@@gert-jank8992 well get a gas station, put up chargers for electric cars and have some food/café stuff where they can sit and eat/drink coffee while their car charge? there will still be vehicles using gas/diesel for a generation or more, so not like they vanish overnight, but adapt and evolve so you don't drop dead like Blockbuster did because they didn't keep up
GAS STATION!!! Restaurants are SUPER HARD to maintain, you need cooks etc it is more stressful then a gas station. I DEFIANTLY suggest a gas station my uncle owns 4
One of my first mentors that was instrumental in my financial success had worked his way up to owning over 20 gas stations at 50 years old, he earned millions. "Rich, middle class, poor, you always need gas" was his motto and his point to me was to focus exclusively on businesses that had constant demand over long periods. Anything from housing to home repair, etc. He always said the unsexiest businesses create the sexiest amount of profit.
Gas station, it will always be an essential business. The restaurant business even in normal times is very tough especially if you don't have a lot of experience. Vending machines are interesting but you need to have locations like factories to put them in to make money. Carwashes are overpriced and a maintenance headache. Online only businesses are great if you find the right product or service to offer.
Maybe combine several of those ideas into one business. A convenience store with take out restaurant type food. And throw in an automatic car wash on the side. Or how about a laundromat attached to a convenience store?? The biggest problem with these suggestions is the need for employees.
My local petrol station is a convenience store, hot food deli, automated car wash at the rear, coin operated washers and driers to the side, ev chargers and parcel hub.
There was discussion about having the laundry mat be staffed and charge for extra services. The smushed together option would allow for that. Midnight shift could tend to the laundry and babysit the convenience store. The downside is that you would have to build it. Brandon seems to like buy fixer uppers.
Nah the car washes attached to gas stations don’t get used often in my area Atleast, most people like to use the pressure washing ones or going to a dedicated car wash company that has those long tunnels and free vacuums
@@Kostasoflow no it wont... don't be the next Blockbuster... learn to adapt... heard of Electric Vehicles? Well they need to charge... Guess what it takes time... Sell some coffee/food for them to enjoy while they wait on their vehicle charging ;-) be smart...
@@Kostasoflow no. gas stations dont make money on the fuel, they make it on the goods sold in the store. Not hard to add eelectric car charging spots and do the same exact thing.
I live across from as gas station in a “transitional “ area. In summer, when I am bored, I sit on my porch with a beer and watch the gas station. Never a dull moment, but not sure you want that kind of excitement.
@@solomons5669 that is after the vehicle purchase. Seeing that thos vehicles are at least 20k new and used they aren't worth anything because the batteries are fully spend. Most people would not replace the batteries because they would rather get a new vehicle than spend the 8k it cost to get the new batteries installed. And checked for safety.
I’m glad you’ve handed over the property management to someone who is kicking butt. I think you will find your property values increase and headaches diminish while attracting more quality tenants. This will provide more safe housing for people who need it and also create jobs, which is always a good thing. My vote is for gas station, house flip and another laundromat.
Other ideas: 1. Washer/Dryer leases 2. Airport/Airplane Hangers 3. Ghost Kitchen 4. Hair Salon booth rentals 5. AM radio station 6. Convert a closed rental space into self-storage 7. RV storage 8. Cell towers 9. Billboards 10. Flea Market
I sold a gas station/c store last year. Over 26 years, margins ranged from Minus 10 cents to plus 50 cents per Gallon. Averaged 10-15 cents. A gallon. You have no idea. The allure of handling a bunch of money fades With the 365 days a year business. Factor in employee theft and difficulty in retaining employees, there are easier ways to make money. I sold a self storage facility As well. Built and ran it for 24 yrs. Never had a stopped up toilet or a furnace go out! Best rental business Going. Restaurants are one of the highest failure rates going without Factoring in covid.
As a former gas station owner, I completely agree that this is a solid business to enter. If you are fortunate enough to be in a self service State, and can aquire one with a food shop that also sells wine and beer; you are golden. High gas volume plus busy food shop, equals constant cash flow on Hand. You will always have cash 😁
The house flipping videos would be great to see from you. Following those, I'd be interesting in seeing you document the gas station purchase. Maybe even a gas station with an automated car-wash built in, if you have those around there? I think keeping with the real-estate would be good for your brand and channel.
Brandon, your editing/production on this video is top notch! You've come a long way and you should be proud of what you're doing. Good luck with whatever you choose... I'll be watching!
Do not go into resteraunt if you want to make money during pandemic. Candy, alchohol and movie sales go up during hard economic times, as do car repairs rather than car sales. A grocery store would be another good idea, everyone needs food, and those are classified as essential in lockdowns. We own a gas station/repair shop, the lockdown didn't affect us until we got the virus. Our only problem was getting parts because factories were shut down.
@@gert-jank8992 adding electric charging stations to a gas station is easy peasy, costs about 10g. You dont seriously think gas stations make money off of gas though do you? Gas stations sell you your addiction.
@@marcschaeffer1584 True, liquid fuels are a low margin commodity. Margin on coffee is far higher. But still it is important to get a good deal. Gas station can be a money pit. When "every" parking lot and home will have a smart charger like zappi and cheap electricity like one from solar PV. There will be less traffic to gas stations or quick chargers. If you can't make your money back in a decade it is not worth it.
@@ArthursHD lol try cigarettes alcohol and snacks. Everything you dont want to go to the grocery store for. Gas wont be gone for a long time, diesel, maybe never, gas stations, definitely will be here forever. There was a corner store before there was a horseless carriage.
I’ve heard from a few friends that if you buy a restaurant you’re buying a job, you always have to be there. I always thought an ice cream shop would be perfect work all summer and have off all winter but the same thing applies you always have to be there.
Buy a gas station and add electric car chargers so you can do both and with a restaurant right next to it so you can up-sale gas at the restaurant and up-sale food at the gas station.
