Excellent story, but PLEASE stop talking while your guest is talking. It’s annoying to hear you over talk your guest. Replay and see what I’m talking about.
One reason I love laundromats even when I have a washer and dryer downstairs at the apartment complex is you get it done in One hour instead of 3-4hrs.
I have a washer and dryer in my apartment complex and it doesn't take me that long. Are you saying the washer cycle and dryer cycle downstairs at your apartment complex takes too long vs a laundromat? Or are you waiting on machines because other people are using them in your apartment complex? Anyone who reads this, help me out here.
I came across this video by accident and Im blown away by this business owners knowledge and passion for the laundry business. He's honest, transparent and a people person, a rare business owner. Great video!
I find most business owners love to share their experience. Most owners feel they are so obsessively focused on their business they are trained to not want to bore people with it.
@@LaundromatMillionaire I’m sorry you felt embarrassed. Working 90-100 hrs a week sounds like survival mode for your family. That is honorable and I’m happy that you have set your self up to not have to continue at that rate. Wishing you continued success. ❤🎉
This is such an admirable story and incredible business. THANK YOU SO MUCH for sharing your story 🙏🏾👑👑 king of the laundry SERVICE business! @@LaundromatMillionaire
👀 Currently pushing out 100+hrs a week, every week. It's been about 3yrs now. I'm nearly at the finish line. Watching this video has been inspiring & confirmation that I'm on the right track. Congrats on your success man. Super happy for you.
@@RajKannu-qz5udthe guy in the video literally says himself he didnt see his family in the beginning cause he worked 90-100+ hrs a week. so watch the video if you wanna know so bad.
@@TheeOne4.44People are bringing their kids to the laundromat anyway. It’s awesome that they have a designated area where kids can be entertained rather than having bored kids running around the whole time while their parents yell at them to sit down.
This is a well planned out laudromat business. Adding the PICKUP and DELIVERY services is what's making his business successful. And now including a course and "advertising" on Upflip, this guy is not dumb. It shows that college isn't for everyone, or even necessary in certain cases. If existing low profit laundromats added this service, this gentleman wouldn't be buying their business out. Try to even contract out the pickup and delivery service to a local so you don't have to buy vans, drivers, and insurance - the contractor uses their own vehicle. All the contractor does is bring the clothes to your facility and delivers them back to the customer. Tip: Instead of hiring full-time employees to wash clothes, use a couple of temp agencies and have temp employees on a long-term basis - there's no overhead for you, the owner. You're welcome. 🎉
you have some very good ideas business wise only part im not fully on is the temp thing because in this day and age you want good people to get paid good salaries as well and temps typically get the short end of the stick work wise...in my opinion
Temp agencies don't gurantee employment attendance all the time and that would be a risk for him and he didnt become successful doing things day in and day out. Poor suggestion there bud.
I've been using a laundromat 1x per week for the last 8 years. I rent a room in a home w/ washer and dryer. The logistics - figuring out who's doing what w/ the machines, plus mechanical break downs left me frustrated. I solved all problems laundry by using a laundromat. I get a week's worth of laundry done, grocery shopping, mail pick up at my post office box, my nails done, visit the library, get my taxes done (the laundromat's in a neighborhood shopping center) in under four hours for under $20. It's nice to say I'm not stepping on machine user toes, or personal items here at home -- period. Love the laundromat.
As someone who lives in NYC, I agree that this type of business will only continue to grow. My building didn’t have laundry when I first moved in. The ONLY option was drop off/pickup - which resulted in leaving laundry bags outside our apt door for a 8PM-midnight pickup window once a week. Even AFTER the landlords provided laundry to apt residents - most people still preferred the laundry pick up service. WHY? It was the easiest way to get your laundry done. Spending zero time in laundry room, no worries about waiting for a machine to open up - and no need to fold your laundry. Totally LOVE laundry delivery services!!
I wish you had asked about taxes, insurance, waterbill, and ither utilities. Do they recycle water, the cost and business contact. Plz create a part 2.😁
Look at my analysis. First, just divide 40 persons into $1,800,000 and tell me how much revenue each employee generates GROSS REVENUE. Then respond with a detailed eye from there.
