My Laundromat Made $8,335.25 This Month!

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  • Опубликовано: 30 окт 2024

Комментарии • 83

  • @KingofLaundry
    @KingofLaundry Год назад +10

    I took a clients store in CT from $33K a month to $55K. We worked on cutting fat, and advertising. His store is 2,500 sq ft.

  • @MattTheComputerGeek
    @MattTheComputerGeek Год назад +10

    Brandon you should add lights in the middle of the laundromat so its not dark.

  • @TheLaundromatBusiness
    @TheLaundromatBusiness Год назад +1

    i'm sure your hard work and dedication are paying off! Keep up the good work!

  • @jackmcgee2515
    @jackmcgee2515 Год назад +3

    Awsome, Some simple suggestions: Use "," and 2 decimal ( or none) number formatting when reporting $$$, reads better. Also use "Freeze Top Row" so column labels appear as you scroll down. spreadshet

  • @sheps5656
    @sheps5656 Год назад +30

    Honestly the Excel spreadsheets are probably some of the more valuable content you put up. It won't get the views but man seeing that stuff is important! I'd love to see more

    • @missrhinestone7800
      @missrhinestone7800 Год назад

      Same here, I really enjoyed seeing the spreadsheets

    • @InvestmentJoy
      @InvestmentJoy  Год назад +12

      I agree, but the videos generally do quite poorly on my end and are unprofitable, so we have to try and keep playing around w formats that draw views, and then integrate the spreadsheets better.

    • @sheps5656
      @sheps5656 Год назад +1

      @@InvestmentJoy Yea I understand that from a business perspective it doesn't make sense to make the content but from a consumer stand point those vids are so valuable. All the real valuable stuff is boring though and doesn't make for good content.

    • @benjnse
      @benjnse Год назад +2

      ​@@InvestmentJoy They may be unprofitable but I would consider them to be loss leaders. Honestly the videos that actually break down the financial numbers are why I'm subscribed and watch any of the videos.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +1

      @@benjnse Glad you liked it, just wish I could do em more, AND on the carwash ( Can't due to NDA there)

  • @lorrainecarter7457
    @lorrainecarter7457 10 месяцев назад

    I love watching you collecting the money and counting it up in the machines

  • @marksmith4512
    @marksmith4512 10 месяцев назад

    LOVE LOVE LOVE your spreadsheet videos!! Keep doing them!

  • @OhRonaldo
    @OhRonaldo Год назад +3

    Thank you for explaining just some of the blood, sweat and tears that ACTUALLY go into running your businesses.
    I'm really crossing my fingers hard for you Brandon that your machines hold up well, and get past your finance payments without starting to hurt you in repairs.
    Couple of quick questions:
    What did you mean about your store being not level and losing $20? I missed something.
    Are you required to do a year-end inventory (including quarters) for Ohio?
    Thanks! I love watching you and all your delicious quarters. 😀

  • @ezrapetersen9913
    @ezrapetersen9913 Год назад +7

    His facial expression on the thumbnail proves this is a great video. 😂

  • @alisathomas7144
    @alisathomas7144 Год назад +2

    I really loved this content! Thank you :)

  • @gersitz
    @gersitz Год назад +11

    What is your life expectancy for machines? I usually say 10 years, so if you have a 6 year loan on equipment, its hard to justify principal curtailment as profit in my opinion. I think cash flow is a lot more important.

    • @coooolsmurffff
      @coooolsmurffff Год назад

      I would agree that cash flow is more important in this specific business due to the machines

  • @randerson4124
    @randerson4124 Год назад +4

    Brandon, the pusher money catch, I saw another channel that has pushers, cranes, etc, they laid a heavy duty cloth towel into the catch basin and had it draped over the sides, I guess it's easier to get the quarters out than trying to pick up that flexible plastic tub

    • @InvestmentJoy
      @InvestmentJoy  Год назад

      Was this crane kicker or quikplay?

    • @randerson4124
      @randerson4124 Год назад +1

      @@InvestmentJoy not a clue, I just remember when they opened the pusher to get the quarters, the catch basin was plastic like yours and was lined with a towel

    • @StrokeMahEgo
      @StrokeMahEgo Год назад +1

      @@randerson4124 the idea is to pick up the towel and use it like a sack, right?

  • @shaunbrady5703
    @shaunbrady5703 Год назад

    You should build a enclosed shed around your coin machine at the carwash to save the machine from the outside elements

  • @Rexfreelen4212
    @Rexfreelen4212 Год назад

    Awesome video Brandon

  • @josephnicholson3956
    @josephnicholson3956 Год назад

    That was REALLY impressive Eric! I'm shocked it broke!! 😂😂

  • @TL-wy1nk
    @TL-wy1nk Год назад

    I like the appreciation and principal pay down.

  • @johnhorchler667
    @johnhorchler667 Год назад

    I like it let us now ever four months I would say like when you have more people/when it is busy and when is is slow 🐌

  • @timothyking1198
    @timothyking1198 Год назад +2

    You see the profits you make the expenses you still have to pay.

