This Laundromat Makes $3 Million? 

Hey Codie, love your content! We actually met a couple of years ago when I was on the BOD for the ALPFA Orange County Chapter and you were a guest speaker! Any tips for how to find boring businesses to buy from baby boomers (BBBB's) in the Austin, Texas area?

@@Nickriley94 love this yes. Ok to do ur question justice go to contrarianthinking and google how to find deals

Love your content as well How much would you say you needed to start a business like this ?? I’m out in calgary Alberta and I think this would be awesome and would work wonders here.

Is the goal here to acquire or build sizeable wash/dry/fold facilities every X miles or so (i.e., shrink the service time from days to hours or overnight?) or offer franchise opportunities to other wash/dry/fold facilities and run all the logistics (if they wanted to scale quickly without having to spend a lot of capital on physical stores and have ROFRs on all those franchise locations.) Mark mentioned most of their customers use the service sporadically - implying convenience over necessity. Are most of their clients, in fact, people with washers & dryers that choose to use the service for convenience? If that is the case, the value prop is really folding clothes as it's the most time-intensive...throwing clothes into the washer and dryer isn't worth much. Have they thought about providing just a folding service as a standalone option? There is certainly overlap with home cleaning services as I'd imagine the folding service would require an individual or two to go into the customer's home. A few other questions: Have they experimented with subscription services with a monthly weight or bag limit? Is anything proprietary about the business? Did they develop any software to handle the operations? Or is this a land and expand / first-mover to scale strategy? Did the owners acquire the business and add services or improve the service level? What are the exit plans (if any)? Is this a long-term hold for the majority owners, or are they looking at flipping when they get to some revenue figure? Are they raising capital? I'm sure folks in the contrarian thinking crew would be interested in investing. Out of left field question (and not sure if they can collect this level of data on their customers): Can they catalog customer wardrobes? Not sure if there is AI/ML technology that could categorize everything going through their facilities and tag them to a household (excl., sex toys). The manual way would probably be too time-consuming and disrupt the service level.

@@jamesbrine8494 So I wouldn't start it I'd buy it using an SBA loan or seller financing. unconventionalacquisitions.com/laundromats/

Love it. What is missing that you want to know?

@@CodieSanchezCT Perhaps a bit more on recognizing an opportunity as well as understanding future market potential. Also, mirroring what a few others mentioned on production, leaving the text on screen and making it stand out a bit more and, I'd say be mindful when flashing info or graphics on screen in general. It tends to take viewer eyes and attention away from the valuable content you are producing here! Great job and thanks for sharing your value and insight with us!

How did you decide on a number for the 100k in exchange for equity for this deal and other deals ?

@@CodieSanchezCT How to market it, customer acquisitions, how to do the numbers to make sure you're in the right investment, what to insure...anything that helps ensure success...

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How much do they really make profit?

I want to invest in the course but it's questions like this that make me skeptical

Total income was $238k....I'm not sure where I missed the breakdown on the $3m in revenue?

Yay!

Yay!

Yay!!!

Thanks for the feedback that's great!

I second this. Super hard to hear what's being said. Thanks for posting this video.

3rd

Yes thank you!

You still think like a peasant 😂 talking about changing car oil? 😂 Or wash their car? 😂😂

@@yodaddy4735 Men wash their car because they love them.........their cherished toys that need pampering

tyyyyyyyyy!!!

This is so helpful thank you!!

@@CodieSanchezCT And the text info should be on a flat background - some is very hard to read when layered over a moving full bleed video image - but small things.. ;) Great content! Lovin the new longer versions, but still lurve your short vids!

agree, had to pause/ rewind a couple times to catch them.

I agree! Keep doing what you’re doing! 👍🏼

Amazing what did u like and not?

Super interesting. Love to hear more and highlight you in our group too!

haha that was my one thought.... why isn't the detergent stored in big hanging shelves that hang down from the ceiling so the it's at eye level when you're loading laundry? Like the systems they have in oil change places so that each stall just grabs a nozzle for oil or whatever

you have to go to poorer neighborhoods for sure unless you're doing wash n fold

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Honestly they’re not my favorite but yes definitely fall in the category.

As a new subscriber keep up the good work

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Hahah right?

College students are generally broke.. there's no way this type of business which likely has a hefty markup on doing your own laundry, thrives around a campus

People with private houses with washers and dryers use the laundromat. Lol.if you see people, you need a laundromat. Lol

Buy a portable wash machine... It hooks up to your kitchen sink faucet and you drain it right in the sink! No hook ups needed. It will pay for itself in. A few.months vs laundry mat fees.

I dont like washing clothes, thats why we pay someone to do it