I was thinking that having a well lit public area with visible camera monitors tends to make people feel safer and more likely to walk around the place then to stay by the windows. A sun/moon roof in a laundromat, or a gazebo area might be a draw to the public too.
I work at a sports venue company and see this all the time, people will jump in the first queue because it's closest even if it means they have to wait longer rather then spreading out
I had to bring my comforters/large bedding to the local laundromat last spring to get them ready to store until needed. There's no way that I could wash them at home, even with a decent capacity front loader. These are king sized bedding. Luckily the laundromat had two of those GIANT washers.
Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
Dude that's such a great idea. I brought mine to the cleaners (didn't know what else to do) and its was $50!!!!!! Definitely doing what you did next time.
When I go to the laundromat, I bring a stack of $20 bills with me, and keep feeding them into the quarter changer. While waiting for my clothes, I go through all those quarters looking for a silver one, they're worth about $4.50 each. Doesn't cost me anything but time and effort.
Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
@@dorcasbockelman2392 Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
@@JohnSmith-nj4zq Might as well require everyone who enters to scan their face or info. Otherwise you’d have to reinforce the coin pusher with half an inch of steel.
If the big washer is a good draw, you should consider getting rid of the old white ones and replacing it with another. In the long run, it would pay off. Another thing that can be a good money catch is a claw machine. Fill it with cheap prizes, and it’s almost all profit.
This is a great video for anyone considering starting their own laundromat business. The speaker covers everything from start to finish and gives some great tips along the way.
When 5 people lived here using all the electricity, especially using washer and dryer, power bill was easily $400 month. Curious see your utility bills vs profit. That's the real story of how profitable it is.
See if a 5 gallon bucket will fit under the machine. At least that way maybe you won't have all those quarters lying around at the bottom and you can just conveinently swap out buckets without worrying about them breaking. If need be put in some spacer 2x4 blocks to raise the bucket up closer to where the coins drop.
You can get even a few different container sizes that they use for grains, or storage that will catch everything for sure. Just experiment with a couple sizes and you’ll be doing great. 👍
one thing i would do before dealing with the quarters or cash from the change machines is lock the door to the laundromat it might be a little inconvenient for the customers but you never know if someone high on drugs will come rushing in and try to rob you of the money when someone is high on drugs they feel like they have the energy to do something like robbing someone of their money. your own personal safety is way more important than the money out of the machines at the laundromat
I've addressed this in other videos, I've got a.....system.....for cashouts/coin collections I don't talk about, that gives me flexibility and limits my risk profile.
@@76smyt hopefully it's time goes on we can address this and about how I deal with it in business. I'm friends with a couple bodyguards and both former and active military I really do pay attention to what these people say when it comes to threat assessment
@@babyzoe9147 any gun carrying is legal. The problem is cops who obey tyrants who have passed unconstitutional "laws." In law, illegal laws are called _de facto._
I won't due to being on UA-cam, there's ALOT of people that say they're illegal, and while I don't believe they are, and I could get an attorney letter stating the same, I just don't want to deal with the problems, so for 50% of the revenue, I can roll that off on someone else.
@@themomentalist I think what he’s saying is he doesn’t want to buy one only to have it confiscated and be out the investment. This way it’s money in every month with no payments.
The laundry mat I go to in my area and probably 4 others are mostly operating on solar panels they usually operate with just water expense and gas and zero on electricity since they have so many panels
@@sting114 pay top dollar for any business and what you stated doesn't matter. At the end of the day even a bad location can be overcome if there's cash flow which is easily achievable if you pay rock bottom prices for the business. Obviously location is important at the end of the day, but it's not an end all be all.
This is so awesome to me. I have always dreamed of owning a laundromat since I was a kid. Lol idk why but I always loved laundromats and thought it would be awesome to own and operate one. I have been to some really sketchy laundromats in my lifetime so I always dreamed of how I would have mine set up lol.
@Nicholas Holloway LOL same here. The arcade would be amazing. But it does seem like one would lose money before they started making it 🤔? Idk I have never owned anything like that before lol.
@@gabe6394 I live in a town of roughly 45000. The only laundromat in town burnt down about 4 years ago... Maybe 5. Anyway, the nearest laundromat is in the next town at least 25 min drive away
Unfortunately, the Wash House has taken over the town where I am in. There is a Wash House laundromat almost everywhere so not able to set up shop where I'm at.
