@@at8736 by accident? Its not that big a deal to bug out over online, in an informal comment section 🤦🏽♀️ but I'll fix it for you so you can sleep better at night.
My mom owned a couple laundromats and video stores up until the 90’s and sold her last laundry and video store in 2000 . ( year before she passed away). I always worked at the stores and I swore I never would want to step foot in a laundromat again let alone own one. Now I’m 41 and I wanna own one lol. Obviously not a video store because they are pretty much extinct lol
Love seeing the progression, from mostly all empty the first week, to seeing one video being from 50th or 15th (cant recall) where he gets like 444 usd in quarters alone
they wont come through a lot but theyre very noticeable if youre talking silver. i bought 3 rolls for face value from a store i used to work at cost me $30 and was about $300 in silver. sadly i sold about 2 of those rolls by now but i am keeping the rest and a bunch of other interesting (mostly not valuable) coins.
I was sent out to collect on a pretty big apartment complex that hadn't been collected in a long time. After6 hours I looked at the van and it was so heavy the van was sitting on the axle almost. A few days later I asked how much was it and it was %11,500 in quarters try lugging all the up 4 flight of stairs in 21 buildings I was exhausted
I would be looking at upgrading the coke/pepsi/snack machines, those older vending machines are pretty easy to get into,. I repaired/rebuilt those machines for years, along with the bill validators and coin mechs. Some of the worst machines are the ones with barrel/tumbler locks, they werent even good when they were new 30 years ago LOL
I'd love to see you put in a pinball machine or two. They can be slightly high maintenance devices, so it may be a good idea to do like you do with the quarter pusher and contract out someone else to bring one in and stay in charge of maintaining it.
This is KOOL!!!! I have thought about opening a Laundromat myself. Do you provide a folding service? I think its also KOOL!! You have a coin pusher game. :)
I hope you quickly go through the quarters to check for pre 1964 quarters. As they’re 90% silver and worth about $3.40 each. They’re rare but they can be found out in the wild.
Yes, I always do and I also do a quick scan for any Bicentennial quarters. So far 8 weeks in I'm at one silver quarter and maybe 18 Bicentennial quarters
Investment Joy never thought of owning a laundry mat before. How do the numbers break down? What is your weekly/monthly profit. You did that at the end of the video. Thanks! Also the vending machines are brilliant. I bet a lot of people buy from them as an impulse buy.
@@lordrichard8184 I need to do some videos just based on the financial content profit and loss and stuff. I went into detail on Reddit about it but I guess a lot of my viewers never read what is on there. This month all ended about $4,000 and my cost of everything is going to be about $2,500 with a net profit of 1500. Most of that cost is fixed and not variable so as I make more money the cost goes up slightly putting me in a much better position.
Investment Joy I only watched your video because you posted a link in a Facebook group. The real estate millionaires master mind. Or whatever the graham Stephan group name is. Either way. You got a cool channel!!
Investment Joy is a new part of my self-education resources. I plam to spend a certain amount of hours per month on educating myself on how to make money.
Yes this is pretty cool I'm interested in you were saying about the mortgage and the payout of everything total costs that will give me a future reference even though everything changes but it still will give you a future idea of what I'm walking into before I even get started so
Personally i don’t like the way a front load machine washes. I prefer a top loaded with the agitation in the center. Cleans better. Buts that’s just me. Good luck on your business
For the quarter turn mechs... the only thing i can think is that people are putting in several quarters and then trying to turn the knob. The laundromat i go to has a bunch of these.... put quarter in, turn handle.. might need to smack the mech to make the coin fall (not hard, just enough to make a vibration) or turn it again... then repeat. It could simply boil down to education of the customer.
ChrisWithACam I understand where you are coming from with that statement. The Top 5 richest people in the world, and I, would disagree. The stock market is like any business, go in with the wrong strategy, wrong mindset and you’ll lose money. Just like if you opened a laundromat, started renting homes, an online business, with the wrong strategy, you will lose money. You need to change your mindset to understand where I’m coming from, I personally don’t invest in laundromats, but I understand with the right model they make money. That’s why I asked if he was going to diversify into stocks, not make fun of him for investing in a laundromat because I don’t know the ins and outs. Cheers.
