3 Business Opportunities for Entrepreneurs in ‘Fix It’ Culture

Ever thrown out a damaged espresso maker?

You are not alone. Espresso makers are essentially the most represented product that wants TLC. 

repair cafe data

Supply: RepairMonitor

Subsequent time, simply hit up a Restore Cafe and get your caffeine repair whereas your machine will get fastened. 

Group restore websites like Restore Cafes are in demand as customers flip to fixing their outdated stuff, from vacuum cleaners and lamps to clothes and telephones. In 2023, 55% of British adults selected to restore an merchandise moderately than changing it. For Australians, it’s 79%

On-line communities for useful of us are thriving as nicely: r/fixit, the place Redditors trade recommendations on fixing absolutely anything, has ~300k subscribers.  

Why We’re Bullish on Repair-It Tradition

🎢 On this financial system: With excessive inflation and monetary uncertainty, any cost-cutting measure is an effective measure. Repairing electronics and home equipment as an alternative of changing them can save a median household ~$400 per 12 months – that’s $49.6B saved per 12 months within the US. 

♻️ Greener minds: Gen Zs are stewards of a round financial system, they usually’re fixing stuff to decrease carbon footprints and scale back waste. (Globally, e-waste alone quantities to 53.6m metric tons per 12 months.) 

📜 On the agenda: Native governments are utilizing Proper to Restore legal guidelines to implement sustainable manufacturing and product fixability. Even large tech is enjoying ball.

How You Can Capitalize On It

We see three threads that enterprise builders can comply with to money in on the development: 

Restore as an expertise 

Fixing issues satisfies not solely our survival wants (price saving), but additionally a deeper one: to be ok with ourselves. So faucet into this emotional layer and rebrand repairing as a significant expertise. Just a few concepts to begin:

  • Mindfulness restore: Arts and crafts may be therapeutic. Why not restore work? Lease an area and educate folks to repair their home goods whereas cleaning their minds (suppose: the Japanese artwork of kintsugi). They’ll go house with a usable merchandise and a wholesome self-worth increase. 
  • Child-friendly restore kits: The kids’s subscription field enterprise can mint billions. “Youngsters instrument set” will get 80k+ month-to-month searches on Amazon. Hey, studying real-world expertise with their fingers may be simply what the digital-native era wants. 
  • Area of interest restore studios: Outline your restore area of interest, like vogue (“stitching courses close to me” will get 35k+ month-to-month searches on Ahrefs). You’ll be able to create an interactive expertise the place prospects can select from quite a lot of materials, colours, and designs to offer their repaired gadgets a novel contact.

On-line restore concierge:

Not everybody likes to go to a bodily restore store. So a web-based restore concierge with top-notch customer support would possibly simply make it large. 

You’ll be able to value it by tier so members pay for various bundles of hours and assets. They get assist fixing stuff by way of video consultations and detailed walkthroughs. Once more, it may be useful to area of interest down and deal with bike repairs, electronics, and so forth.

Add one other income stream by unbundling YouTube, and curating a search-friendly database of vetted video tutorials. 

In spite of everything, everybody and their grandpas is wanting up repair one thing on-line.

do different generations look up how to fix things online?

Supply: USAWire

SaaS for restore retailers

Many restore retailers nonetheless function with guide processes, making them excellent prospects to serve with easy-to-use software program.

Finnish startup Fixably, a SaaS that focuses on restore administration, raised $10m this 12 months. 

Because the restore enterprise is hyperlocal, you may stroll into restore shops in your space and ask about their operational ache factors. Then, construct a software program that zeroes in on a particular subject, reminiscent of monitoring spare elements, scheduling appointments, or managing opinions. 

💬 Our two cents: Repairs will not be only for thrifters. These days, it’s for the eco-friendly, the useful, the curious, and everybody in between. So get on it!

Need extra enterprise concepts and data-driven analysis like this that will help you establish and construct a greater enterprise? Try our analysis web page and join our weekly Traits E-newsletter.

Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here