Exactly this. He's earning essentially savings account interest as his ROI after all of the money poured into the renovation and the mortgage on the new equipment. To the "average joe" watching these, don't quit your day job to start up/buy a laundry mat unless you can also spin off a web series on it.
@Brandon Kilian Every business is different. One thing is he hires cleaners. Other people might just do it themselves and take home a lot more if that's where they wanted to divert their time into just one business.
mats won't make you rich but it will give some extra income, he is also outsourcing his cleaning if he wanted he could come in every other day and clean it himself and save whatever they charge but that's his financial decision.
Love the financial breakdowns, they are very insightful. Love when people talk about finances so openly because it’s very taboo for a lot of people normally
@@StefanDeleanu it being taboo is only beneficial to employers. If people don't know how much their cowokers earn that means the employer can underpay you. In my country at least everyone openly says how much they earn. All financials are public so everyone knows how much everyone else is making.
@@InvestmentJoy I would really like to see a video where you show us what you have been able to write off for your businesses! BTW I’m an OG subscriber
I've always felt that if you dont need to rely on it to feed your family a break even business is a keeper assuming you have the potential for growth and it doesn't require an over abundance of time. Break even businesses still increase in value and can help with offsetting tax liabilities in other businesses.
1. Change the payment system from Coin to Card or IoT QR 2. Open small laundromat outlet with 8-12 set washer dryer, then multiply the outlets in different places
You'd be surprised how many more people you'd have going to your laundromat if you kept the coins in dollar bills instead of using cards. People from low income areas enjoy using cash instead
@@InvestmentJoy Wait what? Holy crap, no wonder so many teens and early 20's are trying to be RUclips stars! Man. I need to start a channel and make videos about, I dunno, hmm. Cats are already done a lot. I know, videos of me making stupid RUclips comments like this one! 1M subs here I come!
You're a smart cookie, well done; nothing pretentious, just hard work and thousands of people with nothing better to do for 10 to 15 minutes but watch clips. Absolutely brilliant.
Interesting to see the numbers. Thanks for sharing them. I found it interesting as well that you notice a difference in the location of the washer in regards to how much it collects each week. Maybe it's something related to safety, where people can't see the doors or they don't feel as free or something like that. Perhaps adding a parabolic mirror would help
May I suggest, you purchase, a head or chest camera mount. Giving you both hands free. It would save you a huge amount of time, if you have a central money collection point... with a control panel, where you could chose the machine you need to use.
One thing I learned as a contractor is to factor your own salary into COGS. After all, you could quit and do something else… opportunity costs and all. Once you add what you should be paying yourself… hmmmmmmmm…..
I'm much prefer this style video. High quality film with the voiceover is much better! Good editing with the numbers at the end as well. Keep on doing what you're doing bud!
You definitely need to look into the opportunity of setting up your machines to take debit cards I'm sure there's additional costs for the materials and possibly monthly fees through the phone line
I have a theory on the south side washers. South side washers are in front of the door which is why people use them. It’s the Path of least resistance. The only reason to use the others is if there are not south side washers available. I’m not sure if there is a way to capitalize on that info.
I find that it's mostly older people who don't understand electronics well still using topload machines or because some old laundromats have a topload rate that hasn't been raised in 20 years.
You've probably already answered this question already, but just incase: Do you own or lease the building? If you own it, is it in a position that you can install solar on the roof? Solar panels are as cheap as they've ever been, and can start generating revenue in just a handful of years. Coupled with a battery system, it's likely you could save quite a bit of money as I'd imagine that a lot of the laundry happens in the evening when people get home from work. You'd likely be able to move from a traditional boiler to an electric water heater, saving you even more money on utilities.
When I got into the 🚛 in back a long time ago an ole timer told me that trucking was a business of nickels.. After while I found out I was making dimes (per mile, based on more trucks and higher paying freight runs). I never did forget my nickel customers though!!
I was told by a former owner of a laundromat is that the wash and fold part of the business is the profit. The machines just pay for themselves. If you make that much on RUclips why bother.
