Hello @CodieSanchezCT, I’m seeking a resource I can compare business revenues to identify which have the highest Operating Income relative to entry cost. I’d pay to know how I can focus my efforts on acquiring those businesses sectors and services. Any help would be appreciated. Thank you!
@@user-lr5cx1ni4r she didn't say that you should get into these businesses. She said these are the ones that statically DO NOT FAIL. Why are they bad ideas in your opinion I'm curious???
@@user-lr5cx1ni4r Please enlight me on how is real estate an awful business bruh. Hold, Let me grab my popcorn while your brain blows up trying to think on this one bruh.
I hope this message reaches Codie. Thank you for all of the information you provide for free. 18 months ago I was working a stable medical job (PA-C) making $100,000/year. I discovered your channel and loved what I heard. I decided to pursue buying a small business. I spent the next 6 months learning and finding a small business. I decided to pursue self serve car washes, made a list of local ones, and started cold calling. I found an owner looking to retire and ended up buying his 2 car washes June 2023. Fast forward 1 year, and I have quit my medical job, I own 4 car washes and a car window tinting company and am on pace to make over quadruple my medical salary all while working ~20 hours per week. Thank you Codie for incredible knowledge you bring people every day.
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "DEBORAH SUE BOHN", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
All but Trucking as the industry is very misleading. Trucking has a low barrier to entry yet in recent years have a high failure rate. As a matter of fact most lenders have placed new trucking startups in the risky business category and have excluded them from startup funding. You have to buy new vehicles as maintenance can put you out of business before you get started. Staffing is also a huge issue. Keeping staff on long term is almost impossible
Thanks for the video! I think the worm business would take one of those top spots :) They sell for a pretty penny per pound, and they make the best fertilizer on the planet AKA Black Gold! I raise millions of worms for fertilizer for my garden and to teach others how to care for them :)
This time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!
I invested in some stocks myself using pure speculation. Long story short, I blew my account and lost it all with one wrong move. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $10k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now with over 81k in roi, I sit back and just reinvest at intervals while I handle my other career and family.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence. It's all gambling
Building wealth involves cultivating good habits, such as consistently setting aside money for solid investments. Rather than attempting to predict market stability and timing changes precisely, a more effective strategy is to maintain a well-prepared portfolio for any eventuality. This approach has enabled some individuals to average $150K every seven weeks over the past four months, according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Sharon Marissa Wolfe for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
people need to realize that businesses mainly tend to fail due to the businesses not obtaining enough customers. Marketing and sales are very valuable skills to have. I started Amazon a year ago and already crossed 150k\month, what I liked about Amazon that you do not need to bring traffic yourself (Although you could).
I am glad to hear about your success. I started Amazon FBA as well but little struggling, Do you mind to explain how to rank to best seller? And can you share where did you learn? youtube information is very limited
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.
Making touch with financial advisors like Kimberly Kent who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $300K stock portfolio from decline is my main concern, but I don't really know which way to go.
Yeah, things may be hard right now, but I've come to realize both bear and bull market, recessions and economic boom, all provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
I agree. I've been working with a financial advisor since 2020, and I return up to 15k every month, and I don't even have to lift a finger. Although I also think the reason I make this much is because I started with significant capital.
That makes a lot of sense. To be on the safer side and not second guess your market decisions, I’d suggest you reach out to a proper investment adviser for guidance, they’re better equipped at understanding market patterns/movements and adjusting portfolio to match up with these market trends
There are many independent advisors to choose from. But I work with Melissa Elise Robinson and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
At the age of 23 I purchased a residential Assisted Living Facility or “Senior Care Home” with no money down and a $350k loan and sold it for $1.3M. It helped fund our next businesses as well. Thanks for sharing Codie!!! Love your content!! I always get excited when people talk about senior care because it’s not that common amongst the business community.
@@justinhenryrebel it was listed for sale with a broker. It had always been licensed as an assisted living facility so we purchased it vacant with the intention to use it as a residential assisted living facility. Now they are popping up all over.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
The adviser I'm in touch with is 'Catherine Morrison Evans, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
The vending machine industry is very tough, in my experience. I did it for several years. Failure may be low, but it's a long and hard grind. Finding ideal locations can be very difficult, as they are limited, plus it's a highly competitive market. Secondly, if your product is perishable, it's very easy to end up with waste. Sale trends are unpredictable (week to week changes). Maintenance and repairs are also rather costly, due to a lot of moving parts and people abusing your machines.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing
@Patricia Martin I'm sure the idea of a Investment-adviser might sound controversial to a few, but a new study by investopedia found out that demand for Invstment-Managers sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've raised over CAD580k within 18months from an initially stagnant portfolio worth CAD150K which was devoid of dividend stocks. These are the high-volume traders.
The vending machine industry is very tough, in my experience. I did it for several years. Failure may be low, but it's a long and hard grind. Finding ideal locations can be very difficult, as they are limited, plus it's a highly competitive market. Secondly, if your product is perishable, it's very easy to end up with waste. Sale trends are unpredictable (week to week changes). Maintenance and repairs are also rather costly, due to a lot of moving parts and people abusing your machines.
@@LisaMaeFilms In order to make a living, you need numerous machines, so that means numerous locations. Finding them is very hard, and finding profitable locations is even harder. I've had several locations that would sell around 3 items a week, if I was lucky. Not nearly enough to help sustain a business.
@@keithwisdom1663 Fair enough, but I'm fortunate enough to have a skill set that places me above the minimum wage bracket, which is why I checked out of this vending business.
I agree with #1, #2, and #3 as I've personally have invested my hard money into these business. I have to COMPLETELY DISAGREE with #6 regarding senior care or healthcare. We started a residential assisted living home by converting a one-story 5,000 sqft home in a residential home into a senior assisted living facility. This is not a real estate play and is absolutely a heavily labor, staff, and customer intensive business. Unless you've owned, experienced, or invested 1st hand with your own money at risk, I would avoid and run away from this last #6 business. PM and I can tell you the countless horror stories, sad situations, disturbing, etc. Save yourself the time, headache, and money and go with business #1,2, or 3 instead.
Literally I've seen every single business on this list fail with some regularity in my community alone. I get it, these are less likely to fail but I think being an internet "financial guru" has the lowest failure rate, "teach" people skills that you don't have without giving the drawback and downside.
The stock market rally run is over but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k
very true! I started investing in 2021 and that same year I pulled a profit of about[$300,000] with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisor, so you don't necessarily need to be a perfect investor, just have a professional assist you.
How can one find a resourceful FA, I buy the idea of employing their services, its a shame market crashes as of late have become a sort of habit for stocks.
My advisor is ’DELLA MORLEY PRATHER’’ In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Having a coach is key in a volatile mar-ket, My advisor is "Eleanor Cecilia Schnell" You can easily look her up, she has years of financial-market experience.
The public storage business model is, by far, the highest-profit versus lowest-risk business discussed in this video. Of over 100 public storage businesses I know of, every single one of them has remained hugely profitable every year, no matter what the economy is doing, and no matter where they are located (even in very rural communities). Oddly, they seem to do slightly better when the economy is actually doing worse. What's more, there is far less risk or maintenance involved, as you don't have to worry about things like broken plumbing (like you do with homes), or other costly issues, and as long as you have all the proper legal and insurance protections in place, you'll never be at risk of legal issues, provided you aren't some type of criminal. Seriously, if someone gave me $10 million today, I'd invest all of it in a storage unit business, and then spend a lot of time picking out a good married couple to manage it for me, and even do a profit-share program with them, so they had a vested interest in the business's success. Within 6-8 years (most likely), I should have recouped my money, and from that point on, I should be clearling high-six or low-seven figures per year. Sadly, other investors have known about this for over a decade, and have started to buy up all the storage unit businesses in several parts of the United States.
I like the ideas about laundromat and self storage. Long haul trucking however is getting killed by brokers (taking 20-50% of the profits from truckers) for basically doing nothing. Plus with fuel costs and mechanical breakdown, pretty much only large Corporate players are surviving this market.
Insurance and maintenance costs have gone through the roof too. Too many trucks for so little freight. Even the bigger carriers are feeling the heat too
A WEALTH TAX would do some justice…. Just saying! Some people have never had any wealth due to this capitalist system, even the ones who worked for it for many years!
Stacking the odds in your favour definitely makes sense. I would add that you need to have the right mindset , be consistent and be at the right place at the right time. I have made some big mistakes that took years to get out from under...going all in to Real Estate just before a recession, putting life savings into the stock market just before the biggest downturn since the Great Depression...etc. This video gives me inspiration again. Simple is good. Low risk is good .Yes. The biggest challenge has been getting past my learned cynicism. Thank you.
Omgoodness you sound just like me once worth 400,000.00 to 5,000.00. Had 4 houses 2 paid off then I crushed my back in bed for 3 years and.... I was 48 years old now 65, I'm alive and well which I know is the greatest blessing in life but.... my social security is 600.00 a month so what would you suggest? Thank you, hope all your dreams are coming true! Teresa Griffin
Yes people don’t highlight mistakes. Yes, real estate has been good for many years, but it hasn’t always been. You really have to do your homework before buying
The financial market is one of the most powerful wealth creation tools that we can use to become extremely wealthy. If you save money, your bank account will grow by a certain amount of money each year. If, on the other hand, you invest your money, your portfolio will grow by a certain PERCENTAGE each year. The distinction between these two concepts is enormous. My net worth has grown by $800,000 since the fourth quarter of 2019.
There are numerous misconceptions about investing in the market, which is why so many people fail to capitalize on it. However, given the current CPI figures, it is not advisable to have money sitting around with no or little profit. I have $60,000 to invest, but it's difficult for me to bite the bullet and do it. What happens if I lose everything?
