Will My Laundromat Make 10k This Month?
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- Опубликовано: 4 июн 2024
- Today we'll dive into the problems I'm having at the laundromat and how we plan to fix them. I'll talk about the challenges I've had with staff turnover, the disappointing state of my upstairs rental units, and how we can increase daily capacity downstairs. I'm hopeful that my transparency with these problems will help you as you look at laundromat opportunities or other businesses. The picture is definitely not all bad though and I've got a plan speed up our progress. If it all comes together, this risk will turn us into the most profitable location in town.
I have laundromats down to a science. If you want to do laundromats as well click the link:
investmentjoytraining.com 
Развлечения
Question about your security:
DO you close the laundromat to pull the coins? What's your process for protecting yourself while in there with your keys and money?
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?`
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I've come across several positive endorsements of Jenny Pamogas Canaya on various platforms, including RUclips channels, seminars, and more._.
That's what the 2nd Amendment is for.
Opening laundromat seems like a great idea cuz that trend will never fade. People will always need to clean their clothes. Sooo many quarters lol. Seems like the laundromats in a great location. Right beside a busy road
Editing is very clean in this! A lot of improvement since I’ve started watching the channel
Glad you see improvement
Raise your washers a quarter. Add more cool down on the dryers, or make them a 1.00 minimum to start. 6 minutes per quarter with a 2 minute cool down if you keep it to.25 to start. Make sure to use all skeleton keys on your coin boxes so they are very hard to pick. Looks to me like you should empty your coin boxes more often and also change up the time of day you do that so people don’t see a pattern.
Change Up ? you mean Constantly change
Skeleton keys are easy to pick lol. Heavily do not recommend that idea.
I'd assume the reason is psychological for why the first machine gets larger bills, it's probably the first one they see or are near to when entering the building. So it would (likely) be the one people tend to go to versus the other.
Could be something to keep in mind during the building expansion & renovations.
or cuz it’s the one next to the ATM
If that were true, there would be more bills not just large bills. I think it is more of human habit. The older customers are using the smaller older machine because that is the one the know. As the bills usually stay the smaller denomination. And the newer customers are using the bigger machine because it bigger, more eye catching. And maybe next to the ATM and in line with the entrance.
@@davidv2002 I think you're absolutely right. Most atms are a minimum 20 dollar withdraw hence why there are so many twenties in that machine.
From what you've shown us expanding the laundry would definitrly be a worth while investment.
Thanks for this video
Love your content bro!!
I really like your content between watching you and Danny D I am all in for leasing one of these money making opportunities
Like what u put on here.
The Loundery mat I use to go to.
Was a dump.
In Sussex Wisconsin.
I'm not a business owner....yet, but what I immediately notice is the ambiance is like a prison , like from an old movie. I would get more lighting and use a color temperature to improve the mood. Next is the colors and overall quality of the painted wood tables, etc. You have some that are chipping badly. It's not the proper durable paint to be used. I'm guessing that's just cheap latex, urethane paint is more durable and isn't that expensive. I would actually use real wood with stain and polyurethane, and I would spray it on or use thinner so it flows out. I also have experience in spraying 2k automotive paint, which can be affordable if you DIY. I would so love to work for you and upgrade all of that stuff. I'm interested in real estate but laundromats seem like they make more money so this is very interesting. I wish you were my mentor and be your apprentice, you seem like you really know how to run those businesses
To be fair, you're not up against the 90% failure rate every time you get into a new business because the vast majority of them fail because they're under capitalized. If you have the proper capital, the success rate is far greater.
What keeps you from using consumer washer and dryers for the laundry mat? Regulations? Or are they just inferior?
Big inspiration! Growing pains are great.. but a pain 😂
Love the content. What software do you use to keep track of expenses for just this part of your business? Do you keep it old school by keeping files? Do you have an app on your phone? I am genuinely curious how do you budget and plan
Generally AppFolio, we shouldn't be using it for the laundromat but do because I'm so used to it.... And hate quick books. Also use excel alot
@@InvestmentJoy Thank you for the reply! Personally, I am fascinated with the negatives vs the positives. For example how much profit you make per month/quarter. People don't understand how little profit can be made sometimes and how much goes out. You should really consider doing a budget video. You might be surprised how many views it would get-- people are into that stuff ( Budgeting ).
Just a guess but that coin machine probably gets more large bills because it’s right next to your ATM.
❤like the advice
I think you're counting your income wrong. The money you're making from laundry is in the quarters in the equipment , not the bills in the change machine. Someone could come in and get $20 in quarters but only spend $5 on laundry
This was the same thing I was thinking. Seems the count was/is wrong but maybe he has a method of accounting for the difference that we are unaware of. I would be interested in hearing how this is handled.
Thanks for checking. I explain it wayyy back in my old videos (maybe years ago at this point), but I need to film an updated explanation. I count the quarters by weight first to get a rough total, then with an individual counting machine. We count the bills right after. At this location, I haven't had an issue with quarters walking off, but we do have that problem at another business. The bills pretty well line up. I appreciate the comment and hopefully this clears things up.
Actually I only count the bills in the counter. I don't count the coins. Even though some people who are not customers take our coins by bringing in 20's and getting change, I still don't lose coins. Every 2 months or so I have an excess of coins that I need to wrap and deposit at the bank.
@@InvestmentJoy very interesting 🤔 makes sense though
@@InvestmentJoywhy do you do it this way? Im not sure I understand, it seems like it would make more sense to count the money in the machines to get an accurate total
Problem with the mat industry is that many owners don't understan the value of their business and dont raise prices to match inflation.
