How to Buy a Laundromat Business

Sdílet
Vložit
  • čas přidán 23. 01. 2020
  • Laundromats can be one of the best sources of cash flow of any investment out there. The high cash flow potential is a great way to fast track your journey toward financial freedom!
    Get the FREE e-book, The Keys to Buying Your First Laundromat: laundromatresource.com/free-e...
    In this video, Laundromat Resource Podcast host Jordan Berry talks through everything you need to know about how to buy a laundromat. If you have ever been intrigued by owning a laundromat but didn't know where to turn for information on how to actually buy one, this video is a must watch!
    Here are links to some resources mentioned in the video:
    To download the FREE e-book, The Keys to Buying Your First Laundromat, for more detailed information on how to buy a laundromat, create an account on the Laundromat Resource website. Join the community!
    laundromatresource.com/free-e...
    10 Reasons Laundromats Are the Best Investment You Can Make
    laundromatresource.com/10-rea...
    8+1 Proven Ways to Finance a Laundromat
    laundromatresource.com/81-pro...
    To join the Laundromat Resource buyer's list, follow this link!
    laundromatresource.com/buy/
    Get Connected
    Diligence Capital Investments (Passive Laundromat & Real Estate Investing)- diligencecapitalinvestments.com​
    Laundromat Investor Resources- laundromatresource.com/resour...
    Join Laundromat Resource- laundromatresource.com/join​
    Laundromat Resource Forums- laundromatresource.com/forums​
    Laundromat Resource Blog- laundromatresource.com/blog​
    Be a guest on the podcast!- laundromatresource.setmore.co...
    Sell your laundromat- laundromatresource.com/sell​
    Laundromat Resource Coaching- laundromatresource.com/coaching​

Komentáře • 241

  • @tonykaizen
    @tonykaizen Před 2 lety +107

    Video starts at 6:03

    • @mitchell9169
      @mitchell9169 Před 2 lety +17

      THANK YOU god dam

    • @jayj4439
      @jayj4439 Před 2 lety +2

      @@mitchell9169 🤣🤣

    • @minutescouldsaveyoupercentormo
      @minutescouldsaveyoupercentormo Před 2 lety

      i hate fruit cake ass dudes that take forever to get to the fucking point.
      thank you for letting us know

    • @JCWalling
      @JCWalling Před rokem +6

      And then 80% of the the rest of the video is spent trying to get you to sign up for his newsletter or ebook or whatever. 🤪

    • @blkqueenk2717
      @blkqueenk2717 Před rokem

      @@mitchell9169 😂😂😂

  • @meeta1008
    @meeta1008 Před 2 lety +9

    First and foremost, thank you, and God bless! I so appreciate the information. I've been searching for informative content on this subject and I'm so happy to have found your channel! Thank you

  • @WorthyisHisname97
    @WorthyisHisname97 Před 2 lety +107

    Nurse here 😊👋 gotta keep doing research guys, and include God in anything and everything you decide to do 😊 !

  • @Lee-ofar
    @Lee-ofar Před rokem +2

    Newbie here, researching laundromat as a first time business owner. Just discovered your channel and subscribed. Much appreciate the positive and encouraging video!

  • @marauder1011
    @marauder1011 Před 3 lety +59

    When you said doctors, lawyers (high salaries) buy laundromats was a bummer but the follow up of me an average joe buying one was great, thanks. New subscriber btw!

    • @LaundromatMillionaire
      @LaundromatMillionaire Před 3 lety +13

      In my experience, laundromat owners come from all walks of life. The best ones are the ones that genuinely care about others and have a lot of grit.

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +8

      Haha, sorry to disappoint you initially, but glad you regained some excitement. In this business, average Joes have a great opportunity to succeed! Thanks for the sub!

    • @victoriac.attorneyatlaw
      @victoriac.attorneyatlaw Před 2 lety +1

      fyi I am a lawyer and it's not all that it's cracked up to be, that's why I'm on this page!

    • @janel9036
      @janel9036 Před rokem +1

      To clarify - are you saying being a lawyer is not all it’s cracked up to be? If that’s what you’re saying and you’re here to learn how to buy a laundromat to replace your legal career, good job, sister!

  • @shakitashontajones
    @shakitashontajones Před 3 lety +5

    Thank you so much for everything. I need this in my life.

  • @allisonwillcox9393
    @allisonwillcox9393 Před rokem

    Thanks so much! This is the best information I’ve found.

  • @Romanellochw
    @Romanellochw Před 3 lety +8

    Do you find it helpful or hurtful to the price if the lease is set for 5+ years? Obviously if the lease is low or high it will be simple but if the lease is somewhat average how do you work that into an offer? Does a long term lease help you in lowering the price or does a lease ending in a year or 2 help? Basically, how does that lease effect the ask price of the business? Thanks for all the good info!

