Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses

by Codie Sanchez

INSTANT NEW YORK TIMES BESTSELLER

"...refreshing...concentrates on small ‘boring’ businesses... serves up a recipe to bypass the challenges of a founder by creatively financing smart deals." — Forbes


Rich people know a secret. In this book, former Wall Street investor Codie Sanchez pulls back the curtain.

Most people look for wealth in all the wrong places. From dropshipping and startups to grinding for promotions, you might believe you have to trade your life to be one of the few who win. But the truly rich know these paths are paved with delusion and false promises.

In Main Street Millionaire, Codie Sanchez teaches you the path the wealthy really walk. Instead of risking it all with little chance of success, she shows you how to acquire cash-flowing businesses that are winning right now.

Sanchez, one of the world’s leading small business experts, reveals the dealmaking framework she’s taught to tens of thousands, and that she’s used to build her own 9-figure holding company. Her secret? She acquires overlooked “Main Street” businesses. We’re talking about the unsexy but reliably profitable industries — like plumbing, construction, cleaning, electrical — that white collar workers have overlooked.

In this book, you’ll see practical strategies and step by step processes to acquire cash flow and freedom. You’ll meet humans just like you who have changed their life through ownership.

You will learn:
Why today’s market is ripe for generational wealth creation
How to identify and close amazing business deals, without being wealthy
How to 10x your growth after acquiring a small business
The 7 businesses you should never buy, and why
How to own multiple businesses at once (without losing your mind)

Main Street Millionaire will reshape the way you think about your wealth and ownership forever. However, it’s not for slackers. It’s for those who want meaning and fulfillment while building their community. Codie's no-BS, out-of-the-box wisdom is the antidote to a complacent life of making other people rich. In summary: Your money, and meaning, is on Main Street.

Genres: Business, Finance, Nonfiction, Entrepreneurship, Money, Personal Finance, Self Help

261 pages, Paperback

First published December 3, 2024

About the author

Codie Sanchez is a formidable force in the world of finance, known for her bold, contrarian thinking, financial acumen and entrepreneurial prowess.

Codie’s parents, a special education teacher and a self-made blue-collar builder, taught Codie the value of education and ownership. They inspired her to build her own future.

After graduating early from Arizona State University with a degree in journalism, Codie traveled to Juarez, Mexico to document the atrocities there. Her coverage earned her the Robert F. Kennedy Award for print journalism. It also taught her that people must have financial resources and education to change their future.

That’s when Codie switched from journalism to finance. In 2008, Codie took her first job at Vanguard, right before the financial crisis struck. Once again, she witnessed the devastating impact of financial illiteracy on ordinary people. She dedicated herself to learning how to earn more money so she could help others do the same.

Over the next several years, Codie continued to master the financial world, climbing the ranks at Goldman Sachs, State Street, and First Trust. But she never forgot her blue-collar entrepreneurial roots. She began to buy, build and invest in an array of businesses, like laundromats and cannabis companies, creating a diverse investment portfolio.

Then, after mastering the language of finance, dealmaking, mergers and acquisitions, Codie began empowering and educating others to do the same. In 2020, when a global pandemic brought the world to a standstill, Codie launched Contrarian Thinking, the world’s first free-thinking finance and media company. In just a few short years, Contrarian Thinking has empowered thousands worldwide to take control of their financial destinies and become successful small business owners.

Reviews

[Alexandra · Rating 2 out of 5]

I hate to be the one to tell you this but I don’t think buying small businesses is going to fix the mess that is the United States… It’s confusing to me that this is the end message when this book promotes cheap overseas labour and shockingly low wages to run businesses on your behalf… Wouldn’t an ethical business owner who pays livable wages be the ultimate fuck you to the billionaires who earn their wealth through labour and environmental exploitation??? *sigh*

Also, maybe I’m reading to much into this but if buying businesses is soooo profitable and easy then why is she selling the American Dream via a $2k online course and an annual $10k community membership? Wouldn’t someone with like over 23 businesses be like super busy? Like too busy to spend her entire workday making social media content? And if her businesses were so profitable then why would she spend all her time making social media content? I’m not sure I’m buying what she’s selling…

