Key insights

• 💼 Following the right data can increase the chances of business success
• 🏋️ Gyms have a high failure rate due to lack of business focus and strategy
• 💵 ATMs face challenges of low margins, declining cash usage, and high initial investment
• 💰 Consider ATM ownership for a profitable side hustle, Avoid dry cleaning businesses due to soil contamination and remediation costs, Hotels have thin profit margins due to high expenses and require 24/7 support
• 📈 Running a business comes with challenges such as high costs, limited customer interaction, and platform risks
• 📦 FBA businesses have a low success rate, high competition, and customer divorce
• 🚚 Last mile delivery in the trucking industry shows promise with a 76.4% success rate
• 🏠 Investing in rental properties and laundromats offers potential high returns, with landlords making an average of $97,000 a year and laundromats having a 92% success rate

Q&A

• How can one potentially increase profits in businesses like laundromats, and what is essential for success?

  Adding extra revenue streams like vending machines and delivery services can increase profits in businesses like laundromats. Careful consideration of logistics and technology implementation is essential for success. Additionally, the video advocates for the value of small businesses on Main Street and encourages viewers to subscribe for more insights.

• What are the advantages of last-mile delivery, senior care centers, and real estate rental properties?

  Last-mile delivery is expensive but in high demand, senior care centers benefit from government subsidies, and demographic trends, while real estate rental properties offer tax advantages and have a high success rate.

• What are the challenges faced by retailers and restaurants, and what alternative business shows promise?

  Retailers and restaurants face challenges such as financial difficulties, intense competition, and high failure rates due to customer retention issues. However, last mile delivery in the trucking industry shows promise with a 76.4% success rate.

• What challenges are associated with running franchises like hotels or Amazon FBA businesses?

  Running franchises, such as hotels or Amazon FBA businesses, comes with challenges such as high costs, limited customer interaction, and platform risks. Additionally, Amazon FBA businesses face a low success rate, high competition, and customer divorce.

• Why should one consider ATM ownership over dry cleaning or hotels for a profitable side hustle or small business?

  ATM ownership is preferable due to reasons like low success rate and challenges faced by dry cleaning businesses and hotels, including soil contamination, thin profit margins, and complex operations.

• What are common reasons for businesses, such as gyms, to fail?

  Gyms have a high failure rate due to lack of business focus and strategy.

• 00:00 Many entrepreneurs are afraid of failing, but following the right data can increase the chances of success. Gyms have a high failure rate due to lack of business focus and strategy. ATMs also present challenges such as low margins, declining cash usage, and high initial investment.
• 03:19 If you want a profitable side hustle or a small business, consider ATM ownership rather than dry cleaning or hotels. Dry cleaning businesses can have soil contamination issues, while hotels have thin profit margins and can be complex to run.
• 06:31 Running a business, especially franchises like hotel or Amazon FBA, comes with challenges such as high costs, limited customer interaction, and platform risks. FBA businesses have a low success rate, high competition, and customer divorce. Retail stores face high failure rates, declining user base, negative float, and unpredictable inventory.
• 10:19 Many retailers and restaurants face high failure rates due to financial challenges, intense competition, and customer retention difficulties. However, last mile delivery in the trucking industry shows promise with a 76.4% success rate.
• 13:45 Last-mile delivery is expensive but in high demand. Senior care centers benefit from government subsidies and demographic trends. Real estate rental properties offer tax advantages and have a high success rate.
• 17:12 Investing in rental properties and laundromats offers potential high returns, with landlords making an average of $97,000 a year and laundromats having a 92% success rate. Adding extra revenue streams like vending machines and delivery services can further increase profits. However, careful consideration of logistics and technology implementation is essential for success. The video emphasizes the value of small businesses on Main Street and encourages viewers to subscribe for more insights.