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Most businesses fail. In fact, 2/3 of all businesses go under within 10 years.
But what about those that don't…
Watch to see the 6 businesses with the highest success rate so you don't have to take such a risk!
If you wanna take action, check out our free tool to help buy a Laundromat here:
Also, click here to check out Flippa – my favorite place to buy or sell an online business:
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All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
#flippapartner
Codie. I have to say. Out of all the financial YouTube content I have binged. Yours has saved my dream. Every video has me excited and motivated. I have a way to goβ¦. Never learned anything about money. Bad debtβ¦. But if I stay on track. I will be in a decent place within a 12-18 months. Thank you.
At the age of 23 I purchased a residential Assisted Living Facility or βSenior Care Homeβ with no money down and a $350k loan and sold it for $1.3M. It helped fund our next businesses as well. Thanks for sharing Codie!!! Love your content!! I always get excited when people talk about senior care because itβs not that common amongst the business community.
I have had a lawncare business for the last 12 years, and if I get out of it, it won’t be because I have gone under. Most of the businesses you named in this video have as good a chance of failure, as they do of success. the number one reason any business goes under is financial mismanagement. This ranges from using company funds for personal purposes to not paying the people who are working for you. It’s hard to pay people with money that isn’t there.
Bid a job too low, and you risk not being able to pay the help. Bid it too high, and you risk losing the job. It’s a crapshoot, and it comes with experience.
It’s also one of the easiest businesses to start up, requiring only a lawn mower, a trimmer, a blower, a gas can and a vehicle to haul it all in. Drop an ad or two in the local shopper paper, and you’re on your way! I have seen people haul everything in a mid-sized car. Before long, they had a reliable truck. It doesn’t take long, if the work is good and the customers are treated right.
You can make as much, or as little, as you want to.
There is something to be said about a self storage with a manager on-site. It definitely gave me peace of mind that issues could be addressed quickly, if/when they pop up. Luckily, they never did when I had a unit, but I would pay a reasonable amount more for that personal service.
Stacking the odds in your favour definitely makes sense. I would add that you need to have the right mindset , be consistent and be at the right place at the right time. I have made some big mistakes that took years to get out from under…going all in to Real Estate just before a recession, putting life savings into the stock market just before the biggest downturn since the Great Depression…etc. This video gives me inspiration again. Simple is good. Low risk is good .Yes. The biggest challenge has been getting past my learned cynicism. Thank you.
My friends dadβs a multimillionaire and he owns those portable storage containers and he buys them and people rent them from him and he drives and drives them over to peopleβs houses and they put them on the side of their house or backyard!
I have saved up quite a reasonable amount and I am equally confused on the where and how to invest it. Currently stuck between four options Laundromat, stocks, Senior care centers and Real Estates. Can’t seem to find the most appropriate one as I also battle with time constraints and sustainability.
Never put all your eggs in one basket
A lot of laundromats start to fail in Belgium as the electricitybill rises month by month. And it’s impossible to ask 10 dollars for a wash for example. Talked to an owner who said It is cheaper to close than to keep it running. I think every type of business has their time of hardship.
Same. I’ve been blessed to be able to save alot of money. I don’t know what to do with it though. I know absolutely nothing about investing. Sounds confusing so I want to start a business but idk what.
I would love to see the breakdown of the thought process for how these businesses work. That would be really helpful. <3
Glad you love the content ! I’ll like to introduce you to something new.
Ofc yall want “clean energy” and decided to buy US war against RU and now are going to literally cripple and die during winter for lack of gas and energy.
How about solar powered laundromats to cut the electric bill? There are non existent in my country but if I had to open one I’d take the solar route.
Jeez man that sounds tough hopefully you learned some great lessons that will propel you in your future success. low risk, diversification etc
First video I’ve seen of yours. I own and run a retail store 5 years out now. And also farm, and wholesale too. I’m looking at laundry mat, storage that have been on my mind for a few years. Glad to see it hit your list for what that’s worth.
@BILBY FLIX Those are big investments and the ROI is not that big then i guess. And also mostly not an option as you may not own the building for example.
My question for you, when you buy a business like a carwash or laundromat that is not close enough to drive to often and check on yourself, who do you get to empty your cash out of the machines? Is there a company you hire to do this for you? Or do you hire someone to manage it and hope that they donβt pocket cash while emptying the machines?
Glad you love the content ! I’ll like to introduce you to something new.
My advice is to read a ton of books before you get into anything. I read books on personal finance, books on stock market investing, books on real estate investing. I listened to podcasts, read blogs, etc. Laundromats sound interesting, but i’d only get into them if i could do the same quality of research that i did in stocks and real estate.
