I use to own a laundromat in Chicago. Made good money. One of the best things I did was hire a person to do laundry. Charged 1.00 a pound. For wash and fold service. It was a god send. 1. People didn't vandalize b/c someone was there while it was open. 2. The wash and fold service more than paid their salaries. People who actually had their own washers and dryers came in all the time just b/c it saved them so much time.
@Byvägen yeah we toyed with the idea of adding something more. It is all going to depend on the area you are in. Some areas that simply won't be a good a idea. I have seen places in SF with a bar on the otherside. Going ong to depend on the location, space, and most importantly the type of clientele. The biggest thing that put us off was the liability. For insurance purposes you have to very specific what they are renting. You want to rent just the space they using. That way you dont have patrons using folding tables as places for the coffee and etc.. So as soon as they walk away with that coffee or taco everything else becomes your liability. Drop the coffee on a running kid. It's in your business then. Slip and fall after buying the coffee, it's in your business. Leave on a or have a faulty piece of machinery burns your olace with there's. Insurance won't cover it b/c you didn't let them know. If you did you are going to get hit with the premium increase. If you have the space to put up a wall that makes since. At that point just add a separate entrance. Every person I talked to advised against it unless I could wall them off in someway.
@@jamalpeoples3736 I've always thought it would be a good idea for some laundromats to add a play area for mothers so their little kids could be occupied while they do laundry. A laundromat attached to a grocery store or gym would also be a good idea, then people could shop/exercise while their clothes were washing.
@@WindWipper a play area is a horrible idea. Liability is the the name of the game. No added cash value, yet tons of opportunity for injury.. In and out is the way of a laundromat. Anything that keeps them there longer is bad. Are they going to stop shopping or exercising to change their load? Are they going to get out of a line at the deli counter to put clothing in the dryer? Are they going to jump out of a zoom class to check and see if their dryer has stopped. Are they going to skip the shower? You need something were they can step away quicker check in a couple of seconds and get back to what they are doing. Bars and coffee places work if they are separated and you can just walk thru a door. Gyms and grocery stores would crush your laundromat especially during peak times. A ton of laundry just sitting in machines not making money. Location, cleanliness, safety, and working machines is whats needed in a laundromat. Almost everyone has tablets and phones for media consumption. You would be better served adding comfortable seating more charging outlets and teaming with a company that will give free movie codes with ads as long as they are on your wifi. Would cost very little, add almost nothing to overhead or liability.
@@jamalpeoples3736 Ah, makes sense. I was just thinking that some parents bring their little kids anyway, so why not give them a small place w/ a table to color coloring books, play w/ small toys, that sorta thing. Might make them more likely to return business. Providing wifi would be a good idea. On the other stuff... i guess you're right, not everyone is as conscientious as me about time. ; )
Did you partner with any businesses in the area? I know for drop off service, this could lead to a lot of profits if there are other local businesses like restaurants or hotels that dropped off to the laundromat
@@wkjeom to be fair, he's in ohio. Places like NYC would have a greater profit due to higher cost of living. ANd THAT's what it's all about. Cost of living.
Thank God that you have a means of Living ; While giving a good service to others. Will 🙏 pray for you and hope the criminal element stays away from you. THANK YOU FOR SUPPORTING YOUR COMMUNITY WITH AN ESSENTIAL SERVICE...HANG IN THERE...TRUST GOD... PROVERBS 📜 3 VS 5 THRU 7...
Remember when you were a kid and smashed other people's property with a hammer, and your parents defended you? Me neither. I had good parents. And a life.
Generally seems like people with worse parents end up extremely successful or extremely unsuccessful, wonder what the factors for that are. Certainly seems like that should be different though. It's an interesting problem to solve because you can't just take kids from their parents and letting the parents do as they wish disadvantages some kids.
@@compactcow there's some people that grow up in a bad situation and it motivates them to do better while other people to think that that's just a lot they have been dealt in life and stay that way. I wish there was a solid way to determine how to make more of the one type
I would look into a security company that can monitor the cameras there remotely. Yes, it would be an added expense, but if you keep getting breaking into, and your equipment gets damage, you can't be at that site 24/7. Especially where he said he is having newer equipment installed, you want to keep those machines up and running. Plus, and another HUGE factor, if people don't feel safe in your business, they will stop coming. Bad neighborhood or not, something needs to be done here. Just a thought. Great video though, I love him emptying the machines and collecting all the change, I wished I could do that. :)
Working for an Apartment maintenance company in the greater MSP area as a Tech, I came across a unique laundry at a very "rough" apartment complex.Only one machine took money, then dispensed a card that worked in all the machines, (candy,Pop, soap, etc). The complex manager explained to me that vandalism and theft were zero now in the laundromat. The only cash on premises is in the "safe like" Card dispenser. Plus once they purchase the card you have captured that money. It's not quarters, it's yours. FYI
familiar with them. A convenience store next door to my old building was in an area of high-rises and older apt blocks. You went in there and "loaded" your laundry card with bills/coin, or cards - debit and cc. Very convenient, very secure. No vanadalism of any of the machines on this paycard system at all. Losers. Losers. Losers. Thieves, vandals, making life difficult for everybody else.
Like old token machines, and since you canKt use that anywhere else folks are always coming back to use up that last bit then add more on to finish and the cycle repeats.
@@InvestmentJoy Absolutely! I mean, I dont think anybody deliberately searched for laundromat videos, yet here we are every upload just waiting to hear what wacky things happened this time! Also, seeing the nuts and bolts of the business side has been hugely educational. Most property investors and managers on youtube tend to shy away from such detailed breakdowns of monthly revenue which is sad because its an invaluable tool for aspiring small business owners. Keep up the good work, and hopefully the next video or two we will get to see the new laundry equipment!
