Podcast Episode Details

#157 - Instagram Food Drops Making $200k a Week, Chrome Extensions That are Crushing It & Open Salaries

Season 6 Episode 31

Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP):

MFM #158

• Rewarding hustle: MFM is hiring two kids to do video production because they took the job without permission. They heard Sam complain about needing a recording studio and offered to do the work https://twitter.com/DylanJardon/status/1366274333858017282?s=20. 
• This is how you get the job you want. Don’t send a resume. Do the work instead. Don’t ask for permission.

Food topics

• The food companies of Instagram: Companies mycookiedealer.com, 1-900-Ice-Cream, and Allie’s Banana Bread are crushing it on IG with food drops that sell out in seconds.
• Why it’s big: These work because it’s at the intersection of many trends: cloud kitchens (no need for expensive restaurant infrastructure), DTC (no need to get costly distribution deals and shelf space) and have virality baked into them.
• My Cookie Dealer is estimated to be doing $200k per weekly drop. This is a potential $10m business today.
• Formula: Sam breaks down how these companies are going viral, and how you can copy.
• Make a side ingredient the main thing (cheese, cookie dough)
• Make it in an unusual color (rainbow bagel, rainbow kettle cork, green ketchup, cloud bread)
• Make it huge (huge sundae, massive pizza cookie, sushi rito, massive kit kat)
• Frankenfood: combine two different foods (cronut, pancake cereal, donut cereal, cream cheese, bell pepper, desert burger, ramen burger, spaghetti donuts, fairy bread)
• Food allergy or remove stuff from it (vega ice cream, Banza)
• Make junk food or simple food ultra-fancy (tater tots, mozzarella sticks)
• https://www.youtube.com/watch?v=2IFYt20QON8 
• Opportunities: So what’re the opportunities here? The guys break it down.
• #1: Rolling up these brands like IMGM did for meme pages or Thrasio is doing for ecom. A collection of profitable IG food businesses lowers costs (everything can be done in the same kitchen) and lowers risk (if one fad food falls out of favor, the business doesn’t die).
• #2: Guy Fieri of IG. Food reviews are extremely popular when paired with the right personality. Guy Fieri is the Gen X version of this. Dave Portnoy is the pizza version of this. Who will be the millennial/Gen Z IG/TikTok star?
• #3: Cold chain. Cold chain demand is skyrocketing with the increase of foods being shipped. Further, any company that can make the process of shipping these foods easier, will win.
• #4: “Eat this, Not That” for 2021. Extremely popular book series from ~15 years ago. There are similar pages doing this on social media today, but no one has made a big business out of it yet.

Tiller money

• Spreadsheet plugins: The guys have talked Chrome plugins and browser extensions in the past, but an overlooked niche is spreadsheet plugins.
• Plugins are great businesses because they are sticky and capitalize on an existing platform and user base. They can be light, simple tools that can gain huge adoption quickly. 
• Tiller Money (https://www.tillerhq.com/): Personal finance nerd Sam loves the simplicity of this plugin. Most people already manage their money on a spreadsheet...  
  

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  Published on 4 years ago