@@marcusplenty1153there can be services like where you have the option for employees to wash your clothes for you. There can also be a small lounge area with a couch and a couple chairs with a tv. Some have one or two arcade games for the children or may have a toy chest for the young ones as well. Most have a vending machine type deal for soap, machine safe softener and dryer sheets. You can also sell hangers for customers who forget them. A lot of the time employees are told to help carry the laundry to the customers cars. Some may even sell extra laundry baskets for when someone brings trash bags full of clothes. You could also sell newspapers, magazines, lottery tickets, cigarettes/lighters and Ive even seen diners or bars owned by the same person attached to them before- especially the ones that have drop off services. Really anything that says, "We have stuff you can do/buy while you wait" is an option for you.
@forrestgreen2348 are you agreeing or disagreeing? I mean they don't, but can food cost more in other areas? YES sometimes the same items cost more just by pouring it In a different location so buying more expensive equipment and trying to charge "premium" price where most may not be able to afford it doesn't seem to make much sense to me
@@nutrl has to be a really fine line here. Premium can net you more but it will cost you more to get that extra money. Maybe pay 10% more to go to the nice place that smells good and all that but double ? Hopefully the nicer place stays nicer because you have nicer people there too.
As someone who goes to the laundromat where I’m from theyres three laundromats two of them take quarters one of the laundromats you put your money in a machine and it gives you a laundry card this laundry mat is my favorite WHY ? Because at a place where they take quarters the quarter machines aren’t always working and you gotta drive around going to the store just to get quarters THE CARD is more modern time and easier to use
I hate the card. I have to go from machine to machine until one FINALLY accepts it. So I now go to a coin operated laundromat. It has made a big difference.
Plus, the cards sometimes have unused money on them that the owners get to keep if they're lost or left unused. It's why Vegas slot machines went to vouchers instead of the classic coins that made the jingling sounds pouring out.
What's so hard to believe? I understand for some people it seems impossible to get off your azz and actually do something with your life, but I can assure you It is very possible. You can too.
Don’t matter and that’s why you can charge a premium since those ppl can’t afford washers and dryers they NEEEEEEEED to wash their clothes. There for they have to pay no matter what. GotchaBitch!
He said to charge a premium price after you buy new machines. Better machines = higher price. Makes sense, though could certainly lose you some customers.
owning 11 locations and yes, i charge premium and my locations are mostly the most expensive one in the area, and still get the most clients coming. People are willing to pay more for a bigger space , clean, new machine, fresh, and friendly employees. And btw, not 99% of them cant afford the machines, many of them live in apartments that dont have the machines inside units. But i think teaching an idiot is a waste of my time :))
its not always that straight forward. I was making six figures but my apt didn't have laundry and the laundry units in the complex were super crappy. I had a lot of laundromat options in the area and i went to the one that let me pay with a debit card and load a laundry card up instead of hassling with quarters and maintained a cleaner nicer place with machines that didnt suck. I could more than comfortably afford that slight premium over the crappier places for the convenience it provided me. theres plenty of people that would be in a situation similar to what mine was at the time.
Truth nobody wants to spend a lot of time in laundry mats, make the best out of their experience with that 2-3 hours weekly… and you will have a lifetime loyalty members/customers!
You can only charge premium if your demographic allow it. I’m on the other side of the spectrum, lower prices and not a fancy store, guess what, the new fancy laundromat down the road, my competition, went out of business. Demographics couldn’t afford their prices. Better than giving a premium experience, understand who your customers are and what they need, a fancy billiard pool or pretty ferns are not going to cut it if that is not something your customers desperately need.
Funny you say that, as my building has a laundry room in an older brooklyn neighborhood, most residents low income, and retired or elderly. Landlord let a "friend" put in newer, premium, expensive card machines.. The tenants hardly use them and the company complains they don't make money. They didn't know or care to know their customers, what they could afford and what worked for them..
people love Laundromats. it cuts down on time. DON'T OVERCHARGE and hire a Maintenace company to service your machines and have the business open 24 / 7 and pay your employees a decent wage and pay weekly.
Say no to greedflation. Last year i was charged $47 to wash and dry 2 loads of clothing. Never again. Never again. I did my laundry by hand until i found a place with a washer. I wish more ppl would find creative ways to say no to unfair and unreasoned price inflations.
