Grab your tickets to my 3-day interactive, live, virtual event February 21-23 NOW. Early bird pricing won't last forever! 👉contrarianthinking.biz/4jl18v3
OMG, I love Codie. I have been in several businesses since 1981, have grown from a welfare and food stamps kid raised by a single mom - to a multi-8 figure portfolio of businesses and assets. EVERYThing she tells you is #1 legit and #2 Codie explains it in a super easy way to understand. If you are sitting around wondering what to do - she gives it all to you - just pick one. #NoExcuseForFailures Love and admiration to you girl.
i know for sure that when you are in a successful business with profit margins, you always tell everyone else to do the same thing. that way you have competitors and you have to compete for business. step 1 - find a market where you are successful and making money. step 2 - tell everyone else they should do it to that way you have to compete against everyone. makes tons of sense. this is not a get rich quick, self help type video where the viewers of the video are the product. this is just telling people about how there is a secret money printing machine and these people are going to share the secret with you, because they care.
my dad bought a business like this but it ultimately did fail due to exchange rate pressure. he always tells me to find old dudes with no succession plan. solid plan to buy businesses with very little money usually
@@soothingmusic1607 we are in Canada and owned a tier 3 automotive manufacturing business. The big American tier 1 dogs(like ford) call all the shots and ofc their entire supply chain is in USD so they don’t face any unexpected surprise with the exchange rate Half-most of our inputs are bought in CAD, if the exchange rate goes too far against us, we get squeezed We had like multi year contracts with the tier 2s (like manga, polycon), they supplied the likes of ford. lol when we had too much work we would offload it to an even smaller plant, I suppose that’s like tier 4
@@soothingmusic1607 sorry I replied earlier with more detail but it seems to have not posted It was basically buying many inputs in CAD while making and selling auto parts in USD. When the exchange rate goes against you it can be difficult as the contracts with customers(polycon, magna, etc) are long term and they have a lot of power. They supply tier one manufacturers like ford etc, who call the shots and expect to pay for everything in USD, so they don’t have any surprises.
I worked for a large sweeping company had close to 300 properties 20 trucks the best trucks are the NiteHawk sweepers easy maintenance parts are inexpensive. I learned a lot from the owner he created multiple lines of revenue, but it was so overwhelming the business is 24/7 I am going to start my own sweeping company 5 trucks is large enough to maintain and still provide your customer with the best service.
Hi sounds good but how do you charge your customers? Per hour or per size or something. Could you please give me some information maybe i will start something here in Australia
@@sukhisingh5545 we learned from the video they charge 700+ on the higher end.... so I would work down from there. It also seemed like he was increasing monthly recurring each month?
I own a small street sweeping company in Florida, just 2 trucks. Maintenance on these trucks can and will eat up profits very fast. Depending on the truck, ( I have 2 Timco’s) you literally have 2 diesel engines that require meticulous maintenance. Sweeper brooms are expensive as hell. I make enough money to be my own boss but no way I can retire.
@dmvbay2535 buying more trucks doesn't change the maintenance requirements. It scales, but you also get a lot more opportunities for breakdowns. Vehicle based businesses are difficult. Also 800k revenue in this business isn't a lot of take home income.
@@grizzlyblue6389 “not scaling” is never the answer lol - he either needs to get out of that business or scale it. And it doesn’t change the maintenance requirements but the revenue u make the more take home money or money to scale u have.
I don't know why, but so many businesses seem to struggle this 2024. I know a self-published author, a hairstylist, a coffee shop owner, and a realtor saying the same thing. I am keen on retiring comfortably at 40 with at least $2m, only to spend more time with my kids.
I’m quite lucky exposed to personal finance at an early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 amid covid-outbreak, and at once hired an advisor to help stay afloat. As of today, I'm just about 10% shy of my $1m investing goal.
@@M.Herlihy bravo! mind if I look up the professional guiding you please? i'm ill-prepared tbh, my 401k gains are zero-nothing and my stock portfolio is going down too
I've stuck with ‘’Sophia Verdekal O'neal” since the 2020 pandemic, and her performance has been consistently impressive. She’s quite known in her field, so you can confirm her on the internet.
thanks for sharing, I must say Sophia appears to be quite knowledgeable... just inputted her full name on the web and at once came across her consulting page, she seems impeccable
Pro tip... learn to say NO to customers. Learned this the hard way when I owned a concrete construction company. Subcontracting is easy and profitable until something goes wrong and the customer looks to you to fix it and your reputation is on the line. I found that the "little extra on top" wasn't worth the liability and exposure.
