Meet the 22 year old who makes $7.4K/ Month with a Car Wash
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- Äas pĆidĂĄn 19. 04. 2022
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This is wild! Hannah is only 22 years old and making $7,400 per month with a car wash. The crazy part, she didn't even have to spend any of her own money on it. Check out how she did it so you can do the same đ
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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.
#passiveincome #carwash #boringbusiness - Jak na to + styl
Watched your video on car washes - while I was going through a car wash. I stuck around, counted how many cars went through in a 20min period to estimate weekly traffic, wrote a rough P&L and then got the phone number to the owner. Thanks Codie!
@james whatâs the update? Any updates on your offer?
and what were the figures.....sheesh suspense guy...lol.....
Any updates?
@@jsbrooks72 while we wait, I decided to contact a few boring businesses, to my surprise, I received a lot of positive responses, currently scheduling meetings with owners
@@marketing_coachany update brother?
Great video! Would love to see a video that discusses the different aspect of buying a business with land ownership vs leasing it. Here is California, itâs been a big dealbreaker in getting started with these small businesses. Sometimes the land leasing eats up close to 50% of the revenue.
I love this. Never thought about the vertical and horizontal integration of business. Great content. I'm looking to do this with trucking companies and truck stops due to the lack of everything for truckers which is a gap I see in the industry
Your channel is extremely under rated, I started my vending machine business because I seen you talk about it on your tik tok.
I got lucky and found a seller trying to retire, got it cheap!. Love what you're doing, keep it up.
where did you find him?
Awesome. Keep us updated on how itâs going : )
I wanna do this any advice bro
@@BrandonsRandoms I found him on Craigslist, Iâve also seen other posts on Facebook marketplace. You just have to be careful, everyone says theyâre retiring but just do your due diligence.
Be very careful, I find the numbers stated on this channel to be not real world numbers. Car washes don't make $7K a month. They might gross that and they might net half of that if they have no issues.
I love how you think. Thanks for sharing Codie!
Great content! I really like how you've explained cash flow, car wash, and seller finance! Really hands-on! Keep up the good work. Looking forward to new content.
Thank you very much, I appreciate and value your time in putting this video together. It gave me numerous ideas to go over.
Excellent video because you stuck to the pointâŠ.and the background music was not annoying. You are an amazing producer of informational videos.
I love your energy and your welcoming attitude towards business. Makes me wanna try this again.
Love these kind of videos! Keep em coming!
Mannnnnn! Mrs. Codie! I love your videos. Applied Knowledge is POWER!!! Thank you.
As always, excellent video Codie!
Thanks for sharing love, just rented a car wash space with no real experience but I'm looking to bring some value to the game, i love how you highlight upwardly mobile youths
Awesome as always! Thank You!
Great video thanks for featuring me!
this was a real eye opener thank you for all that crucial knowledge
I love your channel. Iâve only watched two videos and learned more than Iâve ever learned my whole 28 years.
Amazing story. Thanks for sharing.
I always enjoy your content. Great summary!
Thanks Codie. It's inspiring
Greetings from Brussels, Belgium
Great job on building a successful car wash business! This is a great way to create wealth and provide a valuable service to your community. Keep up the great work!
Terrific info, though "vertical acquisitions" typically means buying companies that either you sell to, or that you sell to. "Adjacent acquisitions" are businesses related or complimentary to yours, but aren't already your customers or suppliers/service providers. Thank you Codie!
Thank you for the great content! Really liked the idea
Great stuff, Ms. Sanchez, great stuff!
this kind of info is SO underrated ... holy moly - so much value
Great content Codie thank you!
Great video with step by steps...love it! The carwash biz has been interesting to me for awhile now, going to have to dig in a bit more and start trying to find some deals. Thanks for the awesome content as usual Codie!!
Thanks friend - what sucks about the video?
