The Electrolux machines look great. Congratulations the place is shaping up. I love to hear someone tell the truth about the distributors in this industry. They are cons. Its not so free and they are a lot of work.
Claudio, thanks for sharing this golden nuggets. Did you do a demographics study before you signing the lease? Or did the previous operator have some customers coming in. Right now my fear is I'll lease a laundromat, put in machines and I can't get enough customers. But I can always do more marketing. WHat's your thoughts?
Glad you liked it. No I was given the demographics by the distributors after I already had the lease. But you can get a good feel for the community if you go into your nearest competitors store on a Sunday and just watch what kind of people come in. Also you should drive around the area and see the homes/apartments. See what kind of stores are around, AutoZone and family dollars is a good sign. That is a legit concern. Nothing in business is guaranteed. That being said, it's very important to have lots of free rent for the fact that it will take time to build up the customers. If the store you take over has been closed for a long time then they are all gone and it's hard to get them to come back. This is were marketing comes in. This is also why it's important to have some money in the bank, incase you have to support your laundromat out of pocket for a bit until you build up the customers. Finally, no one can promise you your business will be successful. It's a risk vs reward thing. You're off to a good start by asking questions and doing your homework.
You'll need a 20% down payment in order to get the machines. Then it's monthly payments. I didn't have the capital to pay 20% of what it would of taken to fill the store up with machines. I believe I would of need 100k as a down payment for that.
Danny's free laundromat course. It's good but it's not perfect. If you're serious a out the business, it's a great place to start. You'll need more tho.
That’s the next question I was going to ask did the landlord take care of the AC for you? I am at this point in the video and it seems like had to pay for the AC?
I did but it was only once I was able to come up with 20% down payment of the loan. But my mistake was not having cash on hand as I assumed that "free laundromat" meant free.
Good luck, I'll make a video sometime next week on how to find the best laundromats. I know some of his clients spent years looking but remember, there is no rush. Learn all you can and save your money. When the opportunity appears then you attack it.
I responded by asking this question in one of your comments below. I am going to put it on the main comment here. if you are not a client, I am about to buy the course and I am presently scouting laundromat, but I am happy. I found your channel. This is the first video I am watching, however is the tips and tricks in the course how to negotiate with the distributors because it seems like he is willing to give, his clients handholding in how to deal with the distributor just like how he is willing and so Zelous to help you get that free laundromat so you haven’t used him to get you a free laundromat and with the negotiations and you don’t have his help and consultation on how to negotiate with the distributors. Let me know if everything I said here is correct.
@@justinvestclaudio if you are not a client, I am about to buy the course and I am presently scouting laundromat, but I am happy. I found your channel. This is the first video I am watching, however is the tips and tricks in the course how to negotiate with the distributors because it seems like he is willing to give, his clients handholding in how to deal with the distributor just like how he is willing and so Zelous to help you get that free laundromat so you haven’t used him to get you a free laundromat and with the negotiations and you don’t have his help and consultation on how to negotiate with the distributors. Let me know if everything I said here is correct.
@menardtexsampson3745 There are no real tricks on how to deal with distributors in the course. No more than what he says in his videos here on RUclips, which is if you have the lease in hand, you hold the power. Which is somewhat true but not entirely. The course does have some good tips and if you wish to use him to make calls you have to buy the course and then pay for his number and then pay for him to negotiate. Does the course stand on its own? I used it on its own but I did end up paying lots of money so it wasn't free.
Invaluable stuff! Thank you!
Great content and not boring at all, thank you for the info and reality of the situation. Loke you said nothing is free! Subscribed!
$100k per every 1000 sqft for machines is GOOD INFORMATION!!!
The Electrolux machines look great. Congratulations the place is shaping up. I love to hear someone tell the truth about the distributors in this industry. They are cons. Its not so free and they are a lot of work.
Thanks for the kind words.
Great content!! Thanks for this video.
Claudio, thanks for sharing this golden nuggets. Did you do a demographics study before you signing the lease? Or did the previous operator have some customers coming in. Right now my fear is I'll lease a laundromat, put in machines and I can't get enough customers. But I can always do more marketing. WHat's your thoughts?
Glad you liked it.
No I was given the demographics by the distributors after I already had the lease.