Jacob Kresky if you knew what city this is in to say you don’t feel safe anywhere in it is ridiculous lmao. A grandmother could walk downtown at night and be completely safe
If you want customers to "love you" install an "extractor". It is like a super spin cycle stand alone machine that reduces dryer time. The wise will use it and of course it's not free. Bonus for you is lower maintenance cost of dryers as lighter loads go in the dryers.
I love the laundromat where I live, it is always manned by a human being, it is very clean and the owner really keeps out the riff raff. He even doesnt have change machines, you get your quarters from him so people dont come in and get quarters for the meters.
my friend owned a laundromat he switched it from an automat to a manned laundromat he hired one full-time person and himself he was able to make more money because there was no damage ever done to his business after that. he also changed the 24-hour operating hours to 15 a day and he actually made more money if you give people a deadline they might do their laundry in a timely fashion anyone coming to do laundry after 10:00 p.m. is probably shady to begin with you don't want those people in the automat after hours plus you're not there to handle problems with the machines which sometimes spins people out of control if you have someone there to handle it it saves a lot of aggravation in the long run. however it might just be his area I know that the changes he made help them net profit a lot more per month.
Hey question for you or your buddy I want to hire someone but how do I do so? As in paper work and taxes for them or does that not matter unless it’s a company? Can I just pay them cash or direct deposit? Thank you if you respond
WTF it's been a year? I can't believe it. I haven't done anything in that year. Better get my ass moving soon. Great job Brandon, I love watching your videos and congratz on the 1 year mark!
There's a small town in Texas also called Chillicothe that I used to drive through when heading west to college, I had no idea that there were more Chillicothe's out there
I'm still rooting for you. You are living the dream and making it work even with the ups and downs. Sorry about the tree in the house. Would you believe that has happened to us twice in two separate houses. 2006 and 2017.
Enjoyed this video (and the previous one) about owning your laundromat. I get a little freaked out when you go collect the earnings their a l o n e--- without someone (or more people) to accompany you, who could serve as Security. Even being accompanied very discreetly without necessary showing up as a "group" together, or with anyone, but having your people very very near the facility to keep an eye out on you from the outstide. I'm sure the area is still pretty safe, but please don't underestimate allllll aspects of security that could be really helpful, including the installation of e x t r a high def cameras externally too (even at the side or rear of the building), along with a real deal, heavy duty security door for your office inside. I absolutely don't want to freak you out, but you can NEVER be "too safe" or hardcore about extending your security measures nowadays because people are crazy. Your channel is great and thanks so much for sharing all of your business experience and knowledge with us. Take care!
Man, i run a laundromat. You're doing so many things that i hope you're talking extra precautions for. For instance, have at least one other person with you, especially for the outside machine. Ideally, it's best to lock the doors when you're opening anything that takes bills, especially the changer. At the very least, have someone watch your back while doing it. Also, invest in a changer that stacks the bills instead of opening a box full of what looks like shipping insulation. They aren't that expensive
That's after he paid all costs outside the laundry mat also. IE: His mortgage, regular bills, etc. Considering he only needs to come in once a week to collect and it pays for his life as well as itself (most of the time), if he has another full time shop/job then he's making good cash. Also, considering his mortgage, it's cheap where he lives so yeah. He's doing just fine.
Hey running a laundromat doesn’t sound like a bad idea, “people steal a lot of stuff and cause damage.” Ok that’s not that bad “we’re basically breaking even” ok I’m out.
I was at a laundromat in Oregon recently that had all Electrolux machines... worked great. They also had debit / credit card readers on them on top of cash... best laundromat we’ve used in years (we normally only use them on vacation and for our sleeping bags.)
Maybe it’s just me but looks like it lost money. The “Rent” category is what I’m obviously not picking up on. Do you pay rent or you collect rent? “Rent” is wrote in red as to be a deduction/cost, but the $1100 is in blk as to be a profit/income.
@@tribulation138 that's 800-1000 passive income though. you're trading more of your time for money, he isn't. the most he'll do is check up frequently.
Got to get up either early in the morning or after the Laundromat is close to do the stocking, cleaning and collection work. Plus, vandalism is a negative to your cash collections. I think it a tough business especially in rundown neighborhoods.
Always love a good laundromat collection video Brandon. You have inspired me in so many ways. I tell my family that not a day goes by that I don't think about doing something like this (or real estate investing).
I service coin laundry,I am surprised that your top loader does not have metal sleeve for the coinboxes..those are a type of vault system to deter breaking in
Love that quarter counter, I bet it saves a lot of time counting... I find the more machines I'm getting the much much longer I'm sitting around counting quarters...
Man I’m really sorry to hear about all the stuff going on, hope everyone was safe with the tree falling on your house. Best of luck through all this craziness!
Just found your channel. I work for a laundry company and we repair commercial laundry equipment for hotel, hospitals, laundromats etc... Best idea to get rid of the top loads. Dexter is a good brand however just keep in mind tech support can sometimes be of issue. Any alliance brand is good Speed Queen, Huebsch, Unimac. We are Wascomat dealers they are good as well. Tech support is okay. If you ever need anything with an issue you cant figure out feel free to reach out. Cool to see you doing this and me having a little knowledge of it. Keep up the good work
I know a guy that his father owned a couple of them and he told me that his dad had 5 gallon buckets filled with quarters hidden in his garage,yeah,he was making some money...lol
It's true, the money is there. I helped my dad run his laundromat. I would use to a 5 gallon bucket and almost fill it with quarters from all the washers and dryers, I would quickly do it when nobody was there. When my dad would have the time he would count all those quarters in one or two buckets full.
@Chet Muggins: Many times I only had time to only get to two rows of washers or dryers before people would come in. It would take about two or three weeks to fill a 5 gallon bucket of quarters which we would count and put in cloth sacks to take to the bank.