You need a Financial Advisor, my friend, to avoid being taken advantage of. They offer personalized advice to individuals based on their risk tolerance, putting them among the best of the best.. Some have a terrible reputation, others with a strong track record can be quite good
I completely agree with you; they can have a positive impact on an individual's portfolio. I began with “CHRISTINE ANN PODGORNY” a trust Financial Advisor. She is verifiable, and her work ethic is in accordance with the 1940 US Investment Act. Her approach is transparent, low fees, and gives me complete ownership and control over my portfolio.
I've been wanting to start investing for a few months but haven't had the courage to do so because the market has been down for the majority of this year. Please tell me how I can rely on such abilities.
@Philip Max Good choice you have made, its also impressive it has worked out the way you planned however not everybody knows their way around the stock market, I did some trading my self last month I lost some cash lol, do you trade yourself? are you a Professional ?
A lot of laundromats start to fail in Belgium as the electricitybill rises month by month. And it's impossible to ask 10 dollars for a wash for example. Talked to an owner who said It is cheaper to close than to keep it running. I think every type of business has their time of hardship.
Interesting! Really appreciate your insight from so where do far.....I'm in the U.S.......hopefully you continue to be safe and have a prosperous life 🙏🏾
Ofc yall want "clean energy" and decided to buy US war against RU and now are going to literally cripple and die during winter for lack of gas and energy.
@@Bilbyflix Those are big investments and the ROI is not that big then i guess. And also mostly not an option as you may not own the building for example.
@@Bilbyflix The electricity required to run a solar-powered laundromat would require way too many panels and batteries to make this cost effective. Dept of Energy has looked at all kinds of energy-efficient models, but there aren't really good options other than electricity or natural gas-powered dryers right now. However, if you are a clever mechanic, develop something and help us all, please!!
Here's a relatively cheap one for you - A lawn mowing business. Seriously. You need a lawn mower and a vehicle to transport it. As you get more customers, you can expand with cash you earn from the business. If you don't get more customers, your losses are the cost of a lawn mower and a truck. And if you are one of the millions of Americans who already own a truck and mow their own lawn, your costs are virtually nothing. Oh, and you can write off both on your taxes as a business expense. Your only other upfront cost would be fuel, but that would only be needed if and when you had a customer. Depending on where you live, you could probably get away with charging $50 for a standard middle class sized yard. Add a few services that don't require a lot of equipment, like raking yards, picking up and hauling away branches (in demand after heavy storms), driveway cleaning, etc.. and you could have yourself a nice little profitable business very quickly.
Im an engineer and researched a lot about what side businesses to get into that has little oversight and came across owning a route delivery business. Now I own a Pepperidge Farm Route and service 7 large retail locations and 4 cash stops and have a full time driver driving the route and servicing these stores for me 4 days out of the week. We work out of a shared depot with other distributors and we get snack and bread deliveries there that we stage in our own section and load our trucks with and go out and do deliveries. Now I only sit at home and place 2 orders online weekly while my driver takes care of the rest for 10% of the weekly sale as pay. Its amazing! And so much potential to grow with more locations and also buying other routes. One guy in our depot owns 4 routes. I look forward to the day I own multiple routes.
@@ambitious6396 Sure, theres all kinds of route businesses for sale such as ATMs, FedEx, Bimbo, PF etc. You are buying a territory that only you have exclusive rights to sell to retailers so all the Walmarts, Meijers, Krogers in your territory can only buy from you and no one else. You are paid a comission from the weekly sales you do to the stores.
Hmmm. If you are paying your driver 10% of weekly sales, just wondering how much commission your biz is getting from the producer? The commission must be very lucrative and good.
@@oldbanker Depends on the company. PF pays out 23% for bread and 20% for snacks. Most distributors are owner operators but I dont want to stop at 1 route Id like to expand to multiple routes with multiple drivers running it so Im okay making less since its not my main source of income.
*VERMONTCORPLTD* is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
Hello Codie, my husband and I just got approved for $98,000 in small business grant program. We own a clothing brand that we have intended to invest this money on, but I will appreciate if you have other business suggestions because this is a one-time life opportunity, and we want to make best use of it. Appreciate your reply🙏🏽. I subscribed ❤
Making money should be a routine A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
As with any big financial decision, it’s important to keep your guard’s up for economic risks. However, smart planning, time management and seeking advise from a financial adviser can help keep you and your money safe.
@@MatthewVinson She’s a verified CFP and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
The first step is to not tell people on the internet the amount of money you have in savings while using your full name and a pic of you. I would delete this message or edit it to not say the amount of money you have.
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I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
@@PhilipMurray251 I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
@@driftgod7894 Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like " Donna Di Lanni , who can help shape up your portfolio.
I am thinking about a new type of restaurants: eating-spots in eating-spots, food keeps changing, chefs also rotate this is opposed to current restaurants, thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants. along with that, there is an app, people vote for the food that will be cooked in the next days menu is influenced by the live input of the people via an app.
About 20 years ago my husband and I researched campgrounds and RV parks. We read that the ROI on them was very quick. I'd love to hear what you find out about them as a business model.
@Jody Hakala-Ristow We didn't get one. It was over 20 years ago and was mostly RV parks that we looked at. Now that Hip Camp is a thing, we are revisiting the idea. Should have got in sooner before Missouri land prices have skyrocketed because of so many people moving here to homestead.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Right! mostly because professionals manage most of these tactics and loopholes better. I was able to scale from $35K to 65K this crash by following my coach's advice
@Bianca Rantzsch | Your Way of Life: Individuals constantly fight with the obvious temptation to want to do tasks on their own while overlooking the existence of a process. Direction and fundamental data cannot be overlooked, which is why you risk getting buried in the market noise (consolidation) or ignoring some critical factors that have an impact on the performance of any asset. Stocks generally follow the fundamentals, and markets are more complex than merely technical analysis.
Hey Cody, thanks for the video I’m new to you. I’m selling my sass company and hopping on Flippa to see what they are up to. 🙂 I’m 62, built 7 businesses and love that you are leading the next generation of entrepreneurs. You are an inspiration!
Wow , You are also inspiration to us. It will be my pleasure if we get connected on any social media platform to know more about your successful journey. Thanks
I am thinking about a new type of restaurants: eating-spots in eating-spots, food keeps changing, chefs also rotate this is opposed to current restaurants, thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants. along with that, there is an app, people vote for the food that will be cooked in the next days menu is influenced by the live input of the people via an app.
Hi Codie, just wanted to drop you a note that the website that you mentioned around 1:44 of the video as "The Chamber of Commerce" is actually a for profit affiliate website, not the official website of the US Chamber of Commerce government entity. They didn't do a study in conjunction with Speed Queen, they are simply referencing a study that Speed Queen did on their own, which again should be taken with a large grain of salt considering they are a private laundromat franchising business.
I have saved up quite a reasonable amount and I am equally confused on the where and how to invest it. Currently stuck between four options Laundromat, stocks, Senior care centers and Real Estates. Can't seem to find the most appropriate one as I also battle with time constraints and sustainability.
Why not at least two/three of them? Given the present economy, you should never forget to diversify. Do not put all your eggs in one basket. As one who has been into Real Estates for as long as I can remember, I made my first million earlier this year from stocks alone (through the help of a pro though because I also don't have a lot of spare time). I also experiment with a couple of other things. Hard to imagine that I had initially refused to try out new possibilities. Good luck.
@@dannywalters958 Very sound and pragmatic. I have been into both stocks and housing for sometime now and though I won't say I have lost a fortune, I have squandered quite a lot. If it's not a problem, do you mind recommending the pro. you worked with? I could definitely use the help of one right now... I look forward to your reply...
@@Mrcarlson_E Funny enough, I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to go into details here, but her name is "Leah Marie Sandock". Was in the news a lot in 2018. You may look her up for more.
@@dannywalters958 wow I know this little lady. Once attended a fundraiser she was also in attendance in Vancouver,, Great speaker with a funny accent,, She's American though, I doubt she works with foreigners,,,
I'm a truck driver and have heavily researched the topic of running a small business. It is a tough time to start and you've really gotta know how to manage risk. If you rely on one truck for all your business and that truck goes down, you not only gave to pay to get it fixed but also you lose out on the money you could be working. A bad enough breakdown will bankrupt you if you're not prepared.
@@bendover-bz4bc maybe insurance but most trucking insurance doesnt to cover this, if you get a warranty on your truck purchase you might get lucky with that and not tank your business
I’ve seen a lot of tough guys crying for real in the Trucking Business. It’s really hard but once you get things in control you can make a descent living 6 figure plus.
I just became aware of your channel and I am LOOOOOVING IT! I started with the Lone Star guy (phenomenal video BTW) and obviously watched this one. What makes it great? YOU!!! I cant wait to watch more!
Nice video. But let me talk about something major, I see both young and old making mistakes they shouldn't be making, I think everyone,both young and old, should have an investment plan that increases their financial return by three to six figures, the investment can be your retirement plan or your investment plan, whichever you want, but what matters most is that you have a profitable investment
@@mariocastaneda1442 Investing in Forex or the cryptocurrency market needs a professional to guide you to avoid losses because the signals are not exactly easy to read, that's why you have to invest with an expert for a better profit.
@@mariocastaneda1442 Angelina Morris is the best expert I can recommend, I have made a good profit investing with her and I'm still in business with her.
There is something to be said about a self storage with a manager on-site. It definitely gave me peace of mind that issues could be addressed quickly, if/when they pop up. Luckily, they never did when I had a unit, but I would pay a reasonable amount more for that personal service.
I am glad I made productive decisions about my finances that changed my life forever. I am living in Vancouver Canada, bought my second house in September and hoping to retire next year at 50 if things keep going smoothly for me
@@ariaibrahim1291 Yes it sure is. I put in money in investments and get profits. That 's how I make more money without working. This does not sound new to you right ?