This is the kind of guy you wanna work with! He's got clear cut objectives! He knows what he wants and truly has what it takes to become a successful entrepreneur. Not your typical armchair boss😅 And I admire his forward-thinking approach to this type of business. He really understands innovation - and competition. It's really hard to relax when each day you see there's an improvement elsewhere. You really have to keep up or one-up the competition.
His gross revenue per employee is $45k/yr. Why do you want to work for anyone what attempts to pay you, AND operate a business, and starts with $45k? Describe how YOU can make $35k/yr from that revenue stream?
One of the most interesting businessmen on this platform. I enjoyed listening to him; he was very open and knowledgeable about the business. I loved his enthusiasm and passion for the laundry business. Great interview!
It would be interesting to know how they mitigate issues with pests, etc that come in on people's dirty laundry such as: lice, bedbugs etc. Great video! This guy is smart.
I LIKE THIS DUDE. REMINDS ME OF MYSELF. ALL MY COWORKERS CALLED ME CRAZY FOR WORKING SO MUCH OVERTIME. EVEN ON MY TWO DAYS OFF I WOULD DO 32 HRS OF OT. BOUGHT MY HOUSE IN CASH OUTRIGHT. BRAND NEW 2023 HOUSE WHILE UNEMPLOYED. NOW EMPLOYED AGAIN AND GRINDING WITH HARD WORK. NOTHING COMES EASY. I STILL DRIVE MY 2007 HHR CHEVROLET. MY 2023 NEW HOUSE SPEAKS FOR ME DAILY
@@UpFlip THANK YOU. YOURE A BEAST. ONLY WAY TO BE FINANCIALLY STABLE AND GROW IS THROUGH MERE SACRIFICE. YOU DID IT FOR YOUR FAMILY. THATS COMMENDABLE BY ITSELF
When I read your comments …it reminded me of my mother. She toiled soooo hard, I learnt work ethics from her. As a young mother, she watched me working , studying at nights, looking after my family of two very young kids, working a corporate job at 60 hr week, no OT because I worked in accounting…they didn’t pay OT…she was very worried about me and asked me to slow down. I looked at her and said you never slowed down when you were my age …what’s your concern? She said I worked harder than her. She knew I only slept on average 4-5 hrs max per day, and that is very bad she said. Fast forward many years , I am reaping the fruits of my labour. Now…I see my adult children working very hard to create their own wealth. Children learn how to sacrifice when they witness their parents build something for the family. They can’t marry lazy spouses …they know it will kill the marriage . Love never overcomes these traits, it’s a battle you don’t want on a daily basis. It breaks your spirits. My grandfather was an immigrant who didn’t speak English when he arrived…. He said, You have to outwork your peers as a girl of immigrants as well as be wise about money. Then one day you will believe it is possible because you also made the sacrifices to have less bling and more money saved. I honour my parents and grandparents by ensuring my children replicate all I was taught. It’s not easy when their friends don’t do it …but they have courage and say No when it’s distracting them from their ultra goals. They got their priorities right. Diamonds are not a girl’s best friend ….. nope ! Wealth in cold cash is along with great family relationships and few solid friends who have your back! LOL This laundry mart owner has the will power and discipline to do whatever it takes to make his magic happen. Great video telling his life story!
