What Side Hustles Will Always Be in Demand? 7 Timeless Businesses in NYC (Backed by Data)

TL;DR

Seven of New York City's longest-standing businesses reveal side hustles with lasting demand, judged by the Lindy effect: the longer a business has survived, the likelier it keeps going. While 20% of businesses fail in the first year and two-thirds fail within 10 years, categories like eyewear (a $215 billion market by 2025), hospitality, delis, construction, bars, and pharmacies endure. The host, who owns 24 businesses, breaks down how to copy each model, charge a premium, and start small. Read on for the playbook.

Transcript

how do you know if a business will be successful or not you follow the data or What's called the Lindy effect basically the longer a business has been in existence the more likely it will continue to be in business so while 20% of businesses fail within the first year 23ds fail within 10 years so we' come to New York City to show you these seven bu... Read More

Key Insights

• The Lindy effect suggests that the longer a business has been around, the more likely it is to continue thriving.
• Eyewear remains a lucrative industry due to ongoing demand for prescription glasses and sunglasses, with a projected market size of $215 billion by 2025.
• The hospitality industry, including hotels and Airbnbs, can be lucrative if approached with unique concepts and experiences, leveraging modern marketing strategies.
• Therapy is increasingly recognized as a necessary service for maintaining mental health, with platforms like BetterHelp offering accessible options.
• Small delis with proprietary products and e-commerce capabilities can thrive by focusing on unique offerings and strategic distribution partnerships.
• Construction businesses have enduring demand, especially those specializing in real estate development and specialized trades, with opportunities for acquisition.
• Bars and nightclubs can succeed by creating unique experiences and leveraging pop-up concepts to attract crowds and generate buzz.
• Pharmacies and specialty stores can compete with large chains by offering curated, unique products and personalized customer experiences.

Questions & Answers

Q: What side hustles will always be in demand, according to the data?

The video points to seven of New York City's longest-standing businesses as models for enduring demand: eyewear, hospitality (hotels and Airbnbs), delis, construction, bars and nightclubs, and pharmacies or specialty stores. These are chosen using the Lindy effect, which holds that the longer a business has already survived, the more likely it is to keep going. The host frames these as categories with built-in, lasting demand that entrepreneurs can copy.

Q: What is the Lindy effect and how does it relate to picking a business?

The Lindy effect is the idea that the longer something has already existed, the longer it is likely to continue existing. Applied to business, it means established categories with a long track record are more likely to endure. The host uses it to argue that copying the longest-standing businesses is a safer bet, noting that while about 20% of businesses fail in the first year, two-thirds fail within 10 years.

Q: Why is the eyewear industry considered such a durable market?

Eyewear stays in demand because people will always need prescription glasses to see and sunglasses for time in the sun, so the need keeps evolving rather than disappearing. The video cites a total addressable market of $215 billion by 2025, with roughly 89.7% still located in retail brick-and-mortar rather than online. It uses Moscot, which started as a pushcart vendor and grew into an iconic brand, as the example.

Q: How would the host build an eyewear or accessory brand today?

He says the only way to make real money on an accessory like eyewear is to charge a premium, and the only way to charge a premium is to have better distribution than competitors so more people buy and perceive you as valuable. The fastest route he suggests is partnering with someone cool, which is why many celebrities have sunglass or eyewear lines. The advice is to figure out who or what could be your 'cool factor.'

Q: Should you start with a hotel to get into hospitality?

No. The host calls hotels a 2.0 or 3.0 move and warns they are expensive because they are real estate categorized as a business, often with tiny margins. He recommends starting with a cheap Airbnb (1.0), making it more unique, then scaling to multiple properties and eventually a hotel. He shares that this is how he actually entered hospitality himself.

Q: What is a 'magic moment' and why does it matter for Airbnbs and hotels?

A magic moment is a specific, memorable spot guests want to photograph, like an Instagram-worthy feature that makes a stay feel special. The video shows examples from his friend Rob's builds, including a backyard movie theater made with a pull-down projector screen, a disco ball over a table for a bachelorette party, and an all-pink property with a pink pickleball court. The point is that guests now want a stay that feels unique, not generic.

Q: How did the Algonquin Hotel use marketing to stand out?

Open since 1902 under Frank Case, the hotel leaned on unique, buzz-worthy ideas, including a hotel cat and a $10,000 Martini, which was essentially a normal martini with a diamond resting in the bottom instead of ice. Beyond the gimmick, Case also gave discounts to struggling authors to keep the 'cool kids' in town. The video uses it to show how memorable experiences and PR stunts drive attention in hospitality.

Q: How can entrepreneurs use modern marketing in traditional industries?

The core lever is a 'cool factor' plus strong distribution: partnering with celebrities or influencers, creating unique experiences, and generating buzz to reach a premium audience. The video shows this across categories, from celebrity eyewear lines to attention-grabbing hospitality stunts and magic moments guests want to share. The takeaway is to take a proven, timeless business model and layer modern marketing and distinctive experiences on top.

Summary & Key Takeaways

• The video explores businesses that have stood the test of time, demonstrating the principles of the Lindy effect, which suggests that longevity predicts continued success. It highlights industries like eyewear, hospitality, and construction that maintain consistent demand.

• Key strategies for success include focusing on unique product offerings, creating memorable customer experiences, and leveraging modern marketing techniques. The video also emphasizes the importance of mental health and the role of therapy in supporting entrepreneurs.

• The content provides insights into how businesses like delis, bars, and pharmacies can thrive by embracing niche markets and strategic partnerships. It encourages entrepreneurs to consider acquisition as a pathway to entering established industries with built-in demand.