Hey Codie, love your content! We actually met a couple of years ago when I was on the BOD for the ALPFA Orange County Chapter and you were a guest speaker! Any tips for how to find boring businesses to buy from baby boomers (BBBB's) in the Austin, Texas area?
Love your content as well How much would you say you needed to start a business like this ?? I’m out in calgary Alberta and I think this would be awesome and would work wonders here.
Is the goal here to acquire or build sizeable wash/dry/fold facilities every X miles or so (i.e., shrink the service time from days to hours or overnight?) or offer franchise opportunities to other wash/dry/fold facilities and run all the logistics (if they wanted to scale quickly without having to spend a lot of capital on physical stores and have ROFRs on all those franchise locations.) Mark mentioned most of their customers use the service sporadically - implying convenience over necessity. Are most of their clients, in fact, people with washers & dryers that choose to use the service for convenience? If that is the case, the value prop is really folding clothes as it's the most time-intensive...throwing clothes into the washer and dryer isn't worth much. Have they thought about providing just a folding service as a standalone option? There is certainly overlap with home cleaning services as I'd imagine the folding service would require an individual or two to go into the customer's home. A few other questions: Have they experimented with subscription services with a monthly weight or bag limit? Is anything proprietary about the business? Did they develop any software to handle the operations? Or is this a land and expand / first-mover to scale strategy? Did the owners acquire the business and add services or improve the service level? What are the exit plans (if any)? Is this a long-term hold for the majority owners, or are they looking at flipping when they get to some revenue figure? Are they raising capital? I'm sure folks in the contrarian thinking crew would be interested in investing. Out of left field question (and not sure if they can collect this level of data on their customers): Can they catalog customer wardrobes? Not sure if there is AI/ML technology that could categorize everything going through their facilities and tag them to a household (excl., sex toys). The manual way would probably be too time-consuming and disrupt the service level.
I own 2 laundromats in low income areas. I work about 25 hours a week and gross about 240K a year. whilst working with an advisor like Julianne Iwersen Niemann. I used to work in Sears repairs,, so I saved money by fixing my own machines. Believe it or not, the soap detergent vending machines bring in a good amount as well. Trust me starting and maintaining a profitable business starts with properly managing your finance.
Laundromats are easy to operate...I know this lady you mentioned. I bought a laundromat from a friend many years ago who retired overseas. Repairs are costly. Try to at least learn the basics. I have bill acceptor machines to exchange for tokens, much better than counting and hauling quarters . My locations are near low income housing and apartments, which are very good for business.
I owned 3 laundromats in SF. The biggest 3 issues? The Lease, the lease and the lease. Got screwed by two owners that didn't renew the lease. If you own the building, different story. Probably, it will not be bad to work with your advisor
thanks for talking about your situation. Definitely helps a young and desperate poor guy like me to stay encouraged in striving to achieve my first ever owned business ... 240 gr. < - electric, water, mechanical, supplies, janitorial, city taxes, county taxes, insurance, business license heat, cooling costs & misc.. = ? . these taxes really want to make me work with a CFA. so that i can know how to joggle my way through. how do i reach her
Bravo Kent! I've thought about investing in a laundromat. When you speak of fixing your own machines, do you mean that YOU actually fix them, OR instead of calling the company that sold them to you, you get your own repairman to fix them for cheaper? Also, do you have coin operated or buy a token card to use on all the machines? I used a laundromat for the first time in decades a few days ago and I noticed a 100% coin operated store and accross the street, a 100% card operated. I chose the card operated. Is there a difference do you think in which business does better? Which leads me to my next question, how tough is competition in your area?
LOVE the longer former and deeper dives into your boring businesses! Specifically love hearing more cost breakdowns, numbers, "things that go wrong". Super valuable and full of insight!
@@CodieSanchezCT Perhaps a bit more on recognizing an opportunity as well as understanding future market potential. Also, mirroring what a few others mentioned on production, leaving the text on screen and making it stand out a bit more and, I'd say be mindful when flashing info or graphics on screen in general. It tends to take viewer eyes and attention away from the valuable content you are producing here! Great job and thanks for sharing your value and insight with us!
@@CodieSanchezCT How to market it, customer acquisitions, how to do the numbers to make sure you're in the right investment, what to insure...anything that helps ensure success...
