I wonder if laundromat equipment manufacturers will start to serialize or limit access to parts/schematics like tractor, cell phone, and automobile manufacturers are doing to DIY customers.
@@FollowingKeenan It sounds like the manufacturers or dealers would rather lease the machines to you or create a subscription-based payment plan so that you would never gain ownership of the hardware. This would create an endless money stream for themselves. There is a "right-to-repair" movement that is growing in the computer and tractor repair businesses. Unfortunately, it is near impossible to get the average layman (or politician) to understand why this is important in many industries... yours included.
@@josemuse4119it has already been going on but manufacturers are getting hosed. BMW has been leasing heated seats and steering wheels to car owners and they shut them off of they don't pay.
Keenan, thanks for looking out for us and sharing the info that dealerships want to use to take advantage of us. Really appreciate you sharing your knowledge with us
Recently my friend replaced a bank of 6 washing machines & dryers. These are a Japanese Brand & operate both card / coins. These are a huge success as people just tap & go & a few times I have seen people use the remainder of their bank balances. Millennials are not ones to carry cash so the switch to the Tap Go services has been a huge success.
That is done with all the American machines too. They install a bluetooth reader inside the machine which syncs with your phone app. Name of the Japanese manufacturer?
@@thyslop1737 Yes these are Japanese designed - Malaysian made machines. This is an ever-improving industry & those self-titled Kings or Queens of this industry are totally delusional . The need to go cashless is the future with my friend adding these cash / card machines to all his locations. We have just closed on more locations now totaling 13 sites & counting. I am the company Accountant so I see every dollar through theses companies. Good thing is that these machines accept payments in increments of so anyone wanting to use the balance of their bank account can at least get a wash done. Yes the blue tooth reader will be the future but I don't predict this for a number of years.
All I wanted to know is the name of the Japanese machines? The cashless payment to vend washers and dryers for years has been here in the U.S. for years with American made machines. A perfect example is Payrange. The machine will have a bluetooth reader, which communicates with the phone. The phone will have the App (payrange) then the user will select the machine to vend (short wash, long wash, short drying time, long drying time, whatever they want with the money deducted from the money stored on their app on their phone. No card, no readers, just the phone. It is all moving to the phone and rapidly, then perhaps over time to an iris scan or palm print may be a probability. Right now Whole Foods if you sign up for it you can now pay with your palm print. I am using Payrange as an example, since there are numerous companies now offering this payment system.
@@thyslop1737 These are not blue tooth user friendly ...................... yet. Point of contact payment is very common here since the Pandemic & Contactless Payment has not moved into any Laundromats I have seen due to higher costs compared to other machines. These are a Generic Brand but exclusively for the Asia Pacific Region so smaller market.
@@matthewbrown6163 Bluetooth is contactless. Contactless is a myth. At some point, you have to load the machine an unload it. So, the manufacturer of these machines does not have a name?
Best wishes on continuing to follow Speed Queen & Huebsch on your equipment. Yeah I seem to feel Dexter and Maytag are more difficult to deal with although I think Dexter seems to have Speed Queen's old pat. pend. of products. Electrolux and Wascomat are both the same company. I seen older Wascomats later had parts that become pat.pend. to Speed Queen & Huebsch. Yeah the Maytag Dryers & ADC Dryers does use the same set of parts. The Pellerin Milnor Dryers did too as well as the 1990s model Wascomats (they called their models WascoDry on their 1990s era dryers). The Pellerin Milnor Washers have been pretty good to use although it is hard to tell how good their service are or so.
Why do you say Dexter has been more difficult to deal with? The distributor or machines themselves? I've been talking to a few distributors and seem to have a hard time getting good return communication from them.
Thanks Keenan, this video is so insightful for someone who's looking to enter the industry. Thanks for the explanation and I agree, they mark up the prices and there's even delivery charge of 10k USD !?! Wild.. had no idea Maytag is trending downward in terms of quality and reliability. !!
Boy, I used to drive 800 miles to Poland to get a few good washers. Old pre-Alliance Ptimuses. They are the best machines we ever have, easiest to replace heating elements, easy to work on, EASIEST to buy, and REPAIR freaking 24v drain valves!
Hey Keenan, can you do a video about how you scouted, found and closed on your store locations? I have been bitten by the laundromat bug and am pretty determined to make it happen. I could use some guidance on how to assemble the right team to help me source the right location.
I was maintenance director at a health care facility and we had on-site laundry. Had a Uni-Mac washer and it was a piece of junk.
