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STOP! You MUST do these 3 things BEFORE you buy a laundromat!

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If you're thinking about buying a laundromat, you have to watch this video first! Laundromats can provide you with an unparalleled cash flow return on your investment with minimal time commitment. They are one of the best investments that you can make!
Get the FREE e-book, The Keys to Buying Your First Laundromat here: laundromatreso...
But before you buy a laundromat, there are 3 crucial things you HAVE to do first! This video is packed full of information and resources to ensure you make the right investment for you and get what you're paying for. Don't miss it!
Resources referenced in this video:
Question (leave a comment below): What is your biggest question about laundromat ownership?
Buying A Laundromat
Here are 3 ways that you can get a laundromat for FREE!
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Here are 9 different strategies for financing a laundromat purchase!
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Here are some of the true expenses to expect when purchasing a laundromat.
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Help buying a laundromat
If you want to talk with Jordan (from the video) and ask your questions about laundromat ownership in person!
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If you're interested in buying a laundromat!
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If you have a laundromat to sell!
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Free resources
If you want the free e-book, The Keys to Buying Your First Laundromat
laundromatreso...
Downloadable resources
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Free value add checklist (direct download link)
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Infographic on the 4 questions to answer during due diligence (share it!)
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If you want to be a guest on the Laundromat Resource Podcast
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Опубликовано:

19 авг 2024

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Комментарии : 317

@manilamartin1001 2 года назад

I used to also fix my equipment. I think it saves a little money. Most of the time it's just a small fix. I don't do the big jobs though. I ended up making a lot of friends at my laundromats as well because I spent a lot of time there. I usually just read a book when I hang out there. Thanks for being truthful about how much money it actually takes. I bought a laundromat for $500k then spent another $40k to get it going.

@LaundromatMillionaire 3 года назад

Preparation is often the key to success. Opportunities are everywhere but we miss them if we aren't prepared. ✈️

@LaundromatResource 3 года назад

🙌🏼

@femalafleming2405 3 года назад

I’m wondering how to determine & evaluate a laundromat to determine the correct purchase cost?

@LaundromatResource 3 года назад

We have a free tool on our site to help analyze deals, but I'll make a video on it, too!

@elishadrake2404 Год назад

@@LaundromatResource how do I find this? Where do I find the Brokers that you have that are trustworthy? Thanks in advance

@natashawilliams4926 Год назад

@@LaundromatResource I can’t find this resource on your site

@theonlyalexoliveira Год назад

Their tool is legitimately amazing and they’re doing some of the best work in the new owner education that im seeing anywhere

@AneciaSmith-mm6lo 2 месяца назад

You can do creative financing like have them sign their deed over to you using a title company like American Title.

@phichi5488 3 года назад

Is it worth even having a bathroom if you don't have employees? Starting my investigation into is this the right business for me. Your channel has been very helpful.

@LaundromatResource 3 года назад

It depends on the location really. I did end up shutting the bathroom down in one of my locations. But there are other bathrooms available in the shopping center, too.

@LouisFPak 3 года назад

Can a COMMERCIAL lease can declared void simply by the owner of the building selling? My understanding is that that was/is true...broadly speaking...without specific provisions. Since Lmat business is very capital improvement intensive in the build-out phase...what's to prevent the new building owner from demanding a new lease knowing the LMat is at an extreme disadvantage. " You could relocate your LMat and take a loss or pay me _________" I mention this because I've seen so many successful businesses get squeezed this way on lease renewal. Most businesses fail, they leave behind all sorts of valuable improvements and the ones that survive get squeezed...hard. The bitter irony is that the very existence of the successful LMat in that location drives up the purchase price of the structure/land.

@LaundromatResource 3 года назад

Great question. It depends on the lease. I would specifically look for wording that requires the lease to be honored upon transfer of the property, because you’re absolutely right, it’s tough and expensive to move a laundromat. Usually prohibitively so. I always recommend consulting with a lawyer when looking over a lease you are assuming or negotiating for reasons just like this. Another potential “gotcha” is I’ve seen leases that have a clause that allow a landlord to give 90 day notice (or however long) if a new anchor tenant signs a lease in the building. You definitely want to avoid that, as well.