Mark is a rising star in the industry and making waves where experts previously thought there were limits. You could definitely see all the soul and passion as infrastructure in a growing business. Great interview, host, and production into the video!
This is very smart he added a logistics business to the laundromat and delivered anywhere between 40 and 50 mile radius as to other competitors only deliver 6 mile radius
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Jobs will pay your bills business will make you rich but investment makes and keep you wealthy, the future is inevitable, I hope you become successful!
This is the cleanest laundry I have ever seen. Please people, help keep laundry's clean. Biggest negative about travel camping is the laundry's are always so dirty everywhere I go.
Can't say enough about your content the quality and details of your content (logos, cinematography and music choice) is why I keep watching your stuff. Congrats to your team.
I hired Mario. An absolute gem of a human being. You have to run your operation in a way that pushes down some of the responsibility and ALL the glory. It makes everyone part of the story and process.
"Everyone has one job and one job only" This is an amazing model, in my old job as a bartender, we had a million little things to do and we would be jumping up and downstairs constantly because of lack of staff and even when we had staff we would all be doing a bit of everything, this is annoying for everyone. I think if more businesses went by this model staff would be happier knowing what they are doing and can get into a routine. Very interesting video all businesses should watch
OMG your last phrase was right on the money. When you mentioned about Walmart. I don't shop in one, don't support one and I only want to support my local guys and gals. Thank you fascinating and wonderful business on most simplistic level
The 3 mil really went to the folks who sell the trucks and laundry machines. In your next video maybe you can show the books and reconcile those with the bank statements and tax returns.
This is really fascinating about how they operate their facility and each person has their role like an assembly line. Curious to know the breakout of the $3mil in revenues for payroll, operational costs, and net profit. #6 vid today. Thanks for the fabulous content.
Very smart. Not many people change the oil on their car or even wash their car. We outsource so much. Outsource the laundry. I love it. Just ordered The Toyota Way book also. Thank you for expanding my vision.
$3million in revenue sounds like a nice number over the $900k without delivery. But the man power, vehicles, insurance, etc. are all incredibly expensive. She says $3mil but she showed the sheets. The net profit is $81k.
Codie, I've been following your Instagram page for a while, but that was my first time watching one of your UA-cam videos and it was totally awesome! Your content here is a lot better than 90% of the current UA-camrs I watch. Tbh the only critique I have is allowing those text/info blurbs to sit on the screen a bit longer. Those are where some of the really juicy info is and would be nice to have just an extra second or so to absorb it all without having to pause the video. Otherwise, great work so far and I'm looking forward to more of your glorious UA-cam content! :)
@@CodieSanchezCT And the text info should be on a flat background - some is very hard to read when layered over a moving full bleed video image - but small things.. ;) Great content! Lovin the new longer versions, but still lurve your short vids!
Love this content! Pro Tip: Use a lav mic. If you ever cover a business in the Vegas area, hit me up. I'll help you bring your production value to the next level.
"...one less Wal Mart on the street..." Love this 😍Hubby and I are debt free aside from our mortgage and looking into starting a business like this. Thank you for the great content and info!
Loving the longer form videos Codie. Watching and listening to them intently...but the audio on this video is a little messy. Could you please look into the audio issue for future videos? Really appreciate it.
What's keeping me from starting is that "I always thought that Laundromat business will never work in my City/Suburb area" because every one/house/appartement has a washer & dryer machine so why would anybody go to laundromat..... I wonder why I never saw one around.
My favorite song the cello sounds like symphoniacs in background I love the happy fun goofy attitude the money education the music my goodness favorite UA-cam channel !!!!
Location is critical for a laundromat business. I imagine a lot of research and analytics are involved when opening or investing in a laundromat. Being near a college campus is probably an advantageous location.