3 года назад+1
The exclusive territories seem to get into all types of businesses, hardware, software, etc. Only thing you can do about it is to get quotes from the other companies as well. :P
The information on territory was berry helpful.I work in a long term care facility,and we only go to one specific dealer for parts and service.I think I will look into other options for parts and service,to see if there is a better option for us.
Thank you, Keenan, I am picking up a lot of information regarding the business. I am not an owner, I am just checking out the business model of different types of businesses.
Wow what a load of Top Secret Info from what the dealer will not tell us the Truth! It sad they take Advantage of the customer who’s buying machines parts and kill us with the labors we must follow Keenan way ! He tell us the truth about them dealer !
this is why we appreciate you keenan!! I'm trying to find a 30lb stack dryer that isn't over $7,000.. i'm trying to find used but its still gonna be around $4-5k
Protected territory, know all about this being in the vacuum cleaner business. The difference is that in this business, customers can go to whatever dealer in whatever territory you want and buy. I can’t believe a laundromat owner can’t shop around though.
Just a thought, Could you buy a washer from that honest dealer with lower prices but ask him to remove a part then ship that part separately as a replacement part? This way you would not be technically buying a brand new piece of equipment since its missing a part so it'd be ok. Would it be possible for you and other laundromat owners to go around this territory b.s. by doing it like that?
Niche, enterprise computer equipment is the same way. You have to pick one reseller and only they can quote/sell you stuff. It's almost impossible to get competing quotes.
You are all-in for under $200k (land, building, equipment & improvements). Were there any environmental impact fees? What other cost to open? This has to be one of the best business models (strategies) I have seen.
Those are real faulty warranties: the ones that don't cover labor. I remember a lot of Auto Parts especially Mufflers back in the day at those type of warranties. The mufflers on 1990s era American made cars for the common man we're only about $20; it was the other $130 in labor that made the job expensive.
I likely think the Maytag Dryers were made by ADC. The 1990s era Wascomat's WascoDry dryers were made by ADC. And some Pellerin Milnor dryer models are made by ADC
Great video, Just wondering if you can tell me How hot is your “hot water” set too? I like to use laundromats that have a strong hot water supply, and I’m sure others are the same too! You having the tankless heaters is a big improvement I’m sure compared to other laundromats.
Hi Keenan, I appreciate your videos. I do have a question about the down payment. I read online there is a 20%-30% down payment when buying brand new equipment. Do you have any advice on how to lower the down payment or not pay it at all when financing through the distributor? Thanks!
Well theirs no way to get out of paying it. But one thing you could do. Is if you got a laundromat with equipment in it. Is either part out the machines on ebay. Or sell old equipment as a whole. To work towards that down stroke. You might be surprised what you can get for it. Then other part is build a smaller store. So say you dealer says buy 40 washers. Buy 20 or 12. Same goes for dryers. Once you get going a year or so. Buy more equipment if need be. You can always buy more equipment but never sell back what you dont need. Bigger is not always better.
Hi Keenan, Thank you for talking to make your videos, I want to buy a laundrymat, but I am not sure if I am getting a good deal or paying too much, how do you know how much to pay for a laundrymat?
In my area idea is 2.5 times net. If laundromat equipment and infrastructure is great then 3 times net. Net income is the only way to determine value. If real estate is included then add that appraisal ➕ multipled net income equals total value. Hope that give you a rough idea. All based on condition of equipment and building.
Yeah, but I do not think your territory premise is valid anymore. Why? Speed Queen has been buying up the laundry equipment distributors and the parts suppliers. And ever since that time they have jacked the prices on machines and parts higher, not by a little, but bu a lot.
they are Crooks, why is it you can only buy from 1 dealer. that is a socials move. capital country you should be able to buy from any dealer. They know you can only buy from 1 dealer in your area.
We ship Nationwide New & Used....We have a complete Used Coin Store available (contents only) currently. www.wardlawequipmentconsultants.com You’ll like our prices!😎👍 There are MANY great brands to choose, New & Used! Great job on your Laundry!
You are so good you make investment joy look like a bone head. I just commented on his video "they took everything" about how terrible his collections are. I compared your practice, Danny D'Angelo advice, and his. I told Brandon he literally takes up to 30 seconds if not longer to empty a washer or dryer. I explained to him watch your videos and learn a few things. Who knows? Maybe if his viewers see my comment they might come to your channel instead, if so yourwelcome. You clear out an entire row of 5-8 washers if not more in the amount of time it takes him to do one. Time is money, I guess he likes playing with fire. I don't like seeing or hearing about bad things happening to people, but he is really increasing risk of attack when he exposes himself as that irresposnible with cold hard cash. People are nuts! You make comedy videos out of it, but in all reality it's a serious issue. I love your videos and honestly I liked his at one point too but he is really losing my interest. Here's a golden manual of information that you and Danny both provide to him and he doesn't use it. Come on! That's where I call the oblivious inidivual a joke. Keep up the great advice and laughs Keenan. I love how you always make a positive out of a negative.