@@yellowdressbookstore6602 You can say no... that's kind of the point of having a market. Some places will be more expensive and that's fine so long as there isn't a monopoly. Having the more expensive place helps you out as well btw, having a variance of pricing separates the customer base so it's not purely about location.
@@yellowdressbookstore6602 because you are dumb enough to go to a super expensive place to do it. Googling can gives you 10+ locations in radius of 1 mile, easily to look at the reviews and pricing before you even leave your house. Its year 2023, learn to google lol
I just saw a vacated retail space that was a laundromat. All the plumbing and electrical and gas is in place. The machines are all gone. I grew up in the vending machine business. I understand what it takes to maintain locations! Who wants to partner with me to open a new one?
I plan to get a SBA 7 loan and go after one of my dreams. I’m going to put down $600,000 on my first existing card laundromat business with a great profit in return, on the road financial freedom! freedom!💰
People who say they want passive income are just lazy. Unless you're talking about dividends or bond coupon payments - There is no such thing as passive income Everything takes effort folks. Even if it is to get something to a passive state (i.e. e-commerce/dropshipping)
I Can't disagree at all. Most people are lazy. However everyone's goal should be to ultimately not work in their business so they can work on their business. So you can move on to the next opportunity to create opportunity. You think Warren buffet punches clocks at the various businesses he is invested it, NOOOO. He understands intellectual leverage.
Agreed. I do commercial real estate. It’s about as passive as you can get in real estate. The contracts are multiple years, the tenant pays for all expenses and repairs. But I still spend time looking at new properties every day. I still spend time keeping up with financing options. I still have to worry a little about if my tenant is happy, if their business is succeeding and if they are renewing their lease.
People have no idea how hard it is to own a laundromat, just building a 2000 square foot laundromat is at least one million dollars, and you need to have at least half a million in cash to start, so it's not for everyone.
I need an explanation why in a place like America where houses and even apartments are much larger than their European counterpart and let's not even talk about Asia, laundromats are that popular? A washing machine can cost as cheap as under 200$
@@deathbyvanity1955 and the plot continues.. Why would a landlord need to pay your utility bills? You live there pay them yourself. What does it have to do with the landlord if you love leaving the t.v and lights on or take super long showers
If you live in an apartment or condo complex, you'd rather go to laundromat. Most older apartments don't have the hookup and space for them, and even new apartments and condos that are less than 1000 sq ft they might not have it.
@@jimmash9353 in the u.k we have them in the kitchen, convenient for water and electricity hookup. U.k houses are way smaller than the American equivalent, So we don't have laundry rooms. we have them in the kitchen or in the electricity & boiler closet by the entrance, in newer buildings.
Nobody talks about The cement on the floor has to be double reinforced for sideways loading machines...power cables & plumbing must be upgraded costs extra whatever you set up...factor those costs in.
I've been broke af a lot of times in my life and never once used a laundromat. I either saved a little and bought a shitty second hand washer or took my clothes to friends or relatives to wash. Few times even washed by hand when I had to. Laundromats always seemed like a scam and the videos on RUclips all seem to confirm that.
Not all apartments come with onsite laundry, so they can be necessary. Also people are busy and can't keep up with laundry at home. If you get too far behind you can go there with all clothes in bulk and take care of it in one day. If you think a laundromat is a scam well so is every other business especially fast food.
I had to use them when I wasn't broke AF. Simply because the current living conditions I had did not have a washer and dryer available to me. But anyother time, yeah I have a washer and dryer.
You forgot the most important one. Charge in cash as much as you can and let your accountant play around a little. When you buy a car, show it as a business expense in taxes 😉 I know quite a few people who do that.
I do not use a laundry regulary. But if I did, Cost would be priority 1 and then maybe conveinence. If your charging premium then there better be something free included. 😂
I'd pay 25% more for a place with clean units that work exactly how they should, and a nice clean atmosphere that isn't sketchy, with nice employees any day of the week.