@@brigittelee9730 IN 4 YEARS, I WILL BUY MY NEXT PROPERTY IN CASH OUTRIGHT, I SET A CHECKING ACCOUNT ON WORK DEPOSITS THAT DON'T GET TOUCHED AT ALL, IT ALL GOES IN , NOTHING COMES OUT AND I PAY MY BILLS WITH THE OTHER ACCOUNT. YES I PRIORITIZE HEALTH AS WELL, MY THUMBNAIL BICEP IS REAL AT 49 YRS OLD NATTY
I can’t wash downstairs in my building I saw a tenant wash a blanket with lumps of dog poop on it and our dryers are filled with dog hair,where I go is a laundromat that is so clean and well maintained ,I am an extremely clean person
If you’re dealing with issues at your building, maybe bringing it up with the management could help address these concerns. Thanks for sharing your experience! 🙏
The one thing I took away from this is that you don't need to be in tech or have the newest idea to be an entrepreneur. You can take what worked previously, see how people are failing at doing it, improve it and modernize it in the process to get the business going. Of course, the amount of effort and time that the owner spent in this is insane and I'm just now realizing that maybe if you have a good high paying job (surgeons, data analysts, senior developers, airplane captains, etc.) then it might be not the best to go for a business and just stay on the job long term, less hassle and more free time that way since you don't have to be on call 24/7 in case something breaks or needs crew. But it's still very tempting to see whether you have enough capital to go for a business and build it from the ground up, there's just something there tempting you to go for it and I think that the rewards can be great but sometimes the cost of it (less time with family and leisure) can be much more costly than you think it is.
The Hydro equipment not only saves the customer a trip to the store for product they have to lug along with their laundry, it’ll save the operator in dumpster waste costs. Trash receptacles on the floor need to be emptied less, saving on trash bag costs and increasing labor efficiencies. Lots of time/cost savings for the facility and the customer!
I use a Laundromat every two weeks for my work laundry, I have a cleaning company, and I think about running a Laundromat ALL. THE. TIME. this is great info
you know?? this person made me emotional. His passion, his big level of integrity, his emotional maturity, his intelligence, his heart... wow this is a real entrepreneur! chapeau
He's correct....my washer broke and I needed to do laundry....luckily, we have a nice, clean (super clean bathroom), modernized laundromat 2 miles away.
Glad to hear you had a reliable and clean laundromat nearby when you needed it! It’s always great to have a well-maintained option just around the corner. 🙌
Makes since, I would provide a service to pick up customers to do their laundry, something like Uber, Lyft, since I would have my own vehicles for pick up and drop off services. Cant wait to get started creating jobs...
His experience speaks volumes and often provides practical knowledge that’s just as valuable as any formal education. His hands-on learning is truly impressive! 🫡
Awesome video. I would love to connect with this guy and get as much knowledge as I can and open me up a Laundry Business. Salute to him and his family.
Great job! We need more people like you to help the community, instead of just making huge profits for ourselves, being selfish. Let’s continue to build America, so we can all at least live a more comfortable life, we deserve.
I had an idea for a Laundry mat that I was thinking of implementing that I thought was very good. I haven't done any research (or even attempted to), but stumbled across this video. Awesome ideas in this video, some stuff I thought nobody was doing, some stuff I didn't think of doing. This inspired me to try it out.
That’s fantastic to hear! Glad you found some great takeaways and that it’s motivated you to explore your laundromat idea further. Best of luck with your venture-can’t wait to hear how it goes! 🚀
Very good video! Owning a business is not for the faint of heart but is so rewarding. As to why some people would use a laundromat in this day and age, it varies. I knew a lady who lived in a shared laundry building and would spent 5 dollars to bleach and sanitize the machines before she would wash her clothes (due to the hygiene of some other tenants)so a super clean business like this would have gotten all of her business!
You’re absolutely right-owning a business requires a lot of courage and dedication, but it can be incredibly rewarding. Thanks for sharing this insight! 🙏
I'd like to know how we get the detergent, softner, etc, to operate the business. Are there companies who manufacture it, and do those companies sell overseas? Thanks.
Great question! Yes, there are companies that specialize in manufacturing detergent, softener, and other laundry supplies, and many of them do offer international shipping. It's worth reaching out to suppliers to discuss options for sourcing these products for your business. 🌍
Very inspiring. I'm 60 and still working and this got me thinking. Anyway, Im not a fan of others doing my laundry. If i drop something on the floor, it goes into the dirty pile. I never let sheets or towels touch the floor when folding. Ive seen people folding sheets with one end on the floor and over their feet. 🤢 I doubt any laundromat employee is this conscience.
On a smaller scale, I have installed many automatic laundry, chemical injection systems in laundry mats. The owners would have one or two of their 60 pounders set aside for wash dry fold used by their attendant. It’s awesome to see this laundramat! Awesome video!
