No one should worry about s corps or llc until your buisness turns profit or you need a legal entity for payment processor it's just a way of lowering personal liability and you can file the paperwork at through your state and state website save money.
Starting an LLC or S Corp after reaching profitability or needing liability protection is sensible, but early formation has benefits too. An LLC offers liability coverage and simpler management, while an S Corp can lower self-employment taxes for higher income. Consulting a professional ensures you choose the best fit as your business grows.
Using pre-tax contributions in an LLC or S Corp can reduce taxable income during high-earning years, while post-tax contributions like Roth options can ease taxes in retirement, creating a balanced tax strategy.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
A cool trick I learned from my Jeweler. Have the first interaction/employee (your newest employee hopefully the customer doesn't know) figure out your name, that gets passed on to management, their database produces... What you purchased and when, as well as who and what you talked about... They really add notes about what you talked about, kids, pets, sports, job, whatever. Then they come back and talk to you about your previous interactions "Like They Remember You." I understand what they are doing, but I absolutely love the effort. Really sells the repeat customer.
Codie, I don’t know if you’re interested, but I started painting address numbers in Fort Worth about a decade ago as a side hustle and built it to over $100k a year. I can send you my info if this is something you’d want learn more about. I’d love to collaborate as I am looking to start getting into some content creation.
That title is a little clickbait. I know lots of painters and that’s not an “easy” business to own. If you want to be successful you have to work your butt off.
PLEASE realize while this "is possible", this is not the norm. My dad has been a painter for 40 years, most of which self employed and has always been dirt poor. Painting is a good side hustle but if your looking for a easy scalable business, this is not it.
He's absolutely passionate about what he does, very knowledgeable and responsible with what he does too - gotta add that to the mix. You can see that this time he was working alone, and doing it all by himself, he learned A LOT, and that his team now is formed by people that are nothing less knowledgeable and responsible than he is. It's clearly a big company, with the specialist's eyes of his owner over it all the time.
Some great numbers in here and tips for existing painting contractors! Love everything about this. We usually leave flyers in the mailbox of adjoining properties with our numbers to contact us if there is debris etc. This video has inspired me. Team is going to start door knocking tomorrow 😉 not as scary as one thinks. Let’s go!
Ive been a painting contractor for 38 years .Every scene of him painting hes doing it wrong! you dint just roll in the middle of a wall .you roll from top to. bottom .when you do a $5300 job you dont make $5300??no one pays $500 a day for a painter .Its very competitive.codies a TH-camr not a business person!
This video is true. When I was a kid I made about 300 a day. I never knew how to scale it or run a business so thought it would be better to be a teacher. But if I would have known about business I would be totally rich.
Hi @gunheadchicka, If you need a website, I can help you with that. I’m a website developer specializing in creating and optimizing websites for businesses. I’ve developed websites for small businesses and create custom solutions tailored to specific needs.
Insurance for $150-$200/month for a CREW?!! That doesn’t look right. My latest quote for a worker’s comp for painter rate is $0.30/$1 payroll. If you pay $20/hr in payroll for each painter, that’s $48/day/each employee! That’s either straight up lie or I’m getting ripped off so badly! I’ve been in this business since 2020 and I can assure you that the numbers in How Much Does This Cost part are not accurate at all.
@@joyceashby8821 yeah you’re right! Thanks for clarifying. However, he’s forgetting to mention one of the biggest expenses of this business! Either intentional or non-intentional.
Hey Codie i love your videos and especially this one thanks for doing it because i am a professional painter trying to do the same thing 😅😊 hope to be able to sell my business on someday also !
I watch her videos too, most of her ideas I've watched won't work in my country, so I take the action points that will be applicable to the business I have in mind
yeah i know someone that did that and died of leukemia. Maybe the painted in the 80's was more toxic I assume? he did not make that much but then hired Mexicans to do the simple things and he did the more advanced things. But then again tattoos cause a 21% increase in leukemia as well, but the person I knew didn't have. In short it all luck since for every 1 person that makes it another 10 or 100 do not despite doing the same thing sine not everyone can be on top. just like the NBA their can only be one winner in the playoffs.