@DeliciousDining4U 2 года назад

You may have already answered this question. My biggest concern is financing the 1st laundry mat. I am actively looking. I already formed a company and I have money saved in the business account. My job takes care of all my needs. My long term goal is to build passive real estate income. I know its not 100% passive but I plan to leverage the time of others to free up my time. I want to dedicate about 3 months to run it myself to learn it then put others in place to manage the day to day. I want to understand the numbers. I just want to get in the game like yesterday. I am ready to do this.

@LaundromatResource 2 года назад

There are a bunch of different ways to finance a laundromat. Most common ways are to use a bank, use a laundromat-specific lender, or use seller financing/private money

@antrechio Год назад

@@LaundromatResource What is a good interest rate range for financing on a laundromat? thank you!

@JackInTheShop Год назад

Have you made a purchase? How are you coming along?

@LBOMendoza 2 года назад

Really considering going into the laundromat business, thank you for your videos!

@LaundromatResource Год назад

Best of luck! Let us know if we can help in any way!

@Resell_crazy Год назад

My question is where to start from the moment you decide you want to do this and how to plan out a way to support it.

@ankurmohindru3094 Месяц назад

I am also in Orange County. Thank you so much for the video and sharing your knowledge and experience.

@mr.millionaire4570 Год назад

I have multiple questions. 1. How do people operate a laundromat business out of state? 2. I am building my credit at the moment trying to get a 850 credit score somewhere next year to get a big personal loan to be able to buy a laundromat 3. Is getting a permit enough to buy a laundromat or do I need the license as well to be completely good? 4. how soon should I form an LLC since I’m not an entrepreneur yet?👨‍💼

@LaundromatResource Год назад

1. It can be tough. Usually it requires a combination of technology and trustworthy boots on the ground help. 2. Somewhere around a 740 credit score is all you’ll need to get the best rates. There’s really no benefit once you pass that. 3. You don’t really need a permit but you’ll probably need a business license in the city you operate out of. 4. You don’t need to form an LLC until you already have an offer accepted and you’re in escrow

@mainbeam3091 2 года назад

Great info on starting up. Looking forward to building my first laundromat next spring.

@LaundromatResource 2 года назад

Awesome! Keep me posted on how it goes!

@TeamLyphe Месяц назад

How is the business going?

@3crusade 3 года назад

I would like to see a financial breakdown from owning a stand alone building to a lease place. Just what to look for when talking to an owner who has a lease and weather if one can make money with a loan plus a rent payment..

@LaundromatResource 3 года назад

Good questions. I'll see about making a video on this. The main difference, financially, between leasing the location and owning is that your laundromat rent payment goes to you when you own, and to the landlord when you lease.

@Lancemillerable 2 месяца назад

Great info! Thank you for all of the resources you provide!

@LaundromatResource Месяц назад

Glad you like them!

@markgaterbondifinancialguy3885 3 года назад

Just subscribed - enjoying so far.

@LaundromatResource 3 года назад

Thanks!

@user-sh8yd4ry6q 5 месяцев назад

Can you do a video on starting up a laundromat from start to opening day. LLC or s quote, buy assets or shares and the difference, website, finance, LOI, due diligence period or no. Do you need to look at their books, utilities exc. Should you have a mentor or equipment distributor? What order does all this go in. Do you need it all. Should you have a mentor before you jump into owning something if you have zero experience.

@PositiveROI 2 года назад

great content! thank you!

@LaundromatResource Год назад

My pleasure!

@theonlyalexoliveira Год назад

Here’s a RU-vid video that could’ve saved me 400 bucks!

@l.g.355 3 года назад

This was an incredible video. Thank you. Thank you. Thank you.

@duenashayes 3 года назад

i been thinking about get a laundromat i been looking at your video i want to do it i been looking at a lot of resource and u been helping me a lot

@LaundromatResource 3 года назад

Awesome! Let me know if I can be of any other help

@sherlinahill987 29 дней назад

Replacing equipment Building a building or getting one that already up in running

@johngonzalez85 2 года назад

Thank you so much for this video, very informative and helpful. Looking to purchase my first laundromat in the Bay Area

@benjaminbryant2273 2 года назад

Just subbed! I am about to buy a laundromat in Colorado. I find your videos very helpful!

@LaundromatResource 2 года назад

Awesome!! Congrats! Let me know if there’s anything I can do to help!

@benjaminbryant2273 2 года назад

I clicked the button to try the evaluation tool, and it said thank for trying the evaluation tool! Would have like to actually give it a try.

