How She Makes $50k a month from Mini-Mailboxes? | Lisa Song
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- čas přidán 31. 05. 2023
- Welcome to this video featuring Ryan and Lisa Song, as we dive into the fascinating realm of mailbox rental businesses. Lisa shares her wealth of insights and practical tips for aspiring entrepreneurs venturing into this industry.
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Lisa highlights the significance of strategic space configuration. An open area capable of accommodating over 1000 mailboxes is optimal, with each bank holding 220 mailboxes. This setup ensures ample capacity to meet customer demands and maximize profitability. By offering various mailbox sizes, such as small ($20/month), medium ($30/month), and large ($35/month), Lisa attracts a diverse range of customers.
In addition to mailbox rentals, Lisa has successfully tapped into additional revenue streams. All her employees are public notaries, enabling her to charge $10 per notarial act. Customers appreciate the convenience of on-site notary services without requiring prior appointments. Moreover, Lisa offers packaging and shipping services, providing added convenience while generating pure profit.
Lisa's savvy business approach is further exemplified by the low startup costs she enjoys. Repurposing a blank office building, she collaborated with a local carpenter to construct custom-built mailbox units at an estimated cost of $3900 per bank of 220 boxes. With high occupancy rates, Lisa anticipates earning around $7000 per month per bank of boxes.
Join us as we delve into the captivating world of mailbox rental businesses, guided by Lisa Song's expertise. Tune in to gain valuable insights and inspiration for launching your own thriving venture in this dynamic industry! - Zábava
Thank you so much for stopping by! We appreciate your support!
I love this business model - can you share info about your course? ❤
Such a great video Lisa!!
How can we get hold of you?
@@SBluxury thank you Sarah! Love your real estate videos 😍
Thank you for the video. Please, provide the course link. Thank you.
I owned a shipping store for nine years and it is interesting that Lisa only talks about the positives and not the negatives in the business. I belonged to a trade association and we met periodically to discuss all of our problems and how we handled different situations. Almost all of the store owners that I networked with are out of business or have sold their stores because they got burnt out. I could write a book about this business - the government paperwork you have to do when you sign up a new mailbox client to make sure they are not scammers and still we had some who turned out to be crooks and police got involved. The physical exhaustion of packing up shipments. The inability to go on vacation because you have to keep the mailboxes accessible for customers. The frustration of a UPS store (of course they get much better deals) opening up in your neighborhood so now your biggest supplier has turned into your biggest competitor. The problem of finding and keeping employees, etc., etc. Good luck to her, but it is not a bed of roses!
where can i contact you for more information/questions ?
It's a business and as with any business it's also part gamble (meaning a bit luck is involved). All of the things you mention is typical for any business. Nothing is handed to you and every person who made it have not given you the ugly side of their ventures.
@@ninesux4667 x2
You should create an ebook LMK when.. Blessings!
@bjm9071, Great comments. Sounds like real-world experience. Could you let us know what association you belonged to? (or perhaps the largest one you recommend.) Trying to do financial projections for business plan and finding unbiased data has proven difficult. Thank you.
We love to see the Mailbox and shipping industry represented in such a good way! It really is a great one!
Absolutely!
So tell me what Postal Mate Training is all about? Is that the co
Lisa trained with? And what was that cost to set up including legalities?
@@StuStevens-rn7rb PostalMate is a Software designed especially for retail pack and ship centers. We are the most powerful and easy-to-use multi-carrier shipping, point-of-sale, and mailbox management system according to our users. Our CZcams channel is dedicated to Software use videos that help you learn new features and train those who use the software in the store.
Another way to expand this business is a mail forwarding business. That's perfect for snow birds and others who are in another country for part of the year. These businesses can open the mail and scan and email to the customers. It's a great model and definitely needed.
What I love is how normal this space looks. Nothing fancy or out of the ordinary. Thanks for the share
Get some vending machines in there if you want to make more surface level income off the top. Restock from Sams or Costo as needed.