With $55 of profit and $3100 of revenue that's only a 1.7% profit margin. That better than you'd get an a Certificate of Deposit or US treasury bond right now so as long as you don't have a better alternative, keep it going. Where you're making bank on RUclips, it's definitely work keeping just to keep making videos.
Interesting that the one cost you don't include is the value of your time. How many hours are you spending going to collect the money, going in to refund people when money has run out etc. Even at a minimum wage that's going to bite into it even more. Lovely to see how much you make from RUclips though!
This is so awesome that you bought new equipment I say you be making more cause that’s what ppl like new models and now time to remodel the outside lol
If your new $100K of equipment lasts 10 years, that's about another $800 a month you need to sock away, even assuming no interest on the loan! And you have to also subtract say $15 an hour for your time and the cleaner's time and maintenance costs. You are paying money to lose money.
I would have to disagree, the old washers with the cone in the middle clean my clothes. The expensive new ones are trash, they don't scrub any stains and are a total rip off.
Hey I want to buy one of those soda vending machines. Where should I buy it? Where should I put it? Will I be able to put it anywhere without permission? How much should I charge for a soda?
Love these videos but I do feel like laundry mat are going out of business. If I live in a small apartment I would go buy a portable washer. The land lord is paying for water so you can wash as much clothes you want. In Asian countries portable washers are a big thing and now it is being adopted in America because of the convenience and expenses
i think that laundry is worth to keep, as long not losing money! i bet poor part of the society uses it, and i think you just have too many washers so the more back ones makes less bcs people goes for closest ones! in here we dont have those laundrys EVERY apartment building is mandated to have shared laundry over here!
Buy a laundromat and make drama (coin stuck, screwdriver in machine, client put cat inside the dryer) be rich? You know what you’re doing and I’m following your steps.
Yeah I don't mean this is a mean way, but there is a kind of comedy (I laughed at the unintentional humor!) that 17 minutes in, this concludes with "$55 made at laundromat.... $170,000 made with RUclips"
I've missed the laundromat video fantastic work from a long time subscriber I'm itching to find out what happend to your trailer park Brandon as you were recently renovating it and how is the car was remake going keep up the top work from the uk
Correct if I’m wrong but your total expenses is actually wrong. It’s 3467.5 and not 3067.5 Unless you don’t pay for gas & electric (and some water). So you are losing money keeping this place open ($-344.5)
Card readers are yesterday. It is all moving to phone apps. Download app on phone. Add money to phone. Use phone to start machine. Machine has bluetooth reader installed info from the phone.
So today I guess we learned that the way to make money owning a laundromat is to document owning that laundromat on RUclips.
Exactly this. He's earning essentially savings account interest as his ROI after all of the money poured into the renovation and the mortgage on the new equipment. To the "average joe" watching these, don't quit your day job to start up/buy a laundry mat unless you can also spin off a web series on it.
@Brandon Kilian Every business is different. One thing is he hires cleaners. Other people might just do it themselves and take home a lot more if that's where they wanted to divert their time into just one business.
mats won't make you rich but it will give some extra income, he is also outsourcing his cleaning if he wanted he could come in every other day and clean it himself and save whatever they charge but that's his financial decision.
He also got the math wrong, he didn’t make any profit. Calculate it yourself, if anything it’s a deficit unless he provided us with wrong numbers
@@BroiledSourGrapes You don't have to quit your job to own a business. You can always own a laundromat while have ING a regular job.
The new machines, paint and floors make it look so much better. Nice job on the renovation, I'm sure the neighborhood is happy.
Love the financial breakdowns, they are very insightful. Love when people talk about finances so openly because it’s very taboo for a lot of people normally
It's taboo because of lack of education and proper culture incentive
@@StefanDeleanu it being taboo is only beneficial to employers. If people don't know how much their cowokers earn that means the employer can underpay you.
In my country at least everyone openly says how much they earn. All financials are public so everyone knows how much everyone else is making.
Love the laundromat vids
Thx
@@InvestmentJoy
I would really like to see a video where you show us what you have been able to write off for your businesses! BTW I’m an OG subscriber
@@InvestmentJoy do you check for old coins ( 1964 silver etc ).
Evil
Evio
Video/Audio quality has gone up dramatically! Love it!
