Cost Of Buying Laundromat Machines!$! | Following Keenan !
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- เผยแพร่เมื่อ 14 ต.ค. 2024
- Cost Of Buying Laundromat Machines, had a viewer ask what is cost to build laundromat machines. So in this video while I'm changing out the laundromat I built. I go over costs I had from machines to structural work.
Change Out$$! | laundromat$! | Following Keenan ! Change Out video is the 1st in laundromat series of change out / money collections in the 1st laundromat. I had a viewer want to know our passive income that each type of laundromat machine makes a week. So over the next few weeks as I change out our income from the laundromat. You will see what the different laundromat machines passive income. Collecting money is not a normally everyday job in any laundromat.
Meet in VEGAS at my "Roundtable Summit!" Meet and hear from @Investment Joy , @Hot Dogging with Dan , @The Williford Brother's , @Splash Em Out Laundromat , @Chock Full of Quarters , @Following Keenan ! , @Car Wash Chronicles , and many more! 📞 (JAN 2023)
✔️ www.freelaundr....
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Thank you!! Something distributors don’t f***ing do is share pricing!!
Also like the fact that you take us behind the scenes instead of just showing us the pretty picture.
Hey Keenan. Been following your channel for a little while and subscribed. Have you ever thought about doing a video in how to get started in the laundromat business? How much down and start up costs? And Pros cons that sort of thing?
Wow, I just learn something from this video. Lint Loop, I have 9 dryers and wonder where all the lint comes from in behind the dryers and when I look at my setup that explains everything. I think I need to put some directional diverts on the exhaust to get it away from fresh air intake. Thanks for your informational videos, keep them coming.
thanks for the tips. I liked how you broke up the prices per machine. I was thinking of opening up a laundromat, but its a lot more complicated than I expected. Bit worried about vandalism also
So much more USEFUL information about ownership costs than other laundromat TH-cam videos! Thank you!
Great prices on the dryers. You can’t beat 18k. I wished I had my TH-cam channel when we bought all the equipment from a mat in Dayton Ohio. 6k for 30ish machines. After we bought it the guy told us he had a guy come in and quote it for scrap if we fell through for 2800. 😫
Used equipment is like used cars. Let someone else take the depreciation!
Excellent video and amazing information! Thank you!
Love the info. I have been doing a lot of homework on the cost of machines. This was very informative. Thanks for the heads up.
No problem!
Awesome. Thanks for the info on how you do it! Now I know that I want slightly used 3 phase equipment and I'll probably have to power coat my machines. Great information!!!
Thank you so much for sharing this info with us. It's very insightful. Am looking for ward to invest in a laundromat in Africa and I pray to achieve the goal.
make it real
Same idea bro how’s it going
Most of powder coating is cheap to do as the gun to apply it and the powder itself are cheap with the expensive part being an oven large enough to fit the part in and hold the temp for the amount of time needed. The fun thing is you can build an oven to do it using the salvaged coils out of an electric oven or two inside a rockwool or other high temp insulation box with a external controller to turn the coils on/off as needed to hold the temp. Figure make yourself a box big enough to fit a vending machine and you will have all the washers/dryers covered in size for when you need to freshen up the look of them.
Thanks for the lint advice. I had a huge hole in one dryer 10” duct pipe.
wow, very informative, so much that usually business man would not talk. but you are really helpful. thanks a bunch again
I been seriously considering starting a laundromat. But I can see I'm more clueless than I previously thought!! Wish I had some help. Thanks for the videos man. i'm subscribing so I can see what else I'm clueless on. lol
This is the kind of video I've been looking for ! Any tips on decent dealers ?
I DO like that sound that money makes! Keep it up Keenan!
Thank you for the great information. This is what I a plan to do when I retire. I would like to pick your brain more about how to get into the business and future thoughts. Agin, thank you and the information was great.
This Video on Washer /Dry cost of New/Use this is the Best input on this business it take money to make money .
🤔Now need to find a way to bring more people in to do their laundry here ?