Exactly! Plus, there are people in the world who have different morality & ethical codes + workmanship standards. So unless your super on-top of everything (and how could you be, this isnt core?!) your wide open to been taken advantage of by a host of rogue players.
I love Cody, she is always asks the right questions to get the right answers we are looking for. You and your team really have spiked my interests in businesses with a renowned perspective
That's why i love your shows. You keep everything real and simple. I love the fact that anyone can start a simple business like this. Thanks for this ma
Tired of the "recession is coming!" threat. Recessive periods come along with equivalent market opportunities if you are well informed and equipped, I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Risk mitigation is indeed something to consider well before setting out on inveestments. Most often than not, CFAs take care of this perfectly. People downplay the role of CFAs until being burnt by their own instincts. I was in a similar situation a few years ago; Took my chances but stocks went crashing. Realizing I wasn't good at timing the market, I started working with an Adviser, which helped me build a $1.6m portfolio.
My CFA ’Annette Christine Conte’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Imagine telling your friends you own a street sweeping business and they're like, 'Wait, what?' But then you drop the 'I make millions' line. Priceless! 😂
That's exactly the thing that makes your business oversaturated with copy cats and within 2-5 years there's no longer any money in it because gloating was more important to you.
Brilliant! For expanding a business if you think about 4 squares on one axis you have selling the same products to existing customers or new customers. On the other axis it is selling new products to the same customers or new customers. The square with New/New is called the "death square" because it is the hardest. But think about it, every business you start from scratch will be in the death square (New products to New customers). Buying an existing business and then selling new add-on products means that they have already seen that you can deliver.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but it’s hard to bite the bullet and do it.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
My CFA ’’Stacy Lynn Staples, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Stacy appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Glory!!! After so much struggles I now own a new house with an influx of $84,630.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America
Our God indeed is a covenant keeping God. Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $355,500 every month and I can only praise him and trust him more.
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
Stocks and Forex - an enlightened form of Investment, the place where millionaires and future billionaires would come for motivation. You are seriously missing out if you have never been in one. Most importantly If you know how to trade you can make a lot of money no matter where you find yourself
I strongly agree that Bitcoin ETFs approval will be lifetime opportunity for us, with my current portfolio of $108,000 from my investments with my personal financial advisor i totally agree with you
Your channel has been a huge part of my transformation, God is good tbh. l was owning a loan of $30,000 to the bank for my son's brain surgery (Oscar), Now I'm no longer in debt after I invested $8,800 and got my payout of $57,635.00 every months.God bless Patricia.
I thought about doing this kind of business because I use to work for a construction company back in high school that did this kind of work and I thought it’s was cool and simple but I wouldn’t know how to price the jobs and don’t have the Capitol to get started……great info Sanchez thank you 🙏🏽 😎👌🏽
$2,500 a month times 5 years = $150k That $60k purchase price must have had a pretty high interest rate. And it sounds like the previous owner still got the going rate for the used equipment.
@@danilomoreira9861 If there is one place to be critical in business, it's the numbers. A miscalculation or oversight can cause what you thought was a home run to have negative cash flow. Discussing this with new entrepreneurs is very important. A loss can sideline you for years.
@@giffy7962bro doesn't understand revenue vs profit. If you're making $75k a month, why do you have a $150k liability at all? Numbers matter, especially when it comes to profit and losses. Incorrectly tracking numbers bankrupts small business every day.
All of this sounds great but you also either need to have the capital to buy/start up the business, possibly equipment, fuel, insurance, maintenance, tags, plates, possible permits and licenses, payroll if you will have employees, and ect. Or… You have to have the credit to qualify for a business loan for the cash outlay you’ll need…!
I’m on biz scout and I can’t get past the 1st page. There are 3 pages and no matter what page I am on it only shows pg 1. Please try to fix. I am enjoying the clean look ! Great upgrade from the competitor 😊❤
Such a great business idea . Here in NZ there is monopoly in place which keeps parks and street maintenance locked in to big corporation contracts . Leaving the local little guys to pick up the slack on their own cost .