ALSO I do notice at the newer laundry Matt compared to the other two near where I live the machines look nice and brand new and they do a BETTER JOB at cleaning my clothes and EVERYTIME I go to the laundry Matt that charges more compared to the other two laundry Mats near me Theres always a different lady on each shift that’s always cleaning the machines, sweeping and mopping maintaining it making it more clean 🧼 and inviting and LET ME TELL YALL this laundry mat is always packed . Now the other two places I purposely avoid going there because it’s dirty not well maintained I always gotta make sure to bring my own quarters which is inconvenient for me as a paying costumer and some machines work some don’t so what he says is true you gotta invest some of your time trying to maintain it making sure the machines are properly working and fixing them but also hiring good reliable workers who are going to work hard At keeping it clean and helping costumer’s from time to time
Except those new machines which are high efficiency (=low water) don't get your clothes very clean! So the charge has doubled and the cleanliness of clothing reduced by half!
You can't charge any amount it depends on your fixed costs and the more customers you have the smaller the fixed cost are to your turnover. Just deciding to charge a premium is stupid and his intentions seems to me too be trying to get other people to increase there prices so his one doesn't look to high relative to the market rate.
For me, i interpreted it as Don't just charge to cover minimum costs. Charge for profit. AKA charge a premium. Basic economics, yes, it is true that more customers will spread fixed costs out. However, laundromats do incur significant operating costs. Also, there is a limit to how many regular customers a laundromat can obtain before people get turned off because it it is too busy. Just some food for thought.
You cant charhe minimally. Things will break and you have to have the money to cover that when it breaks. You also have to have money to walk away with because it’s just that. A business.
I learned the hard way that there is no good people and you can’t trust anyone but God. You can still have your own business and do what I aforementioned.
In uni I had to change dorms. The first dorm, the laundry was just outside my building, you enter with your student card, put your money (a one for the laundry machine and 2 for the dryer, because it needs 2 spins to make everything dry) and detergent, which you bought yourself, wait 30 min, put it in the dryer wait another 50+ and then you take your laundry back home. The second dorm didn't have a university operated laundry, because they expected us to walk 5 to 10 min to the first one, every week with all our sheets and clothes and stand near the machines, because nothing worked Saturday and Sunday... But there was a business nearby... No need to buy detergent, softener, sheets so that your colours won't bleed, you go there and choose the ones that smell good to you, leave your bag, go to work or school, you just need to tell them a time for your laundry to be done and when you return your laundry is already folded, the cost was about a 5er, 6 if you want anti-static and anti-bleed sheets. If you wanted things drycleaned, they had a partner shop that they themselves would send and pick your stuff from. And guess what, we all used that business, yes it was almost double the university one, but with the school one you have to waste at least half of your day waiting and then folding.
Ah yes, charge a premium, because that makes the customer so much happier when the temps get turned down on the dryers and you have to pay for 30 minute sessions instead of 5 minute ones and spend an hour instead of 35 minutes drying the clothes. Yup, I guess whomever bought what used to be my favorite laundromat must have watched this.
Wow I don't know h9w much h laundromat paying you to promote their business but ...they should give you millions of dollars ...that's the most effective advertising to sell, and expand, their dead biz
Premium? If so I hope you pay above min wage. If not USA working class cannot normalize getting low balled in a financial hole that makes a few rich, xause if thw brag about the money they have or not, they don't pay well and will never understand what is wealthy.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
Check out these 5 other common mistakes to know before buying a business: contrarian-thinking.ck.page/5-biz-mistakes
Oky
Gracias.
Your outfit ❤
When I go to a laundromat...the experience changes everything..it's true.
Loool, exactly. What does a premiere/luxury washing machine service look liek
@@marcusplenty1153there can be services like where you have the option for employees to wash your clothes for you. There can also be a small lounge area with a couch and a couple chairs with a tv. Some have one or two arcade games for the children or may have a toy chest for the young ones as well. Most have a vending machine type deal for soap, machine safe softener and dryer sheets. You can also sell hangers for customers who forget them. A lot of the time employees are told to help carry the laundry to the customers cars. Some may even sell extra laundry baskets for when someone brings trash bags full of clothes. You could also sell newspapers, magazines, lottery tickets, cigarettes/lighters and Ive even seen diners or bars owned by the same person attached to them before- especially the ones that have drop off services. Really anything that says, "We have stuff you can do/buy while you wait" is an option for you.
