My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
The 'easy passive income' businesses promoted on social media (laundromats, car washes, etc.) are either lies or represent a massive opportunity arbitrage
The Reasoning
If these businesses were truly as easy and profitable as claimed, sophisticated operators would have already captured all the value
What Needs to Be True
- The returns are actually much lower than claimed
- The work required is much higher than portrayed
- There are hidden complexities not being disclosed
Counterargument
These businesses do provide steady cash flow but require significant capital and hands-on management
What Would Change This View
Meeting multiple people who truly have hands-off laundromat businesses generating claimed returns
Implications for Builders
Focus on digital/scalable businesses if you have those skills
Be skeptical of social media business advice
Understand the full cost structure before entering physical businesses
Example Application
“Before buying a car wash franchise, calculate true time investment including management, maintenance, and customer service requirements”