I work for this company. You can take out a loan and you don't need to know how to paint. We have all the training you'll need to run the business. Let me know if you have any other questions.
The website needs fixing. Blogs - page not found. Reviews takes you to the top of the page you're on or other pages. It's not coded right. The same for Terms & Conditions. Not a good first impression. Pass.
Hi Codei, I hope you’re doing well. I’m reaching out to ask if you could help me connect with people who need a website. I’m a website developer specializing in creating and optimizing websites for businesses. I have experience developing sites for small businesses and offer custom solutions tailored to specific needs. I’ve gained a lot of valuable information from your videos. Keep up the great work! 👍
Hello from Belgium. Thank you for your great information , for which I created a separate folder in my Outlook I'm a Gen X Canadian-Belgian mum of 2 daughters (28 & 10) expat (college drop out) working for the EU in Brussels as a PA but I'm fed up with working for a massive bureaucracy. I'm not rich by ANY stretch of the imagination, but although I'm no longer young, I REALLY want to start a business like a laundromat....hopefully several - but I must out money aside ... but time is not on my side. I know your target audience appears to be mostly the younger US generation but I sincerely would drop EVERYTHING if you agreed to mentor me on my quest to be an after-50 (I'm 55) millionnaire in the south of France. This would be my ultimate dream...and you might even open up a new following among people from my generation over here! I am not joking : I would drop my job tomorrow for such an opportunity!
Hey, I can totally relate; I’m in the same boat. It would be nice if she would mentor you but I just don’t think it’s practical. Her time is worth much more than what you can offer her. I’m sure she gets thousands upon thousands request a year. It’s just not possible. But I’ll tell you something: You have all resources you need to get started. The resources are embedded deep down within you! You’re the answer, my friend. You don’t have to be great to start but to be great you have to start. I’m 50 years old and I’ve always wanted to be my own boss. I’m scared to death that I’ll fail. And my limited beliefs are what’s holding me back. All the negative things you tell yourself aren’t true. You don’t have to be special or super smart. You’re enough just the way you are. You can do it!
I‘d love to see this working in EU! I‘m from germany. Love this content too! 😊 but most of the time i‘m thinking: in europe (EU, or at least in Germany) it wouldn‘t be easy to start such businesses, because there are so many regulations. To start a painting business here (in Germany, don‘t know for sure if it‘s the same for all EU) you need a 3 year trainingship and a a masters craftman, what will take about 1 to 3 more years. But i‘d love to see, what businesses could work over here. 😌 is this challange hard enough for you, Codie? ☺️👍😅
@@MadEggs, no I’m not a mentor. I think it’s about having a vision, a plan and then taking action. You can hear, watch all the motivational talk, podcasts and TH-cam channels you want but still having done nothing. You can do it. Immigrants flock to Europe, Canada, the, Australia and the United States all the time and make their dreams into a reality. I’m sure you see it all the time, right? Are they better than you? No. In addition, they have so much more to overcome, for example, learning the language, training etc. Bro, whatever it is you’re thinking about, you can do it!
No one should worry about s corps or llc until your buisness turns profit or you need a legal entity for payment processor it's just a way of lowering personal liability and you can file the paperwork at through your state and state website save money.
Starting an LLC or S Corp after reaching profitability or needing liability protection is sensible, but early formation has benefits too. An LLC offers liability coverage and simpler management, while an S Corp can lower self-employment taxes for higher income. Consulting a professional ensures you choose the best fit as your business grows.
Using pre-tax contributions in an LLC or S Corp can reduce taxable income during high-earning years, while post-tax contributions like Roth options can ease taxes in retirement, creating a balanced tax strategy.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. Do you have any?
