Business idea · Agency
Local Market Research Services
Local Market Research Services is a consulting service that provides local businesses with insights into market demand and competition, helping them identify profitable niches and strategies. It was pitched on My First Million, hosted by Sam Parr and Shaan Puri, in the episode "The Side Hustle King: "Make $20K+/month without money, luck, or experience" (aired April 1, 2026).
At a glance
| Podcast | My First Million |
|---|---|
| Hosted by | Sam Parr and Shaan Puri |
| Episode | The Side Hustle King: "Make $20K+/month without money, luck, or experience" |
| Aired | April 1, 2026 |
| Category | Agency |
| Real companies on the episode | Tote Rentals, RV Rentals, The Tiny Post, Repplet, Gubdiels, Wall Printer |
The problem it solves
This service helps entrepreneurs avoid the common pitfall of entering saturated markets without understanding local demand dynamics.
How it makes money
The business could charge a one-time fee for detailed market reports or offer subscription-based ongoing consulting services.
Skills you need
Skills needed include market analysis, research methods, data interpretation, and effective communication to present findings to clients.
The market, and why this works now
Local businesses increasingly rely on data analytics tools like Tableau to understand market trends and consumer behavior. A solid first-revenue move could involve partnering with local chambers of commerce to offer free workshops on market analysis, positioning the service as an authority while generating initial leads. However, the business may face challenges in acquiring clients due to the high customer acquisition cost associated with building trust and demonstrating value in a competitive consulting landscape.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- Tote Rentals
A service that rents out plastic moving boxes instead of traditional cardboard boxes, providing an eco-friendly solution for moving.
- RV Rentals
A business model that involves renting out RVs through platforms like RVshare and Outdoorsy.
- The Tiny Post
A snail mail subscription service where customers receive heartfelt letters and handmade artwork each month.
- Repplet
A business that creates custom vibe-coated apps for medium-sized businesses, focusing on tailored solutions to meet specific operational needs.
- Gubdiels
A website that sells liquidation items, allowing individuals to purchase returned products at a fraction of their retail value.
- Wall Printer
A printing service that uses a specialized printer to create large murals and images on walls for businesses.
Where this idea came from
Podcast: My First Million, hosted by Sam Parr and Shaan Puri
Episode: The Side Hustle King: "Make $20K+/month without money, luck, or experience"
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.