@sandrahidalgo2286 Год назад

Congratulations 🎉I’m also buying in Colorado!

@sharkbytecards 2 года назад

Ive never owned a business or have no experience with any ownership. I do want to buy one and learn as I go. I have my stepdad that Im planning to team up with for repairs. No experience is what is holding me back, but Im willing to take the risk.

@heatherwilson9693 3 месяца назад

How much cash on hand do I need for a business that brings in $12,500 per mont net $3300? Small spot. 21 washers 20 dryers. Cash on hand for expenses and mechanical issues. Unexpected expenses and such.

@jeanlujan6129 3 месяца назад

What’s the bad credit terrible credits for no income no down payment I’m on SSI and Social Security. I’m 65 years old. I would love to be able to do this but you know things are hard. No excuses though.

@angelajohnson5454 9 месяцев назад

Different ways to finance a laundry mat

@christopherdesimone2838 2 года назад

This content is great!!

@LaundromatResource 2 года назад

Thanks!

@AMMCommunications 4 года назад

New subscriber here. Great content! Thanks, Jordan. My question is, "What is your opinion of a store that operates on dollar coins and tokens?" I am not interested in operating a card store at this time.

@LaundromatResource 4 года назад

Thanks! Great question . I don't personally own a dollar coin store or token store but I can see some of the benefits. It does take a while to use quarters in some of those larger machine and a dollar coin would make that much simpler. I don't think I, personally, would be as big of a fan of tokens. I don't think customers would like it very much, I wouldn't want to buy the tokens (and continue buying them to replace the "float" tokens that go missing), and it just doesn't seem to be as good of a experience for the customer in my opinion. But that's just my opinion. There's nothing inherently wrong with them.

@taumalotofesili3002 2 года назад

great video and info to starting with.

@ObeeH 3 года назад

What questions to ask seller when purchasing a laundromat? What to look for in a inspection? What information should I ask for?

@ObeeH Год назад

@@mroctober3583 what do you mean link a video?

@yasmin650 6 месяцев назад

Love you channel! Amazing resource! My main question is why do laundromat fail?

@AlwaysAmy24-7 9 месяцев назад

If you lease a building and build a great business, what stops the building owner from NOT renewing your lease & continuing a laundry business w the clientele & business you have built?

@LaundromatResource 9 месяцев назад

1. You need a long lease (preferably 20 years). 2. The equipment still belongs to you, so the landlord would have to invest hundreds of thousands of dollars to put equipment in there. 3. Most landlords don't want to run a business. That's why they leased the space to you in the first place.

@GALTIZER2003 3 года назад

I would be afraid to fail, I have residual rental property and getting tired of renters

@LaundromatResource 3 года назад

It definitely can be scary. It's important to have good people on your team to make sure you don't fail.

@GALTIZER2003 3 года назад

@@LaundromatResource tell me more about good people on my team, did you do a RU-vid on that ?

@LaundromatResource 3 года назад

@@GALTIZER2003 I didn't but I'll put that on the list. Good video! Off the top of my head, you need a good broker (if you go that route), a good distributor, an accountant & lawyer to help you structure your company to maximize tax deductions while minimizing liability, and I always recommend a good consultant (whose payment doesn't depend on you buying a laundromat).

@tylerstatham 2 дня назад

My question is in terms of financial training. I have no business experience. I’ve always just worked a 9-5. Would I need to take any business classes to have some experience? Or is it pretty straightforward? Or if I have any employees that work the mats etc.

@akili9319 2 года назад

I have bad credit. Working on it to get a higher score. No money to buy. Veteran. Just divorced. No life. 53. Desktop support. Do you think someone like myself can get help to open a laundromat?

@LaundromatResource 2 года назад

You can. Honestly though, I might take a little time to take a breath, regroup, and decide what you want life to look like going forward. 53 is young and you have a lot of life left to live. It's probably worth while thinking through what you want life to look like going forward and then develop a plan on how to build that life. And, of course, I'm happy to help however I can if you decide laundromats fit into that plan for you.

@noemercy9149 2 года назад

Do you need a permit in California to own a laundromat??

@LaundromatResource 2 года назад

No special permits needed

@mattdannis1077 2 года назад

What is considered a long term lease? 5-10 years? More? Also I’d love more info on all the ways to qualify for financing as a beginner in the industry.