College students are generally broke.. there's no way this type of business which likely has a hefty markup on doing your own laundry, thrives around a campus
haha that was my one thought.... why isn't the detergent stored in big hanging shelves that hang down from the ceiling so the it's at eye level when you're loading laundry? Like the systems they have in oil change places so that each stall just grabs a nozzle for oil or whatever
The real trick to these places making money is the passive income from the night time laundry service. When normally the place would be closed and thus making no money. He is able to exploit that down time and maximize profits. Good for him
Awesome content, thank you Codie!!! (note for the future: audio could probably use a little tuning up and better balancing with background track) (note after the note: a few of the info graphics could have been up .5sec longer or more to be more legible)
As a small business owner I have to say this is NOT for 95% of future business owners. This requires huge capital expenditure, software, labor, learning curve...it's a huge risk for anyone who is not backed by BIG money investor. And it requires operating expertise. Only the BIG company can do this level of service, from design to service this is more like a franchise not a small business. It maybe impressive to show a $3M topline, I can guess after rent, lease of the machines, utilities, labor, accounting, payroll taxes, and much more...they maybe netting 5 to 10% pure profits, but one big advantage they got is they built a business model that can scale, with caveat of as long as even more millions are constantly poured in from big money investors. In other words, nice production but not practical for most small business wannbe owners. It's extremely hard if not impossible to find or start a true operator owner small business that generates real profits and won't bankrupt you. My advice is to all small business owner wannbe/aspired to be is don't waste time day dream a business like this, rather start small, anything literally, get your feet wet on running a business, meaning selling, collecting money, pay bills, once you got that down ideas will come to you. NO one here on UA-cam will share anything real with you, you will learn almost nothing from these videos. Other than oh wow they already made it. Do the actual work of selling buying paying sweating stressing grinding, do it for years, you will very quickly figure what works what doesn't and the real secrets of running a place and profit from it.
This is a really interesting video for anyone who is looking to create wealth in their business. I know from personal experience cause im in the business. good video
I think full service can be applied to other boring business, like for example, you got renting an apartment, you add full service an is a airbnb, I think is a good concept
14:48 The employee is not going to be able to support his family or pay for his kids to go to college. The owner is a millionaire but this employees probably have to get food stamps.
I love this video and I was waiting for your UA-cam videos for so long! 😍 One point for the next video: it is a little bit hard to understand you two, when you are sitting on the washing machines. Maybe you should think about small microphones to put on your clothes, so that the sounds is better and clearer. ☺️
Im a logistics guy and you wiuld think that yhe logistics would impress me but the most important thing was comparing doing laundry through the business was like ordering a pizza.
This is great content! Thank you! One ask though, the transitions between some of the slides were really fast. If you could make them a little slower - there were a lot of good nuggets to note but had to either pause or rewind several times to re-read everything.
$3 million doesn't mean much. Uber pulls $18.3 billion in 2021, and yet their annual profit is negative $0.4 billion...I hope you see my point. If you're generating $3m annually, and your profit if $10,000 then this is a crap investment.
If it was a 'crap investment' they would move on to something else. You can't measure this against a completely different business. So many people are making wild invalid guesses in these comments.
Thank you for this. I've been wanting to own a laundromat since I was a young teenager because it just always made sense to me. The things yall discussed just made me realize my thought process was on the right track. Sheesh you don't even know how God just used you to speak to me. Peace and Blessings! ❤
Excellent content Codie. We bought a value add mom and pop laundromat 2 years ago. Very under the radar business. Great cashflow, especially for the time invested. We have been offering on several of late, It just takes some time and effort to find the right deal. We would love to model something like this in our town. We are considering using the Brio Laundry model out of Washington state.
Very cool presentation - but . . . They don't make $3MM, they have revenue of $3MM - with all that labor, supply costs, fuel, insurance and utilities, what is their profit margin?
Usually when talking of a business "make" is referring to revenue, whereas "cashflow/clear/EBITDA" is speaking to profits. Laundromat makes 3MM, but I'd love to know the Net margin as well, even better EBITDA.
Often times they don't want to share their profit number as they are going for scale and investment which I think is totally fair so they made $3MM in revenue.
With that many employees, running 22 hrs a day, delivery vehicles, building and utility costs, is there any money left for the owner at the end of the day?
I have the same question, I don’t think it will bring a lots of cash. The job itself is very time consuming and takes a lots of people involved, plus electricity and water is not cheap.
I am from other country...can someone answer my question...Why can't US people afford to buy their own Washer rather than spending so much on Laundry bills???? Why???
I own a Wash & Fold Laundromat Service, I was thinking to Sell it, because Pandemic kill my business, all the Tourist, The International Students, and the AIR B&B Business that almost die too with covi, I don't even know how I found the Video, but I see what he did and I just need to optimize the Administration and open 24 HORES A DAY, AND WHY NOT, what I need is Money, I'm so happy, I will improve my business.
