. Drunk Business Idea 🍻: Encouraging us all to get outside more

  3. Just The Tip 📊: Founders Face Huge Mental Health Challenges

  4. The Moneyshot 🤑: Meet the Chicken Tender Billionaire

BUSINESS IDEA | STARTUP

Part-time Consulting Platform 🤝 

Paidfreelancing

Available Domain: Mentorshipp.com

💡 TLDR: A platform for employees to act as consultants part-time while keeping their full-time job

1. Problem/Opportunity

The Problem/Opportunity: Consultants get a bad rap. Sometimes this treatment is unwarranted. But in some cases, it’s perfectly warranted.

The problem is that consulting firms send out a bunch of kids with no work experience to give you advice on your business. It never works. But getting counsel from a real expert in an area can be hugely beneficial to you or your business. The problem is these experts are actually working in that field in which they are an expert. So let’s create a business to solve this.

Market Size: The global Consulting Services market size was valued at $296bn in 2023.

2. Solution 

The Idea: A platform for employees to act as consultants part-time while keeping their full-time job

How it Works:

  • Employees, who are experts in their field, sign up for the platform, confirm their credentials and set their hourly rate

  • Businesses who are looking for expert insights go to the platform and can search for different experts they wish to talk to and can arrange a call with them

  • Once the call is completed the business pays the employee and in exchange for handling the payment, tax implications etc. the platform takes a fee

Go-to-market: Start in a market where demand outstrips supply and businesses want to get up to speed on, like AI

Business Model: Transaction fee

Startup Costs: $0

3. How You’ll Get Rich 💰

Exit Strategy: Sell to a large player in the freelance space, like Upwork

Exit Multiple: Both Fiverr and Upwork are trading around 2x LTM revenue currently

TOGETHER WITH BUILD THE KEYWORD

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DRUNK BUSINESS IDEA

Touching Grass Tracker

With summer just around the corner we all need to spend more time outdoors, “touching grass“ as the kids like to say.

So why not gamify the experience with our touching grass challenge?

Track everytime you’ve gone outside and try and get a streak going.

JUST THE TIP

Insight 📊: Founders Face Huge Mental Health Challenges

Starting a business is really, really hard. A Sifted survey shows that nearly half of startup founders are mentally exhausted, and ready to call it quits.

Unsurprisingly, it’s affecting their mental health.

Business Ideas:

THE MONEYSHOT

Meet the Chicken Tender Billionaire

Sometimes the simplest ideas are the absolute best. And Todd Graves’ story proves exactly that.

Back in the early 90’s, when Todd was in college, he came up with the concept for a restaurant that only serves chicken finger meals. His professor gave him the lowest grade in the class.

But Todd still believed in his idea, so he approached a number of banks to get financing for his idea.

Every single one rejected him.

So Todd decided to take matters into his own hands and save up the money himself. He moved to California to work for an Oil Refinery and from there he moved to Alaska to work as a fisherman.

With roughly $150,000, he remodelled an old bike shop and opened his first restaurant in 1996.

At first, he decided to name it Sockeye’s Chicken Fingers. However, one of his friends convinced him to change the name to something more personal and close to him, so he decided to name the restaurant after his dog.

Raising Cane’s was open for business.

Over the years the business has thrived by sticking to some core principles. They keep the menu small and simple and are maniacal about keeping quality high. The business also has only a small number of franchises to ensure quality is consistently high.

Today, the chain has grown to over 800 restaurants with $3.3 billion in annual sales. Todd still owns around 90% of the restaurant, making him the 207th richest person in the world according to Forbes who value his fortune at around $9.1bn.

Not bad for selling some chicken tenders.

FROM THE FANS

#HalfBakedBizIdea

Bruno Skvorc coming in with a super interesting idea 🤯

DM us or use #halfbakedbizidea on Twitter (or X I guess) to get your idea featured in our newsletter.

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