convention centers open 24/7 space studio- 50,000 funding from the european space agency i dont know what nasa is proposing but they should at least match it tiny sats and other satelite companies on display is part of that criteria space hotel concepts have billions attatched to the and could be a showroom aswel as space food vendors its brilliant disaster i need a global innovation platform tour guides rob downy jrs footprint coalition - hes got a website plant meat ??? vertical farming thiers new sea farming methods robots need an intervention so robot vendors robo chefs coffeee bots being designed etc the maker space is the most recent community platform and is kinda building these robots with a computer building station and craft lounge knitting these platforms become much more elaborate and have room for expansion and will take off on thier own and evolve into solution powerhouses recycling processes = boring until we look at spanish rivers over flowing with trash bags nasa wanna set fire to but i reckon we can design robots to fly through this aswel as oceanic robots thiers an islands full of plastic at sea the size of france with sea life getting tangled in it and i reckon i can storm through this parcel drone prototypes becuase none of them work yet passenger drones and traffic is another system thats gonna take years to figure out and probably needs a sector a sci fi med sector too were able to grow human hearts but the funding is small and we can amplify this super food recipes and vendors also superfood space food recipes so i just wanna unpack a a bunch of projects and project sectors which should point everyone and a.i in the right directions earth homes ??? i dunno but i think we could find out and house the entire world once and for all
I operate four restaurants in my town. I use the KISS method. My first one cost me $50k to open. I bought used equipment. Went in a location that was previously a restaurant. Btw doing this I saved on build out… like the hood system… grease trap… fire suppression system etc. been in business since 2014. My profits average 28%. I focus on a few dishes and make sure they are perfect and fresh ingredients.
thats awsome and thats exactly how I plan on opening my first place hopefully in the near future. I see alot of people discouraging restaurants and while the stats are true most fail. But if you take a look around most restaurants are honestly bad and aren't run properly
Finally, someone who has the balls to call out Amazon FBA as an unprofitable gig for most entrepreneur. Here's my story. I spent $5000 on Amazon FBA and lost. If I had bought $AMZ stock instead, I would have 4x my money without lifing a finger.
I did it and I was pretty profitable. It was my first business and all of the things that codie said I have experiencedor at least heard of them. However, I've learned a lot about all the adminstration work, since I did them by myself, which I consider a huge benefit. Especially when you learn that tax consultants are hard to hold accountable for bad consultancy or mistakes they did, it is good build up some knowledge in that space. However, regarding profitability, I was going by a Udemy course and the recommendations in the course - going by numbers, choose products that are cheap in shipping and in a certain price range, look for products with bad review and make it better. In the end I choosed to close the business, because I want to leverage my skills, since I'm a software engineer. Also the fba business felt pretty boring and annoying.
It’s funny how many salty amazon sellers get when someone that actually has a background in running multiple businesses tells them that. I do eBay but I have a service based business and the amount of obnoxious amazon sellers I come across on instagram is hilarious, a lot of them have self Inflated egos when it’s like bro you’re piggy backing off someone else’s brand. Most amazon sellers wouldn’t know how to start their own business let alone run one if amazon shut them down.
Would love a part two, but would also love a sort of middle-ground type list, so not bad businesses to invest in or a top 5 good list but a 5 middle ground businesses to consider with pros and cons on both sides. :)
So many social media gurus still grifting their ATM and Amazon FBA business advice, quite glad we're spreading the truth about these "get rich" businesses
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. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
@@bernarddonald8203I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.
@@rahmatumustaph1609 Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton
I started a Drafting/Auto CAD business in the power industry (T&D/Substation design) 2 year ago and had a hard time getting clients. I started going to trade shows and vendor events which got me calls and even some pro bono work to demonstrate value and landed my 1st project and sent my 1st big (full month) invoice and it got paid today!!! I really enjoy the content! Keeps me motivated because man its easy to just give up!
Codie! Part 2 please! Several of these businesses I have also looked at and they never seemed all that worth while. Really enjoyed hearing an experts honest reasoning on why. Service businesses with low entry costs seem like a good place to start.
I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green.