Make it rain some cash. I live in a part of town where there are a lot of laundromats. For walk in traffic. And then offer folded laundry to all the rich moms and delivery. Then keep the location open 24/7 to make money over night.
i feel like most of those businesses only work in america. i ain't never seen a ice vending machine here in europe (switzerland, germany, france) i rarely see laundromats, and nobody i know washes their clothes in laundromats. carwashes is probably one of the only ones of those that i could see doing well.
I could add pickup and delivery laundry to my laundromat and add $100000 plus profit.... but labor in my area would cost 40 to 60 an hour and there is no loyalty to this kind of work in my area of the country...I'm stay with self service laundry don't want the headache of 10 more employees . I would rather have a great facility for customers to use. In today's business environment what if your competitor offers the same service for half or a quarter of the price till your out of business !?
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](/img/tr.png)
What else do ya'll want to know?
Hey Codie, love your content! We actually met a couple of years ago when I was on the BOD for the ALPFA Orange County Chapter and you were a guest speaker! Any tips for how to find boring businesses to buy from baby boomers (BBBB's) in the Austin, Texas area?
@@Nickriley94 love this yes. Ok to do ur question justice go to contrarianthinking and google how to find deals
Love your content as well
How much would you say you needed to start a business like this ??
I’m out in calgary Alberta and I think this would be awesome and would work wonders here.
Is the goal here to acquire or build sizeable wash/dry/fold facilities every X miles or so (i.e., shrink the service time from days to hours or overnight?) or offer franchise opportunities to other wash/dry/fold facilities and run all the logistics (if they wanted to scale quickly without having to spend a lot of capital on physical stores and have ROFRs on all those franchise locations.)
Mark mentioned most of their customers use the service sporadically - implying convenience over necessity. Are most of their clients, in fact, people with washers & dryers that choose to use the service for convenience?
If that is the case, the value prop is really folding clothes as it's the most time-intensive...throwing clothes into the washer and dryer isn't worth much. Have they thought about providing just a folding service as a standalone option? There is certainly overlap with home cleaning services as I'd imagine the folding service would require an individual or two to go into the customer's home.
A few other questions:
Have they experimented with subscription services with a monthly weight or bag limit?
Is anything proprietary about the business? Did they develop any software to handle the operations? Or is this a land and expand / first-mover to scale strategy?
Did the owners acquire the business and add services or improve the service level?
What are the exit plans (if any)? Is this a long-term hold for the majority owners, or are they looking at flipping when they get to some revenue figure?
Are they raising capital? I'm sure folks in the contrarian thinking crew would be interested in investing.
Out of left field question (and not sure if they can collect this level of data on their customers): Can they catalog customer wardrobes? Not sure if there is AI/ML technology that could categorize everything going through their facilities and tag them to a household (excl., sex toys). The manual way would probably be too time-consuming and disrupt the service level.
@@jamesbrine8494 So I wouldn't start it I'd buy it using an SBA loan or seller financing. unconventionalacquisitions.com/laundromats/
I own 2 laundromats in low income areas. I work about 25 hours a week and gross about 240K a year. whilst working with an advisor like Julianne Iwersen Niemann. I used to work in Sears repairs,, so I saved money by fixing my own machines. Believe it or not, the soap detergent vending machines bring in a good amount as well. Trust me starting and maintaining a profitable business starts with properly managing your finance.
Laundromats are easy to operate...I know this lady you mentioned. I bought a laundromat from a friend many years ago who retired overseas. Repairs are costly. Try to at least learn the basics. I have bill acceptor machines to exchange for tokens, much better than counting and hauling quarters . My locations are near low income housing and apartments, which are very good for business.
I owned 3 laundromats in SF. The biggest 3 issues? The Lease, the lease and the lease. Got screwed by two owners that didn't renew the lease. If you own the building, different story. Probably, it will not be bad to work with your advisor
thanks for talking about your situation. Definitely helps a young and desperate poor guy like me to stay encouraged in striving to achieve my first ever owned business ... 240 gr. < - electric, water, mechanical, supplies, janitorial, city taxes, county taxes, insurance, business license heat, cooling costs & misc.. = ? . these taxes really want to make me work with a CFA. so that i can know how to joggle my way through. how do i reach her
Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word
Bravo Kent! I've thought about investing in a laundromat.
