Nice post about why aggregates businesses are so good.
“What makes a rock pit valuable is that nobody else can compete with it. The nearest rival owner from two towns over isn’t going to haul his rock into your territory because the trucking bills would eat up all his profit. No matter how good the rocks are in Chicago, no Chicago rock-pit owner can ever invade your territory in Brooklyn or Detroit. Due to the weight of the rocks, aggregates are an exclusive franchise. You don’t have to pay a dozen lawyers to protect it.” -Peter Lynch in One Up On Wall Street, 1989
