Make sure to watch Part 2: th-cam.com/video/4Uh_qWSTmoY/w-d-xo.html Jeff’s laundromat success is pretty impressive, isn’t it? Do you think you could do the same thing with a laundry service in your area? We’d love to hear your answers in the comments.
The interview guy is amazing!!....he asks all the right questions without beating around the bush. The owner is a very genuine person as well answered all the questions without withholding information to help others, thats how a real businessmen grow
Hey guys, another great episode but I'm sorry the water meter thing and the IRS is just not true. I'm sure he read that online. The IRS did try this a few times back in the 80's but were quickly shot down by the courts.. . They simply do not do that, nor should anyone to assess revenue. There are way too many factors involved in order to get accurate readings that way. Thank you for bringing attention to a fantastic industry though. Enjoyed the content! 😃✈️
True. Industries that do collect cash they go by average and go from there Can make up false reports which I do Why should I give the nazis my money , duck and dodge taxes with all your heart and might ,,,, Cash is king still
Wonderful Damion. We really appreciate that and we are so excited for you and your wife. Congrats!😀⭐ The laundromat business is fun and rewarding because you also get to help members of the community with a service. Thanks so much for sharing. Please keep us up to date with your journey and let us know if you have any questions along the way.
Buying the equipment the building for a million means it’s a dump Dump means no parking and houses no apartments and or the area is saturated with laundry mats No parking no 24 hours and no 2 plus family homes he will lose Dude bought himself a job , gotta run for delivery tips ,,, Whack
Rosie wash Owners need to go Coinless Like Laundry Genius has done if they want to go Sailing ⛵️ to Baja!! ❤😊 Coins leads to Theft and isn't traceable like Card system is!! Sure Yall go to Baja I will Run/Skim some of these coins from the Business and I'm count them coins in the Bathroom 🚻 no cameras allowed in restrooms!! Card system solves those issues 😊
How do you do the drop off service? How do you bill for that service? I’m about to open and I had this idea and thought it was unique to separate myself from existing mats.
How do the wash and fold and drop off options work? If you have staff doing it, what is the cost to the customer and the wages to staff for the time? Is the ROI worth it?
Good questions Jake. We are doing some more dry cleaning / laundromat content and will try to get those questions answered in a new blog or episode. Thanks for watching!
The old place where I worked, they charged by the pound. Two employees at like $12 dollars an hour at the time. We would run client orders early in the morning before opening to the public. Get the stuff done then go deliver, then I would come back and hear about new crazy stories and load about 6 machines of individual orders. It was a lucrative business for the owners. Go for saloons, spas, and massage places for bigger payouts
He lied. Said I work 10 to 20 hours a week Bum so broke going for the tips scrounge Million dollar + investment to buy a job The only thing that went his way is he bought the building However , 1 million for building and equipment ( total investment is a million seems low or he lied about that ) that means it’s a dump location His profits owner operator would be 75K a year and would been capitol expenses to restart every 20 years meaning he bought a full time job Kid did not ask what’s the mortgage / rent and gross revenue minus operating expenses and the net income I guessed 75k for what he bought it for and absentee the investment was a major loss 100% truths
@@hellofoto can you imagine if he didn’t buy the building and was renting not getting the equity. He would had made 50k a year as a full time employee 60 hours a week like a bum
Hello Sekou, this is a great question. Please check out our website www.upflip.com. There you will find both laundromat and gas stations businesses for sale. You can search by business type, location and price range. Please let us know if you have any additional questions.
I worked at a laundry mat in San Francisco years ago and it’s not an easy business. Lots of difficult people coming in using the bathroom to shoot up heroin. Human feces in the front doorway. People breaking into the machines, homeless people leaving bags of soiled clothes. Graffiti on your building every month or every other week. The only time I enjoyed that place is when I had to do deliveries to spas and saloons.
@@alyssagourlay5421 I agree with you!!! Straight forward question , What the F%$# do you make in a year??? We don't want to listen to you talking for 30 mins, it should only take you 1 min. to give us the $$$ numbers
Did you notice the street gutters outside ...All kinds of trash ...looked like a dump outside with sketchy characters hanging out in parking lot, 270K gros sales , seriously? bought himself a job yo
4 elements needed vital for success 1) near 24 hour store 2) parking 3) 25 plus year lease 4) open 24 hours Only thing he done right was buy the building ,,,, Can’t be great if he paused all in with equipment and building for a million in los Angela’s, that means he’s in a shitty location for a good location 5000 square feet would be 1 million +
I was wondering the same thing but if you look at the first video you'll notice no one in the background is wearing one either. I was probably made before the pandemic hit. I know the upload is back in November but why they would wait so long to upload (if they did) is anyone's guess.
