"There's always money in the Banana Stand".
Everyone has bill's to pay - whether you have a salary or you "eat what you kill".
Warren Buffet wrote a lot about what he called building a financial moat. A business or series of business that protect "your castle".
Buffet selects the companies he invests based on these principles. For example - buying a railway is considered recession proof by most estimations. It would be next to impossible to compete with or recreate the rail system. Other industries such as commericial painting (he owns Benjamin Moore), auto repair, or even real estate are good candidates. In good times people fix up their houses - but even more people move. In bad times people fix up their houses rather than moving - but some need to move because of economic conditions.
Having a little money machine that requires little maintenance is everyone's dream. Vending and laundry used to be huge passive income opportunities that required only a few hours a week.
The Frozen Banana Stand is a reference from Arrested Development - it was the families financial moat. It provided summer employment for the kids and brought in cash profit. In my family its Furniture Paint.
Some people do farmers markets part time or sell custom items online - some get into seasonal businesses like Ice Cream to try to make some side money.
When a lot of development and very little income is part of your new idea - you will thank yourself for creating your own Frozen Banana Stand. When you find your "little side hustle" - hang onto it!
Ryan Geddes is an entreprenuer located in Toronto Canada. When he's not writing, hes helping with House&Canvas Furniture Paint.