How do you go about purchasing a laundry Mat? And what's the dos and don't
He said I’m bossin up this month but I’ll be patient haha
I've lived in my house 20 years and haven't damaged my drywall or a door even once. What are tenants doing?
Druggie dem voters
Living.
They are not caring for property that is not theirs and being owned by a slumlord who does not care for them. That's what they're doing. When your tenants respect and appreciate you, things like this NEVER happen.
It's your house is why....so happy not to have apartments anymore.
@@truthseeking3818 that’s my current tenants… it’s a shame
I'm curious, how often do you have to clean out the lint filters on your dryers? Is it a monthly task? Is it difficult?
Every day or other day, takes 30s a unit or so
If that's a klein tester there is a recall on it, you can get hurt!
Noted
Don't forget the folding tables too.
why would you have so many cheap heaters for the apartments were i live they are not allowed in rental units and most fire depts have banned them they are a fire waiting to happen. have you had problems with the heating system for the units?
Sound is a bit distorted, just so you know :) Great video though!
consider doing another small youtube series with all your newfound clout, like, reviews, or something
Hey man my mom is trying to see if there is any trailer parks out at Mayes trailer court and I know you're a part owner of it and I was wondering if there was any way you could give me the information on how to find out if you guys have any for sale trailers or for rent trailers out there
Everyone gets their government money that first week, then its dries up towards the end of the month. Id wager that it influences a laundry mat pretty drastically, as it caters to lower income individuals.
That is not bad profit. My shop I manage turns over about 16K per week. Have around 150 machines total on the floor
why not buy a bill counter that does all them at once so you dont need to sort to count? one we have does counterfeit protection too
Have it, need to fix ir
with 1.6 million subscribers, you should be able to make that 10k fast with youtube monitization. Hope it woks well for you.
Lmao
But if I subsidize the business with RUclips is it honest?
@@InvestmentJoy What makes anybody on RUclips truly think that you're "honest" to begin with? You're a slumlord.
@@InvestmentJoyvery very valid point
Do any of the machines have card readers?
I have a question…
Which state is this legal?
I know some states don’t allow coin pushers with real money.
Please let me know.
Thanks.
Cool
Hi are you still doing mentorships?
Can you please tell me where to buy vending machines available in Asia?
hows it like down in chillicothe ohio?
inflated numbers, quarter count is true money count. Lets do this legit
Since you own a laundromat, is your area in high demand when it comes to cleaning clothes?
If you raise prices, you will make that $10,000 mark. I'd also do that do see how many people keep using the laundromat and how many go elsewhere before expanding.
As long as it’s not to expensive. It’s like gambling, you can be positive but if you get greedy you’ll spend it all trying to go more positive then you just lose and go home sad lol. If the community is giving the shop a good profit every month, I wouldn’t want to raise the prices to much or you just turn your back on the community
Why not digital currency for yourr machines?
Hi I know how can I buy bankruptcy Laundromat and carwash
Do you keeping the money you make or do you put money in the laundromat?
I Wana get in this
How do I get in contact with you
How much would you expect to pay someone to only clean the laundromat? Thank you.
Connect him via telegam
connect him via telegam
Earnwithxander
I don't know if he uses it.
@Adriana Hoffman where does he post his contact info? Could be a fake.
Wow don't understand people would luv a job that came with an apartment
You don’t seem like you need to raise prices
Huh
the audio is sometimes extremely hard to listen to
Hey Bob, thanks for letting us know. We'll make sure it's better in the next one.
It certainly wasnt centered in the apartment - kept panning
Why Doe's the USA not have $1 and $2 coin's like we have here in IRELAND because having €2 coins and €1 coin's makes things easy when you need to use coin's I whould go mad if I had to use 25c coins all the time.
For some reason they don't stick here. We have $1 coins but no one uses them like they do Euros. $1 euro is great.
We have $1s, we use em at the carwash and love em
Biden administration is working hard on devaluing our currency so that soon a dollar bill will be worth what a quarter was worth a few years ago, it won.t be long before the US starts minting dollar coins again, this time it won't be for a novelty but instead they will be used in quarter machines that are adapted to accept them instead of quarters.
We do, but I personally hate carrying coins. I rarely carry bills nowadays, since I mostly use credit card for everything.
I've always been fascinated by crypto but I don't have the slightest idea on how to start earning profit.
How is the car wash
Better, will have a update in a few weeks
Ok!!
Bet the kids can spend that cash in 45 minnutes . Lol maybe a new quad or jetski and bye bye cash .
What kids?
@@InvestmentJoy yours.
Unless you sold them
@@charlesyates6687 my kids are pretty efficient at saving and making decent choices.
Your rich,get your own 10000
Would you be willing to invest in a foreign business idea in a foreign country?
You need a claw machine as well . People love that kinda thing .
I agree
Okay these ads are getting more and more heavy
You mention in the video that you plan to raise prices, and that you have to. What changed that makes you have to? Bidenitis? I am assuming that your expenses went up, but I do not know which ones. Thanks.
Most small new businesses fail. It behooves you to absorb a major international corporation and go many billions in debt and become too big to fail like all big corporations, lol.
Working on it
You stopped putting great content here. I guess you took it into the community tab. Not much value nowadays on this channel
You haven't liked the last 3 videos? They had more positive reviews than content I've done in the past 2 years.