⭐️⭐️

[CatReader · Rating 4 out of 5]

In Main Street Millionaire, serial entrepreneur Codie Sanchez advises those seeking to quit their daily grind of working for someone else to pivot to a daily grind of working for themselves through the vehicle of buying existing "boring" businesses like laundromats, storage facilities, vending machines, HVAC companies, and cleaning services. She gives practical, step-by-step instructions on how to identify and critically assess promising businesses (hint: retiring boomers), negotiate contracts (hint: seller financing), transition and maintain operations, and eventually sell profitably. She also gives suggestions for partnering with existing business owners who don't want to sell in a way that's profitable for both you and them, by adding value and helping them grow their business in exchange for referral fees and profit sharing.

This is definitely an insightful, unique personal finance book, different from any other I've come across. I don't think I'm the target audience for reasons I won't get into here, but I think this would be a helpful read for those with limited upfront capital and limited lifetime earning potential in their current roles who are hungry enough to seek other revenue streams. I would always advise caution and extensive due diligence before embarking on any of these ventures, including reading other books like those I'll link below and closely considering which path or paths may be right for one's personal circumstances before jumping into this or any other strategy.

Further reading: alternate financial independence strategies
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen (retire early through strategic investment withdrawls)
Meet the Frugalwoods: Achieving Financial Independence Through Simple Living by Elizabeth Willard Thames (quit the rat race thru frugal living)
The Bogleheads' Guide to Investing by Taylor Larimore (invest consistently in index funds)
The White Coat Investor: A Doctor's Guide to Personal Finance and Investing by James Dahle (spend over a decade and probably six figures in debt to secure a high income career, then enjoy the options it brings)
The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas Stanley and William Danko (slow and steady wins the race, but don't flaunt it)
The Psychology of Money by Morgan Housel (develop a healthy relationship with money)
The Sum of Small Things: A Theory of the Aspirational Class by Elizabeth Currid-Halkett (untether yourself from aspirational markers of wealth)

My statistics:
Book 318 for 2024
Book 1921 cumulatively

[Danielle Thomas · Rating 5 out of 5]

This book was exactly what I was hoping it would be. Codie has great content on YouTube and I was hoping this book would dive a bit deeper into how to find a business to buy.

Many self help type books are a lot of filler and this is not one of them! It’s a thorough step by step beginner guide on how to find, assess, acquire, operate and eventually sell a “boring” business. I’ll be reading this one more than once and use it as a reference guide to come back to. I learned so much in the first chapter alone!

It’s also written in a funny, slightly sarcastic at times tone that makes it an enjoyable read - refreshing compared to a lot of books about business. There is a healthy balance of being motivational and realistic - Codie makes it very clear that buying a business isn’t all sunshine and rainbows.

If you’re a beginner to the world of buying businesses, this book is for you!

[Rani Shetti · Rating 1 out of 5]

I was very excited for this book as I’ve been following Codie for years through her newsletter and socials…

However, the book fell so short. It’s VERY BASIC and other than the illustrations you could get all the info for free by following her on social media. Also it just doesn’t have enough details to really help buy a business. It seems more like a long winded sales pitch for her paid courses and “communities”. So instead of sharing that message on your phone she’s sharing it in a book.

In addition I loathed her thesis.
1) Buy a business so it doesn’t get gobbled up by a PE firm or corporate behemoth…Sounds Great!
2) Jack up prices to screw over customers and make some minor improvements
3) After a few years sell said business to…a PE firm or corporate behemoth or anyone willing to pay a bunch of money for it.

So ultimately she is asking us to delay the inevitable of Main Street businesses getting bought and so YOU can be the one to make the money instead of the boomer you bought the business from!

I actually want to stop PE firms from buying these basic business (after working for a big one, wow they are evil and yucky!) but it turned out not to REALLY be her goal at all.

And after spewing all this “down with corporate greed” rhetoric, seeing her cavorting with said “enemies” at the trump inauguration…big turnoff! I’m sure she was once the caring person she claims to be, but now she is just like them! Hate to do this to another woman, I wish her the best on her endeavor, but I will be unfollowing Codie after this.