@@marcusplenty1153clean
location, location, location matters more than most anything else
Exactly that's the #1 thing you can't charge "premium price" in a lower income area😂
@@nutrl people that have more money own their machines at home right? Premium price? This sounds nuts
@forrestgreen2348 are you agreeing or disagreeing? I mean they don't, but can food cost more in other areas? YES sometimes the same items cost more just by pouring it In a different location so buying more expensive equipment and trying to charge "premium" price where most may not be able to afford it doesn't seem to make much sense to me
@@nutrl has to be a really fine line here. Premium can net you more but it will cost you more to get that extra money. Maybe pay 10% more to go to the nice place that smells good and all that but double ? Hopefully the nicer place stays nicer because you have nicer people there too.
Nothing will "do itself", "get done on its own"... For sure.
Having good employees is a must for any business
As someone who goes to the laundromat where I’m from theyres three laundromats two of them take quarters one of the laundromats you put your money in a machine and it gives you a laundry card this laundry mat is my favorite WHY ? Because at a place where they take quarters the quarter machines aren’t always working and you gotta drive around going to the store just to get quarters THE CARD is more modern time and easier to use
I hate the card. I have to go
from machine to machine until
one FINALLY accepts it.
So I now go to a coin operated
laundromat. It has made a big
difference.
Plus, the cards sometimes have unused money on them that the owners get to keep if they're lost or left unused.
It's why Vegas slot machines went to vouchers instead of the classic coins that made the jingling sounds pouring out.
I already own an appliance repair company. A laundromat would be a perfect side business cuz I could fix the washers and dryers myself.
I call B.S.
What's so hard to believe? I understand for some people it seems impossible to get off your azz and actually do something with your life, but I can assure you It is very possible. You can too.
True
@@misterindependent7994lol I know, if you can do appliance repair you can fix the machines. Some people are just too lazy to learn.
@@blackhoodiefitness5862 HVAC alone is too seasonal. Gotta have steady work year round. Appliances keep us busy, and summer ... We're buried alive.
Charging premium in a place where 99% of the clients can't afford a washing machine, it's interesting ,I'd like to see more details of how it works
❤
Don’t matter and that’s why you can charge a premium since those ppl can’t afford washers and dryers they NEEEEEEEED to wash their clothes. There for they have to pay no matter what. GotchaBitch!
He said to charge a premium price after you buy new machines. Better machines = higher price. Makes sense, though could certainly lose you some customers.
owning 11 locations and yes, i charge premium and my locations are mostly the most expensive one in the area, and still get the most clients coming.
People are willing to pay more for a bigger space , clean, new machine, fresh, and friendly employees.
And btw, not 99% of them cant afford the machines, many of them live in apartments that dont have the machines inside units.
But i think teaching an idiot is a waste of my time :))
its not always that straight forward. I was making six figures but my apt didn't have laundry and the laundry units in the complex were super crappy.
I had a lot of laundromat options in the area and i went to the one that let me pay with a debit card and load a laundry card up instead of hassling with quarters and maintained a cleaner nicer place with machines that didnt suck. I could more than comfortably afford that slight premium over the crappier places for the convenience it provided me.
theres plenty of people that would be in a situation similar to what mine was at the time.
Truth nobody wants to spend a lot of time in laundry mats, make the best out of their experience with that 2-3 hours weekly… and you will have a lifetime loyalty members/customers!
lol imagine if you hire some models as employees man it’ll be even more busier!
@@MiniNinja258 it would be expensive too to hire models😄😄😄
@@Haidar536 yes but there are beginner ones and if you can’t afford just hire above average attractive people
@@MiniNinja258 😂😂😂
@@Haidar536 :)
You can only charge premium if your demographic allow it.
I’m on the other side of the spectrum, lower prices and not a fancy store, guess what, the new fancy laundromat down the road, my competition, went out of business. Demographics couldn’t afford their prices.
Better than giving a premium experience, understand who your customers are and what they need, a fancy billiard pool or pretty ferns are not going to cut it if that is not something your customers desperately need.
Funny you say that, as my building has a laundry room in an older brooklyn neighborhood, most residents low income, and retired or elderly. Landlord let a "friend" put in newer, premium, expensive card machines.. The tenants hardly use them and the company complains they don't make money. They didn't know or care to know their customers, what they could afford and what worked for them..
May seem silly but I have driven 9 mins outside of town just to save almost $3/ load.
people love Laundromats. it cuts down on time. DON'T OVERCHARGE and hire a Maintenace company to service your machines and have the business open 24 / 7 and pay your employees a decent wage and pay weekly.