@@chrisjohn7823 Yes I recommend the service of Mrs Caroline Renee Steiger she is a great financial consultant and has made a great impact on my financial journey.
@@lilianazuluaga6504 yeah she does, she's an exceptional and lucrative broker at same time. I just bought my dream Mercedes from last weeks profit. All thanks to her expertise.
There are a lot of strategies to make tongue-wetting profit that the average joes don't know. . Personally, the financial-market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
If you’ve got patience I believe it’s a great time to invest… I’m no expert but as Warren buffet said he’s seen this happen a number of times throughout his life
I've known I had wanted to start investing for a few months but just haven't been brave enough to start due to the market so far this year. I have $60k I want to transfer into an S&S ISA but it's hard to bite the bullet and do it. $457 is a huge milestone, Please what's your strategy? I will love to have an insight
I began with a fiduciary portfolio advisor by the name *PRISCILLA DIANE AIVAZIAN* . She’s verifiable and her works ethics is in accordance with the US investment act of 1940. Her approach is transparent allowing total ownership and control over my portfolio with fees very reasonable in comparison with my investment-income. Also, She covers things like investment insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that.
*PRISCILLA DIANE AIVAZIAN* really seems to know her stuff. I looked her up on the web using her full name and found her page, read through her resume, educational background, and qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I'll book a session with her
Hi Codie; I have to humbly admit I’ve just discovered you and your chan after I’ve seen your interview on “The diary of a CEO” so I’ve subscribed here and this was the 1st video I’ve watched. Spot on inspirational, but even more so, I found it as exactly the kind of encouragement one needs to get when in the mindset of getting rid out those golden handcuffs you were talking about wearing yourself at some point. The thing is, personally I am very lucky to very much enjoy my job & work, but I am still on track to keep my promise I made myself when letting go of my full time business in my 20s to go get employed and, as I said back then, “learn on OPM for a while” before I come back to doing my own thing. Again, thank you, you are a true inspiration! One!
I love this Codie. Another option to consider is a simple parking lot litter cleanup business. People litter. They always have and always will. Fortunes are being made by people willing to clean up after others. I started this business in 1981 as a side hustle and grew it into a six-figure business of 40+ years. I started with little money, skills and education. It's almost as easy as a walk in the park! The service is performed on-foot using simple hand tools. You contract with property management companies (and others) to maintain their commercial properties litter free. You can't fail so long as you're passionate, patient and persistent.
I’m trying to find things for my teenage son to start doing. This sounds legit so I’m gonna bring it up to him. :) How many times a week do you visit the properties? Any tips? What’s the name of your business?
I recommend service 3-7 days a week depending on the size and tenant mix of each property. The focus here is to maintain these properties litter free rather than cleaning up a build-up of litter debris. I offer tips and free support in my book Cleanlots - America's Simplest Business@@I.am.emmyxo
This video is incredibly valuable for anyone considering starting a business or looking to diversify their portfolio. The key takeaway here is crucial: Before diving into a new venture, potential entrepreneurs should evaluate which of the discussed businesses align most closely with their personal skills, talents, and experiences. Choosing a business that complements your strengths increases your chances of success. For those thinking about diversification, it's not just about aligning with your abilities but also about whether you can assemble the right team to support this expansion. Building a strong team is essential to manage and grow the new business effectively. By following this approach, you're more likely to avoid the high failure rates Codie mentioned in the video. Thanks, Codie, for another insightful video!
I am an investor, broker, and owner of Commercial Real Estate. People always ask me how do I get into what I do. This video is definitely one I will start sharing. It's a great exposition and it's brief where people can definitely engage. Good work.
I would love to start a business that sells retired laundry from storage facilities through a vending machines located in a retirement community building that I collect rents from.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
" It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid , instead of trying to be very intelligent."
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I really appreciated all the stories of different business experience. So I want to share my experience right now in business #4 Transportation. I'm a CDL A Commercial Truck Driver. I own my truck in 2020 at a good price with 2 years if driver experience. I buy a job, consoius of that trying to escalate at some point. But an upgrade from employee to owner operator. 1st year was great, second was declining and 3rd year I ended up selling truck with a bunch of debts in my back of high cost repairs. I do savings of 10% at the beginning to 50% at some point. But when this trucks break down repairs are thousands, tow can be $600. I got one repair of clutch $10,000 and I fix one thing couple weeks another $7,000 etc So the savings blow out, no profits, no income when truck have several weeks in the shop. I do long haul, prices per miles still dropping, diesel price up high. So I share all with you so is my personal experience. I'm here because need to continue learning and I don't give up!! Looking for next business opportunities 🙏
Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..
The first step to wealth creation, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m glad I was able to hire a financial advisor John Desmond Heppolette, earlier this year while others were complaining about the downturn in the financial market, I was busy cashing out from my investment, eventually making over seven figures in the first quarter alone…
That's great, your financial advisor must be really good, I have seen testimonies of people using the help of financial advisors in making them more financially stable. I just discovered his exceptional resume when I made a Googled search of his names. I consider it a blessing that I discover this comment area!
I’m impressed by John Desmond Heppolette, professionalism and expertise in financial planning. He took the time to understand my financial goals and provided personalized recommendations that have proven to be successful, with this guide I make monthly returns from investing in assets and mutual funds..
It amazes me greatly how I go from living an average lifestyle to making over £63k monthly, utter shock is the word. I've learned a lot in the past few years to doubt that there are plenty of opportunities abound in the financial markets; the only thing is know where to focus.. Thanks to John Desmond Heppolette.
My favorite is the senior care. I’m currently working on opening locations in Austin. It’s a lot of red tape and marketing that goes into it but it’s worth it if you have the right partner or funding
Austin Texas? good lord I hope you got lots of reserve capital there... youre going to need to hire a good legal firm and keep them on retainer. the real-estate is too high. perhaps more south like Kyle or towards Lockhart maybe even out towards Dripping Springs? that way family is within driving distance maybe?
The trick having right information and knowledge about what you intend to do, it helps very much that the physical cash , any business will always be victorious but mind set and grit so common to success.
Sometimes business is good,sometimes is not good but one have to keep doing what is best to get more income,without doing anything you can get profit so keep doing your business.
@Jonathan Sexton Oh right. Whaaaat? I have no idea what you mean, that stuff would make me flip my lid. The guy is simply making an observation. Realistically most people will not be able to start these, not to say that was this video's intention.
My question for you, when you buy a business like a carwash or laundromat that is not close enough to drive to often and check on yourself, who do you get to empty your cash out of the machines? Is there a company you hire to do this for you? Or do you hire someone to manage it and hope that they don’t pocket cash while emptying the machines?
I had a successful flower shop for over 6 years , I sold in 2010 cause things started going south , I owned the property. The sale was horrible, but glad I did it , put 2 kids thru college with it , employed by others after , for 12 years now and hate it sooooomuch and not doing well mentally . ..that’s the hard part , working for others after being self employed
Probably one of THE BEST business summary videos I've came across. Over the last few years I've looked at and considered pretty much everything on this list. Bravo!
I'm a Small business owner surviving the ups and downs. Love your content because it helps me think of my business vs working in my business. Keep up the amazing channel! 💪🏼
Speaking of messy toilets lol!..the average age of a plumber in my state is 55 years old!..I’ve been one for 27 years myself and it’s absolutely mad!..no one’s hardly getting in to the trade and I don’t know if it’s fail proof but damn I’m thankful for my business in this current climate of “gloom and doom”. I honestly don’t know other than my passing what would slow me down.
Great content. I loved this topic because you did the work for us that are looking into starting a business. Maybe you should do a video on the worst businesses according to the data, to show a contrast.
You can make almost any business work and be very profitable. There only a few things you need to do. 1. Do what you say you are going to do. 2. Do it well not just good 3. Complete the job, task, product on time. Market all the time never stop talking your business up. The old adage is 1 unhappy customer will cost you 100 customers but in reality sure they will blast you but 1 very happy customer will net you hundreds over years if you keep in touch with them.
First video I've seen of yours. I own and run a retail store 5 years out now. And also farm, and wholesale too. I'm looking at laundry mat, storage that have been on my mind for a few years. Glad to see it hit your list for what that's worth.
@@suzysurgent62 The non-glamorous answer: I had about 10 years of savings as we were charting our moves. Also Codie has videos on SBA which could be helpful if that's what your looking to do. Things have changed in the last 5 years of commerce as is such with life. If your looking for some feedback drop your email here and I can reach out. Plenty of experts here on UA-cam to get you educated and thinking that's for sure.
Nice video... some of these business surprised me. However, when I think about it the businesses that do best are main staple industries. Things we need regardless of the economy. Laundry Mat will always be a need as far as I can see.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)
The advantage of real estate is depreciation. You get just as much of a bang for your buck and tax write-offs as you get in income. The problem with real estate is that only one bad tenant can ruin you. Assuming every tenant will be a good tenant is a fallacy.
Codie your content is excellent you always nail it. Instinctually I followed your advice since I've quit college at 20 years old. Owning three of the six businesses you mentioned. You encompass the Buffett investment model in your philosophy by looking for strong cash-flowing businesses that have a high predictability of future cash flows and a low probability of decline
Laundromats and self-storage locations are an already saturated market along with vending machines that are not only saturated but also in some markets run by people that don't like competition. As far as buying an over-the-road truck, being an owner-operator is almost impossible these days. The good-paying loads that used to make being an owner-operator very profitable are few and far between these days, and in Arizona, they are using driverless technology for over-the-road trucks between Phoenix & Tucson. There is still some room in assisted living but getting approved and licensed is only slightly easier than building a nuclear reactor.