That street business address circumvention to the PO Box address issue is actually really valuable. Fantastic job
USPS allows to use their address and a suite number as the address to your PO Box number, therefore it looks professional an not just like a PO BOX address.
I pay $35 every 3 months for a small PO Box which is cheaper than paying the $20 per month but I guess you get a better service from a private shipping company and also the convenience of the sending packages from different providers.
@@gerardgarcia7127 Good to know! Yeah, I think it's just a matter of convenience in the service's packaging that ups its value proposition. Thanks for sharing, Gerard :)
@@JessieJussMessy You are welcome!
Especially for expats who have no U.S. address. It’s hard to keep your money in America if you live say, in Europe. Many retirees who have sold their homes, etc., to retire outside America find it difficult to keep their money in a U.S. bank. This is a great option. 👏👏. A very smart, Davy young woman. 👏👏👏
Wow! Lisa has inspired us to run our Mail & Shipping store here in Utah! Thank you Ryan for this Awesome video!
Im also in utah, maybe ill be your competitor 🤔
@@TheGreatEscape77 Let's Connect 🤝
How much did it cost you to get it off the ground? How did you advertise your services?
Any update? I'm Interested in this myself.
Lisa is brilliant! Love that the fixtures fall under the category of furniture and that she used a local carpenter and not a contractor for that task. That is ingenious. Bravo.
She’s great!
What is the advantage to that?
@@Hillary4SupremeRuler General contracting involves a lot of paperwork and costs a lot
Man, she is attractive, intelligent, hard working, and nice. What a woman!
You interrupt too much. Let the guest talk freely, then maybe add in your thoughts.
I would love to open something like this!! Coming from owning restaurant business this seems so much less stressful!
I also own a restaurant and literally have been thinking the same thing lol
@@AmericanDaders I hear 2 different things this video is saying its profitable but I see on other video comment that its not profitable:/ I wish they would do couple if interviews why mailbox / shipping business failed and why it didn’t. If you ever find any good information please let me know:)
I know exactly what you mean! After 3 years of successfully running a restaurant I said there is no way I should be working so hard for money. Unless you’re very passionate about food the burn out takes a toll on you. It was the best decision we made leaving the restaurant business. Now we make more, travel more, and a lot happier. However serving the community, seeing regulars multiple days a week, and the smiles our food brought to peoples faces were worth every penny. I hope you find your happiness and find a less stressful successful business!
220x$25mo mailboxes = 5500
@@crackerjackB I agree with you! I said wait $7,000????
$35 Large x 10 = $350
$30 Medium x 60 = $1,800
$20 Small x 150 = $3,000
5 rows = $5,150.00
One of the best videos I’ve seen, thanks to you both 💪🏽
6:00 more like $4700 a month per bank of boxes, if you count the actual # of boxes and actual stated rental prices and 90% occupancy.
I’m glad I found this video! Very informative, definitely has my wheels turning!
Loved this video!!! Thank you for all the helpful info! My wife and I are looking to start this same thing very soon. Awesome video, awesome quality too!!
It's okay if they don't agree with this type of investing, many of us do agree. I have 20 positions in high growth stocks. I'm getting 15 dividend pay checks, however I'm up 125 % this year. About $650k this yr, good dividend paying portfolio, although I use an F.A so buy as much as you can and wait for the rebound. Only the brave gets rewarded in these times!
wow!!! how are you able to achieve all that given that the market has being a mess most of the year?
It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold which is why a consultant is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit.
I could really use some guidance, haven't been doing so great as of late, who is this person that guides you.
Even the best investors lose money when the market is down or when they make a decision that doesn’t turn out as hoped I can't actually leave details on here, you could do that yourself her name is ’Lisa Ann Moberly’ she's quite known
Someone has been watching minority mindset? I have no debts, and want to invest.
