I own 2 laundromats in low income areas. I work about 25 hours a week and gross about 240K a year. whilst working with an advisor like Julianne Iwersen Niemann. I used to work in Sears repairs,, so I saved money by fixing my own machines. Believe it or not, the soap detergent vending machines bring in a good amount as well. Trust me starting and maintaining a profitable business starts with properly managing your finance.
Laundromats are easy to operate...I know this lady you mentioned. I bought a laundromat from a friend many years ago who retired overseas. Repairs are costly. Try to at least learn the basics. I have bill acceptor machines to exchange for tokens, much better than counting and hauling quarters . My locations are near low income housing and apartments, which are very good for business.
I owned 3 laundromats in SF. The biggest 3 issues? The Lease, the lease and the lease. Got screwed by two owners that didn't renew the lease. If you own the building, different story. Probably, it will not be bad to work with your advisor
thanks for talking about your situation. Definitely helps a young and desperate poor guy like me to stay encouraged in striving to achieve my first ever owned business ... 240 gr. < - electric, water, mechanical, supplies, janitorial, city taxes, county taxes, insurance, business license heat, cooling costs & misc.. = ? . these taxes really want to make me work with a CFA. so that i can know how to joggle my way through. how do i reach her
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get
Thanks for the video. I work a full time job and last year I started a bounce house rental business. Now I want to get into a laundry mats so I’ll give you a sub.
I'm real estate agent in NY. Did the restaurant gig for about 12 years when i was younger but it drained the crap out of me. Too much work. I'm looking to get into this. Thank you
Man, you gotta mouth that would make a sailor proud. I like it! Love the hard hitting, no BS talking points and none of the kerfuffle that others do. I'm looking to start one here in the Rapid City area. Just moved here but dammit, I'm ready to get the hell out of the 9 to 5 rat race.
I liked that you were focused on the subject thanks for these great tips specially about micromanaging everything I am starting a busyness(not laundromat) and I was worrying about everything but when you said you won't be worry about little things like employees stealing and stuff I was relived a little bit about mine anyway thank you for the great video 👍👍
do you think lease is a good choice for a laundromat business? i got a place near me that's $5,500 a month (NNN) and around 2,000 square feet. it's in a good location in my opinion but the rent seems high
Great video man! I was wondering about the cost per month in water/electric on 1100 square foot mat. I am trying to figure out a business loan proposal.
@petermayberry We are looking to start a laundromat in our area. Its close to the interstate with multiple subdivisions and apartment complexes near by. We have 790+ credit scores and have some money saved up. How do we get started? Do you recommended renting space or building out? What is TI money for equipment? Loved your video, straight to the point and a little comical at the same time. I will be subscribing!
Every apartment complex i lived could not keep up with the amount of washing and drying. I would have to wait until 10 pm to do laundry if i wanted to find a washer and dryer OR i would find a washing machine and the asshat who never picked up their laundry would take up 2 to 3 machines. I started going 2 blocks away to a laundry mat and no problems, i now have a house with my own units but i still visit the mats for my huge blankets and pillows cases
Peter I have 1500 sq ft space with 15 parking spots And only one laundromat within 1 mile Is it a good idea to build a laundromat ? And how many machines can go in this size space ?
I couldn't stop laughing, I like you both, But when you shit on Investment Joy I had to watch it over and over again.🤣 I own a laundromat and lots of rental properties. I'm more like you,But you're right counting quarters out of the machine only impresses young people to try to get into the business without the knowledge of running them to watch his videos. The people that already have laundromats and rental properties know the reality of how those businesses run. I'm still laughing as i'm writing this🤣. Thanks for the humor Peter.
Parking. That's my issue! But I'm in UK. My target customer is chinese students (no cars) in Durham city centre, UK. Huge prestigious university. Done some research into how many numbers are here, 3,300. The only thing is the commercial rental space (non adapted, yet) is in a fantastic footfall location but unable to park, as all been recently pedestrianised 👎 only buses/taxis. So thought I could do a collection and delivery service. What do you think? Love your video 🙏 thank you. And also thinking of getting branded 'laundry trollies' for students that live near by, on foot. Please help me 😂 any feedback/advice is so appreciated bro. Vanessa ✌🇬🇧
What an awesome video Peter! You are right to the point and from what I have learned, you are spot on! I saw your discussion with Danny D today. Not sure I can make the Excellence in Laundry meeting in San Diego but if I do I would love the opportunity to connect. I am winding down my medical sales career and want to get the F---K out of corporate America. Have been actively looking for a laundromat in the Phoenix Metro area but with little success so far. I have some leads but they will take some time to open up. I am ready to pull the trigger for the right opportunity. I have been scouting laundromats almost daily, I am not FUCKING giving up!! I hope to join the club as a laundromat owner in the near future. Best to you! T
@@petermayberry You are spot on! not a single laundromat is for sale here. This said, I have located a couple sites that have laundromat infrastructure and good demographics that I am in active lease negotiations. I don't have to pay for some shitty business and I get the reward of infrastructure that would be quite expensive. It's a Danny D style deal. The bulkheads are remaining and usable in one of them, it will be a homerun deal for me if I can get the terms to work out.
