VHS to DVD to Online
Building upon Cuban’s idea #3….
Start a business digitally converting home videos and VHS tapes. Different services/products could include creating DVD's, uploading videos to the internet, create video website with streaming files and also to encode tapes in different formats and quality.
Customers with VHS tapes would want to do this because digital copies can easily be preserved, copied and shared and having digital copies is a better alternative than VHS tapes.
The cost to do this is shockingly cheap. Set up is easy, margins are high and there is upsell potential for many of the services. There are also ways to utilize youtube, photobucket and the other file sharing sites. Bring in somebody who can use mac video ending software to give the videos a finishing touch.
The key would be how effectively you are able to market the service. Go online and reach as big an audience as possible including leveraging Craig’s list, newsapaper classifieds, message boards and online community sites. Go to local camera stores and electronic stores and let them offer the service and then do a revenue share with them. The target is mom’s, older couples, people with video’s from the 90’s. Customer service and word of mouth are crucial because this idea is not really defensibly and there are going to be competitions. Luckily, there is a big enough market, and definitely localized enough that a bunch of companies providing this service can co-exist.