Semi-Passive Income With No Boss, No Customers, No Employees, No Cost of Goods
You'd Think This Is a Ridiculous Thought
– 3 min read
I almost dismissed my coaching client as a wackadoo.
She reached out some weeks ago asking if I could help her figure out a business she could own that would be semi-passive with no employees, customers or product costs. I blinked three times, tried to keep from chuckling out loud, and almost dismissed her. But then I thought, if I could find this business for her, I could find any business for anyone. Challenge accepted!
Believe it or not, I found something for her!
I came across a textile recycling franchise opportunity. I researched the company, studied the investment, revenue, and profitability financials, and established a connection with the representative at the company that can get her started.
Earn income while keeping discarded clothing out of landfills.
The company I’m showing to my client, and now introducing to you, was established in 1986, began franchising in 2016, and has 34 franchise owners around the country with 12 more projected to open this year. Their mission is to create business owners, help eliminate the 70 pounds of clothing per person in the United States that end up in landfills every year, while giving back to local communities.
“We are a national franchise system that helps prevent unnecessary clothing waste while providing a platform for entrepreneurs to fulfill their dream of business ownership. A green initiative that earns you green, led by our comprehensive and hands-on training and support programs. Our incredible team provides the tools that franchisees need to learn the business and thrive. We’re invested in our franchisees, and we go above and beyond to achieve our goals together.”
As a franchise owner with this company you will begin with 20 bins placed strategically around your city.
Your marketing efforts will raise awareness of the bins, encouraging people in your city to drop their clothing, shoes, belts, hats, coats, etc. into the bins instead of the trash.
The sensors in each bin will alert you through an app on your phone when the bin is full. You’ll empty your bins and transport the contents to a storage location.
When the storage location is full, you’ll contact the national buying partner who will come to your location, load up the contents, take them back to their facility to be weighed, and then pay you based on weight, at an average of 51 cents per pound (Item 19, 2023 FDD).
According to the company’s Item 19 in their 2023 Franchise Disclosure Document, it is possible for you as a franchisee to create a six-figure net income with a semi-passive time commitment, one employee (or run it yourself), no customers, and no cost of goods.
Won’t this hurt organizations like Goodwill or Salvation Army?
These are great organizations that receive clothing donations to fill their stores. That said, even when these options are present in a community, an average of 70 pounds of clothing per person per year still ends up in landfills.
The company also contributes to the communities they serve.
“I absolutely love the textile recycling program!
I really feel it gives students, not only an opportunity to learn entrepreneurial skills through the Education and Employment Opportunities Program, Recycling Fundraising Program, and teaching the students how to run a business, but it also provides opportunities for students to help the environment and work with the community, and really see the impact of their efforts!”
Principal Wynter
Principal at Lyons Creek Middle School
Let me introduce you to this company and let’s explore it together.
If this sounds like the kind of semi-passive business you’d enjoy, let’s talk. I’ll send you some additional information along with a link to schedule a brief call on my calendar. And when your’e ready to learn even more, receive the Franchise Disclosure Document, and begin some due-diligence, I’ll introduce you to my contact at the company to begin a conversation.
Just click the button below and enter “TEXTILE RECYCLING” in the field asking about your industry interest.
Written by
Will is the founder and president of Quantum Franchise Group and Quantum Business Transitions. After 30 years in the corporate world Will retired young in 2019 to devote himself to helping others take control and begin living and working differently.