Anyone know how to bring people in to laundromat ? The place is so clean too !
if your laundromat is right on the road then your the advertisement is already covered. but if it's in the cut or hidden then some signs would need to be put in place, probably a very large one directing people to it. the best advertisement would just be the people needing one in the area. make sure the sign on the actual building is nice and large with bold lettering
Offer free soap, maybe a fresh paint job, maybe a security guard
Thanks for all the good info. I've always wondered about the prices of new machines. I can find prices of used machines, but would have to call a distributor to find out about new. And I don't even own a laundromat. YET.
You are so welcome!
Where do you find prices for used washing machines? I’m looking at an old laundromat distributor quoted me 300k for new machines plus installation... I would rather start with quality used machines first.
Great job sharing all that information with us. Thanks.
Great video. Absolutely Unlike any of the others I've seen.
"everything's gunna cost more" ha dude wasn't wrong
Extremely helpful. I've never seen this detailed of coverage for laundry mats. I've been hearing they are a good investment and can make anywhere from 10k per month to 100k and beyond.
I met someone locally who owns one as well.
I'm 100% interested in owning one or more because some say that it's a safer and less hassle investment than rental properties. I'm still comparing the two to see what's what.
Great info! It's been a pain to look up pricing for any machines. Not sure why companies gate keep the costs.
Would love some Unimac or Speed Queen machines.
Its been very helpful. Thanks!
Glad I could be of help!! Thanks!
Thank you for explaining everything I need to know before buy the laundromat.
Great video and love the intro!!
thanks, im wanting to by landromat downtown for 230 its a steal 6 20lbs hardmounts and 22 toploaders 20 dryers like yours ,not painted, damn looks good so nice make a huge differance.
interesting honest video my man :)
Amazing.. after hearing you talk about it I no longer want to own a laundry mat...... I don’t think I can do what u do
Absolutely fascinating thank, and honest, all the best from Ireland, Seán
Thank you this was very helpful
man thank you so much for the info. I bought a property with a laundromat. I took it from nothing to something. now its getting busy. need to up grade. so learning to fix and getting referbish machinies and getting a bang for your buck.
You have really helped me out. Thanks!
Distributors/dealers get 40% to 45% off list price. That is where you start negotiating.
Great video man thanks
Dude! You are a bad ass. Thank you.
You can adjust the heat on the dryers and the time that they run per quarter so that they do make money.....
Why not have a heat exchanger to capture the exhaust heat to pre-heat the incoming air? That wouldn't cause a lint loop and save you tons on gas.
That's A Nice Laundromat.
Thank you professor for very eye opening video so it a lot higher then i thought on the prices and i guess you really need to do your homework when comes to going into the laundromat business don't go into half fast got it and thank you
Glad it was helpful!
I guess you could say, I am the one who loves the TL machines, especially the transmission ones. :D
Hey Keenan, one request if possible. Could you one day go behind the dryers when some of them are running, and if I remember right, the intake grate will sort of show the burners, and show that the best you can?
I'll add the burner to the next video!
I have run small town laundromat for 27 years, I Still have mostly top load machines. Many customers seem to prefer them. They like being able to open the lids and add clothes or additive cleaners. I have very good business for a small laundry. One drawing card is that I keep it very clean. Lint behind dryers is a big problem at times.
Enjoy this video and info very much.
I appreciate the candor.
I washed a king size blanket and a laundromat last week. Boy it was spick and span with stainless steel Dexter washers. Ever since then I've been thinking about precuring a laundromat.
But I cannot help to think that most people have washers and dryers in their residences. It's hard for me to fathom an area that isn't already saturated with laundromats by apartment housing.
This pretty much leaves me the only option to purchase an existing one which is pretty price prohibitive. I'm also seeing for the most part that you have to pay five-times earnings to get a laundromat.