If laundrymat owners listen to you then they would all go bankrupt.
That's easy to say without knowing what the revenue is.
Don't overcharge, but do things that are more costly to your business. Interesting tactic......
In most little rural towns these days you’ll also need security 24/7
"I want to charge yall premium" for regular service was his statement
the machines are better than most laundromats, that's where the premium is coming from
@@SamGarcia oh his machines are slightly newer industrial version and not cheap apartment style quarter laundering machines
Say no to greedflation. Last year i was charged $47 to wash and dry 2 loads of clothing.
Never again. Never again.
I did my laundry by hand until i found a place with a washer.
I wish more ppl would find creative ways to say no to unfair and unreasoned price inflations.
@@yellowdressbookstore6602 You can say no... that's kind of the point of having a market. Some places will be more expensive and that's fine so long as there isn't a monopoly.
Having the more expensive place helps you out as well btw, having a variance of pricing separates the customer base so it's not purely about location.
@@yellowdressbookstore6602 because you are dumb enough to go to a super expensive place to do it. Googling can gives you 10+ locations in radius of 1 mile, easily to look at the reviews and pricing before you even leave your house.
Its year 2023, learn to google lol
You only see premium people in laundromats.
😂
Yup 😂
Thank you so much for providing this education. And please keep it coming.
I just saw a vacated retail space that was a laundromat. All the plumbing and electrical and gas is in place. The machines are all gone. I grew up in the vending machine business. I understand what it takes to maintain locations! Who wants to partner with me to open a new one?
I think his 3th tip is good to know for a lot off business. Thank you for these 😊
There I was, browsing laundromat catalogues the whole day, ready to buy one or two. Then I discovered this video - just at the right moment.
😂
Laundromats lose so much money that people really are pretty much giving them away for free
I plan to get a SBA 7 loan and go after one of my dreams. I’m going to put down $600,000 on my first existing card laundromat business with a great profit in return,
on the road financial freedom! freedom!💰
4. Know how to fix it or maintain it
Thank you for the valuable info!
Being physically attractive and a master at business is such a plus in life. You're so goddamn blessed.
Pretty necklace❣️
You should absolutely 100000% never buy a laundromat. Ask Danny D'angelo. They are always free
What a great guy. Be the most expensive where people struggle to get by. His mom would be so proud.
First red flag was buy a laundromat where’s Danny 😭
People who say they want passive income are just lazy.
Unless you're talking about dividends or bond coupon payments - There is no such thing as passive income
Everything takes effort folks.
Even if it is to get something to a passive state (i.e. e-commerce/dropshipping)
Dropshipping isn't paasive at all 😂
Yes, you realize it's not a passive business the first time a homeless drug addict shits in one to your brand new dryers !
I Can't disagree at all. Most people are lazy. However everyone's goal should be to ultimately not work in their business so they can work on their business. So you can move on to the next opportunity to create opportunity. You think Warren buffet punches clocks at the various businesses he is invested it, NOOOO. He understands intellectual leverage.
Agreed. I do commercial real estate. It’s about as passive as you can get in real estate. The contracts are multiple years, the tenant pays for all expenses and repairs. But I still spend time looking at new properties every day. I still spend time keeping up with financing options. I still have to worry a little about if my tenant is happy, if their business is succeeding and if they are renewing their lease.
New favorite financial podcast, your freaking awesome
I feel like danny D’Angelo would be better to talk about laundromats
People have no idea how hard it is to own a laundromat, just building a 2000 square foot laundromat is at least one million dollars, and you need to have at least half a million in cash to start, so it's not for everyone.
I need an explanation why in a place like America where houses and even apartments are much larger than their European counterpart and let's not even talk about Asia, laundromats are that popular?
A washing machine can cost as cheap as under 200$
landlords would have to pay more in water utilities so a lot of them prohibit washing machines in apartments
@@deathbyvanity1955 and the plot continues..
Why would a landlord need to pay your utility bills?
You live there pay them yourself.
What does it have to do with the landlord if you love leaving the t.v and lights on or take super long showers
If you live in an apartment or condo complex, you'd rather go to laundromat. Most older apartments don't have the hookup and space for them, and even new apartments and condos that are less than 1000 sq ft they might not have it.
