How to Buy a Business for $0 in a Week
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- čas přidán 15. 05. 2024
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Chapters:
00:00 - How do you buy a business for $0 in 1 week
00:56 - Finding What Biz to Buy
3:49 - How to Have The Conversation
8:18 - The Venmo Challenge
11:42 - The Personal P&L Review
16:44 - What to do on Day 1?
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Guatam Adani is the richest man in India, worth over $48 billion. Carlos Slim Helu, the magnate of Mexico is worth over $85 billion, and Bernard Arnault is richer than both of them combined. What do all three of them have in common? They bought businesses to build their empires.
Now I know what you're thinking, "but Codie, I don't have a lot of cash, how can I buy a business??" Today I'm going to break it down for you and show you how you can buy a business for $0 cash, in one week. Yes, really.
I've spent over 10 years working in finance and making money, and the skillset that changed my life more than anything else is "creative financing." If you want to know what to buy, just look at where you spend. It's the Venmo challenge: wherever you're spending your money consistently with small businesses is usually where you should reach out to the owners of those businesses.
Who are they? What do they do? What do you spend per month? What's their revenue, and finally, what's your value-add? I'll show you how to break it down in this video to determine the right business for you to buy.
Also we're coming up on our 1 million subscriber milestone. We've come a long way since our first videos on our channel and couldn't have done it without you. Please continue to spread the word and subscribe if you already haven't. What video(s) helped you discover my channel? Comment below!
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📸 Instagram - / codiesanchez
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The BE AN ADULT SECTION 🤗
All content on the Codie Sanchez CZcams channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links. - Zábava
Wanna get the full guide to buy a biz for $0 in a week? Download it here: contrarianthinking.biz/buyforzero-yt-lg
Do you have a guide for how to find businesses available for sale to begin with, especially if this “Venmo list” is $0. You spend $2000/mo on a cleaning lady? That’s most people’s monthly rent!
Codie, how does one get in contact with you?
Is this applicable to ordinary folks with no credit standing and starting up with no fancy car to flex so seller will believe the buyer?
Would love an opportunity to work with you...
Your business intelligence is so sexy, loving this
Ms. Codie Sanchez,
I've been watching your channel for several months. I love your story. Anyone can do this! I perceive you to be a source of inspiration. Your content is spot on, and I don't feel like I need a fancy degree in finance, banking, etc. I'm ready for the next half of my life.💸💜💯✨️
14:38 Sales is easy! Getting prospects to sell to is what’s hard! Please talk about how to identify people to sell to / buy from. That’s the topic where the silence is deafening.
My three favorite channels: Codie Sanchez, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
I appreciate you!!!
I’m just going home and I’m
I love this channel. You're smart as hell and have widened my visions of possibilities
I'm hooked on Ms. Sanchez's vibrance, wisdom, business smarts, strategies and vision. AND I've learned more from her w/ regard to implementing these strategies than I did in business school. I have an MBA. I understand the vernacular. Need to put it into practice.
Priceless!!……love this!…..love you Codie!…..Soo fricking smart!…..thank you for inspiring us to go for it!!💕
Thank you for opening my eyes. I just realized the possibility is literally already in my possession.
Thank you for taking the time to prepare this video.
Great information Codie. I am new to following you. I wish I had this information years ago, it would have leap frogged my success.
This is sooooo dope!! Ty I’m meant for marketing and elevating others lives because the joy I realised it brings me. After 4 years of being a special education teacher
The work you’re doing is so incredible, I’m so thankful to have access to it. Looking forward to learning from you and your programs
I'm not quite ready to take the plunge yet, because I'm focused in another asset building endeavor. However after I get a handle on my current challenge, this will be my next hill to climb. I LOVE Codie's content! She will definitely be a primary source for ANYTHING I do related to buying businesses.
We appreciate you for your stellar content!
The KEY is knowing where you add value, and then how to apply it to the business to make maximum impact. Could be local marketing, finance, sales,...
Thanks for sharing and for your time.🔥🔥🔥🙏🏿👍🏿
Had this exact convo with a plumbing buddy of mine 2 weekends ago. Love this. I'll hit back in 6 months and post the checkup.
Would wait to know the post 6 months checkin
Same someone pl like this comment if he ever posts a update
Same here ! Plz like the comment so I can know thé result!
Update?
6 Months later, how did it go?
Thanks for sharing. Will download it.
Good value Amiga!👌
Much value 💎
17:54 ok, but what about *before* you find these people! How do you find businesses to buy, especially if the “checkbook” (small businesses you write checks to) doesn’t exist for you?
I LOVE this so much! I'm structuring 0% seller finance deals to purchase real estate everyday! How does this paperwork look like? I imagine a pretty straightforward agreement between Business owner and buyer of said equity? then just notarize? Thanks for tall the value!
Mrs.Codie you should go on the lecture circuit at high schools to teach students about fiscal responsibility and entrepreneurship. You could be a role model for all female students and show them the sky's the limit.
Unfortunately that's largely up to school boards so that depends entirely on whether they WANT entrepreneurs in a system designed to create factory workers
Love you Codie. Your videos are very inspiring. I think you have inspired me own a business this month. I will open a business in November.