  • @manilamartin1001
    @manilamartin1001 Před 2 lety +10

    I like the way you talk about laundromats. I bought a bad one at first. it was a very big ding. The second one was built from scratch. It took several months though to get it running and my money was tied up for a while. Believe me, the stress was insane. I almost lost my house.

    • @robertomontes599
      @robertomontes599 Před 2 lety +2

      How are the laundry mats doing now?

    • @friendlytester6861
      @friendlytester6861 Před 2 lety +1

      What made the first one so bad?

    • @manilamartin1001
      @manilamartin1001 Před 2 lety +4

      @@friendlytester6861 It was older with older machines. I couldn't get anyone to fix them. Plus a new laundromat ended up opening across the street from me which I didn't know about. It took out 30% of my customers.

    • @lesliejames3949
      @lesliejames3949 Před rokem +1

      How are you doing now with your laundromat? Appreciate you sharing a downside to your business venture. I don’t see a lot of negatives

    • @manilamartin1001
      @manilamartin1001 Před rokem +1

      @@lesliejames3949 I moved to the philippines several years ago. I sold my laundrymats in LA and bought an apt building here. I am looking for a location to open a new laundry mat here in Manila. A small one only. Maybe 10 washers or 15 max. There are very few self serve laundry mats here in manila compared to LA.

  • @sheeshd977
    @sheeshd977 Před 2 lety +2

    Is there a certain way to renegotiate how do you go about that?

  • @fiorella5717
    @fiorella5717 Před měsícem

    Hi, i tried to download the ebook > i registered > i logged in > i went back to the ebook > and i didnt find any download , there just a message that said “you dont need to register again (???). It takes me back to the pricing page

  • @kevinstilwell5673
    @kevinstilwell5673 Před 4 lety +7

    Wow glad I found your channel I have a ton of questions

    • @LaundromatResource
      @LaundromatResource  Před 4 lety +1

      Glad to answer as many as I can

    • @kevinstilwell5673
      @kevinstilwell5673 Před 4 lety

      Laundromat Resource what is the best way to reach you

    • @LaundromatResource
      @LaundromatResource  Před 4 lety +1

      Sorry, just saw this comment. Laundromatresource.com or, if you want to jump on a phone call, Laundromatresource.com/coaching

    • @kevinstilwell5673
      @kevinstilwell5673 Před 4 lety

      Laundromat Resource I just scheduled a meeting for Monday

  • @parthivpatel1794
    @parthivpatel1794 Před rokem +2

    Can you make a video how to open my own laundromat step by step

  • @saycotic
    @saycotic Před rokem +5

    Would you do a video about the ins of running a laundromat business? Ie. Getting routine maintenance and cleaning and hiring employees, how much revenue should be spent on these things, and maybe some things like the best way to run a laundromat

  • @1235garay
    @1235garay Před rokem +3

    Hello all!
    im a newbie here.
    i have 16 years of laundromat experience.
    worked at several during the years.
    been at the current one 6 years+
    i have seen things
    ups and downs
    i love it tho

    • @suzysurgent62
      @suzysurgent62 Před rokem

      how did you start exactly? Did u have good credit or bad? Can I start with no money just a loan?

    • @1235garay
      @1235garay Před rokem

      @@suzysurgent62 I am not an owner, just an attendant. Sorry if mislead you

  • @waylonlolotai7525
    @waylonlolotai7525 Před 2 lety +1

    It will be easy just to get a metal shed build and equip it with everything you need and open it as a laundry mat. Air and cooling, sitting area, vending machines, atm

  • @abdraboufamily1223
    @abdraboufamily1223 Před rokem

    The whole video is about to go to your website!

  • @sharonrose6072
    @sharonrose6072 Před 2 lety

    I'm wanting to reopen up a laundromat here in my home town can someone give some advices on getting my first business loan and getting set up license and certified in my state would love to know some information to help me get a small laundromat up and going the laundromat is completely still has everything all the equipment everything still in it but I wanted to go in and do some remodeling and get it back up to code and getting it running again can some give some tips how to approach a bank about getting a first time business loan

  • @hatersgotohell627
    @hatersgotohell627 Před 2 lety +2

    I see on a broker website selling a laundromat
    they mention revenue and cashflow it says revenue 165k which I understand but then it says cashflow 75k, what is cashflow, is that the same as net income?

    • @LaundromatResource
      @LaundromatResource  Před 2 lety +1

      Great question! Revenue = total income. Cashflow = Net Income (technically it’s net income after loan payments and taxes but usually they mean net income before those expenses)

  • @NashiraWilson
    @NashiraWilson Před 2 lety +1

    Yay I was finally able to get through with signup. Im ready to find what I need financially but Im here

  • @caidwi211
    @caidwi211 Před 4 lety +4

    I like you. Your very frank, and I dig how u lay it all out. Including that you got burned b4. I have confidence in someone like that. Definitely signing up for your info. 💯

    • @LaundromatResource
      @LaundromatResource  Před 4 lety

      caidwi211 hey thanks! I appreciate that! Let me know if I can answer any specific questions for you along the way

  • @KC-on6ij
    @KC-on6ij Před 2 lety +7

    This should be called “how to plug all my friends and my coaching” you didn’t say anything informative! All you mentioned is your memberships etc.