I have no idea how you ended up in my suggestions, but I've only watched two videos and now I'm a subscriber. Love your honestly, work ethic, and fun videos.
I’ve got a couple of questions: Do you have any idea how much you’d make on average, and then with that how long it would take to break even from the overhead plus maintenance? The second is at what point owning all of these vending machines is it worth your time to collect all of these manually? The first questions was referring to both the vending machines and the laundromat. I know it’s an old video so im not really expecting a reply but thanks regardless.
Laundromats have had a special place in my heart,one owner I knew had a mat cleaning business for local companies,he made money cleaning their rugs,towels!
Yes that is legitimate business.. which blew my mind that a company would come on weekly basis to clean& swap out company door mats when work for the hospital
So Im a tech guy. Im guessing your in a low income area. In DC, the rich white parts of the city are going cashless. Can you workout a system where customers come in, pay at a counter, you load funds into their a card, hand it to them, and they use the card to complete transactions at either the washing or drying machines of their choice? You could also program the card to have an expiration date, so if they deposit $10, they would have 24 hours to use up the funds or else it expires which eliminates theft since they would use up funds each visit and then either return the card or they keep it and you have data as to who your customers are and their spending habits. All the equipment would be locked down/away with minimum ways they can actually be touched, think of it like an iphone display at like a T-Mobile or Best Buy store. Yea it would cost more in terms of equipment but once your up and running, you would save a fortune on maintence in the long run.
to decrease the currency in the facility I would convert the machines to run on tokens. That would narrow your defense down to 1 machine that would dispense tokens for dollars. Then you just recycle the tokens from laundry machines to change dispenser.
The problem would be having to order in more and more tokens. Limited number means limit sales. Some people may keep the tokens. Also its never good to keep your eggs all in one basket
@@KcTc344 I know this is 5 months old but agreed, going cheap 95-98 percent of the time is never worth it, sure tokens may be cheap as heck to buy but when you run out for any sort of reason ya can’t make anymore money money til you get more Their was this one laundry mat I used to go to where they had cards you upload money onto threw a machine and you used the cards for the washer and dryer, that seems like more of an efficient way to cut down on money in the building
Amazingly smart to show exactly the amount of cash you pick up during a collection....I'm sure that's an excellent way to prevent getting robbed. Well thought out! 👍👍
@@InvestmentJoy hey, didn't mean to come across rude....I'm genuinely concerned about safety, you're a funny guy and creative. Just concerned...that's all!
Don't feel bad, we had a rape and murder occur at two laundromats in my city. And at a third the entire business flooded. Vandals are a common occurrence at laundromats.
I agree with your thinking of placing the better maintained machines in your trailer park laundry. other then that cant wait to see how you decide to improv the laundromat.
Hi! May I know how you started? How much was your first machine, what kind of machine you bought, what was your profit and all that stuff? Your videos are very inspiring. Thank you! ❤️
with the national coin shortage, are you able to keep enough quarters in the laundromat to keep the change machine full? What percentage of quarters disappear from the laundromat a month because people get change and do not use it all there? Any idea?
Bruh I don’t know how to tell you this but just owning a laundry means all the negative energy people wash away with the tools you provide them now lands on you - it’s up to you to redirect this energy elsewhere This is why your life is so hectic ❤️ Owning a laundry is easy money because it comes with a price 💸
With just a retail job I was kicking tweakers out of the dumpster. I could never run a business like this that could be hit by boobytrappers and vandals. Kudos to you man
I'm a commercial real estate broker in San Diego. A local laundromat owner installed card swipers and his sales went up 30%. Also, his location is adjacent to one of the most expensive communities in the country and he still deals with tweakers and all kinds of madness.
@@randomdude3646 I don't know much about income producing businesses like this. I mostly sell apartment buildings and assets like that. But the business model of a laundromat has intrigued me. When buying or starting any business, I would look strongly at your lease. If the landlord will not give you multiple extensions with built in increases of 1-3% per year, I would stay away. Imagine after two years of finally getting your business where you want it, yet, your lease is garbage, your landlord bumps your rent 20% because "you're successful now, you can pay more" is not a strong position to be in. Hope that helps a little.
So what is your plan if someone jumps at you while you are collecting money from the vending machines or the machines? What are the best ways to prevent the collection robbery or thieves? Do you have any tips to share about how to make a laundromat or any other business you have profitable? You inspire me, thank you for showing us what you do. Stay safe!
There's a local laundry mat for sale and I've never owned a business but would love to know if a laundry mat is a good place to start? Also I don't know how much is a good price for their asking 450,000 and i live in a smaller rual area.
Hey man do you keep the laundromat open 24/7 and do you have anyone running it when it’s open or is it unattended? Thanks for the content it has been interesting following your journey.
I had a Friend The Moved From Chicago To Central Florida And Purchase A Laundromat Next Door To Where I managed A Propane Gas Company. We Sold Electric & Gas Appliances To Include Selling/ CoOp! My Service Men Would Repair His Commercial Appliances Gas Dryers, Electric Washers & Usually Gas Boilers As We Did For Prior Own! I Read Where Someone Mention Wash Dry Fold Was A Money Maker But In Addition He Made A Deal With Seller He Purchased The Laundromat From Who Also Owned A Commercial Laundry & Dry Clean Business! My Friend Had The Rotating Rack & Sliding Door For Pull Thru Drop Off & Pick-Ups and The Commercial Cleaners Picked Up Dirty & Returned Dry Cleaned Clothing! This , Along With Wash Dry folds Helped Pay For Employee Their All Day!