[nicole anderson · Rating 1 out of 5]

Really wanted to like this, but I didn’t learn anything groundbreaking. Target audience seems to be people with little or no knowledge of business or strategy.

Maybe just me, but I also found the last chapter encouraging readers to join the “war” against corporate America (and all of the war metaphors used broadly) to be tone deaf to the macro political context for corporate consolidation of power in America.

Big business is the result of deregulation and lack of antitrust enforcement stemming from the ‘80s—rhetoric persuading blue collar Americans to “join the fight” against Goldman Sachs by buying small businesses which are not private equity targets anyway does does little than contribute to further class-based polarization.

I think becoming a small business owner is fantastic (I was raised by two of them!). I also think it’s dangerous encourage misdirected anger to the symptom (decline in blue collar jobs/wages), rather than the cause.

[Levi · Rating 5 out of 5]

Okay, so Main Street Millionaire absolutely blew my mind. I picked it up because I follow Codie Sanchez on Instagram and YouTube and thought, "Why not" since I always find her content really inciteful and powerful. Turns out, the hype is real. This book is packed—like, absolutely stuffed—with useful advice, and it’s written in a way that makes you feel like Codie’s your really smart, no-nonsense friend who’s finally telling you how to stop being broke. I was genuinely impressed.
The RICH framework she lays out was a game-changer for me. It’s simple, but brilliant, and it got me thinking about boring businesses like laundromats and car washes in a totally different way. Like, I’d never thought about how much money you could make from something so "normal" if you just knew how to run it and buy it.
I loved that Codie keeps it real. She’s not sitting there saying, “Follow your passion.” But, Look at the numbers, figure out what works, and don’t waste your time. It’s practical, it’s straightforward, and that was refreshing. By the end of the book, I had so many notes and ideas, I didn’t even know where to put it all.
Definitely recommending this to all my friends and family.

[Logan · Rating 1 out of 5]

Main Street Millionaire is full of sweeping generalizations and overly simplified scenarios. More than once, the author walks readers through hypothetical timelines of buying a business, layering on imagined revenue streams, and then celebrating how those projections supposedly triple the sale price down the road. It all feels theoretical rather than practical.

A few points in particular gave me pause. First, she discusses hiring workers at $40k/year or outsourcing overseas for far less. While that may make sense on a spreadsheet, it feels ethically questionable. If you’re buying a local “Main Street” business, shouldn’t the goal include investing in the community, paying a fair living wage, creating stability for employees, and strengthening the business long-term? Instead, the book focuses almost exclusively on made-up financial models untethered from reality.

Another red flag: despite mentioning that she has bought and sold many businesses, she never walks the reader through a single detailed success story in the book. When I looked further into her background, I found that her only verifiable ventures appear to be two small media companies registered with FINRA. That disconnect raises doubts about the depth of her experience.

Finally, the book frequently plugs her company, Contrarian Thinking, which markets itself as a “community” offering talks and access to professionals to help you buy a business……at a price tag of $10,000. That comes across less as education and more as a sales funnel.

Overall, Main Street Millionaire reads more like promotional material for her brand than a serious, experience-driven guide to business ownership. If you’re looking for practical, step-by-step advice grounded in real-world examples, this book will likely disappoint.

[Rich McCleary · Rating 5 out of 5]

Full of great blueprints for buying, running, and selling businesses. Really appreciated the war stories that Codie sprinkled throughout the book. Nice side benefit of some great marketing tips. Must read for anyone who is serious about business ownership and management.

[S · Rating 5 out of 5]

I’ve been wishing Codie would write a book for years on her methods and how someone like me could get into buying boring businesses with no/minimal money down. I was so excited when this was released. As many high expectations as I already had going into the book, she exceeded all of them by far. Codie my dear, I love you for this book.

Are there some basic concepts in this book, that those of us who have read many entrepreneurial books and followed Codie and others for a while will already know? Sure, of course there are, the newbies need this information too. Reading even the more basic concepts in this book served as an excellent reminder of the foundations, and not to overcomplicate things.