There’s a business that is located just a state west of you. It’d be considered essential, operates a couple days a week, and is well established. It’s maybe a bit off the wall or maybe not a viable business for you being so far from it, but, there are people there that know what they’re doing and could surely help you out. It’s a livestock auction!
I don't really know, if you're reading our comments or not, I'm not that much of a commenter on YT but at least a loyal viewer. I'm from germany, therefore all my ideas or thoughts are based on our real estate market. Theoretically this is too much to tell from a comment box... but I try: I own some appartments myself, as well as a small warehouse with around 1.100ft² in size. Therefore I know how much work goes into appartment complexes and such stuff. If I would be in your position I would try to get my hands on a warehouse, build boxes (rooms) in it and open up your own (not yet developed) self-storage facility. Pre-developed businesses are most times by far more expensive than putting the work in it yourself (and it's really not that much of work ;-)) People are hoarding their stuff and trying not having to get rid of them. Here in germany, the price per month per m² is by far more expensive for a small room in a self-storage facility than a average apparment per m² with less work needed. There is also less risk of a tenant breaking everything and having to repair stuff. Just income, with very little work needed :-) And it's really fun, you'd even put some vending machines there (earn some extra $)
When I first watched your channel I was an addict living in a basement, now i have a business that did well for the first year and other projects coming along, takes money to make money
I'd say the gas station. 1) It sells something that is essential which means it will be allowed to operate even during these times. 2) It also sells things that are not essential but have better margins (i.e. candy, pop, lottery tickets, etc.) 3) If you are interested in doing a restaurant then later on with the gas station you might be able to expand the operations and add in some type of fast food/restaurant to the operation depending on location and the financial situation with the station
Don't buy a gas station, buy an alternative fuel station:) Don't buy a restaurant or bar, buy a "brew pub" or "food truck" :) Very progressive. Seriously love your channel, man. Peace & out.
They are both great ideas. i like how you will be able to help the community with either of these. all the food getting ready to go bad can go to a soup kitchen. Or something of that nature. Love the vids man, im taking notes. KEEP IT UP!!!!!
A storage facility because you make no money off of gas this being said you could by a drive thru we have one in wadsworth and it has a line in the street usually
Why not both? In Arizona, Chandler there's this place called El Gordo Mexican Grill #2 it is both a gas station and a restaurant. The best food i ever tasted worth the 20 min drive just to eat their.
2) convince store is a good idea but I’d limit it to how would you do it? You can take ideas how Japan is doing it with FUNUC robotics. The machine can pick your order and have the order ready for pick up at the pick up station and only available after the $ clears. You can have a vertical farm in the back that’s ran by robotics so you can grow your own veggies so you don’t have to haggle with farmers for your food you are selling. The health inspectors can fault you because it’s a robot growing it and no humans involved so no pesticides. I have a few links if you’re interested
I'd benefit more from Multi-family Homes\Apartments. I live in one and have aspirations to own one with up to 4 units. I imagine it'll be a headache, but we wouldn't love this channel if we didn't see the challenges that come with owning low-income real estate.
Do what makes you happy, otherwise it will burn you out & you’ll resent it. It’s clear from the video that that is real estate. Also great job on the editing/camera/lighting here!
If you buy a restaurant you gotta worry about Yelp and people bad mouthing you on social media if your food ain’t up to par plus you gotta really push a good product while a gas station is lower maintenance
Also, if you don't have a good electronic system, waiters and managers will steal your money, not saying all, but maybe most will take advantage if they have the opportunity.
I've got the answer to all this, from your view, and from the viewer's view - buy a WHOLE TOWN, and that will lead to a TV show (like EastEnders), and all! ~Cindy! :D
Coming from a long time gas station owner had owned multiple gas stations. It depends on the state you live in for example buying a gas station in Florida bad idea there huge competitors WAWA Racetrack you won’t able compete with there prices and deals as a single store owner. Especially with the rise of wholesale big boxes like sams club and bjs. If you want to do it you gotta do it in the countryside.
Make a car dealership, buy used cars for cheap sell them and in about a couple years a major car dealership like ford etc will buy it and only sell ford or the other dealerships
Don’t even franchise a dealership, just run a second hand dealers, it may need to have expensive staff but if you buy the cars from the right people you could spend little to no money on refurbishment of vehicles and get them out on the road or, as stated above sold to manufacturers.
Not sure if there is one in your area but a farmers market or flea market would be pretty rad Brandon...minus actual fleas of course. Your channel rocks man and we Canadian's appreciate it!
I would personally like to see the house flip idea, from complete start to finish. As far as my thoughts on what your business should be for 2021 is the house flip. I would use 2021 to get everything in order, managers in place, projects got where they need to be, debt paid down and properties updated as needed. With the way this virus is going who knows how it can keep affecting some of the businesses you mentioned. Nothing wrong with paying down debt and getting completely organized before moving into new ventures.
Hey, message me I would love to give you some insight. My family owns about 15 stores some in the 4-5 million dollar range. Love your content and will love to help u out.
Brandon, the gas station is your best bet. There is so much money that flows into those things. My dad and brother own a convenience store and a small town grocery store in western Idaho. The c-store blows the grocery store out of the water on the daily. People will spend so much money on snacks and beer. It’s a great business to be in. Go with the c-store, I’d bet you’d see the best returns.
I like the idea of gas stations because there are opportunities for everything else you mentioned like an added car wash, smoke shop, your own food cart outside. Could even use part of the parking lot to sell used cars.
I got a great idea. YES, a gas station, but with a large lot and rent a tiny spaces to taco trucks. I know several gas station/convenience store owners here in Texas that are making a killing renting out their extra space to five seven taco trucks plus a car wash, plus an insurance office. At 1 grand a space, that's an extra 5-10 thousand a month of sure revenue!. Not only do your rentals pay for the property taxes but its extra profit. Plus the extra clients at the trucks bring more customers to your store! If you do the convenience store, make sure you do it right. And convenience stores and gas stations do well in pandemics and recessions.