"No one wants to come into a dirty laundromat." If that was only true. I use to go one that had more machines and they all work. They had TV and 2 arcade units. And it was always clean. But hardly anyone went there and I would talk to the owners never understood why cause they always maintain the place and machines and prices were better. Across the street from it everyone was there but that place had more than half of the machines broken down and it was always dirty. The cleaner laundromat ended going out of business and the dirty one is still dirty and still open.
i also always preferred the 'lowkey' laundromats where i'm less likely to run into people, even if it meant the people i did run in to were less than desirable xD
I find it fascinating that these machines aren’t all bank card operated. As a fan of physical currency its great to see that plenty of people are still using notes and coins!
The government HATES physical cash. Use it as much as you can. Also most people working retail can't count anymore so a lot of the time you will get extra charge back.
The other thing with this is you gotta be smart with the quarters you get. There are quarters out there that are worth thousands of $$$. With the most expensive over $100,000
Could you do a video on upfront costs and the process of buying a laundromat and how to avoid mistakes that you have made because I am heavily considering trying to get my own laundromat but no one have posted a clear cost vs return monthly
No matter the decisions you make, make them with "integrity". Do not make a decision solely based on the benefit or the consequence; good decisions should be based on "how" you made them not the result...
Our local laundromat just upgraded to coinless machines. Customers use another machine to purchase a reloadable card and add funds to it with either bills,credit card or debit card. They then use the reloadable card at the machines with a touch less pad like at the gas pump. No dealing with mountains of coins and the headaches of maintaining the mechanical structure to accept them. This extended family owns at least a dozen laundromats in small towns around here. They support 3 family units very comfortably.
@@jaggermurlin6343 I noticed most people are still using cash at the one card loader machine in the place, but it was all bills. Put $X on your card, and if any is left over, you can use it next time. Just have to keep the card. There is a one time fee of $1 for a card. If you lose your card, you lose whatever was loaded on it and have to pay $1 for a new one. Also, many people only use a debit card, and I don't think the fees are quite so high as for a true credit card.
Keep in mind people, this is a You Tube Channel, where one makes money on views, thus interesting (Not always accurate content) is what he makes money on. Instead of just showing sales figures, you'll notice there's no full disclosure on all the expenses associated with the laundromat. What are monthly lease costs on the space, does he own the building or rent, what are the costs on natural gas, and electricity, proper cost to lease all the equipment. Don't go getting all excited people, this isn't a truly fair and transparent analysis of his business, again, UA-camr...
Exactly, people drool over the content and get some grand idea to open their own laundromat not actually understanding the costs associated with it and just set themselves up for failure.
after watching this I still wonder if the laundromat you bought three years ago is making money. It would be helpful to know your operating expenses and overhead.
Our laundromat makes you bring your laundry into the building. Then, you can use the quarter machine. Someone shot a 22 inside at the windows it was lucky they didn't break. They broke into the bill changer and got the money. Theres a quarter coin pusher. An older man comes in with 10 dollars. He takes and puts 2 in and when pusher comes forward he smack the machine to get money to pay for his laundry. It usually pays off. Does when the laundromat person isn't there. As far as the coins ask that person what he does with the silver coins. Make a deal.
As a coin collector, my ears always listening for the tone of silver. How often do you get silver and oddities. Would be fun to see a quick vid of the everything but quarters that you receive.
My local laundromat is charging double your prices, like you biggest Dexter (12.00). I stopped going because it’s cheaper to use my apt top loader and spend a day doing 2-3 separate loads. Either they are greedy or got caught up on an overpriced lease.
Any thoughts about doing apple pay / google pay / RFID ? Maybe save some of the maintenance / hassle on dealing with the coins? I always aim for those when i'm on travel just so I don't have to create change.
Brandon, is the current economy affecting your laundromat? I know a lot of small businesses are suffering because older folks are having to choose between food and medicines.. the other day I actually paid for a lady's medicine because she flat out didn't have the $45 for her meds..
I wish my local laundrymats machines would take a card. Or let the mat have its own card. You buy the mat's wash card and fill it with money like a pre paid credit card and use it only at the mat. I hate having to shove coins in a machine over and over. God I wish Id had a bucket of quarters like that in the early 1980s when I was 12 oe 13 in the malls arcade. Would have been a dream come true. Once..ONCE,...I had a $5 bill and was in heaven for a couple hours. Seeing all those tokens come out of the change machine..weeeee.
