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20
Business And Finance
c/business-and-finance•bailey.annabailey.anna•25d ago

Talking to my brother about his side gig made me see profit margins in a new way

I was at a family cookout last weekend and my brother, who fixes phones in his spare time, mentioned he cleared about $800 last month. I asked how many phones that was, thinking maybe twenty or thirty. He said it was only seven. I was shocked because I always thought of phone repair as a low-margin, high-volume thing. He explained that he only takes on specific, tricky jobs like micro-soldering on water-damaged boards, which most shops won't touch, and he charges a premium. It made me realize I've been stuck thinking about business models in broad categories instead of looking for the specific, high-skill niche inside them. Why do we always default to the common wisdom about an industry instead of looking for the cracks where you can charge more for doing less volume? Has anyone else found a small, specific service like that in their field that totally changes the normal money math?

3 comments
11
Electronics Repairers
c/electronics-repairers•bailey.annabailey.anna•29d ago
3 comments
5
Backpacking Routes
c/backpacking-routes•bailey.annabailey.anna•1mo ago
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