DIY Car Wash, more collection videos and good revenue and recession proof. Gas station, you only make a minium amount off gas, most of money is made in snacks and soda, cigarettes, liquor etc. I've talked to a few and looked into gas station. A lot headaches with the environmental issues also with teh gas storage underground. Restuarants are the most risky and have one of the highest failure rates, if you don't have a passion for it, I wouldn't jump in, especially with how much in person dining has changed. Just my two cents with someone with businesses and a little knowledge of these businesses. I'm sure you wll make a good choice.
I make 10% on my Franchise restaurant it’s not overly difficult. 21-24k a week, 28% food cost, 23% labor, 10% profit. With a General Manager in place making 60k / yearly . Looking at adding a gas station to my page though ....
Wouldn’t get into the restaurant business unless you can make a profit with only To-Go food. The powers that be are going to end the dining experience.
The money is on the convenience side of a gas station with all the taxes and fluctuations in gas prices depending on if you operate as an independent or a branded gas station the margins aren't that great. That would obviously depend on its location as well but gas sales will cover the light bill as they say. The return on beverages, snacks, and beer, if you get one with a pre-existing license, would be where the money is.
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
It's got to be a gas station, understanding the on the move mentality of what shoppers want (Products, Coffee, Hot food), and how the buying, pricing & selling works.. there's opportunity for vending machines/car wash facilities and many more including new electric charging facilities and I even have one near me that has a 24hr washer dryer setup! I also want to see you smash it, your dedication to the site will ensure it will thrive and I believe its the most future proof & creative opportunity listed. Cant wait to see and hopefully one day visit your choice 👍
Even though I don't watch your video as much as I did before, but I gotta say that your money tips are really helpful. I followed some thing you told us and they help! Thanks man!
Definitely a gas station, I currently run one with my family and plan on doing some content myself on it. I think UA-cam needs to shed some light on the business model.
Can you give me some advice of owning a gas station? I am planning on buying my first gas station soon and i know very little but i am hungry for success in the business world
No to the gas station - around here the big boy (QT) wiped out all of the local mom and pop stations. Self storage - maybe. If you can make an arrangement with one of the big chains to manage it. As far as restaurant- we have a local place that does meals to go from the freezer and cooler - all homemade, top quality, reasonably priced, and they are crushing it.
Gas station for sure with convenient store but very good location because the convenient store will be a necessity if truckers are going constantly back-and-forth or people traveling
My suggestion would be a gas station. I've managed and owned my own restaurant and they are non stop hands on businesses 24/7. Not the for you seen to be interested in. The other trend recently is a ghost kitchen where you own a kitchen/store front and rent the spot out to people to come in and setup and cook their food on their schedule when they want. You just have the equipment and location for those who can't afford their own spot.
I know a guy in Wisconsin who owns laundromats and car washes, does real estate and air B&B. How did he get his start? Installing windows. He now owns the largest and most successful window replacement/install business in the area. Which is a great way to find leads for more real estate. I think that may be a great idea for you instead of getting into drop shipping or the online space. Thanks for your content!
If you're going to get a gas station, make sure you have some kind of concessions store. The margin on fuel is next to nothing, but you can make a hell of a lot of money just off concessions. Restaurants require a LOT of startup time investment as well as time in general for ongoing operations. Generally you only make a small margin on food, but alcohol is where the money is. Overall the margin is probably better on restaurants, but a gas station would be much more of a passive investment.
Love hearing the rate of return on these businesses for investments. Disappointing self storage only 8% return. Love the numbers. All interesting ideas.
I've worked at a gas station, depending on your area and the economic disparity, you'll want all your employees to either be somebody you really trust or maybe family. From my experience most product losses from customer theft, most actual money loss, is from employees. You'll want complete camera coverage, so you can catch and prosecute. On top of that I'd recommend daily cigarette counts I've heard horror stories abour employees taking whole cartons back in the day,also weekly inventory, probably based on areas, snacks one day of the week drinks the next ect. And yes if you get a gas station you'll either want a restaurant attached, or food options inside of the restaurant or food warmers a soda fountain that sort of thing ect, because prepared food purchases like that will be your highest profit margin. Also you seriously need to consider sales strategy, I've seen two different strategies most convenience stores us, one is lower gas prices to bring the customers and then higher prices inside the store to keep margin, the other way is to think of gas portion and covience store portion as separate, price both based on your competitors but push sales of in-store items up sell like items or commonly bought together items.
Have you considered a thrift type store? customer driven store, people bring in items, you price them to sell and you split the profits of that persons sales 50/50 with them. they would only be able to collect payment monthly on items of theirs that sell. This would would require a storefront with decent traffic, store fixtures and a few employees along with some opening inventory. This store does does quite well in economically impacted areas. I think you could pull this off quite easily.
There are plenty of gas station/food places. The best shrimp I eat in Florida is sold at a gas station. Best BBQ in Kansas City is sold at a gas station. If you do a gas station, set up a small hot dog stand inside. Low overhead and big margins in hot dogs
You know I really like watching the vending machine videos, where they go to Sam’s Club buy the sodas and snacks, and then going to the different vending machines and filling them up and then seeing them collect the money from them! But as I watch these ones grow I see their struggles with needing vehicles to haul the product and places to store some product till needed so though they are enjoyable to watch and can’t see that being very profitable in long run, with cost of snacks going up!
You're on the right track Brandon. In my opinion, restaurants are typically a bad idea and more so now. They are typically resource heavy, require massive amounts of time and inventory. With the uncertain future of America and COVID lockdowns, might be a disaster, making 2020 look like a walk in the park. No matter what the economy, people always need housing, fuel, food, laundry.