I wouldn’t do it if I had to get a card or use tokens. I’m there to do my laundry not play a coin pusher, if it’s there and I got some quarters.. sure helps pass the time
If he switched to cards or tokens all the other stuff he has added to gain extra profit wouldn't be used. They spend extra quarters alot faster if everything runs on quarters and cash
It all comes down to customer-ease which is #1 for me. If it's hard/difficult for a 60yr old woman who's used this laundromat for 20yrs, I don't know that I WANT IT. What I DO WANT are systems that run along-side what I have, so younger/more astute people can use them.
@@InvestmentJoy Yeh having the facility for the change machine to take card/Google pay/apple pay payment would be a good idea... With it spitting out quarters as normal
@@InvestmentJoy *IF* you move to the card system, just have a looping video showing how to use them. Or hire some kid to stay there for a few weeks explaining it to the adults.
7:40, I use those kind because they are the Cheapest ones they have to use for the Amount of clothing I wash. A Wash and Dry for me is only $4. If I use the Same Equal Size Upright, my Wash and Dry is now $8. And now the SCAM/SPAM Bot will post a reply under my comment. And UA-cam took away my ability to Report them.
"Marylnn Manson Music is all the Laundomat plays.... Mostly because it is a 'Front Business".... People I used to know, have Businesses that are like this one... Racketeering is Big Business....
I had a thought watching, would a laundry detergent,softener, etc vending machine be at all helpful? You probably have one but I didn't see the taller one that we had at the hotel we ran and thats what I am used to seeing.
I'm a little confused. you dumped all the washers' and dryers' quarters into the change machine without counting it. How do you knpow how much was there? Is it simply by counting the bills in the change machine?
What is the possibility of running roof top solar power generation, to subsidize some of the gas cost of running a room full of coin-op clothing dryers?
I work in a laundromat and our dryer is 6 minutes per $.25. My boss will get the quarters every2-3 days and am sure they lots of money since we have many washing machi9ne and dryers. We have about 2 $3.75, 11 $4.75, 5 $5.75, 3 $6.75 and 1 $10.75 the biggest. We are open 7 days a week and have 2 workers maintaining the place. Weekends are always the busiest of the week. We open 8am to 8pm :)... How many machine you got and by how much... I see similar machine that are used in laundromat... We have about 20 dryers...Me and my friend are thinking of making our won but I know its a hassle hahahahha...
I doubt it. I work for a place that has industrial washers and we have never had an inspection by the wastewater plant. Now the health department is a different issue
Curious ... what about using tokens instead of quarters for these machines if possible. You know like a video arcade might do. that way gathering money would be a faster potentially safer process. pretty much gathering money from one spot and refilling the token machine. Plus you would be dealing with less work and you are not sitting on money stuck there to make change in the laundromat.
I own a strip club and built a strip mall next to it when money was cheap to borrow and was looking to add a laundromat next to the club to drive some afternoon traffic. Was thinking about maybe a topless wash and fold service during the day. Any suggestions?
Hey I've seen your channel a few times on my feed but it never subscribed before just did and was wondering if it's possible to start a laundromat on a shoestring budget interested in getting a laundromat because of the stability they have was wondering what your thoughts were on that also was wondering how the current economy is affecting your laundromat Etc.
Thanks for the behind-the-scenes look at your business. Besides the revenue, the coin buckets will benefit you via the workout. You'll have guns of steel soon. : )
For decades, a math puzzle has stumped the smartest mathematicians in the world. x3+y3+z3=k, with k being all the numbers from one to 100, is a Diophantine equation, this is also known as math.
Interesting...I have no idea how that equation works. Here's my question...I'm in San Francisco, and it has gotten very difficult for small business owners due to street crime. I want to run a small specialty bar, but can't figure out where a safer place to do this from is...any suggestions?
Its darker in the middle of the room, no lights abiove the mchines, maybe some people dont like using the machines in a darker area.
People are lazy. They don’t wanna carry/move clothes further than they have to.
@@shawnsmith4612 lazy? sounds like efficiency. Work smarter, not harder.
I will only use a toilet stall that has good lighting above it, if the stall isn’t well lit I will find one that is.
I was thinking that having a well lit public area with visible camera monitors tends to make people feel safer and more likely to walk around the place then to stay by the windows. A sun/moon roof in a laundromat, or a gazebo area might be a draw to the public too.