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
I wonder if laundromat equipment manufacturers will start to serialize or limit access to parts/schematics like tractor, cell phone, and automobile manufacturers are doing to DIY customers.
Yes, especially now that machines are going to bluetooth/WIFI and touch screen.
Now dealers will be able to see how much you make!!! Let that sink in.
@@FollowingKeenan It sounds like the manufacturers or dealers would rather lease the machines to you or create a subscription-based payment plan so that you would never gain ownership of the hardware. This would create an endless money stream for themselves.
There is a "right-to-repair" movement that is growing in the computer and tractor repair businesses. Unfortunately, it is near impossible to get the average layman (or politician) to understand why this is important in many industries... yours included.
@Paul Revere Sadly, I think you are right.
@@josemuse4119it has already been going on but manufacturers are getting hosed. BMW has been leasing heated seats and steering wheels to car owners and they shut them off of they don't pay.
Down draft is like an inductive furnace in a house ?
Thank you for being so honest and open. Your comments help me a lot in the understanding of how laundromats work.
Your channel is the best on RUclips I can’t stop watching you . Your the best they need to give you your own show
Love your channel! You are then one guy who shows all the hands-on work with owning a laundromat. It is more than just emptying change bins....
Love the fact that you tell it straight without any BS!
You are dropping knowledge like those quarters into that bucket - empowering others. Cheers and keep up the great work!
Instructions on how to use a laundromat machine? Driving all the way to w laundromat and learning new things. People don't always care to start
Keenan, thanks for looking out for us and sharing the info that dealerships want to use to take advantage of us. Really appreciate you sharing your knowledge with us
Recently my friend replaced a bank of 6 washing machines & dryers. These are a Japanese Brand & operate both card / coins. These are a huge success as people just tap & go & a few times I have seen people use the remainder of their bank balances. Millennials are not ones to carry cash so the switch to the Tap Go services has been a huge success.
That is done with all the American machines too. They install a bluetooth reader inside the machine which syncs with your phone app. Name of the Japanese manufacturer?
@@thyslop1737 Yes these are Japanese designed - Malaysian made machines. This is an ever-improving industry & those self-titled Kings or Queens of this industry are totally delusional . The need to go cashless is the future with my friend adding these cash / card machines to all his locations. We have just closed on more locations now totaling 13 sites & counting. I am the company Accountant so I see every dollar through theses companies. Good thing is that these machines accept payments in increments of so anyone wanting to use the balance of their bank account can at least get a wash done. Yes the blue tooth reader will be the future but I don't predict this for a number of years.
All I wanted to know is the name of the Japanese machines? The cashless payment to vend washers and dryers for years has been here in the U.S. for years with American made machines.
A perfect example is Payrange. The machine will have a bluetooth reader, which communicates with the phone. The phone will have the App (payrange) then the user will select the machine to vend (short wash, long wash, short drying time, long drying time, whatever they want with the money deducted from the money stored on their app on their phone. No card, no readers, just the phone. It is all moving to the phone and rapidly, then perhaps over time to an iris scan or palm print may be a probability. Right now Whole Foods if you sign up for it you can now pay with your palm print.
I am using Payrange as an example, since there are numerous companies now offering this payment system.
@@thyslop1737 These are not blue tooth user friendly ...................... yet. Point of contact payment is very common here since the Pandemic & Contactless Payment has not moved into any Laundromats I have seen due to higher costs compared to other machines. These are a Generic Brand but exclusively for the Asia Pacific Region so smaller market.
@@matthewbrown6163 Bluetooth is contactless. Contactless is a myth. At some point, you have to load the machine an unload it. So, the manufacturer of these machines does not have a name?
What has happened to Maytag is heartbreaking. They were the best at one time. I wouldn't take them for free today.
Best wishes on continuing to follow Speed Queen & Huebsch on your equipment. Yeah I seem to feel Dexter and Maytag are more difficult to deal with although I think Dexter seems to have Speed Queen's old pat. pend. of products. Electrolux and Wascomat are both the same company. I seen older Wascomats later had parts that become pat.pend. to Speed Queen & Huebsch. Yeah the Maytag Dryers & ADC Dryers does use the same set of parts. The Pellerin Milnor Dryers did too as well as the 1990s model Wascomats (they called their models WascoDry on their 1990s era dryers). The Pellerin Milnor Washers have been pretty good to use although it is hard to tell how good their service are or so.