Giiiiiiirl! You are a pessimist. I live in Mesa, AZ where there’s a laundromat every few miles and let me tell you, I will drive an extra 10 minutes to go to the cleaner and slightly more expensive laundromat because it has TV’s and a bathroom. My bf’s uncle owns a storage unit in a very saturated area in CA and he does zero, zilch, nada, and makes more in 1 year than I do in 5 years at a regular JOB. I don’t know about the automated transportation you speak of but I hustle deliveries in my spare time and make $200 a month working just a few hours so there’s opportunity. I see opportunity everywhere.
She’s saying that because you stated the laundromat market is oversaturated. Quality and Quantity. Although it may or may not be oversaturated. How many of them of are good quality? She’s driving the extra miles to go to a better laundromat… so basically you could still open a laundromat in the area that’s newer, cleaner, and maybe better prices
@@0Sheen11sheen Unless you are going to a laundromat in old Mesa, or using one in an apartment complex, most all the laundromats in Mesa are fairly new.
My brother in law bought some vending machines. They have been in his barn for years. Some people make money in vending machines. I would suggest finding a source for vending machines first and then finding locations before buying. You need a contract that will bring in enough to pay for them before buying....just my opinion.
It's *subsidy,* with a *d.* I'm not so sure about real estate right now. The prices are extremely inflated due to everybody buying it during the pandemic, including people who live far outside the local market who know nothing about fair market rates. Landlords got crushed during the rent moratorium, which prevented evictions for nonpayment of rent for two years. We're overdue for a course correction on real estate. I hope it's not as bad as 2008. The other thing I take from this video is (at least as a starter business model) to invest in businesses with few to no employees.
I like the real estate option. I think you could do a video on deep dive into each business. On the real estate option I would encourage you to include the short term rental like AirBNB or VRBO as well as the long term rental.
Laundry mats own you. Has to be your full time job. Employees kill your profits if you can’t find good employees. Real estate has been the biggest success but who can afford a rental property nowadays? Love the channel.
My spouse and I are diversifying our long-term investment portfolio by adding various stocks and ETFs. We've allocated $220k to begin with, focusing on inflation-indexed bonds and companies with strong cash flows. I think the current market presents a good opportunity for long-term gains, but I'm also interested in learning ways to make short-term profits.
Most times it amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.
@@oscarkelly3378 Anyways not actually, what I know about trading almost borders on zilch lol. I make huge profits on my investment since I started trading with Mrs Debbie Ramirez, her trading strategies are top notch coupled with the little commission she charges on her trade.
I got a friend that has at least 6 streams of income at 37 years old. He’s always busy and has a full time job with those other 5 streams of money coming in. It’s insane how busy he is. Always on the phone talking with someone about some job he’s got his workers on.
Hi, I've been researching laundromats in San Diego . I seriously consider one selling for $199,000. However, it doesn't make any money because of the high rent and utilities. Washer use a lot of water and dryers use a lot of heat. Possible to reduce by buying new washers and dryers but water is very expensive in San Diego and always increasing. When did you buy your laundromats and how did you solve this problem? Thanks Janet
@BritneySink-sx7io My goal is to own 10 BTC before November and follow up with the next halving. I currently owned 2.5 BTC thanks to Emily Cofield for helping me achieve that as I started trading using his method with just 0-4BTC
@RanaeS.Hawkins-gp3ke It’s refreshing to see a lot of positive comments about Emily I recently had the opportunity to use her services and since then,everything has gone very smoothly. it’s amazing how accurate their market analysis is, and how good understanding they are Tiwa beginners she’ll even go to an extent of building up a suitable strategy plan tha fits your investment size.
Your videos are inspiring. I have an Airbnb business which has helped me realize that investing in real estate has great returns if you rent or buy the right property.
Careful in Australia with Airbnb State Governments can change rules overnight so your property only can be used for long term rental and then fix that rental for years. Australia Government hates landlords buyer be aware.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
Want more low risk ideas? Check out another 130+ boring businesses you could buy for high returns here: contrarianthinking.biz/130boringbiz-yt-lg
Really need some help. Tired of struggling. Can you give me any advice on ways to make consistent money!
Hello @CodieSanchezCT, I’m seeking a resource I can compare business revenues to identify which have the highest Operating Income relative to entry cost. I’d pay to know how I can focus my efforts on acquiring those businesses sectors and services. Any help would be appreciated. Thank you!
What did you study in university? I have no idea where to begin.
Since I'm not going to read all 2.6 k comments, I'm thinking the smart thing to do is put my vending machine inside of my laundromat or storage co 🤔 😉
@@itsardenmaried awesome idea!!!
01:20 laundromat
02:41 real estate
04:50 self storage
06:29 transportation
09:53 vending
12:19 senior care centre
Thank you for saving me the time of having to watch this video. These are awful ideas.
Thank you! I appreciate you!
@@user-lr5cx1ni4r she didn't say that you should get into these businesses. She said these are the ones that statically DO NOT FAIL. Why are they bad ideas in your opinion I'm curious???
Thank you for saving me 13mins!!
@@user-lr5cx1ni4r Please enlight me on how is real estate an awful business bruh. Hold, Let me grab my popcorn while your brain blows up trying to think on this one bruh.
I hope this message reaches Codie. Thank you for all of the information you provide for free. 18 months ago I was working a stable medical job (PA-C) making $100,000/year. I discovered your channel and loved what I heard. I decided to pursue buying a small business. I spent the next 6 months learning and finding a small business. I decided to pursue self serve car washes, made a list of local ones, and started cold calling. I found an owner looking to retire and ended up buying his 2 car washes June 2023. Fast forward 1 year, and I have quit my medical job, I own 4 car washes and a car window tinting company and am on pace to make over quadruple my medical salary all while working ~20 hours per week. Thank you Codie for incredible knowledge you bring people every day.
I enjoyed reading your comments. Congratulations well done!🙏🏼🚀
Well done, great achievement..!
How did you finance your first deal? Did you ever work at a car wash previously?
Could you teach me your method what’s your number ?
but now
you have to pay Tax and insurance
by yourself
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
25k a week? Amazing! how did you get started?
I signed up for a 1-on-1 trading session. It's like copy trading, but with personalized guidance.
the session was secure and a supportive way to improve your trading skills while earning, the best part is there's no upfront payment required at all
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
I suggest consulting with Patricia for guidance, This way you can get strategies designed to address your unique long/short-term goals
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
For majority, the solution to their problem can be found in specialized knowledge, so can as well seek guidance from a well experienced advisor.
Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
6 Businesses with low failure:
1. LAUNDROMATS
2. REAL ESTATE
3. SELF STORAGE
4. TRANSPORTATIIN
5. VENDING MACHINES
6. ELDERLY HEALTH CARE CENTERS
*TRANSPORTATION
Thank you. Surprised I had to scroll so far down for this.
Thank you for the summary. Much appreciated.
You forget about cleaning and barbers 2 things the world needs unless you are just a dirty bald bastard .
Would businesses with low failure rate (being low risk) have an inherently low income or profit? Should that be a consideration?
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "DEBORAH SUE BOHN", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@@BenjaminMcLeod815 Hello, who is the lady you just mentioned?
@@BenjaminMcLeod815 i found the lady you just mentioned, she seem pretty proficient
@recemadison Is that the same Deborah Sue Bohn that is in jail for fraud?
I love this video!
1:16 - Laundromats
2:37 - Real Estate
4:43 - Self Storage
6:20 - Trucking (Transportation)
9:52 - Vending
12:05 - Senior Care Centres (Healthcare)
You’re awesome
Danke schön.
All but Trucking as the industry is very misleading. Trucking has a low barrier to entry yet in recent years have a high failure rate. As a matter of fact most lenders have placed new trucking startups in the risky business category and have excluded them from startup funding. You have to buy new vehicles as maintenance can put you out of business before you get started. Staffing is also a huge issue. Keeping staff on long term is almost impossible
@@caseymcnair5845 Is it mainly due to new regulations or something else?
Are other transport service startups still viable?
Thanks for the video! I think the worm business would take one of those top spots :) They sell for a pretty penny per pound, and they make the best fertilizer on the planet AKA Black Gold! I raise millions of worms for fertilizer for my garden and to teach others how to care for them :)
This time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!
I invested in some stocks myself using pure speculation. Long story short, I blew my account and lost it all with one wrong move. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $10k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now with over 81k in roi, I sit back and just reinvest at intervals while I handle my other career and family.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence. It's all gambling
How can I connect with him? I just turned 47 I know it’s late but I want to give it a shot.
Hermanw jonas that’s his gmail okay
@@Donnierra Hermanw jonas that’s his gmail okay
Building wealth involves cultivating good habits, such as consistently setting aside money for solid investments. Rather than attempting to predict market stability and timing changes precisely, a more effective strategy is to maintain a well-prepared portfolio for any eventuality. This approach has enabled some individuals to average $150K every seven weeks over the past four months, according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Sharon Marissa Wolfe
for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
people need to realize that businesses mainly tend to fail due to the businesses not obtaining enough customers. Marketing and sales are very valuable skills to have. I started Amazon a year ago and already crossed 150k\month, what I liked about Amazon that you do not need to bring traffic yourself (Although you could).
I am glad to hear about your success. I started Amazon FBA as well but little struggling, Do you mind to explain how to rank to best seller? And can you share where did you learn? youtube information is very limited
Thanks! You need to seII the the largest qty of units on a daily basis within your sub-category.
correct.
found it! thanks a lot!
Your doing a mistake, the more people who will know about it = the more it will be saturated.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
The stock market rally run is gone, but I'm not
sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.
