How Much Does My $15,000 Laundromat Make a Week?
Вставка
- Опубліковано 5 чер 2024
- Hey guys! Its been a while since I updated you on the progress of our laundromat - We've been making TONS of money, but it has come with its own set of problems, ever since we went to being open 24/7.
In today's video I go over the financial situation of the laundromat, as well as the situation with people causing incredible problems at the location.
Give me feedback on the video! We're hoping to release a new video each week, and hope to be of similar quality, but I want to know what you think of the video setup!
Please like & subscribe!
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Want to start a laundromat? Check out my bootcamp : investmentjoytraining.com
Time Stamps
00:00 - Intro
00:18 - Collection 1
01:24 - Washers $$ Count Start
03:25 - Collection 1 $$ Totals
04:50 - Police & Crime Problems
06:52 - Collection 2
07:50 - Robbers......?
08:12 - Second $$$ Count
10:30 - Financial Breakdowns - Розваги
I prefer watching the longer videos like this one. Doesn't have to be a collection video.
Awesome! Great news is my team is working on the next video right now.
Me to need more
@@InvestmentJoy Are you fulfilled by the achievements and would you put an upgrading of some of your facility as a goal in order to increase the income?
Stope hes a a crook he took millions of bitcoin to start this buisness just look up rental starter FBI was notified today... TAKE ALL HIS STUFF
I appreciate the honesty about the expenses. It's not just bling bling look at all these quarters - there are costs too obviously. I am surprised the utilities weren't higher.
I'm in Southern Ohio and generally speaking our utility costs are severely low compared to many other areas of the United States
“That bulge in my pocket isn’t multiple rolls of quarters or dollar bills, it’s something else. They weren’t gonna rob me” hard ass sentence 😭
I find as I speak my mind without fears of demonetization people tend to have more sympathy for me
@@InvestmentJoy real men have the balls to protect their business and family. I applaud you for that!
Glad you're being tough with these bums!
Bless this country for giving people opportunity, these videos are so cool!
It's nice watching other people have similar issues and learning from their mistakes. Great content and congratulations on the success of this location.
Thanks, you too!
Brandon... this is nice. Great, real info. People can learn from this, for sure. Been too long since you posted - already looking forward to the next one.
We have a ton being edited right now
A lot of your videos have been a big driving factor for me in starting the side business. I started a claw machine business here in Ohio and its been a ride. Thanks for your videos! As someone who is doing cash/coin collections now, I can appreciate the part when you were filling the soda machine. I just recently realized I should be more careful and have started bringing my 'quarter rolls' along with me as well.
Great stuff, Sir! As always, informative and entertaining. I’m glad you have the non-money pocket bulge….😄
:D
liked the editing, very informative
First video I have watched in a long time. Thanks
Missed your videos. I enjoy videos where you go around look at property's discuss the plus's and negatives about different opportunity. Always interesting
More of those soon
Derrick with 2 R’s UA-cam channel has a clear understanding of how to repair washers and dryer’s it might help someone you know the basics of repair and save you some money for repairs.
Love your transparency ... hoping you have a great year.
Thank you! You too!
I really liked the financial breakdown at the end when you spoke about your equity.
great content, keep it up!
Thanks for watching!
Dude I found your channel randomly and I’m automatically obsessed!!
Awesome!
@@InvestmentJoy omg you replied I’m a huge fan!
love this video more please :) DONT GIVE UP!!
Welcome back!!!
Thx
Love the music of the coins!!
I've been looking at possibly buying a laundromat near me, the ones that are 24h have an attendant at night between 11 and 7 and that is when they do their wash/dry/fold for the day
Those ones tend to have the absolute best operation model
OMG! UA-cam hasn't sent me any of Investment Joy's videos in years as I almost forgot I'm a long time subscriber. I have some catching up to do.
Thanks for showing us the money cost and made. means a lot to me.
You got me saying “delicious quarters” now lol
Glad I could influence you
Without a head count, daytime hour versus overnight hours, it's nearly impossible to give you a good answer.