Why do you say Dexter has been more difficult to deal with? The distributor or machines themselves? I've been talking to a few distributors and seem to have a hard time getting good return communication from them.
@@lamaurprice7756 some distributors or the supply availabilities to answer your question. They however can help redesign some stuff.
Thanks Keenan, this video is so insightful for someone who's looking to enter the industry. Thanks for the explanation and I agree, they mark up the prices and there's even delivery charge of 10k USD !?! Wild.. had no idea Maytag is trending downward in terms of quality and reliability. !!
Boy, I used to drive 800 miles to Poland to get a few good washers. Old pre-Alliance Ptimuses. They are the best machines we ever have, easiest to replace heating elements, easy to work on, EASIEST to buy, and REPAIR freaking 24v drain valves!
Awesome information Keenan! Thanks!
Hey Keenan, can you do a video about how you scouted, found and closed on your store locations? I have been bitten by the laundromat bug and am pretty determined to make it happen. I could use some guidance on how to assemble the right team to help me source the right location.
I was maintenance director at a health care facility and we had on-site laundry. Had a Uni-Mac washer and it was a piece of junk.
The exclusive territories seem to get into all types of businesses, hardware, software, etc. Only thing you can do about it is to get quotes from the other companies as well. :P
The information on territory was berry helpful.I work in a long term care facility,and we only go to one specific dealer for parts and service.I think I will look into other options for parts and service,to see if there is a better option for us.
if you change out those downlights to uplighting, the place will look nicer. right now, it has a dark scary basement feel.
Hey Keenan, it’s Denny from Pa. I have a 30 lb. Stack dryer, the lil “ box” that connects to the coils went bad, can it be replaced or bypassed?
Got a picture of this box?
@@FollowingKeenan I do but I d know how to sent it ?
Damn spellcheck , don’t know how to send it!!
FollowingKeenan@gmail.com
Great video, really interesting
Thank you, Keenan, I am picking up a lot of information regarding the business. I am not an owner, I am just checking out the business model of different types of businesses.
i am looking for laundromat business but i dont know what to do first. I love this video i learnt a lot
thanks for telling the truth. keep up the good work
Wow what a load of Top Secret Info from what the dealer will not tell us the Truth! It sad they take Advantage of the customer who’s buying machines parts and kill us with the labors we must follow Keenan way ! He tell us the truth about them dealer !
Wow I really like your video maybe next time can take more about keenan equipment and utilities cost etc.
this is why we appreciate you keenan!! I'm trying to find a 30lb stack dryer that isn't over $7,000.. i'm trying to find used but its still gonna be around $4-5k
Thanks! This info is GOLD!
Protected territory, know all about this being in the vacuum cleaner business. The difference is that in this business, customers can go to whatever dealer in whatever territory you want and buy. I can’t believe a laundromat owner can’t shop around though.
Just a thought,
Could you buy a washer from that honest dealer with lower prices but ask him to remove a part then ship that part separately as a replacement part?
This way you would not be technically buying a brand new piece of equipment since its missing a part so it'd be ok.
Would it be possible for you and other laundromat owners to go around this territory b.s. by doing it like that?
Maytag was good years ago but Whirlpool makes Maytag and ADC now. Whirlpool can't make a residential machine last.
Niche, enterprise computer equipment is the same way. You have to pick one reseller and only they can quote/sell you stuff. It's almost impossible to get competing quotes.
Very informative. Thank you!
Thanks Keenan! I don't own a laundromat, but I find it interesting as heck.
You are all-in for under $200k (land, building, equipment & improvements). Were there any environmental impact fees? What other cost to open? This has to be one of the best business models (strategies) I have seen.
No other costs.
Those are real faulty warranties: the ones that don't cover labor.
I remember a lot of Auto Parts especially Mufflers back in the day at those type of warranties. The mufflers on 1990s era American made cars for the common man we're only about $20; it was the other $130 in labor that made the job expensive.
Another great video. I did not know ADC dryers were made by maytag. Thanks for the info.
I likely think the Maytag Dryers were made by ADC. The 1990s era Wascomat's WascoDry dryers were made by ADC. And some Pellerin Milnor dryer models are made by ADC
21300 euro price for dexter coin operated for a 40 pounder washer and 10600 euro for 20 pounder washer its on internet no secret
We aren’t in Eurozone. Prices aren’t transparent here
Terrific information, very valuable to this wanna-be owner
Great video,
Just wondering if you can tell me How hot is your “hot water” set too?
