My Laundromat Just Made $4,998 In August
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- เผยแพร่เมื่อ 20 ก.ย. 2021
- How much is my laundromat making in terms of revenue, and how much are we spending on regular expenses? In this video I talk about how much money we made at the laundromat in August, and do a money collection for about half of September. We are on track to do QUITE WELL this month as well!
I have laundromats down to a science. If you want to do laundromats as well click the link:
investmentjoytraining.com
When your friends with your customers and help people out now and then with a few quarters it actually gives people an incentive to look out for the place, especially when people are damaging and mistreating the equipment..they have a personal relationship with the place..sort of like how a person who drinks loves their favorite bar..
I think so
@@InvestmentJoy hi
True
That's the cleanest laundromat I've ever seen. Good job.
Exactly and the floors are just stunning 👍
Collecting the money must be so satisfying! Thanks for the insight, it's so inspiring
I wouldn’t be so liberal with telling random people at my laundry mat how much money I make off of them. People are desperate today and it shows all over the news, be safe man.
That's awesome that you hand out quarters to people inside! So cool!
I mean, he’s getting them right back lol but still nice
I absolutely LOVE these transparent videos!!! I'm now looking for vending/snack machines & arcades to see if I can find a location for them... THANK U SO MUCH!!
Investing helpline.
Start saving for retirement early, so your money has more time to grow.
Understand your options when it comes to retirement savings account and Investments.
Calculate your net worth in a regular basis to see if you're on track for retirement. Work with a financial professional if you need help or advise.
Who are you working with? been try to get my feet on it.
Look her up online
Anouchkabalogservices
Keep grinding. I love watching your uploads.
I’m amazed. I just bought a beat up laundromat, fixed all the equipment, and I’m breaking $1200 a week in quarters. I only have 6 dryers, 3) 40lb washers, 5) 20lb washers and 5 top loaders.
I’m so busy simply because everyone says my laundromat is clean. I think that once I put in new (used, because I don’t like debt) dryers, and 5 more 40lb washers, I can easily get to $2,500 a week in quarters. I think I’m going to have to start making videos
Where are you located? How much did the laundromat cost?
@@NoNo-zf6tz
I bought the building with two attached building lots for 65k.
I just did $365 this Sunday alone. My Monday was $184, and Monday’s are slow. I’m going there now to get one of my dryers that’s been down since the beginning because I couldn’t get a basket. The old one was cut in half and everyone said it couldn’t be welded so I welded it myself. I have to install a contactor, a temperature switch and a run switch and I should be good
You fix those commercial units? Make a video next time, I'll subscribe to you if u start because I want to fix my own commercial appliances also. Thanks
@@univang1852
I’m in the middle of rebuilding 9 ADC 236’s
@@univang1852
My coin pusher I put in makes $150 a day on average. Plus my washer and dryers up to almost $300 a day with the limited equipment I have.
I got a visa Electron over a decade ago because the laundromat at the student housing only accepted those cards. For the machines.
You should change the code to your door. The position of those numbers is the same even if you make those numbers temporarily illegible. So I'm pretty certain I know the code based on this video and anyone who really tries to can figure it out also.
You're awsome. I've been debating on getting a gopro for my vending vlogs so this video is very helpful in more ways than 1 😄
always so satisfying when counting dem coins
This was so interesting, and inspiring! I thoroughly enjoyed watching this.
The laundromat looks really good after not seeing it for a while nice :)
So if your making 5k a month that’s about 60k a year… then you gotta pay machine maintenance, utilities, payroll, and misc. They say you gotta spend money to make money but the math doesn’t add up…
Well if you have over 1 million subscribers like this dude, TH-cam will cover the rest of your expenses 😂
Awesome video Brandon
You should do a video pricing out all the equipment. I’m lookin into starting a laundromat from scratch but don’t know the most affordable and best washers/dryers to buy. I’ve been looking into Speed Queens but then I see all this fancy equipment & get nervous lol. Plz shed some light on this topic.
Ps. I’ll be commenting this on a few of your videos so you can see it. I promise it’s not spam lol
I wouldn’t trust to punch in that door code with everyone around lol risky
That's it im buying a snack machine. You just inspired me. Great video!
Investing helpline.
Why not decrease the hours the laundromat is open that way people don't have non-busy times to break into machines.
Thats money time. The risk is worth it, but I'll hire a security from midnight to 6. I guarantee in between that time is when ppl decide to break into machines cus it won't be too busy
See this is what I want a business that I can run all year round
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Have you done a pull from your soapbox dispenser? Would love a video talking about the soap you sell!
Beautiful place. Clean and nice machines.
I know you tried to blur out the passcode but its still pretty easy to solve based on position of the video. I would recommend just cutting that portion out. Although bad people will do bad things not matter what.
