According to The Sun, In the world of side hustles, one entrepreneur has discovered a lucrative niche that transforms trash into substantial cash. TikTok user Go Trailer has shared how his dumpster rental business generates an impressive $20,000 a month.
A Dirty Business with Big Rewards
While dumpster rentals may seem like a dirty business, they offer a fast and scalable way to make significant money. Go Trailer started with just three dumpsters and has since expanded his fleet, now aiming for nine to eleven.
“Our journey began with three dumpsters, and we’re rapidly growing,” the entrepreneur explained on TikTok. This side hustle has proven profitable largely because he has crafted a well-thought-out business model.
Revenue Model and High Demand
Go Trailer charges based on the size of the dumpster and the duration of the rental. He reports renting out approximately 10 to 13 dumpsters each week, which puts him on track to earn nearly $20,000 monthly.
What’s even more impressive is his profit margin. “I’m currently enjoying a 72% profit margin,” he revealed.
Getting Started: Initial Investment and Strategy
Starting a dumpster rental business does require some upfront investment, as you’ll need to either own a dumpster or purchase one. In another TikTok post, Go Trailer mentioned finding a trailer for $800, but with some effort, you might find a cheaper option.
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To kick off cash flow, he recommends renting out trailers multiple times a week for between $40 and $55 per day. While this model is profitable on its own, Go Trailer suggests reinvesting the earnings into acquiring additional trailers.
Scaling Up: Investing in Dumpsters
By continuously reinvesting your profits, you can eventually purchase the larger dumpsters, which are where the real money lies. Each time you rent one of these larger containers, you can charge significantly more.
For instance, a 15-yard dumpster rental for seven days costs $495 on the Go Trailer website. Additionally, you can increase your revenue by charging a small fee for extra rental days.
Go Trailer charges a modest $15 for each additional day, further enhancing his income stream.
Important Tax Considerations
As with any income-generating activity, it’s crucial to remember that any extra income earned must be reported to the Internal Revenue Service (IRS) to avoid hefty tax bills. Keeping accurate records and being diligent about tax reporting will ensure your profitable side hustle remains a rewarding venture.
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