Kinda feel like this one is as good as it is because its Cali. I bet lot of people dont get what they do I know I don't. Ive see street sweepers here that move stuff from like corners of the street but it just moved the dirt over few feet it didn't seem to collect it.
I've been watching your videos lately and really enjoy them! The napkin math part of this video was a little confusing. Did I miss something? If someone made $1,480/day doing 2 jobs a day at $740 per job, with a $300 cost per job, that's $600 in operating costs per day. Wouldn't it be, $1,480 - $600 = $880 x 5(days a week) = $4,400(weekly profit) x 52(weeks a year) = $228,800? Still a lot of money, but $156k short of $385k
We have added hazmat clean up as part of our cleaning business, you just need a vacuum system, a couple of 330 gal liquid storrage containers a box truck, and hand squeegee's, to clean up fuel spills from 18 wheelers and gas stations, and any other type of clean up needed, we charge $15,000 per hazmat clean up, its a very profitable business to add to your street sweeping business. 🧐🤔😎👍
I say buy some land to store the trucks and equipment, stop paying 2 grand a month in rent. But that’s the only thing I would do differently. Great job ! And a very interesting business.
Lets get back to that Napkin math at 7:36: Charges $740 per job - $300 in expenses X 2 jobs per day you net $440 per job = $880 per day X 5 days per week = $4,400 per week x 52 = $228,000 per year NOT $385,000. If each customer is worth $6,000 then you have 38 customers that that get roughly 14 cleanings a year. That looks pretty doable with the presented operation. When you add up that lot full of trucks and stuff constantly breaking, accounting & tech fees, managing customers, maging employees, DOT, Insurance, fuel, water & winterization, chemicals (if your work somewhere cold). It's going to be a tough run but it could be done. The talking points are pretty good on the strategy and overall concept. Before you bet the farm don't forget to ask for those tax returns from the last 5 years just to validate the business's story. Without that the business is worthless.
Great video! I would like to learn more about the disposal side of it though. Is all the waste just dumped at a landfill? Does he collect it all in dumpsters on site and then ship it out?
I know a guy in this same situation. He has a street sweeping/paving business. He's in his mid 70s and wants to retire. He wanted to hand the business of to his son but his son is deadbeat.
Much Love! Big fan of your content! I didn't see anyone else mention it, and I like numbers..so.. I'm pretty sure the napkin math was wrong.. $740(job)-$300(cost)=$440/job $440 x 2 jobs/day = $880 $880 x 5 = $4400/week $4400 x 12= $52,800/year... Let me know if I missed something! .. 7:34 ..
Something is wrong with the math here. Charge $740 per job x 2 jobs a day = $1480 Minus $300 cost per job x 2 jobs a day = $600 $1480 - $600 = $880 profit per day, not $1480 $228,800 profit per year is still great.
Well…this is a MISERABLE job. I did it and if you have to do the actual work, you are in for a shock. I worked 6 PM to 6 AM and I know the owner left after me. If you are a hands off owner, it’s probably okay so long as your crews are reliable and you have an in house mechanic and good shop boss. Owners should probably still show up to manage things, which means you need to show up and do the overnights…which is back to misery. Owners had better get good private contracts too because the state doesn’t pay well.
Yeah, but he's running that business in very high cost of living areas in California. Anyone else trying to duplicate his business will fail to bring in those numbers because they wont be able to charge as high as he does in California.
Cities do very little other than water meter billing and connect/disconnect. Most everything is contracted - utility projects for water/sewer, street lights, paving. Infrastructure maintenance and new builds are bid to other companies
No mention of the average price of Gas/ Diesel per month, cost of vehicle insurance, public liability insurance, cost of medical insurance, finding good reliable mechanic who can respond quickly to service these types of specialised vehicles, at a reasonable price. Does he have his own mechanic & parts inventory for the cleaning equipment? If he is wheels ain’t turning, he ain’t earning! I would really like to see the P & L spreadsheet for the last 90 days and the balance sheet as well….