As with an my 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
@@hermanramos7092 yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my mentor, ‘’’Catherine Morrison Evans'' she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
@@martingiavarini Sure, the Investment advisor that guides me is '''Catherine Morrison Evans'' and she's renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.
@@hermanramos7092 Catherine really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
My friends and co workers always say real estate is the worst but personally real estate isn't all terrible honestly, but it's not as profitable as stock investments! Many seasoned investors understand that an investor must be both a dividend and a growth investor. For instance, if I managed to make a 1000% gain on Tesla and then pulled 85% of the profit out and decided to invest it in a lot of more stable dividend stocks like CVX, I would say diversify, but also use those growth opportunities to build capital to invest in dividend payers (or in cash flowing real estate). This is how I made my first million, and I also use an FA, his name is James Fletcher Brennan. Best wishes!
Impressive!! Also, I did read about James Fletcher Brennan on the web, I was able to find his webpage and leave a mail. I'm willing to make consultations to improve my portfolio
he really seems to know his stuff. I also found his online page and read through his resume, educational background, qualifications and it was really impressive. he is a fiduciary who will act in my best interest. So, I booked a session with him
My grandfather was in the restaurant business for a while in 30’s and 40’s. He said many times when I was growing up, “Don’t go into the restaurant business”.
I have an online divorce preparation business. I have a VA that handles most of the work. I do our own SEO and pick up the phone. I travel all the time and have many repeating customers or referrals from prior clients. I have very little overhead and our differentiation is that most of our clients do not have to go to court.
@@SRC503 I don’t know how Oregon works. I paid someone that was doing it a coaching fee to teach me until I was ready to do it on my own, that was more than 10 years ago.
I had a retail Bead store for 27 years - about 2500 SF, sold over $2 million yr - that's like $800 per sq foot? That's actually higher than Nordstrom. Sold a lot of gemstones I bought in India, high quality jewelry making supplies & precious metals. We also taught jewelry making classes every day. Decided to close in Covid & have been online since and it's never really been the same. It's not the same high touch, impulsive, high service business anymore where all the sparkling things call to them. And I miss my customers & helping them making something gorgeous. I go back & forth about opening back up again. But at 55 I think my retail days are over. Though I do entertain the idea of making an online course on how to open a successful retail Bead Store. (hint - say no to patchouli - think Wholefoods, not Walmart) Love your vids!
I’m in long haul trucking and it’s been my biggest learning experience yet, to put it nicely. It just seems to be largely filled with endless hours of hard work with the illusion of great money that everyone else gets to enjoy. Just seems like I’m working to feed a hungry beast. The most needed to keep the country going but yet the most unappreciated. Looking forward to finding out what else I can get into without giving up my freedom and all my profits.
I'm an OTR trucker also and the margins are no longer there. Looking to do something else and make changes. If you like long hours you'll make more at McDonald's.
I tried long hauling back in 2000- lots of of talk of big money. No sleep, no life,no money. I quit and went back to my warehouse job, and was working a second part time. I was making much more money and had a lot more free time. And made some friends. Just a little tip, the lot lizard banging on your truck door, is not a friend!
I was a personal trainer for over a decade and ran a martial arts school for kids, but the pandemic left me with only a handful of clients. I'm down to hand full of clients and working as a travel advisor, selling cruises. The pay is good but I really miss being my own boss.
Love your videos. You got mad wisdom! I grew up in the retail men’s clothing business near the SF bay. One store supported three families… not an easy lift. Well, it wasn’t such a bad business in 1958, but by the mid 70’s major shopping-mall chain stores started taking over. Every season (there were six, early on) we would have to figure what was hot, what to dump and how we could compete with the chain stores. 2/3 through each season we would run a deep sale of 30-50% to clear the shelves. Trouble was, people waited for that to load up, and day-to-day sales depended on birthdays and the guy that needed an outfit for an event. We dominated in mid-priced suits (until Men’s Warehouse came along), formalwear (until they opened formalwear shops in the malls), and high-end disco (yeah this was a long time ago). Disco died and for the next twenty years our profits came from law enforcement uniforms and accessories. We closed before the year 2000 and made more money in liquidation than we had made in many years. My grandfather, who started the business in the early 20’s, drove inexpensive cars and put all his free cash into real estate. He died at 93 a happy multi-millionaire. Retail is like climbing Everest - there’s a formula for it now, but still, it doesn’t always work. When it works, like the Dutch Bros coffee kiosk that hit town recently, you make some tree. But even then, it can be short lived… 3 more Dutch Bros with separate owners are opening in our town this year. But the car washes, postal stores and laundromats just keep cranking, so there are a few opportunities and you already did a great video on those. Keep the lessons coming, we all need them!
