Luke is currently a 32 year old salaried employee from a national beverage dispenser repair company in the St. Paul/ Minneapolis area of Minnesota. In his current position as a “machine technician,” he has gained an invaluable skill set that will provide economic opportunity for the rest of his life. He also owns two rental properties, which allow him to live rent-free. During the winter of 2018, Luke started an appliance repair company, with which he is able to earn at least few hundred extra dollars a week. He has invested in tools, building a website, business cards, a business bank account, and more.
Luke’s ultimate goal is to build his real estate and appliance repair service businesses until he achieves true financial stability and independence in his thirties.
In order for Luke to achieve his dreams, he will have to save and work hard for 2-3 years while making sacrifices and budgeting his time. He will need to build relationships in order to grow his business.
Luke’s target customers are landlords and chain businesses that will frequently need repair and maintenance on residential and/or commercial appliances. Luke understands that providing service for businesses may be more predictable and lucrative because there is less variety in equipment and the business need the machines to work in order to satisfy their customer and make money.
Luke will need to find these land lords and businesses by being creative and networking with others. He will need to learn to be OK with rejection and persistently introduce himself to these ideal potential customers and give them his contact information. He will essentially need to act as a “door to door salesman.”
Luke will need to invest in his online presence by uploading various content, and researching and investing in online advertising and keywords. Providing great content and service will gain the trust of those interested in using his services.
Luke will need to provide top notch customer service by providing quality customer service, calling before he arrives on site, being punctual, sending thank you letters, etc. Building a loyal customer base will bring more business through word of mouth.
Luke will need to pay attention to what is most profitable and in 5 years and he should have his services narrowed down to working on just one type of machine. His business needs to be both profitable and scalable.
Luke wants to quit his full time job and work for himself as soon as possible, but needs to have a good amount amount of savings before doing so, as it reduces the risk. He can potentially wind down hours in his full time job or get a different job until he takes the leap of faith into self employment. Luke will need to focus, hustle, and sweat to get more out of life.