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      Sorry you didn’t find anything valuable in there for you. Let me know if you have any specific questions I can help you answer

  • @TedPatrickBaird
    @TedPatrickBaird Před 4 lety +4

    Thanks for the info! Is your book still releasing this month?

    • @LaundromatResource
      @LaundromatResource  Před 4 lety

      Shooting for the end of the month still! It might get pushed back a week or so due to the current circumstances but it's coming!

  • @jawary8474
    @jawary8474 Před 3 lety +6

    Thanks for the free Ed. That’s very nice

  • @oscareduardo5411
    @oscareduardo5411 Před 2 lety

    THANK YOU BRO

  • @michaeltheus3524
    @michaeltheus3524 Před rokem +1

    Hey Jordan
    I listened to your podcast with Chris "Money" about finances. It was great. My question to you is, have you ever purchased a used building and gutted it to make a laundromat? I am looking to get in the business in rural towns in Louisiana and two places I looked at yesterday have one very bad or no laundromat in it.

    • @LaundromatResource
      @LaundromatResource  Před rokem +1

      I personally haven't as it's difficult to make the numbers work in a lot of places in California, but plenty of people have. It definitely can be a profitable business model.

  • @MikeWilliams-fj7nh
    @MikeWilliams-fj7nh Před rokem +2

    Are there actual companies who come out and help you get your laundromat up and running from the ground up as in putting the bases down the laundry equipment and if so what are their names

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Distributors can help you with that and can also introduce you to installers

  • @nikkakillss
    @nikkakillss Před 2 lety +1

    i wanna own a laundromat i live in nyc bunch of those are everywhere not everyone has the luxury of a washer at home they will always be needed and always be around

  • @JasonDuncan
    @JasonDuncan Před 3 lety +3

    Good content. Thanks.

  • @richard34urp
    @richard34urp Před 3 lety +12

    Thank you for your good knowledge. You should make a video of how to finance a laundromat business and what are good resources to seek financing. Thank you

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +1

      Great suggestion! I’ll add that to the list. I’ve done two podcast episodes with lenders that are both awesome! Check them out if you want:
      HTTPS://laundromatresource.com/show24
      HTTPS://laundromatresource.com/show31

  • @meg7915
    @meg7915 Před 3 lety +5

    Do you recommend taking a business course on entrepreneurship course? I have never owned a business.

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +8

      I’m a big fan of continued learning so it could definitely help, but I also don’t think you need to. Read or listen to some good business books, listen to good podcasts, and watch educational business CZcams videos. You can learn a lot really fast that way

    • @meg7915
      @meg7915 Před 3 lety

      Thank you so much for your help!

  • @hwilfley
    @hwilfley Před 3 měsíci

    How do I partner with someone to buy a laundromat. I have one that is interested in selling.

  • @nailsbynicky.oc123
    @nailsbynicky.oc123 Před 3 lety +2

    do we need to have any mechanical experience in case our laundry broken ?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +1

      It can be helpful but definitely not necessary

    • @nailsbynicky.oc123
      @nailsbynicky.oc123 Před 3 lety

      So, what if we need one how can we find them ? Like our go to mechanical for our laundry mat ? Thank you very much

    • @manilamartin1001
      @manilamartin1001 Před 2 lety

      No, I fixed my machines but you can also just get a contract to fix. They get paid a fortune if you like fixing. I used to fix 3 other laundromat machines. I usually got $150 an hour for labor.

  • @Mr-C-Codes
    @Mr-C-Codes Před 2 lety +2

    My home is currently in Escrow for my home and after I pay off all my debt and buy a new car I should have about $80k left. I’m in Los Angeles do you think I can buy one?

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      Yeah, you can buy one with $80k, especially if you combine that with a loan

    • @Mr-C-Codes
      @Mr-C-Codes Před 2 lety +1

      @@LaundromatResource What’s the minimum I don’t want to dump my entire 80k.... how much do you think I neeed to put down for maybe $100k laundrymat.

  • @livinwithlt
    @livinwithlt Před 4 lety +5

    Would you recommend buying a struggling one or a brand new one after this recession ?

    • @LaundromatResource
      @LaundromatResource  Před 4 lety +9

      There are a lot of "it depends" on that one. In order to successfully resurrect a struggling laundromat you have to be able to change the habits of customers from going to a different laundromat to going to your laundromat. Buying a struggling laundromat can yield a higher return, but also carries a higher risk. Buying a newer one that is stable and profitable carries less risk, but likely lower return potential.

    • @livinwithlt
      @livinwithlt Před 4 lety +1

      @@LaundromatResource Thanks for the tip!!