ChrisWithACam You also mentioned it wasn’t safe, which indicates you could lose money. As for passive, please tell me how investing in a stock index or Coca Cola one time and seeing dividends continuously come in quarter after quarter not passive. Even in 2008-2009 when the market crashed, dividends from S&P 500 dropped 20%, Coca Cola increased dividends. In 2010 or 2011, dividends from S&P500 have increased to above the levels they were in 2008. Now dividends from the S&P500 are over 300% higher than they were just a decade ago. How is that not passive?
I own multiple laundromats. You can weigh your coins. What ever the weight is times it by 20 (you can minus the bucket weight so you get an accurate reading). This is super accurate
Some people like to do more than one load of laundry because I have one wash for work clothing a load for my nice stuff a load for my whites and maybe a load for my bedding when I do it once a month so I don't like to stuff it all in one load.
If you think quarters are heavy, try doing this in Canada with our loonies and toonies (one and two dollar coins) all mixed in with quarters, nickles, and dimes.
now i'm thinking how easy a mod can be done to that "tube/slot" to solve that. providing nothing important in the way just put in a bigger tube :) with a catch
Front-loaders are bigger, they do not necessarily wash better!!!! The wash cycle is a rip-off for the front-loader, at least near me. I am not sure if you are aware of this. How long is the wash cycle for your large front-loader that you discussed? I find the wash cycle (not rinsing, not spinning), needs to be longer at these 'mats.
What an exciting video. It would have been a lot more exciting with some clothes spinning in the dryer. The Coke and Pepsi machines were real interesting. I watched it six times.
Yes, the cost is $500/machine to upgrade which puts me at like $15k here to do. When we get all brand new machines, they almost always have card + coin readers in them without any extra fees.
Are you not allowed to just use the quarters and throw in your change machine? That way you are circulating change among your own equipment, but the bills that come into the change machine is your profit.
@@mattwalls1340 the ATM charges either two or three dollars to take money out of your account I can't remember what. Then I am supposed to collect 50% of that fee. The guy that service is it never remembers to bring the report. I think at this point I'm owed between 50 and $100
0:47 $2.50 for those Washers???? My Laundromat Starts at $5 and add another $1 if you want Hot, $1 for Extra Wash and the larger ones (Triple Loaders) start at $8.... With the $1 Hot and $1 Extra Wash.... Either I am getting Ripped Off OR You are Not Charging Enough.
@@seanheath711 it varies too widely. Between id say $30k and a million. I'm gonna do a super cheap from scratch laundromat soon and will post on channel
I would put "smile you're on camera" near or on many of the equipment that people would be tempted to steal from.
I DO! I just didn't show it in this video, i've got 2-3 bright orange signs.
you're*
How do people still get this wrong?
@@at8736 by accident? Its not that big a deal to bug out over online, in an informal comment section 🤦🏽♀️ but I'll fix it for you so you can sleep better at night.
RUclips: Want to be proud of a stranger?
Me: :)))))))
this.
Meeee!
3 months later....STILL DO!!!!!
Am I the only one who gets happy when he gets money
No you are not.
Lol not at all. My girlfriend thinks im weird for watching these type of videos. I really enjoy then
@@ginorojas8517 It is a fetish. LMAO
My mom owned a couple laundromats and video stores up until the 90’s and sold her last laundry and video store in 2000 . ( year before she passed away). I always worked at the stores and I swore I never would want to step foot in a laundromat again let alone own one. Now I’m 41 and I wanna own one lol. Obviously not a video store because they are pretty much extinct lol
I saw this in my recommended for no apparent reason. And for some reason this interests me, love the videos dude!
Thanks for making my day! I really enjoy these collection videos.
,please keep up the good work
You made it on my recommended! I like ehat you do and I think this is pretty cool. U deserve my sub!
Love seeing the progression, from mostly all empty the first week, to seeing one video being from 50th or 15th (cant recall) where he gets like 444 usd in quarters alone
Now only if you had the time to find the old valuable quarters in your haul.
they wont come through a lot but theyre very noticeable if youre talking silver. i bought 3 rolls for face value from a store i used to work at cost me $30 and was about $300 in silver. sadly i sold about 2 of those rolls by now but i am keeping the rest and a bunch of other interesting (mostly not valuable) coins.
I enjoy watching your videos. I’m still dreaming of opening my laundromat in the South Pacific soon.
Danny Siaumau think 100X before you get into this business, you dont wanna live in a quarter
But now on the other side of things... How much a month is Rent, water, gas, and insurance?
