In this inaugural episode of the Laundromat Resource Podcast, host Jordan Berry shares his vision for the podcast and the story of his journey into the world of the laundromat industry.
Leaving no secrets, Jordan shares the raw truth of how he got into the industry and why it wasn’t as easy as collecting quarters once a week and letting the business run itself.
If you have ever struggled with owning a failing laundromat, a business that most statistics suggest rarely fail, this is the episode for you. If you’re thinking about getting into the laundromat business and are worried about losing your investment money, do not miss this episode!
Jordan shares the story of how he got into the laundromat business, the painful experience of immediately losing money, and some of the hard-earned wisdom he’s gained from those failures.Â
Watch The Podcast Here
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Episode Transcript
you’re listening to the laundromat
resource podcast the show by laundromat
owners for laundromat owners with your
hosts Jordan Barry hey what’s up guys
you are listening to the laundromat
resource podcast episode number one I am
so jazzed about this I’ve been looking
forward to this for a long time I’ve
been prepping for it for a while now and
I am excited that it’s finally here that
we’re finally launching the laundromat
resource podcast a podcast by laundromat
owners for laundromat owners and help us
all achieve financial freedom through
the laundromat ownership so if that’s
something that interests you make sure
that you subscribe to this podcast and
hey listen to a few episodes and if if
you like it give us a good rating review
that just helped bump us up to get us a
little more visibility so we can reach
more people who are in the laundromat
industry who want to grow their business
who want to succeed and who want to
contribute too so do that and and I
wanted to before we get into this I
wanted to give you sort of my idea of
what I want to do with this podcast now
I am going to be spending a bunch of
episodes interviewing the laundromat
owners maybe like you if you own some
laundromats
or a laundromat I’m gonna be
interviewing laundromat owners and
asking them about their experience how
they got into the laundromat industry
what it’s been like since they’ve been
in the industry how their business is
doing and what I’m literally asking
people other owners to give their secret
sauce what’s working for them right now
what’s something that other laundromat
owners can do right now to implement in
their business to help them succeed at a
greater level so literally that section
is called the secret sauce so get
excited about I just that’s been I’ve
already done a few interviews and it’s
been by far
favorite thing that I’ve done so far is
talking to other owners hearing their
story hearing what they’re doing there’s
such a broad spectrum of ways to run
laundromats that I wasn’t even really
aware of until I started talking to
other owners and getting a little bit
more involved so I think you’re gonna
find it really interesting
hopefully I know I have so far and today
I’m actually gonna give myself a little
bit of my own medicine I’ve been asking
owners all these questions about their
business and today I’m gonna ask myself
those questions and we’ll go through
those today but before we get into that
I just wanted to throw in a little plug
if you’re a laundromat owner and you’re
interested in being on the podcast it
doesn’t matter if you have one
laundromat or a bunch of laundromats if
your laundromat is small or big if it’s
successful or it’s failing it doesn’t
matter I want to get a a wide range of
experience and and just you know where
everybody is in their laundromat
ownership journey because I think we can
benefit from all of those stories so if
you’re a laundromat owner and you’re
interested in being on the podcast I
would love to just have a chat with you
soon chat and just I’ll give you even
what we’re gonna talk about beforehand
and and you can prep and it’s very low
key and low pressure and it’ll just be a
conversation between us that then a
bunch of other people will just kind of
get to watch later but if you’re
interested in doing that and
contributing in that way I think you’re
gonna be inspired by the people who have
already done that and you as you listen
to more episodes I think you’re gonna
get inspired by that and if you’re
interested in contributing in that way
go to laundromat resource dot-com slash
podcast guess and just guest gue st
podcast guest and just fill up that
little form there answer a couple a
couple of little questions i’ll get in
contact with you and hopefully we can
get you on the show here and hear about
your experience too and what you have to
you know what you have to teach us all
so that was just a quick little plug I
will also say that not every episode at
least in the beginning is gonna be
interviews the first few will be
interviews I want to try to put play
around a little bit with you know what
we’re doing on the podcast just because
I want to see what works best for us
again this is a podcast by laundromat
owners for laundromat owners and so I
want to get feedback from you guys what
you guys like what you don’t like as
much so I’m gonna try a few different
things
and if there’s something that you really
love or there’s something that you
really don’t love that’s totally okay
and I want to hear those things so reach
out to us either on the website
laundromat resource calm or on one of
the social media channels just send us a
direct message and and you know we’ll be
sure to incorporate you know kind of
your input and and go forward from there
so it’s gonna be kind of evolving a
little bit and hopefully we can kind of
shape it and form it together but I
really think that you’re gonna love
hearing from other laundromat owners so
we’ll probably keep those in the mix at
least going forward because you know at
least selfishly I love talking to other
owners and hearing their stories so if
nothing else I love it even if no one
else does