@@jimmash9353 in the u.k we have them in the kitchen, convenient for water and electricity hookup. U.k houses are way smaller than the American equivalent,
So we don't have laundry rooms. we have them in the kitchen or in the electricity & boiler closet by the entrance, in newer buildings.
@@eden5260 you must be a slumlord
Nobody talks about The cement on the floor has to be double reinforced for sideways loading machines...power cables & plumbing must be upgraded costs extra whatever you set up...factor those costs in.
Solid tips! 🙌🏻 Thanks for this! 🙏🏻
Always count on you Codie
You have to put in the work In any business there is nothing free or passive
Laundromats are a declining category. Known that it is not a slow decline.
Know your customer profile. And don't look at it with greedy eyes !
I always wanted to own a laundromat. Used so many through my years
True. I did this for 30 years.
My grandparents owned a Laundromat an it was a great business
Is it for sale?
My goal is to own laundromats.
Meanwhile meemaw and Georgie: the secret is to have a secret second business outback
Backroom with slot machines !
Gorgeous!!!! Thank you
Thanks for this info
I want to hear a whole interview with this guy!
I've been broke af a lot of times in my life and never once used a laundromat. I either saved a little and bought a shitty second hand washer or took my clothes to friends or relatives to wash. Few times even washed by hand when I had to. Laundromats always seemed like a scam and the videos on RUclips all seem to confirm that.
Not all apartments come with onsite laundry, so they can be necessary. Also people are busy and can't keep up with laundry at home. If you get too far behind you can go there with all clothes in bulk and take care of it in one day. If you think a laundromat is a scam well so is every other business especially fast food.
I had to use them when I wasn't broke AF. Simply because the current living conditions I had did not have a washer and dryer available to me. But anyother time, yeah I have a washer and dryer.
That’s not laundromat 101, that’s business 101
people who would pay the premium pricing usually would opt into their own washing machine
You forgot the most important one. Charge in cash as much as you can and let your accountant play around a little. When you buy a car, show it as a business expense in taxes 😉 I know quite a few people who do that.
Always good information thanks.
great info, thanks
I do not use a laundry regulary. But if I did, Cost would be priority 1 and then maybe conveinence. If your charging premium then there better be something free included. 😂
I'd pay 25% more for a place with clean units that work exactly how they should, and a nice clean atmosphere that isn't sketchy, with nice employees any day of the week.
Such good tips!! ❤
Depending on where you have a laundromat, this is a great business for people like calling the cops on troublemakers.
College towns are perfect for this business. Get a few big screen TVs playing sports non-stop and serve free PBR and you've got a banging business.
Love this!
ALSO I do notice at the newer laundry Matt compared to the other two near where I live the machines look nice and brand new and they do a BETTER JOB at cleaning my clothes and EVERYTIME I go to the laundry Matt that charges more compared to the other two laundry Mats near me Theres always a different lady on each shift that’s always cleaning the machines, sweeping and mopping maintaining it making it more clean 🧼 and inviting and LET ME TELL YALL this laundry mat is always packed . Now the other two places I purposely avoid going there because it’s dirty not well maintained I always gotta make sure to bring my own quarters which is inconvenient for me as a paying costumer and some machines work some don’t so what he says is true you gotta invest some of your time trying to maintain it making sure the machines are properly working and fixing them but also hiring good reliable workers who are going to work hard
At keeping it clean and helping costumer’s from time to time
Try a combination of selling just beer plus laundromat. Make a clear wall and door so you and the customer can see what's going on.
Except those new machines which are high efficiency (=low water) don't get your clothes very clean! So the charge has doubled and the cleanliness of clothing reduced by half!
Why do you have so many laundromats in USA?
Do you have washing machine in your home like in the UK?
Thank you C solid
Reasonable prices, or premium prices for service wash and fold included...
Just thought in marketing...
I don't pay premium for my laundry. Bare minimum is okay 😅
As a man from Poland I do not understand the idea of laundromat. Everyone has a washing mashine here and it is much more convienient.
GOOD INTERVIEW
Don’t even remember the last time I have been to laundry
Location is key with this Biz and big city seems like the olace to be...