When you speak of fixing your own machines, do you mean that YOU actually fix them, OR instead of calling the company that sold them to you, you get your own repairman to fix them for cheaper?
Also, do you have coin operated or buy a token card to use on all the machines? I used a laundromat for the first time in decades a few days ago and I noticed a 100% coin operated store and accross the street, a 100% card operated. I chose the card operated. Is there a difference do you think in which business does better?
Which leads me to my next question, how tough is competition in your area?
LOVE the longer former and deeper dives into your boring businesses! Specifically love hearing more cost breakdowns, numbers, "things that go wrong". Super valuable and full of insight!
Love it. What is missing that you want to know?
@@CodieSanchezCT Perhaps a bit more on recognizing an opportunity as well as understanding future market potential. Also, mirroring what a few others mentioned on production, leaving the text on screen and making it stand out a bit more and, I'd say be mindful when flashing info or graphics on screen in general. It tends to take viewer eyes and attention away from the valuable content you are producing here! Great job and thanks for sharing your value and insight with us!
How did you decide on a number for the 100k in exchange for equity for this deal and other deals ?
@@CodieSanchezCT How to market it, customer acquisitions, how to do the numbers to make sure you're in the right investment, what to insure...anything that helps ensure success...
Mark is a rising star in the industry and making waves where experts previously thought there were limits. You could definitely see all the soul and passion as infrastructure in a growing business. Great interview, host, and production into the video!
This is very smart he added a logistics business to the laundromat and delivered anywhere between 40 and 50 mile radius as to other competitors only deliver 6 mile radius
Great content, Every family has that one person who will break the family financial struggle I hope you become the one ☺
His trade execution quality and profiting is well structured with great financial features.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Good good content.
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
I've seen so many review about this man called Romero pieto who is he ?
Jobs will pay your bills business will make you rich but investment makes and keep you wealthy, the future is inevitable, I hope you become successful!
Assets that can make you rich
Bitcoin
Stocks
Real estate
Most people are gonna become millionaires and will have bitcoin to thank for that..
Investments are stepping stone to SUCCESS, Investing is what create wealth
90% of millionaires right now are investors in the crypto market
@Dr Robert scams...don't fall for that crap
This is the cleanest laundry I have ever seen. Please people, help keep laundry's clean. Biggest negative about travel camping is the laundry's are always so dirty everywhere I go.
Can't say enough about your content the quality and details of your content (logos, cinematography and music choice) is why I keep watching your stuff. Congrats to your team.
Liked the bit with Mario the driver telling his story. Great to hear the employee pov. Reinforces/encourages that It’s all about the people.
Exactly!!
I hired Mario. An absolute gem of a human being. You have to run your operation in a way that pushes down some of the responsibility and ALL the glory. It makes everyone part of the story and process.
"Everyone has one job and one job only" This is an amazing model, in my old job as a bartender, we had a million little things to do and we would be jumping up and downstairs constantly because of lack of staff and even when we had staff we would all be doing a bit of everything, this is annoying for everyone. I think if more businesses went by this model staff would be happier knowing what they are doing and can get into a routine. Very interesting video all businesses should watch
This video will definitely go viral
9:10, what would you say was the biggest factor for year after year growth? Was it marketing? Implementing tech? or something totally different?
OMG your last phrase was right on the money. When you mentioned about Walmart. I don't shop in one, don't support one and I only want to support my local guys and gals. Thank you fascinating and wonderful business on most simplistic level
The 3 mil really went to the folks who sell the trucks and laundry machines. In your next video maybe you can show the books and reconcile those with the bank statements and tax returns.
This is really fascinating about how they operate their facility and each person has their role like an assembly line. Curious to know the breakout of the $3mil in revenues for payroll, operational costs, and net profit. #6 vid today. Thanks for the fabulous content.
Very smart. Not many people change the oil on their car or even wash their car. We outsource so much. Outsource the laundry. I love it. Just ordered The Toyota Way book also. Thank you for expanding my vision.
You still think like a peasant 😂 talking about changing car oil? 😂 Or wash their car? 😂😂
@@yodaddy4735 Men wash their car because they love them.........their cherished toys that need pampering
$3million in revenue sounds like a nice number over the $900k without delivery. But the man power, vehicles, insurance, etc. are all incredibly expensive. She says $3mil but she showed the sheets. The net profit is $81k.