Time to put a can food donation box in the loundry mat to help the less fortunate out this holliday season
I’d change that door code if I were you it was still pretty easy to see what code you put in
With how many quarters you get, do you look at all of them to find silver ones?
Glad I found you on here. Been following you on tiktok for some time. I have a question and apologise if it's already been covered but how did you get started in all this? Like did you happen to have an asset left to you or did you bust your rear end off to build up your business? Would be a really good video to see how you started, what was going well and what caught your attention to change to make it to where you are today
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Howdy thanks for comin
Great video!
He's oversharing too much info with customers. Makes you look weak and vulnerable to robbery, theft, and fraudulent people. Even though being nice keeps down enemys, being too nice and sharing kinda makes you look vulnerable.
Like yourself and your homies?
1. 16:17 From where does the $625 appreciation come from?
2. Is the Dryer Repairs of $321/month an ongoing or an extraordinary expense? How much do you model Repairs&Maintenance to be per annum for the Washers, Dryers, Vending Machines, and other equipment?
3. Would be interesting to know what's your ROE (cash-on-cash) and ROIC (Return on inv capital, aka cap rate in commercial RE)? ROE = Net Inc / Equity. ROC = Operating Income (before financial expenses) / Total Capital Invested (the cost of RE + Equipment).
4. What're the terms on your equipment loan (APR %, amortization, etc.) and how soon will it be paid off?
5. Your August Op Income was $3,250 and Net Inc was $1,064. What're your expected accounting returns (including any allowable Depreciation for propert+equipment and Amortization for any cap/finance/operating leases if any)?
Thank you
250k total property value * 3%yr appreciation / 12mo
Current one time expense. It's been only repair bill for 4mo
My total cash in, out of my own pocket is $20k
Loan is around a 7yr at 4.75%
The $100k in euipment gets 120% bonus depreciation. We won't elect to take it now, but it's a nice, nice number.
@@InvestmentJoy Thank you, nothing but huge respect for the numbers-minded businesspeople
@@InvestmentJoy Just bought my second house for 10k 1500 square feet.
Remember some of your first videos, thinking it would be impossible. But you said keep your eyes on the lookout and something would eventually come.
And it did so thank you very much for the motivation and drive!
@@andriandrason1318 so awesome to hear!
Im a 25 year old with 200k in savings. I just wanna not work for someone and build something for myself. This content makes me happy
Have you thought of going with the online DexterPay option on your machines?
I love these videos
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This guy is killing it
A lot of work for 1k cash flow.
Remember to stay HUMBLE. GOD BLESS ALL I AM THE SHED ! ! !
Kudos, nice and inspiring video
Ok, FYI change the code on your door now that we know what it is.. lol. It might be blurred out but we can see where your finger was.
Yeah. Pretty easy to guess the code. Change it and edit it out in the future.
1482
You can clearly make out your door code even with it blurred. I'd definitely change it.
Actually, I've been interested in starting a laundry, or soda machine as a side hustle. But, I'm also interested in seeing how owning a car wash works out? Very interesting information.
Here in the uk. They now have sheltered washing machines and dryers on the street for people to use. Kind of a new thing. But it does well.
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i 1st see this vlog on tiktok .thank for sharing sir .. from PH here
Investing helpline.
Hey man cool Videos, any advice on WHERE to look into to buy a laundromat? I'm new and don't know much and don't know anyone who does but am willing to strongly work myself into owning one.🤘🏻 Where do I start.🤷🏻♂️
My area could really use a second laundromat, I've thought it since I moved here because there's only 1 that closes at 8pm. It's a bit of a wealthier area but there's a big college less than 15 minutes away from me
2:00 - I can tell you this -- if I owned a cash based business like a laundromat, there would be a LOT of cash getting skimmed off the top and never reported for taxes!
Carwash & laundromats. Dexter and Speed Queen. Have you talked about start up costs to follow in your footsteps?
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Could you make a video and give us an idea of what your expenses are like please? I would like to know what your average electric and water bills are. What you spend to keep your vending machines stocked and what you spend on maintenance supplies. Are your dryers gas or electric?
He talked about this before in older videos.
I love your videos. I was wondering what kind of camera do u use. It is so crisp even in low definition. I want to get one. Thanks for any help you can give me.
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I was thinking of opening the same business as your then I realized how much work that is need to be done...
Great video.
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Have you ever thought about solar power. You have to use a ton of electricity. Just a suggestion
Who brought this man my way? Thank you Flying Spaghetti Monster!
