6 BORING Businesses that Always Make Millionaires (90% success rate)

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Making hundreds of millions of dollars is not complicated. In fact, I would argue it’s as simple as finding a boring business that you’re willing to commit to. I’m David, CEO of Filterby, an air filter company that generates $22 million a month. Every day, I’m flooded with hundreds of boring businesses to invest in, and I’ve written million-dollar checks to a few. In this article, you’ll learn the most important concepts and business models to make billions from boring businesses. We’ll focus on two types of cash flow businesses: property-oriented businesses and service-based businesses.

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Property-Oriented Businesses

Property-oriented businesses are appealing because they’re often seen as an easy way to generate passive income. Here are my three favorite examples:

1. ATM Business

An ATM business can generate anywhere from $1,000 to $100,000 per month with just a few hours of operation. In some cases, people have turned $2,000 investments into millions. Paul Alex, a retired San Francisco police officer, started his ATM business in 2018 to supplement his income. He purchased his first ATM for $2,100 and installed it in a nail salon, generating $500 in monthly profit. Encouraged by the results, he expanded to over 30 ATMs nationwide by 2021, earning over $10,000 a month in profit. Today, his company, ATM Together, generates over $8 million a year and helps others start their own ATM businesses.

What made Paul successful? He didn’t go all-in initially, keeping his day job. He started with a specific opportunity at a nail salon where he knew the owners. When he expanded, he did so gradually, growing from one to two, then four ATMs. The keys to success in the ATM business are location and maintenance. If an ATM runs out of cash or breaks down, it stops generating revenue, and you’re responsible for fixing it. Building the infrastructure to maintain machines and secure prime locations is critical.

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2. Laundromats

Laundromats have a 95% success rate, nearly double the 50% national average for most businesses, according to industry publications. They seem like the ultimate passive income opportunity: find a good location, install machines, and collect money from customers. However, if it sounds too good to be true, it often is. Laundromats require ongoing maintenance, a safe and clean environment, and, most importantly, the right location. While they’re a great entry point for new entrepreneurs, scaling requires more capital than most realize, which can be a downside.

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3. Equipment Rental Business

I discovered the potential of equipment rental businesses when our air compressor broke at our Salt Lake City plant during a critical time. Unable to get a replacement for three weeks, I found a local rental company that provided a diesel air compressor for $500 a day, allowing us to keep operations running. This experience highlighted the opportunity in equipment rental. Companies nationwide need equipment they don’t have on-site, and if you have it in stock and ready to go, they’ll pay a premium to rent it.

This business is also tax-efficient. For example, if you buy equipment for $100,000 and rent it out for $60,000 in a year, you can write off the full $100,000 against your income, making the $60,000 tax-free. With manufacturing likely to increase in the U.S. due to tariffs, the equipment rental business is poised for growth. However, it requires maintaining equipment and managing logistics to deliver it to customers promptly. Start small, learn the ropes, and expand gradually to minimize risk.

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Service-Based Businesses

Service businesses require less capital to start and have greater upside if done right. If you skip college and go to trade school, I believe service-based businesses, like those in the HVAC industry, are one of the smartest ways to become a millionaire.

1. HVAC Services

A few years ago, I partnered with a friend from Goldman Sachs to start Filterby HVAC Solutions. Service businesses are capital-light but require knowledge and systems to scale. If you lack funds, attend trade school to learn the HVAC industry or work for a successful HVAC business before starting your own. With high-quality service at a fair price, you can build a scalable business model.

Start locally, focusing on one community to become the best. Build systems around that community, then expand slowly. Social media has changed the game, allowing you to reach local customers effectively. Many local businesses still rely on outdated marketing like billboards, but younger demographics are online. Tap into this to stand out.

2. Emergency Tow Truck Services

When I returned to Talladega, Alabama, to start Filterby, I noticed one of the richest people in town ran an emergency tow truck service. He towed cars stalled on the interstate but found the real money in towing 18-wheelers. With limited competition for heavy-duty towing, he could name his price, making it a high-margin business. You can start with one truck in one service area, advertise, and scale by adding more trucks. The downside is maintaining equipment and hiring qualified drivers, but it’s a scalable, high-margin opportunity.

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3. Waste Management

Patrick Dovigi, a former hockey player, started GFL (Green for Life) in 2007 by managing small Ontario waste management companies. Through over 100 acquisitions and a major Toronto trash collection contract in 2011, GFL grew into a multi-billion-dollar empire with over 20,000 employees. Waste management is a massive market—every home and business needs trash pickup. However, it’s not easy due to environmental concerns and large competitors.

To get started, study your local market to find gaps, such as insufficient pickup days. Exploiting these gaps could be your entry into a multi-billion-dollar business if you play your cards right.

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The Cash Flow Checklist

To succeed in boring businesses, follow this cash flow checklist to avoid costly mistakes:

1. Control Costs

Success starts with managing expenses, not revenue. John, who I met at a conference, runs a $10 million window cleaning business with 40% net margins, clearing $4 million annually. His initial investment? A squeegee, a bucket, and soap. Starting lean and learning the business firsthand allows you to identify pain points and build effective systems as you scale.

2. Validate Your Model

Most successful businesses get up and running quickly. When I started Filterby, I began with drop-shipping to keep risk low and validate my business model before investing in manufacturing. You can do this in any business. For services, create a landing page, run Google ads, and test demand. If you get clicks, partner with someone to deliver the service. This validates your idea with minimal risk.

3. Focus Locally

When Domino’s started in the 1960s, it focused on one college town in Michigan, tailoring its menu and delivery to local students. This hyperlocal focus allowed Domino’s to perfect its model before expanding globally. Avoid expanding too quickly—focus on a narrow customer segment or local community to build strong systems before scaling.

Conclusion

Boring businesses like ATMs, laundromats, equipment rentals, HVAC services, tow trucks, and waste management offer incredible opportunities to generate millions or even billions. Start small, control costs, validate your model, and focus locally to build a scalable, profitable business. If you’re committed to changing your life, these cash flow businesses could be your path to success.

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