Buying Boring Businesses

How to buying boring businesses – Codie Sanchez is a self-made investor who leveraged her experiences from working in high finance to form her portfolio of unassuming businesses like laundromats, car washes and trailer parks – each of which bring in millions of dollars annually!

Codie shares her top tips for finding, assessing and purchasing boring small businesses.

1. They’re Less Risky Than Startups

While many entrepreneurs focus on starting or investing in tech startups or trends, stable businesses that make money regularly offer more reliable income. A study showed that one out of every five new businesses fail within their first year; up to 45% do within five years. By contrast, purchasing an established business already boasts a track record and customer base.

Car washes and dry cleaners are two examples of businesses that provide essential services that people continue to rely on; while boring businesses typically boast lower risk profiles due to not relying on cutting edge tech innovations.

Establishing and running boring businesses doesn’t allow for as much potential growth than startups or dynamic industries, yet can still deliver an excellent return on investment. Furthermore, many of them have deep ties in their communities by supporting charities or providing leadership roles over time.

Are You Seeking a Reward From Your 9-5 Job? Consider Purchasing an Underperforming Laundromat or Vending Machine As A Way Out

2. They’re Easy to Market

An ordinary business can become just as exciting when marketed appropriately. Instead of emphasizing its features and benefits, put the focus on what your customers care about; for instance if you own a freight forwarding business don’t market it by detailing technicalities of international trade laws; instead promote how your service makes expanding businesses easier for your clients.

Boring businesses often meet the needs of specific industries or niches, resulting in steady but slow growth. Furthermore, these types of companies tend to be less vulnerable to economic fluctuations – an advantage when searching for reliable income.

Purchase of an established business can save both time and effort when developing products or services for it.

As such, boring businesses tend to be easier for new entrepreneurs with limited business experience to run and scale than flashy ones. Furthermore, customers find it easier to relate to boring businesses because they solve real world issues more readily – this explains why so many investors prefer these types of investments over flashier ones.

3. They’re Less Expensive Than Startups

Contrasting flashy startup companies focused on 3D printing or wearable tech, conventional businesses tend to rely on tried-and-tested methods for success; as a result, these traditional enterprises tend to be less costly to run than any emerging trend in business.

Also, they tend to have more sustainable revenue models due to providing products and services that are necessary rather than luxurious; such as accounting and tax services being in high demand alongside property management or funeral services. Finally, boring businesses typically provide services with recurring revenues so as to foster strong client relationships and long-term loyalty from their client base.

Subtle businesses tend to last decades and boast proven records of success, creating a secure revenue stream and giving them an advantage over startups that frequently change directions. Boring businesses also play an integral part in their communities by providing employment and contributing to local charities; their CEOs tend to be thoughtful, responsible and disciplined instead of being solely focused on themselves and their brand’s popularity.

While you might assume starting a profitable business requires the skills of an executive or business building genius, this isn’t true – in fact there are numerous unassuming yet lucrative businesses waiting to be taken advantage of! That is exactly how Codie Sanchez of Young and Profiting left her job to make millions running what she called her “boring” businesses like laundromats, car washes, and trailer parks!

4. They’re Easy to Operate

Contrasting with flashy industries that grab our attention, boring businesses tend to be easier for entrepreneurs and investors alike to manage, as they typically serve essential needs that generate consistent demand with lower risk of failure. Such security makes these enterprises attractive investments that provide reliable returns.

Boring business models are an ideal fit for both novices and established entrepreneurs alike, as their simplicity makes them accessible to both sides. While startups require considerable time and resources for building out products and services as well as cultivating customer bases – an existing boring business already has these foundational elements established, saving entrepreneurs both time and money in development costs.

Furthermore, boring businesses typically operate year-round, making them more secure than other small businesses and easier to run during economic downturns.

Boring businesses don’t always need to compete with hip industries when it comes to customer acquisition; they can still set themselves apart by offering something distinctive or in high demand, or increasing prices and offering new products or services; for instance, after Codie Sanchez left corporate work and launched Approachment she raised prices and added phone support in order to increase profits and drive growth.

Are You Exploring Starting Your Own Business? Whether You Are an Experienced Entrepreneur Searching for the Next Venture or Just Beginning to Explore Starting Out Purchasing an existing boring Business to Jumpstart it