Thank you Ryan. I love your channel. So many great ideas 💡❤
Mini self storage, Absolutely 💯 love ❤️ it. 1,400 sqft can't beat that
She's so soft spoken and very inspiring. ❤ yes please teach us.
your style and grooming is ON. POINT.
This was so thorough; really appreciate the content and information
Great to hear!
Lisa Song Sutton may just be one of my business mentors one day! Very empowering interview! Thank you both!
Yo Ryan! It was good to meet you at the store. I was waiting for this video to come out
Very informative. Thanks
I used to work for a Franchisor of these types of businesses over 15 years ago. These things are not low cost startups. It was a minimum $120k just to get it going. That is not counting the extra money you needed in reserve so you can ride out the first 3 years before they become profitable. Many of them have closed down since and the Franchisor went out of business as well.
This was amazing! Thanks for providing this content!
Glad you enjoyed it!
I love that this is local 😊 this is such a great business opportunity
She's done really well and has a good character.
Not quite a "passive" business but added it my list of things to do if I ever win the lotto or get enough money to start up some businesses.
This kind of business seems more location dependent than most though - at least starting up.
Loved video!! Good info finally a stright forward and honest idea!
Glad it was helpful!
Grossing $50,000 a month and netting $50,000 a month are two different things. This caption is misleading.
Your correct. In few of these type of videos I hear them ask this question: "how much do you bring in month". That term "bring in" can mean gross or net. They should absolutely use terms profit and gross for clarity.
What a great video! Thank you Ryan and Lisa for your very valuable insights!! My mouth is salivating! Curious, is this business a franchise like Mail Boxes Etc type?? Or is this her own business?? Would love to learn more about the process of starting one. Where to buy the mailboxes, how to set up accts with the other carries..... WOW! Awesome!!
Set your weight and size limit for Drop Off Packages before it gets overwhelming
this is great opportunity for state like NV, where you have to have business address for those own home businesses. At least that's what I remember when I lived there.
Running business these days are a lot more challenging, but happy to see small businesses thriving!
Good luck!
I appreciate her knowledge of her market...why her mentor is more successful.
Please do a course I would totally buy it !!!!!!
Really great and transparent information here. Thanks Ryan and Lisa!
Glad you enjoyed it!
I like this business model, it's giving me ideas...
Pretty good. I don't remember you mentioning competition. For example dealing with franchises like the UPS store.
theres enough space for everyone to win. there are a ton of mail stores thriving right now. remember magazines. there were 50+ magazines for each niche. we can all make money. good luck to you friend.
Yes but not everyone has open available space.
Loved the video! I ran some numbers and it actually comes out to $4,720 not around 7k for the 4 mail sections, going at a rate that she mentioned of $25 each for smaller (120 total), $30 for medium (48 total), and $35 each for the large (total). And even if you charge $30 for each which makes 176 total you only come out to $5,280 for each of those installations.
shes genuis,. Love it and love her work ethic
She’s great! 🙌🏻
Thank you for sharing about your store.I need help with mine.
She's totally in to him. The chemistry is on fire 🚒🔥
Lisa is awesome!!
I didn’t realize shipping businesses like this one take packages from many different providers including USPS. Shipping businesses should do a better job of marketing to the local community.
Looking for consistent customers with longevity, that's why it's targeted marketing.
They do
@@queenbluntressspeaks2695 I don’t see it my local community. I’ve never received anything either via mail or email in regards local shipping businesses.
When I want one I have to go looking for them. I never see advertising for them.
@Iris_Collins that is true ,unfortunately it's not a business that are advertised very often . Totally service base industry . Customers are heavily depending on Google to guide nearest location .
This is awesome thanks for sharing👍
Where can you buy these mailbox fronts?
Hi, excellent video. How do you set up the accounts with UPS, FedEx, and USPS which are part of the main services you offer and how long it takes to have these accounts set up? what is the POS software you use?
This is top notch information. Good work. You earned that subscribe like a Pro!