He has answered that in previous videos and also states what is considered acceptable profit margins in the business.
facts
I was sent out to collect on a pretty big apartment complex that hadn't been collected in a long time. After6 hours I looked at the van and it was so heavy the van was sitting on the axle almost. A few days later I asked how much was it and it was %11,500 in quarters try lugging all the up 4 flight of stairs in 21 buildings I was exhausted
5:45
“I bet you could look up and see how much a 10 lb...”
you caught yourself about to say weighs”
I’m proud of you just being your self you have amazing videos keep it up don’t listen too haters your amazing so keep it up
Always interesting to see how money is made with a business like this and find it cool to see you collect the quarters out of the machines
You should put a mini arcade back there. Some parents bring their kids with them, I know mine used to! You also wouldn't have to restock an arcade.
I'm still strongly considering it.
Investment Joy laundry mats need video games. Make laundry mats great again
Jealous of those prices. I was $4 to wash and $3 to dry here in Minnesota
Glad you feel thwt way, I've had complaints about the $2.50
$1.75 to wash and $1.25 to dry here in washington state!!
More collection videos, please!! I love your laundromat videos
I would be looking at upgrading the coke/pepsi/snack machines, those older vending machines are pretty easy to get into,. I repaired/rebuilt those machines for years, along with the bill validators and coin mechs. Some of the worst machines are the ones with barrel/tumbler locks, they werent even good when they were new 30 years ago LOL
I'd love to see you put in a pinball machine or two. They can be slightly high maintenance devices, so it may be a good idea to do like you do with the quarter pusher and contract out someone else to bring one in and stay in charge of maintaining it.
How long does it take you to usually empty all the machines when you are not trying to film?
10m max
I dont know why I love these videos so much.. but I do
This is KOOL!!!! I have thought about opening a Laundromat myself. Do you provide a folding service? I think its also KOOL!! You have a coin pusher game. :)
Totally fascinated. Really mesmerizing!
I hope you quickly go through the quarters to check for pre 1964 quarters. As they’re 90% silver and worth about $3.40 each. They’re rare but they can be found out in the wild.
Yes, I always do and I also do a quick scan for any Bicentennial quarters. So far 8 weeks in I'm at one silver quarter and maybe 18 Bicentennial quarters
Investment Joy never thought of owning a laundry mat before. How do the numbers break down? What is your weekly/monthly profit. You did that at the end of the video. Thanks!
Also the vending machines are brilliant. I bet a lot of people buy from them as an impulse buy.
@@lordrichard8184 I need to do some videos just based on the financial content profit and loss and stuff. I went into detail on Reddit about it but I guess a lot of my viewers never read what is on there. This month all ended about $4,000 and my cost of everything is going to be about $2,500 with a net profit of 1500. Most of that cost is fixed and not variable so as I make more money the cost goes up slightly putting me in a much better position.
Investment Joy I only watched your video because you posted a link in a Facebook group. The real estate millionaires master mind. Or whatever the graham Stephan group name is. Either way. You got a cool channel!!
@@lordrichard8184 thanks, I'll try and figure out a good way to kind of merge em all together
How would I be able to start a business like this
Add a gumball machine? Love the money collection videos!
What is your collection rate ? Daily weekly big weekly or monthly?
Our apartment building has n Oakland CA just installed these. Its all CC based no quarters.
I'm new to your channel. And I love it .
Investment Joy is a new part of my self-education resources. I plam to spend a certain amount of hours per month on educating myself on how to make money.
Yes this is pretty cool I'm interested in you were saying about the mortgage and the payout of everything total costs that will give me a future reference even though everything changes but it still will give you a future idea of what I'm walking into before I even get started so
I've got a P&L statement on the channel, will have another in a couple days.
Personally i don’t like the way a front load machine washes. I prefer a top loaded with the agitation in the center. Cleans better. Buts that’s just me. Good luck on your business
For the quarter turn mechs... the only thing i can think is that people are putting in several quarters and then trying to turn the knob. The laundromat i go to has a bunch of these.... put quarter in, turn handle.. might need to smack the mech to make the coin fall (not hard, just enough to make a vibration) or turn it again... then repeat. It could simply boil down to education of the customer.
Put out a sign on the them and say doing more than one load use the big guy save money
they hold upto 4 times these small ones.
Here before 25K views. 50K. 100K. 1M. Idk why this was in my recommendations but it’s gonna go viral for some reason.