Nice interior of the laundromat😎
Thank you for helping me with my homework…. I am seeking my eyes on buying a laundromat…
Do ever worry about your own safety when late nights and collecting change.
here in 2022 and just confirming you were right about your economy prediction. :)
Thanks for your help❤
And where are you located Because your videos give a great detail on how to run a legitimate laundromat
new sub here. how do you control people overloading the machines if you are not there? I am researching to start my own laundromat biz and searching for answers
You cant. That why im a big fan getting the largest machines 60, 80, 40. So you dont have to worry about it. And customers have a great experience.
I buy large dryers for the same reason.
very insightful Kenan.
Awesome Video
Thanks for this
Awesome
It’s hard for you to remember??? 😂 Yeah right… Great video Sir. This is a brand new space for me and I’m trying to learn as much as possible. “Lint Loops Suck” ✍🏾 Got it Thanks. Sincerely
Wet informative
awesome video. Love your channel!! One of these days I'd like to get into this business. Don't know how to find a place that is for sale near me though. Any thoughts on this?
I used locale realtors. Also if you see a run down one in your area. Chances are it might have a owner ready to sell. Also your locale equipment dealers are helpful. My speed queen hand my name out all the time. I get another store they get the buisness on equipment. A win win deal.
@@FollowingKeenan TY for your reply. Be safe and have a wonderful day.
The only price that surprised me - which was rather shocking - was the price of the dryers. 4k roughly, each? Good gravy!
Thank you for the information
Good information , thanks.
Thanks! Glad I could help.
Are you planning on adding in a mobile pay option to one of your locations in the future?
Not yet.
Very informative Keenan! I have a few questions. 1. Is financing all new washers and dryers in a former laundromat a viable option? 2. What kind of deal would make it worthwhile to finance? 3. What brands do you recommend? I noticed you use Speed Queen. 3. Can a laundromat be too big of a space for a neighborhood? What is the square footage for your laundromat and would you ever add more machines? Any input is appreciated. Thank you.
I'll make a video for Monday and cover all these questions. Way easier. Thanks for the video idea and great questions.
@@FollowingKeenan Thank you. That would be great.
I’m looking to buy my first one in the next 3 years. Better to build your own or buy one out right? Thank you for the content.
Buy a run down one in a great location. Busier the street the better.
Very informative
Thanks for all the info bud! The problem I’m having is the laundromat I wanna buy that’s being built into a laundromat, the guy already got new machine and told me I would have to take over the payments.
So someone building a laundromat to flip. So they are going to make 15% on deal plus pass payment off. Is there any locations near this for rent or sale? You could build a small setup near by with less out of pocket. Able to beat the competition by your low over head.
Other thing that would be an issue. Let's say they over built. I build my plumbing to support more machines. If things are great I can buy more machines. But if profit less than I'd like I cant give machines back.
One thing you need to see is commerical property is in big trouble now. This virus thing is going to cause issues for years to come on commerical leases. Most people I know with commerical spots are giving all kinds of deal to get tenants. Time in life lots of opportunities you just need to know what your looking at. Saturday video I'll talk about this.
Also never fall in love with a deal always another better one around the corner.
Also never be a Pilgrim! I'll explain that next.
Watchn this like I got money to own a laundromat 😂 I b watching everything
hell yeah i love change out videos! keep up the good work and videos Keenan!!!!
Thanks!
Man, cleaning out those dryer stacks are nasty especially those main runs to the outside. I work for laundromats and we decided it was time after about 30 yrs lol and no one planned to have them cleaned, so no service hatch to get out the build up. I learned alot on not what to do and how to plan things out.
when you say, 50 pounders, 60 pounders. are you talking about the amount of laundry they can wash wet?
No, always measured in dry clothes.
Thanks for all the insider tips .. But what's your opinion would you open up a laundromat in this economy... today is July 19 2020..or would you wait
I'll talk about this in friday video. But wouldnt you buy stock when the market is down? So why not a buisness. You need to be able to determine the value of it. Make sure your not over paying. Laundromat buisness for me has been great so far. But in the coming months a lot of property is going to be on fire sales. I think around September or so.