I was thinking of this idea for building that's abandoned in my neighborhood. It was a office suites type building but no-one has been in it for like 10+ years. The owners aren't even in the state smh. I wondered if this type model could be profitable but now seeing these numbers I'm even more interested. The building once fixed up could be a pretty awesome looking commercial office space so I believe it would be a good draw for those looking to have a business address that looks good on google maps and such. Thanks for doing the video!
I'm in central Florida and want to know what the startup costs were? How much should I expect to shell out upfront and how long before I can expect a ROI?
Most of these retail locations require 5 year leases and high amount of funds in your bank account. I called a new building by dectaur and 215. They told me 99 % of people dont qaulify and they require large bank balance and 5 year lease to even rent.
Same here in Massachusetts
This comment needs to be pinned!
No always the case. It could be a few months rent as reserves. It will vary by landlord. Have a great business plan and perhaps get a small business loan.
This is so cool! Where do you purchase the mail boxes from?
Brilliant!
@LisaSongSutton - Thanks for sharing your experience. I see quite a few folks asking where the mailboxes can be purchased from or who the manufacturer is, would be nice if you could help with any detail?
Ryan this was fantastic. Thank you for making this video. I know you are generating content from asking questions throughout this interview, but you interrupted the poor lady about 5 times trying to ask a new questions, while she was still answering the previous ones. No disrespect, just something I noticed. Thank for the video!
talk more about boxing and sending packages....that part seems like it can be tricky...holidays...deadlines...parcels with custom size box needed, etc. ty
this is great business especially if she add return shipping from major retailers
Nice, simple and real. Not one those get rich quick with AI and here's how, videos.
Awesome video. How do you find the right location to open up a store?
Thank you for your time new sub
She was on Brad Lea's channel too for some other biz. you go grrl!!!!
I'm sold. Love the video from beginning till end. Very informative.
Sold on what ? Lol
Thats what I call beauty and brains !
Super interested
These are great prices too. USPS wants $55/m for the smallest PO box.
This depends on post office and location. The least I paid for a PO box was the price of the key, since the town I was in at the time had no street mail delivery.
Awesome video.
I could see doing this. I'm interested in learning from her, keep us posted about that!!
Will do!
Awesome video! Thank you so much Lisa and Ryan. I’ve seen a lot of virtual mailboxes with real street addresses, curious to know how that May effect the demand for an in person mailbox?
Those are mainly for those that want an address in a place they don't live. They do mail forwarding or electronic scanned mail. Ex out of state real estate investors etc.
for this you need to be local so you can come and pick up the physical mail and packages
perfect side hustle. no stress
Seems like an excellent business.
Hey Lisa,
I'm a former mailman-USPS. I just opened my packing and shipping company. I have locked in with Fedex so far with a contract. UPS, Amazon and USPS seems the hardest to get a contract with so far.
Hi Jerry, I was thinking of starting this business but only PO Boxes (about 600) and few vending machines for boxes and supplies. No counter, minimal staff - just person to fill boxes from 9a-1p. As ex USPS what are you thoughts on that set up?
@@carlhammill5774 You have to be mindful that the USPS has PO Boxes for monthly rent. As far as private mailboxes, we can make more money because not every vendor or businesses send mail to PO Boxes. Private mailboxes offer a physical address. Vending machines and supplies are a great start to a successful business. I have a store open and upcoming.
USPS also offer street address for PO Box customer , called Premium PO Box Address which is free. Cool idea though
The interviewer is rude. He needs to learn how to listen, and not interrupt the young lady while she’s speaking. If he was interviewing me, and he would interrupt me, I would let him know right away to stop interrupting me when I am speaking.
great Video, Thanks
Glad you liked it!
She's a real entrepreneur.
I'm interested in setting a business like this, where can I get information on how to set it up.
She needs to create a course on this...because I would definitely buy. I love this concept!
people only start making courses when the money dries up
@@kennypowers2341 Not true my man online courses can scale much better than some business models. I think this is one of those businesses.
