Shaan pitches two side hustle ideas he thinks could generate $500K–$2.5M in year one. The first is “Baller Doctors” — a seminar business teaching doctors personal finance and practice economics. The second is a “Family Legacy Summit” — a conference for boomer business owners figuring out succession. Both discussions expand into real examples: the White Coat Investor blog, Enduring Ventures (Sieva’s company), and Shaan’s own advisory share story.
Speakers: Shaan Puri (host), Sam Parr (host)
Shaan Pitches Two Ideas [00:00:00]
Shaan: Can I pitch you two ideas and you tell me which one you like better?
Sam: All right.
Shaan: These are two kind of side hustle ideas that I think could turn into something big — but they’re businesses that are not hard to do. They would immediately make somewhere between $500K to $2.5 million, probably within a year or two of starting. Profit.
Sam: I like that. All right.
Idea One: Baller Doctors [00:00:15]
Shaan: So the first one, I’m going to call it “Baller Doctors.” What’s Baller Doctors? You’re going to go to med schools all around the country and put up ads — flyers — and say, “Hey, before you graduate, do you want to know how doctors become millionaires faster?” The average doctor becomes a millionaire in 12 years. I can show you how it’s done in five.
Shaan: You basically host a seminar. You lean into the get-rich-quick angle a little, because people are curious — but you build in enough trust, and you don’t bury the lead. You’re like, “Look, even doctors like money.” That might actually be the better name for the seminar.
Shaan: You’re going to host a seminar and break down the business of medicine. Most doctors spend all their time with their heads buried in books, thinking about patient care — as they should — but a lot of these guys want to own their own practice, or they want to figure out: should I join a practice? Should I go to a hospital? Should I start my own? How do I get the money to do that? How does the economics work?
Shaan: I think if somebody just made a “business in a box” seminar — look, here’s how it usually goes. Here’s a sample P&L with what your costs look like. Here’s how you make money in private practice. Here’s how a group practice works. Here’s what your trajectory looks like if you join a hospital versus if you go independent. After five years, here’s where you are.
Shaan: And by the way — did you know this? — if you’re a doctor working at a nonprofit, which most hospitals are, for ten years, all of your student loans get forgiven.
Sam: That’s amazing.
Shaan: Same thing if you’re a lawyer working for the government — my sister did it. So basically, you do a personal finance and business crash course for doctors, all around the country.
Shaan: Some percentage of those attendees are going to actually pay you. You could do the session for free and then say, “By the way, I have a detailed guide with all the business templates — all your docs and everything fleshed out. It’s $4,000.” And it comes with a coaching call whenever you’re ready. You can always hit me up.
Sam: All right. That’s business one.
Sam Discovers White Coat Investor [00:02:30]
Sam: I can play off this. So there’s this blog I read called the White Coat Investor. Have you heard of it?
Shaan: Not that specifically, but I’m in a Facebook group called White Coat Investors, which is probably the same thing. It’s a doctors’ investment group.
Sam: So if you go to it, you’ll see it’s a little stale — it’s probably been around for a while — but it gets a lot of traffic. I read it because they just talk about people earning high income and the lifestyle, and my doctor friends read it. It is incredibly undermonetized.
Sam: And interestingly — you know how much traffic? I looked at this. Like 400,000 a month.
Shaan: Oh my god.
Sam: Maybe 600,000. Maybe more. But if you look at the traffic source, it’s a good mix.
Shaan: Yeah.
Sam: 600,000 — should we bleep this out? This is a gem, bro. This is a gem. Why are we giving this away?
Shaan: Here — let’s find out how much traffic. Here’s how you do it. Go to the very bottom where it says “Advertise with us” and click it.
Sam: Oh man, this is amazing. They get a million page views a month.
Shaan: And interestingly, I looked at the stats for the fastest-growing YouTube creators this year and the fastest-growing TikTok creators, and something like three of the top ten were dentists, and a couple of others were doctors. Usually young doctors who make jokes and lifestyle content about the doctor life — jokes that you and I probably wouldn’t understand, like sleeping at the hospital or something. They’ve gotten millions of followers.
