274: The Middleman Method: A Real-Life Example of Turning Trash into Treasure

John made $1614 before 11am the day we recorded this episode. His business model? Buying industrial byproducts, the kind of stuff that’s used for shipping like pallets, cardboard boxes, crates, and so on, and selling them on for a profit. John Wilker started out buying or being given pallets free by businesses that had no need for them and selling them to pallet yards. Realizing the pallet yards were selling them on for a profit to businesses that did have a need for them, John saw an opportunity. “Bottom line is I’m a middleman,” John said. Note: Click here to download John’s top tips from this episode. John hit the pavement and started knocking on the doors of industrial businesses, large warehouses, distributors, and scrap yards. He asked if they had pallets and other shipping byproducts they didn’t need, what they were currently doing with these items, if they needed any items, and explained how he could help. Wanting to operate without storage space and employees John has found the perfect balance between supply and demand. He spends his mornings picking up items from one business and selling them on to another just a few miles away. “It’s quite simple…but has to be set up in the correct manner for it to work,” John said. It’s certainly one of the more interesting side hustles, and it sets the cogs turning to think of other niches that can fit this model. Tune in to hear how John found his first suppliers and buyers, how he sets his prices, and how he transports this stuff without having to store it.