How much do they really make profit?
I want to invest in the course but it's questions like this that make me skeptical
Total income was $238k....I'm not sure where I missed the breakdown on the $3m in revenue?
Real talk, its all about location.
Codie, I've been following your Instagram page for a while, but that was my first time watching one of your UA-cam videos and it was totally awesome! Your content here is a lot better than 90% of the current UA-camrs I watch. Tbh the only critique I have is allowing those text/info blurbs to sit on the screen a bit longer. Those are where some of the really juicy info is and would be nice to have just an extra second or so to absorb it all without having to pause the video. Otherwise, great work so far and I'm looking forward to more of your glorious UA-cam content! :)
This is so helpful thank you!!
@@CodieSanchezCT And the text info should be on a flat background - some is very hard to read when layered over a moving full bleed video image - but small things.. ;) Great content! Lovin the new longer versions, but still lurve your short vids!
agree, had to pause/ rewind a couple times to catch them.
I agree! Keep doing what you’re doing! 👍🏼
Love this content!
Pro Tip: Use a lav mic.
If you ever cover a business in the Vegas area, hit me up. I'll help you bring your production value to the next level.
Her personality is inviting and she gives good insight on the business 👍🏾
Girl, stop hitting those machines! You break it you buy it!
$3 million ...what else they laundering?
Breaking Bad 😂😂😂😂
The size of this business equals 20-30 average size laundromats, so it makes sense
"...one less Wal Mart on the street..." Love this 😍Hubby and I are debt free aside from our mortgage and looking into starting a business like this. Thank you for the great content and info!
Loving the longer form videos Codie. Watching and listening to them intently...but the audio on this video is a little messy. Could you please look into the audio issue for future videos? Really appreciate it.
Yes thank you!
Wow! Great content as always Codie 🙏 Love this business idea and methodology. Thanks for sharing! Keeping this idea on the back burner... 🙌
Codie Sanchez you rock and you keep the asset cash roll flow and this is the best moment of my life 👑✨
Love seeing the behind the scenes of this business!
Yay!
What's keeping me from starting is that "I always thought that Laundromat business will never work in my City/Suburb area" because every one/house/appartement has a washer & dryer machine so why would anybody go to laundromat..... I wonder why I never saw one around.
you have to go to poorer neighborhoods for sure unless you're doing wash n fold
My favorite song the cello sounds like symphoniacs in background I love the happy fun goofy attitude the money education the music my goodness favorite UA-cam channel !!!!
I had this exact idea, glad to see it in the wild
I love it! Good information, Codie and well put together!
Location is critical for a laundromat business. I imagine a lot of research and analytics are involved when opening or investing in a laundromat. Being near a college campus is probably an advantageous location.
College students are generally broke.. there's no way this type of business which likely has a hefty markup on doing your own laundry, thrives around a campus
People with private houses with washers and dryers use the laundromat. Lol.if you see people, you need a laundromat. Lol
as a garment care business owner, i can confer with ever thing he said. bulk detergent is life. i store mine near the washing machines.
haha that was my one thought.... why isn't the detergent stored in big hanging shelves that hang down from the ceiling so the it's at eye level when you're loading laundry? Like the systems they have in oil change places so that each stall just grabs a nozzle for oil or whatever
The real trick to these places making money is the passive income from the night time laundry service. When normally the place would be closed and thus making no money. He is able to exploit that down time and maximize profits. Good for him
Awesome content, thank you Codie!!!
(note for the future: audio could probably use a little tuning up and better balancing with background track)
(note after the note: a few of the info graphics could have been up .5sec longer or more to be more legible)
Thanks for the feedback that's great!
I second this. Super hard to hear what's being said. Thanks for posting this video.
3rd
Waste of money - makes enough to keep afloat - but not enough with the headaches and rude people.