I found your channel through an iFunny feature and I gotta say this is the kind of content I've been looking for for a while now! I don't know if you have any other streams of revenue but what I think would be a good idea is buying a cheap house to flip and sell, invest that money into a couple more houses and buying a laundromat to generate more money while I work on flipping houses and renting properties during the day.
@@InvestmentJoy I actually just got done watching your video of the horrible tenants you guys kicked out(the video was posted Jan 6th). If you got a video of it somewhere I'd love to know how you got started cuz this, in all of its "glory"(lol) sounds like the kind of life I'm looking to create for my family and I.
I used to run my family’s laundry mat, when the economy is good, the gas prices are low and your machines are new you can make good money, but when the gas prices are high(Iraq war killed our profits with super high gas prices) and machines need more and more repairs and replacement, it’s hard to make money, we just had no luck
You need a plastic bucket with a metal handle to put your coins in. About a 2 1/2 gallon bucket. Works Awesome, I have used them for years collecting coins in machines. Best Wishes
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](/img/tr.png)
I use to own a laundromat in Chicago. Made good money. One of the best things I did was hire a person to do laundry. Charged 1.00 a pound. For wash and fold service. It was a god send. 1. People didn't vandalize b/c someone was there while it was open. 2. The wash and fold service more than paid their salaries. People who actually had their own washers and dryers came in all the time just b/c it saved them so much time.
@Byvägen yeah we toyed with the idea of adding something more. It is all going to depend on the area you are in. Some areas that simply won't be a good a idea. I have seen places in SF with a bar on the otherside. Going ong to depend on the location, space, and most importantly the type of clientele. The biggest thing that put us off was the liability. For insurance purposes you have to very specific what they are renting. You want to rent just the space they using. That way you dont have patrons using folding tables as places for the coffee and etc.. So as soon as they walk away with that coffee or taco everything else becomes your liability. Drop the coffee on a running kid. It's in your business then. Slip and fall after buying the coffee, it's in your business. Leave on a or have a faulty piece of machinery burns your olace with there's. Insurance won't cover it b/c you didn't let them know. If you did you are going to get hit with the premium increase. If you have the space to put up a wall that makes since. At that point just add a separate entrance. Every person I talked to advised against it unless I could wall them off in someway.
@@jamalpeoples3736 I've always thought it would be a good idea for some laundromats to add a play area for mothers so their little kids could be occupied while they do laundry. A laundromat attached to a grocery store or gym would also be a good idea, then people could shop/exercise while their clothes were washing.
@@WindWipper a play area is a horrible idea. Liability is the the name of the game. No added cash value, yet tons of opportunity for injury.. In and out is the way of a laundromat. Anything that keeps them there longer is bad. Are they going to stop shopping or exercising to change their load? Are they going to get out of a line at the deli counter to put clothing in the dryer? Are they going to jump out of a zoom class to check and see if their dryer has stopped. Are they going to skip the shower? You need something were they can step away quicker check in a couple of seconds and get back to what they are doing. Bars and coffee places work if they are separated and you can just walk thru a door. Gyms and grocery stores would crush your laundromat especially during peak times. A ton of laundry just sitting in machines not making money. Location, cleanliness, safety, and working machines is whats needed in a laundromat. Almost everyone has tablets and phones for media consumption. You would be better served adding comfortable seating more charging outlets and teaming with a company that will give free movie codes with ads as long as they are on your wifi. Would cost very little, add almost nothing to overhead or liability.
@@jamalpeoples3736 Ah, makes sense. I was just thinking that some parents bring their little kids anyway, so why not give them a small place w/ a table to color coloring books, play w/ small toys, that sorta thing. Might make them more likely to return business. Providing wifi would be a good idea. On the other stuff... i guess you're right, not everyone is as conscientious as me about time. ; )
Did you partner with any businesses in the area? I know for drop off service, this could lead to a lot of profits if there are other local businesses like restaurants or hotels that dropped off to the laundromat
A booby trap knife. At a laundromat. Wow, now I’ve heard it all.
It doesn't surprise me
It had a boobie on it...
Looks like a lot of work for about $800 a month. But a profit is a profit is a profit.
@@wkjeom to be fair, he's in ohio. Places like NYC would have a greater profit due to higher cost of living. ANd THAT's what it's all about. Cost of living.
Thank God that you have a means of Living ; While giving a good service to others.
Will 🙏 pray for you and hope the criminal element stays away from you. THANK YOU FOR SUPPORTING YOUR COMMUNITY WITH AN ESSENTIAL SERVICE...HANG IN THERE...TRUST GOD...
PROVERBS 📜 3 VS 5 THRU 7...
Remember when you were a kid and smashed other people's property with a hammer, and your parents defended you? Me neither. I had good parents. And a life.
Generally seems like people with worse parents end up extremely successful or extremely unsuccessful, wonder what the factors for that are. Certainly seems like that should be different though. It's an interesting problem to solve because you can't just take kids from their parents and letting the parents do as they wish disadvantages some kids.
Lol right
@@compactcow there's some people that grow up in a bad situation and it motivates them to do better while other people to think that that's just a lot they have been dealt in life and stay that way. I wish there was a solid way to determine how to make more of the one type
Lucky you
@@kjjunior7918 easy for me to to, not so quite for others.
I was not expecting him to say “My best repair man DIED”
KennPlayz ha my mechanic for my car died
I taught his brother was his repair guy
Chris Smith hilarious! super sad Tragedy = funny ha ha
@@ev6304 thought so to.
Yea its 2020 but why not use a different word instead of "Died" or is "Dead". There's no respect or empathy at all
I would highly recommend the wearing gloves and getting a concealed carry license
Why the gloves?
@@SirRickyMcD lol
@@SirRickyMcD germs
I think he mentioned that he carries when he gave Meet Kevin a tour
yep!