How did u get a loan to start your first business?
@suzy surgent The non-glamorous answer: I had about 10 years of savings as we were charting our moves. Also Codie has videos on SBA which could be helpful if that’s what your looking to do. Things have changed in the last 5 years of commerce as is such with life. If your looking for some feedback drop your email here and I can reach out. Plenty of experts here on Youtube to get you educated and thinking that’s for sure.
@Doug Schwandt My knees are bothering me now and I am 60.
Yes, there is mega big money in trucking This is really an Interesting and Inspiring video, keep it up young man. Talking from experience I wasted 8 yrs. as a COMPANY SLAVE. I made my research about Governmental Grant, and I hired a Professional and Licensed Grant Writer to help me through my application. I was approved and awarded $600k as startup capital. Today as a company owner, independent owner operator running under my own authority, 6yrs in business. I do a 15 -16 day run. $25,000 in line haul is my goal. Every month is a 10+ day vacation. I run a reefer and only spend $16,000 to $21,000 a year in maintenance. After taxes, fuel and licensing I profit $189,000 in the bank. There is no short cut to success. Get your own authority and work open broker boards for trips. You will never see the big money off this industry as a COMPANY SLAVE.
Thanks
Then when you sell you business , give them one of your small books on customer service , and tell the owner , only in emergency, should you open this, which will have you small book.
β€οΈβ€οΈβ€οΈ
This looks scammy. An agent on instagram? Theyβre gonna ask for your money and run.
You can Start Dropshipping Business. Shopify dropshipping is now a Popular Business especially in USA and Uk. If you want to know more about it, you can contact with me.
@BILBY FLIX The electricity required to run a solar-powered laundromat would require way too many panels and batteries to make this cost effective. Dept of Energy has looked at all kinds of energy-efficient models, but there aren’t really good options other than electricity or natural gas-powered dryers right now. However, if you are a clever mechanic, develop something and help us all, please!!
@Pyrochick Hop so 100% of people can just do this right now??????
Stop being naive
You want to hock crap go do that on someone else comments. I’ll burn you right back, chick
@Richard Taylor No, I never said EVERYONE could do it. On the other hand, you angrily assume no one can do it, which is wrong. Knowledge takes time to acquire and so do business relationships. When you assume only “the elite” can succeed, you’ll never dare to try. I know, I’ve been that person. I have owned or co-owned 5 small businesses. I’ve totally paid my dues and I still reach out to others all the time to keep learning. I’ve learned by making mistakes — big time. I’ve paid my employees when it meant our w-2 jobs were paying all the bills and we got nothing except the opportunity to keep learning from our mistakes. Richard, with all the compassion I can muster today, I’d like to remind you that life is a journey and you don’t get to learn everything all at once. Your comments are filled with frustration. If I may offer just a couple of “naive” suggestions that anyone can access to learn business skills:
1. The Dept of Commerce supports SCORE (Senior Corp of Retired Executives) in many places all over the U.S. They will pair you up with people who will help you for little to nothing
2. Your local college may have a business department that can answer some of your basic questions
3. Local Chamber of Commerce offices often have meet-n-greet meetings to help you meet more seasoned entrepreneurs
4. Your local library has free access to so much information….just ask them to help.
Good luck!
@Pyrochick Hop basic low level information is far from someone who will back your financing… I dont need you talking down to me, I have an iq of 147. It isnt intelligence or business plans that get you financed, its who ya know. Good day
There are a lot of strategies to make tongue-wetting profit that the average joes don’t know. . Personally, the financial-market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you donβt have that fortune of time itβs a tough market out there almost nowhere feels safe!
I began with a fiduciary portfolio advisor by the name *PRISCILLA DIANE AIVAZIAN* . Sheβs verifiable and her works ethics is in accordance with the US investment act of 1940. Her approach is transparent allowing total ownership and control over my portfolio with fees very reasonable in comparison with my investment-income. Also, She covers things like investment insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that.
Word of the day: fiduciary. do not talk to anyone who is not a fiduciary to you, who explains everything.
*PRISCILLA DIANE AIVAZIAN* really seems to know her stuff. I looked her up on the web using her full name and found her page, read through her resume, educational background, and qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I’ll book a session with her
*PRISCILLA DIANE AIVAZIAN* is quite popular on Bloomberg I doubt if there is anyone who is serious about stock trading that doesn’t know her. She has helped me quite a few times in growing my portfolio and it was blissful without any setbacks. she is a tough person in an industry that demands clairvoyance
π€£π€£π€£ yeah right!