    • @LaundromatMillionaire
      @LaundromatMillionaire Před 3 lety +1

      Very well said answer Jordan!

    • @livinwithlt
      @livinwithlt Před 3 lety +1

      @@LaundromatMillionaire Just subscribed to your channel. Hope to learn some good stuff!

    • @LaundromatMillionaire
      @LaundromatMillionaire Před 3 lety +1

      @@livinwithlt Thank you so much. Hopefully we all are learning from each other! That's the key to success imo.

  • @marwangkhat3756
    @marwangkhat3756 Před 4 lety +12

    Me and my friend are thinking of buying one but we only have 10k and most are 250-500k, we’re thinking of getting a loan and buying one. What are some ways to narrow down the best opportunities

  • @mr.millionaire4570
    @mr.millionaire4570 Před rokem +1

    I have questions #1 where do I go and get a laundromat business license, or do I buy the laundromat first and then I go through expectations then I get my license? #2 how to know if I'm buying a good laundromat let's just say if the gross revenue is $379,000 before taxes and bills and stuff Does that mean I'm keeping a good percentage out of that at the end of the year?

    • @LaundromatResource
      @LaundromatResource  Před rokem +1

      Great questions. 1. You don't need a business license until you buy your laundromat. Then you will just get a business license through your city/county. 2. Gross revenue doesn't mean much. The number you need to find is the NET number, or income minus expenses.

    • @RuebenDye-wy8ex
      @RuebenDye-wy8ex Před rokem +1

      I got a cool idea,
      Laundromat/Bowlin Alley
      The washer & dry are at the front of the lanes. You can bowl while ur clothes wash&dry. 😊

  • @THEBIGGESTSCUMBAG
    @THEBIGGESTSCUMBAG Před 3 lety +3

    I'M INTERESTED IN THIS

  • @fiorella5717
    @fiorella5717 Před měsícem

    Hi, why wouldnt you recommend checking yourself in pages where they sell business? Why would you recommend a broker better? Thanks

  • @Trump20-24
    @Trump20-24 Před 3 lety +3

    How much do laundromats usually cost to buy?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +1

      It really depends. $50,000-$100,000 for a fixer upper all the way up to $500,000 and beyond. It depends on how much money the business makes really.

  • @bbqworld2103
    @bbqworld2103 Před rokem +1

    Hi, great video. , but the link to download the ebook is broken

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Hmm...seems to be working when I try it. I will look into it more, thanks for letting us know!
      Maybe it will work here for you: laundromatresource.com/free-e-book/

    • @bbqworld2103
      @bbqworld2103 Před rokem +1

      @@LaundromatResource Thank you, I will try again now… question, for closed laundermats, without good telephone numbers for the owners, how can I get more info about a closed down business, to get In touch with someone to buy it? Thanks

  • @frozentundra7446
    @frozentundra7446 Před 3 lety +3

    I signed up to receive your e-book, received a confirming email, clicked on it and it keeps asking me to sign up for the free email???

    • @LaundromatResource
      @LaundromatResource  Před 3 lety

      Hmmm, I’ll take a look at that. Send me an email at jordan@laundromatresource.com and I’ll make sure you get it. Sorry about that but thanks for letting me know!

  • @yasseralsaidi1168
    @yasseralsaidi1168 Před 4 měsíci

    When Americans truly understood my equation thy said try very hard to get a laundry matt

  • @jdspace723
    @jdspace723 Před rokem

    Went to your site. Can’t seem to get access to it

    • @LaundromatResource
      @LaundromatResource  Před rokem

      My apologies, the site was down for maintenance this morning. It should be up and running now

  • @John-yt4nm
    @John-yt4nm Před 2 lety +5

    Video actually starts at 5:00 if you don’t wanna waste your time with all the babbling

  • @eddiegarcia9675
    @eddiegarcia9675 Před 4 lety +2

    any advice on if i should get a loan to buy one. been really interested in buying one

    • @LaundromatResource
      @LaundromatResource  Před 4 lety +1

      Yeah, it's a great question. I think it depends on your goals and your situation. If you're trying to get cash flow with as little money down as possible, obviously a loan would be the way to go as long as the business still can flows. I'm a fan of letting the business pay for itself. However, if you have a big chunk of money and want the most cash flow possible, all cash is probably the way to go.
      I have an article on a bunch of different ways to finance a laundromat if you're interested in checking that out. I'd also jump on a phone call with you if you needed to talk it out. LaundromatResource.com/coaching if you want to schedule that.
      Let me know what other questions come up. I'm glad to help

  • @NoName-ot8kl
    @NoName-ot8kl Před 3 lety +19

    He is a nice guy who genuinely wants to help people. I hope the information in his e-book can help me make wise decisions when buying my first laundromat!

    • @malcolmjameson8790
      @malcolmjameson8790 Před 2 lety

      I dont mean to be so off topic but does someone know a method to get back into an instagram account??
      I was dumb lost the account password. I appreciate any help you can offer me!