A real service station with grocery store and diner would be a good old-fashioned business. A catering business, tow company, full service carwash, barbershop, bar and motel could be great extensions.
Maybe a payday lending/check cashing business? I like the idea of buying a small strip mall and combining some of the ideas together that are synergistic. Gas station, laundromat, convenience store, carry out food, dollar store, payday lending/check cashing, etc. Maybe near your trailer park if it feasible.
How about a twist on Merry Maids. A food truck and a maid service in one. The maid comes to clean and brings oven ready meals. You train your tenants to keep things clean and help them pay their rent by working not stealing. The meals could be from the resteraunt that is only at 1/2 capacity due to lockdown.
During the 90's most, state & federal departments here in Australia began to streamline via redundancies (pay outs).1 man bought a petrol station (gas station in USA) & walked out 6 months later with nothing. He never had a mechanics workshop as a rental & he only saw busy times after work / weekends when tourists arrived. Profit on fuel is about 30-40 cents a gallon USD so the drinks, snacks, cigarettes, workshop is the bonus money to make a dollar or two. He walked out 6 months having lost all his money & Ignorance was to blame for it.
The most interesting would be the gas station, however, I wouldn't say that it would be a long term investment, as in 20 years it'll be worthless as a gas station. Make sure it has a good power supply so you can add EV charging as well, then add the coffee shop on the side (they make very little on the coffee but reasonable on the pastries.)
Do a gas station with EV charging and have a small food station inside the gas station or keep a food truck outside. I would love to open an gas charging station kind of like QT but only for EVs but I don't have any money to do that, but I really think that is the future. But if you don't want to do all EV you can have gas pumps as well. just a suggestion.
I would love to see more laundromat and real estate investment videos. It was the original reason I subscribed but I do love all your other investment videos too.
Convenience Store!!! I remember the video from March 2020, where you mentioned the sale of lottery tickets. The real winners are the stores that sell them. You’d make plenty of money from that alone. I’d charge a few cents less than nearby competitors for items that sell the most in the store. You’d make a VERY nice profit. You could choose whether you wanted to sell fuel & add charging stations when enough need arises.
In my early twenties when I moved to Florida I frequented the local Shell gas station up the road... after awhile the girls that worked the closing shift would bribe me with beer to stay and help them close, basically go out to the U-Haul trucks they also rented and blow the boxes out with a leaf blower... and also lock up the drive-thru car wash, that place was rite off I-95 and busy!
Gas stations have alot of hidden fees. How old are the underground tanks? Does your state require a class on fuel storage? Gas generally is not a huge markup. Restaurant depends on getting a right cook.
Gas station. Yes, it gets robbed every once in a while, but a restaurant takes more work and would probably get shut down because of lockdowns.
Electric will be the future so will eat allot of investment money
@@gert-jank8992 well get a gas station, put up chargers for electric cars and have some food/café stuff where they can sit and eat/drink coffee while their car charge? there will still be vehicles using gas/diesel for a generation or more, so not like they vanish overnight, but adapt and evolve so you don't drop dead like Blockbuster did because they didn't keep up
@@gert-jank8992 I don't think electric cars will ever _fully_ replace gas/diesel. Yes there will be more electric cars, but not all of them will be.
Can you think of the views a robbery would get ?
@@InvestmentJoy Content, baby!
Gas station because you can film the shoplifters and start a new channel like “gas station encounters” which ironically is also in Ohio.
Your right about that mate😂😂
GAS STATION!!! Restaurants are SUPER HARD to maintain, you need cooks etc it is more stressful then a gas station. I DEFIANTLY suggest a gas station my uncle owns 4
One of my first mentors that was instrumental in my financial success had worked his way up to owning over 20 gas stations at 50 years old, he earned millions. "Rich, middle class, poor, you always need gas" was his motto and his point to me was to focus exclusively on businesses that had constant demand over long periods. Anything from housing to home repair, etc. He always said the unsexiest businesses create the sexiest amount of profit.
Gas station, it will always be an essential business. The restaurant business even in normal times is very tough especially if you don't have a lot of experience. Vending machines are interesting but you need to have locations like factories to put them in to make money. Carwashes are overpriced and a maintenance headache. Online only businesses are great if you find the right product or service to offer.
Do anything that gives someone a job and the responsibility to keep that biz going. Awesome content Brandon. Really does show why America is great.
Maybe combine several of those ideas into one business. A convenience store with take out restaurant type food. And throw in an automatic car wash on the side. Or how about a laundromat attached to a convenience store?? The biggest problem with these suggestions is the need for employees.
I really like the 'smash them together' idea it'd be really neat to see if the extra pull of comboing them all together would result in more sales.
My local petrol station is a convenience store, hot food deli, automated car wash at the rear, coin operated washers and driers to the side, ev chargers and parcel hub.
There was discussion about having the laundry mat be staffed and charge for extra services. The smushed together option would allow for that. Midnight shift could tend to the laundry and babysit the convenience store. The downside is that you would have to build it. Brandon seems to like buy fixer uppers.
Nah the car washes attached to gas stations don’t get used often in my area Atleast, most people like to use the pressure washing ones or going to a dedicated car wash company that has those long tunnels and free vacuums
Next video: "should I buy a town?"
🤣
that thing happened to Indonesian towns lol
😂🤣. Brandon….singlehandedly rebuilding southern Ohio one property or more at a time!! ☺️
LMAO
I would like to see you buy a Gas Station because not a lot of people cover gas stations but there are some for restaurants.
In a decade it will be nonprofit might as well make a car dealership then in a couple years a major dealership will buy it
@@Kostasoflow no it wont... don't be the next Blockbuster... learn to adapt... heard of Electric Vehicles? Well they need to charge... Guess what it takes time... Sell some coffee/food for them to enjoy while they wait on their vehicle charging ;-) be smart...
