How I Turned One Laundromat Into 24 Overlooked Businesses Making Tens of Millions — and You Can, Too Here's why following my playbook could be your ticket to financial freedom — and saving America's local small businesses.
By Codie Sanchez Edited by Frances Dodds
This story appears in the November 2024 issue of Entrepreneur. Subscribe »
I 'll never forget the day I bought a laundromat, nearly a decade ago. It was my first real step toward financial freedom.
As I turned the key and shoved my shoulder into the jammed door, I paused to breathe it all in. That sweet smell of detergent...and mold. Aah! Then the doubts flashed through my mind: Codie, WTF have you gotten yourself into? You know nothing about washing machines. You barely do your own laundry! I batted the thoughts away. For better or worse, everything was about to change — because I had a theory, and I was putting my own money down to test it.
Here's the big idea: Buying Main Street businesses is the most underrated path to wealth. If you do it right and are willing to put in the work, it can not only pay you enough money to quit your job, but also allow you to pay someone else to run it with you. By Main Street businesses, I'm talking about small, local businesses that involve minimal intellectual property and provide a needed product or service — like car washes, laundromats, vending machines, storage centers, repair shops, pack-and-ship centers, and more.
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