@@pierrelouis6841the market is profiting if you are using a good broker or account manager to help out with trades or provide signals
Making touch with financial advisors like Kimberly Kent who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Her strategy trade EUR/USD is quite impressive and her currency pairs are 100% beneficial. With her help I've been able to leave my 9-5
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $300K stock portfolio from decline is my main concern, but I don't really know which way to go.
Yeah, things may be hard right now, but I've come to realize both bear and bull market, recessions and economic boom, all provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
I agree. I've been working with a financial advisor since 2020, and I return up to 15k every month, and I don't even have to lift a finger. Although I also think the reason I make this much is because I started with significant capital.
That makes a lot of sense. To be on the safer side and not second guess your market decisions, I’d suggest you reach out to a proper investment adviser for guidance, they’re better equipped at understanding market patterns/movements and adjusting portfolio to match up with these market trends
There are many independent advisors to choose from. But I work with Melissa Elise Robinson and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
At the age of 23 I purchased a residential Assisted Living Facility or “Senior Care Home” with no money down and a $350k loan and sold it for $1.3M. It helped fund our next businesses as well. Thanks for sharing Codie!!! Love your content!! I always get excited when people talk about senior care because it’s not that common amongst the business community.
How did you find the business?
Yes how did you find it for sale ? Invest in real estate but I like higher cash flow businesses.
@@jaysanchez6106 it was in foreclosure and was listed for sale with a commercial real estate broker.
@@justinhenryrebel it was listed for sale with a broker. It had always been licensed as an assisted living facility so we purchased it vacant with the intention to use it as a residential assisted living facility. Now they are popping up all over.
@@KrisChana Thank you for your replies, that was a incredible success.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
The adviser I'm in touch with is 'Catherine Morrison Evans, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
The vending machine industry is very tough, in my experience. I did it for several years. Failure may be low, but it's a long and hard grind. Finding ideal locations can be very difficult, as they are limited, plus it's a highly competitive market. Secondly, if your product is perishable, it's very easy to end up with waste. Sale trends are unpredictable (week to week changes). Maintenance and repairs are also rather costly, due to a lot of moving parts and people abusing your machines.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing
@Patricia Martin I'm sure the idea of a Investment-adviser might sound controversial to a few, but a new study by investopedia found out that demand for Invstment-Managers sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've raised over CAD580k within 18months from an initially stagnant portfolio worth CAD150K which was devoid of dividend stocks. These are the high-volume traders.
@@geraldantonio3160 you're telling me old rich people got scared and wanted a "professional" to help? 😂😂😂
@@geraldantonio3160 ya she paid or her company paid for her to do that to get clients ... Duh
Smart on the dividends. Recent advice I was give was to buy into business over 5 years old
hi I have a got a genuine business to work it, if you are serious enough to know it, let me know we can work and expand together
The vending machine industry is very tough, in my experience. I did it for several years. Failure may be low, but it's a long and hard grind. Finding ideal locations can be very difficult, as they are limited, plus it's a highly competitive market. Secondly, if your product is perishable, it's very easy to end up with waste. Sale trends are unpredictable (week to week changes). Maintenance and repairs are also rather costly, due to a lot of moving parts and people abusing your machines.
Better than a minimum wage job
Once you find an ideal location can't you just stay there? Why move around?
@@LisaMaeFilms In order to make a living, you need numerous machines, so that means numerous locations. Finding them is very hard, and finding profitable locations is even harder. I've had several locations that would sell around 3 items a week, if I was lucky. Not nearly enough to help sustain a business.
@@keithwisdom1663 Fair enough, but I'm fortunate enough to have a skill set that places me above the minimum wage bracket, which is why I checked out of this vending business.
I agree with #1, #2, and #3 as I've personally have invested my hard money into these business. I have to COMPLETELY DISAGREE with #6 regarding senior care or healthcare. We started a residential assisted living home by converting a one-story 5,000 sqft home in a residential home into a senior assisted living facility. This is not a real estate play and is absolutely a heavily labor, staff, and customer intensive business. Unless you've owned, experienced, or invested 1st hand with your own money at risk, I would avoid and run away from this last #6 business. PM and I can tell you the countless horror stories, sad situations, disturbing, etc. Save yourself the time, headache, and money and go with business #1,2, or 3 instead.
thanks for advice mate, best of luck 👍
I work in healthcare, so I highly agree that you should not be the owner, but to sell to a client that will contract the other departments out.
Yes but it’s highly profitable so worth the work
And the government helps you A LOT. It is a highly skilled area though.
I agree with you.
The list:
1) Laundromats
2) Rental property
3) Self storage
4) Last mile delivery
5) Vending
6) Healthcare
Thank you. :)
Literally I've seen every single business on this list fail with some regularity in my community alone. I get it, these are less likely to fail but I think being an internet "financial guru" has the lowest failure rate, "teach" people skills that you don't have without giving the drawback and downside.
Timestamps please!
in her diary of a CEO interview she said a laundromat was a terrible business to buy, so I didn't get how since its her favorite example.
Cremation business should be #1 in this list
The stock market rally run is over but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k
very true! I started investing in 2021 and that same year I pulled a profit of about[$300,000] with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisor, so you don't necessarily need to be a perfect investor, just have a professional assist you.
How can one find a resourceful FA, I buy the idea of employing their services, its a shame market crashes as of late have become a sort of habit for stocks.
My advisor is ’DELLA MORLEY PRATHER’’ In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
I just looked up Natalie on the net and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Having a coach is key in a volatile mar-ket, My advisor is "Eleanor Cecilia Schnell" You can easily look her up, she has years of financial-market experience.
get a financial advisor
Chinese stock
The public storage business model is, by far, the highest-profit versus lowest-risk business discussed in this video. Of over 100 public storage businesses I know of, every single one of them has remained hugely profitable every year, no matter what the economy is doing, and no matter where they are located (even in very rural communities). Oddly, they seem to do slightly better when the economy is actually doing worse. What's more, there is far less risk or maintenance involved, as you don't have to worry about things like broken plumbing (like you do with homes), or other costly issues, and as long as you have all the proper legal and insurance protections in place, you'll never be at risk of legal issues, provided you aren't some type of criminal.
Seriously, if someone gave me $10 million today, I'd invest all of it in a storage unit business, and then spend a lot of time picking out a good married couple to manage it for me, and even do a profit-share program with them, so they had a vested interest in the business's success. Within 6-8 years (most likely), I should have recouped my money, and from that point on, I should be clearling high-six or low-seven figures per year.
Sadly, other investors have known about this for over a decade, and have started to buy up all the storage unit businesses in several parts of the United States.
I like the ideas about laundromat and self storage. Long haul trucking however is getting killed by brokers (taking 20-50% of the profits from truckers) for basically doing nothing. Plus with fuel costs and mechanical breakdown, pretty much only large Corporate players are surviving this market.
Insurance and maintenance costs have gone through the roof too. Too many trucks for so little freight. Even the bigger carriers are feeling the heat too
and not to mention state licensing, registration and IFTA fees
How do we get around the brokers. I'd have to agree trucking sucks right now
A WEALTH TAX would do some justice…. Just saying! Some people have never had any wealth due to this capitalist system, even the ones who worked for it for many years!
Stacking the odds in your favour definitely makes sense. I would add that you need to have the right mindset , be consistent and be at the right place at the right time. I have made some big mistakes that took years to get out from under...going all in to Real Estate just before a recession, putting life savings into the stock market just before the biggest downturn since the Great Depression...etc. This video gives me inspiration again. Simple is good. Low risk is good .Yes. The biggest challenge has been getting past my learned cynicism. Thank you.
Never put all your eggs in one basket
Jeez man that sounds tough hopefully you learned some great lessons that will propel you in your future success. low risk, diversification etc
Omgoodness you sound just like me once worth 400,000.00 to 5,000.00. Had 4 houses 2 paid off then I crushed my back in bed for 3 years and.... I was 48 years old now 65, I'm alive and well which I know is the greatest blessing in life but.... my social security is 600.00 a month so what would you suggest? Thank you, hope all your dreams are coming true! Teresa Griffin
Yes people don’t highlight mistakes. Yes, real estate has been good for many years, but it hasn’t always been. You really have to do your homework before buying
Every successful entrepreneur has experience failures and setbacks. The difference is they do not give up.
The financial market is one of the most powerful wealth creation tools that we can use to become extremely wealthy. If you save money, your bank account will grow by a certain amount of money each year. If, on the other hand, you invest your money, your portfolio will grow by a certain PERCENTAGE each year. The distinction between these two concepts is enormous. My net worth has grown by $800,000 since the fourth quarter of 2019.
There are numerous misconceptions about investing in the market, which is why so many people fail to capitalize on it. However, given the current CPI figures, it is not advisable to have money sitting around with no or little profit. I have $60,000 to invest, but it's difficult for me to bite the bullet and do it. What happens if I lose everything?
You need a Financial Advisor, my friend, to avoid being taken advantage of. They offer personalized advice to individuals based on their risk tolerance, putting them among the best of the best.. Some have a terrible reputation, others with a strong track record can be quite good
I completely agree with you; they can have a positive impact on an individual's portfolio. I began with “CHRISTINE ANN PODGORNY” a trust Financial Advisor. She is verifiable, and her work ethic is in accordance with the 1940 US Investment Act. Her approach is transparent, low fees, and gives me complete ownership and control over my portfolio.
I've been wanting to start investing for a few months but haven't had the courage to do so because the market has been down for the majority of this year. Please tell me how I can rely on such abilities.
She is popular. Therefore, finding her official-website should be easy. Just search for her complete name online.
Top (low failure rate) businesses
Vending Machine
Real Estate
Healthcare
Transportation
Agriculture
Dump Truck
@Philip Max Good choice you have made, its also impressive it has worked out the way you planned however not everybody knows their way around the stock market, I did some trading my self last month I lost some cash lol, do you trade yourself? are you a Professional ?