As a small business owner I have to say this is NOT for 95% of future business owners. This requires huge capital expenditure, software, labor, learning curve...it's a huge risk for anyone who is not backed by BIG money investor. And it requires operating expertise. Only the BIG company can do this level of service, from design to service this is more like a franchise not a small business. It maybe impressive to show a $3M topline, I can guess after rent, lease of the machines, utilities, labor, accounting, payroll taxes, and much more...they maybe netting 5 to 10% pure profits, but one big advantage they got is they built a business model that can scale, with caveat of as long as even more millions are constantly poured in from big money investors. In other words, nice production but not practical for most small business wannbe owners. It's extremely hard if not impossible to find or start a true operator owner small business that generates real profits and won't bankrupt you. My advice is to all small business owner wannbe/aspired to be is don't waste time day dream a business like this, rather start small, anything literally, get your feet wet on running a business, meaning selling, collecting money, pay bills, once you got that down ideas will come to you. NO one here on UA-cam will share anything real with you, you will learn almost nothing from these videos. Other than oh wow they already made it. Do the actual work of selling buying paying sweating stressing grinding, do it for years, you will very quickly figure what works what doesn't and the real secrets of running a place and profit from it.
"Uhh, can u please stop slapping my machines? I got the point already..."
This is a really interesting video for anyone who is looking to create wealth in their business. I know from personal experience cause im in the business. good video
I think full service can be applied to other boring business, like for example, you got renting an apartment, you add full service an is a airbnb, I think is a good concept
I'm so blown away by this, I'm hooked
I love that.. I want to see normal people win too!
Assembly line. Implement Toyota Production System ie. Lean Manafacturing.
exactly!
Honey this is not a small business, this is a small business idea turned into a huge operational business.
Thank you for making this video! I am exploring business opptunties besides working for fulltime... Love your video content!
Love the statement, "and that is 1 less Walmart on the street ".
14:48 The employee is not going to be able to support his family or pay for his kids to go to college. The owner is a millionaire but this employees probably have to get food stamps.
Good point.
I love this video and I was waiting for your UA-cam videos for so long! 😍
One point for the next video: it is a little bit hard to understand you two, when you are sitting on the washing machines. Maybe you should think about small microphones to put on your clothes, so that the sounds is better and clearer. ☺️
tyyyyyyyyy!!!
This laundromat is so clean. I want to open a laundromat but I don't know how to go about doing it. How do I start a business like this?
Yeah Codie!😊
during the pandemic, Laundromats are wiped out in the State! Those owners are at a total loss. Not working.
Im a logistics guy and you wiuld think that yhe logistics would impress me but the most important thing was comparing doing laundry through the business was like ordering a pizza.
Priceless content!
This is great content! Thank you! One ask though, the transitions between some of the slides were really fast. If you could make them a little slower - there were a lot of good nuggets to note but had to either pause or rewind several times to re-read everything.
$3 million doesn't mean much. Uber pulls $18.3 billion in 2021, and yet their annual profit is negative $0.4 billion...I hope you see my point. If you're generating $3m annually, and your profit if $10,000 then this is a crap investment.
Wait it was 10k a month not a year right?
If it was a 'crap investment' they would move on to something else. You can't measure this against a completely different business. So many people are making wild invalid guesses in these comments.
Thank you for this. I've been wanting to own a laundromat since I was a young teenager because it just always made sense to me. The things yall discussed just made me realize my thought process was on the right track. Sheesh you don't even know how God just used you to speak to me. Peace and Blessings! ❤
love the hip-hop cello suite no. 1 at the end
Hey Codie. Ran into one of your videos on my feed today and I’ve already seen two. Thank you for the content and inspiration. And yes I subscribed!
People will do anything that will save them time..time is very valuable in this society.
First video seeing of yours. I love what you said about small businesses at the end and wish more people thought like that.
Awesome idea! How about customers walking in customers? I did not see many around there.
How much do you actually clear? After electric and water and payment for the building?
This Channel has me hooked! Such good info and good motivator!
Loved this !! Thanks Codie !! And yes, I subscribed.
Why would laundry in the dryers be dirty?
Wow!!!!
Awesome concept. I may need to do this as well.
Thanks for sharing your amazing journey
Yay!
$81k/ year net for that all work and managing isn't worth it at all.
Yea how tf is he going from $3M revenue to $81k profit. I sense some fuckery to fudge the IRS taxes
Excellent content Codie. We bought a value add mom and pop laundromat 2 years ago. Very under the radar business. Great cashflow, especially for the time invested. We have been offering on several of late, It just takes some time and effort to find the right deal. We would love to model something like this in our town. We are considering using the Brio Laundry model out of Washington state.