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Yeah, pretty much most recession proof businesses all have one principal they’re not glamorous hard work that people need is very few people want to do it nowadays
I make 65k- 80k/month in revenue selling pet meds and nutraceuticals on Amazon working out of my basement and garage. Net 21-27%, No overhead, no employees, no rent etc. Been doing it 13 years.
@@naomimercermckell8976 I miss the days of getting paid @k with my Lighting and camera Package. Now I have to compete with these Bozo's doing stuff for free and $150 a day people SMH
1. There's NO! business to small or to big to fail, 2. so there isn't ANY! business that's "recession proof" 3. competition, local municipalities, could always be a concern in this market place. 4. does?! the ends justify the means?!? how? often? and how? great is the need for this particular service on a regular basis?!? 🤔???
What happens when the next new guy comes along and is hungrier than you and undercuts your pricing…??? There is no customer loyalty in a business like this, you either clean their street/parking lot or you don’t…?
Just discovered your channel with this video -- I was able to think about my situation and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $190K per year but nothing to show for it yet.
I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.
Good business. I operated same type of business in the late 70's to early 80's, I would suggest adding lawn care and landscaping services too. These businesses complement each other very well.
Grab your tickets to my 3-day interactive, live, virtual event February 21-23 NOW. Early bird pricing won't last forever! 👉contrarianthinking.biz/4jl18v3
OMG, I love Codie. I have been in several businesses since 1981, have grown from a welfare and food stamps kid raised by a single mom - to a multi-8 figure portfolio of businesses and assets. EVERYThing she tells you is #1 legit and #2 Codie explains it in a super easy way to understand. If you are sitting around wondering what to do - she gives it all to you - just pick one. #NoExcuseForFailures Love and admiration to you girl.
i know for sure that when you are in a successful business with profit margins, you always tell everyone else to do the same thing. that way you have competitors and you have to compete for business. step 1 - find a market where you are successful and making money. step 2 - tell everyone else they should do it to that way you have to compete against everyone.
makes tons of sense. this is not a get rich quick, self help type video where the viewers of the video are the product. this is just telling people about how there is a secret money printing machine and these people are going to share the secret with you, because they care.
my dad bought a business like this but it ultimately did fail due to exchange rate pressure. he always tells me to find old dudes with no succession plan. solid plan to buy businesses with very little money usually
What do you mean by exchange rate pressure? If you msy kindly elaborate please
what is rate pressure?
@@soothingmusic1607 we are in Canada and owned a tier 3 automotive manufacturing business. The big American tier 1 dogs(like ford) call all the shots and ofc their entire supply chain is in USD so they don’t face any unexpected surprise with the exchange rate
Half-most of our inputs are bought in CAD, if the exchange rate goes too far against us, we get squeezed
We had like multi year contracts with the tier 2s (like manga, polycon), they supplied the likes of ford. lol when we had too much work we would offload it to an even smaller plant, I suppose that’s like tier 4
Some old dudes need the money in order to retire.
@@soothingmusic1607 sorry I replied earlier with more detail but it seems to have not posted
It was basically buying many inputs in CAD while making and selling auto parts in USD. When the exchange rate goes against you it can be difficult as the contracts with customers(polycon, magna, etc) are long term and they have a lot of power. They supply tier one manufacturers like ford etc, who call the shots and expect to pay for everything in USD, so they don’t have any surprises.
I worked for a large sweeping company had close to 300 properties 20 trucks the best trucks are the NiteHawk sweepers easy maintenance parts are inexpensive. I learned a lot from the owner he created multiple lines of revenue, but it was so overwhelming the business is 24/7 I am going to start my own sweeping company 5 trucks is large enough to maintain and still provide your customer with the best service.
Hi sounds good but how do you charge your customers? Per hour or per size or something. Could you please give me some information maybe i will start something here in Australia
@@sukhisingh5545 we learned from the video they charge 700+ on the higher end.... so I would work down from there. It also seemed like he was increasing monthly recurring each month?
I own a small street sweeping company in Florida, just 2 trucks. Maintenance on these trucks can and will eat up profits very fast. Depending on the truck, ( I have 2 Timco’s) you literally have 2 diesel engines that require meticulous maintenance. Sweeper brooms are expensive as hell. I make enough money to be my own boss but no way I can retire.
