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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

Oct 9

The richest business owners I know all have one thing in common:

They built their business to sell it from Day 1.

Here are the 14 ingredients that turn any business into an asset someone will gladly pay millions for:

1. Exit-based goals

The first step to building a sellable biz - start with the end in mind.

Most founders think they’ll run their biz forever, then burn out and sell under pressure. Instead, plan the exit early so you sell on your terms.

My own framework for Contrarian Thinking:

Once you’ve set your goals, the next step is knowing what your biz is worth.

Most small businesses sell for a multiple of revenue or profit - think 2-3X profit for a laundromat or car wash… versus 10X+ for a tech company.

Your job is to nail down three numbers:

1. What your biz is worth today
2. What you want it to be worth
3. The plan to close that gap

The rest of these steps will help you do that…

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Oct 1

The most underrated superpower in business:

Attention.

I recently broke down how anyone can break into content on Jon Youshaei’s podcast.

9 nuggets everyone who wants to build a personal brand should steal:

The Rule of Thirds

Most people think creating content is a dream job. But the reality is:

- 1/3 of your time will be exceptional (you'll love what you do)
- 1/3 will be neutral (manageable, but unremarkable)
- 1/3 will be challenging (demanding, exhausting, overwhelming)

It's a continuous cycle.

When you're in the difficult phase, remember the next phase is coming.

The 3x3 Rule

The creators who burn out are those without systems.

They have to reinvent the wheel with every piece of content they create.

If you want sustainable output, use the 3x3 Rule:

If something has more than 3 steps AND you do it more than 3 times, document it as an SOP.

Read 5 tweets

Codie Sanchez

@Codie_Sanchez

Sep 27

Every week, we do live deal reviews in our business buying community.

And recently, we dissected a $2.6M offer for an accounting firm.

Here’s the breakdown (and how we determined whether it was a winner or a loser):

Here’s what the deal looked like:

- 3 locations
- $1.7M revenue
- $730K SDE
- Recent roll-up with zero integration

The seller had been busy buying up smaller practices but never actually combined them.

That means they’d be buying 3 separate entities, not 1 unified business.

I should mention that this isn't some first-time buyer gambling their life savings.

The buyer already runs a multi-site accounting operation and has closed 5 acquisitions in the space. They know exactly how to fold in offices and implement systems.

More importantly, they see the geographic play:

Read 11 tweets

Codie Sanchez

@Codie_Sanchez

Sep 17

I recently turned 39.

Here are 39 brutal truths I wish I knew at 20:

1. Choose your hard. If you don't choose your hard, hard will choose you.

2. Ask more questions. As Socrates said: “Smart people learn from everything and everyone. Average people learn from their experiences. Stupid people already have all the answers.”

3. Do whatever it takes

4. Chase purpose. A friend once told me: “I wish you not one penny over $299 million. Reality gets lost somewhere after that.”

5. Not every moment has to be productive. Silence is not your enemy.

6. Be bored more often

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Sep 16

The smartest youth are losing faith in traditional education.

And I don’t blame them.

Here’s why MBAs are rapidly declining in value:

(*and a breakdown of the “DOJO” model that’s replacing $100k+ degrees)

When Stanford GSB students say things like this, you know we've hit rock bottom.

That's one of the top business schools in the world being criticized by its own students.

If elite institutions are failing, what does that say about the rest?

Everyone loves to cite networking as the value of traditional education.

"It's all about the connections."

But technology has enabled new distributed networks that don't cost $250k.

The network effect is now a diminishing value proposition.

Read 16 tweets

Codie Sanchez

@Codie_Sanchez

Sep 6

Wall Street has one rule:

Never start what you can buy.

Here’s everything you need to know about buying a biz in 2025 (full guide):

While 90% of startups fail, 80% of acquisitions survive the first year.

88% of people worth $30M+ have done at lease one acquisition.

That means the best way to get rich isn’t to start a business like they love to tell us.

The best way to wealth with the highest degree of certainty is through acquisitions.

The average small business owner in the US is 67 years old. When you’ve run a business for 10+ years, you're bound to be exhausted.

These owners are motivated to sell by what I call the 7 D's:

- Departure
• Divorce
• Disease
• Disagreement
• Distress
• Death
• Dullness

They’re desperate to exit the game but don't know how. That’s where YOU come in.