Stress Test She left school to buy a laundromat: The appeal of ‘boring businesses’
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Oct 29, 2025 Blake Corey, a certified financial planner and president of Venn Wealth Partners, explores the intriguing world of 'boring businesses.' He discusses why young entrepreneurs are drawn to essential services like laundromats and vending machines, emphasizing the flexibility and lifestyle control they offer. Blake shares insights on financing challenges in Canada, potential pitfalls for new buyers, and the importance of understanding hidden costs. He also highlights the appeal and resilience of these businesses and warns about local risks that could impact revenues.
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A Wave Of Businesses Will Be For Sale
- Many boomers plan to exit businesses in the next decade, creating buying opportunities for younger people.
- Meera notes about $2 trillion in mostly mom-and-pop business assets need buyers.
The Appeal Of 'Boring' Essentials
- 'Boring' businesses like laundromats and car washes serve essential, recurring needs that are hard to replace with AI.
- Their steady demand makes them attractive to risk-averse buyers seeking reliable cash flow.
From $500 Machine To $3,000 Monthly
- Alejandro bought his first vending machine for $500 after finding it on Kijiji and cold-calling owners.
- He grew to 10 machines making about $3,000 net per month while spending roughly two hours a week restocking.