I think we’ve all experienced the loss of someone that’s very special to us. Perhaps it was a grandparent, aunt or uncle, parent, or maybe even a brother or sister. Whatever the relation, saying goodbye to someone forever is never easy and you want to be sure that you continue to remember them, even in death.
I know I started this post out a little morbid, but I wanted you to understand that death is very real in everyone’s life. And, if that person meant a great deal to you in life, you’ll certainly want to make sure that their grave site remains clean and respected. Also, wouldn’t it be nice if there was always a fresh set of flowers at the site as well? This is exactly the service that I want to talk about today.
Delivering and Maintaining Flowers At The Grave
Since many cemeteries do not allow fake flowers on the plots, fresh flowers are the only alternative. However, if you’re not able to get to the grave site every day, chances are that your flowers aren’t going to last very long, and they’re going to look shabby on the grave of your most cherished friend. Nobody wants that.
This is where your business comes in. You could provide the flower delivery and flower maintenance of each plot in the cemetery. The close friends and family of the deceased will most likely pay the monthly fee since it means a lot to them, and all you have to do is deliver the flowers and then water them a few days a week.
Of course, this business would start out as a one man show and not be passive at all, but the simple duties could easily be transferred to an employee over time.
If you were not at all associated with the cemetery, you would need to haul your own water source. This could merely be a tank placed in the bed of a truck, which might cost $1,000 at the most. To save on costs, you should just use well-water so then your only expense would be the electricity in the pump. This should only cost you $5 a day. Then there is the obvious expense of gas in your travels to and from the cemetery. Assuming that you live close, though, your expenses should be no more than $7 a day. Finally, the flowers; if you consistently order flowers from the same place, I’m sure you could get quite a good deal. Flowers that are typically $25 could probably be sold to you for $15.
- Initial expense of the water tank: $1,000
- Water expense: $5/business day
- Fuel expense: $7/business day
- Flower Expense: $15 per bouquet
Your income completely depends on how many clients you acquire. If you have only one client, I’ll guarantee that you won’t be in business very long. However, what if you had over 1,000 customers? Your operation would definitely be a success.
How much could you charge for your services? Well, to place flowers on the gravesite, I would think you could get at least $40 ($25 for the flowers, and $15 for the delivery. Then, if people would like you to maintain their flowers for the long-term, the going rate is approximately $35 per month (which could be advertised as only a dollar a day!).
Let’s assume that within a year, you are able to acquire 500 customers. All of them initially buy flowers from you and have you maintain them as well. So, each year, you receive an initial $40 payment as well as $35 a month.
- 500 * $40 for the flowers = $20,000
- 500 * $35 * 12 months for maintenance = $210,000
- Total Yearly Income: $230,000
So How Much Are The Profits?
$230,000 sounds like a ton of money, but how much of that was eaten away by expenses?
- Initial Tank Expense: $1,000
- 250 days * $5 per day for water = $1,250
- 250 days * $7 per day for fuel = $1,750
- $15 * 500 bouquets = $7,500
- Total Expenses = $11,500
Total Profits = $218,500
These are some pretty awesome profits! Now, let’s say you didn’t really want to drive the truck and water the plants anymore. You could easily pay somebody $35,000 a year to do it for you, and you’re still earning $183,500. Now that’s some pretty awesome passive income!