@@CodieSanchezCT LOL I absolutely LOVE that your first question is "what sucked"!! Too many people are afraid to hear the answer to that but in my opinion is one of the most important questions to ask ourselves and our fans/followers/customers etc. I loved all of it, especially the macro view of market potential eg. the number of cars vs. car washes. Also loved the vertical/horizontal markets and the margins on the vending items that could be over looks by an owner.
A few things that didn't "suck" but that I would look at would be:
Video of the subject you are working with. While I'm super happy for (and jealous of) this young lady and all her success, the energy level of the video seemed to drop for me a bit, maybe it was the background or perhaps adding some more live footage of her.
The text blurbs about seller financing was only on screen for a short time so it was hard to read in the time it was displayed (the others felt like good timing though).
It seems like you are experimenting with different content/video formats for youtube and maybe other platforms (which I think might be intentional). No problem with that, I would just say once you find that format you love, stick with it for consistency in content delivery and branding.
Take those with a grain of salt...I'm just a UX guy that appreciates your content and finds it super valuable and insightful!
Keep up the awesome work and congrats as always on all your success!!!
@@jasonedwards3866 cooooo ty! Helpful!
Can a carwash be financed?
I love hearing stories about hard working people who have success.
Thanks for these wonderful specific & practical explanations!
Time to make some calls ! and look for businesses that can be revived / owner is basically done with it. Thanks Codie!
Not sure where this is but in Toronto, Canada a $140,000 wouldn't even get you a meeting nevermind ownership.
Loooooove the videos! Brand new fan here.
One quick ask - can you please leave the text on the screen a little longer? I feel like that kid in class copying down PowerPoint and the teacher is waiting on me to finish writing before going to the next slide lol
Love your channel babe very knowledgeable havenât heard of you glad it came across
Nice video. What you described at 12:10 is called lateral acquisition not vertical. Vertical would mean buying a soap producer to supply your own soap for example. Cheers, always here to educate.
exactly
That $140,000 price is absolutely unattainable for the northeast. Looking at New England there are a bunch of carwashes for sale and different variations. The cheapest one I could find was $2.6 million. So to find even an empty parcel of land for that price is nearly impossible.
Very inspiring story, Codie. Thanks for the vid. Checked out your Website and just subs!
Love the knowledge you are sharing
A lot easier said than done. Not a bad example to prove some points, but not beyond that. I bet seller financing would happen less than 5% of the time. That $7,400 is going to be more like $5,000 after taxes. You have to know how to efficiently run and manage a business from day 1, because nobody will help you. Also if it wasn't for living with her parents she would be practically homeless. Vending machine and installation I would guess would be somewhere like $20k. Do that multiple times since that's her only current way to make money, the car wash is just the attraction, she's years living on extremely low income. Not to mention property insurance deductible, liability insurance deductible, repairs and maintenance, staff payroll, an accountant, need money for all that stuff on day 1. Like all businesses like that it's not going to be comfortable living until most of your expenses are paid off, it's something for the long term. And no guarantee you'll last, people might drive less because of gas prices for example and she still needs a way for the business to be profitable or she's back to square one at building wealth again (on top of having no education). Glad she's making it work, but she has to be taking on a ton of risk for the moment to make it work. Only thing that's guaranteed is she won't end up homeless because of living with her parents.
Wow just ruin my dreams now huhđ
true the average 18 year old moves out of their home or goes to college at a doorm, or they get a job at wal mart or somehwhere- they dont magically plant money trees and 4 years later they got 100,000's sitting to nvest in a business , where i live doing this would be nearly impossible with those #'s she used
Great story and well presented. However, revenue ($7.4k) vs profit (??) should have been a much more central talking point. After all we talking about a big financial decision. Profit is what the girl will make each month, but alas we dont know what that number is.
She said $7400 profit. Which means revenue minus expenses right?
@@CK-wo1ly nope, she collects $3,700 every 2 weeks
Yeah she brings in $7500, but that's not what she gets to take home (profit). You have to deduct all the expenses associated with running the place.
