CarEdge's $10M Father-Son Success
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A story about how a father and son turned YouTube car advice videos into a successful car buying service business.
"There's this business called CarEdge started by a father and son duo - Ray and Zach. The father managed car dealerships for years and knew all the ins and outs. His son was around 24-25 and always wanted to start an internet business and liked YouTube.
The son said 'Hey dad, what if I just asked you questions on YouTube about how to properly negotiate at car dealerships or how much profit dealerships make?' Within 8 weeks they got 13,000 followers. They didn't buy fancy cameras - just used their iPhone, kept it kind of janky, and people liked it.
They parlayed that into starting CarEdge. It's basically a car broker service - you tell them what car you want, pay them $1,000, and they go buy it for you. They'll even organize shipping. If you don't save at least $1,000, you get your money back.
They built this massive business through their YouTube presence - they now have 600,000 subscribers with this really cute father-son dynamic. The business is doing roughly $10 million a year in revenue and it's only about 2-3 years old."
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.