@LaundromatResource Год назад

10 years bare minimum, 20 is better. Qualifying is usually a function of if you have the down payment (25-30%) and then the laundromat has to qualify.

@elishadrake2404 Год назад

@@LaundromatResource is it better to just get a loan and pay the total then owe the mortgage. I guess it’s a mortgage, not familiar with commercial

@roquearonna1903 4 месяца назад

I’m in Tampa Florida

@ronaldmorris7672 4 года назад

Hey new sub here! Looks like you’ve got some great info here thanks for putting it out. My question holding me up is this. How do you know when you’ve found the right laundromat? I’m worried because some of the deals I’ve seen are to good to be true. Living in Southern California the cost to buy the business I’m looking at is 370k! That’s an awful lot of money to not be 80-90% sure. Any advice would be greatly appreciated!

@LaundromatResource 4 года назад

Thanks for the sub! Great question. Here are a couple of thoughts but I'll probably make a video about this because I think it's really important. 1. Know what you want out of your business before you buy it. How much do you want to earn? How passive do you want it? What location do you want it in? We have a free download on our Resources page that can help you think through that. 2. Don't buy it alone. Hire a consultant (not the broker you're working with) whose paycheck doesn't depend on you buying the laundromat to advise you. Experience in the industry is incredibly valuable. 3. Do great due diligence while in escrow. Download our free e-book for some info on how to do that. 4. Have the broker, consultant, and /or a lawyer structure your deal in a way that limits your risk. Hope that helps a little. I'm in Socal too and know how tough it is. If you want to jump on a phone call at some point you can schedule one free at Laundromatresource.com/coaching

@LaundromatMillionaire 3 года назад

Ronald Morris, Laundromat Resource just gave you some fantastic tips for your question. Take your time, but be diligent.

@caidencristiano2178 3 года назад

instablaster.

@ferecito3214 2 года назад

My biggest question, and what made me click on this video is how to pick one out.

@laurenpulliam380 Год назад

I'm here from school but worked at two different laundromat owners. it's great for retired men and women part time but I am full time student, it was becoming too much stress!

@richardrowe1538 2 месяца назад

#2 Why would someone sell a moneymaking business with little ownership oversight?

@46cartoon Месяц назад

I need to buy laundromat

@jessjessica4269 Год назад

I’m very interested in knowing A lot more about this laundrymat business either buying one or even better getting one for free. 😀

@rdbeaz 2 года назад

Coin, Swipe Card or Visa...the laundry mat at my vacation codo uses credit card no coins

@chewtoy2137 3 года назад

My biggest question is how do I properly evaluate a laundromat to ensure that I am not over paying and have some sort of idea what shape the equipment and boiler and such are in.

@LaundromatResource 3 года назад

I happen to be teaching a free live webinar on how to evaluate a laundromat deal next Thursday (8/11/21). I do a free live webinar every week and that one gets thrown into the mix semi-often. It's very popular!

@carlos.rodrigues 3 года назад

@@LaundromatResource are these recorded for posterity? 🤞

@dantehedge8414 Год назад

Number 1 cash down. Banks want between 25 and 40% don't waste your credit otherwise

@DMANRULZ 2 года назад

My biggest fear is the seller is not giving the correct information on the sale and at my age I don't want to loose money.

@iamgabrielf Год назад

1:55 skip the fluff.

@sherlinahill987 29 дней назад

Replacing equipment

@KustomKrosses 4 года назад

Do you prefer card or coin laundromat? What happens if some loses their card with money on it?

@LaundromatResource 4 года назад

Ty Easy card stores MUCH easier to manage and you have a lot of control over promotions as well as data from customers. The downside is that it is expensive to install the card systems. As far as what happens if someone losses their card with money on it, that's up to the owner. Some systems have ways to cancel a card so you can reissue a new one. However, some don't. Many owners communicate that customers are responsible for their own cards.

@KustomKrosses 4 года назад

@@LaundromatResource thank you!

@SharkGurus Год назад

Bad credit , no capital , lack of business knowledge and young age making it hard to own one

@natesims7990 2 года назад

I have an existing laundrymat nd I want to moderndize and replace equipment not working, what is needed?

@LaundromatResource 2 года назад

Awesome Nate! Your first step is probably to talk with a couple of equipment distributors to get an idea of what equipment to replace, how much that will cost, and what financing options are available for that if you want to finance them.