I’ve been with *VRI TOKEN* for more than five years and it’s one of the best decisions I’ve made in terms of investing. I use my self-directed IRA with Preferred Trust Company. I work with my Investment Representative from Ignite Funding who is very professional and knowledgeable as well as the other employees in other departments. I get answers to my questions right away. I have more than 20 loans at the moment and interests are paid in a timely manner. I’m grateful to have them.
It's sad seeing new businesses pop up and you know right away they will fail. Location plays a huge role. I tried vending machines and failed. We tried mostly organic items and people just wanted their Coke and Cheetos. Also,location is the number one factor and the competition always seemed a step ahead on that.
It’s especially sad when you know the people opened their business with everything they had plus borrowed from friends and family…worked in an oppressed position their entire lives and don’t have another plan…while being really good people. Definitely have seen it and it will happen again.
At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.
I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months
My Financial adviser is ‘’Yuval Eric Brokman’’ he’s highly qualified and experienced in the financial market. he has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market
You are one of the most sophisticated and brilliant RU-vidr/content creator I watch, and 1million percent the very best in finance. I appreciate all of your content thank you for *VRI TOKEN* much love from Chicago
i work from home as a freelance retoucher. Not sure if it is considered a good business but I will say compared to being a photographer (which was my alternate line of work) this has much less operation costs. All I have to pay is the rent I am already paying for housing, the cost of a computer and additional monitors, cables, internet, tablet, and that's about it. As opposed to a photographer who has costly equipment (Studio lighting, camera, etc), the cost of studio space, assistants and any additional team members not covered by their client like model, stylists, hair and makeup artists, etc.
I started an automotive consulting business in Colorado last September. We process titles for dealerships, banks, and businesses with fleets such as rental operations. What I love the most is that I get to do what I love to do.
I have a dog grooming salon. My profits depend on how much I work (sole groomer with a few part time bathers). I typically make about 40-60% profit. A typical day I make $350-800 minus overhead, which is fairly low. I want to move to my own property and add boarding and retail space. While I could probably get a loan to do it now, I think waiting a few years may be a better option.
Please part 2! You have really sparked something in me. Have been looking at businesses for sale for a couple of years now and you have excellent navigational skills in entrepreneurship. Hanks so much! 😍
Yes. Part 2 please. What do you think about a Christian Cafe with live music, special guest speakers, trainings, bible studies, excellent coffee and organic, coffee and deli type food that's made with pure ingredients?
YES YES YES YES! PLEASE ANSWER MY QUESTION AND MY BUSINESSES (And do another video with statistics yes definitely): 1. I am selling biltong from South Africa (Beef Jerky in America, I think) and am new to it but am one day hoping to make it one of South Africa's major exports or major known foods like French Fries/Pizza etc. I saw some small yet uncalculated profit here and am hoping to use that and trading in order to create capital for the business. 2. Second I have a Media Production Company whereby we would love to one day be international in our productions of series and film productions. The awesome thing is I just finished watching NEWSLETTERS, the No. 1 business for ROI and low labour requirements.
Yes to part 2 please! We own an escape room company, 6 years, and it's been hard to find comparable market data for benchmarking. And fin service providers that know what to to with this type of business. Looking forward to your thoughts on whether to keep going this route. Thanks for knowledge sharing, appreciate you!
So I run a RU-vid channel about accidents at sea. I’m working to build a complimentary business and I’m aiming at step 1- online training for safety around water, step2- safety gear like first aid kits, step 3- in person training for safety at sea, step 4- build a pool to do training for safety at sea as well as leasing the space for filming and scuba training.