Suresh ji apka kya business hai
A lot of laundromats start to fail in Belgium as the electricitybill rises month by month. And it's impossible to ask 10 dollars for a wash for example. Talked to an owner who said It is cheaper to close than to keep it running. I think every type of business has their time of hardship.
Interesting! Really appreciate your insight from so where do far.....I'm in the U.S.......hopefully you continue to be safe and have a prosperous life 🙏🏾
Ofc yall want "clean energy" and decided to buy US war against RU and now are going to literally cripple and die during winter for lack of gas and energy.
How about solar powered laundromats to cut the electric bill? There are non existent in my country but if I had to open one I'd take the solar route.
@@Bilbyflix Those are big investments and the ROI is not that big then i guess. And also mostly not an option as you may not own the building for example.
@@Bilbyflix The electricity required to run a solar-powered laundromat would require way too many panels and batteries to make this cost effective. Dept of Energy has looked at all kinds of energy-efficient models, but there aren't really good options other than electricity or natural gas-powered dryers right now. However, if you are a clever mechanic, develop something and help us all, please!!
Here's a relatively cheap one for you - A lawn mowing business. Seriously. You need a lawn mower and a vehicle to transport it. As you get more customers, you can expand with cash you earn from the business. If you don't get more customers, your losses are the cost of a lawn mower and a truck. And if you are one of the millions of Americans who already own a truck and mow their own lawn, your costs are virtually nothing. Oh, and you can write off both on your taxes as a business expense. Your only other upfront cost would be fuel, but that would only be needed if and when you had a customer.
Depending on where you live, you could probably get away with charging $50 for a standard middle class sized yard. Add a few services that don't require a lot of equipment, like raking yards, picking up and hauling away branches (in demand after heavy storms), driveway cleaning, etc.. and you could have yourself a nice little profitable business very quickly.
My father n law has had his lawn care business for 20 years now. Starting off making $20-$30k to now making $150k
Im an engineer and researched a lot about what side businesses to get into that has little oversight and came across owning a route delivery business. Now I own a Pepperidge Farm Route and service 7 large retail locations and 4 cash stops and have a full time driver driving the route and servicing these stores for me 4 days out of the week. We work out of a shared depot with other distributors and we get snack and bread deliveries there that we stage in our own section and load our trucks with and go out and do deliveries. Now I only sit at home and place 2 orders online weekly while my driver takes care of the rest for 10% of the weekly sale as pay. Its amazing! And so much potential to grow with more locations and also buying other routes. One guy in our depot owns 4 routes. I look forward to the day I own multiple routes.
Can we Discuss This Business in detail? I need to know about this.
@@ambitious6396 Sure, theres all kinds of route businesses for sale such as ATMs, FedEx, Bimbo, PF etc. You are buying a territory that only you have exclusive rights to sell to retailers so all the Walmarts, Meijers, Krogers in your territory can only buy from you and no one else. You are paid a comission from the weekly sales you do to the stores.
Hmmm. If you are paying your driver 10% of weekly sales, just wondering how much commission your biz is getting from the producer? The commission must be very lucrative and good.
@@oldbanker Depends on the company. PF pays out 23% for bread and 20% for snacks. Most distributors are owner operators but I dont want to stop at 1 route Id like to expand to multiple routes with multiple drivers running it so Im okay making less since its not my main source of income.
*VERMONTCORPLTD* is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
Hello Codie, my husband and I just got approved for $98,000 in small business grant program. We own a clothing brand that we have intended to invest this money on, but I will appreciate if you have other business suggestions because this is a one-time life opportunity, and we want to make best use of it. Appreciate your reply🙏🏽. I subscribed ❤
Am afraid she might not see your comment as the video is 9 months old try commenting on recent videos and good luck with you business
Hello how do you get the grant please?
Congratulations madam
I hope she get to she this
🎉🎉🎉
Congratulations 🤑
Making money should be a routine A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
As with any big financial decision, it’s important to keep your guard’s up for economic risks. However, smart planning, time management and seeking advise from a financial adviser can help keep you and your money safe.
@@MatthewVinson She’s a verified CFP and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
The first step is to not tell people on the internet the amount of money you have in savings while using your full name and a pic of you. I would delete this message or edit it to not say the amount of money you have.
Hi there, We are a content creation agency. We create a high-quality posts like @Wealth, @eCommerceexecutive quality infographics, business motivation, Story quotes, tip of the day Stories, etc.
We can work with you to create high-quality posts for you at a very cheap price.
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Thanks
Silver/Gold
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I'll suggest you find a mentor or someone with experience to guide you especially in this recession..
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
@@PhilipMurray251 I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
@@driftgod7894 Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like " Donna Di Lanni , who can help shape up your portfolio.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
1. Laundromat
2. Rental properties
3. Self-storage
4. Trucking
5. Vending machines
6. Healthcare
About 20 years ago my husband and I researched campgrounds and RV parks. We read that the ROI on them was very quick. I'd love to hear what you find out about them as a business model.
Did you get one ? Thanks for sharing this./ I suppose low cost, electricity and portapotty, bathrooms, low expenses.
@Jody Hakala-Ristow We didn't get one. It was over 20 years ago and was mostly RV parks that we looked at. Now that Hip Camp is a thing, we are revisiting the idea. Should have got in sooner before Missouri land prices have skyrocketed because of so many people moving here to homestead.
But how do you get customers?
Mostly word of mouth is what always worked best for me
That depends on the business you're in
Not really it's more the strategy your using to get customers
But sometimes the nature of your business will play a role
Social media marketing
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Doing what? Stocks? Which ones are you investing in? I would really love to be making 30,000+ a week
I WILL! Thanks, and you too.
What's up with this comment? I saw exactly same comment in different videos from different people.
This goes to show the prominence of financial assistance. Glad to have found your channel
Right! mostly because professionals manage most of these tactics and loopholes better. I was able to scale from $35K to 65K this crash by following my coach's advice
@Bianca Rantzsch | Your Way of Life: Individuals constantly fight with the obvious temptation to want to do tasks on their own while overlooking the existence of a process. Direction and fundamental data cannot be overlooked, which is why you risk getting buried in the market noise (consolidation) or ignoring some critical factors that have an impact on the performance of any asset. Stocks generally follow the fundamentals, and markets are more complex than merely technical analysis.
@@tommyfisher277 PLS WHO COACH IS? INSHA ALLAH
@@alyoshaivanovv This is the major problem with newbies or people who's hand luck trading.
@@aliyunko9689 It's best to keep an eye out locally but currently under Yvonne Annette Lively's management.
Hey Cody, thanks for the video I’m new to you. I’m selling my sass company and hopping on Flippa to see what they are up to. 🙂 I’m 62, built 7 businesses and love that you are leading the next generation of entrepreneurs. You are an inspiration!
Wow , You are also inspiration to us. It will be my pleasure if we get connected on any social media platform to know more about your successful journey. Thanks
@@raselsheikh5017 ^ that isn't the real codie asking you to join them on whats app they stole her photo
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants.
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
Hi Codie, just wanted to drop you a note that the website that you mentioned around 1:44 of the video as "The Chamber of Commerce" is actually a for profit affiliate website, not the official website of the US Chamber of Commerce government entity. They didn't do a study in conjunction with Speed Queen, they are simply referencing a study that Speed Queen did on their own, which again should be taken with a large grain of salt considering they are a private laundromat franchising business.
I have saved up quite a reasonable amount and I am equally confused on the where and how to invest it. Currently stuck between four options Laundromat, stocks, Senior care centers and Real Estates. Can't seem to find the most appropriate one as I also battle with time constraints and sustainability.
Why not at least two/three of them? Given the present economy, you should never forget to diversify. Do not put all your eggs in one basket. As one who has been into Real Estates for as long as I can remember, I made my first million earlier this year from stocks alone (through the help of a pro though because I also don't have a lot of spare time). I also experiment with a couple of other things. Hard to imagine that I had initially refused to try out new possibilities. Good luck.
narrow it down to stocks and senior care centers. housing is a no go zone right now
@@dannywalters958 Very sound and pragmatic. I have been into both stocks and housing for sometime now and though I won't say I have lost a fortune, I have squandered quite a lot. If it's not a problem, do you mind recommending the pro. you worked with? I could definitely use the help of one right now... I look forward to your reply...
@@Mrcarlson_E Funny enough, I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to go into details here, but her name is "Leah Marie Sandock". Was in the news a lot in 2018. You may look her up for more.
@@dannywalters958 wow I know this little lady. Once attended a fundraiser she was also in attendance in Vancouver,, Great speaker with a funny accent,, She's American though, I doubt she works with foreigners,,,
I'm a truck driver and have heavily researched the topic of running a small business. It is a tough time to start and you've really gotta know how to manage risk. If you rely on one truck for all your business and that truck goes down, you not only gave to pay to get it fixed but also you lose out on the money you could be working. A bad enough breakdown will bankrupt you if you're not prepared.
Wouldn't insurance cover it?
@@bendover-bz4bc maybe insurance but most trucking insurance doesnt to cover this, if you get a warranty on your truck purchase you might get lucky with that and not tank your business
opportunity cost. This is true for every business
I’ve seen a lot of tough guys crying for real in the Trucking Business.
It’s really hard but once you get things in control you can make a descent living 6 figure plus.
I just became aware of your channel and I am LOOOOOVING IT! I started with the Lone Star guy (phenomenal video BTW) and obviously watched this one. What makes it great? YOU!!! I cant wait to watch more!