An alternative is hiring a janitor that works late hours and can prevent issues.
Good luck.
I don't understand how the money from the quarter machines gets counted as money earned. All the quarter machine is doing is taking that money and giving the person that amount in quarters. If I lived in the area and got $10 in quarters from your machine every day and then left to use it somewhere else, you're not making $70, you're just exchanging that $70 for quarters. The only money you're making is what is coming out of the washers, dryers, vending, and game machines. Unless there is something that I'm completely missing.
I like the breakdown of actual costs and income per day
OK, Big signs advertising 24/7 365 and have a sign inside warning this establishment is monitored with police response and a large badge of the local police. I look forward to expanding the laundromat blowing out that back wall to expand with more dryers and big washers, get rid of that old old washer, get rid of the office and put folding tables there so you can fill in the spots with washers and dryers. Improve road appeal and visibility so people think it is modern and safe, improve airflow and comfort and add some comfortable chairs away from the washers and dryers, you need more laundry carts and variety in the vending machines.
Put a good door closer on the door and add a system that allows them to enter by showing their driver's license, or using someone's remote to buzz them in, sorta like a electric door bell.
Something so satisfying about those delicious quarters!
As an aside, the washateria I used to use had the family running it do all the wash rags for the local car wash and detail shops after 10pm (10pm cut off for last wash) using quarters because they owned the process.
Good video. Altough you're making great money, I'm sure you thought about closing at a certain time to keep the "riff raff" out from causing problems in your laundromat. My question is, what's stopping you from closing at, let's say 8pm Mon-Sun?
Drops income 50%+
Love the video!❤ Are you still looking to open up health clubs/ Gyms ???
I'm still talking about it with my friend Eddie that was in videos years ago it's just we have not got to a point I would say coronavirus is slow down my business plans by a couple years
@InvestmentJoy Yes Corona has set back many people's plans. I've been looking and seen a few prospects around the columbus area that look promising. If interested in talking more I can shoot you my email.
Can you lease all the washers and dryers as well? I have a commercial unit I was thinking about turning into a laundromat but I don’t have all the capital to buy all the equipment. Also do you recommend gas powered dryers instead of electric?
"...it's something else" winning smile.
I have seen a lot of people who are stealing and breaking into a lot of machines and stealing money. Target and Walmart had a lot of situations every year with shoplifters and employees stealing from the store.
Good evening,
I own 4 businesses myself, one of which was passed down through my family. Ive learned amongst my many losses, that not all money, is good money. Some aren’t worth the peace it takes away. In this case, a laundromat business is a very small margin and revenue business, I applaud you for it because I surely don’t know your financial situation, but if possible either fix your business model and operating times, or just get rid of it. I understand how the world works, but having to protect drug addicts from robbing quarters out of my business, surely is not something anyone wants to do. God bless you.
You have to understand I'm at a point my other companies make way more money than this does but this is really great for social media. I really am at a point I want to show the country what it's like to run a business
I have the same issue. Takes a lot of energy to monitor cameras and most of my problems happen after 3am. Have considered closing but we get some big customers at night. I did install some sirens I can set off remotely. That usually runs them off pretty quick
I've got a solid solution to this, I'll be posting when it's done, so be on the look out
I thought about a laundry mat to make extra money but there are always a criminal element just waiting to do something.
It goes to show when you have the right equipment that not old your going to do batter then when the equipment was outdated
Heres a question, how do you differ from the quarters that are used for changed and quarters that are profit?
you should find someone who's willing to work as a bit of a security guard overnight depending on how much that would cost you
I think I do the financial breakdown of such Adventure in the next laundromat update which should be about a month from now we've already shot it it's just the wait for the editor
Our local spot has a code on the door. And only gives it to trusted customers for late night washes
I wish I had the money because I would buy that sucker in a heartbeat. If you were selling it, I have a place to live upstairs and a business downstairs.
Brandon, with your current equipment varying in sizes in this location and your bigger capacity machines being the bigger money makers. Have you thought of just upgrading to the bigger machines across the board? Or do you think that would also cause people to not use them because they cost more per load?
