HAving watched a few other videos, it looks like your sheet hasn't been counting loonies for at least a few months, if not the life of the excel sheet.
GOOD SPOT! I actually don't count the loonies since the majority of them just get recycled back into the change machine, a lot of the time people will get change and then proceed to put the loonies they just got back in. I couldn't think of a good way to sort that out, so I just don't count them, but i do keep an eye on them and my machines fill rate! Thanks for looking out though, its appreciated!
So the laundromat made about $500. You can't count the cash in the change machine because that should theoretically be a net zero, customers bring in bills and you give them coins. No money is made there. The coins actually being spent at the machines are what give you your revenue. However, it gets funky because you probably aren't dumping a ton of coins at the bank, so your "realized gain" are the bills you take out of the change machine. Hence that column way on the far right that's showing up red. You're trending towards people bringing in their own coins and you're going to have to balance the flow of coins at some point. I do appreciate that you're not making it seem like you've made $1000 though, there are some youtubers out there that count both the coins and the cash as revenue when that'd be like the casino counting how much money customers deposited and the number of chips in circulation.
When i give totals its from purely the washer and dryer revenue, the cash from the change machine is just what i bring home since its easier than a bag of quarters. Usually i just hope its roughly about the same (washer revenue - cash), any cash from the change machine is counted as just what's able to leave the store, or if there's huge discrepancies that i need to go to the bank and get more change. Any time i say "my laundromat made X dollars", its the combination of the washer total + dryer total. When that column shows up red it actually means i got more cash in bills, than i did in washer+dryer revenue. Meaning that people left with coins they got from my change machine
DANG you have a good eye!!! It is a continental Girbau 30 lb Washer. I wanted to use it in my store, but i don't have 3 phase power, and don't wanna spend all the money to set it up for just one machine. I'm waiting to put it into storage, or move it to my other location
This channel will definitely be in my watch cycle.
I am glad to see the business is doing well 😄
Thank you so much for that!! I have been having a blast with working on this side project!
I have been enjoying watching the progress :)
I'm super glad! I've really been enjoying filming for them
Great Video! Some times you got to smack the counting machine a few times to make it remember who's in charge! 😂
The next video, I basically office space it into submission tbh
looking good man, keep up the good work!!
Thanks! I'm surprised how steady it's been as a new business tbh, it has a lot of stability if you do your due diligence!
In case you didn't notice, your sheet isn't adding in the Loonies column to the totals column on the change machine side of things.
HAving watched a few other videos, it looks like your sheet hasn't been counting loonies for at least a few months, if not the life of the excel sheet.
GOOD SPOT! I actually don't count the loonies since the majority of them just get recycled back into the change machine, a lot of the time people will get change and then proceed to put the loonies they just got back in. I couldn't think of a good way to sort that out, so I just don't count them, but i do keep an eye on them and my machines fill rate!
Thanks for looking out though, its appreciated!
So the laundromat made about $500. You can't count the cash in the change machine because that should theoretically be a net zero, customers bring in bills and you give them coins. No money is made there. The coins actually being spent at the machines are what give you your revenue. However, it gets funky because you probably aren't dumping a ton of coins at the bank, so your "realized gain" are the bills you take out of the change machine. Hence that column way on the far right that's showing up red. You're trending towards people bringing in their own coins and you're going to have to balance the flow of coins at some point.
I do appreciate that you're not making it seem like you've made $1000 though, there are some youtubers out there that count both the coins and the cash as revenue when that'd be like the casino counting how much money customers deposited and the number of chips in circulation.
When i give totals its from purely the washer and dryer revenue, the cash from the change machine is just what i bring home since its easier than a bag of quarters. Usually i just hope its roughly about the same (washer revenue - cash), any cash from the change machine is counted as just what's able to leave the store, or if there's huge discrepancies that i need to go to the bank and get more change.
Any time i say "my laundromat made X dollars", its the combination of the washer total + dryer total.
When that column shows up red it actually means i got more cash in bills, than i did in washer+dryer revenue. Meaning that people left with coins they got from my change machine
At 5:12, is that a Continental Girbau Washer back there?
DANG you have a good eye!!! It is a continental Girbau 30 lb Washer. I wanted to use it in my store, but i don't have 3 phase power, and don't wanna spend all the money to set it up for just one machine. I'm waiting to put it into storage, or move it to my other location
Why you hatin on the top load its just a little guy. 😥
They are just so wasteful, they burn electricity, they blow through water, and then the clothes come out soaking wet!! Bad all around