Codie SanchezFounder @ Contrarian Thinking

One Business I Would NEVER Buy...

28 Aug 2023 · 1 min

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0:30

Codie Sanchez explains why she would never buy a dry-cleaning business due to costly environmental liabilities. She cites that the average U.S. dry cleaner produces about 650 gallons of hazardous waste per year and describes two remediation risks: indoor vapor contamination (costing roughly $5,000–$30,000 to fix) and soil/groundwater contamination (costing roughly $500,000–$1,000,000+).

Questions this video answers

About 650 gallons per year.

Approximately $5,000 to $30,000.

Approximately $500,000 to $1,000,000 or more.

Chapters

What type of business? I would never buy dry cleaners because of this one word called remediation, which basically means that dry cleaners are really toxic. The average dry cleaner in the US gives off about 650 gallons of hazardous waste a year. You have two types of remediation. You have to clean up. There's this vapor that comes off your clothes with the dry cleaner, and that's really bad for employees. It can cost you five to $30,000 to fix. And the second type is if it gets into the soil and groundwater, that could cost you half a million to a million plus. You got to make sure they're boring businesses, but not dirty businesses.