@@petermayberry Yes, I am requesting some TI money in the deal. My understanding of the equipment loan, if done through the manufacturer, you can get 100% financing on that part if you have a turn key location. I will either get the TI money in the deal or pay that myself. What has your experience been with that? I know Dexter offers 100% equipment financing option. I have been told the competitors will match others deals to get your business. I have 800+ credit scores and access to cash through a large HELOC. The money in my HELOC is doing zero for me and the rate is decent all things considered. I plan to use that for any ramp up shortfalls etc as I build the business to break even. Thoughts?
Dave Menz has written a book on laundromats, and hosts classes. You should take his course and get WDF up and running. He is very honest and legitimate and a Christain.
I have a question i leave in greece and there are two problems 1. Most people buy there own machine for 600 bucks and wash theire own cloths 2. I try to find laundry mats to buy with sellers financing and noneee of them even sell theire buisness in the first place any tipls please id apreciate it very match if you could give me some advice on how to find one to buy i have benn searching over 3 months now
Are you still investing in more laundromats. I would like to own one but do not have the funds or the expertise. I'm looking for someone to partner with who can help me get started.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
I own 2 laundromats in low income areas. I work about 25 hours a week and gross about 240K a year. whilst working with an advisor like Julianne Iwersen Niemann. I used to work in Sears repairs,, so I saved money by fixing my own machines. Believe it or not, the soap detergent vending machines bring in a good amount as well. Trust me starting and maintaining a profitable business starts with properly managing your finance.
Laundromats are easy to operate...I know this lady you mentioned. I bought a laundromat from a friend many years ago who retired overseas. Repairs are costly. Try to at least learn the basics. I have bill acceptor machines to exchange for tokens, much better than counting and hauling quarters . My locations are near low income housing and apartments, which are very good for business.
I owned 3 laundromats in SF. The biggest 3 issues? The Lease, the lease and the lease. Got screwed by two owners that didn't renew the lease. If you own the building, different story. Probably, it will not be bad to work with your advisor
thanks for talking about your situation. Definitely helps a young and desperate poor guy like me to stay encouraged in striving to achieve my first ever owned business ... 240 gr. < - electric, water, mechanical, supplies, janitorial, city taxes, county taxes, insurance, business license heat, cooling costs & misc.. = ? . these taxes really want to make me work with a CFA. so that i can know how to joggle my way through. how do i reach her
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get
The thing is people often doubt the prospects of financial advisors like Julianne Iwersen Niemann in business/markets today.
That's what I'm talking about you get to be you, cuss a little and show us all how its done. Great video Peter!!!!
Thank you!
@@petermayberryu are the Man Pete. In my Hulk Hogan voice. 😂😂😂
people like this because its genuine not just guy just acting for the camera. love the argument for why self serve is better. Thank you!!
I love how you just keep it real!
Great video! I didn’t even think about parking! Like the way you bro it straight to the point!
I like how you get right to the point, and state the facts!
Facts.Straight to it and not a long drawn out video. Love that.
Great video, kept it simple and explained the BIG THREE. Thanks for the information. I didn't think of parking, one of the most important aspects.
No BS. That's what running a business is about. Set good expectations for you and your people with no exceptions❤ Great video!
F ya! Thank u! Opening my own L.M is my future goal! I appreciate your honesty
This was awesome. Great details facts and to the point. Thanks big guy.
Very well explained & informative video with zero off topic tangents , 10/10
Thanks for the video. I work a full time job and last year I started a bounce house rental business. Now I want to get into a laundry mats so I’ll give you a sub.
A lot of markets are good. Location is key.
I'm looking to start one in south texas. I have good credit, and 20 grand saved up. Do you think i can start with that?@@petermayberry
I'm real estate agent in NY. Did the restaurant gig for about 12 years when i was younger but it drained the crap out of me. Too much work. I'm looking to get into this. Thank you
Great video! Great editing, pacing, etc. Very informative. Glad to have found you!
Welcome aboard!
Awesome video the top 3 ! I love it and straight to the point on wash and fold and self serve I love it !
Man, you gotta mouth that would make a sailor proud. I like it! Love the hard hitting, no BS talking points and none of the kerfuffle that others do. I'm looking to start one here in the Rapid City area. Just moved here but dammit, I'm ready to get the hell out of the 9 to 5 rat race.