I felt like I had to force myself to put this down so that I would properly absorb each nugget of wisdom, when in reality I wanted this book glued to my hands. This is definitely a book I will be reading a second and third and maybe even a fourth time, so that I can absorb every genius word of it.

The information in this book is unmatched, truly. The value is insane. Codie covers every single detail from how to buy, how to finance, how to hire, and how to grow. This is basically the Bible for buying and owning profitable businesses that are capable of changing your life. To that point, I am confident the information in this book will change my life once I start applying it, and I can’t say that for just any book I read.

Thank you thank you thank you Codie (and team). Thank you times a million. I am so grateful for this book and what’s to come in my future, and the futures of all the others brave enough and crazy enough to buy some boring businesses. Let’s get to work.

[Meghan · Rating 4 out of 5]

A business book but a lot of the principles can be applied to life, " I can think, I can wait, I can fast".

[Sean O’Reilly · Rating 5 out of 5]

Such a good book that Codie Sanchez might be my new role model

[Therese Merkel · Rating 5 out of 5]

Really loved the audio version of this book read by the author, Codie. Her passion and intensity (in a GOOD way) makes the book so much more captivating.

Content wise, this is a book with a LOT of tangible learning points,especially if you are looking to buy or sell your business.. which is a very niche group of people. however, it also had a lot of tangible learning points for someone growing their own existing business. Lots of technology upgrades, reflection points, process improvement opportunities, and ways that you can increase the value of your business (currently and for the future)

Truth be told though, I am most inspired to write this review bc Codie said she reads every one ;) so, HI Codie, would you be a guest on my podcast?!!! It’s called Screw It, Let’s Do This, and it’s ALLL about entrepreneurship. You would be a dream guest 💋💋 @trickyfoods on IG to chat 👀

[Mikayla Ockey · Rating 4 out of 5]

If you have followed Codie Sanchez at all you know that she is the go to person for buying a boring business (plumber, car wash etc) I think if anything this book convinced me not to buy a business right now. It started out with all the excitement and hype but as the book went on she definitely showed how much work and commitment it would take. Not passive at all. Very thoroughly written and if I decide to someday go this route or find someone who is interested in this method— this book would be a great place to start.

**language

[Will Ortmayer · Rating 4 out of 5]

Very accessible and engaging, a great introduction to buying a small business. Got me excited about the process and introduced quite a few new ideas to me. Felt a little over simplified and sale pitch-y but I am also aware that’s exactly what makes it the good things I just listed.

[Chinedu Okonkwo · Rating 4 out of 5]

This book felt like I was having a normal conversation with Codie. However, this book caters more to intermediate- or expert-level entrepreneurs and not necessarily to newbies starting with their first vending or ice machine.

[Miguel]

For all I know Sanchez manages multiple small businesses as effortlessly as she describes in this tome, but it seems that her goal toward ever greater wealth is rather to sell the ideal of this scheme. "Buy a boomer's business, get someone else to run it for you, and rake in the dough!" (Hit the red 'That Was Easy' button on the desk.) This just came across as snake-oil salesmanship. Can some people follow her blueprint? Sure, but likely at the rate of which all small businesses succeed in the US - which is not a heart-warming number. This is not to discount entrepreneurialism in general, but rather not in this comically short and thin-on-detail overview.

[Kristin Sanderson · Rating 5 out of 5]

Best Book in its Category

I’ve read every book I can find on buying businesses, and this one stands out. In plain spoken English, Codie gives so much actionable advice that I’ve decided to purchase the Audible version as well so I can listen to it again while I’m in the car. There’s just too great info much to ingest in one reading. Excellent book.

[Peter Murto · Rating 5 out of 5]

Loved this book! Codie does an amazing job breaking down the step by step process to acquire your own business. I really appreciated how she gives tangible resources to achieve each step and dives deeper than just high level theories.

[Constantinos Middleton · Rating 4 out of 5]

Identifying, buying and operating boring businesses for dummies.

