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Nikonomics - The Economics of Small Business
Welcome to Nikonomics—the show for entrepreneurs and Wantrapreneurs, ready to tackle the toughest roadblocks to their first million.
Nik brings firsthand experience, having bought and sold over a dozen businesses, achieved multiple 7-figure exits, and generated over $100 million in revenue.
Each week, he blends humor with real insights from successful entrepreneurs, sharing growth strategies, deal insights, and unique business ideas you won’t find elsewhere.
Ready to turn your entrepreneurial dreams into reality? Hit play and let’s get to work.
Follow me on Twitter here: https://twitter.com/CoFoundersNik or @CoFoundersNik
Nikonomics - The Economics of Small Business
24 - How a Reddit Post Led to a $1.3M Cleaning Business with Neel Parekh
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Join me, Nik (https://x.com/CoFoundersNik), as I interview Neel Parekh (https://x.com/SMBNeelParekh), the founder and CEO of Maid This, a fully remote cleaning franchise company. From his beginnings in private equity to hiking to the Everest Base Camp, Neel's journey is nothing short of remarkable. He transitioned from tech investing to launching a cleaning business that has now grown to over 25 locations nationwide. Neel's Los Angeles operation alone generates $1.3 million in revenue with impressive margins, thanks to his innovative use of technology and automation.
This episode is packed with insights into scaling a service-based business, the intricacies of franchising, and maintaining a work-life balance. Neel’s adventurous spirit and dedication to creating a business that supports his lifestyle are truly inspiring.
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00:36 Meet Neil Parekh: Everest Adventurer and Entrepreneur
01:26 Journey to Everest Base Camp
05:55 From Everest to Entrepreneurship
07:11 The Birth of Maid This Cleaning Company
09:11 Scaling the Business and Franchising
11:42 Customer Acquisition Strategies
17:41 Residential vs. Airbnb Cleaning Markets
18:36 Customer Acquisition Costs
20:34 Franchise Growth and Strategy
25:44 Valuation and Startup Costs
28:23 Franchise Support and Long-Term Vision
31:00 Rapid Fire Questions and Final Thoughts