I would like to but the infrastructure is becoming an issue you'll watch in the next video some more issues with having that big washer there. Right now I'm looking at doing another reset of the laundromat
@@InvestmentJoy reset meaning a different layout?
Have you considered controlled access during over night hours like at an ATM booth? Swipe a credit card for entry?
Great point. One of the advantages of having a card system. You can use them to control access.
Depends of 24/7 is costing you more than you make due to damages ,definitely need to keep your hand on your hip with people watching you 😉
Man the laundromat near my apartment complex got robbed luckily owner had insurance for the window damage
If you blow the wall out. Put in more dryers. Put a coin machine that is serviced behind secure doors.
So at 95 dollars would a security guard help.
open from 6 am to 10 pm last wash, and eliminate all the problems.
Incredible, i literally just finished watching all of you’re videos in order from old to new for the second time 🤣 fly me out first class and i’ll kneecap these kids for you mate 👍🏻🤌🏻❤️🇬🇧
I’m building my credit at the moment but I’m planning on getting an SBA loan for $700,000 to put a % of that down on an existing laundromat business and I was wondering, Is there a way that I can hand the seller money through wire transfer or something instead of giving the money upfront in person??
That's the normal process of doing it by wire, Otherwise you could run into significant trouble
It's always so interesting to see how much those collections vary depending on the time of the year - wishing for a continuous growth over the rest of this year!
Thank you for the kind words and for supporting the channel
I have an idea thats out there. Investment joy the videogame. In the game u fix a rundown laundromat and try to make it a running operation.
Not a a bad idea. Expansion pack 1&2 - car washes and vending machines
How much did you pay for the laundromat? And what fix gave you the higher equity?
Nice
The only thing I think I would do differently if I owned it was to put Sol Ark 60 kw model Inverter Charge controllers times two specific model 60K-3P-480V on the laundry mat with two battery banks one for each solar charge controller specifically model L3-HV-60-KWH then use KB solar 450 watt Bifacial panels 144 specifically in a 24 by 6 tall in Parallel groups of 12 So that's 6 Strands per sol ark charge controller. The advantage of this is fixed rating your electricity costs for the future. Solar Ark 60 kw charge controller units are like 20k a piece the Battery Banks are like 30k a piece and the solar panels are 225 dollars a piece if bought in bulk. I get it your looking at a 140,000 dollars but with let's say an 800 dollar a month electric bill puts you at 76,800 every 8 years roughly. By installing electric hot water tanks with the gas tanks you can offset the cost of your gas as well and still revert back to the gas if needed. Long term the batteries are good for 8 years Sol Ark charge controllers are warrantied I believe up to 10 years. KB solar is manufactured here in the USA so its got a 12 year product guarantee and a 30-year performance guarantee. So sure at the moment it's about a wash for the price but if electricity costs go up past $0.30kwh your really going to want this kind of cost offset to be able to keep your priceses low enough but yet make better profit margins in the 10 year business span. Another add on you could do is twin 60 kw diesel generators and with sol ark they will auto start and stop to charge up the batteries allowing you to never rely on the grid. Basically they have their own control module that can measure the batteries etc. But this conversation is only about the future not necessarily for the right this second. I still hope that we will be building enough Nuclear Power plants to keep the grid price cheap enough for the future.
I'm not opposed to solar, would be opposed to a battery system, won't ever pay itself vs a grid tie
@InvestmentJoy yeah, bateries are expensive.. But the numbers really make it difficult for both selling back to the grid and taking advantage of the panels abilities..
@InvestmentJoy to be honest, I am still hopeful that nuclear power facilities will help before we get to this...
Seems like a lot of work and headaches to be netting $95 a day. I know there is good equity being made as well, but from a cashflow basis, seems tight. People say hire a guard, well that would eat up that $95 right there.
You might wanna have a guard there at night if you want to stay open 24 hours a day take care of the riffraff because they’re always there. You try to do something nice for somebody and somebody else has screwed up.