I’m just kidding I think you’re really
gonna love them so that’s what this
podcast is gonna be about and enough
with all of that let’s just get into
feeding me my own medicine and let’s
talk about my experience with
laundromats and in kind of what I’ve
learned in this crazy journey it’s been
it’s been an interesting journey so far
but without further ado let’s bring in
our guest
all right we’re here with Jordan Barry
from laundromat resource calm Jordan
welcome to the laundromat resource
podcast thanks Jordan
I really appreciate you having me on I’m
really excited I’m just kidding I’m not
gonna do that to you this whole oh man
just gonna be a long episode for you
sorry I’m not gonna do that to you this
whole thing but hey I’ve got questions
that I’m asking various laundromat
owners and I am going to ask myself
those questions so let’s start this how
did I get into laundromat ownership and
why you may have seen this maybe on the
blog or another YouTube video but I’ll
give a quick rundown of how I got into
the the laundromat industry and why
because it is kind of an interesting
story I think well here I’ll just tell
you how I got into it so I I was a I was
in ministry I was a pastor for 13 years
I did that and I worked at churches and
I was just ready for a change of pace
and life a change of scenery and so I
was ready to just do something different
I didn’t really have an idea of what but
I I kind of quit my job working as a
pastor at a church in Southern
California here and I we had my we had
two young young kids I think like three
and a half and one years old and and my
wife who’s a teacher wasn’t working at
the time she was stay at home and I
didn’t really have a plan we had a
little bit of money in the bank and we
owned our house in down here in Southern
California and so we’re trying to figure
out okay what’s the next direction to
take what what do we do kind of going
forward from here and I had this genius
idea my idea was this and you tell me
what you think but I think I still think
it’s a genius idea my deal was why don’t
we take our house that we own here in in
Southern California let’s rent it out
for a couple of years we’ll take this
little chunk of money we have in the
bank and let’s go buy a condo
in Hawaii you know we can live near the
beach and do kind of whatever for jobs
until our kids are school-aged and then
once our school age we can move back
here we have some family here and stuff
and rent out our condo in Hawaii net
gain condo in Hawaii and that sounded
like an awesome idea to me and my wife
said we could do that or we could buy a
laundromat yeah
and man it seems like an easy choice to
me but somehow we ended up buying a
laundromat so I started researching them
I found it along the way and maybe you
have experiences too or maybe I just
didn’t really know where to look but I
found that information like real
practical nuts-and-bolts information on
on laundromats and the laundromat
industry was kind of tough to find and
that’s one of the reasons that I’m
trying to do what I’m doing here a lot
of my resource is trying to make this
information available it shouldn’t be
hard to find and you know it’s just
solid information on you know how to
find a laundromat to buy how to actually
buy a laundromat how to run a lot about
how do you know scale your business and
you know those kinds of questions that I
was just having a hard time finding and
so I did a bunch of research as much as
I could and then I started looking
online for for laundromats and I found
one that I really liked and contacted
the broker and the broker was like at
that owner is just unrealistic you
shouldn’t buy that laundromat but I have
this other one that you should buy now I
I didn’t know anyone in the industry
really and I didn’t really know what I
was doing I had no business experience
whatsoever I know investing experience I
had no concept of cash flow I barely
knew what equity was only because we own
our own houses and bought and sold and
but really not as an investment I had no
concept of any of that stuff
and so really you know let alone knowing
anything about the laundromat industry
itself or laundromats I hadn’t I don’t
think I’d ever even
really been to a laundromat until I
started looking for laundromats to buy
so that goes to show where I was coming
from but with that said I contacted the
broker he he’s like I have this
laundromat you know that you might be
interested in buying so I’m recording
live right now from my very first
laundromat which has been basically the
bane of my existence for like six plus
years now and I’ll get into that in a
little bit but basically I had to rely
on this broker who I didn’t know and but
he was kind of my only lifeline to the
industry the only one I knew that knew
anything about the industry and you know
long story short we ended up buying this
laundromat that’s why I’m here tonight
in the middle of the night basically
after closing and ended up buying this
laundromat and redoing it I we renovated
it we put in new machines you know new
flooring new bulkheads new you know
folding tables bulkheads is a part
between the between the machines that
you know has the electrical and the
plumbing and stuff to the different
machines in the sewer and the dreams and
so you know all of that
was new this thing had all this whole
wall I figured out on YouTube you can’t
really see this but this whole wall was
all wood paneling this whole wall over
here if you’re on YouTube was all wood
paneling all the way down I pulled all
that off and found super old crazy 70s a
wallpaper under there and tried to paint
over it but it was flaking off so I had
to scrape this wall and it’s like 50
feet by 12 feet high
it took me literally weeks I definitely
should have paid somebody to do that
it was a huge pain but I did it and and
I was you know I was expecting putting
in new machines renovating everything
that this business was gonna be bringing
in the dough and it still to this day
has never really worked out that way and
I learned a lot of valuable lessons I
learned a lot