Get a loan and buy more machines to have multiple profit centers (trucks) and that will expand your overall revenue and profit.
Who are your customers? Cities? Lot owners? How do you get leads?
@dmvbay2535 buying more trucks doesn't change the maintenance requirements. It scales, but you also get a lot more opportunities for breakdowns. Vehicle based businesses are difficult. Also 800k revenue in this business isn't a lot of take home income.
Can you take home 200 k a year with one truck?
@@grizzlyblue6389 “not scaling” is never the answer lol - he either needs to get out of that business or scale it. And it doesn’t change the maintenance requirements but the revenue u make the more take home money or money to scale u have.
Keep these coming Codie! Love it.
Whoop whoop! Thank you
@@CodieSanchezCT Wow... Straight up fan boying right now...
They are pretty good videos
Love the sit in the middle tip between large and smaller competitors. That might now work in all businesses but here it does.
I don't know why, but so many businesses seem to struggle this 2024. I know a self-published author, a hairstylist, a coffee shop owner, and a realtor saying the same thing. I am keen on retiring comfortably at 40 with at least $2m, only to spend more time with my kids.
financial planning should be considered in order to get the best out of your money... business/savings/investments
I’m quite lucky exposed to personal finance at an early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 amid covid-outbreak, and at once hired an advisor to help stay afloat. As of today, I'm just about 10% shy of my $1m investing goal.
@@M.Herlihy bravo! mind if I look up the professional guiding you please? i'm ill-prepared tbh, my 401k gains are zero-nothing and my stock portfolio is going down too
I've stuck with ‘’Sophia Verdekal O'neal” since the 2020 pandemic, and her performance has been consistently impressive. She’s quite known in her field, so you can confirm her on the internet.
thanks for sharing, I must say Sophia appears to be quite knowledgeable... just inputted her full name on the web and at once came across her consulting page, she seems impeccable
Pro tip... learn to say NO to customers. Learned this the hard way when I owned a concrete construction company. Subcontracting is easy and profitable until something goes wrong and the customer looks to you to fix it and your reputation is on the line. I found that the "little extra on top" wasn't worth the liability and exposure.
Exactly! Plus, there are people in the world who have different morality & ethical codes + workmanship standards.
So unless your super on-top of everything (and how could you be, this isnt core?!) your wide open to been taken advantage of by a host of rogue players.
Sounds like "some money is too expensive". Something I live by now after learning it the hard way.
I love Cody, she is always asks the right questions to get the right answers we are looking for. You and your team really have spiked my interests in businesses with a renowned perspective
Excellent film and edit. A UA-cam career is an incredible opportunity.
Love this type of content. It provides so much value❤
Keep it running Codie!!!!!
That's why i love your shows. You keep everything real and simple. I love the fact that anyone can start a simple business like this. Thanks for this ma
One of your best videos Codie
Tired of the "recession is coming!" threat. Recessive periods come along with equivalent market opportunities if you are well informed and equipped, I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Risk mitigation is indeed something to consider well before setting out on inveestments. Most often than not, CFAs take care of this perfectly. People downplay the role of CFAs until being burnt by their own instincts. I was in a similar situation a few years ago; Took my chances but stocks went crashing. Realizing I wasn't good at timing the market, I started working with an Adviser, which helped me build a $1.6m portfolio.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
My CFA ’Annette Christine Conte’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing
Imagine telling your friends you own a street sweeping business and they're like, 'Wait, what?' But then you drop the 'I make millions' line. Priceless! 😂
But he doesnt make millions…
@@TT-ik3kd yeah this is not bad but hes got a ways to go before hes making a million. he can say hes on his way to making millions, optimistically
For anyone grappling with how to start in real estate investing, turnkey multifamily investments provide a solid foundation
Pandemic proof ?
That's exactly the thing that makes your business oversaturated with copy cats and within 2-5 years there's no longer any money in it because gloating was more important to you.
What a fantastic little... show? Interview? This should be the norm. You're fantastic at interviewing! Subbing is a no-brainer.