  • @ajm5680
    @ajm5680 Год назад

    I appreciate your honesty and showing us your P&L statement. You work really hard. But I’m going to be honest with you because most people won’t, your laundromat sucks. If you take out the rental income from the apartment upstairs because that isn’t laundromat income it’s a separate business. You grossed $171558 in 3 years your expenses were $201005. That means you took a net loss of -$817.97 per month for the last 3 years. You can’t use appreciation to justify a negative cash flow. I care enough to tell you the honest truth. Good luck but I would sell the business if it were mine. I own multi-family real estate in Pa and I’m in business to make money. I wish you well my friend.

  • @missrhinestone7800
    @missrhinestone7800 Год назад +4

    The numbers you went through at the end made perfect sense to me. It's best to forgo making alot of money in the beginning to improve the business in order to make alot more money later, especially if you already have significant cash flow from other income streams you've built and automated.

  • @bobby69420
    @bobby69420 Год назад +1

    Those airpods are 100% fake, the ones coming out of china right now are almost 1:1 visually. The audio quality is not quite as good typically

    • @HunkMine
      @HunkMine Год назад

      They could be refurbished too. I know a lot of those get repaired and resold in bulk

    • @bobby69420
      @bobby69420 Год назад

      @HunkMine potentially, that margin is still insane though. Just gotta check one pairs serial number, if it's good, id assume the rest are

  • @avery5951
    @avery5951 Год назад +4

    So to sum up the P and L, you don’t have a lot of cash flow because your are paying back the loans faster?

    • @mattk8810
      @mattk8810 11 месяцев назад

      Yes. The deduction is worth it to him

  • @Aaron-xc4je
    @Aaron-xc4je Год назад

    Very Good But Board Don't Hit Back 😂😂you can claim a lot on tax

  • @JewishBagel
    @JewishBagel Год назад

    Random Question. What's the legality of having that coin pusher? I see lots of states say they're illegal to have.

  • @jackmcgee2515
    @jackmcgee2515 Год назад

    If you like pivot tables you love MS Power BI, think of it as Excel on steroids

  • @swampcabbage3239
    @swampcabbage3239 Год назад

    Holy crap that's like 2000 Era pusher money

  • @starwreck
    @starwreck Год назад +1

    i like the profit and loss breakdown

  • @cordeliahill4600
    @cordeliahill4600 Год назад

    How much is your water bill and your electricity bill and rent? And where did you purchase your machines?

  • @ghostflier520
    @ghostflier520 Год назад

    After bills and taxes, what is the actual profit?

  • @craigbaldwin8828
    @craigbaldwin8828 Год назад +1

    Are coin pushers illegal in Ohio? Seems like a slot machine category.

  • @jonathanhadden8199
    @jonathanhadden8199 Год назад

    Im surprised you havent gotten a coin scale

  • @spokanetomcat1
    @spokanetomcat1 Год назад

    Just wait until Biden forces you to change over to all-electric dryers, stoves, and heaters. Your electric bill may quintuple not including all the money you need for new dyers you have to buy. Hopefully, electric dyers are available to purchase and your power grid can handle the loads. This includes your rental homes too. $5 wash and $10 dry you may have to jack it up too. People on fixed incomes won't be able to afford it. Also looking in all businesses have to use solar panels to offset the lack of electricity from the grid. Another expense forced on you.

  • @Paw95
    @Paw95 Год назад

    I have an idea for a laundromat that i think would work well in Southern Ohio. I maybe just wishful thinking though.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +1

      ?

    • @Paw95
      @Paw95 Год назад

      @@InvestmentJoy put small ones in areas with small communities. Kinda like what dollar general does with their stores. I know lots of poor people that don’t have washers and dryers and really can’t afford to drive 20-30 miles to wash clothes. So kinda put small ones in those areas but I’m not sure how that would work with the cost of utilities and the mortgage loans with the payments on the equipment also. Not sure if the laundromat would be able to make a profit like that though.

    • @famousamoso7
      @famousamoso7 Год назад

      @@Paw95 Well when you think of all your potential customers as poor yeah you wont make money. I wouldn classify them as poor.

  • @NargisTheViking
    @NargisTheViking Год назад

    I really want to start up my own laundromat. I just have no clue how much to invest into it.

  • @tommyandbellasadventures
    @tommyandbellasadventures 9 месяцев назад

    What do you change people for drop off per pound

  • @rob-toolsandtech2521
    @rob-toolsandtech2521 Год назад +1

    Great job Brandon, lots of info in there. I talked to Justin last week, he gave me a lot of info. I really feel like I’ll be out of my pinch soon and can start working ON my business again instead of just working IN it. Keep the good info flowing!