Make sure to watch Part 2: th-cam.com/video/4Uh_qWSTmoY/w-d-xo.html
Jeff’s laundromat success is pretty impressive, isn’t it? Do you think you could do the same thing with a laundry service in your area? We’d love to hear your answers in the comments.
Part 2 ? - This is part 2, but the link is to Part 1
Another reminder that we are not perfect and we all need a savior to get right with God
The interview guy is amazing!!....he asks all the right questions without beating around the bush. The owner is a very genuine person as well answered all the questions without withholding information to help others, thats how a real businessmen grow
Hey guys, another great episode but I'm sorry the water meter thing and the IRS is just not true. I'm sure he read that online.
The IRS did try this a few times back in the 80's but were quickly shot down by the courts..
. They simply do not do that, nor should anyone to assess revenue. There are way too many factors involved in order to get accurate readings that way. Thank you for bringing attention to a fantastic industry though. Enjoyed the content! 😃✈️
True. Industries that do collect cash they go by average and go from there
Can make up false reports which I do
Why should I give the nazis my money , duck and dodge taxes with all your heart and might ,,,, Cash is king still
He said don't try herion. I didn't not expect him to say that he's very genuine. If I was in LA I would use his Laundromat
Awesome videos, my wife and I are in the process of buying a laundromat and this helped out a lot.
Wonderful Damion. We really appreciate that and we are so excited for you and your wife. Congrats!😀⭐ The laundromat business is fun and rewarding because you also get to help members of the community with a service. Thanks so much for sharing. Please keep us up to date with your journey and let us know if you have any questions along the way.
Hi hows it going ?
How did it go?
Do not BUY A LAUNDRYMAT! U can do it yourself for free!
The best area for a business like this is low income areas.
That is true!
Buying the equipment the building for a million means it’s a dump
Dump means no parking and houses no apartments and or the area is saturated with laundry mats
No parking no 24 hours and no 2 plus family homes he will lose
Dude bought himself a job , gotta run for delivery tips ,,, Whack
@@tlouandtherest4378 Good point.
This is so true everybody and they mother in the hood good to the local Landry 7 days a week
Yes and No
In South AFrica our laudromats offer an ironing service.
I've always been interested in a laundromat or a parkade, but most important thing is population density and location. Thanks for video.
Rosie wash Owners need to go Coinless Like Laundry Genius has done if they want to go Sailing ⛵️ to Baja!! ❤😊
Coins leads to Theft and isn't traceable like Card system is!!
Sure Yall go to Baja I will Run/Skim some of these coins from the Business and I'm count them coins in the Bathroom 🚻 no cameras allowed in restrooms!!
Card system solves those issues 😊
What the name of the software he uses for his drop off and pick business
How do you do the drop off service? How do you bill for that service? I’m about to open and I had this idea and thought it was unique to separate myself from existing mats.
Great question! Where are you looking to open your laundromat?
Hello, l am your big fan and l watch your videos daily you are amazing job.
So good to hear it! Thank you for the kind words, it means a lot to us!
How do you figure
Didn’t ask about ( mortgage/ rent ) gross income minus expenses and the bottom line which is net income
Wasted time man
@@tlouandtherest4378 In Part 1 they talked about it. 36% cash on cash on net income
OMG I USED TO DO LAUNDRY THERE! I would love to meet him!!
How do the wash and fold and drop off options work? If you have staff doing it, what is the cost to the customer and the wages to staff for the time? Is the ROI worth it?
Good questions Jake. We are doing some more dry cleaning / laundromat content and will try to get those questions answered in a new blog or episode. Thanks for watching!
The old place where I worked, they charged by the pound. Two employees at like $12 dollars an hour at the time. We would run client orders early in the morning before opening to the public. Get the stuff done then go deliver, then I would come back and hear about new crazy stories and load about 6 machines of individual orders. It was a lucrative business for the owners. Go for saloons, spas, and massage places for bigger payouts
He lied. Said I work 10 to 20 hours a week
Bum so broke going for the tips scrounge
Million dollar + investment to buy a job
The only thing that went his way is he bought the building
However , 1 million for building and equipment ( total investment is a million seems low or he lied about that ) that means it’s a dump location
His profits owner operator would be 75K a year and would been capitol expenses to restart every 20 years meaning he bought a full time job
Kid did not ask what’s the mortgage / rent and gross revenue minus operating expenses and the net income
I guessed 75k for what he bought it for and absentee the investment was a major loss
100% truths
@@hellofoto can you imagine if he didn’t buy the building and was renting not getting the equity.
