NVest
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- Joined
- Jan 23, 2020
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I recently purchased a laundromat with the hopes that it would contribute to my financial independence. I currently work on contract and save a significant portion of my income, and this opportunity came up so I jumped on it.
The laundromat is very beat up but also very popular. I've never owned before so it is a learning curve, but the cash on cash return is so far phenomenal considering I just stop by every morning to check on the attendant, the store, and meet with customers.
My plans are to give the whole place a facelift, set up a wash dry fold service, and provide some newer machines, all purchased with the revenue from the laundromat.
Currently it grosses about 250k per year with a net of 80k. I'm confident I can double that with the wash dry fold, but time will tell
.
I'll be posting updates here and on youtube.
www.youtube.com
The laundromat is very beat up but also very popular. I've never owned before so it is a learning curve, but the cash on cash return is so far phenomenal considering I just stop by every morning to check on the attendant, the store, and meet with customers.
My plans are to give the whole place a facelift, set up a wash dry fold service, and provide some newer machines, all purchased with the revenue from the laundromat.
Currently it grosses about 250k per year with a net of 80k. I'm confident I can double that with the wash dry fold, but time will tell
I'll be posting updates here and on youtube.
NVest
www.youtube.com
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