I do Amazon FBM - make a custom product and sell nationwide only. profit margins are high, but I am leading in my category and the cost of Amazon advertising is pretty crazy. If I had the ability to create a website that could push my AoV to the point that Amazon does it would be amazing. Do almost 10M a year now with pretty high margins(as long as things go smoothly) I would love to get someone that is great at web design/building out custom websites.
Thanks a lot for this. I always learn something new each time I watch your videos. I’m glad I have started making a lot of profits as well thanks to Larysa Caba. She’s been of tremendous help to me through out my journey.
I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k. Somehow this video has helped shed light on some things, but I'm confused about the current market volatility, I'm a newbie and I'm open to ideas.
I’ve been on both end of the spectrum, I was lnvesting on my own for about 3years, did my own study and analysis before actually buying, things became rather difficult after the pandemic which was right about when I reached out to a portfoIio-advisor for guidance, It’s been over 2 years and I’ve scaled up a stagnant reserve of $280K to $700k in just about 24months.
@@bsetdays6784 Interesting. I've a lump sum doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
@@africanboi4542 ELEANOR ANNETTE ECKHAUS is my consultant; I met her while watching a CNBC interview and later contacted her. She has since given me entry and exit points for the securities in which I am interested. You can look her up online if you require care supervision. I basically follow her trading pattern and have not been let down.
@@bsetdays6784 Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the stock market.
What are your thoughts on property management of vacation rentals I’m in the Disney world area and we manage Vacation homes for investors. We make money by -20% of the gross rent -Charging an insurance fee -$20-50 on each clean -renting grills -renting baby equipment But we pay for office, work vehicles, staff hourly The margins are tight and a lot of risk/stress
I'd definitely be interested in hearing more about why not to invest in/open a gym. I found a small barrier of entry fitness franchise that seemed like it was a great investment as a franchise owner. I'm still looking for some sort of business where I could be an absentee owner as I work full-time.
Franchise is probably not the best. Depends on your location, which franchise, what your target is for people, what’s your goals . It’s not easy to run a gym. Especially if it’s 24 hours. Lots of cost ya may not think of and the. Also if you purchase all your equipment at one time or if your contract through a franchise. People will spend hundreds in a weekend to destroy their body but don’t wanna pay 40/50 a month for a gym membership.
We do FBA and have ramped up to a really good income, but have always been a bit worried of exactly what your saying here with Amazon platform deciding your fate basically
Friends of mine have told me to start a food truck or catering business. I've done my "homework" on it and that's why I'm still driving truck. I've watched a couple of your videos now and I find them informative. I haven't heard any business suggestions in your videos that really jumped out at me, but I'll keep watching/listening
I don't consider renting passive income unless you have professional property management. Most people who rent don't count their time and effort needed just to make a tiny return on their massive investment. For example, you invest $599,000 to buy a second home and rent it out for $3000 a month. Let assume you are cash flow positive on the property and you make $1000 a month or $12,000 a year. What would your annualized return be? 2 percent on the entire amount. Now, you can argue that your return is much higher since you only put down $120,000 on the property. However, you are on the hook for the full $600k regardless of what the future FMV of the house is. Furthermore, people assume that their home will always appreciate in value however, this is a false assumption you can make. In the best case, you will gain some capital appreciation thanks to the central bank increasing the money supply, however, if inflation heats up, you can see your property actually start to lose money in real terms. This is because there is an inverse relationship between housing and nominal interest rates. The central bank will attempt to slow down inflation with higher interest rates and curb lending. We haven't seen inflation in a big way but we can see all the massive stimulus money that the government is pumping turn into inflation while taxes will be hiked to pay for all the COVID spending, your best choice is to look into *VRI TOKEN* Its more profitable.