He would had made 50k a year as a full time employee 60 hours a week like a bum
@@tlouandtherest4378 Dunno about the rest of the info, but kinda sceptical the hours he claims. Seems very much on the low side.
What (classified) publication or resources can I use to find out if a laundromat business or gas station is for sale?
Hello Sekou, this is a great question. Please check out our website www.upflip.com. There you will find both laundromat and gas stations businesses for sale. You can search by business type, location and price range. Please let us know if you have any additional questions.
I worked at a laundry mat in San Francisco years ago and it’s not an easy business. Lots of difficult people coming in using the bathroom to shoot up heroin. Human feces in the front doorway. People breaking into the machines, homeless people leaving bags of soiled clothes. Graffiti on your building every month or every other week. The only time I enjoyed that place is when I had to do deliveries to spas and saloons.
San Francisco would seem like a tough laundromat market. Thanks for supporting the channel as always HelloFoto!!
Open the business near police department, if not don’t open one , a million plus invested
don't let the people scare you off or area. you have to be tough and stand your ground!
Yeah San Francisco is a garbage dump
That’s a San Francisco thing, not a laundrymat thing
Thank you for sharing your knowledge good sir
Great content!
where is the part of the video where it says how much is made per year?
Title said part 2, means if you got some iq, copy and paste the title including part 1
Multi language in my laundromat help me a 10% more in my situation
Fantastic journey
Thanks for watching Eddie Mo. Are you new to the channel?
Never did answer the title.
How many laundromats are located in the Los Angeles area ?
A lot?
Wayyyyy too many! 😜✈️
You’ll be surprised. Probably over 30,000
Google it
How old is the owner
Did I miss it? What does he net in a year?
Waste of time. Never addresses it
@@alyssagourlay5421 I agree with you!!! Straight forward question , What the F%$# do you make in a year??? We don't want to listen to you talking for 30 mins, it should only take you 1 min. to give us the $$$ numbers
It was. It addressed but in this industry, net is usually in the 20-30% range. Hope that helps! ✈️
@@LaundromatMillionaire It doesn’t help ,,,, we need to know the gross
@@alyssagourlay5421 totally I said same thing , 2 programs both with 2 parts and kid didn’t ask right questions
Gross and net income
good vid
Thank you Dave! We appreciate your feedback. 😀
Cool guy
Appreciate the support! ☺️
"Don't use heroin" 😱
The owner has the urge after lying about his hours , doing deliveries hungry for tips and not saying net income
Ok so much he makes?
Can you tell me what brand of washers he used?
We have a new laundromat video coming out in a week or so, you should check it out, we dig a bit deeper into the equipment !
Looked like Dexter & Wascomat to me
He said they are dexter machines
Electrolux rule , most effluent durable machine on earth ,,,,
Did you notice the street gutters outside ...All kinds of trash ...looked like a dump outside with sketchy characters hanging out in parking lot, 270K gros sales , seriously? bought himself a job yo
It’s in the ghetto
7:58
Do not Ever! Buy a laundromat this guy made a huge mistake buying this for 700k!!! U do not need to buy the business, u can get it for free!
Ive never been into a laudromat before. haha
Not many people have...
"...a lot of bigger families..." i.e. Hispanics! lol
4 elements needed vital for success
1) near 24 hour store
2) parking
3) 25 plus year lease
4) open 24 hours
Only thing he done right was buy the building ,,,, Can’t be great if he paused all in with equipment and building for a million in los Angela’s, that means he’s in a shitty location for a good location 5000 square feet would be 1 million +
how come you are not wearing masks?
I was wondering the same thing but if you look at the first video you'll notice no one in the background is wearing one either. I was probably made before the pandemic hit. I know the upload is back in November but why they would wait so long to upload (if they did) is anyone's guess.
Yeah this definitely had to be prior to the pandemic. Because I am sure Covid would have come up seeing that it has become the center of our lives.
Hush, Karen.
@@daniellewarren465 11:39 he mentions covid.
Because masks are 100% useless and only scared sheep wear them. Do your own research and you'll understand.