@@Kostasoflow no. gas stations dont make money on the fuel, they make it on the goods sold in the store. Not hard to add eelectric car charging spots and do the same exact thing.
Too many employees to manage at a restaurant
@@ChevTecGroup thats why restaurants have a "manager" ya know
I live across from as gas station in a “transitional “ area. In summer, when I am bored, I sit on my porch with a beer and watch the gas station. Never a dull moment,
but not sure you want that kind of excitement.
Personally, I think that a gas station would be really interesting, but that's just me.
Electric will be the future so will eat allot of investment money
@@gert-jank8992 electric is wayyyy to expensive, more people are going to use gas because half the people in that town can’t afford that.
@@realredditstories420 Electric is cheaper than gas
@@solomons5669 that is after the vehicle purchase. Seeing that thos vehicles are at least 20k new and used they aren't worth anything because the batteries are fully spend. Most people would not replace the batteries because they would rather get a new vehicle than spend the 8k it cost to get the new batteries installed. And checked for safety.
yeah you could name it "Stop And Rob". Then in a line up pick the robber from among 20 other people wearing masks. LOL.
I’m glad you’ve handed over the property management to someone who is kicking butt. I think you will find your property values increase and headaches diminish while attracting more quality tenants. This will provide more safe housing for people who need it and also create jobs, which is always a good thing. My vote is for gas station, house flip and another laundromat.
do a gas station, but have electric car chargers.
just in case.
Good idea but being in Ohio in the area he is in there aren’t many cars that are electric.
I don't think electric car are big in the hoods of Ohio :0
@@jabberwocker6305 not yet but Long term they will
I live in Cleveland and see plenty of Tesla’s on the streets. The electric chargers would be a smart idea
If he needs to he can just install them😐
Other ideas:
1. Washer/Dryer leases
2. Airport/Airplane Hangers
3. Ghost Kitchen
4. Hair Salon booth rentals
5. AM radio station
6. Convert a closed rental space into self-storage
7. RV storage
8. Cell towers
9. Billboards
10. Flea Market
Honestly, I want to see you try a storage facility. Seems unique
Agreed!
Agree and add small office areas for resellers
Storage will be needed as more people downsize housing or evicted . .
Restaurants would be the LAST thing I would put money into
I sold a gas station/c store last year.
Over 26 years, margins ranged from
Minus 10 cents to plus 50 cents per
Gallon. Averaged 10-15 cents. A gallon. You have no idea. The allure of handling a bunch of money fades
With the 365 days a year business. Factor in employee theft and difficulty in retaining employees, there are easier ways to make money. I sold a self storage facility
As well. Built and ran it for 24 yrs.
Never had a stopped up toilet or a furnace go out! Best rental business
Going. Restaurants are one of the highest failure rates going without
Factoring in covid.
Agreed! Easy to add value to it as well
As a former gas station owner, I completely agree that this is a solid business to enter. If you are fortunate enough to be in a self service State, and can aquire one with a food shop that also sells wine and beer; you are golden. High gas volume plus busy food shop, equals constant cash flow on Hand. You will always have cash 😁
Did you buy an existing gas station at the time with cash flow generating and the gas contracts in place?
@@foluobe5126 no, I had taken over s station that had been mismanaged and built it back up in a short period of time.
The house flipping videos would be great to see from you. Following those, I'd be interesting in seeing you document the gas station purchase. Maybe even a gas station with an automated car-wash built in, if you have those around there?
I think keeping with the real-estate would be good for your brand and channel.
Brandon, your editing/production on this video is top notch! You've come a long way and you should be proud of what you're doing. Good luck with whatever you choose... I'll be watching!
Glad you noticed
Do not go into resteraunt if you want to make money during pandemic. Candy, alchohol and movie sales go up during hard economic times, as do car repairs rather than car sales. A grocery store would be another good idea, everyone needs food, and those are classified as essential in lockdowns. We own a gas station/repair shop, the lockdown didn't affect us until we got the virus. Our only problem was getting parts because factories were shut down.
Gas station GAS STATION did you hear me? buy a gas station. No comparison.
Electric will be the future so will eat allot of investment money
@@gert-jank8992 adding electric charging stations to a gas station is easy peasy, costs about 10g. You dont seriously think gas stations make money off of gas though do you? Gas stations sell you your addiction.
@@marcschaeffer1584 True, liquid fuels are a low margin commodity. Margin on coffee is far higher. But still it is important to get a good deal. Gas station can be a money pit. When "every" parking lot and home will have a smart charger like zappi and cheap electricity like one from solar PV. There will be less traffic to gas stations or quick chargers. If you can't make your money back in a decade it is not worth it.
@@ArthursHD lol try cigarettes alcohol and snacks. Everything you dont want to go to the grocery store for. Gas wont be gone for a long time, diesel, maybe never, gas stations, definitely will be here forever. There was a corner store before there was a horseless carriage.
I’ve heard from a few friends that if you buy a restaurant you’re buying a job, you always have to be there. I always thought an ice cream shop would be perfect work all summer and have off all winter but the same thing applies you always have to be there.
Good evening. Combine it all. Buy a gas station/ convenience store then add a lunch truck on the property! Just a thought.
Buy a gas station and add electric car chargers so you can do both and with a restaurant right next to it so you can up-sale gas at the restaurant and up-sale food at the gas station.
Glad to hear the trailer park is doing better. :)
There’s a business that is located just a state west of you. It’d be considered essential, operates a couple days a week, and is well established. It’s maybe a bit off the wall or maybe not a viable business for you being so far from it, but, there are people there that know what they’re doing and could surely help you out. It’s a livestock auction!
Blockbuster Video store for sure.
idk man those things are really new people don't trust them yet
I'd watch the hell out of that series.
