Why had nobody asked how this is a story I would like to know HOW? Please tell it's part of your life and important. And I believe not to just you Edit is : has ,as in why has not had touch screens happen.
For my work I had to watch videos on good customer service "techniques" and you doing the coke thing and free quarters really goes a long way. It's a small loss but if you can retain clientele this way, you'll make even more!
These videos are surprisingly wholesome. The way you speak to customers & speak in general contributes to a warm atmosphere! (I am seriously considering opening a Laundromat all the way here in UK!)
If you can help that guy out, that is the greatest joy of being an investor. Helping people out is where you make the $, just problem solving. Made me happy to see this. People often hate on Investors and Business people, without looking at the problems they solve and the way they help people.
Consider contracting with a vending guy for %. Have him install a combination merch/beverege machine including convenience store items? It seems that your laundromats in a food desert. I'm thinking that if you had Hot pockets, burritos, milk, juices and other things Not only would your vending revenue go up but it might be a traffic builder for the laundry. I would be tempted to do it myself if I were the laundry operator but in order to have fresh items in the vending machine it really takes a vending route to spread that stuff around and not have inventory go bad. Besides who needs more work to do?
Great video, Brandon. I think the reason I like your videos so much is because I can see myself doing a lot of the same types of things. I’m your 2nd place Black Friday winner. I’m excited to talk to your team.
for getting your counts quickly, you need a counting scale. put the bucket on and zero. put in 20-50 mixed era quarters and punch in the quantity value. now you can rapid fire count. we counted multiple stores inventory and drawers like this every other night.
i started watching you 3 yrs ago and I remember wen you didn't have too many followers but you were growing- came back after a long time and so happy to see your channel at 1.6 million!!! Well deserved !
2000 Sac dollars are called Cheerios Dollars and in mint condition as much as $5000. Other than that they are in the hundreds of dollars range. They were put in boxes of cereal to promote the new dollar. If the eagle has defined tail feathers, you have one. Only 5500 were minted. Only a few hundred have been found.
I lived in Minnesota back in the 80s-90s. Moved back home to Norway now. I haven't been back since but when I left in 96, it was only $0.45 for a can of pop from a vending machine. I was shocked that they now cost $1.50. Knowing how terrible the minimum wage is, (less than $20 an hour) I'm surprised that people can even afford to pay that for a can.
In the Philadelphia area the cheapest can of soda from a machine I can find is 75¢ ($1.00 average), looks like the Pepsi machine is filled with bottles. $1.50 for a bottle isn't that bad considering that the average in my area is $2.00.
Brandon if I'm not mistaken SS,, SSI, and SSDI recipients get paid on a Wednesday during the month. Depending on I think your name or SS number is what dictates which Wednesday. I know for sure SSDI works that way.
I work as an intern at our local department. For our state recurring SSDI benefits are on four days throughout the month. The 3rd of the month and on the second, third and fourth Wednesdays of the month. The caseload was too much so, I became an educator instead while building my portfolio.
If I was the kid upstairs dad I would buy loads bits from the vending machine with nickels and get him to resell them to his friends even if he sold at a loss it wouldn't matter as he gets the nickels back anyway effectively getting free stock to sell for pure profit. Start him young on the way to business life
It took decades, but our place FINALLY got upgrade to card laundry machines, and a card scanner, to put money on the cards digitally. The matching app that shows which machines are in use WITH the timing left on them LIVE, are a god send to say the least!
I have, the cost right now would be like $12k to do the laundromat with cards which is high. Trying to work a deal with a company to let me test their equipment on the channel.
@@InvestmentJoy OH!! I forgot to mention! Our cards START at a bare minimum of $10 per customer when loading them. So the bulk of the investment would be instantly returned with every card loaded. So, you would need 1200 customers to get your $12K back or half 600 if they do $20. Even if you stretch that out to year or so, the matching software app convince makes it a quick sell. Every card has a unique code that you use to login online, to check your balance remaining.
Definitely seems from the 4-5 replies that this would be a worthy investment even if you get quarters from a debit card. Especially if you can get a discount for the initial installation and equipment
I wasn’t! The guy for investment Joy got somebody to give him the laundromat at a reasonable price or let’s see a trailer park at a reasonable price and he built it from there he got help that’s all I’m saying don’t get panties in a twist people
Sorry if I missed it, but it would be much more helpful to see not only the income but also what you pay in mortgage, interest, taxes, insurance, maintenance, depreciation, and utilities for the same time period. Just hearing $132,000 isn't very helpful.
“ I trust you , you look like good people” that was mad weird you dont need to say that . I would say “id like to help you and help your family have a great week! “ “Thank you ill see you soon”
Question, wouldn't it be a lot more efficient to put credit card readers on all the machines, then replace the quarter machines with other revenue streams? I'd do a poll first for your clients to see if they would be ok with that change.
I go to a laundromat like that. It is on a card system, almost like a library card where you put money on it to scan the washers and dryers. You can also have an app that tells you how much money your card has and you get notifications when the washers are done. But if you have quarters there's also a slot for it. And that's the kind of laundromat I want to run.
That $2 Bill looked nice and flat then that dude folded it AND creased it! It could have been worth more than $2 dude… but I guess $2 is better than nothing.
@@louiee4837 Technically all the quarters are recirculated. Well most of them. You change your cash to coins then use the coins in the machines, then he empties the machines back into the bill changer.
How the f does a bank run out of quarters? That's like the House of Pancakes running out of syrup. I hope you're smart and sell them each $10 roll for $12.50. I would. I definitely wouldn't sell the bank a $10 roll for $10.
Hey man, really random but (including me) a lot of people get irritated when they only hear things out of one ear. I mean, I absolutely love the content and you as a channel, but I don't know if that's a post thing but it just hurts.
i know you weight the giant buckets to figure out how much everything brought in, but if you were wanting to do an individual washers total, then getting a cheap 12 lb digital scale from wal-mart would be better than guessing on a "volume" of quarters.
We address this in a future video via bluetooth scale. One of the guy just records the numbers as they dump into the bucket-on-a-scale and we're good to go.
I work in a laundromat. We have a person on duty from open to close. So we do wash, dry, folds while we're there. How do you do it if you don't have someone working? Please let me know. I want to take your course on how to open a laundromat of my own. So please let me know how you're doing a drop off service without a worker to do it. Thanks
@@InvestmentJoy hey Brandon, please can you also remind us how much capital you needed (especially the cost of the machines and installing them... the rest of the capital is easy to estimate, and is dependent on premises location, and how you decorate the place, which is variable and up to a new business owner.)
@@JJ-gq6sf out of pocket was near zero for the first 2 years. On the equipment loan of $95k, plus infrastructure (plumbing and electrical) I paid $2,997 in loan costs, from laundromat cashflow. To purchase the laundromat it was $85k, with $70k as seller finance. Used hard money at a pretty reasonable rate (considering current rates) to loan 100% of the money down, plus another $25k in initial rehab money.