I work at a sports venue company and see this all the time, people will jump in the first queue because it's closest even if it means they have to wait longer rather then spreading out
I had to bring my comforters/large bedding to the local laundromat last spring to get them ready to store until needed. There's no way that I could wash them at home, even with a decent capacity front loader. These are king sized bedding. Luckily the laundromat had two of those GIANT washers.
Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
Dude that's such a great idea. I brought mine to the cleaners (didn't know what else to do) and its was $50!!!!!! Definitely doing what you did next time.
@@jakemandude7974no one came here to listen to you preach about your imaginary sky wizard. That's what Church is for.
@@jakemandude7974Thanks for preaching! I definitely enjoyed Jesus’ words.
When I go to the laundromat, I bring a stack of $20 bills with me, and keep feeding them into the quarter changer. While waiting for my clothes, I go through all those quarters looking for a silver one, they're worth about $4.50 each. Doesn't cost me anything but time and effort.
What year would that be?
Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
@@dorcasbockelman2392 Jesus Loves you Matthew 11:28 come to me all who are weary and burdened, and I will give you rest. As well as Romans 6:23 for the wages of sin is death but the gift of God (Jesus who died on the cross for our sins) is eternal life. As long as you put your faith and trust in Him.😊!!!
@@dorcasbockelman2392 1964 and before. Same for dimes.
Wow!! That coin pusher was LOADED!! Nice my guy! 🤜🤛
It must be a good neighborhood. Most of the time, the coin pusher will get vandalized and everything will be taken. Sometimes it's not worth getting.
Cameras are probably helping.
@@Supperdude9 Not when they are wearing hoodies and masks.
@@JohnSmith-nj4zq Might as well require everyone who enters to scan their face or info. Otherwise you’d have to reinforce the coin pusher with half an inch of steel.
If the big washer is a good draw, you should consider getting rid of the old white ones and replacing it with another. In the long run, it would pay off. Another thing that can be a good money catch is a claw machine. Fill it with cheap prizes, and it’s almost all profit.
This is what we WILL be doing, the issue is finding/setting it up so that the large replacement washer faces the same way, the big 60lb unit is HUGE.
@@InvestmentJoy That's the major issue in such a compact space. Real Estate. And you need to have enough space so your customers can do their sorting.
I won’t use the white washers at the laundromat I feel like they’re always dirty and smell
This is a great video for anyone considering starting their own laundromat business. The speaker covers everything from start to finish and gives some great tips along the way.
I don't know what I thought was in that machine but didnt expect that primitive simplicity. It's actually impressive. 1:03
It's amazing how simple alot of stuff can be once you peel off the front (Washers and dryers included)
@@InvestmentJoy Bernie Rico Jr Hibernian 7-string guitars or not?
When 5 people lived here using all the electricity, especially using washer and dryer, power bill was easily $400 month. Curious see your utility bills vs profit. That's the real story of how profitable it is.
Wow. It’s been years since I’ve been in that laundromat! It looks so much nicer.
Awesome!
See if a 5 gallon bucket will fit under the machine. At least that way maybe you won't have all those quarters lying around at the bottom and you can just conveinently swap out buckets without worrying about them breaking. If need be put in some spacer 2x4 blocks to raise the bucket up closer to where the coins drop.
You can get even a few different container sizes that they use for grains, or storage that will catch everything for sure. Just experiment with a couple sizes and you’ll be doing great. 👍
one thing i would do before dealing with the quarters or cash from the change machines is lock the door to the laundromat it might be a little inconvenient for the customers but you never know if someone high on drugs will come rushing in and try to rob you of the money when someone is high on drugs they feel like they have the energy to do something like robbing someone of their money. your own personal safety is way more important than the money out of the machines at the laundromat
I've addressed this in other videos, I've got a.....system.....for cashouts/coin collections I don't talk about, that gives me flexibility and limits my risk profile.
@@InvestmentJoy Just be careful. I grew up with a friend who lost his mom to a robbery at the laundromat she owned
@@76smyt hopefully it's time goes on we can address this and about how I deal with it in business. I'm friends with a couple bodyguards and both former and active military I really do pay attention to what these people say when it comes to threat assessment
It’s better to carry the gun legally and safely.
@@babyzoe9147 any gun carrying is legal. The problem is cops who obey tyrants who have passed unconstitutional "laws." In law, illegal laws are called _de facto._
Buy your own quarter pusher.