Why video store? Apps and red box killed video store. The overhead will crush you in the long run with no profits to show
@@r3gr3tfulfly3r5 yes you definitely didn't get the joke
@@Pronimator you need a new day job your jokes blow
I don't really know, if you're reading our comments or not, I'm not that much of
a commenter on YT but at least a loyal viewer.
I'm from germany, therefore all my ideas or thoughts are based on our real estate market.
Theoretically this is too much to tell from a comment box... but I try:
I own some appartments myself, as well as a small warehouse with around 1.100ft² in size.
Therefore I know how much work goes into appartment complexes and such stuff.
If I would be in your position I would try to get my hands on a warehouse, build
boxes (rooms) in it and open up your own (not yet developed) self-storage facility.
Pre-developed businesses are most times by far more expensive than putting the
work in it yourself (and it's really not that much of work ;-))
People are hoarding their stuff and trying not having to get rid of them.
Here in germany, the price per month per m² is by far more expensive for a small room in
a self-storage facility than a average apparment per m² with less work needed.
There is also less risk of a tenant breaking everything and having to repair stuff. Just income,
with very little work needed :-)
And it's really fun, you'd even put some vending machines there (earn some extra $)
If you want Gordon Ramsay to shout at you, go restaurant. If not, go gas station.
When I first watched your channel I was an addict living in a basement, now i have a business that did well for the first year and other projects coming along, takes money to make money
Gas station seems better for some reason. You can film more with it
Would love to see a small apartment complex, 4-10 units.
small trailer park with almost no useable trailers, and make it a tiny house community
Yes!!!!! Perfect!
I'd say the gas station.
1) It sells something that is essential which means it will be allowed to operate even during these times.
2) It also sells things that are not essential but have better margins (i.e. candy, pop, lottery tickets, etc.)
3) If you are interested in doing a restaurant then later on with the gas station you might be able to expand the operations and add in some type of fast food/restaurant to the operation depending on location and the financial situation with the station
That Carl’s restaurant used to be by St Mary’s. And where Carl’s is at now was a gas station
Don't buy a gas station, buy an alternative fuel station:) Don't buy a restaurant or bar, buy a "brew pub" or "food truck" :)
Very progressive. Seriously love your channel, man. Peace & out.
Gas station less of a headache and you don’t need a 20 man staff
They are both great ideas. i like how you will be able to help the community with either of these. all the food getting ready to go bad can go to a soup kitchen. Or something of that nature. Love the vids man, im taking notes. KEEP IT UP!!!!!
Gas station. Restraunt sounds wayyyy too stressful. (Haven’t watched the video yet)
Idiot gas stations won’t be useful in a decade time...
Kostaflow, wrong. Gasoline isn't going anywhere anytime soon.
Kostasoflow gasoline definetly ain’t going anywhere.
A storage facility because you make no money off of gas this being said you could by a drive thru we have one in wadsworth and it has a line in the street usually
Why not both? In Arizona, Chandler there's this place called El Gordo Mexican Grill #2 it is both a gas station and a restaurant. The best food i ever tasted worth the 20 min drive just to eat their.
2) convince store is a good idea but I’d limit it to how would you do it? You can take ideas how Japan is doing it with FUNUC robotics. The machine can pick your order and have the order ready for pick up at the pick up station and only available after the $ clears.
You can have a vertical farm in the back that’s ran by robotics so you can grow your own veggies so you don’t have to haggle with farmers for your food you are selling. The health inspectors can fault you because it’s a robot growing it and no humans involved so no pesticides. I have a few links if you’re interested
I'd benefit more from Multi-family Homes\Apartments. I live in one and have aspirations to own one with up to 4 units. I imagine it'll be a headache, but we wouldn't love this channel if we didn't see the challenges that come with owning low-income real estate.
Storage facility seems like that would be smartest and right up your alley.
Gas Station 'cause you' ll feel like a Mafia Boss lol
Don’t mafia bosses have restaurants
Pretty sure a restaurant is more Mafia. You been watching too much breaking bad! 😂
I like your setup with the house on the TVs, great lighting and camera too
Industrial property could be interesting as well (assuming you don't count self-storage in there)
Do what makes you happy, otherwise it will burn you out & you’ll resent it. It’s clear from the video that that is real estate.
Also great job on the editing/camera/lighting here!
Agree with everything you said... Sounds like you speak from experience.
If you buy a restaurant you gotta worry about Yelp and people bad mouthing you on social media if your food ain’t up to par plus you gotta really push a good product while a gas station is lower maintenance
Also, if you don't have a good electronic system, waiters and managers will steal your money, not saying all, but maybe most will take advantage if they have the opportunity.
recognized a couple of those car washes. Thanks for putting my home town of Circleville Ohio on the map
I've got the answer to all this, from your view, and from the viewer's view - buy a WHOLE TOWN, and that will lead to a TV show (like EastEnders), and all! ~Cindy! :D
👏👏👏👏👏👏👏👏👏
Coming from a long time gas station owner had owned multiple gas stations. It depends on the state you live in for example buying a gas station in Florida bad idea there huge competitors WAWA Racetrack you won’t able compete with there prices and deals as a single store owner. Especially with the rise of wholesale big boxes like sams club and bjs. If you want to do it you gotta do it in the countryside.
Make a car dealership, buy used cars for cheap sell them and in about a couple years a major car dealership like ford etc will buy it and only sell ford or the other dealerships
Don’t even franchise a dealership, just run a second hand dealers, it may need to have expensive staff but if you buy the cars from the right people you could spend little to no money on refurbishment of vehicles and get them out on the road or, as stated above sold to manufacturers.
Brandon could even repurpose his warehouse as a repair/showroom
Not sure if there is one in your area but a farmers market or flea market would be pretty rad Brandon...minus actual fleas of course. Your channel rocks man and we Canadian's appreciate it!