100% DM on Instagram maybe I can help you. @mayberrycapital
Wow!! This is my first videoI watched and I absolutely LOVE this guy. UNCUT and STRAIGHT TO THE POINT! 💪🏾🎯 #SUBSCRIBED
Omg I love this guy. I really want to start this business but have no idea where to start from
Look up steps to starting laundromat
Great video. You got right to the point
Great high quality content man one of RUclips’s best kept secrets
I love everything this about this vid. You kept it real!!!! We need more of this!
Excellent information!!! Thank you!🤩🤩🤩
I liked that you were focused on the subject
thanks for these great tips specially about micromanaging everything
I am starting a busyness(not laundromat) and I was worrying about everything but when you said you won't be worry about little things like employees stealing and stuff I was relived a little bit about mine
anyway thank you for the great video 👍👍
Question: is better to start a new laundrymat or purchase an existing one ?
Is chicken better than blue?
Probably purchasing one
@@ryanbianchi6582wtf are u even implying Mr potato head
Not necessarily. You could put out a lot in plumbing upgrades. I mean, most likely, but what if it’s in a sucky location?
am sorry for the people who are very rude here
Just saw this for the first time. How do I contact you for more questions. Thank you from Boise
Thanks Peter! Great vid!
Love your humor 😂. Ima get the f out now 😂😂😂😂😂
Nah fr fr thank you I can’t wait to start my laundry mat business. You gained a new subscriber 🎉
So natural I have to subscribe and give the like😂❤
How do you pick your suppliers for the washers and dryers.
Hey bro I need need to start a little laundry business and ur the perfect person to help me ..
do you think lease is a good choice for a laundromat business? i got a place near me that's $5,500 a month (NNN) and around 2,000 square feet. it's in a good location in my opinion but the rent seems high
LOL!! I love the energy 😂
Great video I’m interested in opening one, but I don’t know where can I get the washer and dryer’s machine anyone know let me know please
As soon as you said Saddlecreek, I knew you were in Omaha!
Great video man! I was wondering about the cost per month in water/electric on 1100 square foot mat. I am trying to figure out a business loan proposal.
Hilariously straight forward!
Thanks peter, but how do you calculate the price for each load? On the washer and on the dryer?
And did just that! Subscribed and got the eff out!🤣🤣🤣👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼
I need your help to start a laundromat business! Do you have webinars.
Do you use CSC Go, or another QR company on your machines for payment, or are they all coin only?
@petermayberry We are looking to start a laundromat in our area. Its close to the interstate with multiple subdivisions and apartment complexes near by. We have 790+ credit scores and have some money saved up. How do we get started? Do you recommended renting space or building out? What is TI money for equipment? Loved your video, straight to the point and a little comical at the same time. I will be subscribing!
Thank you 🙏 sir
Every apartment complex i lived could not keep up with the amount of washing and drying. I would have to wait until 10 pm to do laundry if i wanted to find a washer and dryer OR i would find a washing machine and the asshat who never picked up their laundry would take up 2 to 3 machines.
I started going 2 blocks away to a laundry mat and no problems, i now have a house with my own units but i still visit the mats for my huge blankets and pillows cases
Peter I have 1500 sq ft space with 15 parking spots
And only one laundromat within 1 mile
Is it a good idea to build a laundromat ? And how many machines can go in this size space ?
I couldn't stop laughing, I like you both, But when you shit on Investment Joy I had to watch it over and over again.🤣
I own a laundromat and lots of rental properties. I'm more like you,But you're right counting quarters out of the machine only impresses young people to try to get into the business without the knowledge of running them to watch his videos. The people that already have laundromats and rental properties know the reality of how those businesses run. I'm still laughing as i'm writing this🤣. Thanks for the humor Peter.
I'm interested in investing in a laundromat how can I reach out to you, I'd love you share some experience
IM INTERESTED in opening one as well may i contact you
I met investment joy and was completely taken back by how little he actually knows. He is basically a slum lord with one single shit laundry.
@@petermayberryI feel like if you took out his RUclips income, he would be in the red or breaking even
There is little competition in my area
And am thinking of a good spot
What about express service
Like pickup clothes
Parking. That's my issue! But I'm in UK. My target customer is chinese students (no cars) in Durham city centre, UK. Huge prestigious university. Done some research into how many numbers are here, 3,300. The only thing is the commercial rental space (non adapted, yet) is in a fantastic footfall location but unable to park, as all been recently pedestrianised 👎 only buses/taxis.
So thought I could do a collection and delivery service. What do you think? Love your video 🙏 thank you. And also thinking of getting branded 'laundry trollies' for students that live near by, on foot.
Please help me 😂 any feedback/advice is so appreciated bro.