Laundry mats are a service to their communities. We should appreciate having these to use and respect the equipment, on site staff and the management.
Those CCTV screens need a "Smile: You're on Camera" sticker, lol.
Guilty people always look for cameras
I would look into a security company that can monitor the cameras there remotely. Yes, it would be an added expense, but if you keep getting breaking into, and your equipment gets damage, you can't be at that site 24/7. Especially where he said he is having newer equipment installed, you want to keep those machines up and running. Plus, and another HUGE factor, if people don't feel safe in your business, they will stop coming. Bad neighborhood or not, something needs to be done here. Just a thought. Great video though, I love him emptying the machines and collecting all the change, I wished I could do that. :)
You missed the video where they stole the you're on camera sign.
@@InvestmentJoy Oh...
Investment Joy lol
Working for an Apartment maintenance company in the greater MSP area as a Tech, I came across a unique laundry at a very "rough" apartment complex.Only one machine took money, then dispensed a card that worked in all the machines, (candy,Pop, soap, etc). The complex manager explained to me that vandalism and theft were zero now in the laundromat. The only cash on premises is in the "safe like" Card dispenser. Plus once they purchase the card you have captured that money. It's not quarters, it's yours. FYI
familiar with them. A convenience store next door to my old building was in an area of high-rises and older apt blocks. You went in there and "loaded" your laundry card with bills/coin, or cards - debit and cc. Very convenient, very secure. No vanadalism of any of the machines on this paycard system at all. Losers. Losers. Losers. Thieves, vandals, making life difficult for everybody else.
This is what my apartment complex does in Rancho Santa Margarita, CA and it's so much better than coins.
Like old token machines, and since you canKt use that anywhere else folks are always coming back to use up that last bit then add more on to finish and the cycle repeats.
Its been a fun adventure watching the Laundromat series. Definitely one of the weirdest yet most enjoyable of all of youtubes random recommendations!
There's a complement in there, right?
It has not been, it will be.
@@InvestmentJoy Absolutely! I mean, I dont think anybody deliberately searched for laundromat videos, yet here we are every upload just waiting to hear what wacky things happened this time! Also, seeing the nuts and bolts of the business side has been hugely educational. Most property investors and managers on youtube tend to shy away from such detailed breakdowns of monthly revenue which is sad because its an invaluable tool for aspiring small business owners. Keep up the good work, and hopefully the next video or two we will get to see the new laundry equipment!
Reminds me of my PTSD inducing days as a vending machine owner. Glad I sold in January pre-pandemic.
@@InvestmentJoy I always thought about buying. a laundry mat, so I just subbed to you and I'll have a great time watching this series :)
I've always heard that a laundromat is a lucrative business, PROVIDIDED that the proprietor owns the real estate that the facility is operated from.
You have been one of the few who said something worthwhile. Thanks
Any business that is brick and mortar, is much more lucrative if you own the property for so many reasons. The main one being taxes.
@@BreuckelensFinest No. The main advantage is not having a property squatter demanding a bigger and bigger cut of your profits!
@@David-lr2vi That's why you wanna draw up a contract for rent
@@David-lr2vi That doesn't even make sense. Why would you open a business without a contracted rent lol
The fact that you don’t feel safe in your own laundromat, even in the back. Hopefully that changes.
Jacob Kresky if you knew what city this is in to say you don’t feel safe anywhere in it is ridiculous lmao. A grandmother could walk downtown at night and be completely safe
@@neotheone47 which city ? Lol
@@trustnobody7618 clitville
Needs a gun or something
@@neotheone47 what city 🌆? Compton?
Am I the only person who wants to know the story of Post Malone breaking his coin machine?
Me too
I just checked, it was a dude that looked like post malone so he got the nickname
no
He's being sarcastic
I used to own a laundry mat and my daughter was 5ish and she used to say my mom doesn't have money all she has is quarters.
If you want customers to "love you" install an "extractor". It is like a super spin cycle stand alone machine that reduces dryer time. The wise will use it and of course it's not free. Bonus for you is lower maintenance cost of dryers as lighter loads go in the dryers.
We have a few now.
What exactly is an extractor?
I love the laundromat where I live, it is always manned by a human being, it is very clean and the owner really keeps out the riff raff. He even doesnt have change machines, you get your quarters from him so people dont come in and get quarters for the meters.
my friend owned a laundromat he switched it from an automat to a manned laundromat he hired one full-time person and himself he was able to make more money because there was no damage ever done to his business after that. he also changed the 24-hour operating hours to 15 a day and he actually made more money if you give people a deadline they might do their laundry in a timely fashion anyone coming to do laundry after 10:00 p.m. is probably shady to begin with you don't want those people in the automat after hours plus you're not there to handle problems with the machines which sometimes spins people out of control if you have someone there to handle it it saves a lot of aggravation in the long run. however it might just be his area I know that the changes he made help them net profit a lot more per month.
Hey question for you or your buddy I want to hire someone but how do I do so? As in paper work and taxes for them or does that not matter unless it’s a company? Can I just pay them cash or direct deposit? Thank you if you respond
WTF it's been a year? I can't believe it. I haven't done anything in that year. Better get my ass moving soon. Great job Brandon, I love watching your videos and congratz on the 1 year mark!
Lol he motivated me to start my own business, next month it’ll be a year for me
"Hitting things makes things better"
~Sun Tzu, The Art of War
very good book
or technoblade refrence
I think it was originally in the ten commandments
Asian parents be like
@@tomholmes5242 Just like the saying
打是爱
Which means they beat you because they love you
This laundromat is located in my hometown Chillicothe, Ohio. It’s hard to believe I stumbled upon this in my recommended videos, but I’m glad I did!