I would buy the course though
@@harounben342look in the description
Why would she sell a course and dry up her own business? The people selling courses aren't making decent money in the original business
Good Mornings
😊 liked the little into. Where do I find info about how much to start and complete this business.
QUESTION: What happens if a customer wants to upsize their mailbox, but wants to keep the same box # for address purposes?
Change the number plate with another one, or give them on on the end and change it.
Buy another box and keep both
Just label the new box with the old number. Done.
Gonna end up with numbers all over the place if this happens enough. Organizational mess.
Doesn't change the number of the old one, the second one is still numbered and named accordibg to the new organization but linked to the customer within their software system.
shes smart and beautiful I just love it
I don't see the link in the description to Lisa's outline of starting such business
Thank you so much💕
You’re welcome!
Great video
Let the person speak
I tried to open this type of business but fedex and UPS no longer outsource their service with independent shipping centers. So how is she's able to get these partnership contracts with these shipping companies?
Did she say "partnership"? At 9;45 she said low corporate rates. Any business can get low corporate rates.
Is this no essentially a UPS store? Do they outsource independently?
maybe she’s grandfathered in
Another video I watched said FedEx/ups won’t if you are in a certain radius from their stores.
I read somewhere recently, about a state, can't remember which one, was banning the use of P.O. boxes and virtual office space, as a registered business location. Just beware of your local and state laws. Hopefully it's not a precedent that spreads like wildfire.
If you find out where this article was published, please lmk!
@@JessieJussMessy I remember now! The state of Montana. I think it might have just been virtual office space.
@@du24pont70 Oh, I see. So, basically the setip Lisa has here is basically a virtual office space with the mini mailboxes (as they're called in the original title) that can act as registered business locations, right? And if so, then that Montana law would technically make this illegal if she setup there? Thank you also for getting back to me so quickly!
@@JessieJussMessy yes, I believe that would be the case. It would resolve a couple issues I suppose. Fraud would be one and then laying claim in a state you don't physically live or work in would be the other. Using them for tax purposes. I'm not so sure this applies to her business though. I mean, locals obviously use them too.
@@du24pont70 Interesting... I really appreciate your responses! I'm wishing you well in your life 😊
great idea
Glad you think so!
How do you get the addresses recognized by USPS and the city?
She’s really smart and good at articulating herself
Pageant training
Obviously we know that’s not pageant training - ppl create, she’s creating
@@robertmorgan2219 she was a pageant?
Imagine how much she'd make with a Rub & Tug......
14:30 It's good to know that, for your business, it's a street address rather than a PO Box number.
Would love to know what her total set up cost (out of pocket) until the business started to pay itself.. AND what her rent cost is? What is her monthly net?
Great video I just found my new job!
Best of luck!
I didn't get the notary act thing because here in my country, they just get a percentage of the value of the thing they are writing their notary act on.
Find a business that only requires 3 hours a week of your time and go enjoy your life.
Probably stupid question but how is new inbound mail placed in each box? Is someone doing this daily? Multiple times a day? Are they just loaded in from the front with a master key? Or is there a master key and USPS that's delivering the mail just come in and fill them for you??
Which came first for this business owner? The mailbox store, then real estate portfolio and then the venture capital fund?
The max profit on the 220 units is $5150 based on the prices she give which is still really good
Revenue
Gross revenue, not profit. Probably pays the bills, and everything else, revenue stream wise, is profit.
Yea
@@Iris_Collinsit's extremely good
For me the difficult part is just the money to starting the business! The rest it’s easy!
$10 for notary is crazy low price - I am very impressed with her business.
yeah except you can get stuff notarized for free from your bank....
Notary fees are set by the Secretary of State. You cannot charge more than they will allow per notarial act.
Would be smart to set up by a bank to catch all those customers who don’t have accounts but still need a notary
Hi! We love your store!! Can you please tell me how much each mailbox unit is? Did you buy all 200 of them for $3,900, or is that just for one on the clusters? Thank you so much