Oh, oh! 🤚🤚 Strip club!
yeah those livestreams would have LOTS of viewers hahahah
Sex Shop charge a quarter to watch the movies in the back!
I would personally like to see the house flip idea, from complete start to finish. As far as my thoughts on what your business should be for 2021 is the house flip. I would use 2021 to get everything in order, managers in place, projects got where they need to be, debt paid down and properties updated as needed. With the way this virus is going who knows how it can keep affecting some of the businesses you mentioned. Nothing wrong with paying down debt and getting completely organized before moving into new ventures.
Hey, message me I would love to give you some insight. My family owns about 15 stores some in the 4-5 million dollar range. Love your content and will love to help u out.
That’s so kind of you!!👏👏👏👏❤️💕💕
Is there anyway i can follow what you guys do? Social medias or anything?
I like how you keep picking the most unpopular forms of investment (IMO), very old school approach. I appreciate your content. Thanks
People who buy those things, are people who don’t ask others if they should buy those things!! They just do it and it becomes their life.
Unless they have a YT channel and need material for new videos
Brandon, the gas station is your best bet. There is so much money that flows into those things. My dad and brother own a convenience store and a small town grocery store in western Idaho. The c-store blows the grocery store out of the water on the daily. People will spend so much money on snacks and beer. It’s a great business to be in. Go with the c-store, I’d bet you’d see the best returns.
I feel you should invest in electric charging station that’s the future
I like the idea of gas stations because there are opportunities for everything else you mentioned like an added car wash, smoke shop, your own food cart outside. Could even use part of the parking lot to sell used cars.
DO THEM ALL! Mwuhaha
I’ve always been interested in the self storage business. Thanks for all the info IJ!
I'm dreading the Danny DeAngelo ones. The live stream ones were very awkward and just felt so cringe the entire time.
I got a great idea. YES, a gas station, but with a large lot and rent a tiny spaces to taco trucks. I know several gas station/convenience store owners here in Texas that are making a killing renting out their extra space to five seven taco trucks plus a car wash, plus an insurance office. At 1 grand a space, that's an extra 5-10 thousand a month of sure revenue!. Not only do your rentals pay for the property taxes but its extra profit. Plus the extra clients at the trucks bring more customers to your store! If you do the convenience store, make sure you do it right. And convenience stores and gas stations do well in pandemics and recessions.
Funeral home... period the end!!! always gonna have business and can gain status in community, funeral home, funeral home, funeral home!!!
People be dying to get in there
Only two sure things in life, Death and Taxes. If Funeral home is to icky establish a CPA business.
DIY Car Wash, more collection videos and good revenue and recession proof. Gas station, you only make a minium amount off gas, most of money is made in snacks and soda, cigarettes, liquor etc. I've talked to a few and looked into gas station. A lot headaches with the environmental issues also with teh gas storage underground. Restuarants are the most risky and have one of the highest failure rates, if you don't have a passion for it, I wouldn't jump in, especially with how much in person dining has changed. Just my two cents with someone with businesses and a little knowledge of these businesses. I'm sure you wll make a good choice.
Don’t buy a restaurant, the margins are razor thin and ultra competitive. Do something else with your money 😂
I make 10% on my Franchise restaurant it’s not overly difficult. 21-24k a week, 28% food cost, 23% labor, 10% profit. With a General Manager in place making 60k / yearly .
Looking at adding a gas station to my page though ....
Try creating the first electric car charging center with convenience store.
Wouldn’t get into the restaurant business unless you can make a profit with only To-Go food. The powers that be are going to end the dining experience.
The money is on the convenience side of a gas station with all the taxes and fluctuations in gas prices depending on if you operate as an independent or a branded gas station the margins aren't that great. That would obviously depend on its location as well but gas sales will cover the light bill as they say. The return on beverages, snacks, and beer, if you get one with a pre-existing license, would be where the money is.
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
Investing in cryptocurrency is one of the best chance of making money 💸
@Ruben Alexander That won't bother you if you trade with a professional like Mr Martin s.schwartz
@@sarahgary4143 I heard his strategies are really good
@@tylers4004 Yeah. My first Investment with Mr Martin s.schwartz me profits of over $24,320 US dollars and ever since then he has Been delivering
He has really made a good name for himself
It's got to be a gas station, understanding the on the move mentality of what shoppers want (Products, Coffee, Hot food), and how the buying, pricing & selling works.. there's opportunity for vending machines/car wash facilities and many more including new electric charging facilities and I even have one near me that has a 24hr washer dryer setup! I also want to see you smash it, your dedication to the site will ensure it will thrive and I believe its the most future proof & creative opportunity listed. Cant wait to see and hopefully one day visit your choice 👍
Gas station or car wash. Don’t bother with the online businesses. There’s too much of that out there.
Even though I don't watch your video as much as I did before, but I gotta say that your money tips are really helpful. I followed some thing you told us and they help! Thanks man!
Definitely a gas station, I currently run one with my family and plan on doing some content myself on it. I think UA-cam needs to shed some light on the business model.
Can you give me some advice of owning a gas station? I am planning on buying my first gas station soon and i know very little but i am hungry for success in the business world
No to the gas station - around here the big boy (QT) wiped out all of the local mom and pop stations. Self storage - maybe. If you can make an arrangement with one of the big chains to manage it. As far as restaurant- we have a local place that does meals to go from the freezer and cooler - all homemade, top quality, reasonably priced, and they are crushing it.
Thank you heaps for what you`re doing - it`s helping a lot of us out there who has no idea how businesses are.
Gas station for sure with convenient store but very good location because the convenient store will be a necessity if truckers are going constantly back-and-forth or people traveling
My suggestion would be a gas station. I've managed and owned my own restaurant and they are non stop hands on businesses 24/7. Not the for you seen to be interested in. The other trend recently is a ghost kitchen where you own a kitchen/store front and rent the spot out to people to come in and setup and cook their food on their schedule when they want. You just have the equipment and location for those who can't afford their own spot.
