$20 Million a Year and This Business Still Couldn't Survive

One of my favorite online stores just went belly up. They were doing $20m/year!

An avoidable waste and shame, but it gave me an idea that people could execute on.

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Here's what happened and what the opportunity is:

What happened: People bought a zillion bikes during Covid. This caused prices to go sky high.

The Pros Closet was in the business of buying back and re-selling used bikes.

They got fat and happy and raised $55m in VC! $55m for an online bike shop!

But then what happened? The bike market crashed and they were underwater on thousands of dirty bikes.

Now they are dead.

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The Opportunity:

An email address is worth about 50 cents per month for a newsletter monetized by ads. Could be less or more, depending on the niche and send frequency.

The Pros Closet had 200k - 300k email addresses...of affluent bikers.

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You do the math.

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There are millions of companies with massive email lists that are under utilized.

There are also countless companies going out of business, and their email list will be on a hard drive in the dump in no time.

That's where you step in. More details here.