But you can get a good feel for the community if you go into your nearest competitors store on a Sunday and just watch what kind of people come in. Also you should drive around the area and see the homes/apartments.
See what kind of stores are around, AutoZone and family dollars is a good sign.
That is a legit concern. Nothing in business is guaranteed.
That being said, it's very important to have lots of free rent for the fact that it will take time to build up the customers.
If the store you take over has been closed for a long time then they are all gone and it's hard to get them to come back.
This is were marketing comes in.
This is also why it's important to have some money in the bank, incase you have to support your laundromat out of pocket for a bit until you build up the customers.
Finally, no one can promise you your business will be successful. It's a risk vs reward thing. You're off to a good start by asking questions and doing your homework.
Great video.
this was a good video, Danny makes it seem like you dont need money or good credit
Yeah Danny has his good and bad. Definitely nothing is free or passive about this.
No, he definitely tells you "your an adult, fix your credit"
@blobtv7444 wrong. He makes it very clear that you need good credit and money.
I don’t understand how your distributor did not sell you all the machines you need?
You'll need a 20% down payment in order to get the machines. Then it's monthly payments.
I didn't have the capital to pay 20% of what it would of taken to fill the store up with machines.
I believe I would of need 100k as a down payment for that.
What video did you buy to learn how to start up
Danny's free laundromat course. It's good but it's not perfect. If you're serious a out the business, it's a great place to start. You'll need more tho.
That’s the next question I was going to ask did the landlord take care of the AC for you? I am at this point in the video and it seems like had to pay for the AC?
@menardtexsampson3745 Yes I had pay for the AC
You’ve assumed right, I don’t have a laundromat.
Keep watching, you're on the right path. 🙂
Why didn’t you finance them through the distrbutor?
I did but it was only once I was able to come up with 20% down payment of the loan.
But my mistake was not having cash on hand as I assumed that "free laundromat" meant free.
What happened to TI and abatement?
Landlord would not agree to any TI.
I was also only able to work out 4 months of abatement.
@@justinvestclaudio sounds like you did good did negotiations for the space kudos
I’m a client… no laundromat as yet… but we’re working at it
Good luck, I'll make a video sometime next week on how to find the best laundromats.
I know some of his clients spent years looking but remember, there is no rush.
Learn all you can and save your money. When the opportunity appears then you attack it.
I responded by asking this question in one of your comments below. I am going to put it on the main comment here.
if you are not a client, I am about to buy the course and I am presently scouting laundromat, but I am happy. I found your channel. This is the first video I am watching, however is the tips and tricks in the course how to negotiate with the distributors because it seems like he is willing to give, his clients handholding in how to deal with the distributor just like how he is willing and so Zelous to help you get that free laundromat so you haven’t used him to get you a free laundromat and with the negotiations and you don’t have his help and consultation on how to negotiate with the distributors. Let me know if everything I said here is correct.
@@menardtexsampson3745 I saw the other comment you made and responded there.
This is so real 😂 I love it
Rules to make money from a laundromat: have lots of money.
This is spot on. I hope to save someone the trouble of getting into a lease without money, thinking that they will get a free business.
Are you a client of Danny D.?
I bought his course yes but I'm not a client. If you'd like be to rate his course just let me know.
@@justinvestclaudio if you are not a client, I am about to buy the course and I am presently scouting laundromat, but I am happy. I found your channel. This is the first video I am watching, however is the tips and tricks in the course how to negotiate with the distributors because it seems like he is willing to give, his clients handholding in how to deal with the distributor just like how he is willing and so Zelous to help you get that free laundromat so you haven’t used him to get you a free laundromat and with the negotiations and you don’t have his help and consultation on how to negotiate with the distributors. Let me know if everything I said here is correct.
@menardtexsampson3745 There are no real tricks on how to deal with distributors in the course.
No more than what he says in his videos here on RUclips, which is if you have the lease in hand, you hold the power.
Which is somewhat true but not entirely.
The course does have some good tips and if you wish to use him to make calls you have to buy the course and then pay for his number and then pay for him to negotiate.
Does the course stand on its own? I used it on its own but I did end up paying lots of money so it wasn't free.
buy a few used machines and fill the empty spots
For sure! I'll probably end up buying 5 more washers in the future.
!!