How to Resign From Your Job 1 Hour After Buying a Laundromat with Amanda Sidell

Welcome to Episode 161 of the Laundromat Resource Podcast! I'm your host, Jordan Berry, and today we have an incredibly insightful and dynamic conversation lined up for you with Amanda Sidell, proud owner of The Laundry Basket in Bangor, Maine. After a successful career as a clinical social worker and a series of real estate ventures, Amanda took a bold step into the world of laundromat ownership. In this episode, we delve into her fascinating journey of resigning from her hospital job just one hour after buying a laundromat and navigating the challenges of balancing business, family, and personal goals.
Amanda shares her systematic approach to managing her laundromat, from writing step-by-step instructions to embracing the importance of understanding the "why" behind every task. We'll also cover topics like expanding pickup and delivery services, the power of delegation, and how she leverages her background in social work to create a human-centered business environment.
Additionally, we dive into the importance of mentors, mastermind groups, and taking risks to drive personal and entrepreneurial growth. Whether you're a seasoned laundromat owner or just thinking about getting into the business, this episode is packed with useful insights and inspiring stories. So sit back, relax, and get ready to be inspired by Amanda Sidell's remarkable path to laundromat success!
In this episode, Jordan and Amanda discuss:
00:00 Podcast guest offers helpful laundromat tips and resources.
07:27 Impulsive decision leads to changing lives forever.
14:01 Tax-deferred exchange for reinvesting capital gains.
17:00 Bought, fixed, rented, sold, chaotic real estate experience.
21:35 Reality of life and business can be tough.
27:57 Endure struggles for long-term success and growth.
36:38 Create business model, travel full time.
37:25 Building business with systems, revenue, rebranding.
44:22 Treating people well in business can be challenging.
49:30 Having a strong why is crucial.
57:58 Evaluate time use, outsource tasks and advertise.
01:02:13 Hopes for growth and travel after graduation.
01:05:45 Recognize progress and avoid frustration in growth.
01:14:10 Money is essential for freedom in life.
01:16:40 Seeking financial and time freedom is admirable.
01:24:07 Offering discounted laundry services to local businesses.
01:29:45 Tanning beds bring revenue, but pose distraction.
01:33:49 Focus on understanding your business goals.
01:38:58 Embracing challenges and growth through adversity.
01:43:53 Join mastermind group or create your own. Utilize Facebook groups for technical support.
01:48:56 Humility and gratitude for guests on show.
Show Notes
laundromatresource.com/show161
How to Analyze, Value, and Buy a Laundromat- Everything you need to know and unlimited access to all of the tools and resources you need to buy your laundromat the right way the first time!
www.laundromatresource.com/la...
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