  • @formofmikey
    @formofmikey Год назад +1

    It's hard to take him seriously when he wears a silly t-shirt under a dress shirt.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +6

      I bought a rolly to wear in the future because of comments like this

    • @NavyChinos
      @NavyChinos Год назад +1

      It’s hard to take you seriously when you’ve joined RUclips 16 Years ago & yet you only have 9 Subscribers, Which are probably fake robot accounts. Meanwhile, Brandon Has Over 1.53 Million Subscribers & 334 Videos which probably grosses him more money than you’ll ever make in your entire lifetime. Now, gon ahead and say something else about his “silly T-shirt”..I’ll be waiting!

    • @InvestAndGrow2020
      @InvestAndGrow2020 Год назад

      It’s hard to take you serious when you don’t even take your own life serious.

  • @entrepreneur2entrepreneur226
    @entrepreneur2entrepreneur226 Год назад +2

    I really enjoy these break down videos, can you do one on the car washes soon? Keep up the good work Brandon.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +2

      Unfortunately I have a partner and he doesn't want me to break it down

  • @jasonwitt8161
    @jasonwitt8161 Год назад +1

    Thanks for the straight forward explanations and for being transparent. Is it true that you have your own NFT collection? if so, where can I purchase one? Cheers!

  • @planningpersonlaidbackdeep1273
    @planningpersonlaidbackdeep1273 Год назад +3

    Please FIX THE MIDDLE LIGHTS in the laundromat
    That drives me crazy every time.

  • @tucobenedicto109
    @tucobenedicto109 Год назад +2

    If you have space consider a coinstar machine to pull in quarters. Deposit the rest with armored truck. Plus make money on all the gift cards they sell. They also take donations.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +1

      $25k machine to make $100-$200 extra a month

    • @tucobenedicto109
      @tucobenedicto109 Год назад

      @@InvestmentJoy ouch that guy started in buffalo hauling them around, he's now the CEO. I understand why it's so much. ☹️

  • @mauij777
    @mauij777 Год назад +1

    Brandon, really enjoyed the P&L breakdown.

  • @888ssss
    @888ssss Год назад

    so what, you made a months rent. its not worth it

    • @InvestmentJoy
      @InvestmentJoy  Год назад +1

      You saw I own this place, right?

    • @888ssss
      @888ssss Год назад

      @@InvestmentJoy the bank own it. you only owe the debt. what is left the state own. you just work the machines.

    • @InvestmentJoy
      @InvestmentJoy  Год назад +1

      @@888ssss as I said, it's a private loan, no bank mortgage :)

    • @888ssss
      @888ssss Год назад

      @@InvestmentJoy they are just milking your lifetime serving the masses as a coin monkey. the clever bankers already own all the assets you have to rent. they will take it all off you in rents and fees and taxes etc. its not a game worth playing in my opinion..

  • @Mohsdalay
    @Mohsdalay Год назад +1

    Hi big fan like these types of videos

  • @brianleitch9910
    @brianleitch9910 Год назад +1

    My mother was born in 1952, sadly she passed away exactly 4months after her birthday in 2004. Ever since, I've been on the hunt looking for a 1952 quarter and have not had any luck, only came across a 1952 penny. That quarter would be a nice add to my collection.

  • @trd4d
    @trd4d Год назад +1

    Outstanding video. I like numbers so it really interested me

  • @shwaundizayee3306
    @shwaundizayee3306 Год назад +1

    Just curious do you own the ATM in the laundry mat?

    • @BigHenFor
      @BigHenFor Год назад

      Probably not, as those machines are expensive, as there's costs for comms, maintenance, and replenishment. He probably gets a cut of the fees charged to users for hosting the ATM, split with the supplier.

  • @mr.youth.
    @mr.youth. Год назад

    Hi i am india. giveaway airports please

  • @fudogwhisperer3590
    @fudogwhisperer3590 Год назад

    Instead of doing exact numbers and figuring the cap rate, a general observation would probably be better. For example, your expenses income and profit on just the laundromat portion only BEFORE you installed the new machines, what you projected you would make after the install of the new machines and actual profit monthly after the new machines were installed. Keep the rentals the soda machines and games separate on a different tally. Then your projected monthly income expenses and profit on the expansion you're planning and the actual that came in on the laundromat only. Then just add in a second column the other revenue streams.

  • @kellybyrd9772
    @kellybyrd9772 Год назад

    Great job sir. I'm trying to get everything together so I can take your course.

  • @starwreck
    @starwreck Год назад +2

    💰💰💰

  • @fatfredy6877
    @fatfredy6877 Год назад +1

    This was one of the best videos I have seen, I love to see the collections, but the administration side is often neglected. 👍🏽

  • @leon1811
    @leon1811 Год назад

    Hi investment joy would you help someone in the uk start a cleaning business from the ground to making it reality for me.

  • @brandonmccarthy7660
    @brandonmccarthy7660 Год назад

    Boards don't hit back.

  • @jabberwocker6305
    @jabberwocker6305 Год назад

    Hmm...wow, that breakdown really gives you a lot to think about.