@@FollowingKeenan can't wait
I love this video. Great info. Ive been scouting for some laundromats and found some that fit the bill. But when I call them, they say they don’t want to sell. Yet the place is run down with no new updates. How do you get past that?
I think some people just strip mine their businesses. Either due to lack of ambition or because they just want to make it last x number of years until they reach a certain goal, like retirement
Word of the day.. lint loop
Good intel !
I have been thinking of getting my own laundromat. What advice do you have on leasing ?
Can you explain the ‘make up air’ you’ve mentioned several times please?
Fresh air the dryers need from outside to run.
why did you choose downlights in this laundrymats?
I wanted to make this place look like an old factory. Industrial look. What do you think of the lights / look?
Are you talking used machines. I bought new 30lb machines $5215 each. 20# new are $4800each. These are for Wascomat which is cheaper than Maytag and speed Queen. 62# are $10,000. I bought 2 this summer.
I have mainly have speed queen and huebsch. I have no dealer support for wascomat/electrolux.
So if you have good dealer support that great.
It's great to see how a laundry mat works. Your center is IMMACULATE.
A central pay station were yiu type in the machine number would make it a lot easier. Can also use any coins. As I've said the machine in our laundromat are seriuosly over 40 years old and they managed to hook them up that way. All stainless steel Rex machines. It's a miracle they are still going
Yes it would but in my area cards and central pay has not been good to businesses. Customers here just don't like it. Why I have no idea. How things going in UK? Here in the Midwest US we are starting to go back to normal.
@@FollowingKeenan We have had our lockdown lifted slightly in parts of the UK. Scotland and Wales are still on lockdown but England has been lofted today with some going back to work. Was great to get the car on the motorway and give it a good run. Feels almost like normal here but still a long way to go ☺ I was watching a chuck full of quarters ealier on. You were mentioned in one of your videos. I was watching their latest one were they have had to spend over a grand getting their air ducts steam cleaned as they were full of lint. Just proves if you do it right first time then it's less hassle in the long run
@@robbiecrosbie4506 i like chock but their videos are just waaaaay too long.
@@stevensenlacere1619 I know mate. Sometimes I skip 10 minutes. Keenan has just the right balance
Would you ever consider putting an atm machine or card readers in youre machines?
I need to add an atm.
Before i ever do a card reader. I would just update my change machine bill vaildator. They make bi vaildator that accpet apple pay, cards, and money. In my opinion way cheap and faster to do. Gives you customers all three options.
Thx for sharing, interesting how people like to use different types of machine, top loaders to front loader, didn’t think it would matter, does the layout of the laundromat make a difference, ie, can’t be bothered to walk to dryers or the size of machines (to small won’t use them) only like certain machines (top loaders) are they looking for snack or Soda vending machine, note /card to change machine, would these things effect how much the laundromat is used👍cheers Keenan
So why does danny D'Angelo constantly push new equipment ?
Not all the time. What he tells people is get good working equipment. If not mechanical inclined better get new. With new equipment he big on not using your own money.
As for all new if you get a cheap lease. And the owner sells the place cheap. Your better off with brand new equipmemt. Make money with minor iasues and happy customers. Vs. Broke equipmemt all the time a bad reviews.
If you would -What does your electric, gas and water bill average? I grew up in our family Dry-cleaning , tailoring and laundry started in 1915. Had a huge boiler that scared the crap out of me. Still have a few suits from my father and grandfather. Those were the days. Thanks for an interesting tour
Always wondered why more people don't buy a used commercial washer instead of that crap on the market now. Waiting for my $300 Maytag to die. I'll keep the key to the cash box so my wife thinks twice before doing a half load.
Great video, thanks for the information, where do you order your signage from?
Fast Sign! My store is super helpful on laying it out and ideas.
@@FollowingKeenan question did you ever have to deal with any kind bug problems such as bedbugs roaches etc from dirty customers
No bed bugs yet. As for the other pests. Once in blue moon i might see something. But we have our places sprayed weekly and monthly. In busy season sprayed weekly as needed. Otherwise sprayed monthly.
I find i fogure pretty quick who bringing them in.
