Trash Can Becomes Premium
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A story about how a basic ice bath recovery method using trash cans has been transformed into a premium $2,000 product called Ice Barrel.
"I was at my friend Andy's house - he lives a few doors down from me. He sold his company Student Loan Hero for $60 million. During lunch, I saw this huge barrel and asked what it was. He told me it's this company he just bought a large stake in and was helping them get their operations right.
It's just an ice barrel, but here's the shocking thing - it's $2,000. The traditional way athletes do ice baths is using trash cans or massive plastic buckets. The problem is if you're a bigger person, you can't push down on those because they'll collapse and you get stuck.
Ice Barrel solved this problem, and while $2,000 seems expensive, you don't need to sell many to make serious money. If you're selling 40 a day, that's $80,000 daily revenue. Times 30 days, that's $2.4 million a month, which comes to $36 million a year.
It's similar to what Yeti did with coolers and WeatherTech did with floor mats - they took forgotten, basic products and made them premium. When it comes to health and fitness, the difference between $500 and $2,000 doesn't matter as much to people who are serious about recovery."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.