@_eimine_ 3 года назад

Many of the newer apartment buildings in my community are in the city where parking is a concern. I wonder if a laundromat would suffer with limited/no parking? Perhaps the pick-up/drop-off service would be best to service this demographic?

@tyroncline5978 2 года назад

Pick up and drop off comes into play here (if you have a service). Also, most corners in the city don’t have a choice but to use a shopping cart or carry.

@kyukyu90 3 года назад

Hey I just found out ur channel and it is very interesting. you really make me think about this business. I went straight into googling laundromats nearby for sale. Some questions pop up in my mind though: do you think it is still substantial during this pandemic? how is the industry affected by it and if I were to buy one, should I wait til like summer where people like to spend more time outside?

@LaundromatResource 3 года назад

Awesome question! Different laundromats have been affected differently. The general picture is that laundromats have remained essential businesses and have been able to stay open pretty much throughout the whole pandemic. Many have been down 20%-40%, however. While many have bounced mostly back, the world is still volatile right now so we'll keep monitoring it for now.

@kyle18714 3 года назад

I just went back & started watching your old LM videos?...& so I was just wondering....I get the vending machine collections of Bill's & quarters...I get the bill collection from the change machine?... what I dont understand...is after you or I are done collecting all of the quarters from EVERY THING?... besides putting quarters back in the hopper in the change machine?... once the hopper is full?... where do u put the rest of the quarters?...in a spare bucket in the back?....& save it for the change hopper for Next week?...or do you take them to the bank?...thanks...

@LaundromatResource 3 года назад

I usually end up with less quarters than I started with, so I end up buying quarters from the bank. I never have to roll quarters or take them to the bank. If you had an excess I guess you would have to roll them at that point. I wouldn’t keep too much cash in a back room. If word gets out about that somehow it could pose a problem, depending on your area.

@kyle18714 3 года назад

@@LaundromatResource Oh ok sounds good...thanks...so you just take the Bill's to the bank?....also...there is this laundromat for sale in Vegas?....its listed at $175k...its 2250sqft., it's a really clean place....it has a 5 Star Rating on Yelp... it is a leased space...I am really considering buying it...I just emailed the owner back my signed NDA's- what, where do you think I should go from here?...thanks

@davidhensley2182 Год назад

Ownership of a laundromat is a great challenge

@ksk101963 7 месяцев назад

Hi I left a comment on your how to buy a free laundry mat love to speak with someone about buying a closed laundry mat I watch RU-vid channel called UP Flip and there is a gentleman in Everett Washington that has a laundry mat called laundry Genius I messaged him on Facebook but haven't talked to him on the phone or met in person but he seems like a very knowledgeable person looking forward to your reply Kraig from Washington State

@thelmaemmaporras5418 6 месяцев назад

Hire someone who can fix equipment or just hire when they break down

@suzyq8770 3 года назад

What advice can you give on leasing vs buying.? Also what us a good deal?

@LaundromatResource 3 года назад

Leasing vs buying the laundromat location, or equipment. I wouldn't personally lease equipment, although you certainly can and still make money. Leasing the location is just fine, although in many circumstances if you can own the property it is beneficial to do so! A good deal is any business that performs as good or better than you anticipated it would. The key to the business is buying at the right valuation so that you get the return you want.

@hwilfley 4 месяца назад

How do I partner with someone to buy a laundromat. I have one that is interested in selling.

@revh7478 Год назад

Thank you sir, very informative....

@LaundromatResource Год назад

Glad it was helpful!

@ericfowler4098 Год назад

Hey my name is Eric and how to stat o

@rb26010 Год назад

What is the biggest headache when owning a laundry mat?

@LaundromatResource Год назад

Depends on the laundromat and the business model. For my unattended laundromat in LA it has been preventing loitering. For my attended laundromat it has been filling every position with the right person. It’s like a puzzle sometimes haha

@MrDMusiq0391 2 года назад

Is it best if you're already working a job to slowly transition into buying a laundromat, or "jump off the deep end" so to speak and go all in?

@LaundromatResource 2 года назад

There's a whole lot of "it depends" in the answer to that. But if you don't already have enough money to buy a laundromat that will cash flow enough to support you then I suggest buying a laundromat as a side hustle initially and transition out of your job over time.