Vanessa ✌🇬🇧
Just Subscribed
What an awesome video Peter! You are right to the point and from what I have learned, you are spot on! I saw your discussion with Danny D today. Not sure I can make the Excellence in Laundry meeting in San Diego but if I do I would love the opportunity to connect. I am winding down my medical sales career and want to get the F---K out of corporate America. Have been actively looking for a laundromat in the Phoenix Metro area but with little success so far. I have some leads but they will take some time to open up. I am ready to pull the trigger for the right opportunity. I have been scouting laundromats almost daily, I am not FUCKING giving up!! I hope to join the club as a laundromat owner in the near future. Best to you! T
Phoenix is a hot area. You could build a new one there and crush it. When no one is selling it’s because everyone is killing it!
@@petermayberry You are spot on! not a single laundromat is for sale here. This said, I have located a couple sites that have laundromat infrastructure and good demographics that I am in active lease negotiations. I don't have to pay for some shitty business and I get the reward of infrastructure that would be quite expensive. It's a Danny D style deal. The bulkheads are remaining and usable in one of them, it will be a homerun deal for me if I can get the terms to work out.
@@10xitall saving on infrastructure cost is huge! Make sure you get some TI money if you need some capital for an equipment down payment.
@@petermayberry Yes, I am requesting some TI money in the deal. My understanding of the equipment loan, if done through the manufacturer, you can get 100% financing on that part if you have a turn key location. I will either get the TI money in the deal or pay that myself. What has your experience been with that? I know Dexter offers 100% equipment financing option. I have been told the competitors will match others deals to get your business. I have 800+ credit scores and access to cash through a large HELOC. The money in my HELOC is doing zero for me and the rate is decent all things considered. I plan to use that for any ramp up shortfalls etc as I build the business to break even. Thoughts?
@@10xitall I have done several 0 down equipment loans. It is 100% able to be done. It’s just usually a higher rate.
Lol the ending made me subscribe lol
Dave Menz has written a book on laundromats, and hosts classes. You should take his course and get WDF up and running. He is very honest and legitimate and a Christain.
I know him and have been to his home. You should definitely kneel at his throne.
@@petermayberry Does his 7k course include a house tour? Trying to refinance my double wide to afford it to get out of poverty.
I like the energy 😂. So i f*cking subscribed 😅
Great video
Since watching your tik toks im getting licensed for skill games in my small business.
It’s free money! I love that they barely take up any space as well.
How do you get the washer machines tell us that
Thank You 💪🏽
I’m inspired
do a video about ur gamblr machines
Just did. Thanks for the feedback! Anything else you would like to see?
what do you mean by saying this is not a passive income business? is it not paying you after expenses?
I have a question i leave in greece and there are two problems 1. Most people buy there own machine for 600 bucks and wash theire own cloths 2. I try to find laundry mats to buy with sellers financing and noneee of them even sell theire buisness in the first place any tipls please id apreciate it very match if you could give me some advice on how to find one to buy i have benn searching over 3 months now
i need to find one to buy also could we start small?
I need to work/partner with you very smart man‼️🙌🏾
Are you still investing in more laundromats. I would like to own one but do not have the funds or the expertise. I'm looking for someone to partner with who can help me get started.
I'm on it ❤️
very helpful
Glad to hear that
@@petermayberry where you at? Did you retire from RUclips?
Do you keep your business under surveillance so you can catch those employees pocketing the cash? 💵
Also, why not just require people pay by card?
What is nts?
can you reply with the supplier for you skill games please? I have some locations for these machines
I have several. Where are you located so I can get you in contact with ones that are legal in your area?
Hi Peter, thank you for the video. Are you interested in consulting me? I have a vacant lot and I want to place a laundry mat. Want to connect?
How does one get in contact with you?
We are working on a way. Hopefully we will have something soon.
Why does it take an hour and a half for you or anyone at home to dry their clothes?
@@Filth532 damned good question
@@Filth532 capacity, power, efficiency, temperature, most likely technology plus capitalism (maybe or maybe not in a bad way).
How about open 24 hours ?
Always! It’s called anytime laundry for a reason!
I'm here to fuck around, and find out.
I want to know how to make money
You are way too sober in this one. #moreBAC
😂😂😂😂😂
lol
I have 200k cash, someone sell me a laundromat
Some good information, but the language is offensive.
cry about it. he never said anything derogatory about anyone/anything.
How is any of this done when your broke?? Hell I've thought about doing this. I have zero money right now.
Save your money
Owner financing! Find someone who wants to retire and make a deal.
I like you you talk direct and easy to understand no need for big words.
How can one pay home bills if your only making 1k profit
That was just off the vending machines
Where do you get your vending machines from ?
Amazing video