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
A cool trick I learned from my Jeweler. Have the first interaction/employee (your newest employee hopefully the customer doesn't know) figure out your name, that gets passed on to management, their database produces... What you purchased and when, as well as who and what you talked about... They really add notes about what you talked about, kids, pets, sports, job, whatever. Then they come back and talk to you about your previous interactions "Like They Remember You." I understand what they are doing, but I absolutely love the effort. Really sells the repeat customer.
My three favorite channels: Codie Sanchez, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
Codie, I don’t know if you’re interested, but I started painting address numbers in Fort Worth about a decade ago as a side hustle and built it to over $100k a year. I can send you my info if this is something you’d want learn more about. I’d love to collaborate as I am looking to start getting into some content creation.
We own a drywall and painting business and this video is very accurate!
Thank you Codie, having been a Painter for nearly 12 years- this gives me new imputus...and thank you to all the vets in the comments🙏🤙
That title is a little clickbait. I know lots of painters and that’s not an “easy” business to own. If you want to be successful you have to work your butt off.
When they say easy not business is easy but this is much more obtainable for most people then alot of other options
Exactly right - tough business indeed.
PLEASE realize while this "is possible", this is not the norm. My dad has been a painter for 40 years, most of which self employed and has always been dirt poor. Painting is a good side hustle but if your looking for a easy scalable business, this is not it.
If it’s easy the market is saturated. immigrants undercut you. i’ve painted as a handyman and it was never really worth it.
He's absolutely passionate about what he does, very knowledgeable and responsible with what he does too - gotta add that to the mix.
You can see that this time he was working alone, and doing it all by himself, he learned A LOT, and that his team now is formed by people that are nothing less knowledgeable and responsible than he is.
It's clearly a big company, with the specialist's eyes of his owner over it all the time.
Some great numbers in here and tips for existing painting contractors! Love everything about this. We usually leave flyers in the mailbox of adjoining properties with our numbers to contact us if there is debris etc. This video has inspired me. Team is going to start door knocking tomorrow 😉 not as scary as one thinks. Let’s go!
Great video
Ive been a painting contractor for 38 years .Every scene of him painting hes doing it wrong! you dint just roll in the middle of a wall .you roll from top to. bottom .when you do a $5300 job you dont make $5300??no one pays $500 a day for a painter .Its very competitive.codies a TH-camr not a business person!
Thanks Codie, love your approach and info!.
Codie you are so versatile gifted in many areas nothing you can’t do 😂
Evidently, he only does interiors. Exteriors are a much bigger PITA, especially if there is minor damage or sanding needed.
Insurance Companies would be another R they have to rebuild and restore after leaks,disasters,mold remediations.
This channel is awesome!
Such an inspiring video... it's fascinating how paint can change a room...and make it look amazing...paint is a job that's always high in demand...
So how did he start with 12 bucks?
This video is true. When I was a kid I made about 300 a day. I never knew how to scale it or run a business so thought it would be better to be a teacher. But if I would have known about business I would be totally rich.
Thank you Codie I want to do this to get a company vehicle. Eventually working my way out of it and employing others.
How does a painter take care of wood rot, without replacing the rotten wood??
Bondo
Have a question about labor cost, $300 daily it’s total expense for w2 or 1099? Thanks
Omg Codi ty 😊 I like your style look and remind me of my sister
So close to starting a business. I think if I watch a few more videos, I'll be confident enough to start.
Action over watching my friend. Confidence comes from doing.
@@FTDsWithAsh I'm a shy introvert. I'm working on it.
Hi @gunheadchicka,
If you need a website, I can help you with that. I’m a website developer specializing in creating and optimizing websites for businesses. I’ve developed websites for small businesses and create custom solutions tailored to specific needs.
@@Freelance-Expert cool. I will keep that in mind.
100% you should start your biz
Thanks Codie💪🏼🙌🏼🙌🏼💪🏼
You’re S Rockstar !!!