I won't due to being on UA-cam, there's ALOT of people that say they're illegal, and while I don't believe they are, and I could get an attorney letter stating the same, I just don't want to deal with the problems, so for 50% of the revenue, I can roll that off on someone else.
Understand
@@InvestmentJoy if u were from the 409 I could do 60/40 u get 60
@@InvestmentJoy But you allow it to be operated in your premises? If it was illegal in your state, then you’d be as liable as the owner…
@@themomentalist I think what he’s saying is he doesn’t want to buy one only to have it confiscated and be out the investment. This way it’s money in every month with no payments.
The laundry mat I go to in my area and probably 4 others are mostly operating on solar panels they usually operate with just water expense and gas and zero on electricity since they have so many panels
These always inspire me to open a laundromat. I always wanted to own multiple businesses and a laundromat would be so dope
Be careful because lots of laundromats out there don’t make any profit
@@sting114 yeah I feel that ik it can be a bit of a gamble but anyway It is motivating to think about starting a whole working business like that
He made money because he bought completely run down properties and the deal was super cheap.
@@ObscureManifesto negative. Location and competition are key 🔑 also
@@sting114 pay top dollar for any business and what you stated doesn't matter. At the end of the day even a bad location can be overcome if there's cash flow which is easily achievable if you pay rock bottom prices for the business. Obviously location is important at the end of the day, but it's not an end all be all.
This is so awesome to me. I have always dreamed of owning a laundromat since I was a kid. Lol idk why but I always loved laundromats and thought it would be awesome to own and operate one. I have been to some really sketchy laundromats in my lifetime so I always dreamed of how I would have mine set up lol.
Laundromat/arcade for me. Be fun ngl. Not sure about profit though lol
@Nicholas Holloway LOL same here. The arcade would be amazing. But it does seem like one would lose money before they started making it 🤔? Idk I have never owned anything like that before lol.
@@gabe6394 I live in a town of roughly 45000. The only laundromat in town burnt down about 4 years ago... Maybe 5. Anyway, the nearest laundromat is in the next town at least 25 min drive away
Unfortunately, the Wash House has taken over the town where I am in. There is a Wash House laundromat almost everywhere so not able to set up shop where I'm at.
I didn't know it's a good business and a lonely Mat
"No one wants to come into a dirty laundromat." If that was only true. I use to go one that had more machines and they all work. They had TV and 2 arcade units. And it was always clean. But hardly anyone went there and I would talk to the owners never understood why cause they always maintain the place and machines and prices were better. Across the street from it everyone was there but that place had more than half of the machines broken down and it was always dirty. The cleaner laundromat ended going out of business and the dirty one is still dirty and still open.
i also always preferred the 'lowkey' laundromats where i'm less likely to run into people, even if it meant the people i did run in to were less than desirable xD
Why do you think everyone went to the dirty one? Cheaper prices?
It was the local drug hangout I'd wager and had less expenses.
wow I haven't watched your videos in years. This laundromat is looking really good.
I wood make room for 1 or 2 more big washers! Great job on making the pusher visually appealing.
I find it fascinating that these machines aren’t all bank card operated. As a fan of physical currency its great to see that plenty of people are still using notes and coins!
The government HATES physical cash. Use it as much as you can. Also most people working retail can't count anymore so a lot of the time you will get extra charge back.
The people who tend to use them don't have bank cards.
@@trucid2 are you trying to imply that people that live in an apartment aren't financially responsible?
@@a-nus Yes and he's right.
Physical currency sucks
Very interesting. Thanks for the peek behind the door.
The other thing with this is you gotta be smart with the quarters you get. There are quarters out there that are worth thousands of $$$. With the most expensive over $100,000
Could you do a video on upfront costs and the process of buying a laundromat and how to avoid mistakes that you have made because I am heavily considering trying to get my own laundromat but no one have posted a clear cost vs return monthly
I've done a few, I'd like to do a 30m mini documentary next year on it
@@InvestmentJoy I would watch it. :)
@@the_lenny_draper so would I 💜
Please do. I am interested in getting into the laundromat business.
No matter the decisions you make, make them with "integrity". Do not make a decision solely based on the benefit or the consequence; good decisions should be based on "how" you made them not the result...
A laundromat is not cheap to maintain. There's a reason half the washers are out of service at most laundries.