Shaan: So I think there’s a world where you could build that kind of audience and sell a high-end membership for thousands of dollars — and do exactly what you’re describing.
Sam: I completely agree with you. I think this could be a good business. I don’t think you could get there part-time, but if you did it full-time you could probably do it in a year. This is a good business.
Sam: You’re part of White Coat Investors?
Shaan: Yeah, I’m looking at the Facebook group right now.
Sam: You’re in this? Yeah, I love joining random niche Facebook groups just to see what’s going on. 77,000 members. I would bet my life I could make three to five million dollars a year with a Facebook group for doctor investors.
Shaan: Okay, listen — it’s even better. It’s a closed Facebook group that gives physicians, dentists, physical therapists, attorneys, pharmacists, and other high-income professionals financial education. How did you get in? Did you tell them you were a lawyer?
Sam: Yeah, I just said I was a doctor.
Shaan: Obviously, because you’re Indian.
Sam: Yeah. That’s awesome.
Shaan: Winning.
Sam: Winning. So if somebody wants to make a play on the White Coat Investor site — I would love to buy that website and do something with it — or if somebody wants to build a group like this and run with it, DM me or email Sam. This is a good one.
Shaan: Yeah. They also have conferences — a White Coat Investor conference. This is a good market.
Sam: You know who could have crushed this niche and didn’t want to? Our buddy — what’s the YouTuber? Ollie. What’s his last name?
Shaan: Yeah, he could have done this. I agree.
Sam: He chose a worse market — like, “I’ll teach people how to be better YouTubers.” Teach doctors how to be better with money. Way better.
Shaan: Way better. If you’re not passionate about the other one, okay. All right. So it sounds like you like the first one. Here’s the second idea.
Idea Two: The Family Legacy Summit [00:06:10]
Shaan: I’d say I love the first one. The Family Legacy Summit.
Shaan: So there’s a huge number of businesses owned by the boomer generation that they would love to have their kids take on and grow. The kid is maybe interested, maybe not — they kind of feel like “I guess that’s a smart move, but I just don’t care about making treadmills” or whatever the family business is. One foot in, one foot out.
Shaan: But even then, the parent is like, “All right, you don’t have to take it over — but I’ve got to do something with this, and you should know how it works in case I die. You should know how the books work.”
Shaan: So basically what you do is through some kind of cold outreach to boomer-owned businesses, you offer them an invite to the Family Legacy Summit. It’s a two-day conference in Florida.
Sam: It’s got to be Orlando or Fort Lauderdale.
Shaan: Exactly. For obvious reasons.
Sam: Fort Lauderdale or Orlando, yeah, we get it.
Shaan: There’s got to be a buffet, understood.
Sam: All you can eat, of course.
Shaan: With New Balance white sneakers as a sponsor.
Sam: Sunday loungewear. No socks, no service.
Shaan: You gotta have your socks.
Shaan: Basically, you invite people out there and it’s just education — give, give, give. Maybe a small ticket price to cover costs, maybe sponsors cover the whole thing. But it’s invite-only. Your business has to be of a certain maturity level — doing over a million dollars a year, a family business that has thought about whether to pass it down or not. You and your kids come out together.
Shaan: And at the summit, this is the door that opens more doors. You can upsell services — estate planning, accounting, that sort of thing. You can upsell masterminds or a kind of “master’s program” for the kid who’s taking over. You could also buy the businesses where the kid isn’t going to do it. This is lead gen for amazing businesses you could potentially buy, and you sell those leads to private equity — or you buy them yourself.
Shaan: And it’s a way to build a powerful network. In one year you’d have incredible connections, because there’s going to be a guy who owns a wood furniture company in Tennessee doing $22 million a year — and those people will be your friends because you’re actually helping them with one of their core life problems: what do I do with my business, and this kid who won’t take action?
Brent Beshore and the Boomer Business Wave [00:09:00]
Sam: Do you remember Brent Beshore? He came on our pod. What’s the name of his thing?
Shaan: Permanent Equity. He’s based out of Columbia, Missouri. He has a conference every year called Capital Camp — which is a great name. And he’s basically doing exactly this. He’s buying boomer businesses.