What about businesses that don’t require that much physical work?
Insurance for $150-$200/month for a CREW?!! That doesn’t look right. My latest quote for a worker’s comp for painter rate is $0.30/$1 payroll. If you pay $20/hr in payroll for each painter, that’s $48/day/each employee! That’s either straight up lie or I’m getting ripped off so badly! I’ve been in this business since 2020 and I can assure you that the numbers in How Much Does This Cost part are not accurate at all.
pretty sure he's talking liability ins not payroll
@@joyceashby8821 yeah you’re right! Thanks for clarifying. However, he’s forgetting to mention one of the biggest expenses of this business! Either intentional or non-intentional.
Ya gotta love turning $12 into millions! Way to go:)
Oh shit!!!! Let’s go! Found him
Happy customers 🎉 so important.
It’s the only thing that matters!
You do acquisitions of businesses. How did you buy this company?
Hey Codie i love your videos and especially this one thanks for doing it because i am a professional painter trying to do the same thing 😅😊 hope to be able to sell my business on someday also !
thankgod. finally a video not about pressure cleaning lol
It makes money tho
@@OnlyPanss theres many ways to make money. pressure cleaning is not so easy as she explains it. in melbourne australia. it rains half of the year lol
and you have indians willing to pressure clean a drive way for $50 aud lol its hard to compete with that. when market price is destroyed
You have tons of competition especially in big cities.
Codie, what 25 businesses do you own?
Not going to it looks like Codie was having fun in this one!😂 Great video 🤙🏽
😂 the brush holding part had me rolling. I wanted to go in there and hold the brush myself
Wow Beautiful Codie... Salutes U All Guys Awesomeness
Because of you i am close to lunching (Kingo Services) in UK 🇬🇧
We love this!
Great Video ❤
good video!.
Cons: high level of competition
Almost everything worth doing is highly competitive. Repairing people’s picture frames for example is a very low competition but also very low demand.
The cost of winning is to overpay 🔥🔥🔥
The That 1 Painter shirt is sick. Where can I get one?
Screenshot this video and post it on your IG story telling me why you liked the video and I can hook you up👍
I keep watching your videos but I never get a feeling "Yeah, I could do that"
I watch her videos too, most of her ideas I've watched won't work in my country, so I take the action points that will be applicable to the business I have in mind
You need a c-33 in California
May I know what is c-33 ? I am going to buy this franchise in California
yeah i know someone that did that and died of leukemia. Maybe the painted in the 80's was more toxic I assume? he did not make that much but then hired Mexicans to do the simple things and he did the more advanced things.
But then again tattoos cause a 21% increase in leukemia as well, but the person I knew didn't have.
In short it all luck since for every 1 person that makes it another 10 or 100 do not despite doing the same thing sine not everyone can be on top. just like the NBA their can only be one winner in the playoffs.
Yes 💯
All these people that do all this hard labor work in these videos seem to never be dirty.
They look like they are just paid actors moving around on a movie set. 🍿 🎥
She should do an Only Fans business model next ❤❤
9:48 "Can i show you how to hold a paintbrush" 😂
It was harder than it looks😅
Painting is not recession proof either .Its a luxury not a nescessity !
Its a valuable upgrade to every home/ living space.
That’s why one of his 5R’s is Real Estate Agents.
it is recession proof if you pivot to multi-family during the down turn.
Yeah, but its Texas.
Are you really holding a 9in roller and talking about efficiency?
I sure hope he painted you like one of his French girls.
She said "Size does matter. 😉" 😂😂😂
Relax Brandon. She definitely wasn't talking about you 😉
Getting into his franchise would be great if I had the money or know how to paint
I work for this company. You can take out a loan and you don't need to know how to paint. We have all the training you'll need to run the business. Let me know if you have any other questions.
@@micahdanielricksI’m interested
Don't do it. You don't need to pay franchise fees to start a successful painting business.
