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Codie Sanchez

@Codie_Sanchez

May 3, 2021 • 17 tweets • 5 min read • Read on X

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He makes $15k a month off plants?

Maybe PLANTS should be your next biz? Or wait for our plant tax credit play manana 😱

How to profit off plants (the legal kind 🤫):

U.S. house plant sales have increased by 50% in the last 3 years.
- collective spending value to a whopping $1.7 billion!

A $250,000 tree? Weird flex…
Apparently, mega-cars are so 2009, today = boujeeiest of zen gardens.
- WSJ says there’s an entire lux market for finding old cool trees, buying them, then shipping them to mansions & hotels.

Can you buy tree futures??
- I'm sure gonna check my land for trees I can sell before I ever have to cut one again.
thoughtco.com/trees-for-sale…

Saw this trend first hand at my local nursery doing what apparently all us chicks do, buy some mfing succulents.

- I wanted this guy: The Staghorn Fern.

So I looked at the price tag…
IT WAS $6,000 DOLLARS.
LIKE U.S. DOLLARS.
Like 3 ETH.
WTF?

Turns out the Staghorn isn’t alone:

Why? We Millennials are weird:
1. People are waiting to have kids or just don’t want kids. I mean parenting during a pandemic 😶
2. Prefer renting over owning (“preference” ahem “priced-out”).
3. Nature ain't cheap... Home Depot = camp ground.

Secrets:
- You can buy 1 plant, get anywhere from 5- 25 cuttings (baby plants) a year.
- Where else do u buy 1 product and it produces other products for you to profit off of?
Check out these #'s:

Marcus Kirby was a server at a Chicago Native Foods.
Now?
He’s the founder of Succulent City, a houseplant store raking in $15K a month
- 70% profit margins

Here's the How: First Where to Sell?
Option 1: Etsy- get high-quality pics, research to make sure prices align w marketplace & double down on good branding/descriptions

Option 2: Launch website & leverage IG/ FB ads. Marcus makes $15k/month w/ just 7K IG followers.

Fiddle Leaf Fig it To Me:
Not all houseplants are created equal.

- Most popular are low maintenance which translates to low light and watering needs
- OR - special hard to find ones - that go for 10's or $$$

Hop on google trends....

Margin Increase:
Set yourself apart and justify a higher price easily by pairing your plants with a trademark planter box or arrangement style.

Marcus sells unique planters, increasing his order size & margin.

How do I find these fing golden plants??
1 - Grow yourself.
First batch from nursery/seed then propagate & multiply stock. Easy to learn on YT

2- Buy in bulk from growers.
Essentially dropship plant selling. Could be a local nursery w full-grown plants or seedlings

Regulations + shipping is a b*tch
Understand what your shipping restrictions
- vary from state to state AND from plant to plant
- (another good reason to limit your product options)

USDA has a nifty chart

Ship it To me:

1: Ship yourself (FedEx has a packing guide for plants.)
Few things to remember:
Plants need to breathe
Waterproof bags
Fragile disclaimer
Extra cushioning

Option 2: Outsource through drop shipping services or partner w grower

Doesn't matter if you're a stay-at-home parent looking for some extra cash or a serial entrepreneur, this is a space RIPE for disruption and new hustles to emerge.

Don't let Silicon Valley have all the fun (3 startups raised $100M+)

Also, we're dropping a thread a day for the next 30 days (generally on cash-flowing business ideas) so make sure to SMASH that follow button so you don't miss ANY of these

And check out my newsletter, link in bio ;)

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More from @Codie_Sanchez

Codie Sanchez

@Codie_Sanchez

Dec 18

How to spot a scam...

They promise "passive income."

Here's the problem with passive income (and what you need to build instead):

I've spent my career investing in & buying biz's.

First at huge investment firms, then on the side, and now for my own funds.

And there's a truth I need to share with you:

Passive income is a myth.

If money for nothing was real, wouldn't everyone be doing it?

In reality, generating "passive" income ALWAYS requires significant work upfront.

Take real estate:

Read 21 tweets

Codie Sanchez

@Codie_Sanchez

Dec 17

I learned the secret to wealth building.

It isn't crypto, a trust fund, or a startup.

It's a simple framework that could transform broke people into millionaires.

Here’s the unsexy but effective path to wealth (Evolutionary Wealth Theory):

If there’s this great secret, why aren’t more people screaming about it? If it’s so simple, why don’t more people do it?

Because it’s boring, it’s hard, and it’s slow.

Scott Galloway sums it up perfectly:

“I can get you rich, that's the good news. The bad news is, the answer is slowly.”

Plenty of tactics could get you rich.

Startups. Stock investments. Real estate.

But if your mindset & skills aren’t aligned, none of those strategies will work.

That's where the Evolutionary Wealth Theory comes in... There are 4 levels:

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Dec 14

70% of people live paycheck to paycheck.

This will not be you and I.

Here's exactly how I manage my personal finances (The Personal P&L):

Track Your Money

It all starts here.

This may be the SINGLE most important thing you can do for your finances.

Treat yourself like a business. I use a Personal P&L (profit & loss).

If you aren't tracking, take this sheet now:
contrarianthinking.biz/3VswGFE

Do a COA Analysis

COA = Course of Action

I break down different scenarios to see how it impacts my bottom line.

What if I got a $10K raise? Started a side hustle? Cut my eating out budget in half?

Seeing the numbers always motivated me to take action to grow my wealth.

Read 16 tweets

Codie Sanchez

@Codie_Sanchez

Dec 12

This guy is an MD who swears you can heal yourself with an animal-based diet.

I asked him about the parts of our food supply making us unhealthy and fat.

His answers surprised me.

Here’s what he said:

First… HOW did it get this bad?

Why is everything slowly killing us - and can we stop it?

Turns out, food research is old, funded by pharma, & wildly difficult to modernize.

Paul Saladino is hopeful RFK Jr can start to turn the ship around.. but it's a big ship:

Seed Oils

You've probably heard seed oils are "bad for you." But do you know why?

- "Canola" isn't even a real thing
- Seed oils like canola were originally used as ENGINE lubricants

The picture Paul paints will give you chills:

Read 11 tweets

Codie Sanchez

@Codie_Sanchez

Dec 11

Crypto. NFTs. Sports bets. Dropshipping.

Stop thinking you’ll get wealthy by jumping on the next trend.

Give yourself better odds, do this instead:

This Bezos quote will re-wire your brain.

Amazon, titan of innovation, did not use a strategy based on trend-guessing.

Instead, they focused on certainties:

- People will always want low prices
- People will always want fast delivery
- People will always want a wide selection

The problem is, betting on timeless principles feels slow.

- It’s not sexy.
- It won’t win you hype on social media.
- It might even look stupid at first.

But over time, it creates unstoppable momentum...

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Dec 10

How to stay poor:

1. Never take risk.
2. Take risks you don’t understand.

If you want to buy a profitable business, here are 9 ways to protect your downside:

All you can do with risk is mitigate it.

You can never remove it entirely.

The best deal is a bad deal avoided.

Here are 9 quick tips on how to spot a deal you should avoid…

1. Simplicity = green flag

I sat down to do DD for a multi-million dollar deal. The owner had some impressive spreadsheets & projections.

But when I asked to see the tax returns?

Bottom line was, the business didn’t make money.