There's a small town in Texas also called Chillicothe that I used to drive through when heading west to college, I had no idea that there were more Chillicothe's out there
I live in Chillicothe Ohio as well and stumbled upon this life’s crazy 🤣
I thought this looked familiar
I'm still rooting for you. You are living the dream and making it work even with the ups and downs. Sorry about the tree in the house. Would you believe that has happened to us twice in two separate houses. 2006 and 2017.
I'd believe it.
I did laundry there in 1993. It hasn't changed, except the pop machine in front.
Steve La Dedha 🧢
Well. No wonder everything there is breaking now.
Enjoyed this video (and the previous one) about owning your laundromat. I get a little freaked out when you go collect the earnings their a l o n e--- without someone (or more people) to accompany you, who could serve as Security. Even being accompanied very discreetly without necessary showing up as a "group" together, or with anyone, but having your people very very near the facility to keep an eye out on you from the outstide. I'm sure the area is still pretty safe, but please don't underestimate allllll aspects of security that could be really helpful, including the installation of e x t r a high def cameras externally too (even at the side or rear of the building), along with a real deal, heavy duty security door for your office inside. I absolutely don't want to freak you out, but you can NEVER be "too safe" or hardcore about extending your security measures nowadays because people are crazy. Your channel is great and thanks so much for sharing all of your business experience and knowledge with us. Take care!
I like your silliness that's why I keep coming back
Glad you do
Man, i run a laundromat. You're doing so many things that i hope you're talking extra precautions for. For instance, have at least one other person with you, especially for the outside machine. Ideally, it's best to lock the doors when you're opening anything that takes bills, especially the changer. At the very least, have someone watch your back while doing it. Also, invest in a changer that stacks the bills instead of opening a box full of what looks like shipping insulation. They aren't that expensive
Thanks for being brutally honest with what you’re going through running this business.
I’m new here and I love doing laundry. It smells good and I find it calming.
800 bucks a month - how many hours did you spend for that.. including repairs and money collection, etc ? thats the part everyone wants to know
Bro he made way more than that. It’s a cash business. You think he reports all that on his taxes? Yeah right. He made this video for the IRS.
These rappers need to watch this video
That's after he paid all costs outside the laundry mat also. IE: His mortgage, regular bills, etc. Considering he only needs to come in once a week to collect and it pays for his life as well as itself (most of the time), if he has another full time shop/job then he's making good cash. Also, considering his mortgage, it's cheap where he lives so yeah. He's doing just fine.
all that matters is that your money is working for you.
@@Yaahboi52 same thing ur moms tell me
Hey running a laundromat doesn’t sound like a bad idea, “people steal a lot of stuff and cause damage.” Ok that’s not that bad “we’re basically breaking even” ok I’m out.
his car wash's are making good money though it seems.
The sound of all the quarters hitting the bucket is strangely satisfying. Great stuff, keep it up!
I was at a laundromat in Oregon recently that had all Electrolux machines... worked great. They also had debit / credit card readers on them on top of cash... best laundromat we’ve used in years (we normally only use them on vacation and for our sleeping bags.)
I must say this has to be the strangest youtube video series I have witness so far...and you know what? You're alright Brandon.
Yay
If you want more strange recommendations, check out GeoWizard. He walked across Wales in a straight line last year.
can imagine how expensive that would be
I don't find it strange at all. He's just showing us a business he runs?
@@Dakid015 And as I said, I'm alright with it.
Maybe it’s just me but looks like it lost money. The “Rent” category is what I’m obviously not picking up on. Do you pay rent or you collect rent? “Rent” is wrote in red as to be a deduction/cost, but the $1100 is in blk as to be a profit/income.
I thought the same thing
He must be getting rent, he wouldn't pay rent and a mortgage on the business.
@@LikeSilver1 - Yeah. Renting out a space next door maybe?
@@joesmith3501 my thoughts exactly, if you look at the thumbnail it looks like there might be an something attached to the business.
Yeah something add up
If I had the money, knew a good existing location, and the owner was willing to sell; I'd absolutely start a turn-key business like a coin laundrymat.
This video series killed my desire to buy a laundry mat.
😁😁😁
same here. only 800-1000 dollars a month isn't much at all. guess I'll stick to my day job that brings that amount home every week.
@@tribulation138 that's 800-1000 passive income though. you're trading more of your time for money, he isn't. the most he'll do is check up frequently.
Got to get up either early in the morning or after the Laundromat is close to do the stocking, cleaning and collection work. Plus, vandalism is a negative to your cash collections. I think it a tough business especially in rundown neighborhoods.
@@Agent77X too each their own
I'm so glad I got recommend your channel when you started to do the laundromat videos thanks for making the great videos.
Yay
Always love a good laundromat collection video Brandon. You have inspired me in so many ways. I tell my family that not a day goes by that I don't think about doing something like this (or real estate investing).
Who'da thought, a business that services the poor has vandalism issues.
When you hit something to fix it it is called percussive maintenance
In IT we it call it the 'Technical tap'.
The most out of pocket comment I seen
there's something strangely gratifying from seeing someone collect quarters like this.
Lol I tried leaving this video a couple times
Asmr
I service coin laundry,I am surprised that your top loader does not have metal sleeve for the coinboxes..those are a type of vault system to deter breaking in
I used your link for M1 and am now an investor. Thank you!
Hiring someone to work there at all hours cleaning and or selling detergents will increase profit by a lot and reduce vandalism
Love that quarter counter, I bet it saves a lot of time counting... I find the more machines I'm getting the much much longer I'm sitting around counting quarters...
weigh em
@@drundbro12 Yep, that's what I did as a manager with BBB; weight the bills and change of six registers in 15 minutes.
I am afraid this guy might have the key of my heart.
Lol
So, ........ the question is : If you had the chance to own a laundry mat again , would you do it ??