Brilliant! For expanding a business if you think about 4 squares on one axis you have selling the same products to existing customers or new customers. On the other axis it is selling new products to the same customers or new customers. The square with New/New is called the "death square" because it is the hardest. But think about it, every business you start from scratch will be in the death square (New products to New customers). Buying an existing business and then selling new add-on products means that they have already seen that you can deliver.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but it’s hard to bite the bullet and do it.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
My CFA ’’Stacy Lynn Staples, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Stacy appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Impressive how trusting your team allowed for growth even when you were away.
That’s true leadership!
This is why your videos are top notch, it's doable, informative, and interesting
Glory!!! After so much struggles I now own a new house with an influx of $84,630.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America
Our God indeed is a covenant keeping God. Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $355,500 every month and I can only praise him and trust him more.
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
Stocks and Forex - an enlightened form of Investment, the place where millionaires and future billionaires would come for motivation. You are seriously missing out if you have never been in one. Most importantly If you know how to trade you can make a lot of money no matter where you find yourself
I strongly agree that Bitcoin ETFs approval will be lifetime opportunity for us, with my current portfolio of $108,000 from my investments with my personal financial advisor i totally agree with you
Your channel has been a huge part of my transformation, God is good tbh. l was owning a loan of $30,000 to the bank for my son's brain surgery (Oscar), Now I'm no longer in debt after I invested $8,800 and got my payout of $57,635.00 every months.God bless Patricia.
Codie god bless you, wonderful stuff, I am about start climbing this path, looking to do what you are showcasing
I thought about doing this kind of business because I use to work for a construction company back in high school that did this kind of work and I thought it’s was cool and simple but I wouldn’t know how to price the jobs and don’t have the Capitol to get started……great info Sanchez thank you 🙏🏽 😎👌🏽
I like all the questions she made, straight to the point.
$2,500 a month times 5 years = $150k
That $60k purchase price must have had a pretty high interest rate. And it sounds like the previous owner still got the going rate for the used equipment.
I quickly did the maths also, and realised it didn't add up. I love Cody, but just curious..... how she did not pick up on the inaccuracy 😢
I love people like you, that always find excuses to not implement. Better for the doers! She shares gold for free, but keep complaining! Good luck!
@@danilomoreira9861 If there is one place to be critical in business, it's the numbers.
A miscalculation or oversight can cause what you thought was a home run to have negative cash flow. Discussing this with new entrepreneurs is very important. A loss can sideline you for years.
bro worried about 150k over 5 years when dude is grossing 75k a month lmao
@@giffy7962bro doesn't understand revenue vs profit. If you're making $75k a month, why do you have a $150k liability at all?
Numbers matter, especially when it comes to profit and losses. Incorrectly tracking numbers bankrupts small business every day.
Great episode. Good energy and really good pointers for looking at starting a business. Look forward to many more.
This is a great video filled with good info. You did an awesome job putting this together Codie.
All of this sounds great but you also either need to have the capital to buy/start up the business,
possibly equipment, fuel, insurance, maintenance, tags, plates, possible permits and licenses, payroll
if you will have employees, and ect.
Or…
You have to have the credit to qualify for a business loan for the cash outlay you’ll need…!
I’m on biz scout and I can’t get past the 1st page. There are 3 pages and no matter what page I am on it only shows pg 1. Please try to fix. I am enjoying the clean look ! Great upgrade from the competitor 😊❤
Codie, we have decided to invest some of our budget into Sponsoring your napkin subscription. Lone Star Trash napkins coming soon!
Also, thank you for explaining it so well. I hope your business gets better and better
Such a great business idea . Here in NZ there is monopoly in place which keeps parks and street maintenance locked in to big corporation contracts . Leaving the local little guys to pick up the slack on their own cost .
Kinda feel like this one is as good as it is because its Cali. I bet lot of people dont get what they do I know I don't. Ive see street sweepers here that move stuff from like corners of the street but it just moved the dirt over few feet it didn't seem to collect it.
I love this chapter and I love your style Codie. Thanks for the useful information.
I've been watching your videos lately and really enjoy them! The napkin math part of this video was a little confusing. Did I miss something? If someone made $1,480/day doing 2 jobs a day at $740 per job, with a $300 cost per job, that's $600 in operating costs per day. Wouldn't it be, $1,480 - $600 = $880 x 5(days a week) = $4,400(weekly profit) x 52(weeks a year) = $228,800? Still a lot of money, but $156k short of $385k
Realistically I've seen guys do $100k to $150k doing this with one truck and they're grinding. Not bad income though but far from this video.
