I love getting ideas for content just from every day experiences!
And today I had quite the revelation, while I was sitting in line for a staple of Canadian cuisine....
A Tim Horton's coffee!
Let me frame this so that people that are unaware at how 'big' Tim Horton's is in Canada can appreciate it.
In every town and city across this country, there is Tim Horton's. The company started back in the 60's by it's namesake Tim Horton. the hockey player, and his business partner Ron Joyce. It started as a simple donut shop but has become a fast food behemoth in the past few decades. To say this is 'as Canadian' as it gets is an understatement...
Anyways, no matter what time of day, afternoon or evening you will experience a line up. Not only in the restaurants themselves but also through their drive throughs. And it's not just during the morning rush other, I'm not joking when I say...Any time of the day, there's a line up at Timmie's.
Their menu has expanded from simple coffee and donuts, to sandwiches, wraps and their world famous chili (it's not that great but it's ok lol). But still, the majority of the people in those line ups, are there to spend their twoonies ($2 Canadian coin) on coffee.
I just sat there in awe today thinking about this business model...
The customer of Tim Horton's doesn't spend a lot at the restaurant when they go there. However they may pull up multiple times a day for their coffee, and each time they are doing so they are spending pocket change.
Here's the kicker....They do this EVERY DAY!
This takes residual income to a whole new level lol Think about that for a second, a Tim Horton's customer spends their cash multiple times a day and keeps coming back...Day after day after day after day....
I'm not sure how much truth there is to the rumor about a Tim Horton's franchise. But from what I heard, they cost about a million bucks to start and the franchisee ends up making their investment back in a year or two lol. From selling coffee lol
Mind blowing!
So what does this have to do with anything here on the blockchain or for anyone thinking of building an online business?
Other than...Create a product that builds a cult like following LOL
But for me, it's about micro payments! You see, this is a fantastic business model for a coffee business, but how can we build that into the experience here on Hive or elsewhere online?
Tips?
The tipping economy to me is a fascinating example of this...I'm a big listener to live streams and podcasts and the 'Super Chat' that YouTube has implemented has regular listeners to a show, tipping throughout. It's never big money either, just a buck or two and they tend to be regular contributors to the show.
Or heck, even closer to home...Something that is being built right here on chain from @brianoflondon and his V4V projects. This caters perfectly to a micro-payment / transaction that goes to support the creators.
I think there is so much potential for us to build income streams here on chain that we still haven't even begin to think of....It'll be so interesting to me to see if use cases from an offline world, starts to become a regular thing here on chain.
What about you?
Where do you think micro payments / tips can be leveraged and used here more?