    • @narelyrivas8114
      @narelyrivas8114 Před 2 lety

      @@malcolmjameson8790 im pretty sure you can reset password, and you'll receive a email to reset it

  • @hemeraldhappy7166
    @hemeraldhappy7166 Před 2 lety +2

    I own a laundromat, that is exclusive for WASH & FOLD SERVICES, before pandemic was good, now is dead, no clients, and I have not money to pay high Marketing strategies, what I can do, please if you can share one of your great ideas, I'm planning to sale the place, because I use my savings to pay the expenses the last months and I can't do that anymore, thank you, my place is in Montreal Canada.

    • @LaundromatResource
      @LaundromatResource  Před 2 lety +2

      Sorry to hear your tough situation. I’ve been there and it’s not fun. I think your options are to either 1. Cut your losses and sell or 2. Buckle down and hustle to drum up new business. That means knocking on doors, going to businesses to see if they need laundry done, offering pick up and delivery, reaching out to past clients to see if you can win them back, promoting your services on social media, handing out fliers, wearing “Ask me to do your laundry” t-shirts everyday, or anything else you can think of to improve that business. But that will mean a lot of time and effort so you need to decide if it’s worth it for you.

  • @serriegranville2424
    @serriegranville2424 Před 2 lety +2

    Do you still offer free coaching ?

  • @butlertv3058
    @butlertv3058 Před 2 lety

    No more free coaching!?

  • @elderinisrael
    @elderinisrael Před 2 lety +1

    I joined your website and I still can't find anyone who would be willing to help me get my own laundromat. I'm a very busy savvy person with some experience in the laundromat business.

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      What kind of help are you looking for?

    • @elderinisrael
      @elderinisrael Před 2 lety

      @@LaundromatResource Getting my first laundromat. I have some experience, I was an ops manager at a laundromat years ago and fell in love with the industry. Unfortunately, I have poor credit and I'm also poor.

    • @suzysurgent62
      @suzysurgent62 Před rokem

      @@elderinisrael look up how to build your credit for example renting helps but u need to open a credit card so talk to someone at the bank about this, sometimes youtube has good info. I am not sure what score u need to take out a loan just talk to a pro I do know sesame credit is one example

  • @patricossikari5429
    @patricossikari5429 Před 2 lety +1

    Free coaching not available

  • @lilrexy6088
    @lilrexy6088 Před 3 lety +4

    Hey I heard laundromats should be free and that if a person buys one, you are buying someone else’s failure since no one would sell a profitable cash flow. Is this true? There are ways to get laundromats for free?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +2

      lilrexy I've seen those videos, too :) I have a video about it telling you how it works if you want to check it out. You're only buying sometime else's failure if you buy a failing laundromat. There are lots of reasons people sell their laundromats. I have a blog post with the 10 most common reasons if you want to check that out. There are lots of ways to get in the business and lots of ways to run them one you own them. Just remember to be cautious taking advice from someone trying to sell you something :)

    • @lilrexy6088
      @lilrexy6088 Před 3 lety +1

      Laundromat Resource that is true, thank you very much. Also, how much should a laundromat in New York City when it’s bringing in about 4K a month? Some of the prices I see for sell seems too good to be true since it is in NYC not in Texas. Know what I mean?

    • @LaundromatMillionaire
      @LaundromatMillionaire Před 3 lety

      Lilrexy, That is a very ignorant statement for someone to make. I'm sure they mean well, but a cash on cash ROI of 30% or higher is NEVER A BAD INVESTMENT.

    • @stevecurry5055
      @stevecurry5055 Před rokem

      No - that’s false. People sell profitable businesses all the time. In fact, how could you sell a business that loses money??

  • @richardballentine7103
    @richardballentine7103 Před 3 lety +3

    What two critical mistakes did you make when buying those two laundromats that you discussed in your video?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +3

      Great question. 1. I relied solely on the broker to buy my laundromat. The broker only gets paid if I buy a laundromat. I recommend having an experienced third party consultant or owner helping you through the process. 2. I didn't thoroughly check for new laundromats going in when I purchased a mat. One opened up and put a dent in my income. Proper due diligence is important.

    • @mikeabramov1205
      @mikeabramov1205 Před 3 lety

      I agree would love to know more about financing a laundromat

    • @manilamartin1001
      @manilamartin1001 Před 2 lety

      @@LaundromatResource I did that too, put a big dent in my wallet. I did better the second time. I had a company build out a new one. Went with card system and new machines. Made less percentage but steady low maintenance. I also got some financing on the machines which helped.

  • @jorgemartinez9468
    @jorgemartinez9468 Před 2 lety +1

    Links aren’t working

  • @sheeshd977
    @sheeshd977 Před 2 lety +1

    What if I have a 400 credit score is it possible?

    • @danielharper2366
      @danielharper2366 Před 2 lety +1

      Not a snowball's chance in hell, not with a traditional bank loan anyway.

