Great work! It’s all about the journey and you’ve done well to recognise the right time you want to sell and to act on that. It’s important to be dynamic in life and business. I appreciate your honest content on laundromats.
Great video and content. I love the format, simple and transparent, you’re not selling anything. Earned yourself a sub. Can you make more videos about the numbers? Taking us from start to finish on the numbers for your laundromat experience would be so helpful. I’m currently where you were, burnt out and unmotivated to continue working in corporate but I’m worried about making the wrong move. I’m stuck between real estate, laundromat, or an online/ecom business right now. Thank you in advance!
Great video, I would just like to add that it’s important to keep perspective on the type of business experience you have. Laundromats tend to be known as a low risk, high success rate business (not to take anything away from your experience) but a lot of businesses have low success rates and a lot of volatility (like a restaurant for example). Just make sure you’re very educated on the risks before jumping into a totally different style business.
Absolutely! It's really important to assess your own experiences and skillsets and determine the business that you're going to be best suited to operating.
Everyone has a # that can move their position on something. Question to ask you is…did the buyer approach you or the other way around? Commuting from Oakland to SF and working as we saw in your original video can be a “grind” - flexible definition of that word depending on who you are. You also have martial arts on the side as well, personal goals/interests to achieve before possibly starting a family. The last Q I’d have is SF as a home or area to settle in. Any hesitation on that city, based on current socioeconomic climate and leadership direction there? Appreciate your videos the time you spent doing so, these are helpful and exactly what UA-cam is for. Kudos!
Thanks for commenting! We posted an ad for our laundromat, and that's how the buyer found us. Although we did have someone reach out before we had posted an ad to discuss a possible sale. Yes, the commute was really tough at times! Especially when issues came up unexpectedly. There's a lot I love about San Francisco, but my husband and I just decided it didn't make sense to move there. It was more of a personal decision about where we want to live than a decision about where we want to run a business. Housing is expensive and finding a place with two parking spots is nearly impossible. 🤣
At the end of the day you have to do what's right for you but if a laundromat is too hands on for you - which is one of the most hands off types of businesses out there - I can't imagine owning a bigger business is going to take LESS of your time. Sounds like investing in stocks or angel investing is going to give you what you want - provided you have a large amount of capital.
Thanks for commenting! I agree that owning a larger business is going to take up more of my time than owning a laundromat. And I agree that laundromats are more hands off than many other types of businesses. But laundromats still require regular attention, especially when you have a wash & fold service. It may not actually require that many hours in a week, but those hours can happen unexpectedly and at unideal times (an employee calls out last minute, or a customer calls in the evening to let you know a machine is leaking). Larger businesses are still work for the owner, but the work often looks different than in smaller businesses. One of the big challenges I had with my laundromat is that there was really no way for both my husband and I to travel internationally at the same time. And that was one of the reasons we sold it-we want more flexibility to travel before we settle down and start a family. With only one laundromat, we didn’t have the cash flow to afford a manager, and there could have been a lot of problems if there wasn’t someone close by and on call to fix problems. With a larger business, there are usually more layers of employees between the owner and the actual labor. I love to work, and I plan to work plenty when I buy my next business. But I plan to buy a business with a management team in place so that I’m not required on the ground so much, such as being the one who has to go cover a shift if an employee calls out. I’ll also wait to buy my next business during a period of my life when I’m ready to be more settled down and am willing to spend at least the first few months being deeply involved in the day to day to make sure I intimately understand operations.
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Great work! It’s all about the journey and you’ve done well to recognise the right time you want to sell and to act on that. It’s important to be dynamic in life and business. I appreciate your honest content on laundromats.
Great video and content. I love the format, simple and transparent, you’re not selling anything. Earned yourself a sub. Can you make more videos about the numbers? Taking us from start to finish on the numbers for your laundromat experience would be so helpful. I’m currently where you were, burnt out and unmotivated to continue working in corporate but I’m worried about making the wrong move. I’m stuck between real estate, laundromat, or an online/ecom business right now. Thank you in advance!
Great video, I would just like to add that it’s important to keep perspective on the type of business experience you have. Laundromats tend to be known as a low risk, high success rate business (not to take anything away from your experience) but a lot of businesses have low success rates and a lot of volatility (like a restaurant for example). Just make sure you’re very educated on the risks before jumping into a totally different style business.
Absolutely! It's really important to assess your own experiences and skillsets and determine the business that you're going to be best suited to operating.
Thank you so much! Out of all laundromat videos you were the best one of all❤
I really appreciate that! Feel free to let me know what other content you’d like to see. 😊
Everyone has a # that can move their position on something. Question to ask you is…did the buyer approach you or the other way around? Commuting from Oakland to SF and working as we saw in your original video can be a “grind” - flexible definition of that word depending on who you are. You also have martial arts on the side as well, personal goals/interests to achieve before possibly starting a family. The last Q I’d have is SF as a home or area to settle in. Any hesitation on that city, based on current socioeconomic climate and leadership direction there? Appreciate your videos the time you spent doing so, these are helpful and exactly what UA-cam is for. Kudos!
Thanks for commenting! We posted an ad for our laundromat, and that's how the buyer found us. Although we did have someone reach out before we had posted an ad to discuss a possible sale.
Yes, the commute was really tough at times! Especially when issues came up unexpectedly.
There's a lot I love about San Francisco, but my husband and I just decided it didn't make sense to move there. It was more of a personal decision about where we want to live than a decision about where we want to run a business. Housing is expensive and finding a place with two parking spots is nearly impossible. 🤣
Appreciate the honest reply. There is a lot of “pie in the sky” being pushed about this business, so refreshing to hear your perspective. Thank you.
Congrats! You seemed intrigued about franchises in a previous video. I’m excited to follow your journey!
Thank you for your insights and recent conversation!
At the end of the day you have to do what's right for you but if a laundromat is too hands on for you - which is one of the most hands off types of businesses out there - I can't imagine owning a bigger business is going to take LESS of your time. Sounds like investing in stocks or angel investing is going to give you what you want - provided you have a large amount of capital.
Thanks for commenting! I agree that owning a larger business is going to take up more of my time than owning a laundromat. And I agree that laundromats are more hands off than many other types of businesses. But laundromats still require regular attention, especially when you have a wash & fold service. It may not actually require that many hours in a week, but those hours can happen unexpectedly and at unideal times (an employee calls out last minute, or a customer calls in the evening to let you know a machine is leaking).
Larger businesses are still work for the owner, but the work often looks different than in smaller businesses. One of the big challenges I had with my laundromat is that there was really no way for both my husband and I to travel internationally at the same time. And that was one of the reasons we sold it-we want more flexibility to travel before we settle down and start a family.
With only one laundromat, we didn’t have the cash flow to afford a manager, and there could have been a lot of problems if there wasn’t someone close by and on call to fix problems. With a larger business, there are usually more layers of employees between the owner and the actual labor. I love to work, and I plan to work plenty when I buy my next business. But I plan to buy a business with a management team in place so that I’m not required on the ground so much, such as being the one who has to go cover a shift if an employee calls out.
I’ll also wait to buy my next business during a period of my life when I’m ready to be more settled down and am willing to spend at least the first few months being deeply involved in the day to day to make sure I intimately understand operations.
You gave up? Right? Was it profitable as a Laundromat owner?
I decided it was a good time to sell. Yes, it was profitable.
Great video! Not enough content in this space..subbed! A part from Carl Allen and Codie Sanchez..and they are selling courses..