Congrats it kinda did.
Have you thought about diversifying your laundromat income into the stock market for other passive income streams?
Lol stock market isn't passive income, or a safe investment.
ChrisWithACam I understand where you are coming from with that statement. The Top 5 richest people in the world, and I, would disagree. The stock market is like any business, go in with the wrong strategy, wrong mindset and you’ll lose money. Just like if you opened a laundromat, started renting homes, an online business, with the wrong strategy, you will lose money.
You need to change your mindset to understand where I’m coming from, I personally don’t invest in laundromats, but I understand with the right model they make money. That’s why I asked if he was going to diversify into stocks, not make fun of him for investing in a laundromat because I don’t know the ins and outs.
Cheers.
@@RealMattMoney that advice really goes for any business and investment. I was just simply stating that stocks aren't passive.
ChrisWithACam You also mentioned it wasn’t safe, which indicates you could lose money.
As for passive, please tell me how investing in a stock index or Coca Cola one time and seeing dividends continuously come in quarter after quarter not passive.
Even in 2008-2009 when the market crashed, dividends from S&P 500 dropped 20%, Coca Cola increased dividends. In 2010 or 2011, dividends from S&P500 have increased to above the levels they were in 2008. Now dividends from the S&P500 are over 300% higher than they were just a decade ago. How is that not passive?
Have you thought of adding card readers to the laundry machines? And vending machines ?
I own multiple laundromats. You can weigh your coins. What ever the weight is times it by 20 (you can minus the bucket weight so you get an accurate reading). This is super accurate
You're right, but i got a totally awesome heavy duty coin counter recently and use it in my videos.
Better than the other one. 👍🏼
What part of Ohio do you film out of? Just curious what major city is near you and how that affects business.... love the vids, from NJ
Some people like to do more than one load of laundry because I have one wash for work clothing a load for my nice stuff a load for my whites and maybe a load for my bedding when I do it once a month so I don't like to stuff it all in one load.
If you think quarters are heavy, try doing this in Canada with our loonies and toonies (one and two dollar coins) all mixed in with quarters, nickles, and dimes.
You need to get bill exchange turn $20.00 to four $5.00 then $5.00 to quarter. And get your own Quarter pusher !!!
Did you end up ripping out the 50's fireball dryers?
Do you keep an eye open for rare or silver coins/notes?
It wouldn’t matter since those machines only accept quarters
@@dustanlee9803 Yes, and all quarters minted before 1964 were 90% silver.
So do you base your earnings off of the bill changer? I see you dump the coins you collect into the hopper. Fascinating really
Trill Clinton yeah the same coins get recycled over and over again through the washers
looking forward to the next video!
Good to hear!
now i'm thinking how easy a mod can be done to that "tube/slot" to solve that.
providing nothing important in the way just put in a bigger tube :) with a catch
Front-loaders are bigger, they do not necessarily wash better!!!! The wash cycle is a rip-off for the front-loader, at least near me. I am not sure if you are aware of this. How long is the wash cycle for your large front-loader that you discussed? I find the wash cycle (not rinsing, not spinning), needs to be longer at these 'mats.
Let's make this one of the biggest channels on yt 😎
Been following since the Wicked Fire thread
Nice Kershaw.
What an exciting video. It would have been a lot more exciting with some clothes spinning in the dryer. The Coke and Pepsi machines were real interesting. I watched it six times.
Did you find silver quarters?
do you have a community board for schools, etc. to post ?
Yeah, it's on the wall when you first walk in.
@@InvestmentJoy awesome, enjoy your adventures!
Have you thought about getting card readers for your any of the machines? (mainly the vending machines)
Yes, the cost is $500/machine to upgrade which puts me at like $15k here to do. When we get all brand new machines, they almost always have card + coin readers in them without any extra fees.
You should get a 5 gallon water jug and fill it with the quarters and then see how much it is worth when it is filled
*chuckle* these videos are kind of like "the most dangerous catch" where they haul up a crab pot to see how full they are....
Accurate!
Hey do you have a machine that automatically rolls quarters? What would you recommend link?
Nice video by the way, how can i contact you ?
Thanks again
Im new to your channel and i really like it. Just curious how big is this town your laundromat is in.
26k population
@@InvestmentJoy alright thanks for the quick response. And that is alot bigger than the town i live in for sure.