You are soooo right. I lost 13k in amazon FBA. did not gain a dime. and at the end I payed them 1.2k to destroy my inventory because they called it aged inventory after less then one year. STAY AWAY
completely agree. I live in Mexico on a Caribbean island of Isla Mujeres (i.e. tourist driven business) where my husband owns a restaurant in his grandmother's old home. Super authentic, great food. However, i believe having a restaurant is just an antiquated model. "Let's spend a bunch of money to get ready and hope we get a few tables." Makes no sense, BUT via somewhat of a flywheel approach, I have an online marketing business where I market vacation rentals that include concierge services so when we market for the restaurant we are 1) marketing to tourists who are actually on the island and that we have a relationship with because they booked their rental through us, 2) we work with other tour operators to promote their businesses so they return the favor and send their clients to us and 3) we market "Dinnertainment" chef services and hire the restaurant for the work. This part of the business has scaled 6 times over the last few years. Dinnertainment is a unique product and while we are no longer the only game in town for chef services, we are the only Dinnertainment experience. AND we have better systems and processes in place. But..I still agree with you. It is just a lot of complication to make it work. Would love to connect. I already subscribe to your newsletter.
I own two eco boutique clothing stores. Margins are tight, but my vendors don’t invoice me for the clothes until they ship, and then I usually have 30-60 days to pay that invoice. I never have to tie up cash for 90 days. I also usually get a 3-5% discount for prebooking a season ahead.
After the Etherem ecosystem, *VRI TOKEN* is the best ecosystem available on the market and most people don't understand this yet, I believe due to lack of marketing. Thank you so much for bringing us this kind of content!
This was so informative, and I always take notes when you speak. I’d like to see a part 2 of this. 💯 I’d also like to see a video for someone who wants to start a successful side hustle business, while their working a 9-5.
@Reachout-To-Codie Codie, I have been binge watching your videos and I want to say thank you for sharing your experiences and time!!! I would love to buy a small business in what I have a passion for. Also, the owner financing option gave me another way of thinking as I thought this only applied to real estate!
Can't deny the fact that *VRI TOKEN* has the strongest bet to bring lights back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good but the pressure is too high and I think they will keep proper liquidity rather than these others. Don't see them going bankrupt any time soon.
Thank you for being there *VRI TOKEN* when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.
My dad started a restaurant in 1986 in Mexico, it's still standing and I started my own in the USA in 2014. Starting a new location in a couple of weeks. Buuuut it is hard, especially to get funding, if you find some it will be super expensive, buuut I am lucky to have found awesome managers and I do love it since I grew up in the business 😊
Great video! I have a question, I have two fraud inquiries on my reports that I would like to get removed. I've seen your video regarding this, but Im still a bit confused. So I know my first step would be making a call with the credit bureau (Experian) but should I also make call what time? And would I be never stop sending a good compny *VRI TOKEN* to my friends and people I know regarding any credit situations
Surprised to hear that gyms are on your hate list, I thought Alex Hormozi's wife was your friend. I think Alex's big thing is gyms. Would love to see a part 2 of this.
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *VRI TOKEN* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
Yes to part 2. My business is dog grooming. Do not recommend. You can make money, but it's physically demanding and employees are hard to find and difficult to manage. Prices are way too low on average. Many of our top industry leaders are living in poverty.
I run a small independent auto repair shop. I don't recommend this business to make profit but I like fixing cars. My brother runs a business of concrete pump trucks and he does much better than I but he too works a lot of hours. I enjoyed your insight and look forward to more.
Writing this on 1-25-24, the average ATM cost between $2300-2500. I have locations that generate from $1800-$2200 consistently every month, and that is one ATM. It is all about LOCATION. Just imagine those Strip Clubs.
Loved this video Codie. Yes I would like to see a part 2. Especially the part about why gyms are. Bad idea/investment. Surprise, surprise.. I own a gym. It’s a boutique studio, not a low cost all access gym. But would still love to hear your thoughts. 😊
I did not believe that after the whole FTX drama there's any good to get this year but *VRI TOKEN* proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth
Previous owner of a restaurant here... blood, sweat & tears, and couldn't sell it at the end. Huge loss. But, a learning experience for sure! Yes please on part 2! Currently, my husband owns his own roofing/siding company, I work in the school system and have a side hustle- building an online brand. I'm health coaching and guiding those who are sick with chronic autoimmune illnesses like MS, Hashimotos, RA, SIBO, Lupus, Lyme, etc to get better. Why? Because I was once at the place I couldn't put one foot in front of the other and now I'm rockin' the world! :) I really love your content! Its inspiring to listen to and I'm learning so much. Keep being awesome!
