[FREE MINI-COURSE] How to Buy a Laundromat- 1 of 3: Finding a Good Deal
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- Опубликовано: 7 июл 2022
- Buying your first laundromat the right way is critical to accelerating your success and achieving your goals. Whether you're looking for some side income or a way out of your 9 to 5 job, there is no better way to attain the cash flow you need than owning laundromats.
This mini-course will help you get on your way to find the right deal for you (Part 1), show you how to analyze that deal (Part 2), and outline the steps you need to take to ensure you're getting all the information you need during due diligence to ensure your deal is the right one for you (Part 3).
This mini-course answers a lot of the questions I get on a weekly basis from consulting clients looking to buy their first laundromat, so I decided to create this free mini-course to help you get started on the right foot! After you've watched all 3 videos feel free to leave a comment below with any questions you have about how to buy your first laundromat. And check out the useful links below to help you take your next step on your journey toward financial freedom!
Watch the rest of the course:
Part 2- How to Analyze a Laundromat Deal- • [FREE MINI-COURSE] How...
Part 3- Laundromat Due Diligence- • [FREE MINI-COURSE] Lau...
For some further reading and research related to this lesson, check out these articles:
How much does a laundromat cost?- laundromatresource.com/how-mu...
How much money can a laundromat make?- laundromatresource.com/how-mu...
How to know if a laundromat is a good one.- laundromatresource.com/how-to...
The top 10 reasons people sell their laundromats.- laundromatresource.com/top-10...
Get Connected
Join Laundromat Resource- laundromatresource.com/join
Laundromat Resource Coaching- laundromatresource.com/coachi...
Laundromat Resource Events- laundromatresource.com/events
Laundromat Investor Resources- laundromatresource.com/resources
Laundromat Resource Forums- laundromatresource.com/forums
Laundromat Resource Blog- laundromatresource.com/blog
Diligence Capital Investments- diligencecapitalinvestments.com
RUclips playlist links
Podcast:
• Laundromat Resource Po...
Laundromat Business Mastery:
• Laundromat Business Ma...
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* Some links may be affiliate links in which the channel owner may receive compensation when you make a purchase using those links. Thank you for supporting the channel!
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Thank you so much for all the valuable information in the 3 videos. I am in the journey to buying a Small business for the first time, and Laundromat is one of my options that i am perusing. Appreciate your information.
I am loving this information. Thanks so much.
Thank you so much for the videos.
I'm new to your channel. Planning to buy my first Laundromat and become a small business owner.
Awesome! Let me know if there's anything I can do to help!
Very thorough explanation and informative thank you
Great Video ! Keep posting more please !
Thank you! Will do!
What kind of CoC return is considered a good deal?
Hi , started looking into a Landromat locally , good location , been open 2 years now, all new equipment, huebsh machines , coins and app driven, 3300 sqf store, very clean , shopping center, owner want to retire, store rev is 364k and 220k in profit , he is asking 1.2 mill , what is the best way to find out what the store should cost? i think 1.2 mill is too much , maybe 880k since it is 4-5 times the net revenue right? he has 3 employees in there and he is avg 8 turns per machine , frying is free.
That laundromat is probably in the 5+ multiple range so they're probably not too far off in their valuation. New equipment, big profits, and 8 turns is going to command a premium
Where do I find agent or broker I’m still new to this?
Hey I'm new to this I looked up what you said laundromats for sale near me came up with a franchise called wavemax is that something to look into
I’m personally not a huge fan of franchises in this industry but you can look into it. There are hefty up-front fees and ongoing fees as well for relatively little benefit in my opinion
Hi Jordan, just started listening to your channel. Love it. I am a newbie and am interested in buying a laundromat in my local area. Would like to hook up to see if your consultant services will work for me. Let me know how I can engage your company.
Awesome. There’s a lot of really good stuff in those podcasts. You can learn more about the consulting at laundromatresource.com/coaching
Looking forward to connecting with you!
@@LaundromatResource
Thanks Jordan.. FYI part 2 is private.
Tried to download the ebook on the website but it won't download. Just keeps refreshing to the same page and asks for captcha.
Sorry about that. We will check it today and get back to you when we get it fixed!
Hi jordan! Great video! Do you have contacts For Investors? Is that in your Course?
I don’t keep a list but try going to real estate investing meetups and letting people know you’re going to be investing in laundromats. Ears might perk up hearing that!
Where do one go about finding laudromat lenders?
i just tried to get the e-book and it keeps logging me out and says that I dont have access
Email me at laundromatresource@gmail.com and I will email it to you today!
How do I figure out the value of a laundromat that has the real estate included? I don't know how to compare the ROI with the lease laundromats.
You would value the laundromat and the real estate separately. For the real estate, the value will be based on the income. If you're buying a laundromat & real estate and there is no lease in place between the real estate and the laundromat, it is better for you to assume a low rent and base your valuation on that rent. If you're selling, it's better to have a higher rent amount.
@@LaundromatResource Thanks for the information. I am looking to buy. I was thinking along the same lines. I was going to take the estimated lease amount I would be paying and deduct that from the cash flow. But then I need to consider the property value. That was my thoughts. The bottom line to me is I have something in the end not just a load of money spent on a lease as far as that part goes. The next issue is the owner has been pocketing the cash. Last year it showed a loss the realtor said. Today I'm promised the P&L. Really.....its been on the market since May and they are just producing the P&L. I appreciate the other information I've learned so far as well and it sure looks like I'll need it here.
@@rogerace4707 sadly not knowing exactly how much money is coming in is pretty common. Good due diligence will help you narrow down the actual numbers but it’s easier said than done sometimes
Hi Jordan. Great content!
I have been going through your channell-thx for posting. It is helpful.
I am located in sacramento ca area. Could you connect me with a resourceful broker in the area?
Hi Jordan, I’m a newbie looking for my first laundromat which I think I might if found. It has older equipment and the building needs updating would love to pick at your brain
Glad to answer any questions I can. If you need a more in-depth discussion you can always book a consulting call, too
If this guy was smart ... He'd set up a syndicate and allow people to buy into a purchase ... Maybe with a 25k-50k
.. they do this in real estate all the time
I have a fund :) does that mean I’m smart? 😂 diligencecapitalinvestments.com
dont brokers get a cut providing services
Yes I won’t to no more
All the listing brokers that I have contacted either dont answer or never get back to me with more info. They suck. Going to have to just visit them all myself I guess.
That’s pretty common unfortunately. Persistence in contacting them and taking matters into your own hands like you mentioned are what you have to do
You need to work on your website, I am not gonna wait 1 hour, I've been trying for 1 week tryna get onto your website on my phone and not gonna spend another second trying to get that e book, I'm tryna get into this business...
There’s way too much talking, lots of word fluff. 6 minutes into the talk then resources. 6 minutes really??
Ty! I skipped to 6 minutes, lol