Laundromats need to partner with ALOHA LAUNDRY
I live in the UK... Most people just buy a washing machine 😂
You can't charge any amount it depends on your fixed costs and the more customers you have the smaller the fixed cost are to your turnover. Just deciding to charge a premium is stupid and his intentions seems to me too be trying to get other people to increase there prices so his one doesn't look to high relative to the market rate.
For me, i interpreted it as Don't just charge to cover minimum costs. Charge for profit. AKA charge a premium.
Basic economics, yes, it is true that more customers will spread fixed costs out. However, laundromats do incur significant operating costs.
Also, there is a limit to how many regular customers a laundromat can obtain before people get turned off because it it is too busy.
Just some food for thought.
@@opplants8302 so then I’ll go big or go home. That way it can handle a bigger crowd 😊
You cant charhe minimally. Things will break and you have to have the money to cover that when it breaks. You also have to have money to walk away with because it’s just that. A business.
,, you clearly haven't been to a laundromat recently it is not cheap and yes lots of people go
Sounds hard, thanks...
Interviewer fine as hell
Smh....focused on the wrong thing. She wouldn't go out with ur broke butt.😐
What's the investment, premium price to charge, and what are the operational costs?
Looking to buy a laundromat. How can I find a buyers site or does anyone have any useful advice. Thanks
She's soooo attractive
Charge premium price….in a laundromat…is your laundromat in Monaco?
Codie. Could you please send me the direction of this guy? Or someone similar to explain a couple things to me? TY
I have been thinking about this
I learned the hard way that there is no good people and you can’t trust anyone but God. You can still have your own business and do what I aforementioned.
Hmm i wonder how much income these things make that goes unreported
Number 1: Have Al Chapo as your top business associate.
In uni I had to change dorms. The first dorm, the laundry was just outside my building, you enter with your student card, put your money (a one for the laundry machine and 2 for the dryer, because it needs 2 spins to make everything dry) and detergent, which you bought yourself, wait 30 min, put it in the dryer wait another 50+ and then you take your laundry back home. The second dorm didn't have a university operated laundry, because they expected us to walk 5 to 10 min to the first one, every week with all our sheets and clothes and stand near the machines, because nothing worked Saturday and Sunday...
But there was a business nearby... No need to buy detergent, softener, sheets so that your colours won't bleed, you go there and choose the ones that smell good to you, leave your bag, go to work or school, you just need to tell them a time for your laundry to be done and when you return your laundry is already folded, the cost was about a 5er, 6 if you want anti-static and anti-bleed sheets. If you wanted things drycleaned, they had a partner shop that they themselves would send and pick your stuff from. And guess what, we all used that business, yes it was almost double the university one, but with the school one you have to waste at least half of your day waiting and then folding.
How can I get started?
Very nice 👍
Another words rip people off. Its like the italian restaurants. 😂 we get it. It is a hustle.
Legend has it this girl has 278 companys atm.
Yet put 12 hours a day on RUclips…..
Also, learn washer and dryer repair.
👇
Why is she so beautiful
You need to build trust with your customers first. If your just starting out, you'll be lucky to break even in the first 6 months
How much I need to own it???
200k starter
Laudremats aren't staffed.
Ah yes, charge a premium, because that makes the customer so much happier when the temps get turned down on the dryers and you have to pay for 30 minute sessions instead of 5 minute ones and spend an hour instead of 35 minutes drying the clothes. Yup, I guess whomever bought what used to be my favorite laundromat must have watched this.
Lease the space of the laundry mat
It’s not a passive business!!!!
I hope those quality employees are getting paid a premium wage ❤️
Wow I don't know h9w much h laundromat paying you to promote their business but ...they should give you millions of dollars ...that's the most effective advertising to sell, and expand, their dead biz
Premium? If so I hope you pay above min wage. If not USA working class cannot normalize getting low balled in a financial hole that makes a few rich, xause if thw brag about the money they have or not, they don't pay well and will never understand what is wealthy.
How to franchise
yo, don’t you mean…”charge a premium price. because if you undercharge, you’re gonna fail.” not “charge a premium price: you’re gonna fail.” ?
This is the dude who complains about the price of his meal in a restaurant. Then, he turns around and socks it to his customer.
Relise, your audience is captive
If you don't fix machines yourself you won't make any money
I hope "premium laundromat" is code for no drug addicts getting high in the bathroom lol