Super interesting. Love to hear more and highlight you in our group too!
Very cool presentation - but . . . They don't make $3MM, they have revenue of $3MM - with all that labor, supply costs, fuel, insurance and utilities, what is their profit margin?
Around 20% most likely and then split between partners
Usually when talking of a business "make" is referring to revenue, whereas "cashflow/clear/EBITDA" is speaking to profits. Laundromat makes 3MM, but I'd love to know the Net margin as well, even better EBITDA.
I'm confused too - did you make 3MM or 81k (in 2020)?
Often times they don't want to share their profit number as they are going for scale and investment which I think is totally fair so they made $3MM in revenue.
Let say %10 profit = 300k ...
With that many employees, running 22 hrs a day, delivery vehicles, building and utility costs, is there any money left for the owner at the end of the day?
I have the same question, I don’t think it will bring a lots of cash. The job itself is very time consuming and takes a lots of people involved, plus electricity and water is not cheap.
Great content! Kids are gods gifts! Keep up the great work 👍
Love this...I just bumped into your channel & I've been watching your videos. So, much helpful info. Keep doing what your doing.
I love this history, i wish know this laundry some day. Congratulations! from Brazil!
All of this was amazing! 👏
The term "brings in" means gross revenue. The term "makes" means net profit. This laundry does not "make" $3 million in net profit.
Great information. Thank you. Please show the text longer. I don't think anyone can read that fast. Had to rewind a lot.
so helpful ty
will do
Fantastic video! Super well done, great content, great style, that was a FAST 15 minutes!
Yay!!!
10:00 that was a pretty epic moment 😅😂😂
Hahah right?
Great video love your message at the end one less Walmart on the street that’s a story I can get behind that’s 200 IQ right there
As a new subscriber keep up the good work
I am from other country...can someone answer my question...Why can't US people afford to buy their own Washer rather than spending so much on Laundry bills???? Why???
Great video! Thank you!! So is this laundry mat not open to the public? Or are the employees washing after it closes?
The background music is making it hard to listen to the conversation
Great feedback ty!! We’ll work on that.!
I love the scale of this business.
I own a Wash & Fold Laundromat Service, I was thinking to Sell it, because Pandemic kill my business, all the Tourist, The International Students, and the AIR B&B Business that almost die too with covi, I don't even know how I found the Video, but I see what he did and I just need to optimize the Administration and open 24 HORES A DAY, AND WHY NOT, what I need is Money, I'm so happy, I will improve my business.
You sh out of open this in Denver. I think people would love it.
So, question. The bags that are left with the customers, are those like a 1 time use the customer just throws them away?
ok how do I get that bulk soap? F paying $6000 for some tide pods
I don’t think Walmart is going anywhere
Wow what incredible operation so cool great info thanks Sanchez.. 😎🤘🏽
How much time it takes between picking up the laundry and delivering?
Well done Codie! Definitely learned a few things.
❤️❤️❤️❤️
Make it rain some cash. I live in a part of town where there are a lot of laundromats. For walk in traffic. And then offer folded laundry to all the rich moms and delivery. Then keep the location open 24/7 to make money over night.
Now that’s what i call…
Money laundering 😎
*YEAAAAAAAAAAAHHHH*
This was so dope !
Amazing what did u like and not?
How you avoid the mistake of returning the clothes to the wrong owner?
Congratulations 🎉👏👏👏👏👏👏👏👏👏👏👏👏👏👏
Codie Sanchez your a sweetheart I learn so much from u ❤❤❤❤
i feel like most of those businesses only work in america. i ain't never seen a ice vending machine here in europe (switzerland, germany, france) i rarely see laundromats, and nobody i know washes their clothes in laundromats. carwashes is probably one of the only ones of those that i could see doing well.
We do still have some laundrymats in UK cities, but its pretty niche as most people do their own. Certainly no call for ice machines in the UK!
I could add pickup and delivery laundry to my laundromat and add $100000 plus profit.... but labor in my area would cost 40 to 60 an hour and there is no loyalty to this kind of work in my area of the country...I'm stay with self service laundry don't want the headache of 10 more employees . I would rather have a great facility for customers to use. In today's business environment what if your competitor offers the same service for half or a quarter of the price till your out of business !?
Makes sense. I think you need to ramp up to make it make sense.