I feel like you might be the first person on youtube to ACTUALLY disclose how much they make in youtube alone.
Graham Stephan
No cap I was like oh word 😭😭
I've always felt that if you dont need to rely on it to feed your family a break even business is a keeper assuming you have the potential for growth and it doesn't require an over abundance of time. Break even businesses still increase in value and can help with offsetting tax liabilities in other businesses.
They can also create jobs and keep food on the table for your workers.
I just bought a laundry Matt in December hoping to open soon I’m so excited for it
Best of luck, Alex!
OMG I just realized that this laundromat is in my hometown.
Congratulations
what town
@@complainingperson2883 Chillicothe, OH
@@thespy5938 Go Bucks! Beat Michigan!!!
These kind of videos are golden! From my experience working at a laundromat in my youth, you're checking all the boxes. And yes, front loaders RULE! 👑
Gotta love the candid honesty about your buckets... This is what I come to your videos for.
I fixed it today with a 5 gallon bucket of quarters, but bank wouldn't let me video it.
1. Change the payment system from Coin to Card or IoT QR
2. Open small laundromat outlet with 8-12 set washer dryer, then multiply the outlets in different places
You'd be surprised how many more people you'd have going to your laundromat if you kept the coins in dollar bills instead of using cards. People from low income areas enjoy using cash instead
YES, laundromat content! Can you please make more vids on the laundromat?
@@user-ez7vq2xe2c THis is a fake comment, impersonating someone
170k a month in RUclips Revenue? My gawd, that is incredible
It's in a year thought I said that in the video
@@InvestmentJoy No, it was shown with the revenue for the laundromat for the month, so I was assuming it was the month
$55 a month, sign me up! Ha.
@@InvestmentJoy Wait what? Holy crap, no wonder so many teens and early 20's are trying to be RUclips stars! Man. I need to start a channel and make videos about, I dunno, hmm. Cats are already done a lot. I know, videos of me making stupid RUclips comments like this one! 1M subs here I come!
@@geebee7529 Just do it...Go for it.....lol....
So what if you only make maybe $1000 month..
Good luck...
You're a smart cookie, well done; nothing pretentious, just hard work and thousands of people with nothing better to do for 10 to 15 minutes but watch clips. Absolutely brilliant.
Honestly, if I had to touch all that cash I'd wear some gloves. Especially if it was only for $55 dollars a month.
The laundromat looks 100% better than when you first purchased. Nice job, I couldn't see the vision, but you did. Peace.
Interesting to see the numbers. Thanks for sharing them. I found it interesting as well that you notice a difference in the location of the washer in regards to how much it collects each week. Maybe it's something related to safety, where people can't see the doors or they don't feel as free or something like that. Perhaps adding a parabolic mirror would help
Absolutely love the transparency from this guy!!! That proves he's an HONEST business man👏👏👏💪💪💪👍👍
The sound of coins cascading into your bucket must be ASMR for Mr. krabs.
Here in nyc the prices for big machines are $8 small machines are $3 and medium machines are $6 dryers are .25
For some reason, THIS video, your voice is SO SOOTHING. The tempo, the cadence, it was very calming.
You should research starting a putt putt business, it seems pretty passive with not much upkeep
I have looked at them in depth you just need a big space and right now those tend to have a premium in my market
@@InvestmentJoy What about something like 2 story? Cram as much as possible in small lot
@@jaredk3962 who would want to cart their laundry up a flight of stairs?
@@letsgobrandon7567 I was referencing the comment above about a putt putt course
@@jaredk3962 so you want to put a putt putt course on a second floor ?
May I suggest, you purchase, a head or chest camera mount. Giving you both hands free.
It would save you a huge amount of time, if you have a central money collection point... with a control panel, where you could chose the machine you need to use.
The financial breakdoqn part of the video was an awesome idea, I'd like to see that as a mainstay in all of the videos
One thing I learned as a contractor is to factor your own salary into COGS. After all, you could quit and do something else… opportunity costs and all.
Once you add what you should be paying yourself… hmmmmmmmm…..
lol, the final break down is hilarious
I would get a new floor guy. Looks best when the long lines go with the longest side of the room. Also can offset them so a pattern doesn't appear.
