How One Man Is Making Insomnia Profitable
Back on August 22, I wrote about the oddest piece of business advice I’d ever read. Today, make room for the Oddest Business category.
Unsurprisingly, this business can be found in eccentric New York City, where residents combine 80-hour business weeks with 70-hour social lives, thus leaving roughly 2.57 hours for sleeping per day. There’s a reason why it’s called the city that never sleeps…because it doesn’t.
Until now, that is. Nicholas Ronco has built Yelo on that very problem, offering therapeutic naps to hard-working employees during the business day. Eighteen months old, and the business is breaking even. He says his inspiration was his fellow New Yorkers, who he’d find napping in parking lots and in bathroom stalls. And as a former suit-and-tie man himself, he knew exactly how straining it could be.
For a 20-minute nap in Yelo, it costs just $15, and if corporate zombies want to double that time, it’s only $28. As word spreads, Ronco expects sales to reach $1.3 million this year.
Wednesday, August 27, 2008 — by Jeannette Di Louie, Assistant Editor of Mt. Vernon Research
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