Buying small businesses

[Kyle Mason]

Hi, 

I recently saw a YouTube video and it got me thinking about investing in laundry mats. I looked further into to this youtuber and discovered she buys small businesses.

What small businesses would you all recommend investing in as a start?

 

[Nathan Gesner]

Any business can be profitable if done correctly.

Look at your own video. This guy bought the laundromat and is making almost $4,000 a month net profit. Why did the previous owner sell it for only $85,000? Because they didn't know how to make it profit $4,000 a month!

It's not just the business. You have to know how to run it properly. Most small business owners don't have a clue how to make their business profitable. I know people that are really good at their trade (plumbing, cleaning, electrician, etc) but they don't have financial discipline, they don't know how to market, they suck at customer service, they don't use tools to their advantage, etc.

Cody Sanchez (lady in the video) buys different types of businesses and makes them profitable by applying basic business disciplines. That's more important than the type of business.