[Sri Goverdhan Sambhari · Rating 5 out of 5]

Are you looking for a straightforward path to build wealth outside the traditional 9-to-5?
Do you want to learn how to acquire small, cash-flowing businesses as a strategy for financial independence?
Are you curious about the practical steps to evaluate, purchase, and grow businesses in overlooked industries?

Key Takeaways from Main Street Millionaire by Codie Sanchez

Shift in Wealth Mindset: Codie advocates for thinking like an owner rather than a worker, emphasizing the potential of owning simple, cash-flowing businesses to build generational wealth.

Unsexy Businesses Shine: The book highlights the value of "boring businesses" in industries like vending, laundromats, or landscaping, which are often ignored but provide consistent returns.

Practical Acquisition Strategies: Codie shares actionable advice on identifying businesses for sale, negotiating deals, and securing financing without significant upfront capital.

Focus on Systems, Not Hustle: Rather than endless effort, the book encourages setting up systems and processes to allow businesses to run with minimal owner intervention.

Case Studies and Insights: Real-world examples and case studies are included, providing inspiration and practical lessons from entrepreneurs who have successfully followed this path.

Risk Mitigation Tips: Codie explains how to assess risks, avoid common pitfalls, and make informed decisions when acquiring a business.

Building Community: The book underscores the importance of networking and mentorship, emphasizing collaboration over competition.

Worth a read for every aspiring and current Small business owners.

[Charles Reed · Rating 3 out of 5]

55%

Yeah, so it's odd because there's intelligence and hyper intelligent. And then there's hyper unintelligent, and we're somewhere between hyper unintelligent and just regular Intelligence here. Because A lot of the stuff is bullshit. I mean, she tries to make it sound like, yeah, it's a passive business, but then she tells you about all these other things You have to do and, and then the whole premise was, you know, don't be buying a job. It's like, Then, why are you telling me about all these things that I need to do because it sounds like you're trying to tell me to go buy a job, which is fine for some people. If you're interested in meeting that operator, that's why I say, though, if you're really interested in running a business, you have to run interested in running to business. Okay, that's what one of my old baskets. And He said, you know, if you're not interested in Running the business, you're not gonna like it. So, you just shouldn't do it, And that I took to heart, because, Uh, here in the hotel, And I was, like, oh, okay, Right? He've sold that too, And This or somebody just different contradictions in here. It's like she's talking to first time business buyers, but at the same time she's using jargon and a lot of things that only people would understand if they've actually been Business ownership for a while. Like, I wouldn't have understood what she was talking about a lot of areas if I hadn't been experienced business owner. But That's not what we're good. Here We get a bunch of weird insights, and that's what I actually like about this, because it's like, huh, I really never thought about it this way, and it's what you're describing this interesting. Is it valuable though? Um, Not like a less. I have a lot of time to spare and a huge team that's ready to just go and manage businesses, Which, uh most, small business owners dealt. And they won't, Because that's something you do. If you're a large multi-conglomerate owner, She's like, it sounds like she's trying to get people to, uh, On franchises on the hook.

[Tom · Rating 4 out of 5]

I’m getting frustrated working in corporate America, so I read this book to learn if business ownership might be the answer.
As per my rating, I’m now 80% (4 out of 5) convinced that it is.

I read this book after reading many other personal finance books. They all say: Own. Scalable. Assets.
> Own = You’re the majority owner. You’re in control of your own destiny.
> Scalable = Make your wealth a function of Price * Quantity (not time, i.e. working 9-5). You can increase P and Q; you can’t increase time.
> Assets = Cash Flow as your income (from a business or another investment).

Main Street Millionaire goes further than most all of these books and provides tactical advice on how to buy a business that can buy you your freedom from the rat race. And yes, Codie does explain just how hard this is.

I was hoping the book would be an end-to-end how to guide which could alleviate my fears for ‘taking the leap’ into business ownership. And the book does generally do this:
(R) how to find the right business for you
(I) how to do (or to hire people to do) your diligence
(C) how to run the business (or to hire people to run it)
(H) hoe to scale the business
TLDR: the answers are to have help, to have structure/process, and to have determination.

