I'm really hoping this doesn't come across too salesy, but here goes anyway.
Had my best month ever : I've been running my real estate company, laundromats and now documenting the whole process on youtube.
Revenue was 60:40 in favor of my brick & mortar stuff, but youtube is exploding. It's...
Well , a good chunk of it. I was very pleased to be interviewed by Graham Stephan recently (One of the biggest finance/wealth guys on YT) about my rags-to-riches story going from being evicted to owning nearly 100 rentals AND having the landlord who kicked us out asking me if I'd ever take...
During the month of July, between money recovered from machines (There were PLENTY of quarters stuck in machines), soda sales from our outside machine that had been running for almost a month prior to opening, rent from apartments above the laundromat (Did I mention there's apartments that pay...
Absolutely doing B2B and B2C aspects for drop-off as well as looking at utilizing uber/lyft to do all the heavy lifting and collect laundry from various locations for us. Also looking at locker drop-offs at the local college campus that we can empty and off-site wash/dry/fold as well.
Between nothing and a few million - It's too hard to get a solid answer because it depends on new development vs existing, what size you need, equipment ,etc.
Yeah, too many people here are cash-only, had people come by and BEG me to to not go to cards because one of the few options in town...
We opened up blocked doors in part of the laundromat facing the street. Was told it was an abandoned stairwell.
Ends up it was a real estate office.....so I now get a free 12x12 office along with the laundromat.
I've seen some where the owner had one employee and was clearing NET of over $300k/yr working 5 days a week (Employee was working weekends and part time through week).
They CAN be great money makers or they can be nightmares...like alot.
Today I learned that the former owner(s) never, ever, ever cleaned their coin mechanisms out.
Spent roughly a hour with a coat hanger fishing quarters out of the mechanisms. Made right about $94.
I asked my friend who owns about 100 rentals how much he'd want to make fishing quarters out of...
Once it's all said and done 1-2 hour a week. My goal is to make it as efficient/automated as possible, outsource all the low level work to a employee (Tasked with maintaining/running 3-5 laundromats) and then look at further scalability.