204. The Boring Businesses That Print Cash | Upflip Podcast
Imagine going from working warehouse shifts to keep your family afloat to owning a portfolio of over 140 rental units and multiple laundromats. That’s Brandon Turner's real-life story, and it’s one you have to hear. He found a secret most online gurus miss: while everyone’s chasing the same digital dreams, real wealth is hiding in 'boring businesses' with way less competition.
In this chat with our host Ryan Atkinson, Brandon gets super specific on how he built his empire. He walks us through his playbook for buying a business, using creative finance, and setting up brilliant business scaling systems so he only works a few hours a week.
If you're looking for a realistic path to passive income, finding business ideas, and achieving genuine financial freedom, this episode is a total game-changer. It’s your sign to stop scrolling and start building something real.
Takeaways:
- True wealth is often built in "boring businesses" like laundromats and car washes, which are overlooked because they seem like hard work.
- The primary advantage of boring businesses is low competition; it's better to compete with five local owners than one billion people online.
- A single, well-placed laundromat can generate significant income, potentially over $175,000 in net profit per year.
- These businesses are not passive initially. They require significant front-loaded work to establish robust systems and processes before they can run with minimal effort.
- To vet a laundromat location, look for a geographic area with around 7,500 people and a renter population of at least 35%, as customers rarely travel more than a mile.
- Calculate the long-term value of your time. A task that seems menial is worth it if the business's 10-year opportunity averages out to $1,500+ per hour.
- Many aging small business owners haven't updated their processes in decades, creating a massive opportunity for new buyers to modernize and drastically increase profits.
- To learn an industry with no experience, offer to work for free at a local business. Most owners will gladly accept free, competent help in exchange for teaching you the ropes.
- The single most important skill for scaling any business is learning how to effectively manage other people.
- For a business, you can start this weekend for under $500, considering small engine repair. There is a huge demand, and many repairs are simple carburetor cleanings that you can charge $100+ for.
Tags: Passive Income, Entrepreneurship, Business Buying, Investmentjoy, Car Wash, Vending Machine, Business Scaling, Boring Businesses
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