Are you not allowed to just use the quarters and throw in your change machine? That way you are circulating change among your own equipment, but the bills that come into the change machine is your profit.
That's what I do I address this in one of my later videos.
Do you do wash and fold service? Price per pound ? Do you pick up and deliver? For home bound money is everywhere just hv to be creative
What does your utility bill look like??
I'll be going through all that soon on the channel.
I guess some people are old fashioned and like using top loaders. I likely would use your 35lb loaders
While watching this I also saw your subscriber count rise about 300 after I click subscribe
What is the population of the town the laundromat is in?
26000
@@InvestmentJoy Thanks. Been eyeing a mat myself...but their price is insane lol.
Do you make money off that ATM machine?
What brand are the older dryers (the ones that were turquoise?
Hubesch
What about the stacked ones? Also, did you just seal off the room that had those old fire ball dryers in it?
@@isaac24 ADC stacked dryers. Yes on those but fire department would require egress door if we opened it up
Did you end up tearing those dryers out?
Ooo wowo u did update a lot since first video
I'm guessing the atm machine is full of cash.
yea, but he wont have access to that. It will be owned and restocked by another company. They get a message from the ATM when it needs refilling.
I might have a extra gopro type camera I could send you.
Just find me a harness, believe it or not there's an Aldi brand knockoff gopro hero 4 , and i Have two. The mounts they come with SUCK.
@@InvestmentJoy what type would you want. I have a chest mount and head mount
@@orto6356 I just need to know what works decent so I can order it off amazon.
I would check the quarters, chances are that you could end up with silver quarters worth more than 25 cents
I try, just hard to check em all, last collection on my page was 2,709 quarters.
How much in quarters do you keep in the change machine at all times $200 or more?
What’s the square footage of your laundromat?
I have been thinking about starting a small laundromat in a small tourist town near me
What advice could you give me. Any would be much appreciated.
Start doing it bro, thats really it
I bet there's a few good quarters a few collectors would live to look
Do you owe the ATM or someone else?
Someone else and I've demanded a payout for this entire time next week. I haven't made $1 off it yet.
This is like gambling, how much will I win from each machine!
Great stuff
Thanks for watching
Does that ATM pay you for having there machine there? Do you get any revenue off that?
I still haven't made a dime.
@@InvestmentJoy if you don't mind me asking what are you supposed to make off having there Atm there?
@@mattwalls1340 the ATM charges either two or three dollars to take money out of your account I can't remember what. Then I am supposed to collect 50% of that fee. The guy that service is it never remembers to bring the report. I think at this point I'm owed between 50 and $100
@@InvestmentJoy Thank you for explaining it.
hello im new to your channel amazing video i just seen you on pusa studios lets stay connected
How did you find to lend you money to purchase a laundry mat?
I'm pretty decent at writing business plans and shopping them around to investors.
Where can you buy lander
love the Leek....
Nice!!
You should buy a cart and a 5 gallon bucket to cartyiuchage around and dump your coins faster. I noticed a Asian do this in Philly.
eat detergent (sorry love the videos, keep investing brotha) 2770!
Good info
Link to old reddit thread?
Here's the thread: www.reddit.com/r/Entrepreneur/comments/cqa3ye/so_a_few_months_back_i_bought_a_laundromat_heres/
0:47 $2.50 for those Washers???? My Laundromat Starts at $5 and add another $1 if you want Hot, $1 for Extra Wash and the larger ones (Triple Loaders) start at $8.... With the $1 Hot and $1 Extra Wash.... Either I am getting Ripped Off OR You are Not Charging Enough.
I bet he’s from the Utah area based on the way he says measure
Did you start from scratch or take over someone's business?
It had all the equipment in it, but had been closed for nearly a year.
@@InvestmentJoy did you look into how much of an investment it would be from scratch?
@@seanheath711 it varies too widely. Between id say $30k and a million. I'm gonna do a super cheap from scratch laundromat soon and will post on channel
Good luck man.
you should throw some phone charges and tylenol in the vending machine.
Wow, it’s like you’re hunting down nuts hidden by a money hoarding chipmunk, the way there are quarters tucked in little spots everywhere! 🥜 🐿
150 quarters is my answer :)
The line on the cup is not $50 or $100.
You need a harness for your camera . Cause you lose your sound while dumping lol
CHECK FOR SILVER QUARTERS!
I wonder if it will take you 40 years to break even lol