I am told that, at least in my area, it is hard to find repair men.
5000th like I’m so proud. by the way this is awesome, I am now looking into a business just like that.
Our local laundromat just upgraded to coinless machines. Customers use another machine to purchase a reloadable card and add funds to it with either bills,credit card or debit card. They then use the reloadable card at the machines with a touch less pad like at the gas pump. No dealing with mountains of coins and the headaches of maintaining the mechanical structure to accept them. This extended family owns at least a dozen laundromats in small towns around here. They support 3 family units very comfortably.
Service on those card readers are a NIGHTMARE and expensive 💰 !!!!!
@@lonestar5233 nobody carries cash on them anymore..........
3 percent atleast going right out the door for card reader fees. That might be the maintenance costs right there.
@@jaggermurlin6343 I noticed most people are still using cash at the one card loader machine in the place, but it was all bills. Put $X on your card, and if any is left over, you can use it next time. Just have to keep the card. There is a one time fee of $1 for a card. If you lose your card, you lose whatever was loaded on it and have to pay $1 for a new one. Also, many people only use a debit card, and I don't think the fees are quite so high as for a true credit card.
@aaron clay ummmmm they still do. Those cards reader's are trash when they go down they go down. Coin acceptor are just so much easier
has it already been 3 years? time flies
Awesome video Brandon
There’s so much information in these videos
If those old ones are only 1k a piece they seem to make the most sense to start.
Strangely satisfying to see peocess and to see profit that can be made. Were i can see a peoblem is cost of electricity and gas will erode the profit
Good video. I'm thinking about owning a laundromat. Doing research now
That gold quarter could be a quarter struck on a gold planchet. Worth a ton of money, maybe.
the laundry mat i use when i have to go also chargers .25 cents for 6 minutes on dryers. so .25 for 8 minutes would be awesome.
Never been a gambler but I love those quarter pusher machines.
Coin pushers are banned in my state, the government here considers them slot machines and gambling.
they are gambling...........
People always gotta wash their clothes. Recession proof. Laundromats are one of the best businesses you can buy. Very turnkey. Love your channel dude.
Do you video on how to pay the taxes on a business?
Very nice work
Keep in mind people, this is a You Tube Channel, where one makes money on views, thus interesting (Not always accurate content) is what he makes money on. Instead of just showing sales figures, you'll notice there's no full disclosure on all the expenses associated with the laundromat. What are monthly lease costs on the space, does he own the building or rent, what are the costs on natural gas, and electricity, proper cost to lease all the equipment. Don't go getting all excited people, this isn't a truly fair and transparent analysis of his business, again, UA-camr...
Exactly, people drool over the content and get some grand idea to open their own laundromat not actually understanding the costs associated with it and just set themselves up for failure.
What if you hypothetically came across one million through inheritance
after watching this I still wonder if the laundromat you bought three years ago is making money. It would be helpful to know your operating expenses and overhead.
Is it really proftable when you factor in the electric bill generated by the dryers?
He just explained that it's around $200 a month for the dryers to operate and they're not electric they are gas.
Yeah the electric on gas dryers is basically just to run the computer board and the spin motor, so I suspect it would be very low.
And the lease/rent on the building
there was a good amount of quarters in the quarter pusher that is not in the bucket.
I saw that too
I wonder how much if he included all those quarters that didn't end up in the bucket.
or did he include it and got them all scooped up but did not make the final cut in the video?
I hope you're loking out for Star singles. $1 bills with a star in at the end of the serial numbers are worth $20 when you turn them in to the bank!
Our laundromat makes you bring your laundry into the building. Then, you can use the quarter machine. Someone shot a 22 inside at the windows it was lucky they didn't break. They broke into the bill changer and got the money. Theres a quarter coin pusher. An older man comes in with 10 dollars. He takes and puts 2 in and when pusher comes forward he smack the machine to get money to pay for his laundry. It usually pays off. Does when the laundromat person isn't there. As far as the coins ask that person what he does with the silver coins. Make a deal.
As a coin collector, my ears always listening for the tone of silver. How often do you get silver and oddities. Would be fun to see a quick vid of the everything but quarters that you receive.
Sadly it's mostly kids raiding thwir grandma's coin collection who'd use them on the coin pusher.
$2,000 give or take in a week. That's pretty good.