  • @Qween23
    @Qween23 Před 9 měsíci

    Hello, is coaching still available?

  • @DeLGuaLLabiTo
    @DeLGuaLLabiTo Před rokem

    Links down below!! Sheeeeeesh!!

  • @yasseralsaidi1168
    @yasseralsaidi1168 Před 4 měsíci

    Lake shore plaza or stone stown is good location

  • @yasseralsaidi1168
    @yasseralsaidi1168 Před 4 měsíci

    This laundry resembles friend ship between United States and Europe and so it needs to look that way

  • @houseofmatrix6174
    @houseofmatrix6174 Před 3 lety +5

    My goal is to buy a Laundry Mat I just need figure out the logicistics

    • @LaundromatMillionaire
      @LaundromatMillionaire Před 3 lety +3

      Hey House, this can be a great business but take your time and do your due diligence. It's very capital intensive and mistakes are costly. Be well ✈️

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +1

      Let us know if we can help figure out the logistics with you.

    • @houseofmatrix6174
      @houseofmatrix6174 Před 3 lety +1

      @@LaundromatResource thank you for contacting me do you have any contact information or email that I can speak you directly

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +2

      My email is jordan@laundromatresource.com
      Or, you can book a free call at LaundromatResource.com/coaching
      Looking forward to connecting!

    • @houseofmatrix6174
      @houseofmatrix6174 Před 3 lety +1

      @@LaundromatResource thank you Jordan i will definitely reach out

  • @juggalosquad5027
    @juggalosquad5027 Před 2 lety

    So if I was to take a loan out what would that person be called next

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      which person?

    • @juggalosquad5027
      @juggalosquad5027 Před 2 lety

      @@LaundromatResource the one who takes the loan out that’s not rich or a millionaire maybe the average joe?

  • @s.a.9379
    @s.a.9379 Před rokem +1

    Would be good to know if dry cleaner businesses have the same upside

    • @LaundromatResource
      @LaundromatResource  Před rokem +2

      Dry cleaners have some of the same upsides but also have downsides. For example, while laundromats were marginally affected temporarily by Covid, many dry cleaners were devastated. They’re not necessary in the same way as laundromats

    • @s.a.9379
      @s.a.9379 Před rokem

      @@LaundromatResource Thanks that’s super helpful - any high level reasons why they took the hit harder than laundromats?

    • @rickswing8723
      @rickswing8723 Před rokem

      @@s.a.9379 my guess would be, since no one was working, there was no need for those expenses considering most dress clothes were not needed.

  • @operator0
    @operator0 Před rokem

    This sounds like one long infomercial about all the various services that YOU offer. I learned practically nothing from it except that you offer "free" services.

  • @mrrobinson10
    @mrrobinson10 Před rokem

    I've been waiting on someone to return my emails. I've paid for the membership and reached out for help, only to be ignored. Hopefully this will get a response.

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Hey man, I’ll check to see what happened with your email and get things taken care of asap. Sorry you’re having trouble with the site but I’ll get you sorted

    • @mrrobinson10
      @mrrobinson10 Před rokem

      @@LaundromatResource thank you. I refreshed our email thread so it should be easy to find.

  • @midtownmadnesses
    @midtownmadnesses Před 2 lety +1

    What do I do when I go on vacation? Who collects all this money and coins lol

    • @LaundromatResource
      @LaundromatResource  Před 2 lety +1

      Great question! It depends. It could be a manager, a family member, a broker, or, if you don't have someone you can trust and you're an all-cash business, you may have to plan your vacations around it. I would suggest setting your business up to allow you to have the lifestyle you want. For example, using a card payment system instead of coins

    • @midtownmadnesses
      @midtownmadnesses Před 2 lety +1

      @@LaundromatResource thanks for the answer. I guess the question is how long can you be gone for until the machines fill up with quarters that you have to empty before they can operate again?

  • @pjt3887
    @pjt3887 Před rokem

    I'm sorry to be contrary but there is no upside to actually owning the laundry mat leasing on the other hand gives you four more tax advantages and you have enough money left over to be able to retool and take that that's a huge tax write-off you also then won't need huge sums of money cuz you're not buying it you're leasing. I'm also surprised you didn't cover wash and fold and other services you can add on to your business to make it even more profitable.

    • @LaundromatResource
      @LaundromatResource  Před rokem

      I’m not tracking. Are you saying there’s no advantage to owning the property? The equipment? There’s obviously huge tax advantages to owning both of those. I’m assuming you’re making an argument against buying the real estate. I’m all for depreciating equipment strategically but in many markets that depreciation won’t compare to the real estate depreciation. And when you own the real estate you should still be paying rent from your laundromat corporation to your real estate corporation, so I’m not tracking the advantage there. It’s true, it will likely require more money to buy both but if you have the capital and purchase both at logical prices it’s a no-brainer to buy both.