4:25 “we normally keep people in there”😂😂
🤣🤣🤣😂😂😂
Glad your family is safe from the tree.
Me too
It’s kind of satisfying to watch that machine count the quarters.
Man I’m really sorry to hear about all the stuff going on, hope everyone was safe with the tree falling on your house. Best of luck through all this craziness!
Just found your channel. I work for a laundry company and we repair commercial laundry equipment for hotel, hospitals, laundromats etc... Best idea to get rid of the top loads. Dexter is a good brand however just keep in mind tech support can sometimes be of issue. Any alliance brand is good Speed Queen, Huebsch, Unimac. We are Wascomat dealers they are good as well. Tech support is okay. If you ever need anything with an issue you cant figure out feel free to reach out. Cool to see you doing this and me having a little knowledge of it. Keep up the good work
I know a guy that his father owned a couple of them and he told me that his dad had 5 gallon buckets filled with quarters hidden in his garage,yeah,he was making some money...lol
It's true, the money is there. I helped my dad run his laundromat. I would use to a 5 gallon bucket and almost fill it with quarters from all the washers and dryers, I would quickly do it when nobody was there. When my dad would have the time he would count all those quarters in one or two buckets full.
@Chet Muggins: Many times I only had time to only get to two rows of washers or dryers before people would come in. It would take about two or three weeks to fill a 5 gallon bucket of quarters which we would count and put in cloth sacks to take to the bank.
@Barack Obama 1964 quarter. omfg yes!
I have no idea how you ended up in my suggestions, but I've only watched two videos and now I'm a subscriber. Love your honestly, work ethic, and fun videos.
legend has it, brandon keeps post malone in the mystery closet.
DO NOT GO AROUND TELLING PEOPLE THAT
My dryer died several months back and I am thankful to support my local laundromat places so I won’t have to deal with maintenance crap.
I’ve got a couple of questions:
Do you have any idea how much you’d make on average, and then with that how long it would take to break even from the overhead plus maintenance?
The second is at what point owning all of these vending machines is it worth your time to collect all of these manually?
The first questions was referring to both the vending machines and the laundromat.
I know it’s an old video so im not really expecting a reply but thanks regardless.
Laundromats have had a special place in my heart,one owner I knew had a mat cleaning business for local companies,he made money cleaning their rugs,towels!
Yes that is legitimate business.. which blew my mind that a company would come on weekly basis to clean& swap out company door mats when work for the hospital
Great video! This has been awesome for me looking into purchasing one of these after I retire from the military. Glad you and the business are ok.
Hope it works out for you!
Yes, finally a new video from you. I hope you, your family, and businesses is doing well. Stay safe mate and more videos!
Thanks, you too!
2:20 : Hitting thigs will make it better
Alcoholic dads when they see their wife:
Valuable life lessons, from one generation to the next 👍🏽
So Im a tech guy. Im guessing your in a low income area. In DC, the rich white parts of the city are going cashless. Can you workout a system where customers come in, pay at a counter, you load funds into their a card, hand it to them, and they use the card to complete transactions at either the washing or drying machines of their choice? You could also program the card to have an expiration date, so if they deposit $10, they would have 24 hours to use up the funds or else it expires which eliminates theft since they would use up funds each visit and then either return the card or they keep it and you have data as to who your customers are and their spending habits.
All the equipment would be locked down/away with minimum ways they can actually be touched, think of it like an iphone display at like a T-Mobile or Best Buy store.
Yea it would cost more in terms of equipment but once your up and running, you would save a fortune on maintence in the long run.
"One of these days I’m gunna have to go in their with a coat hanger and fix it" are we still talking about coin machines? 😳
pretty sure I heard a silver quarter in the counting machine. Once you heard it you'll always recognize
to decrease the currency in the facility I would convert the machines to run on tokens. That would narrow your defense down to 1 machine that would dispense tokens for dollars. Then you just recycle the tokens from laundry machines to change dispenser.
The problem would be having to order in more and more tokens. Limited number means limit sales. Some people may keep the tokens.
Also its never good to keep your eggs all in one basket
Kaelan Corpus if someone keeps the tokens you make more money? I’m sure a token doesn’t cost 25 cents
@@ohioalarms8364 gotta keep replacing tokens. Not worth the extra effort. Plus when u run out u cant make anymore money until you restock the machine
@@KcTc344 I know this is 5 months old but agreed, going cheap 95-98 percent of the time is never worth it, sure tokens may be cheap as heck to buy but when you run out for any sort of reason ya can’t make anymore money money til you get more
Their was this one laundry mat I used to go to where they had cards you upload money onto threw a machine and you used the cards for the washer and dryer, that seems like more of an efficient way to cut down on money in the building
@@zacharysolano6375 cards do sound alot cheaper to replace than tokens👍and it doesnt have a refill limit like the tokens
"Hitting thing's will make it better"
Tgat seems like the solution to a lot of things at the time
I would not take their pics down... Hell no....!!!
Oath, let the bastards suffer the guilt of everyone knowing what they did
Little shits. Public humiliation works every time
why
Your "OK Google" triggered the assistant on my phone lmao.
At the laundromat that I use they switched to a card system. wouldn't that be a better system for you?
not when you are skimming off the top its not
Wow people try to vandalize over saving 20 cents. 🤔
Respect to your hard work sir
That one machine had cash all over the place and it looked like you were picking up trash. I'd like to pickup trash like that. Nice vid.
Amazingly smart to show exactly the amount of cash you pick up during a collection....I'm sure that's an excellent way to prevent getting robbed. Well thought out! 👍👍
Thanks! So far so good, nearing year #2
@@InvestmentJoy hey, didn't mean to come across rude....I'm genuinely concerned about safety, you're a funny guy and creative. Just concerned...that's all!
