- Cashflow Chronicles
- Posts
- 22 year old earns $7.4K per month from a business she bought on seller financing
22 year old earns $7.4K per month from a business she bought on seller financing
plus what the Great Office Recall means for you...
Cashflow Chronicles
June 23, 2023
Hey there, Cashflowers!
We're back with another stacked issue.
Back with another “boring” business
This week we explore another fascinating case study, unearth the story of a seriously successful entrepreneur and take a sideways glance at the ‘Back to The Office’ saga. Here's what's on the menu:
We're talking about the golden opportunity hidden in your local car wash 🚗💦
We'll look at the inspiring journey of Tope Awotona, a successful entrepreneur who rose above hardships 📈
Finally, we're exploring the Great Office Recall and how A.I.'s reshaping the job landscape 🤖
Ready? Let’s dive in…
Reading Time: 2 mins 53 seconds
Even Celebrities Love This Business Model
22 year old earns $7.4K per month from a carwash she bought on seller financing
Let's talk cars and cash, and no, we're not in a Fast and Furious movie.
Here’s the breakdown:
A country like Canada has about 26.1 million cars and around 3523 car washes.
Even if we assume only a quarter of those cars are used privately and need washing, that's still 1845 cars per car wash.
Then if just a quarter of these car owners take their vehicles for a monthly scrub down at $15 a pop, that's $7K monthly (460 × $15)!
It's like clockwork - only sudsy.
That's why celebrities like Shaq O'Neal apparently owns a ton of car washes. 40 to be precise.
More cars equals more demand for car washes
And it's why an intelligent 22-year-old named Hannah has been able to turn her car wash into a $7.4K monthly goldmine.
She used the seller financing model to acquire the business - without spending a dime of her own money!
Before, Hannah worked 12-hour warehouse shifts, and now, for the most part, she enjoys the passive income of a self-serve car wash. Codie Sanchez has the full breakdown here.
What do you think? Is that your kind of business?
From Rags To Riches
The Incredible Journey of Calendly’s Founder
Tope Awotona, the founder of Calendly, didn't have the easiest start in life.
Tragedy struck early when he lost his father in a violent crime.
Then he moved to the U.S. from Nigeria, navigating a new culture and language. But guess what? None of these challenges stopped him.
Tope worked hard in school, got his degree in computer science, and went on to create Calendly.
He bootstrapped his way to success, turning his frustration with scheduling meetings into a multi-million dollar company.
Tope's story is a powerful reminder that perseverance can turn the tides of fortune.
Alright folks, let's hit pause for a hot second. I have a question burning a hole in my pocket, and I need your help to answer it...
Would you like to see this newsletter explore financial terms and jargon like balance sheet, creating a budget, or maximizing capital?To help any entrepreneur master growth and cash flow in any business |
Back to the Office: The Sequel
The Great Office Recall: A.I.'s Potential Role and What it Means for You 🤖
Employers are more confident this time
Our final stop today is about the news that many workers are being called back into the office, and some are even being given an ultimatum.
Some experts think it's a perfect opportunity for companies to lay off workers who refuse and trim their headcount.
Also, are we seeing the power of A.I. here in the changing workplace?
The power shift seems to be switching from the employee to the employer.
Elon Musk recently made headlines for letting 80% of Twitter's workforce go.
Yet, the company is still running and the waters have calmed. How does that compute? Well, it seems the rise of AI and automation might be the secret sauce.
In this new landscape, traditional job security may be as extinct as the dodo.
More employers are waking up to the fact that a leaner workforce can mean a more efficient one. For example, this telecoms giant is axing 55,000 jobs.
So, what's an office warrior to do?
It's time to start building your skills, cultivating that entrepreneurial spirit, and future-proofing your career. Remember, fortune favours the prepared.
And that's a wrap!
We hope you enjoyed this week's ride. Remember, whether you're washing cars or building the next big thing, the key to success is persistence and adaptability.
If you have topics you'd like us to cover or any feedback, hit reply. We'd love to hear from you.
Until next Friday, keep your dreams big and your ambitions high.
Keep hustling,
The Cashflow Chronicles Team 🚀
Video of the Week
In Case You Missed Previous Newsletters:
Did someone forward you this email?
Thank them for me, and then claim your own free subscription.
What'd you think of today's edition? |