However, there are 2 things I find incomplete in this book, and they are both regarding the (I) Investment section:
(1) Timing - yes, it’ll vary deal by deal, but when should I get lawyers and accountants to help with DD? When should I be interviewing and bringing in operators? When should I create a C-corp / LLC when searching? Etc…
(2) Costs - how much will I spend on lawyers, accountants, brokers, advisors (such as the MSM community)? The down payment for the business may be just a fraction of your cash needs…
Perhaps these topics are too mundane, but I’d love to know!

Beyond these 2 points, the book is beautifully tactical given its length. Codie recommend specific systems and processes, provides frameworks, and many examples. These really enabled me to think as a buyer and to imagine what it’ll be like.
Read this and you’ll be convinced that buying a company is possible.


——
I want meritocracy, not bureaucracy.
I want reward for hard work, not pats on the back and single digit bonuses.
I want to be excited by solving problems, not to have a full calendar of planning meetings.

If you’re having these thoughts too, then I whole heartedly recommend this book!

——
@Codie - you said you read all comments. I’d love to hear from you (or your team)!

[Samuel Milligan · Rating 5 out of 5]

Hey Codie! If you’re reading this review like you say you do on page 256, I just wanted to let you know that you’ve written an excellent book. I have been learning about small business m&a for the last 9 months from different resources and this book seemed to fill in a lot of gaps in knowledge that I was missing before. It’s given me confidence to go and get deals done right now!
I started my first business just over a year ago (construction/roofing) and have grown it to $4M in sales (started in may 2023) . I boot strapped the entire business and now that we are hitting our growth curve I want to add acquisitions as strategy/growth lever. Again, your book has helped me get there! I’m located in Pittsburgh, and doing some very unique things in the roofing/construction space so if you would ever like to connect email me at sam@cnsconstruction.io

Thanks again for the great read

[Jessica Gutierrez · Rating 5 out of 5]

Wow. As someone who grew up in a very low income household with a single mother, the idea of being wealthy and owning a business is so completely foreign, and for the longest time didn’t even seem possible. But I’ve always had a yearning to be a business owner, ever since I was a child. This book makes me feel like it’s possible. Codie provided so much information in this book that I feel an excitement in my chest and an anticipation for what’s next. She made me believe it can really happen for me and my husband and our family. I truly believe this book is going to be the spark that ignites the change for us, and provides a better future for our daughters. If you read this, thank you so much Codie!

[AJ · Rating 4 out of 5]

Have a dream of business ownership but need clear path forward? This is the book. Having followed Contrarian Thinking for awhile, looked forward to the book and was not disappointed. Steps from what business is right for you to an eventual exit strategy. This road map gives hope that you can do it too.

[Jayde Reece · Rating 5 out of 5]

The language of business might as well have been mandarin to me before Codie and this book. In Main Street Millionaire, Codie elaborates how the broke Joe Blow can become a Main Street warrior on the front lines against Wall Street cannibals. Codie doesn’t just tell you to chase your dreams, she shows you how to find the right pair of shoes and how to tie your laces.

[Melanie Rogan · Rating 5 out of 5]

I have had a massive girl crush on Codie for years now, and this book has just solidified my one-sided relationship with her, hands down. Best thing you will read this year. It could even change your life - if you let it.

[Mike · Rating 5 out of 5]

Five stars! Sanchez breaks down building "boring" businesses into achievable steps. While clearly aimed at the US market, the principles are gold. Her writing is fluent and accessible, making it easy to digest. I'm excited to adapt her strategies for my non-US context!

[Jack Nelson · Rating 5 out of 5]

I loved how tactical Codie was throughout the entire book. Even if you don’t plan to acquire a local business, this book is super high-value for M&A at a beginner/intermediate level. Thank you Codie!

Plus- Codie gives a ton of bonus value in the online tools and appendix.

[Nick Shea · Rating 4 out of 5]

Written with a very personable tone and does a great job inspiring entrepreneurs to buy and grow small businesses. Gives some good tips on how to find the business, how to run it, and how to sell it.

I read this after listening to her speak on DOAC, very insightful and charismatic.