  • @beansamillion3961
    @beansamillion3961 Před 3 lety +2

    I've seen posts online from sellers who are willing to finance a buyer with a certain amount of credit and networth. I'm looking at all avenues as I have the initial liquid to put down but not the networth.
    This process can be a bit overwhelming at times but I am remaining optimistic. I was hoping owning a business actually increases my networth but sometimes I feel as though in order to play you have to be well off/established.
    Nevertheless I will be reading your ebook for additional insight.

  • @minutescouldsaveyoupercentormo

    i’m getting revenge if anyone finesses me. it’s going to cost them a finger or 4

  • @alking6633
    @alking6633 Před rokem +1

    He took 21 minutes to say 7 minutes of information.

  • @reactionreaper2501
    @reactionreaper2501 Před 2 lety

    I need one in Columbus ohio

  • @ericfisher100
    @ericfisher100 Před 3 lety +1

    If coin laundromats are so easy to run and they make great cash flow why do I see so many of them for sale? I have seen the same laundromats for sale for the last 3 years in places like Chicago? why? For example, one unit selling for 325K and cash flow is 87k... Why sell it, it's like saying no to free cash flow? Why is the unit on the market for 3 years? what am I missing here? “The old adage, 'If it sounds too good to be true, it probably is'" I am interested in buying a passive income side business, however, I feel that the awesome laundromat business story is not very clear to someone like me?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +1

      Great question! There are a lot of reasons people sell. I wrote an article about why people sell. Here's the link: laundromatresource.com/top-10-reasons-people-sell-their-laundromat/
      It's likely one of those reasons.

    • @ericfisher100
      @ericfisher100 Před 2 lety

      From Kitten in Mittens - comment was deleted - not cool man.
      its being sold as a failure. you also have to be careful because many operators do not keep track of their expenses or income at all, and will outright lie to you. They may also leave faucets running in the event someone may want to verify water usage to calculate income that way, because water usage is public info and that is also how the IRS audits laundromats. They may also fill the quarter boxes and show you the laundromat on a sunday (the busiest day) where most laundromats do half their weekly profits... most people who own laundromats have zero clue what they are doing and they rush into commercial leases with zero knowledge. "Buying" a laundromat means buying someone else's failure, in the vast majority of cases, no one is going to sell a successful cash business. There are plenty of "reasons" but none of them are good, do your due diligence, do not BUY laundromats, you will never see a ROI if you do.

  • @chriscruz4433
    @chriscruz4433 Před 2 lety +1

    Even at 2x speed this guy did not talk fast enough. Great information though

  • @ryankeenan351
    @ryankeenan351 Před 3 lety +2

    Why is the laundromat industry in a bad place?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety

      I don’t think it’s in a bad place. I think there is room for improvement in certain areas, like accountability for brokers, lack of transparent pricing for machines, lack of information and resources, etc.

  • @suzysurgent62
    @suzysurgent62 Před rokem

    CAN ANYONE FILL ME IN ON THE PART OF HIS BOOK THAT EXPLAINS WHAT THE BROKERS FAILED TO EXPLAIN TO HIM ABOUT THE BUSINESS THAT ENDED UP COSTING HIM?????? HELP LOL

  • @jaytpharaoh8411
    @jaytpharaoh8411 Před rokem

    I’m a barber and I’m trying to buy one

    • @LaundromatResource
      @LaundromatResource  Před rokem +1

      Love that! Let me know if you ever snag one or if there’s anything I can do to help!

    • @jaytpharaoh8411
      @jaytpharaoh8411 Před rokem

      @@LaundromatResource I’ve been following all your videos. Once I get my finances in order I’ll reach out, I need/appreciate the help!

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Looking forward to it!

  • @harrypottre4611
    @harrypottre4611 Před 3 lety +7

    Here are my biggest questions
    1. If the industry is such a cash cow, why is anyone even selling?
    2. Why wouldn't you just buy up all that you can instead of giving the knowledge away, which increases competition?
    These on honest questions even though they may seem harsh.

    • @JPmotion
      @JPmotion Před 3 lety +1

      Because they bought someone’ else’s failure and can never recoup their cost for buying it. Most people don’t know how to run one efficiently

    • @sprankthetank
      @sprankthetank Před 2 lety +3

      if he lives in montana and you live in indiana, do you really think hes your competition? come on.....think smarter

    • @manilamartin1001
      @manilamartin1001 Před 2 lety +1

      I bought and sold a couple of laundromats. Machines are expensive especially upkeep. Some just want to cash out. The first one I bought was $500k and the second I put up for $350k. They are expensive upfront.

  • @716rondo
    @716rondo Před rokem

    and of course... "go get my e book"

  • @johnathansantoni4533
    @johnathansantoni4533 Před rokem

    all over the place...

  • @alexjflow
    @alexjflow Před 3 lety +2

    3 min in and we still haven't talked "how". Just talking about other videos.