@@FollowingKeenan cause I'm really thinking of opening a laundromat myself i live on the east coast what would be the most important things you think a newbie like myself should say get certain things in order before starting
Understand what you're getting into. Once you have a business it will be hard to unload it, if you dont like it. You can unload them but will lose some money.
Biggest thing i see is people do is getting in over their heads. Zombie Mats have alot of value add. But it needs work and you need to do it quick. Peace meal a old mat is hard to make money. Brand new mats builds are also a challenge. Both are good ways to go. Just have to understand your abilities and work you need hired out.
...thanks a lot...it did help me out...thanks
Hi Keenan! I´m preping to get a laudromat service up and running in Mexico City. Unfortunately for me, in latinamerica, folks are not do it yourselfers. So the laundromat has to have personnel. Do you still stand by your statement that for a starter laundromat I should have (3) 80 lbs; (4) 60 Lbs; (4) 40 Lbs and (4) 20 Lbs?
How many dryers? What capacity?
Also, down here, folks want they´re clothes ironed. so we would have to do that.
How much do you expect us to make at the end of the month with this setup?
Thanks for the input. Walter
what do you think of people using outlets at your place? i'm thinking of just unplugging them but some of them are smart enough to actually go behind the machines are use the outlets there... not sure what to do
If its customers I dont mind at all. Heck you want them to be happy. Where I get issues is the randoms. But I havent had that many to get rid of outlets yet.
The laundromat #3 I built is so noone can go behind a machine. I also left out the wall outlets for a reason. But my husband other 2 stores I have outlets with no reason issue. Hope that helps!
Hey Keenan. I own a mat and have some dryers sticking out of the wall like in this store of yours. I built a soffit above but it looks like a$$. Do you have any issues with the sides of the dryers getting too hot and possibly burning someone if they touch it? I would like to just remove the soffit and let the dryers stick out about 8-10inches. Thanks.
A lot of info. Nice setup.
You should do a spreadsheet of what to buy and a plan on paper for dryer set up.
Keenan, Could you do a video on your magnetic door locks. I am trying to research some via internet and I cant find one that works off an App that can be done remotely. I am looking to unlock the door in the morning and lock it at night. Not interested in opening the door for each customer.
I will.
Nice ifo
Hello sir i really like it and i really need your help to start mine... where can i start or i am looking for machineries like yours
DEFINITELY HAVE TO SALUTE U..... NOW BIG QUESTION: WHERE DID U GET THE MONEY TO DO ALL OF THIS, IF U DONT MIND?
I have old Maytag dryer all work but don’t get hot, any ideal of how to fix them.
So gas is burning but donest get real hot? In most dryers you have a 2 high temp limit sensor it maybe bad. Might not be sensor temperature correctly could shut off gas supply too soon.
i have a question where can I buy the machines at? I have no idea where to exactly look for them. Where should i look! 😁
Any laundry equipment dealer, ebay, facebook, and search on google for laundry equipment auction. Cant remember the name but it is a laundry wholesaler/liquidators.
Have to be careful used equipment is not worth alot. So always price new so you can compare.
I'm buying a couple 80lb washer for $5,000 each. New they are $11500. I know of another person paying $12500 for a 2year machine. Same machine. Always haggle!!
Asked a lender about financing
7% for 10 years with 0 down
All I would need to qualify was
1). Build out the place
2 ) get a 25 year lease
3 ) 24 hour store within a couple of blocks ,
4 ) parking for at least 40 cars
5 ) location / demographics
Must get a great location and buy the building to get the equity back vs renting
My future plan is to have machines financed and soon as they start breaking down sell them and replace with new this way pristine is nice and you can dodge servicers as you’ll be nickel and dimed
Electrolux is most efficient durable machine ,,,
Which lender?
What is the best machine for laundromat?
Dexter,speedqueen or maytag?
Dexter and speed queen. Maytag are very bad so is ADC dryers.
Do you use actual glue? Is it something right off the shelf or is it special?
thanks
For what?