Isnt that for one truck? he ran 4 trucks at a time... although didnt sound like he had enough drivers...
We have added hazmat clean up as part of our cleaning business, you just need a vacuum system, a couple of 330 gal liquid storrage containers a box truck, and hand squeegee's, to clean up fuel spills from 18 wheelers and gas stations, and any other type of clean up needed, we charge $15,000 per hazmat clean up, its a very profitable business to add to your street sweeping business. 🧐🤔😎👍
What do you do with Hazmat waste?
Just grabbed your Book from Audible. Can't wait to listen in December
I say buy some land to store the trucks and equipment, stop paying 2 grand a month in rent. But that’s the only thing I would do differently. Great job ! And a very interesting business.
Enjoyed the video, I dont know about Codie driving though. lol.
I have a street sweeping business with truck and contracts for sale for $30k
what state?
Lets get back to that Napkin math at 7:36:
Charges $740 per job - $300 in expenses X 2 jobs per day you net $440 per job = $880 per day X 5 days per week = $4,400 per week x 52 = $228,000 per year NOT $385,000.
If each customer is worth $6,000 then you have 38 customers that that get roughly 14 cleanings a year. That looks pretty doable with the presented operation.
When you add up that lot full of trucks and stuff constantly breaking, accounting & tech fees, managing customers, maging employees, DOT, Insurance, fuel, water & winterization, chemicals (if your work somewhere cold). It's going to be a tough run but it could be done.
The talking points are pretty good on the strategy and overall concept. Before you bet the farm don't forget to ask for those tax returns from the last 5 years just to validate the business's story. Without that the business is worthless.
Cody, You are a machine! You Rock!!
Holy track! 200k track ain't no cheap! But dude got business in his blood
Great video! I would like to learn more about the disposal side of it though. Is all the waste just dumped at a landfill? Does he collect it all in dumpsters on site and then ship it out?
I know a guy in this same situation. He has a street sweeping/paving business. He's in his mid 70s and wants to retire. He wanted to hand the business of to his son but his son is deadbeat.
At which location?
Please tell me how to contact this guy.
Want go in on a truck?
Dude give me that guys contact, I’ll work his buisness up to the moon
Many such cases. Great opportunities, but watch out for debt, deferred maintenance, sweetheart deals that applied only to “the guy,” etc.
Much Love! Big fan of your content!
I didn't see anyone else mention it, and I like numbers..so.. I'm pretty sure the napkin math was wrong..
$740(job)-$300(cost)=$440/job
$440 x 2 jobs/day = $880
$880 x 5 = $4400/week
$4400 x 12= $52,800/year...
Let me know if I missed something!
.. 7:34 ..
Lol. I calculated for net, not gross.. rookie mistake, I'm sure. Lol. I guess I'll keep watching and learning. 😂
@17:45 your passion is clear and I thank your for giving it your all....
Vanessa Van's ted talk "You are contagious" is one of my favourites
Something is wrong with the math here.
Charge $740 per job x 2 jobs a day = $1480
Minus $300 cost per job x 2 jobs a day = $600
$1480 - $600 = $880 profit per day, not $1480
$228,800 profit per year is still great.
Well…this is a MISERABLE job. I did it and if you have to do the actual work, you are in for a shock. I worked 6 PM to 6 AM and I know the owner left after me. If you are a hands off owner, it’s probably okay so long as your crews are reliable and you have an in house mechanic and good shop boss. Owners should probably still show up to manage things, which means you need to show up and do the overnights…which is back to misery. Owners had better get good private contracts too because the state doesn’t pay well.
Appreciate you!!
What have you realized in the overhead eg. maintenance, registration, insurance, licensing and bonding? Great video!
Yeah, but he's running that business in very high cost of living areas in California. Anyone else trying to duplicate his business will fail to bring in those numbers because they wont be able to charge as high as he does in California.
