6 Businesses That Never Fail According To Codie Sanchez

Before anything else, this is the link to Codie Sanchez’s YouTube Video titled: “Businesses that Never Fail? 6 Businesses with Amazingly Low Failure Rates [Backed by Data]”.

The reason why I’m making a review of this video is because as Codie Sanchez has stated, her information is backed by data. This is a definite confidence booster to anyone who wants to consume her information because at least they know she’s not making up facts.

Another thing to consider is that Codie Sanchez is a finance influencer and a famous one. When I searched for reviews of her video, I already found several articles mentioning this specific YouTube Video. It just means that her video is trending.

And I can see why. Who won’t be interested which kinds of businesses are almost immune to failure or of going bankrupt. This is because we all know that in reality most businesses fail very early in their career and most never thrive at all or are merely getting by.

Codie Sanchez has an impressive resume which not only commands respect but trust in terms of the subjects of investment, finance, entreprenuership, and social media. She has done them all.

The website Under30CEO describes her as: “Codie Sanchez is an Austin-based entrepreneur, investor, and influencer. She is the founder of Contrarian Thinking, a media platform that teaches investing and financial independence.”

“Codie has amassed a following of over 800,000 on TikTok, 200,000 on Instagram, and 110,000 email subscribers.” This is no small feat for a woman who seems capable of doing it all.

She has also started a venture capital company named: Contrarian Thinking Capital and raised $2.2 million in two days. I highly suggest that you check out her profile on the above link. I’m sure you’ll be amazed and inspired at what this woman can do.

Codie Sanchez’s video may be a little fast paced and you might have missed a few important things from her video. But of course one of the most important details of video are her data sources.

So let me refresh you in case you missed these details. In the beginning she states that most business fail at a certain rate according to the US Bureau of Labor. Regarding this data, I’m confident. Government data is one of the most factual statistics information out there.

She also mentions the US Chamber of Commerce in her Laundromat Business Segment. This is another trustworthy source as chambers of commerce are one of the most representative and factual group in any industry.

She failed to mention her source for her data regarding her real estate statistics. In her self-storage industry statistics her source was an industry website who used data from Bloomberg, In her trucking industry statistics, she used AdvisorSmith.com.
For her vending machine industry statistic she used an industry website as well as the US Bureau of Labor. Both gave conflicting statistics. She didn’t mention any statistics or sources for her Healthcare Industry Statistic. I guess its up to her viewer to accept her sources or not.

According to her, the laundromat business has a 93% chance of success citing the US Chamber of Commerce as her source. I’m confident regarding her source of data. As I have said, chambers of commerce are one of the most reliable source of industry data.

I can also attest that I know of several laundromat operators in Australia and the Philippines thriving if not succeeding with their businesses. And I can see the reason why. The cleaning industry is an evergreen industry.

This means there would be a forever demand for cleaning services which includes cleaning clothes. As a single person, I did a cost analysis as to whether I would wash my own clothes or have them done in the laundromat.

What I learned astounded me. Laundromats are actually competitive cost wise against self-cloth washing done at home. Of course my analysis is for the single persons market which is fast rising in numbers.

It is to be noted that she has a separate video regarding the laundromat business in the US. If you’re interested in the business especially if you’re an American, I suggest you watch her video about it.

Codie Sanchez mentioned a statistical success figure for her real estate industry segment analysis. However, since she didn’t mention the source, I’ll leave it out and let you decide if you would accept her analysis.

But I can definitely say that real estate is one of most resilient if not successful business you can create. This is because there is actually a shortage of real estate and houses are getting expensive because of it.

As a result, more and more people especially single people become long-term renters unable to save on a downpayment for their own real estate. This is a lamentable situation but an opportunity as well.

You could buy real estate and lease it out to people who are unable to buy their own real estate. You can even start out small by leasing a portion of your house like a room or a storage space.