    • @LaundromatResource
      @LaundromatResource  Před 3 lety +3

      You’re a realtor, you know “how”. Find a laundromat for sale, make an offer, verify the income and expenses, and close. 😉 The other videos are tools to help people who truly don’t know “how”.

    • @alexjflow
      @alexjflow Před 3 lety +1

      @@LaundromatResource just making an observation. whats the best way to find them?

    • @LaundromatResource
      @LaundromatResource  Před 3 lety

      @@alexjflow laundromat or small business broker, Google “laundromat for sale near me” and call the listing agents of those laundromats, and direct mail or just talking with owners for off market deals. Also looking for closed down laundromats and negotiating a lease with the landlord. Those are your best bets

  • @jasonworden1599
    @jasonworden1599 Před rokem +1

    The author offers no real advice on the issues that he encountered. He just keeps pushing you to his website for more information.

  • @terrypatterson8547
    @terrypatterson8547 Před rokem

    How to Buy a Laundromat Business. But first listen to me ramble on for 5 minutes.

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Yeah, I hear you. Not my best video but one of my first. Check out the new 3 part series on how to buy a laundromat if you want more details more succinctly.

  • @tommyjones1357
    @tommyjones1357 Před rokem

    Assuming people in IT are high earners. 🤣

  • @The_simple_way
    @The_simple_way Před rokem

    Please get to the point on how to purchase one as the title says instead of dancing around the words an advertising your other videos

  • @gregbieniecki7729
    @gregbieniecki7729 Před 4 lety +7

    way too much babbling
    The title says how to...... not listen to me babble about laundrymats.
    Change the title to this video to listen to be ramble about laundrymats. And push my web site and e book. You said almost nothing about how to buy a laundrymat
    C’mon. So disappointed

    • @LaundromatResource
      @LaundromatResource  Před 4 lety +7

      I appreciate the feedback. Succinct is not my strong suit haha. But definitely an area to improve. Thanks for the input

    • @hulksmash6858
      @hulksmash6858 Před 3 lety +3

      Or don't watch the video if all you are going to do is complain.

  • @michaelbatista2869
    @michaelbatista2869 Před 2 lety

    If you "buy" a laundromat then you're doing it wrong.

  • @Jerryseinfeld44
    @Jerryseinfeld44 Před rokem

    So many words. So little information….

  • @mikerankreviews
    @mikerankreviews Před 2 lety

    This video was not very helpful instead of telling us about all the links in the description and on your website maybe actually take your time and make a video on that

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      Sorry to hear you didn’t find value in it. Go check out the free mini course I just posted this week on how to buy a laundromat. It’s very practical

  • @MA-fk5ot
    @MA-fk5ot Před 2 lety

    Ur just advertising I’m disappointed

  • @BrianDaveyBlackThunder

    he said nothing about how to value a laundromat business.

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      How Much Is a Laundromat Really Worth?
      czcams.com/video/0Z3ksLnobaU/video.html
      We have a few videos on how to value a laundromat. Here’s the latest.

  • @sikwitit2494
    @sikwitit2494 Před 2 lety

    This ain't nothing but a long azz boring commercial.

  • @anonymousn1nja
    @anonymousn1nja Před rokem

    this video is a waste of time. could be 4 min

  • @shrijl
    @shrijl Před rokem

    Dude is here just to sell his service NO VALUE

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Sorry to hear you didn’t get any value out of it. Let me know if you have any questions that didn’t get answered in the video. I’d be glad to answer them for you.
      Also, I didn’t mention one thing you can buy from me in that video because I didn’t have a single thing to buy for almost two years after that video 😊

  • @luvvvmoe
    @luvvvmoe Před 2 lety

    bruh get to the point!!!!!

  • @abduljackson168
    @abduljackson168 Před 2 lety

    Whole video was a promotion

  • @stephaniesmith4832
    @stephaniesmith4832 Před rokem

    I do not recommend this video

    • @LaundromatResource
      @LaundromatResource  Před rokem

      Sorry to hear you didn't get any value from this video. I did just create a free, 3-part mini-course on the channel on how to buy a laundromat. Perhaps that will give you the information you're seeking on how to buy a laundromat. Here's part 1 if you're interested: czcams.com/video/y3iBEqRwwys/video.html

  • @kandacec4973
    @kandacec4973 Před 17 dny

    Get to the point you talk a lot about nothing

  • @rociovelasquez9894
    @rociovelasquez9894 Před měsícem

    you are so boring to listen to

  • @Haze508
    @Haze508 Před 6 měsíci

    10 minutes in and there’s not one piece of valuable information. Besides, I’m trying to pump other sites wast of time.

  • @curadnur
    @curadnur Před 2 lety +1

    Hi how can I contact you I am interested in laundromat

    • @LaundromatResource
      @LaundromatResource  Před 2 lety

      my email address is jordan@laundromatresource.com
      You can also check out laundromatresource.com/coaching
      Looking forward to connecting!