I like to use laundromats that have a strong hot water supply, and I’m sure others are the same too! You having the tankless heaters is a big improvement I’m sure compared to other laundromats.
130 F is what i have mine set too.
@@FollowingKeenan thanks 👍
you hear that that's a bucket full of money, awesome
Hi Keenan, I appreciate your videos. I do have a question about the down payment.
I read online there is a 20%-30% down payment when buying brand new equipment. Do you have any advice on how to lower the down payment or not pay it at all when financing through the distributor?
Thanks!
Well theirs no way to get out of paying it. But one thing you could do. Is if you got a laundromat with equipment in it. Is either part out the machines on ebay. Or sell old equipment as a whole. To work towards that down stroke. You might be surprised what you can get for it.
Then other part is build a smaller store. So say you dealer says buy 40 washers. Buy 20 or 12. Same goes for dryers. Once you get going a year or so. Buy more equipment if need be. You can always buy more equipment but never sell back what you dont need.
Bigger is not always better.
Other thing is dealer equipment financing also want folks who been in business awhile. They call them veterans.
Hi Keenan,
Thank you for talking to make your videos, I want to buy a laundrymat, but I am not sure if I am getting a good deal or paying too much, how do you know how much to pay for a laundrymat?
In my area idea is 2.5 times net. If laundromat equipment and infrastructure is great then 3 times net. Net income is the only way to determine value. If real estate is included then add that appraisal ➕ multipled net income equals total value. Hope that give you a rough idea. All based on condition of equipment and building.
You are brave Laundromat Robin hood. I agree Laundromat dealers keep you over leveraged.
Yeah, but I do not think your territory premise is valid anymore. Why? Speed Queen has been buying up the laundry equipment distributors and the parts suppliers. And ever since that time they have jacked the prices on machines and parts higher, not by a little, but bu a lot.
Beg you a pardon but, Arent you Adam Sandler?🤣🤣🤣
Alliance is like General Motors they have lots of brand names on one machine model.
Maytag is the victim of the SEARS scandal, even craftmans tools are junk (unless you have the original - older than 15 years).
What model Rinnai water heaters are you using?
they are Crooks, why is it you can only buy from 1 dealer. that is a socials move. capital country you should be able to buy from any dealer. They know you can only buy from 1 dealer in your area.
Great video
Can you provide a video going over financing options for the businesses?
#FreeGame... preach my brother!
They are called Stealerships for a reason.....
A territory is nothing more than a monopoly.
My biggest machines are 3 40lb and 2 35lb, on change day all the change is in these few machines.
I try to buy parts from online ,to stay away from my dealer .
Kings laundry group is another
Couldn't your customers tell Alexa to turn off the lights? I'm sure some of them watch your channel!
Wow I was just quoted over 9k for stack dryers 😳
Overall, how much were the labor repair costs per machine?
300 to 400
So what does the 45 stack cost?
Isn't that a 'Monopoly'?
How to use a laundromat? Some of the customers don't know how to use the machines. Some don't want to start
Do you like buying a location and building it up your way, as opposed to buying an old laundromat and updating it to your standard?
hey man you got fiddy cents, i can have?
What is the name of the dealer ?
Maytags are really junks !!!
Great info. Your so informative. What brand name would you recommend?
imho dexter for dryers (easier to fix) and anything alliance for washers.
@@HPRCKMST Ok great ty
Man, you are railing these companies hard!
We ship Nationwide New & Used....We have a complete Used Coin Store available (contents only) currently.
www.wardlawequipmentconsultants.com
You’ll like our prices!😎👍
There are MANY great brands to choose, New & Used!
Great job on your Laundry!
You are so good you make investment joy look like a bone head. I just commented on his video "they took everything" about how terrible his collections are. I compared your practice, Danny D'Angelo advice, and his. I told Brandon he literally takes up to 30 seconds if not longer to empty a washer or dryer. I explained to him watch your videos and learn a few things. Who knows? Maybe if his viewers see my comment they might come to your channel instead, if so yourwelcome. You clear out an entire row of 5-8 washers if not more in the amount of time it takes him to do one. Time is money, I guess he likes playing with fire. I don't like seeing or hearing about bad things happening to people, but he is really increasing risk of attack when he exposes himself as that irresposnible with cold hard cash. People are nuts! You make comedy videos out of it, but in all reality it's a serious issue. I love your videos and honestly I liked his at one point too but he is really losing my interest. Here's a golden manual of information that you and Danny both provide to him and he doesn't use it. Come on! That's where I call the oblivious inidivual a joke. Keep up the great advice and laughs Keenan. I love how you always make a positive out of a negative.
Thanks I appreciate that!