My local laundromat is charging double your prices, like you biggest Dexter (12.00). I stopped going because it’s cheaper to use my apt top loader and spend a day doing 2-3 separate loads. Either they are greedy or got caught up on an overpriced lease.
Are those new dryers maintenance free for the most part or do they still kick out thermistor codes from time to time ?
first impression: take out the washers and dryers. Fill with coin pusher games.
In Alaska our laundrymats have showers. B & C is $5 dollars a shower or $6.25 with a towel and wash cloth
What is B & C?
Did you ever look into switching to card and did it make business sense? I’ve seen some laundromats convert to card
Any thoughts about doing apple pay / google pay / RFID ? Maybe save some of the maintenance / hassle on dealing with the coins? I always aim for those when i'm on travel just so I don't have to create change.
you need to understand your target market when you are trying to make money - he is and you are not
@@JamesJoyce12 depends on the neighborhood clientele and cash is always KING.....other than cash it can all be tracked.
You could have probably bought several of your own coinpushers by now, just for what you have lost when that one is broken all the time.
Brandon, is the current economy affecting your laundromat? I know a lot of small businesses are suffering because older folks are having to choose between food and medicines.. the other day I actually paid for a lady's medicine because she flat out didn't have the $45 for her meds..
Business is up
laundromats have inelastic demand
@@samueljrichardson2499 people still gotta do laundry, most arent going to re-wear dirty clothes unless they are really on some hard times :/
Respect to you for doing that
Not all laundromats are the same . Some make money, some break even, but most lose money 💰.
I wish my local laundrymats machines would take a card. Or let the mat have its own card. You buy the mat's wash card and fill it with money like a pre paid credit card and use it only at the mat. I hate having to shove coins in a machine over and over. God I wish Id had a bucket of quarters like that in the early 1980s when I was 12 oe 13 in the malls arcade. Would have been a dream come true. Once..ONCE,...I had a $5 bill and was in heaven for a couple hours. Seeing all those tokens come out of the change machine..weeeee.
That's awesome, put quarters in the hopper, pull out a stack of cash.
Is it more profitable to use tokens or reload able cards that can only be used at you place to retain customers better?
I wouldn’t do it if I had to get a card or use tokens. I’m there to do my laundry not play a coin pusher, if it’s there and I got some quarters.. sure helps pass the time
If he switched to cards or tokens all the other stuff he has added to gain extra profit wouldn't be used. They spend extra quarters alot faster if everything runs on quarters and cash
It all comes down to customer-ease which is #1 for me. If it's hard/difficult for a 60yr old woman who's used this laundromat for 20yrs, I don't know that I WANT IT.
What I DO WANT are systems that run along-side what I have, so younger/more astute people can use them.
@@InvestmentJoy Yeh having the facility for the change machine to take card/Google pay/apple pay payment would be a good idea... With it spitting out quarters as normal
@@InvestmentJoy *IF* you move to the card system, just have a looping video showing how to use them. Or hire some kid to stay there for a few weeks explaining it to the adults.
If that gold quarter is a Fredrick Douglas quarter, I might have made it when I was learning electroplating with copper.
@9:20 I take my stuff home to dry! NO washer at home and our water sucks big time anyway!
I would like a complete breakdown, methinks some costs are not being counted...like water & sewer...insurance ??
I guess it depends on where you live in Ohio. We were incredibly conservative with our water usage but we paid a LOT every month. Don’t miss that ✌🏼
How much capital do you need in starting laundromat business??how long will it take for ur ROI? Pro and cons??tnx for replying
It would be cool to see your guitar collection
I really want to know the best way to get started. How much liquid money and did you have to get a bank loan? How was it in the very beginning
7:40, I use those kind because they are the Cheapest ones they have to use for the Amount of clothing I wash. A Wash and Dry for me is only $4. If I use the Same Equal Size Upright, my Wash and Dry is now $8.
And now the SCAM/SPAM Bot will post a reply under my comment. And UA-cam took away my ability to Report them.
I feel you on the bots. The bots seem to be turbo charged now. They are pretty much on 50% of the videos I watch.
actually, the bots this week are doing the 20 post fake convo between multiple accounts
@@jabberwocker6305 UA-cam didn't even notify me I had replies to my comment.
@@jabberwocker6305 UA-cam turned Off my ability to be notified about comments. I had to go back in and turn them back On... Seriously, WTF??
My clothes always got cleaner in the older style machines...I swear
It's all about the time you spend in the store and outside the store..