Nice video. But let me talk about something major, I see both young and old making mistakes they shouldn't be making, I think everyone,both young and old, should have an investment plan that increases their financial return by three to six figures, the investment can be your retirement plan or your investment plan, whichever you want, but what matters most is that you have a profitable investment
I have tried investing in Forex, cryptocurrency and stock market and keep losing, please do you have any advice or help for me
@@mariocastaneda1442 Investing in Forex or the cryptocurrency market needs a professional to guide you to avoid losses because the signals are not exactly easy to read, that's why you have to invest with an expert for a better profit.
@@okekeuche7176 Which expert do you recommend and how do I contact him
@@mariocastaneda1442 Angelina Morris is the best expert I can recommend, I have made a good profit investing with her and I'm still in business with her.
@@mariocastaneda1442 You can write her on
There is something to be said about a self storage with a manager on-site. It definitely gave me peace of mind that issues could be addressed quickly, if/when they pop up. Luckily, they never did when I had a unit, but I would pay a reasonable amount more for that personal service.
@HareKrishna777 dang! Nice
Or they could work pt remotely and show up if it's an emergency....maybe?
1. Laundry Mat
2. Real Estate - Rental - 2:43
3. Self Storage - 4:48
4. Transportation / trucking - 6:21
5. Vending machines - 9:49
6. Healthcare - 12:05
I am glad I made productive decisions about
my finances that changed my life forever. I am living in Vancouver Canada, bought
my second house in September and hoping to retire next year at 50 if things keep going smoothly for me
@@ariaibrahim1291 Yes it sure is. I put in money in investments and get profits. That 's how I make more money without working. This does not sound new to you right ?
@ibrahimfaizan6047 There are lots of investments options such as real estate, stock market, forex, cr ypt os, passive income,
@@chrisjohn7823 Yes I recommend the service of Mrs Caroline Renee Steiger she is a great financial consultant and has made a great impact on my financial journey.
@@cryptocasey1083 OK thanks
@@lilianazuluaga6504 yeah she does, she's an
exceptional and lucrative broker at same time. I just bought my dream Mercedes from last weeks profit. All thanks to her expertise.
There are a lot of strategies to make tongue-wetting profit that the average joes don't know. . Personally, the financial-market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
If you’ve got patience I believe it’s a great time to invest… I’m no expert but as Warren buffet said he’s seen this happen a number of times throughout his life
I've known I had wanted to start investing for a few months but just haven't been brave enough to start due to the market so far this year. I have $60k I want to transfer into an S&S ISA but it's hard to bite the bullet and do it. $457 is a huge milestone, Please what's your strategy? I will love to have an insight
I began with a fiduciary portfolio advisor by the name *PRISCILLA DIANE AIVAZIAN* . She’s verifiable and her works ethics is in accordance with the US investment act of 1940. Her approach is transparent allowing total ownership and control over my portfolio with fees very reasonable in comparison with my investment-income. Also, She covers things like investment insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that.
Word of the day: fiduciary. do not talk to anyone who is not a fiduciary to you, who explains everything.
*PRISCILLA DIANE AIVAZIAN* really seems to know her stuff. I looked her up on the web using her full name and found her page, read through her resume, educational background, and qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I'll book a session with her
Hi Codie; I have to humbly admit I’ve just discovered you and your chan after I’ve seen your interview on “The diary of a CEO” so I’ve subscribed here and this was the 1st video I’ve watched. Spot on inspirational, but even more so, I found it as exactly the kind of encouragement one needs to get when in the mindset of getting rid out those golden handcuffs you were talking about wearing yourself at some point. The thing is, personally I am very lucky to very much enjoy my job & work, but I am still on track to keep my promise I made myself when letting go of my full time business in my 20s to go get employed and, as I said back then, “learn on OPM for a while” before I come back to doing my own thing. Again, thank you, you are a true inspiration! One!
What's a OPM?
I love this Codie. Another option to consider is a simple parking lot litter cleanup business. People litter. They always have and always will. Fortunes are being made by people willing to clean up after others. I started this business in 1981 as a side hustle and grew it into a six-figure business of 40+ years. I started with little money, skills and education. It's almost as easy as a walk in the park! The service is performed on-foot using simple hand tools. You contract with property management companies (and others) to maintain their commercial properties litter free. You can't fail so long as you're passionate, patient and persistent.
I’m trying to find things for my teenage son to start doing. This sounds legit so I’m gonna bring it up to him. :) How many times a week do you visit the properties? Any tips? What’s the name of your business?
I recommend service 3-7 days a week depending on the size and tenant mix of each property. The focus here is to maintain these properties litter free rather than cleaning up a build-up of litter debris. I offer tips and free support in my book Cleanlots - America's Simplest Business@@I.am.emmyxo
This is such a good idea! I will probably take this and implement it. There’s about 3-4 teenage boys I could pay hourly for the work.
@@ninagrace-lee8323 Make sure you can trust them to be reliable and show up to do the work.
Any other ones other than
Laundromat
Real-estate
Self storage
Transportation
Vending machines
Senior care centers - sounds expensive
?
Mobile detailing services
Stick to commercial real-estate. Renters pay for everything, plus if they don't pay it's easy to kick them out.
This video is incredibly valuable for anyone considering starting a business or looking to diversify their portfolio. The key takeaway here is crucial: Before diving into a new venture, potential entrepreneurs should evaluate which of the discussed businesses align most closely with their personal skills, talents, and experiences. Choosing a business that complements your strengths increases your chances of success.
For those thinking about diversification, it's not just about aligning with your abilities but also about whether you can assemble the right team to support this expansion. Building a strong team is essential to manage and grow the new business effectively.
By following this approach, you're more likely to avoid the high failure rates Codie mentioned in the video. Thanks, Codie, for another insightful video!
I am an investor, broker, and owner of Commercial Real Estate. People always ask me how do I get into what I do. This video is definitely one I will start sharing. It's a great exposition and it's brief where people can definitely engage. Good work.
hi I have a got a genuine business to work it, if you are serious enough to know it, let me know we can work and expand together
Codie's channel is so good. My wife got me hooked.
I would love to start a business that sells retired laundry from storage facilities through a vending machines located in a retirement community building that I collect rents from.
Too funny!
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
" It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid , instead of trying to be very intelligent."
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Trading under the guidance of an expert is the best strategy for beginners.
I really appreciated all the stories of different business experience. So I want to share my experience right now in business #4 Transportation. I'm a CDL A Commercial Truck Driver. I own my truck in 2020 at a good price with 2 years if driver experience. I buy a job, consoius of that trying to escalate at some point. But an upgrade from employee to owner operator. 1st year was great, second was declining and 3rd year I ended up selling truck with a bunch of debts in my back of high cost repairs. I do savings of 10% at the beginning to 50% at some point. But when this trucks break down repairs are thousands, tow can be $600. I got one repair of clutch $10,000 and I fix one thing couple weeks another $7,000 etc So the savings blow out, no profits, no income when truck have several weeks in the shop. I do long haul, prices per miles still dropping, diesel price up high. So I share all with you so is my personal experience. I'm here because need to continue learning and I don't give up!! Looking for next business opportunities 🙏
Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..
The first step to wealth creation, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m glad I was able to hire a financial advisor John Desmond Heppolette, earlier this year while others were complaining about the downturn in the financial market, I was busy cashing out from my investment, eventually making over seven figures in the first quarter alone…
That's great, your financial advisor must be really good, I have seen testimonies of people using the help of financial advisors in making them more financially stable. I just discovered his exceptional resume when I made a Googled search of his names. I consider it a blessing that I discover this comment area!
I’m impressed by John Desmond Heppolette, professionalism and expertise in financial planning. He took the time to understand my financial goals and provided personalized recommendations that have proven to be successful, with this guide I make monthly returns from investing in assets and mutual funds..
It amazes me greatly how I go from living an average lifestyle to making over £63k monthly, utter shock is the word. I've learned a lot in the past few years to doubt that there are plenty of opportunities abound in the financial markets; the only thing is know where to focus.. Thanks to John Desmond Heppolette.
My favorite is the senior care. I’m currently working on opening locations in Austin. It’s a lot of red tape and marketing that goes into it but it’s worth it if you have the right partner or funding
Austin Texas? good lord I hope you got lots of reserve capital there... youre going to need to hire a good legal firm and keep them on retainer. the real-estate is too high. perhaps more south like Kyle or towards Lockhart maybe even out towards Dripping Springs? that way family is within driving distance maybe?
@@renaissanceman5847 that’s a really good idea
What is the startup cost?
Disgusting that people want to earn money on other peoples basic needs.
@@andersnielsen6044people earn money on food pretty basic need.
The trick having right information and knowledge about what you intend to do, it helps very much that the physical cash , any business will always be victorious but mind set and grit so common to success.
Sometimes business is good,sometimes is not good but one have to keep doing what is best to get more income,without doing anything you can get profit so keep doing your business.
All business fail, it depends on the management that determine how long it's take
@@bernarddonald8203having a business is like taking a risk for surviving, if you succeed it's your luck.
Laundry business is a good business to get started too it's really a good business.
Without money you can't get into real estate, it more expensive than laundry, laundry is cheaper then real estate.
I love to get into real estate but I don't have the income to get started
These businesses have a high barrier to entry - cost. I’d love to see a video of similar businesses with smaller monetary entry points.
here are 4: Hot Dog cart -- Home/Commercial Cleaning Business - Lawn Care/Landscaping--- Pool Cleaning Service All 4 can be started for about 3-4k-
@@oceanbreeze7777 I appreciate the follow up. I definitely have that amount of cash. Thanks!
@Jonathan Sexton Oh right. Whaaaat? I have no idea what you mean, that stuff would make me flip my lid. The guy is simply making an observation. Realistically most people will not be able to start these, not to say that was this video's intention.
This video was SOOOO AMAZING! I paused the video with 10 seconds left just to make sure I subscribed!!