@@twincherry4958 which means uncle sam is taking 15% of that or at least 500 bucks, then add in bills, other taxes and expenses- its more like 2300 every 2 weeks or 4.5 grand a month..which is about what the average person makes in america-
@@FordFalcon1962nBlue Are you sure that the average person brings in $4,500/month after taxes?
great video. I have to figure something out like this. i literally didnt have money to eat last week and literally went to visit my folks for the weekend just because i knew they would be cooking. i cant continue like this
Watched you for the very first time I liked it I like the content I look forward to seeing more thank you for your due diligence
This video inspired me to check out those 2 sites! So many gold nuggets in this video...Thanks Codie!!!
Woo hoo you should watch the one we did on laundromats and ice vending
I Truly appreciate all this infođThank you
Codie is my modern Warren Buffet mentor today and it's free to learn ....real Diamond !
Nice videos! Although there's a pause button, if you could leave more time to read the text on the screen that would be great. . . plus it extends your content a bit ;)
Thanks for putting out valuable Contant all the time.
Great video. Thanks! Only issue I see with this thesis about the north/south strategy is that I live in Michigan where the state dumps salt when it snows or we get ice storms. Car washes are even busier in the winter, even when it's freezing, so we can keep salt off our cars. So, wouldn't northern states that dump salt be great places to invest in car washes all year around?
Great video Codie. Love this channel. I'm gonna have to fire my boss soon with all the ideas you've provided here.
Thanks for the great video inspiring as always. This is the missing piece, now i know how to acquire and get to the deal. The devil is in the details. The last piece is how to see if a deal is good or the biz is about to go down with me then.
Exactly. Share with your friends tag us and be my best bud forever.
I looked to do this in California for so long. Most sellers told me $1 million minimum. $500k without land included. I guess being in California is my problem.
No, being in California is not a problem. It's a realistic price. And nobody is going seller finance a milllion dollar property. Or even a 150k property. It's just that people male stupid videos on CZcams to get clicks and money. Video was shallow and completely unrealistic. Even on Tennessee she can't buy the land and building and equipment for 150k. Only land is 150k
Deal-making and negotiation can get very creative. Sure, some people can be manipulative, but if both parties didn't like the terms, the deal wouldn't get done. Some interesting content here. Subscribed.
Incredible how inspiring thank u!
Great video. Love your watch .
Love this video!!!!!đđŒđđŒ
I love your idea Codie! Thanks for sharing. I am entrepreneur from Belarus. I have the possibility to implement your idea here. Hope one day I will visit USA and tell you the story how I bought carwash chain
I commented once before but my goodness you are so brilliant. âïž You are very sharp minded and have a great way of communicating. Thank you for sharing your information!!!
I just moved from Dallas to a very small Texas town south of Fort Worth and am looking for something to start up here. Let me know if you have any specific opportunities in mind for small towns. I am in Granbury a lake town. Thank you so much! đ
So much good stuff in this one!
Love this video!!
Liking the content, you got yourself a subscriber.
Codie, you are awesome for sharing this content and knowledge - I had no clue! Thank you from the bottom of my heart!
so the owner of this carwash was making 7400 a month, and this new girl comes in and says can I buy that for you? You current owner 'finance' me the sales price, and I'll give you less than 7400 per month for a limited amount of time, then I'll own it completely and keep the whole 7400 a month and you get nothing. Why would someone sell their business under these terms? This show is clearly Fantasy, pure entertainment, not real... Do not take financial advice.
Too many people fall in love with the top line #'s, when the only one that matters is the bottom line. Gross margin is the only # that really matters in a business.
Insperation. thank you Codie
Yo just found your channel not too long ago lots of good content. Pretty cool that you come from Wall Street, Iâm looking to become a Quant Dev someday. Anyways, youâve got another sub keep up the good work. đđ
You have a mad smoothing voice. I'm just here for the ASMR lol
thanks for the valueable information
Thank you for the comment and sharing!