Sam: How’s that going?
Shaan: I think it’s going phenomenally. And our friend Sieva — of which I think we’re both investors — Enduring Ventures is doing a similar thing. Maybe a little smaller, but also newer.
Sam: And they are buying… can we talk about what they bought? They’ve been on the pod before and they’re pretty public about their stuff.
Shaan: So they’re buying great businesses. Pool construction companies — pools are this amazing business. They bought one in Arizona called Dolphin Pools, or something like that. It crushes it. They hired one really good operator who took it over from the original boomer owner, and it’s grown like crazy. That’s one of their cash cows now.
Shaan: They also bought a local internet service provider — you know, in parts of the country that don’t have AT&T or Time Warner, you have local providers. They bought one of those and it’s doing well.
Sam: I have family members — my dad is an entrepreneur — and they bought five different internet service providers, and they’re all doing pretty well.
Shaan: Yeah.
Sam: My dad owns a small business that none of his family is taking over. My father-in-law owns a small business too, and it’s a killer business. Somehow our new brother-in-law is going to take it over. And seeing the turmoil my father-in-law had to go through — he was like, “I spent 40 years building this thing, and I guess if no one I love wants it, I’m just going to shut it down.” It was kind of tragic. He was literally willing to give it to a family member who could make many millions of dollars a year — it’s free, you could have it. And people didn’t want to do it.
Sam: So I’ve seen this process firsthand, and it is emotional. It’s a huge challenge. And it’s a very interesting market.
Shaan: There’s some stats — do you know how many boomers are retiring? It’s an absurd number. Like a quarter of the country, a third of the country. The biggest wealth transfer of all time is about to happen. When that generation passes down their assets, it’s many trillions of dollars. A lot of people who are suddenly not going to have to work — but also don’t know what to do.
Shaan: And similarly, there are many businesses that will have no one to run them. When Enduring first pitched me, they showed me the stats: there are this many boomer businesses where the owner wants to retire, their kids don’t want to take it over, and those businesses are up for grabs. They’re too small to be interesting as startups. They’re too small for big private equity. So they’re going to be like a Permanent Equity — they’re just going to buy and hold amazing businesses for a very long time.
Shaan’s Enduring Ventures Investment Story [00:13:30]
Shaan: Sieva and Xavier have rolled up almost $100 million of business equity off of a $2 million starting equity amount. It is crazy.
Sam: Really?
Shaan: I invested when I didn’t have a lot of money. At the time it was $10,000 or $15,000 — I don’t remember exactly — but that was a big deal. Let me tell you what happened: it’s just been growing and growing.
Shaan: They were like, “Shaan, you’ve helped us think through this idea and you’ve been helpful along the way, so if you invest we’ll also offer you an advisory grant that matches your investment.”
Shaan: And I think they thought I was going to put in $25K or $20K max. So they’re like, “Cool — you get $20K of equity and we’ll give you $20K of advisory shares.”
Shaan: But I was a big believer in what they were doing, so I put in $200,000. And then they were like… “Oh.”
Shaan: And I was like, “Look, you don’t have to. I get it. You don’t have to give me $200,000 of advisory shares.” But Xavier was like, “Nope, a deal’s a deal.” We hadn’t signed anything. I told him I was totally okay with it. But he said, “No — we’ll honor that. And I know you’ll deliver.”
Shaan: So since then I’ve had this immense desire to deliver on that. It was actually the best thing he ever did, because he got me to basically work for him for free. For this one act of goodwill, I’m like — I see your goodwill and I raise you ten times goodwill on my side.
Sam: That’s going to end up being one of your better investments, I would think. Depending on when you got in — were you both in early?
Shaan: Yes.
Sam: Then that’s going to be… I think it’s going to crush. I think already, conservatively, that’s probably up 20x. Something like that in valuation.
Shaan: You think it’s up 20x? Because if they go raise now, they have — I don’t know the exact numbers — but somewhere between $25 to $50 million of revenue, closer to $50 million, from all the businesses they’ve acquired, off of $2 million in equity.