I thought the street sweeping was something the city did. I didn't know it was a private business
It's through contracted services
Same
Depends on the city
Cities do very little other than water meter billing and connect/disconnect. Most everything is contracted - utility projects for water/sewer, street lights, paving. Infrastructure maintenance and new builds are bid to other companies
No mention of the average price of Gas/ Diesel per month, cost of vehicle insurance, public liability insurance, cost of medical insurance, finding good reliable mechanic who can respond quickly to service these types of specialised vehicles, at a reasonable price. Does he have his own mechanic & parts inventory for the cleaning equipment? If he is wheels ain’t turning, he ain’t earning! I would really like to see the P & L spreadsheet for the last 90 days and the balance sheet as well….
The perfect Add On Business for him would be Graffiti Removal services... many cities have ordinances that require it to be removed quickly.
Profoundly true finish on this video.
Daniel from Nigeria !--- Thank you Codie Sanchez
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
Mind if I ask you to recommend this particular coach you using their service?
Her name is Patricia Strain. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
This video is good. Comes quick though.
Awesome!! ❤❤❤❤❤
Kid was at the right place at the right time with the ability to get the right financing is all. Very rare opportunity.
Take it to another level with fleet yard sweeps Large construction companies with fleet yards. Just a thought for consideration!
Love this!
I randomly looked at your account and found this. Thank god.
Cody looks so good in overalls
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Really informative, thank you
my parents sell and rent street sweepers, better brands than Elgin and Tymco as well, but these income levels are valid.
My question is where do you find businesses like this for sale?
Fire Chanel you make business interesting not lame and boring. I'm subbing now 🙏
Avocado water runoff - so basically spraying pesticides all over the city when ‘cleaning’
Love this channel. How did you get so smart? Savage!
Can you show your financial statement for the month including AP.
The insurance cost is crazy.
a little tooo much flirty but i liked the breakdown . also i was rooting for you the whole time 😂
Yeah, pretty much most recession proof businesses all have one principal they’re not glamorous hard work that people need is very few people want to do it nowadays
Great video!!!
I wish more young women admired leaders like Codie Sanchez, who stand for independence and real success, instead of pop stars.
This is excellent content
These videos are really good! She should make content : D
So how about next months and months before, or end of the year months??
I just subscribed to your channel and thanks for your work❤😊
I make 65k- 80k/month in revenue selling pet meds and nutraceuticals on Amazon working out of my basement and garage. Net 21-27%, No overhead, no employees, no rent etc. Been doing it 13 years.
'17:47'
Murica ✊️ Thank you!!
Sheesh. Codi is Genius. I'm over here looking at this. OG cinematographer here competing with a diluted Industry. LOL
Saaaaame-20 year voiceover professional in a market where supply is 10x the demand. Shit more now that AI can do half my jobs.
@@naomimercermckell8976 I miss the days of getting paid @k with my Lighting and camera Package. Now I have to compete with these Bozo's doing stuff for free and $150 a day people SMH
@@naomimercermckell8976 Yeah some of those Ai voices are not natural. I still like paying for real people.
Okay buying the equipment and hiring drivers is EASY but how do you find the people that give you the street cleaning jobs??
1. There's NO! business to small or to big to fail, 2. so there isn't ANY! business that's "recession proof" 3. competition, local municipalities, could always be a concern in this market place. 4. does?! the ends justify the means?!? how? often? and how? great is the need for this particular service on a regular basis?!? 🤔???
ahahah she was definitely flirting but Great Video!!!
What happens when the next new guy comes along and is hungrier than you
and undercuts your pricing…???
There is no customer loyalty in a business like this, you either clean their street/parking lot
or you don’t…?
Just discovered your channel with this video -- I was able to think about my situation and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $190K per year but nothing to show for it yet.
I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.
Revenue and profit are not the same.
Hello Codie amazing channel. I live in Massachusetts what is the best way to find out which businesses are for sale. Thanks
How much overhead payout before 54K? Maintenance ,insurance, licensing, fees, etc…. That is some good money for a month.
Comment at the last minute is so funny ! Made my day.
Good business. I operated same type of business in the late 70's to early 80's, I would suggest adding lawn care and landscaping services too. These businesses complement each other very well.
So how did he FIND the business in CA if he was in AZ and had been looking for years? What's the best services to use to find small businesses to buy?
contrarianthinking.biz/bizscout-yt
Codie can rock a pair of diggers ! Cute 🥰
It is definitely worth watching until the end 😉