i see so many young guys posting on twitter about their success buying failing or inefficiently run businesses, especially ones like mobile home parks, convenience stores/gas stations, self storage facilities, and the like. They talk about how they buy them, make them more efficient (using automation and cheap labor in the philippines), and then sell them or keep them running for cash flow. These guys like to post their results and numbers, which always seem to be too good to be true.
I find it unusual that they post their actual results, but the numbers look compelling. These business experts are widely followed and admired, but I believe they use these tweets to drive traffic to their websites, where you can subscribe to their newsletters (which makes them $), and pay them $1,000 for a one hour phone call. It feels like people reading their posts become more interested in buying their own self storage facility, gas station, or similar, and would be able to justify paying the “experts” $1,000 for an hour of time.
How do I know if they are for real, or if these posts are an engineered lead gen/content marketing strategy to lead people to pay them for their time, or subscribe to their newsletters? Is this a growing trend?
Most self storage and convenience stores are bought as a single owner to work as a job. Make a decent living and be their own boss. A large majority are ones who get visas and got loans to start a business or buy.
Because of this they aren’t ran as efficient as possible. Most take large salaries and become lazy so don’t make major repairs.
They take a business where an owner is making 100k/year and automate it so they make 50k/year “passive”. The reality is they work a lot to manage that passive income because businesses like these aren’t large enough to pay for management staff, accounting and everything else.