I know a guy in Wisconsin who owns laundromats and car washes, does real estate and air B&B. How did he get his start? Installing windows. He now owns the largest and most successful window replacement/install business in the area. Which is a great way to find leads for more real estate. I think that may be a great idea for you instead of getting into drop shipping or the online space. Thanks for your content!
If you're going to get a gas station, make sure you have some kind of concessions store. The margin on fuel is next to nothing, but you can make a hell of a lot of money just off concessions. Restaurants require a LOT of startup time investment as well as time in general for ongoing operations. Generally you only make a small margin on food, but alcohol is where the money is. Overall the margin is probably better on restaurants, but a gas station would be much more of a passive investment.
Love hearing the rate of return on these businesses for investments. Disappointing self storage only 8% return. Love the numbers. All interesting ideas.
I've worked at a gas station, depending on your area and the economic disparity, you'll want all your employees to either be somebody you really trust or maybe family.
From my experience most product losses from customer theft, most actual money loss, is from employees.
You'll want complete camera coverage, so you can catch and prosecute.
On top of that I'd recommend daily cigarette counts I've heard horror stories abour employees taking whole cartons back in the day,also weekly inventory, probably based on areas, snacks one day of the week drinks the next ect.
And yes if you get a gas station you'll either want a restaurant attached, or food options inside of the restaurant or food warmers a soda fountain that sort of thing ect, because prepared food purchases like that will be your highest profit margin.
Also you seriously need to consider sales strategy, I've seen two different strategies most convenience stores us, one is lower gas prices to bring the customers and then higher prices inside the store to keep margin, the other way is to think of gas portion and covience store portion as separate, price both based on your competitors but push sales of in-store items up sell like items or commonly bought together items.
Have you considered a thrift type store? customer driven store, people bring in items, you price them to sell and you split the profits of that persons sales 50/50 with them. they would only be able to collect payment monthly on items of theirs that sell. This would would require a storefront with decent traffic, store fixtures and a few employees along with some opening inventory. This store does does quite well in economically impacted areas. I think you could pull this off quite easily.
Mini storage is what I plan on going with next. You should look into that, they are very profitable and not much upkeep and work.
There are plenty of gas station/food places. The best shrimp I eat in Florida is sold at a gas station. Best BBQ in Kansas City is sold at a gas station. If you do a gas station, set up a small hot dog stand inside. Low overhead and big margins in hot dogs
You know I really like watching the vending machine videos, where they go to Sam’s Club buy the sodas and snacks, and then going to the different vending machines and filling them up and then seeing them collect the money from them!
But as I watch these ones grow I see their struggles with needing vehicles to haul the product and places to store some product till needed so though they are enjoyable to watch and can’t see that being very profitable in long run, with cost of snacks going up!
Another plus for self storage is that there are not too many laws with evicting stuff vs people.
You're on the right track Brandon. In my opinion, restaurants are typically a bad idea and more so now. They are typically resource heavy, require massive amounts of time and inventory. With the uncertain future of America and COVID lockdowns, might be a disaster, making 2020 look like a walk in the park. No matter what the economy, people always need housing, fuel, food, laundry.
A real service station with grocery store and diner would be a good old-fashioned business. A catering business, tow company, full service carwash, barbershop, bar and motel could be great extensions.
Maybe a payday lending/check cashing business? I like the idea of buying a small strip mall and combining some of the ideas together that are synergistic. Gas station, laundromat, convenience store, carry out food, dollar store, payday lending/check cashing, etc. Maybe near your trailer park if it feasible.
How about a twist on Merry Maids. A food truck and a maid service in one. The maid comes to clean and brings oven ready meals. You train your tenants to keep things clean and help them pay their rent by working not stealing. The meals could be from the resteraunt that is only at 1/2 capacity due to lockdown.
During the 90's most, state & federal departments here in Australia began to streamline via redundancies (pay outs).1 man bought a petrol station (gas station in USA) & walked out 6 months later with nothing. He never had a mechanics workshop as a rental & he only saw busy times after work / weekends when tourists arrived. Profit on fuel is about 30-40 cents a gallon USD so the drinks, snacks, cigarettes, workshop is the bonus money to make a dollar or two. He walked out 6 months having lost all his money & Ignorance was to blame for it.
The most interesting would be the gas station, however, I wouldn't say that it would be a long term investment, as in 20 years it'll be worthless as a gas station. Make sure it has a good power supply so you can add EV charging as well, then add the coffee shop on the side (they make very little on the coffee but reasonable on the pastries.)
Do a gas station with EV charging and have a small food station inside the gas station or keep a food truck outside. I would love to open an gas charging station kind of like QT but only for EVs but I don't have any money to do that, but I really think that is the future. But if you don't want to do all EV you can have gas pumps as well. just a suggestion.
I would love to see more laundromat and real estate investment videos. It was the original reason I subscribed but I do love all your other investment videos too.
Convenience Store!!! I remember the video from March 2020, where you mentioned the sale of lottery tickets. The real winners are the stores that sell them. You’d make plenty of money from that alone. I’d charge a few cents less than nearby competitors for items that sell the most in the store. You’d make a VERY nice profit. You could choose whether you wanted to sell fuel & add charging stations when enough need arises.
In my early twenties when I moved to Florida I frequented the local Shell gas station up the road...
after awhile the girls that worked the closing shift would bribe me with beer to stay and help them close, basically go out to the U-Haul trucks they also rented and blow the boxes out with a leaf blower...
and also lock up the drive-thru car wash, that place was rite off I-95 and busy!
Gas stations have alot of hidden fees. How old are the underground tanks? Does your state require a class on fuel storage? Gas generally is not a huge markup. Restaurant depends on getting a right cook.