This guy would be successful in any business. Good personality great attitude and work ethics and hunger for knowledge...definitely shark tank material. All the best
I found this channel a few days ago and I have watched multiple videos. Is getting one of my favorites and frustrating podcast. Just thinking why in the world I didn’t start a business when I was younger. Now I am 40 and I would like to start a business but I don’t know where I can start or what I can do.
It's never too late. We're about to release an assessment test that will help you discover which business you're truly suited for, based on your passion, skills, and talents.
In my community, most of the laundromats have gone out of business, one that is brand new is not profitable and the owner is selling it at a loss. There are few areas a laundromat will work, only locations slightly above the poverty level. Laundromats will not work in very low income areas, middle-class neighborhoods or premium neighborhoods.
Experienced direct injection laundry while visiting another country. Had to re-wash everything because it smelled horrible ‼️ Unless you have brand backing from well known detergent manufacturers, there’s a trust issue here.
I have owned a bunch back in the day and a good experience plus all cash and no receivables. Among the biggest problems in the biz are equipment distributors pushing turn key stores instead of just selling machines. This means if you have a good business they will be eyeballing your market. So make sure the area has limited utility or land possibilities for a new store which will poach customers.
I wonder how they keep track of who's laundry is whoms because doing other people's laundry, and I'd imagine hundreds of loads a day would not only be confusing but also cause liability if you lose it.
I used to own a dry cleaner ( in the suburbs of Cincinnati) so I used a tagging system. Im pretty sure they use a similar system. My staff and I would write items down in a book along with a printed receipt.
When in the biz I used to let the counter staff do wash dry fold as their own enterprise and profit center. I wanted nothing to do with drop off because the machines did plenty. I had next to zero turnover in staff.
Moral of the story: Have a day job & work 90-100 hours a week ….. Save up at least $30,000 over the course of 4 years ……. Deposit $10,000 of your personal money as start up costs… Have a personal credit score of at least 640 so you can qualify for an SBA loan……
He right about optimization. I go to the laundry mat I do because I can add extra wash and rinse cycles... for more money of course. I watched this just because I thought it might be interesting. It never ceases to amaze me how someone's love for what they do can make almost anything interesting.
This is fantastic information. I feel like I'm drinking from a firehouse and I'm only about 18 minutes into the video. Laundry is an industry I've been considering and so far this has been AMAZING information.
Into the world of marriage ( decades back ) that was the (plain B.) lawndrymat and a carwash...in the area's that needed them ,could aford them and water in those allows were free( back then ). Did get to start my own cleaning Business much later down that road ❗
I saw a new Laundromat crop up near LVU.... And it was state-of-the-art like you've never seen! I brought a load just to try it out..... Absolutely fabulous. Mind you, i did have to clean out the detergent drawer, because when customers unwittingly add too much softener it becomes a gloopy mess that NEEDS TO BE CLEANED OUT. Otherwise, the cleanest facility I've ever seen. When are these laundromats coming to CA?!?
Fun to watch. I live in a country where laundromats are very rare, there are basically none. This is because most apartment buildings have communal laundry rooms. If you don't have access to one, you probably own a washing machine and have it in your home. However, there are dry cleaners everywhere. But it is not quite the same as this market. End of story-time.
It was a lot more easier 15 years ago and longer to make good bucks. Provide a bright clean store with plenty of machines fast drying time and good washing machines. No extras needed nor 10 employees to operate a store to get 50% EBITA.
I have my own brand new washer & dryer but still look for a good laundromat where I can take my floor rugs, comforters and big ole' dog bed. I will drive across town to visit one that it clean and well maintained. A laundromat like this one would be awesome.
Could anyone explain, how this is a business idea, everyone has a washing machine at home. what is the point of running the business with huge upfront costs including employees and pick up and drop service? who will use the service?
$3.00 for top loader. $6.00 for a triple loader? $2.00 for a couple of squirts deterrent, $10.00 for a bedding dry ? Discussed profit margins net or EBITA?
I'm obessessed with the laundry business. What's wrong with that? You're good at something, you serve your community and you are providing for your family and employees that is not a bad life right there.