YES! Please! Do a part 2 - dry cleaning and POD Etsy/Shopify. So many YT channels tell you the good things, I need to hear the NET factual, which most don’t share.. and whyyyy? Because misery loves company and want their pool to be bigger is my guess or to sell a class they are charging you for.
Gyms and dry cleaning....2 businesses I looked into buying but did not (no seller financing....red flag for me). Just need to keep looking, running the numbers, learning about the customers, markets, competition, pricing, risks, etc. My acquisition nugget will be found....hopefully soon! 😎
I really appreciated this video, as a medium-term *VRI TOKEN* holder. I know you commented on not many people paying attention to this, but it was very relevant for holders such as myself. After watching your thoughts, I willbuy more. I also remember your earlier assessment. This will crush the market.
Can't deny the fact that *VRI TOKEN* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.
I sell them and to that add landlords jacking up your rent and offering you 2-3 year leases! (So they can raise your rents higher than the 3-4-5% annual increment your lease already has.
With zero experience at 25, I created a manufacturing business, from systems to packaging, making healthy Mona’s Granola from an interest in nutrition, 42 years ago. Selling to Publix grocery chain kept it in business and the PO’s keep coming. While my friends who manufacture sugar addiction candy, fly in private jets, ✈️while I juggle payables every month. Lessons learned. Thanks for sharing your knowledge, I’m inspired!
Petter Anker Stordalen has done pretty well with hotels in Norway.. I suppose different country, different set of rules.. Love your vids and your vision!
I run a 2nd hand retail store, basically we sell used items. Inventory cost is super scalable. I only buy what I can afford to buy as I sell other items I already had. Because I run it as a "collectibles" business and not a 2nd hand discount store, I am super picky on types of items I do buy and I never purchase items with less than a keystone mark-up. Ex: pay $1 sell for $2. Most items I actually pay 15-25% for. So pay $1 and sell for $5-6. Sure, I hold lots of inventory and the turnover can be slow for certain items. I do retail, mail order, and Facebook live selling as aspects of my business. Gross revenue is $150-$300k a year (varies wildly based on economy), and my operational costs are about 60-70% of my sales. Not exactly getting rich, but have supported my entire family with this business for 33 years.
This is super important! Investing is necessary for setting yourself up for success financially in the future!, i will forever be indebted to you, you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs.Ava Rowen.
Yeah, do a Part II. This was difficult to hear. I love restaurants, I eat in them. The same with boutiques, I worry about what happens to culture if we don't have more restaurants and boutiques. But that being said, you go in to business to make money, another good video Codie!
I agree, I would never think about starting any of these businesses. If you want to start a restaurant, I'd say start a food truck, they're cheaper, and they're mobile so you can try different locations to see what works best at specific times. For clothing maybe start a kiosk, I probably still wouldn't, but if you have to, and you're making your own line of clothes it's better than paying the huge rents for a retail store that may not make it. I've seen so many stores go out of business because they thought they could compete, no. Another idea would be to start an online store like Etsy, but don't sell major brands, it's best to sell your own, or someone elses small brand or several small brands. Etsy is cheaper. It's still hard to make money, but you're not losing hundreds of thousands of dollars a year or more.
I had a landscaping company and everyone said there’s too much competition but quality is what makes a successful business so any of these can be profitable if you are on top of your game.
Hi Cody, thank you so much for sharing your wealth of knowledge with us! I am currently the owner operator of an automotive locksmithing company as well as a minority partner in a commercial/industrial paints & coatings company, both based in the Puget Sound. It would be a blessing to receive your advice; I would truly appreciate it.