Love it, thank you
Good for her! Love my car wash and adding more
I just SUBBED to your channel...I look forward to watching all of your videos.
I've watched 3 videos and have become a subscriber! Thanks for the content.
I'm an electrical contractor looking for another revenue stream and something to put some of our money into.
Great content. Why isn't there a link to your CZcams channel on your free newsletters?
I love these videos. Just sub'd to the channel. Just started watching your content this week.
New suscriber to the list whit this amazing video!
What about investing into businesses that also include housing? Purchasing a laundromat with an apartment above it that you yourself can live in or you can rent out? Could you make a video on how to find situations like that?
I may open a laundromat underneath my dad's apartment as he has commercial underneath there
Interested in learning more! Is your Unconventional Acquisition program or the Laundramat Masterclass better suited for beginners?
car washes up north is important during winter to get the salt off your car to prevent rust, part of the reason more cars r using plastic lower on the car.
@codie. u should do a video on this owner of Foxtrot Inn in Coldwater, KS. He runs a few businesses and finance it thru owner finance, give or take. Thank you your video but me seeming a person doing what u show on your video just hit home.
Where would you find card reading machines and who would install/maintain them? I am considering this Codie. Thank you for this content!
Looks like the no money down "creative" financing techniques are starting to be back in vogue. I remember all the late night real estate guys talking about this in the 1990s. The key to her success was it cash flowed positively enough for her to pay back the debt. A simple, yet powerful, rule for any money making opportunity. REITs do this all the time. Borrow at 2% to lend out at 5%. So many models use this.
@Shu baschao
No... The key was, she got lucky and found a sucker desperate to sell and so desperate they financed her.
Great video as always
Ahhhh thanks friend!
One thing you have to point out that wherever you buy the car wash is the place you gotta move in and run, not all of us can afford extra staff
Itâs self serve. If thereâs a maintenance or repair problem you call someone out to fix it.
You are just wonderful !!!
Thank you
great value!
You and Robert Kyosaki have opened my eyes!
Get rich quietly. nice one. Great video. Thanks
Do note that Hannah is working her ass off to keep that car wash fully operational. Definitely worth it, but be prepared to actually work.
try doing this in idaho where buying a little empty lot is like 50-75,000 dollars, buying a used car wash in idaho will cost like..200-300,000 plus for even a run down shanty
A great add one would be to have a small detail bay or tent...the customers are already there to get the car washed...why not add value by offering a service that will clean the interior as well
Great Channel
Love me owner financing. Works like magic especially anything real estate related.
Ok I just Subed I like what Iâm hearing so far
I love you Codie
7400/month is deff not enough after paying rent for the place, soap by the drum is $500-1k, constant fixing those abused machines, and her liability insurance is probably through the roof! still love your awesome channel
You have it all figured out. đ
He's actually telling the truth.
She did mentioned owner was mostly likely at the point of fatigued
She mentioned that it is 7400 after paying the owner while taking responsibility of the car wash. For what she is bringing and vs her opportunity cost it is well worth it. Automobile detergent especially synthetic is very cheap to buy also she probably has deals with certain companies. She also has profit monthly for the ice machine as well as the vending machine on her property. You donât have to constantly fix those machine they are made for wear and tear
In my country with that amount l would be king, l would remain easily with 6500 every month!đ
Hello Codie, i just came across your channel and your brilliant about business! Iâm very close to buy a Washateria and i would like to ask you more about seller financing?
Spending as little as 20 minutes half hour a day searching 7:15. Just funning around đgood video!
Hey Codie, I'm in Tempe what price point would you look for on the car wash or the laundromat?
Great video! You're getting me thinking about new opportunities.
I'm a car guy and I've visited several "self-served" car washes over the year I even yelp them and have a folder which ever city that I may be in now it's time to revisit those and close a deal đ°
How much are the courses? I've found one im interested in just not sure how to go about the sales pitch with 0 down . I've watch many videos.. just don't know the financial aspect of it. Please help