Codie SanchezFounder @ Contrarian Thinking

DON'T IGNORE THIS STATISTIC #shorts

6 Sept 2023 · 1 min

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0:54

Over 10,000 baby boomers retire daily, and 8-10% own small businesses. Codie Sanchez bought 26 "boring" businesses using a seven-step playbook: upgrade their online presence, raise prices, add subscriptions, expand services. Sellers can hit 2-3x exit multiples in three years.

Questions this video answers

Over 10,000 boomers retire every day.

8 to 10%.

26 boring businesses.

Seven steps.

Sell for 2 to 3× more in three years.

Chapters

This one statistic is going to lead to generational wealth and everybody's ignoring it. I don't think you should. Over 10,000 boomers retire every day. 8 to 10% of them own a small business. That creates a problem and yet also a massive opportunity. Millennial or Gen Z kids like us want to be YouTube stars. They do not want to take over a plumbing company even if that company is doing millions of dollars in profits. I capitalized on this by buying 26 boring businesses. There's a seven step framework that I use to buy these businesses explicitly. Step 1 you buy a small business. Step 2 you use outside money or seller financing. Step 3 you add a website social reviews. Step 4 raise your prices. Step 5 add a subscription option. Step 6 offer more services to the same exact clients. Step 7 buy a competitor and repeat the cycle. Then you sell your business for 2 to 3x more in three years after following those seven steps.