I definitely know the code you put in. Probs ought to change that
Have you done any market research on what snacks sell best? NOI, but it didn't look like the choices were great. Definitely didn't see any Peanut M&Ms😟🙃
14:32 23 years later, I still have a scar the size of a dime on the tip of my right ring-finger from trying to clear a jam in one of those machines when I worked at an arcade.....
I wonder, out of all those quarters there how many are silver ones still floating around in circulation in all those thousands of newer ones.
Awesome 👍😎 cool nice great job
How old was the equipment before you decided to replace them?
I hear the life span of a washer is around 15 years but is that realistic?
The lifespan is 7 years
@@jimba6486 I've looked at mutiple laundromats where the owners told me the machine's were 8-12 yrs old though..
@@tom-cz2jx can't remember what it was but he's said it in previous videos if you have a scroll through. I know they were pretty old though
If its a Hard Mount Commercial Washer that has been well taken care of they can last 20-25 years easily. The older washers have lasted 20-35 years, the newer washers will not last that long in my opinion & I have been in this the Laundromat Business for over 30 years. The older the washer the more utility's it uses. The newer ones are much more efficient but not as heavy duty.
I am planning to open a laundromat next year what advice can you please give me? how how many equipment you think I should have? I am living in Canada
I have a washer and dryer at home. But sometimes I will take my stuff to the laundromat to do all my laundry at once instead of one load at a time.
I’m interested in buying a laundrymat locally any advice or maybe I can Message you somehow? On suggestions or something.
good video with gopro
How does the situation with your employee work? Do they only check into the laundromat a few times a day? Do they work Monday-Friday 9-5pm? How many employees do you have, how many hours do they work and how do you pay them?
bud you might have blurred it but it was so easy to read your code for the door, Drop a black box over it Dont blur it
New machines and nice looking buildings make more money.
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You are so sweet God bless you
Your finally getting organized
Awesome
I recommend getting a key for the office because it wasn't hard to see what the code was, people across the laundromat can see you put in the pin. I'm just looking out for you.
I just wanted to know that if I asked a laundromat to put my vending machine in their store do I have to give them a percentage or does it just depend if they want one or not
Probably pay a renting fee
Rent expense usually is high but it is not included in the total expenses ?
Can or do people make a copies of your keys to open up the coin box?
Just thinking it’s scary to go in and all your money is gone..😱
I work full time for now. How much time will I need to spend actually working in my business if I buy a laundromat, car wash or mini storage?
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Need a new bill and change counter that sorts as well...
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11:37 a hard working man
Easy idea to the ppl who have the time or space if you dont get the best income and need a little extra cash just go around getting bottles from trash kinda
disuting so take some gloves with you you earn like 40-80 a day if its a really crowded city where there meby have been a party you can earn like 120-300 that day
if you have a house with a spare room or an apertment you can rent it out to ppl you will have them pay half so its a win win for you both they will not need to pay as much to get an place to be while you will have less rent to pay and more money to invest
also remember not to throw old clothes out try selling them on a market or a thrift shop you can earn some extra cash for new clothes sp that money dosent go to waste
if you dont have a vending manchine thats ok just get a table and sit by it selling soda in you can get a 1 and a half liter soda for only 79 cents the prices a really low in the store i live close to try selling it for like 10 dollars i bet somebodys gonna buy it thats ez money
And for the love of god dont take long bathes
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Quarters are old what about the card systems they have now?
Awesome progress
What is the square footage of your laundrymat?
Congrats mate
Hi! I want open an laundromat in italy, i’m italian. What you think about Dexter brand ?
Counting the money in your machine reminds me of Scarface.
How did you go about starting with that?
Where/how do you find these businesses for sale?
WHAT'S the profit after initial investment just pure profit?
You might want to just put a black bar instead of a blur in front of you putting the pass code into the door. (1393)
🤔I would like to try to run a laundry one day
I think the hands free GoPro works great. You have two hands, less distractions and move faster. The angle is fine… actually better than the wonky gimbal that doesn’t level out lol
*** Brandon, use a blackout when covering your keypad entry. You can still tell what you pressed with the clear blur effect. Or just remove the visual all together. Just looking out for ya.
I dont know why but i always get a bit scared when he sticks his finger in the quarter counting machine makes me fell like something bads gonna happen
Investing helpline.
How do you assess coin walkoffs
Like your videos why don’t you have a card system
There is no laundry mat in the town that I recently moved to. I think someone could really make some money here.
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Correct me if I’m wrong but the profit is only 1k+ ?
What do you need to start this business
Are there automatic carwashes that can accommodate dual rear wheel trucks?
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You should invest some solar panels on your Laundromat you would save alot more money.
Why do you say the courts are delicious do you eat the quarters
I just pay people's loads whenever I collect and from my arcades I give kids handfuls of quarters
How does your money exchanger make money