Codie SanchezFounder @ Contrarian Thinking

Do NOT Start These 2 Businesses #shorts

10 Jul 2023 · 1 min

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Codie Sanchez warns against ATM ownership and Amazon FBA. ATMs earn about $560 a month with 1-3% margins as cash use declines. Amazon FBA faces heavy platform control, easy copying by cheap Chinese sellers, and direct competition from Amazon itself.

Questions this video answers

1–3%.

About $560 per month.

Chapters

Two businesses I'd never buy or start backed by data ATM rules. One the profit margin anywhere from 1 to 3%. It's just not enough to scrape by. Two is the actual volume that these companies do. ATMs in general make on average about $560 a month unless you're in a crazy high traffic area. 3 these businesses increasingly are becoming less and less important as we switch to our phones and credit cards instead of cash. The next business is Amazon fba. Amazon does of the work. The problem is Amazon controls everything. Amazon allows for a ton of copycats. Not only do you have to be really good as a business owner in general, but you have to be better than a bunch of cheap Chinese copycats because they are going to come out of the woodwork. And that's not to mention that sometimes Amazon competes with you. It's really important that you choose the right games. These are two businesses that I would not choose.