Thanks for ur videos. So much valuable info ))
Very enlightening thank you
Awesome, the best thing I learned today
As usual thanks 🎉
You know, just a few more of these "guide" videos, you put out and you will soon break my hesitation of buying my first business and taking the 1st step. My hesitation is very close to getting broken. I've been watching at your videos for months. After finishing, I cycle through your videos again. One reason is my small financial vocabulary for which I'm trying to learn more words and concepts and still the confidence hasn't overpowered the hesitation.
👨🏽🏫& for all the notes you need a custom TwisT daily goals planner 😉 b4 prices go up, let me help you be organized.
Crazy!! There are three business we can purchase in the future and double the revenue.
Her edits are insane!!!
Awesome! Talk about step by step. More practical, then Harvard business school? Probably!
subscribed!!!
thx forv info
Codie is so talented so driven so focused so inspiring! LETS GO ENTREPRENEURS!!!❤❤❤
hey codie great video
Love it!
Where do you find Boomers with businesses to sell in the first place? The motivation, vision, and deal structure is the *easy* part. The hard part you never talk about is how to identify the sellers to begin with! Help!
i lkied your idea can you make video in detail where you can show how to scale and grow the business bought
So much valuable information and quality on editing in your Videos Codie, greetings from Honduras!!!
Thanks so much!
@@CodieSanchezCTHi Codie!😊 You're such as an inspiration. Because of your content I would love learn more about private acquisition and buying a business process😍. How can I reach out to you if I find a deal for you? I think I might have deals coming up.
WOW I REALLY LOVE YOUR VIDEOS CODIE,THANKS FOR YOUR TEACHINGS!!🙂👍🙏🙏
"Cause I'm a Dirty girl" was the best 😂
You got my subscription
Dude I don’t know if our cleaning services in Houston are going to be that upfront about how much they make per year. I pay mine in cash, so I’m not sure she has records of all her payments.
Best one yet
Actually. This was more-ish... I need 44min minimum. 😅
Good idea, but this is not Buying a Business, this is more like I am providing a marketing service for a fee, and I have years of experience in this field. It's not useful for everyday guy. Thanks for sharing.
I have more than 10 year's experience helping small business owners grow their businesess. Do NOT buy a business unless you know how to grow it...and if you know how to grow it.
Also, from my experience...having to depend on small business owners for income is extremely hard because they're emotionslly attached to their businesess and have a hard time agreeing with taking the business into new areas of marketing, copywriting, systems, processes etc.
Theres usually a reason there business is at its current state and its almost always due to the current owner's decision making.
Good luck if you try this approach!
Amazing. 🤘Question: what must a contract like that cover?
It’s a healthy thing to “cringe” at your old self because It shows growth and maturity. So right on girly keep up the amazing work you do! 😁🤩🫡💪
I need to make relationships! I do everything myself lol ❤ i know this would work! Especially where i am! I know a ton of people but im not close enough to them to have these conversations! So i cant venmo it but i can go back to people i used to hang with that are now struggling small business owners and help them! And it helps me too! Win win
Love this. My question is, once you get it going how do you replace yourself so you can move on to the NEXT business?
you cant. if you can replace yourself then that person has your skill set and doesnt need YOU and will find a way to kick you out of your own business. trust me on this.
@@danf4447smh come on dude lol
Hire from within or external. That’s up to you but one way is to also give someone a small % equity for them to run the business. Incentivize them to keep building the business while you just collect a check. That’s passive income.
Love you sister ❤ You are such an inspiration 💗
Learned more watching this vid than any business class.
Looooveeeeeee youuuuuuu!!! 😘😘😘😘😘
Question about the sweat equity deal: Let’s say someone agrees to give a % of the growth you realise for them in year one of the partnership, does this mean for year 2 that you get the agreed %/equity from the start or again after a certain amount of rev is realised?
When does the other party give up their equity or is it only based on % of revenue/growth you realise for them?
Wow I wish I was smart this lady got it going on
You're brilliant for someone so young.
Your videos are great, I noticed they are all geared towards people that have never done this before like myself. It would be very helpful if you spoke in simpler terms. I was an IT exec for 20 yrs but I don't know anything about buying business or the lingo. Watch "my first million" where he interviews the gal with the egg carton business. She explains it using simple terms that are easy to understand
I can do this. I started two or three businesses on my own. Business, breeds Business.
TY Codie
Lover her drive n attitude
So this is the blueprint? If I'm understanding this correctly, me--- a lay person does not need to recruit or use a business broker right?? Please advise.
Umm 🤔 I can do this. Thanks for the video.
i love your video
I never thought about it this way. So grateful to find you. Inspiring and I want to learn more
what about HR where does that fit
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
@@FeFairy-nk7pw Thank you so much for this tip! Finding your coach was a breeze and I was really impressed with all the research I did on her credentials before scheduling a call. It's clear from her résumé that she's extremely knowledgeable and skilled, and I'm so excited to have the chance to talk to her!