Do the banks take all those unrolled quarters, or do you have a machine that rolls them?
I work with both
How are things going on your other laundromat
I am curious on why you still use cash for your laundromat? Granted. I live in a country where more and more people are abandoning cash, and the volume of cash in circulation has fallen heavily over the last ten years compared with other countries. I have not seen a vending machines that accepts cash for quite a few years. So I might be the odd one here. But still. During my last trips to the US I never paid with cash in bars and supermarkets for instance.
You still never got the the footpath weeded and the facade of the building clean could potentially bring more people in cleaner outside more presentable
Did u find help in Chicago area I live in Rockford if that helps
I keep feeling like count one or the other… if you want to know what your machines are doing, you need to scan those machines. If you only count coins into the bulk and the bills coming in, your limited. Ehhh, you WILL find a solution if you spend time thinking.
Nothing mean about it. It's a business. Our local 24 hour had the same problem, so they switched to 6am to 9pm, doors locked at 10pm.
Damn i should start one nowni guess 😭
What’s your next steps?
I'm confused where the $15,000 number came from , in your title? I might have missed it, tried to find it. A $15k Laundromat would be super cheap
It was $15k down
@@InvestmentJoy Oh nice!
you should buy some more snacks for the vending machine
do you need permits/licenses to open a laundromat?
Depends on the area. Some require licenses or permits and some don't.
Check with the local municipalities where you want to open the store.
You could hire private security guards for the nights
Lots of criminal jerks in society that do nothing but cause trouble.
i think the weighing method for coins is way more efficient
@investmentjoy I’d be very interested to see a breakdown of how much extra revenue you get by being open 24/7.
With all of the criminal activity you showed in the security footage, I wouldn’t be open 24/7.
It’s unfortunate, because there are shift workers out there who need clean clothes just like everyone else but have to wash at 2am because that’s the schedule they were dealt.
It’s just too much of a liability in my opinion with all of the users and addicts squatting in there overnight.
do weekends tend to be better then weekdays?
Yep
How did you buy that for 15k? You bought it from someone else?
Can you use credit cards?
I live in Columbus ohio and i think i wanna get a laundromat one day. I'll be contacting u first to get ur insight
maybe hire a person to work overnight sounds like a easy choice but you don't want to pay a person
I say hire someone to babysit your laundromat so your customers feel safe.
I guess the question comes down to: are you making enough overnight to justify the costs of staying open. Not just making profit, but *enough* profit to make it worth the headache
Would hire if you have one in your age a security company do frequent patrols to your laundry facilities stays open 24/7
Nope, would make me bankrupt
This is one of the good things about Ohio. You can carry that thing in your pocket to defend yourself and your business, and without a permit like our founding fathers intended
Maybe hire a trusted private security for those over night shifts? I say trusted cause most of the security places hire anyone that will wear a shirt and be a body. But that body is known to inform others about the business.
Put a camera right infront of the change machine
Hey 👋
How much money my laundromat launders. 😂
For the people that want to know he got robbed 7 times loosing 40,000 dollars in revenue
You're like mrbeast but you post videos about you earning your money🤑
Are you making money overnight to make it worth staying open? It's probably not worth the stress in keeping it open overnight.
Maybe you could hire a security guard for the nights.
8 20 pound washers and only ONE 60? You're doing it wrong. Get rid of 4-5 of those 20 pounders and replace then with 2-3 more 60s. People need them for big blankets and things like that.
I think I go into better detail on the next video but this is what the manufacturer told me was needed and this was 4 years ago and I felt like I could trust them I have since learned not to trust them
How many hours a week does this business require of your time?
how are the car washes doing?
Good, will do an update in about 3wks
I use a laudromat😊
Is ACE hardware a partner?
I wish....... Do you hear that ACE?
i would lock the door when you collect money. becareful many more crimes out there
It’s bad enough that they sleep in there if they are homeless. But the alcohol and drugs is the part that’s just not right.
puking out quarters..?