My mother is involved in real estate leasing and while it hasn’t made her a millionaire it brings in sufficient income to pay her bills and then some. My experience comes from both living in Australia and the Philippines where one is a first world country and the other a developing one.

Codie Sanchez was a bit fast when she showed the industry website of her source statistical data for the self-storage industry. Nevertheless, she was able to highlight that the industry website uses data from Bloomberg.

Everyone familiar with Bloomberg knows that it is the biggest business and finance media company in the world and has a high trust rating when it comes to business and finance data. According to Bloomberg, the self-storage industry has a 92% success rate.

And I can see the reason why. The global courier and logistics industry continues to grow as global trade increases. This is especially true in the age of e-commerce where e-commerce companies have even resorted to buying mega-warehouses just to improve their logistics.

E-commerce companies and the sellers who sell at these sites are also in dire need of storage space to store their inventory. Add to the fact that many people now would rather hold on to their old items with the idea of selling them later.

Living in both a developed and a developing country, I can definitely attest that the self-storage industry is also fast growing in developing countries, namely the Philippines. The local high storage fees are a proof that there is high demand for them.

She mentions a US small business service website called advisorsmith.com . Being a non-American I’m really not familiar with this website. I tried to search for any trust rating regarding this website but so far have been unsuccessful.

She stated that a trucking business or more specifically a short haul trucking or passenger service has a success rate of 76.4% depending on the particular type of business. I’m inclined to say that she doesn’t have full details of the trucking business but I leave the decision to you.

But I can’t really blame her. The short haul trucking business is such a diversified business. The cargo can either be people or goods of which the type of goods are almost infinite in variety. Think about courier boxes, cakes, statues, mechanical parts and so on.

It also doesn’t help that at least in the US heavy duty pickup trucks are now being customized to carry container storage boxes which only full-sized cargo trucks used to do. But I do believe in her when she said that the trucking industry is a huge industry.

This is where it gets interesting. She cited two sources for her statistical data. According to her first source which is the website dropsvending.com , a vending machine businesses which also contains vending machine industry data.

According to the website, a vending machine business has a 90% success rate. Compare this to her second source which is the US Bureau of Labor which stated that businesses in the industry have only an 82% success rate.

Her figures might be confusing but at least she gave us two alternative statistical figures for us to decide on which to accept. But let me give you an additional data from Yahoo which is also a provider of business data among others.

Yahoo stated that the global vending machine industry is stated to grow at a CAGR of 9% reaching $130 billion by 2032. As an Australian I can also attest that data from the Australian Vending Machine Industry reported that the industry was growing at 42% annual rate.

These statistical figures are good indicators of the viability of a vending machine business. As Codie Sanchez states: “A vending machine business might not make you very rich but it could bring you good money.”

In terms of healthcare, she was actually speaking about aged health care which is prevalent in many developed countries as well as developing ones. She failed to mention an industry statistic nor a source but I can tell you what I know of the industry as an Australian.

If you Googled: “age care industry market size in Australia,” the search results wouldn’t give you specific statistical data but would rather state that the industry at least in Australia is growing at a healthy pace.

I regularly monitor industry news in Australia and I can attest to the fact that the Australian government has significant subsidies in the aged care industry. In fact, it is one of Australia’s star industry.

And how do I know? This is because several Australian aged care providers have diversified their services and have gone international. One of the biggest markets now for Australian aged care services is China which is already the second largest economy in the world.

To be honest, I was pleasantly surprised when I knew this. I never knew that aged care service can become an international business but Australia has proven otherwise. Maybe you reading this now can do the same.

So, this is my take or review of Codie Sanchez’s video together with my additional information adding in international facts and data. Personally, I think the video was well made but I wish that the statistical data sources were more solid not that they aren’t.

Let’s not also forget the fact that there is no certainty in business. You might be in the statistical losing end if you’re not careful. As Codie Sanchez has advised herself: “Don’t come to a situation where a single business move have the ability to wipe out your years of gain.”

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