Don’t get me wrong. I find this mind blowing but when I talk it to somebody who is in business. They told me it’s impossible that business owner would sell their business if not to pass into their sons or family members. How would they believe me as I’m getting started and I have not yet priveledged and have credit standing nor I own fancy cars they would believe me?
Looking for life insurance agency to buy...small or large book of business
Funny, I naturally, already think this way!
You had me until "the personal P&L review" though, and then you went into "jargon mode".
Jargon + math turns into "wah, wah...wah, wah...wah, wah, wah".
Love and like the way you described all these things. Thank you. I don't see the next step that anyone has explained on the CZcams which is the legal part of the system. How do you make a contract and what are the legal side of the acquiring a business.. how that thing happen?
Thanks
This is for if you have reputation (Business history) and good credit yes ?
14:25 talk about how you got into private equity to begin with. How did you meet those people?
This is basically just called (Growth) Consulting for Equity. Been done a billion times already.
No-one who cleans houses make 150k/yr. She's living in a rich persons fantasy world!
Obviously you’re not paying attention to the video then. Maybe rewatch it paying special attention at 5 minutes and 22 seconds.
I actually made 100k cleaning houses last year. A whole lot of toilets to clean to get there but it is possible.
The owner of the company does
Okay this makes sense but given that every business has different margins, how are you baking that into the deal structure?
Why would someone agree for seller financing with a stranger ?
Awesome
You´re a legend. Thankyou
So this venmo challenge is on Paypal and what is the other app or platform
Take a look at 1:55 video. Oscar making more the a Million))If u r in finance with this much knowledge of math ,then i should call myself Bernard Baruch.
i love to see codie in sharttank😊
This is great! I own a cleaning business and I think the challenge is good record keeping. How sure are you these small businesses will have good honest records?
Mi favorita speaker 🙌🏼🙌🏼🙌🏼
Todos los días la escucho rumbo a mi trabajo de mínimo a la hora. Se que algún día tendré mi negocio 🙌🏼🙌🏼🙌🏼🙏🏽🙏🏽🙏🏽
More mujeres latinas como Codie por favorrrrrr👏🏼👏🏼👏🏼👏🏼💃🏾💃🏾💃🏾💃🏾
Question. Why would the previous owner want to stay on as the operator but not want to be the business owner anymore? I guess he's getting paid is the operator now, while also getting paid for the business. Or it's a way for him to stay on a couple more years to leave things on a good footing before retiring. ??
ITS AT A M an M? phonetically M starts with e, em? lol love ya!
I spend most of my money on Amazon. Guess I’ll just call Jeff Bezos and make him an offer he can’t refuse. 😂
it's hardr to do in canada. no one is willing to do seller finance where I am unless its with some amount of money upfront.
Codie, you can add value to your business model. Look at the franchising industry. There are plenty of franchisees who bought franchise stores and not doing much and want to get out. if franchises were sold to their customers rather than one franchisee, they would be a hell of lot more profitable as the customers have equity in the business. say a pizza business was for sale at $300,000. It's better to have 1000 customers invest $300 each, than $300k from one franchisee, and you would have an extremely profitable business.
I wish I knew about this two years ago. 😫 Now my heart is broken.
Who do you use for property management?
Codie, I would like to buy a digital business that i can operate online. Where can i look for that?
This is not average Joe worth content. This is for someone who has years of experience in business and finance. Almost like a Master class. I love seeing these videos but they are all ran by multi-millionaires who literally make this content to just gain exposure to millions of people who won't use it but help create more ad revenue. We need more videos of a father of three making 50k a year and showing others in the same boat how to move forward.
Yeah the devil is in the details and beginners are getting mislead here
Lol. If you think you need years of experience in business and finance to buy and improve an existing business, you probably just weren’t meant to be a business owner bud.
@@rubencervera6360i don’t think you read what he said in his comments….he said to get accepted by a small business owner you have to show them you are capable of making them richer…
Dude… in 2007 I had a business where I would get homes that were for sale under contract for ZERO money down, then I flipped the deal to someone else (basically sell them my contract) and made GREAT money! This is basically the same thing. And NO I was not a realtor.
All CZcams is a joke to be honest.
I would like to know how you structure the deals that guarantee you get paid and how you get paid
Cool I can break down more give me specifics on what else you want to know
Right, so I thought it makes sense to have a contract in place where once the gross revenue hits a certain number you begin to draw on the equity you generate, but then at tax season take out a sum payment to settle up. But in the example of the house cleaner, you would have to legitimately become their bookkeeper/office manager to ensure you get your cut. And if you do it that way, you can assume they are getting the $150k they said they make on their own, and you are just drawing 50% of everything you refer them.
Following
What about funeral homes where you're not a licensed director/embalmer, but the owner is and is looking to build up the biz and exit? Would have to find those workers to replace or it wouldn't work and getting the right manpower in this specialized field might be tough.
That is tough, but not impossible. Find a young guy looking for his breakthrough in that area. Trade schools? Special training courses? Old timers that know others? Competition's younger (unappreciated) licensed people?
When's the first payout? What's the payout terms?
Damn Codie! ❤
Thank you 🙏 I appreciate you ❤