@MrDMusiq0391 2 года назад

Thank you for the reply and information. I am unsure on how to access the difference in good and bad deals so far. I've done probably 6 months of research but still not confident in knowing whether to execute or not. I look forward to you speaking at the event in March.

@richardrowe1538 2 месяца назад

Making a great ROI or simply put, making money

@all4fitz 2 года назад

Hey Jordan, So glad to discover your resources today! I think it's very unlikely I'll happen to find a laundromat for sale near me so it seems long distance ownership is inevitable. 1. Do you have a video offering tips for long distance ownership? 2. I assume it's critical for long distance ownership to have someone else collecting from the machines and therefore have Wi-Fi enabled machines to collect sales data. If a laundromat that I find won't have state-of-the-art equipment, is there an add-on device for older machines that enable Wi-Fi connection and allow monitoring sales?

@LaundromatResource 2 года назад

Thomas Landenberger (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-qq9guyT6sLo.html) you can search him on my channel if the link isn't clickable lives in Italy and owns laundromats in Florida. He gives some good tips on remote ownership! Most of the card readers bolt onto the machines. Some of the newer machines can keep track of sales out of the factory, but if the machines aren't brand new the card reader systems are the way to go

@all4fitz 2 года назад

@@LaundromatResource I'll check the link on long distance ownership. Thanks! Ohhh...the card readers bolt on! If I was a customer that would be the only way to go. As an owner, the card readers seem so necessary to conveniently monitor sales, but especially for long distance owners. But isn't it also necessary for the machines to always accept coins so not to discourage some customers? Or, is it common for modern stores to have only card readers?

@LaundromatResource 2 года назад

@@all4fitz more and more newer stores are going all card. There are also a lot that accept both coin and card.

@prajwalkhanal8811 Год назад

I appreciate your contents. I have a question that I would like you to answer if possible. I have found a laundromat for sale which is making 6k a month currently. It caught fire in covid time and they completely built it from scratch, it's working normally now. Before the fire accident, it was making about 9k a month and the owner said that the profit is gradually increasing, means people are again coming back to the place. Now I am unsure if a laundromat that caught fire has a different value in the world. Does this affect the business or the re-sale value? I am a real estate agent and I know for fact that burned house will have a higher value since everything has been built from scratch. But I am not sure about laundromat. I would appreciate your answer to my question.

@markyancey245 8 месяцев назад

Wash & fold - employees stealing?

@user-sd1dq7nr2q Год назад

Buy existing laundromat or start new

@LaundromatResource Год назад

Buying existing is generally easier, quicker, and less risky. It’s usually better to go that route the first time around

@TruthSamurai 2 года назад

Hey Jordan. Love the RU-vid channel and all awesome content. Where’s the best place to find a laundromat Operator? How much cash do I need in reserves if I do seller financing? Is there an SBA loan prechecklist that’s available?

@valomerovic1910 2 года назад

Hi Jordan I love your RU-vid Chanel How can I get in touch with you on where to get information on owning a laundromat

@richelletvforyou8324 4 года назад

You often mention your bad experience with first laundry due to less than honest broker. Do you go into detail on any of these videos?

@LaundromatResource 4 года назад

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T7jSyc1AH40.html

@kyleamcphee 9 месяцев назад

Curious to know what financing options work best for someone with a modest income, as well as challenges to buying or opening a laundromat in a smaller market.

@arelyvasquez9298 Месяц назад

I am interested in buying a laundry mat, how do I do, start or what do I need if I do not have knowledge nor experience? I have a great credit score for this plan or future project. Would you be able to guide me or train?

@LaundromatResource Месяц назад

Check out our consulting page here: www.laundromatresource.com/consulting/

@sebastianshaw8812 4 года назад

Thanks for the info. I’m trying to find funding for a laundrymat. What are some sources for funding to buy a laundrymat?

@LaundromatResource 4 года назад

Jermaine Privott great question! A couple of great sources are family and friends, machine distributors, and partnering with real estate investors. I wrote a blog post that will be helpful. Look it over. If you have any questions, let me know! laundromatresource.com/81-proven-ways-to-finance-a-laundromat/

@stephaniehartsock3417 3 года назад

Are there any health hazards that are associated with running a laundromat?

@LaundromatResource 3 года назад

Not particularly. Unlike dry cleaning, you're not really dealing with any hazardous chemicals or anything.

@carmenvilchez74 2 года назад

Good video thanks

@maryannefernholz3903 Год назад

I do not see the checklist anywhere.