I love quarters. My friends are always like put my change down. I'm like I thought you didn't want them, they're all over the floor.
I like the videoing at 7:15 much better than the POV collections. More satisfying
I'm much prefer this style video. High quality film with the voiceover is much better! Good editing with the numbers at the end as well. Keep on doing what you're doing bud!
I remember when this channel had below 100k subscribers good job on your success.
This guy is making money while showing us he is making money thats what i call business
Looks like the Coke machine needs a cleaning around the compressor and radiator
That is what I thought too.
You definitely need to look into the opportunity of setting up your machines to take debit cards
I'm sure there's additional costs for the materials and possibly monthly fees through the phone line
I like how he explains what he’s doing and basic specs. About each machine that he’s emptying
I do think your laundromat is well worth it. It is your tool to make RUclips content which makes you more revenue.
I love counting money. It was my favorite thing to do when I was a kid, counting the money in my piggy bank. This seems like such a cool job.
I enjoy all your Vlog-styled revenue reveals
Breakeven today, hopefully profitable tomorrow
I have a theory on the south side washers. South side washers are in front of the door which is why people use them. It’s the Path of least resistance. The only reason to use the others is if there are not south side washers available. I’m not sure if there is a way to capitalize on that info.
I've seen guys raise the popular ones a quarter to force even usage
I find that it's mostly older people who don't understand electronics well still using topload machines or because some old laundromats have a topload rate that hasn't been raised in 20 years.
The real business here is the RUclips channel!
Yeah, I think keep it because with the upgrades you can sell it higher than other laundry mats
Cash businesses are the best. You can always put a little on the side. Into your shoe box. Nobody is the wiser. America... Hell Yeah!!!
Best of luck w your projects my friend I wish nothing but the best for you :))
You've probably already answered this question already, but just incase: Do you own or lease the building? If you own it, is it in a position that you can install solar on the roof? Solar panels are as cheap as they've ever been, and can start generating revenue in just a handful of years. Coupled with a battery system, it's likely you could save quite a bit of money as I'd imagine that a lot of the laundry happens in the evening when people get home from work. You'd likely be able to move from a traditional boiler to an electric water heater, saving you even more money on utilities.
When I got into the 🚛 in back a long time ago an ole timer told me that trucking was a business of nickels.. After while I found out I was making dimes (per mile, based on more trucks and higher paying freight runs). I never did forget my nickel customers though!!
I've never washed my clothes at a laundromat, but I support them by watching only laundromat videos on RUclips.
Yes. Love the financial breakdown
Love the video and it was nice meeting you the other night
A clean business is always attractive.
I was told by a former owner of a laundromat is that the wash and fold part of the business is the profit. The machines just pay for themselves. If you make that much on RUclips why bother.
what about just buying a lot of vending machines and spreading them around the city
Sure
@@InvestmentJoy that would be a pain to manage wouldn’t it?
@@Guardian1771 yes, but that’s what I do since I’m in college and have tons of time.
@@aftershock5017 I don’t believe Investment Joy is in college so that’s kinda irrelevant
Unless you, or your uncle, owns the businesses, very difficult. Most decent locations are already taken.
Also do you sell detergents and whatnot at your laundry mat ? Also do you put drink and snack machines there and at the trailer park
Not even sure how im subbed to this channel...... but I wierldylove it!
Find something your passionate about and film it. Sounds like a good business plan 👌
You need to label your machines so customers know the difference.
Not going to lie, I miss the old money changer with no bill collector :0
That's at a different store.
@@skiingfast1 ??? What are you talking about??? It is the original laundrymat that has just been renovated.
This channel is under rated
With $55 of profit and $3100 of revenue that's only a 1.7% profit margin. That better than you'd get an a Certificate of Deposit or US treasury bond right now so as long as you don't have a better alternative, keep it going. Where you're making bank on RUclips, it's definitely work keeping just to keep making videos.
Interesting that the one cost you don't include is the value of your time. How many hours are you spending going to collect the money, going in to refund people when money has run out etc. Even at a minimum wage that's going to bite into it even more.