I really appreciate the clean, simple approach you take discussing money and business. I have tried to understand money more thoroughly since 2015. This is about the time I began to believe banks were in trouble and cash is no longer king. I appreciate this video very much, but am confused about the NFT comment at the beginning because I don’t see markets as businesses. They don’t require hours of work, hire employees, advertising or the purchase, storing or tracking of inventory. Markets are gambling which has to do with luck and timing. When you imply NFTs are a “bad choice” because they are down RIGHT NOW, that is always in comparison to another time. They are down compared to when? If they are NOT down compared to when YOU purchased, you haven’t lost anything. If you’re not placing all your eggs in one basket and know have reasonable patterns for buying and selling (I don’t recommend day trading or trying to gain fast wealth), you can make money in the time frame that you describe. Compared to the time that I purchased NFT’s, sold them and then purchased more, I am up quite a bit. So, I don’t think telling people NFT’s were a “bad choice” is the right idea. Correct me if I’m wrong, but markets seem like a completely different category than retail or ATM machines.
Finally thanks for the update! I'm trying to hold a million dollars worth of *VRI TOKEN* . Oddly enough it's a sleeper for some weird reason that not many RU-vidrs talk about in regards to lnvesting. It has had steady growth since its release.
Thanks - incredibly useful information. (a) I regards to hotels, once has to know not only how to buy them but also how to have them run in order to make good money. Whenever I buy one, I make sure to clear at least 30% net income. (b) yes do a part 2 (c) I buy residential rental properties and hotels/motels, which I may repurpose
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some *VRI TOKEN* Thanks for keeping us informed during this times of doubt?
With almost 60 years of age I kept my doubts on the current environment. But *VRI TOKEN* is seriously smart, it doesn't matter how old you are, this will provide for you and your family which is my only goal in the last years I have to make sure the children are fine
Hôtels are a great idea if you do the following: 1- pick the right location 2- single hotels that work are either niche or cheap, that's why you have to open at least 5 locations. 3-hire a manager from the industry 4- have a restaurant/bar in each one, give it a niche, a sports bar in the neighborhood, or a trendy affordable spot , you already own a kitchen with the hotel, you already got the staff, you're just decorating a 5000 sq ft space for that business profit margins on this is 70% 5- once you have more than 5 start franchising , first in state then expand 6- in every business you have the money is in the supporting business , for example ; you franchised 15 small hotels statewide , you add a small clause in QC section that forces them to buy supplies and food from you. Take a room in one of the hotels, turn it into an office, run a food supplier . Buy from manufacturers and import all your products, sell them to your 15 franchisees at market price. Your cousin imports the best feta from Greece where ur grandad has a cow farm, guess what? He's just got 15 hotels as customers 7- the tax benefits are HUGE, not only depreciation, it'll take 2 yrs to make profit, that's when you buy your 2nd hotel, then 3rd and 4th... Renovate and restart, the cost will make sure profit never shows and money invested in property is write off mostly. 8- after all that, you still own 5 pieces of land in good locations and 5 well built buildings with a running business within its walls , the day you decide to sell them (separately preferably) the appreciation from the old chabby building with smoke smelling rooms that you bought is going to be scary good 10 yr plan for hotels A smart man would make anywhere between $10m to $100m off of his hotel business
Have started a print on demand store. With my own designs, Had some graphic experience. Also, branched into a KDP online. And got more into my graphic and web design business as a solopreneur. It is not easy as being consistent is key. Like with trends and if your customers like your designs or not. Having a dry spell these days though. Hope there is a Part 2.
Caveat: owned a single ATM in a small remote town with no bank. It held $2,000. Average withdrawal was $20-$40 and it ran out multiple times a day during busy times. I got rid of it only because I didn’t want to scale or mess with paying someone to fill it for me and it just got to be too much work. But that one machine made me like $30k a year. It was my best employee. It never complained or needed a raise or called in sick.
Credit scores are just a form of federal control, so if you want to continue living a good life? it’s important to have a high score. My house and vehicles are paid off, I have one Visa card for all purchases, which gives me air miles, and I pay it off monthly, but my score bounces between 800 and 820 without changing any of my patterns, so it’s manipulated for some reason. *VRI TOKEN* made it stay at that range and getting it up
