I was recently thinking about the low costs associated with starting up a small worm farming business and the title of a book I really enjoyed – “The $100 Start-Up” (by Chris Guillebeau) – popped into my head and got me thinking.
What if someone handed me $100 and said “start up a worm farming business from scratch, and AT LEAST double or triple your money (earn back $200 or$300) within 2 months”.
Kind of a neat idea, but it didn’t take long for me to dismiss it as “too easy”. Even a basic worm re-selling strategy (buying in bulk then sell smaller amounts) could likely yield that sort of ROI.
OK…so what if it was only a $50 budget and I had to AT LEAST quadruple it (make $200) in 2 months?
That seemed a tad more challenging…and a LOT more fun! 😉
And thus, the “$50 Worm Biz Start-Up Challenge” was born.
[Before I go any further, I do want to make it clear that thus far this is only a fun thought experiment – not something I’ve literally started or even have plans to start. The idea here is to explore the topic from an educational standpoint, using my decade + of worm business experience to come up with possibilities that offer the best chances of success. Obviously if someone wants to test it out for themselves – fantastic. Let me know how it goes!]
Right off the bat I started mapping out a potential gameplan. The supplies I would likely buy with my meagre $50 (assumption is USD and U.S. supplies and pricing – since most readers/followers are from USA). What supplies I would try to get at no cost. etc
Some possibilities were eliminated right away. Anything relating to worm castings or castings tea just wouldn’t be realistic. A larger starting budget (for the equipment and worms needed) and more time would be necessary to produce enough castings for that to be a viable option.
Obviously, anything involving buying wholesale (bins, books etc) and selling wouldn’t work since we wouldn’t get much for $50.
Various types of services (waste collection, vermi-garden installation etc) could technically qualify – but that would feel like “cheating” to me since most of the ROI wouldn’t directly be linked to the activities of composting worms.
It was clear that some form of worm selling would make the most sense!
And that is the direction that I ran with it.
I’ve decided to turn into into an e-mail series for anyone interested in following along. This way I can share installments gradually over time, and keep readers updated more easily (than, for example, via blog posts). If you are already an RWC subscriber getting signed up for the series is a breeze (won’t require you to confirm your subscription etc) since this is just a sub-list of the main one. [NOTE: Those of you who are new to the Red Worm Composting e-mail list will need to click the confirmation link in the first email you receive in order to get fully signed up – and you should expect to receive a welcome email from the main list as well.]
Just follow the link below to get started:
>> Click Here to Sign Up for the $50 Worm Biz Start-Up Challenge Series <<
(NOTE: Sign-up form will pop-up in new tab)
Stay tuned! This should be fun.
(And don’t hesitate to share your comments, questions and ideas below!)