{"id":19585,"date":"2025-01-09T15:42:05","date_gmt":"2025-01-09T15:42:05","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/565-codie-sanchez-from-wall-street-to-washing-machines\/"},"modified":"2025-01-09T15:42:05","modified_gmt":"2025-01-09T15:42:05","slug":"565-codie-sanchez-from-wall-street-to-washing-machines","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=19585","title":{"rendered":"#565: Codie Sanchez: From Wall Street to Washing Machines"},"content":{"rendered":"


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\"\"When Codie Sanchez worked in finance, she wasn\u2019t planning to buy a laundromat. But facing 60-70 hour workweeks and realizing she didn\u2019t want her boss\u2019s job, she started looking for an exit strategy. Instead of buying a fancy car during her \u201cmidlife crisis,\u201d she purchased that first laundromat \u2013 a decision that would lead her to acquire multiple laundromats, car washes, and other local businesses.<\/p>\n

Codie joins us to break down how regular people can buy and run profitable local businesses, even without previous ownership experience. These \u201cMain Street\u201d businesses \u2013 think laundromats, car washes, landscaping companies, and other local services \u2013 often generate steady cash flow without requiring complex technology or massive scale.<\/p>\n

She shares eye-opening stats about business ownership in America: while 80 percent of Americans owned a business in the 1800s, today that number has dropped to just 6 percent. Meanwhile, private equity firms have increased their ownership of small businesses from 4 percent in 2000 to 20 percent by 2020.<\/p>\n

But there\u2019s good news for aspiring business owners. Codie breaks down 21 different ways to finance a business acquisition, from seller financing to equipment loans. She explains that 60 percent of businesses sell with some form of seller financing, making ownership more accessible than many realize.<\/p>\n

Want to avoid common pitfalls? Codie introduces her RICH framework:<\/p>\n

\u2013 Research:<\/strong> Define what type of business fits your goals and skills<\/p>\n

\u2013 Invest: <\/strong>Get skin in the game, but never risk bankruptcy<\/p>\n

\u2013 Command: <\/strong>Use systems and metrics to avoid accidentally buying yourself a job<\/p>\n

\u2013 Harness:<\/strong> Build toward bigger goals if desired<\/p>\n

She emphasizes starting small \u2014 master one business before attempting to build an empire. A successful acquisition requires understanding the \u201croadmap to making money\u201d \u2013 the 5-7 key steps that drive profit in any business.<\/p>\n

The numbers tell an encouraging story: while 90 percent of startups fail within 10 years, small business acquisitions have a 75-95 percent success rate. Codie attributes this to buying proven business models rather than starting from scratch.<\/p>\n

Perhaps most importantly, she challenges the notion that \u201cboring\u201d businesses can\u2019t generate serious wealth. From a roofing company founder becoming one of the world\u2019s wealthiest women to a garbage collection entrepreneur building a billion-dollar enterprise, Main Street businesses have created numerous millionaires and billionaires.<\/p>\n

Want to learn more? Check out Main Street Millionaire<\/a>.<\/p>\n

Timestamps:<\/u><\/strong><\/p>\n

Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.<\/em><\/p>\n

0:00 Introduction<\/p>\n

2:54 Codie shares story of buying first laundromat while in finance career<\/p>\n

10:42 Defines main street businesses as local services like landscaping and car washes<\/p>\n

17:11 Breaks down private equity\u2019s growing acquisition of small businesses since 2000<\/p>\n

34:31 Reveals why successful owners keep \u201cboring\u201d but profitable businesses quiet<\/p>\n

41:58 Lists creative ways to finance business acquisitions<\/p>\n

48:20 Emphasizes importance of dealmaking education before buying<\/p>\n

55:45 Introduces \u201ccheetah vs house cat\u201d framework for identifying operators<\/p>\n

1:03:05 Compares in-person vs remote work effectiveness<\/p>\n

1:06:45 Warns against accidentally buying a job instead of a business<\/p>\n

1:18:38 Shows power of metrics and dashboards in business management<\/p>\n

1:27:41 Outlines strategies for building business empires<\/p>\n

1:34:55 Highlights wealth potential in basic service businesses<\/p>\n

\"listen\"subscribe<\/a><\/p>\n\n

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