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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
142 - How Mattress Firms Make Money Despite Empty Stores with Nick Hancock
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Join me, Nik (https://x.com/CoFoundersNik), as I interview Nick (https://x.com/mattressguy_). We dive deep into the surprisingly complex world of the mattress business. Nick, owner of Direct Outlet Mattress and part of a family with stores across North Carolina shares his unique insights.
We discuss everything from the less glamorous side of old mattresses, to the economics of running a mattress store even comparing his approach to giants like Mattress Firm.
You'll be fascinated to hear how he's leveraging Twitter to build a successful brand and reach customers in unexpected ways.
Questions This Episode Answers:
How do these businesses make money?
What other overhead expenses would you have besides lease?
How do you acquire customers for your mattress store?
What is your approximate customer acquisition cost?
How much does it typically cost to start a mattress business?
Enjoy the conversation!
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This week we covered:
00:00 The Mattress Business Journey
03:05 Family Dynamics in Business
05:56 Understanding the Mattress Market
08:51 Customer Acquisition Strategies
11:47 Expanding Product Offerings
15:05 The Importance of Quality
17:58 Navigating Business Challenges
20:55 Building a Brand on Social Media
23:51 Future Plans and Online Expansion