Is it possible that I can run a business from Bangladesh to USA?
My question for you, when you buy a business like a carwash or laundromat that is not close enough to drive to often and check on yourself, who do you get to empty your cash out of the machines? Is there a company you hire to do this for you? Or do you hire someone to manage it and hope that they don’t pocket cash while emptying the machines?
This content is sick AF! Literal goldmine of info ... of the YT gurus, w/out a doubt, Codie is my ATF. 💯
I started website creation and I love to help business owners to create a website at low price as they want .
I had a successful flower shop for over 6 years , I sold in 2010 cause things started going south , I owned the property. The sale was horrible, but glad I did it , put 2 kids thru college with it , employed by others after , for 12 years now and hate it sooooomuch and not doing well mentally . ..that’s the hard part , working for others after being self employed
Probably one of THE BEST business summary videos I've came across. Over the last few years I've looked at and considered pretty much everything on this list. Bravo!
Time for us to stop considering and start doing! This is the year
Laundry mat 98%, rental property 85%, self storage 90%, last mile delivery 76%
Awesome. Just closed on my first business acquisition. Construction cleaning… with a niche.
I'm a Small business owner surviving the ups and downs. Love your content because it helps me think of my business vs working in my business. Keep up the amazing channel! 💪🏼
Thank you for posting very informative information curious what part of California you see real estate down 20 to 30%? Only down maybe 5% where I live
Speaking of messy toilets lol!..the average age of a plumber in my state is 55 years old!..I’ve been one for 27 years myself and it’s absolutely mad!..no one’s hardly getting in to the trade and I don’t know if it’s fail proof but damn I’m thankful for my business in this current climate of “gloom and doom”. I honestly don’t know other than my passing what would slow me down.
Great content. I loved this topic because you did the work for us that are looking into starting a business. Maybe you should do a video on the worst businesses according to the data, to show a contrast.
*If you are facing digital marketing problem just search “afsarali_100”
You can make almost any business work and be very profitable. There only a few things you need to do. 1. Do what you say you are going to do. 2. Do it well not just good 3. Complete the job, task, product on time. Market all the time never stop talking your business up. The old adage is 1 unhappy customer will cost you 100 customers but in reality sure they will blast you but 1 very happy customer will net you hundreds over years if you keep in touch with them.
First video I've seen of yours. I own and run a retail store 5 years out now. And also farm, and wholesale too. I'm looking at laundry mat, storage that have been on my mind for a few years. Glad to see it hit your list for what that's worth.
How did u get a loan to start your first business?
@@suzysurgent62 The non-glamorous answer: I had about 10 years of savings as we were charting our moves. Also Codie has videos on SBA which could be helpful if that's what your looking to do. Things have changed in the last 5 years of commerce as is such with life. If your looking for some feedback drop your email here and I can reach out. Plenty of experts here on UA-cam to get you educated and thinking that's for sure.
Nice video... some of these business surprised me. However, when I think about it the businesses that do best are main staple industries. Things we need regardless of the economy. Laundry Mat will always be a need as far as I can see.
I love the structure of this interview - and the energy + takeaways. Well done ♥️.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless.
Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)
Please do you mind referring me to your financial analyst?
The advantage of real estate is depreciation. You get just as much of a bang for your buck and tax write-offs as you get in income. The problem with real estate is that only one bad tenant can ruin you. Assuming every tenant will be a good tenant is a fallacy.
Yes. This is great content. Boring businesses collect boring cash. Love it!!
I luv me some boring cash 🤓👍🏽👍🏽
This gives hope to aspiring entrepreneurs! Starting with a solid plan in these sectors feels like a smart move❤
@Codie you are the best. Can we have a list of 6 businesses that don't fail with an investment under 10k?
Codie your content is excellent you always nail it. Instinctually I followed your advice since I've quit college at 20 years old. Owning three of the six businesses you mentioned. You encompass the Buffett investment model in your philosophy by looking for strong cash-flowing businesses that have a high predictability of future cash flows and a low probability of decline
Laundromats and self-storage locations are an already saturated market along with vending machines that are not only saturated but also in some markets run by people that don't like competition. As far as buying an over-the-road truck, being an owner-operator is almost impossible these days. The good-paying loads that used to make being an owner-operator very profitable are few and far between these days, and in Arizona, they are using driverless technology for over-the-road trucks between Phoenix & Tucson. There is still some room in assisted living but getting approved and licensed is only slightly easier than building a nuclear reactor.
Giiiiiiirl! You are a pessimist. I live in Mesa, AZ where there’s a laundromat every few miles and let me tell you, I will drive an extra 10 minutes to go to the cleaner and slightly more expensive laundromat because it has TV’s and a bathroom. My bf’s uncle owns a storage unit in a very saturated area in CA and he does zero, zilch, nada, and makes more in 1 year than I do in 5 years at a regular JOB. I don’t know about the automated transportation you speak of but I hustle deliveries in my spare time and make $200 a month working just a few hours so there’s opportunity. I see opportunity everywhere.
@@danajohnson6273 What does you driving a few extra miles to find a clean laundromat have to do with anything I said?
She’s saying that because you stated the laundromat market is oversaturated. Quality and Quantity. Although it may or may not be oversaturated. How many of them of are good quality? She’s driving the extra miles to go to a better laundromat… so basically you could still open a laundromat in the area that’s newer, cleaner, and maybe better prices
@@0Sheen11sheen Unless you are going to a laundromat in old Mesa, or using one in an apartment complex, most all the laundromats in Mesa are fairly new.
@@danajohnson6273 Probably all the same owner
I would love to see the breakdown of the thought process for how these businesses work. That would be really helpful.
My brother in law bought some vending machines. They have been in his barn for years.
Some people make money in vending machines. I would suggest finding a source for vending machines first and then finding locations before buying. You need a contract that will bring in enough to pay for them before buying....just my opinion.
It's *subsidy,* with a *d.*
I'm not so sure about real estate right now. The prices are extremely inflated due to everybody buying it during the pandemic, including people who live far outside the local market who know nothing about fair market rates. Landlords got crushed during the rent moratorium, which prevented evictions for nonpayment of rent for two years. We're overdue for a course correction on real estate. I hope it's not as bad as 2008.
The other thing I take from this video is (at least as a starter business model) to invest in businesses with few to no employees.
You always buy for cash flow in the first place. Otherwise, just buy stocks.
the spelling errors in this video triggered me hard
I like the real estate option. I think you could do a video on deep dive into each business. On the real estate option I would encourage you to include the short term rental like AirBNB or VRBO as well as the long term rental.
yes same here , started doing so in dubai because there is no income tax and its a growing city
The problem with real estate is its very expensive for the amount of profit you recieve after expenses.
@@PremiumFuelOnly try Dubai. no income tax and high ROI
Laundry mats own you. Has to be your full time job. Employees kill your profits if you can’t find good employees. Real estate has been the biggest success but who can afford a rental property nowadays? Love the channel.
My spouse and I are diversifying our long-term investment portfolio by adding various stocks and ETFs. We've allocated $220k to begin with, focusing on inflation-indexed bonds and companies with strong cash flows. I think the current market presents a good opportunity for long-term gains, but I'm also interested in learning ways to make short-term profits.
@@hunter-bourke21 My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Most times it amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.
Wow buddy, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.
@@oscarkelly3378 Anyways not actually, what I know about trading almost borders on zilch lol. I make huge profits on my investment since I started trading with Mrs Debbie Ramirez, her trading strategies are top notch coupled with the little commission she charges on her trade.
@@williamadams2361 Pardon please.
@@williamadams2361 That's a real success story in my opinion, please are you giving her your money or your coin?
@@philimonleo6195 My coin stays right in my trading account, my account just mirrors her trades in real-time that's the idea behind copy trading.
I got a friend that has at least 6 streams of income at 37 years old. He’s always busy and has a full time job with those other 5 streams of money coming in. It’s insane how busy he is. Always on the phone talking with someone about some job he’s got his workers on.
Hi, I've been researching laundromats in San Diego . I seriously consider one selling for $199,000. However, it doesn't make any money because of the high rent and utilities. Washer use a lot of water and dryers use a lot of heat. Possible to reduce by buying new washers and dryers but water is very expensive in San Diego and always increasing. When did you buy your laundromats and how did you solve this problem?
Thanks
Janet
Thanks bud for keeping us financially Educated! Regardless of how bad it gets on the economy I still make over $28K every single week
@BritneySink-sx7io I’m surprised you know her too I’ve been making alot of profit investing with her for few months now
@BritneySink-sx7io My goal is to own 10 BTC before November and follow up with the next halving. I currently owned 2.5 BTC thanks to Emily Cofield for helping me achieve that as I started trading using his method with just 0-4BTC
@RanaeS.Hawkins-gp3ke It’s refreshing to see a lot of positive comments about Emily I recently had the opportunity to use her services and since then,everything has gone very smoothly. it’s amazing how accurate their market analysis is, and how good understanding they are Tiwa beginners she’ll even go to an extent of building up a suitable strategy plan tha fits your investment size.
@Danielhyer-pk4gp Her trading income stream is mind blowing i also trade with her I've made $36.000 so for trading with her guidance/advice
@@doriradden483 For sure I gained more knowledge and a better understanding of trading with her strategy 2-05 BTC And I'm still expecting much more
this is the energy i want to watch when someone is presenting! good job
As a data scientist, you had me at "backed by data" 😆
Your videos are inspiring. I have an Airbnb business which has helped me realize that investing in real estate has great returns if you rent or buy the right property.
Careful in Australia with Airbnb State Governments can change rules overnight so your property only can be used for long term rental and then fix that rental for years. Australia Government hates landlords buyer be aware.
Your ideas are actually good, subscribed!