11:18 dock that guy's pay for loafing with his phone. 😜
The website needs fixing. Blogs - page not found. Reviews takes you to the top of the page you're on or other pages. It's not coded right. The same for Terms & Conditions. Not a good first impression. Pass.
300 dls for paint no way , that's not right
Hi Codei,
I hope you’re doing well.
I’m reaching out to ask if you could help me connect with people who need a website. I’m a website developer specializing in creating and optimizing websites for businesses. I have experience developing sites for small businesses and offer custom solutions tailored to specific needs.
I’ve gained a lot of valuable information from your videos. Keep up the great work! 👍
Nice to comment first here. 😅
College pro painters biz model. Nothing new here.
I like cody she is not one of these woman who complaines o i broke a nail or hardwork no way i admire her for not giving up
Great business. One of the downsides is entitled Karen's for whom NOTHING you do is good enough. How do you handle that?
You move on to the next house 🏠🏡
I bet your ex is kicking himself losing you
Amy God bless you with your good work beautiful queen help me bless me with m
Grat
so funny ... the "Painter" does not even know how to roll a wall (:
Hello from Belgium.
Thank you for your great information , for which I created a separate folder in my Outlook
I'm a Gen X Canadian-Belgian mum of 2 daughters (28 & 10) expat (college drop out) working for the EU in Brussels as a PA but I'm fed up with working for a massive bureaucracy.
I'm not rich by ANY stretch of the imagination, but although I'm no longer young, I REALLY want to start a business like a laundromat....hopefully several - but I must out money aside ... but time is not on my side.
I know your target audience appears to be mostly the younger US generation but I sincerely would drop EVERYTHING if you agreed to mentor me on my quest to be an after-50 (I'm 55) millionnaire in the south of France.
This would be my ultimate dream...and you might even open up a new following among people from my generation over here!
I am not joking : I would drop my job tomorrow for such an opportunity!
Hey, I can totally relate; I’m in the same boat. It would be nice if she would mentor you but I just don’t think it’s practical. Her time is worth much more than what you can offer her. I’m sure she gets thousands upon thousands request a year. It’s just not possible. But I’ll tell you something: You have all resources you need to get started. The resources are embedded deep down within you! You’re the answer, my friend. You don’t have to be great to start but to be great you have to start. I’m 50 years old and I’ve always wanted to be my own boss. I’m scared to death that I’ll fail. And my limited beliefs are what’s holding me back. All the negative things you tell yourself aren’t true. You don’t have to be special or super smart. You’re enough just the way you are. You can do it!
And one day you’ll become the mentor for others that are 50 and above. Why can’t it be you? Go for it!
I‘d love to see this working in EU! I‘m from germany. Love this content too! 😊 but most of the time i‘m thinking: in europe (EU, or at least in Germany) it wouldn‘t be easy to start such businesses, because there are so many regulations. To start a painting business here (in Germany, don‘t know for sure if it‘s the same for all EU) you need a 3 year trainingship and a a masters craftman, what will take about 1 to 3 more years. But i‘d love to see, what businesses could work over here. 😌 is this challange hard enough for you, Codie? ☺️👍😅
@@jbissaintheok. This is so motivational🥰 are you someones mentor? 🤷🏼♂️🫣😅
@@MadEggs, no I’m not a mentor. I think it’s about having a vision, a plan and then taking action. You can hear, watch all the motivational talk, podcasts and TH-cam channels you want but still having done nothing. You can do it. Immigrants flock to Europe, Canada, the, Australia and the United States all the time and make their dreams into a reality. I’m sure you see it all the time, right? Are they better than you? No. In addition, they have so much more to overcome, for example, learning the language, training etc. Bro, whatever it is you’re thinking about, you can do it!
Don't you need a contractor's license?
Every state has its own rules. No license is required in my state.
hello queen help me bless me with some money
80 million wtf
$12 and a blank check from daddy