"Marylnn Manson Music is all the Laundomat plays....
Mostly because it is a 'Front Business"....
People I used to know, have Businesses that are like this one... Racketeering is Big Business....
U could put a cage around ur vending machine so ppl dont tamper with them
LoL, you must be new here
I had a thought watching, would a laundry detergent,softener, etc vending machine be at all helpful? You probably have one but I didn't see the taller one that we had at the hotel we ran and thats what I am used to seeing.
Take the time or make a machine to separate the silver quarters out. More profit.
See about lining that white plastic tub with a canvas cloth that your can pick up by all 4 clorners and dump in your bucket.
I'm a little confused. you dumped all the washers' and dryers' quarters into the change machine without counting it. How do you knpow how much was there? Is it simply by counting the bills in the change machine?
What is the possibility of running roof top solar power generation, to subsidize some of the gas cost of running a room full of coin-op clothing dryers?
you should check the quarter for 1964 silver
I work in a laundromat and our dryer is 6 minutes per $.25. My boss will get the quarters every2-3 days and am sure they lots of money since we have many washing machi9ne and dryers. We have about 2 $3.75, 11 $4.75, 5 $5.75, 3 $6.75 and 1 $10.75 the biggest. We are open 7 days a week and have 2 workers maintaining the place. Weekends are always the busiest of the week. We open 8am to 8pm :)... How many machine you got and by how much... I see similar machine that are used in laundromat... We have about 20 dryers...Me and my friend are thinking of making our won but I know its a hassle hahahahha...
as ur a coincollector also, do you go through all them quarters to find the special ones?
Better have some great cameras as those locks can be picked or melted.
Cameras won't prevent that.
been seeing a few of those "gold looking quarters "
have you noticed the 2022 quarter Vote for Someone >??> whats that gotta do with our currency
Do you get visits from your local wastewater plant pretreatment inspectors to check your discharge waters?
I doubt it. I work for a place that has industrial washers and we have never had an inspection by the wastewater plant. Now the health department is a different issue
u a good man for giving that dude some quaters
So what was the total per month? Was this a week or a month?
Should've done a wrap up at the end where you calculate your profits
Curious ... what about using tokens instead of quarters for these machines if possible. You know like a video arcade might do. that way gathering money would be a faster potentially safer process. pretty much gathering money from one spot and refilling the token machine. Plus you would be dealing with less work and you are not sitting on money stuck there to make change in the laundromat.
I’ve got the 420th comment! Lol I love the coin pushing machine, I’d put American Silver Eagles in there to entice people to play
Taking wet clothes home to dry is very inconvenient and heavy! I'd like to have a Landry matt someday.
I own a strip club and built a strip mall next to it when money was cheap to borrow and was looking to add a laundromat next to the club to drive some afternoon traffic. Was thinking about maybe a topless wash and fold service during the day. Any suggestions?
Add a burger joint served by topless waitresses.
Topless wash
Gotta get some key rings and shot glasses for the machine
You outta search all that change for the big money error coins lol
Can you weigh the coins from each machine to figure out what they're pulling in ?
Hey I've seen your channel a few times on my feed but it never subscribed before just did and was wondering if it's possible to start a laundromat on a shoestring budget interested in getting a laundromat because of the stability they have was wondering what your thoughts were on that also was wondering how the current economy is affecting your laundromat Etc.
What would you do if the Federal Reserve goes to a cashless economy with the introduction of a CBDC (Central Bank Digital Currency)?
Thanks for the behind-the-scenes look at your business. Besides the revenue, the coin buckets will benefit you via the workout. You'll have guns of steel soon. : )
this is very cool :) I enjoyed this idea a lot :). best of luck and remember wash your cloths :P. it a dirty world out there ~
For decades, a math puzzle has stumped the smartest mathematicians in the world. x3+y3+z3=k, with k being all the numbers from one to 100, is a Diophantine equation, this is also known as math.
Interesting...I have no idea how that equation works. Here's my question...I'm in San Francisco, and it has gotten very difficult for small business owners due to street crime. I want to run a small specialty bar, but can't figure out where a safer place to do this from is...any suggestions?
So did you address whether or not this laundromat is profitable after 3 years?
I've always wanted to do this for silver coins
You had a washer with 2x the quarters than the others. Do you rotate the most used machines to keep wear and tear to a minimum?
Good Question