“Hitting things will make it better”
~ my mom
Small business owbership is always underrated and envied by many. Good luck with your business! Security cams are always a good idea.
Don't feel bad, we had a rape and murder occur at two laundromats in my city. And at a third the entire business flooded. Vandals are a common occurrence at laundromats.
I agree with your thinking of placing the better maintained machines in your trailer park laundry. other then that cant wait to see how you decide to improv the laundromat.
4:25 "we normally don't see back there because I keep people in there I mean...." lol hahaha did nobody else catch that.
We did 😂😂
Hi! May I know how you started? How much was your first machine, what kind of machine you bought, what was your profit and all that stuff? Your videos are very inspiring. Thank you! ❤️
with the national coin shortage, are you able to keep enough quarters in the laundromat to keep the change machine full? What percentage of quarters disappear from the laundromat a month because people get change and do not use it all there? Any idea?
Yes, with the quarter pusher we run a surplus (Without it, we run negative).
Investment Joy so in other words due to gambling, uh I mean games of skill, you keep the micro ecosystem liquid in cash reserves?
😜
@@evilspacemonkeyman maybe
I'm thinking of buying a laundromat as my first investment. This channel has motivated me to doing so
I love the sound of the coins when they hit the bucket
Has a very Vegas-esque appeal to it, yep.
Yay! Brandon’s back!!
"The closest of mystery. That's where I keep people-- I mean supplies." *Coughs nervously*
Bruh I don’t know how to tell you this but just owning a laundry means all the negative energy people wash away with the tools you provide them now lands on you - it’s up to you to redirect this energy elsewhere
This is why your life is so hectic ❤️
Owning a laundry is easy money because it comes with a price 💸
2:19
I tried that with my wife and now she's gone. Your advice worked!
Hol up
🤣🤣
With just a retail job I was kicking tweakers out of the dumpster. I could never run a business like this that could be hit by boobytrappers and vandals. Kudos to you man
It's sad that the cherry tree fell on your house. I just planted one the other day - has not produced any cherries yet.
I'm a commercial real estate broker in San Diego. A local laundromat owner installed card swipers and his sales went up 30%. Also, his location is adjacent to one of the most expensive communities in the country and he still deals with tweakers and all kinds of madness.
Do you think it's worth it in CA?
@@randomdude3646 I don't know much about income producing businesses like this. I mostly sell apartment buildings and assets like that. But the business model of a laundromat has intrigued me. When buying or starting any business, I would look strongly at your lease. If the landlord will not give you multiple extensions with built in increases of 1-3% per year, I would stay away. Imagine after two years of finally getting your business where you want it, yet, your lease is garbage, your landlord bumps your rent 20% because "you're successful
now, you can pay more" is not a strong position to be in. Hope that helps a little.
@@robwithrbk ok thx
Been watching this since start you growin man
Thanks!
Same
I have been to
I would get an acrylic locked hanging for ‘wall of shame’ it’s worth the money for them to not rip the photo off
Damn started watching you a year ago lol
So what is your plan if someone jumps at you while you are collecting money from the vending machines or the machines?
What are the best ways to prevent the collection robbery or thieves?
Do you have any tips to share about how to make a laundromat or any other business you have profitable?
You inspire me, thank you for showing us what you do. Stay safe!
just keeping up with those keys seems hard enough.
There's a local laundry mat for sale and I've never owned a business but would love to know if a laundry mat is a good place to start? Also I don't know how much is a good price for their asking 450,000 and i live in a smaller rual area.
Hey man do you keep the laundromat open 24/7 and do you have anyone running it when it’s open or is it unattended? Thanks for the content it has been interesting following your journey.
I had a Friend The Moved From Chicago To Central Florida And Purchase A Laundromat Next Door To Where I managed A Propane Gas Company. We Sold Electric & Gas Appliances To Include Selling/ CoOp! My Service Men Would Repair His Commercial Appliances Gas Dryers, Electric Washers & Usually
Gas Boilers As We Did For Prior Own! I Read Where Someone Mention Wash Dry Fold Was A Money Maker But In Addition He Made A Deal With Seller He Purchased The Laundromat From Who Also Owned A Commercial Laundry & Dry Clean Business! My Friend Had The Rotating Rack & Sliding Door For Pull Thru Drop Off & Pick-Ups and The Commercial Cleaners Picked Up Dirty & Returned Dry Cleaned Clothing! This , Along With Wash Dry folds Helped Pay For Employee Their All Day!
In the long run is it really worth it with all the headaches you have from dealing with scum bags
It's semi-passive so yes.
I found your channel through an iFunny feature and I gotta say this is the kind of content I've been looking for for a while now!
I don't know if you have any other streams of revenue but what I think would be a good idea is buying a cheap house to flip and sell, invest that money into a couple more houses and buying a laundromat to generate more money while I work on flipping houses and renting properties during the day.
Thankfully I have 139 rentals :)
@@InvestmentJoy I actually just got done watching your video of the horrible tenants you guys kicked out(the video was posted Jan 6th). If you got a video of it somewhere I'd love to know how you got started cuz this, in all of its "glory"(lol) sounds like the kind of life I'm looking to create for my family and I.
I just watched a dude collect coins from a laundry mat...who wants what I’m smoking? 😅
I used to run my family’s laundry mat, when the economy is good, the gas prices are low and your machines are new you can make good money, but when the gas prices are high(Iraq war killed our profits with super high gas prices) and machines need more and more repairs and replacement, it’s hard to make money, we just had no luck
Your videos inspire me to try invest into things like this when I leave collage
Collage..
collage...
Collage....
You need a plastic bucket with a metal handle to put your coins in. About a 2 1/2 gallon bucket. Works Awesome, I have used them for years collecting coins in machines. Best Wishes