Lovely to see how much you make from RUclips though!
Kia to Expedition? WHOA there, Mr. Money Bags!
This is so awesome that you bought new equipment I say you be making more cause that’s what ppl like new models and now time to remodel the outside lol
When I saw those trays being placed on top of the washer and with that opening I panicked. Lucky that no quarters fell into the machines.
I surprisingly found this very enjoyable and interesting to watch
“Is my laundromat making money?”
Me: Laundromat is my making money”
If your new $100K of equipment lasts 10 years, that's about another $800 a month you need to sock away, even assuming no interest on the loan! And you have to also subtract say $15 an hour for your time and the cleaner's time and maintenance costs. You are paying money to lose money.
AAAHHGGGG I AM SO BEHIND ON ALL MY NOTIFICATIONS
Love your videos! Very inspiring for me. 👍🏻
You upgraded the machines they look new!
Deduction on the interest from the loan, depreciation on the machines, making more than $50
If you have any quarters from 1964 or older they have silver in them and are worth about $5 per quarter.
plus you have to add all the free change left in pockets
Subscribed from Vancouver Canada. Love your videos.
$55 cashflow before even taking a salary. That's rough. Really rough... thanks for the truth though!
his salary is 55 bucks a month.
but he made 170k on youtube
Thumbnail: Laundromat is my making money?
Title: Is my laundromat making money?
Me: oh. 🤦
I would have to disagree, the old washers with the cone in the middle clean my clothes. The expensive new ones are trash, they don't scrub any stains and are a total rip off.
Hey I want to buy one of those soda vending machines. Where should I buy it? Where should I put it? Will I be able to put it anywhere without permission? How much should I charge for a soda?
Yeah
Love these videos but I do feel like laundry mat are going out of business. If I live in a small apartment I would go buy a portable washer. The land lord is paying for water so you can wash as much clothes you want. In Asian countries portable washers are a big thing and now it is being adopted in America because of the convenience and expenses
Video idea... Brandon does laundry in his own laundromat 👕🧦👖
170k$ from RUclips?! Keep doing videos! I love them!!!!
Love your video 😍 , you have a new subscriber.
Could you purchase your equipment etc in the UK?
i think that laundry is worth to keep, as long not losing money! i bet poor part of the society uses it, and i think you just have too many washers so the more back ones makes less bcs people goes for closest ones! in here we dont have those laundrys EVERY apartment building is mandated to have shared laundry over here!
Laundromats are there to launder money, not make a profit on their own. It's right on the name.
4:50 that’s not being a cheapskate your just picking up something you dropped it’s common sense
Those that don't appreciate the small, don't deserve the big
This was a great breakdown!! Kinda curious how much all the new machines cost and how long the payback period will be on them.
Love the store of this video. Really nice.
Buy a laundromat and make drama (coin stuck, screwdriver in machine, client put cat inside the dryer) be rich? You know what you’re doing and I’m following your steps.
Great content as always
Thanks for the update.
Yeah I don't mean this is a mean way, but there is a kind of comedy (I laughed at the unintentional humor!) that 17 minutes in, this concludes with "$55 made at laundromat.... $170,000 made with RUclips"
I've missed the laundromat video fantastic work from a long time subscriber I'm itching to find out what happend to your trailer park Brandon as you were recently renovating it and how is the car was remake going keep up the top work from the uk
basically without the new equipment loan, you would have been clearing around a grand give or take
Looks like a nice pace at the coin laundry
Should check for silver quarters. You never know
That's a cool keyboard for your computer.
Correct if I’m wrong but your total expenses is actually wrong. It’s 3467.5 and not 3067.5 Unless you don’t pay for gas & electric (and some water). So you are losing money keeping this place open ($-344.5)
I don’t how hard they are to set up but ever think of adding a card reader to the change thing or may a way to pay with cards
I’m down here in West Virginia and we have a couple nice laundromats like yours and some sketchy ones
Card readers are yesterday. It is all moving to phone apps. Download app on phone. Add money to phone. Use phone to start machine. Machine has bluetooth reader installed info from the phone.
It's the equipment loans that hurts the business