@Evan Thayer It’s all AI bots – these things are popping up everywhere – it’s a nice break from the ones trying to sell spell doctors to get your spouse back. They’re changing it up.
@Franco Bola what
I will forever be indebted to you, You’ve changed my whole life and i continue to preach about your name for the whole world to hear you’ve saved me from a huge financial debt with just little investment,Thanks so much Luciana cruz
You invest with Mrs Luciana cruz too? Wow that woman has been a blessing to me and my family.
I’m new at this, please how can I reach her?
@Bjorn Maynard You can reach her on her TELEGAM with the user name below
*.investwithLucruz.*
I have traded with a lot of individuals but I have never come across anyone as good as Mrs Luciana cruz, just by applying her strategies I now trade
independently. she is the best I’d advise any newbie in investing to trade with her.
The problem is, how are you able to get a 350 K loan at 23 years old
@Chelsea Hill they keep saying just get a loan as if anyone can, its absurd.
People like this also call themselves self made bc they dont know how lucky they are….
Im an engineer and researched a lot about what side businesses to get into that has little oversight and came across owning a route delivery business. Now I own a Pepperidge Farm Route and service 7 large retail locations and 4 cash stops and have a full time driver driving the route and servicing these stores for me 4 days out of the week. We work out of a shared depot with other distributors and we get snack and bread deliveries there that we stage in our own section and load our trucks with and go out and do deliveries. Now I only sit at home and place 2 orders online weekly while my driver takes care of the rest for 10% of the weekly sale as pay. Its amazing! And so much potential to grow with more locations and also buying other routes. One guy in our depot owns 4 routes. I look forward to the day I own multiple routes.
01:20 laundromat
02:41 real estate
04:50 self storage
06:29 transportation
09:53 vending
12:19 senior care centre
Solar
@Evan Thayer yeah a lot of comments here seem kinda weird and are turning me off to this process. Seems like a lot of ppl just preying on others /:
@Michael McDonald Iβll just agree, thatβs quite the essay my good person.
Wanted to say β my good manβ but 2023
Codie this is SUPER informative! Have recently got into Real Estate myself so it’s reassuring to know the failure rate is low. I’ve had HUGE success with affiliate marketing (I also produce videos on my channel, showing how others can do the same) which I enjoy as an online business that can be done from anywhere in the world. It would be great if you could release a vid showcasing the success rates for online businesses too. Thanks for the incredible content – now subscribed π
Glad you love the content ! Helpline is projected above β¬οΈ. Feel free to reach out to us for personal guΓdance on how to grow your finances…
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
Do you know how much is ok for a start let me know if I can do this
@George Ronald I suggest you get to her directly to her
As a single mom Trading with Victoria.L.Davies really gave me an assurance that i could get out of debts
Victoria.L.Davies has really made a name for herself
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There’s always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
When someone is straight forward people will always talk about her, thanks for talking about Amanda Martin services here
@Patricia Alice Wow…. She has really made good name for herself, she’s also my account manager
Having monitored my portfolio performance, Amanda has made me a jaw dropping $370k from just the past two quarters alone. I have learned why these experienced traders make enormous returns from the seemingly unknown market
Glad you love the content ! Helpline is projected above β¬οΈ. Feel free to reach out for personal guΓdance
@Codie Sanchez are these data only valid in US?
Making money should be a routine A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I’ve overheard people say inflation is a money-eater thus worried about my savings around $200k
People need to stop throwing out these red herrings meant to sabotage their competition by distracting them from actually taking action. If you want to be successful stop wasting time on these emotional based “to do” lists. Get to work on solving real world, tangible issues and turning the impediment to action into something that actually advances action. Money doesn’t give one singular iota of a shite how you feel, or what your mentality or attitude is like, she’s a cold betch, but a fair one, suck it up, and get her done.
Also, thank God the hot garbage in these comments is karmically incapable of taking any good advice whatsoever. Serves ’em right π
Nice video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market… can anyone help me out or at least advise me on what to do
Good to see how you guys came up here to show keen appreciation to Henne Nate this how i got recommendation about Exprt Henne Nate, At first I was a bit scared
I met Mr Henne Nate last year for the first time at a conference in BELGIUM. I invested $30,000 and traded in one month, making close to $200,000
Just checked Henne Nate profile at (LAPD) his licences and certification are all verified, I am definitely going to reach him
I found him on CNBC market interview so i looked him up we started our awesome partnership.
β@David V πππ
The first step is to not tell people on the internet the amount of money you have in savings while using your full name and a pic of you. I would delete this message or edit it to not say the amount of money you have.
ENY ENQUIRY….π±π
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Thanks
Bro u have my respect.
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I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.