@LaundromatResource Год назад

The link is down in the description under - "Free value add checklist (direct download link)" It's a direct download or else I would post it here, sorry!

@shanyila08 Год назад

To build one or buy one

@collectiveactionnow2341 4 года назад

What are a few sources to find investors, limited and financial partners to provide the equity down payment and operation experience?

@LaundromatResource 4 года назад

I think the best two places to find investors or partners are with people in your social circle and also real estate investing meet ups!

@bernardpelzer30 2 года назад

Ih Jordan I really enjoyed your You tub video. I want to know if I can get all this things on the east cost as well?

@LaundromatResource 2 года назад

Yep!

@michaeltaplah7923 Год назад

I want to know the price of the Laundry machine and the supplies

@clarkt9925 3 года назад

Heyo Jordan! What’s your educational background? Would you recommend schooling beyond high school? Thank you for all your help!

@LaundromatResource 3 года назад

I went to college. I don’t think you need college to own a laundromat, as long as you’re a self learner and are determined.

@guyspeck7501 3 года назад

I would like to get your free ebook

@LaundromatResource 3 года назад

The best way to get it is at laundromatresource.com/free-e-book

@pablobeaty 8 месяцев назад

I’m in north Hollywood , I think that’ll be a good area. How do I find a broker

@guyspeck7501 3 года назад

Net x what?

@LaundromatResource 3 года назад

net x 3.5-5 depending on the condition of the laundromat (among other variables)

@30Freeman03 5 месяцев назад

Just goin for a spin 😅

@juansdutan4390 7 месяцев назад

Plumbing issues that are common

@businessownership 4 года назад

Hi what’s better card or coins laundromat your best honest opinion? I am in California and I’ve been looking at laundromat to get into do I need to have experience can you run it by yourself.

@LaundromatResource 4 года назад

I prefer card if you have a choice, but the downside is that they are expensive. You can run it by yourself for sure if that's the way you want to run it. It would definitely help to have someone with experience in your corner though.

@josemacias790 2 года назад

How much should you be paying for equipment and do the distributors install it for you?

@LaundromatResource 2 года назад

Equipment pricing is a big sore spot with me. There is no price transparency in this industry so you won’t get quotes until you talk with distributors. And the quotes will vary so talk with more than one distributor. Distributors don’t install for you but they general can connect you with installers. That is an additional fee

@spikyd.revenant8661 2 года назад

hello Jordan, the video is so good for new people thinking about it. can you pls suggest genuine broker, consultant as you mentioned in your video.

@henryartiga3248 4 года назад

How much starting capital does one need to either buy or start a laundromat from scratch?

@LaundromatResource 4 года назад

Awesome question Henry. It really depends. You can get them for free (kind of) or they can cost up over $1 million and everywhere in between. You typically need around 25-35% for a down payment but there are creative ways to finance them with less money down. I have a blog post about ways to finance a laundromat at Laundromatresource.com/blog that might be helpful for you

@fernando809able 7 месяцев назад

Why would anybody sell a successful cash business

@Qween23 10 месяцев назад

Hey Jordan!!!!!! Can you help me find brokers in PA?

@RoseNegrete 3 года назад

Hi Jordan! I joined your RU-vid channel and signed up for the free ebook. it's a blessing that I came across your channel and signing up for the membership. I've had a desire to get into the laundromat business but my biggest barrier was not having the knowledge. I can already see that the tools and resources are going to answer a lot of my questions. One question I do have in mind is when having it financed through a lender what percentage of a down payment they typically asked for? God bless!

@LaundromatResource 3 года назад

Thanks Jerry! Good question. It really varies depending on the loan, your financial and credit situation, your experience, and the location. But, if I had to put a number to it, usually between 25-35% down for a traditional lender. I recently did podcast episodes with Chris Michalek (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-iQsVXjgvBgE.html) and Marc Stern (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Jopba-41wKw.html) who are both lenders in the laundromat industry. They are definitely worth a listen!

@roquearonna1903 4 месяца назад

How can I find laundromats?

@kevinstilwell5673 4 года назад

I need your help to determine if purchasing this laundromat make sense. What is the best way to make this happen.

@LaundromatResource 4 года назад

You can download the ebook free on the website or set up a free phone consultation at LaundromatResource.com/coaching! Exciting opportunity. I'd be glad to help if I can.