Exposing the 6 Businesses That Never Fail (And 7 Ones That Are Better)

In this video I review the commonly known "low failure rate" businesses. Spoiler alert: they suck. As a seasoned CEO and a veteran in buying, selling, and starting businesses, I've experienced both the highs and lows of the entrepreneurial journey.
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We constantly see lists showcasing businesses like laundromats, self-storage facilities, and transportation services. But the truth is, I don't want to own any of these businesses. In this video I share my personal insights on why these businesses, despite their low failure rates, might not be the best options due to high capital expenditures, operational challenges, and risk factors.

Let me introduce you to what I like to call "nice life businesses" - business models that not only have reasonably low failure rates but also offer a great work-life balance, low capital requirements, and sustainable growth potential. From niche consulting to real estate private equity, I break down each business type, explaining why they're worth considering and how they align with long-term financial and personal goals.
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00:00 Introduction
01:04 Low Failure Rate Business
01:29 Laundromats
02:59 Self Storage
03:38 Transportation
04:21 Rental Property
05:18 Vending Machines
06:18 Senior Care Centers
06:59 What Are Nice-Life Businesses?
07:33 Niche Consulting
07:56 Digital Agency
08:55 Franchise Owner
09:50 Real Estate Private Equity
10:43 Staffing Firm
11:46 Commercial Real Estate Broker
12:45 Financial Planning

[eaconley]

Thank you, Michael, for this insightful video. I appreciate your perspective on which businesses to avoid and the reasons behind those recommendations. Your approach of highlighting the capital risks in commonly perceived 'safe' businesses is valuable.

[infini.tesimo]

11:31 not true. People are definitely looking for jobs, just not low paying, abusive, and unbalanced work life jobs. For example there's a lot more people clicking on job postings for remote opportunities than in office even if the pay is slightly lower. Why? They save on fuel, pointless trips while out and about, hours in traffic, etc. You did good having a staffing firm specifically on remote jobs but let's not get it twisted here because people don't want to go back in an office if they can avoid it and also have the skills to do it.

[NewAgentHQ]

These are jobs not businesses. Self employment is different than true business ownership.

[parkerpkthn]

Most content on the web is crap. It's low thought content that regurgitates what has been said already mostly to try to generate SEO.

[dancestepper]

Hi Micheal you never start a new business you can buy a established business and get the business owner to give you owner finance on the business