about what what I did wrong and in the
main lesson that I took from this is and
this is gonna sound foolish probably to
some of you but I again I’m just gonna
remind you I had no experience and I was
I did not know what I was doing
whatsoever but my main lesson was don’t
rely solely on the one person whose
income depends on you buying the
laundromat aka the broker you know the
broker only gets paid if you buy a
laundromat that they’re selling
and so this broker took advantage of
that and took advantage of me not really
knowing what I’m doing and sold me a
laundromat that was never really gonna
be as successful as he made it out to
seem the pro forma numbers that he gave
me were outstanding I my life would be
very different today than it is now if
this laundromat was doing what he said
it was gonna be doing business did
improve it did we we pretty much doubled
business within the first six to eight
months but it was hard-earned
hard-earned you know business increased
because this laundromat had been taken
over by like a gang and so people in the
community were scared to go here and it
was just a long battle of trying to
rehab the reputation of this place and
that was way more difficult than
rehabbing the physical store itself so
anyways that was my main lesson and and
one of the main lessons that that I
really try to communicate to people now
and in fact so much so that the one of
the main things that I try to do we do
coaching and consulting and all of that
stuff laundromat resource comm slash
coaching if you’re interested in that we
give free coaching call so if you’re
interested in that go check it out but
one of the main things that we
you that I really just advocate you know
if not with us with someone who’s
knowledgeable about the industry is we
will no matter kind of where you are if
we’re able to you know some countries we
may not be able to but if we’re able to
we will help you find a good
knowledgeable and trustworthy broker
that you can work with if you’re
interested in selling your laundromat or
buying a laundromat and the main reason
that we do that and that’s free we do
that no charge to you and the reason
that we do that is because of that
experience that I had buying this
laundromat that I’m in right now nobody
should have to learn the lessons that I
had to learn the way that I had to learn
them it was very not only financially
expensive but it was emotionally taxing
you know we lost money for a lot of
months a lot of money every month for a
long time and that’s just really hard
when you’re expecting to come in and buy
a laundromat and you know everybody just
says you buy a laundromat and keep it
clean keep your machines running and
collect quarters every week and you’re
gonna be raking in the dough and it
never worked out that way here at this
laundromat so a big part of that reason
was because of the broker that we worked
with and in the lessons that I had to
learn so you also need to learn those
lessons but you don’t need to learn them
the way that I learned them so anyways
whether you’re selling or whether you’re
buying it’s really important to work
with somebody who’s not only
knowledgeable about the industry but
who’s also trustworthy and now being a
multi store owner being connected with
owners kind of all over now all over the
world you know in the next couple
episodes you’re gonna hear from Toby
who’s who’s in Sydney Australia and
super cool story so all over the world
really and and also being a laundromat
broker here in Southern California I
know what a good
knowledgeable and trustworthy broker
looks like now and and not only that but
if we help you find a good broker we’re
not just gonna like connect you and
leave you will be there if you have
questions or you know we’ll be checking
in to make sure things are running
smoothly and things are you know going
the right way so anyway it’s didn’t mean
to do a plug there but you know if
that’s a service that you need you need
help finding good brokers to work with
to sell your laundromat or to buy a
laundromat let us know on our website or
whatever any social media just reach out
okay so anyways that was kind of the
experience with this laundromat and it’s
it’s hard to share that story because
that is not what I went into this
business expecting and you know I read
all these statistics about how
laundromats have like a ninety something
percent success rate and I was like oh
my gosh like how are all these people
succeeding in this business and I’m this
part of the small fraction of people
that are failing and that was just
really really painful you know and in
just hard to just hard to swallow and it
really made me feel like I was not not
cut out for this in that I was
inadequate in some in something that so
many people were very adequate in
apparently you know I’ve come to find
out that this story unfortunately is not
super uncommon in the industry and again
that’s why we do you know a free
coaching call that’s why we help people
find good brokers because we don’t want
that to be your story so very very tough
but I’ve I’ve stuck through it and and
I’ve worked really really hard this
store like I said is still you know I if
you came up to me and asked me real nice
I’d probably just give you the keys to
this store right now it’s just been you
know a struggle and you know it’s a lot
better than it was now but again it’s
just not what
the broker told me it was gonna be even
all these years later so it is what it
is and lessons were learned but I’m a
glutton for punishment and so we decided
my wife and I that we were gonna buy
another one and so so we did and that
was an owner finance deal down here in
in LA and but that we bought the
property with that one which you know
was I think a good move for us and we
have a video on our YouTube channel
about how to create wealth with
laundromats and and we go into a little
bit about how laundromats in real estate
can really play on each other and maybe
we’ll do an episode about that because I
think it’s just one of the most powerful
things that that you can that you can do
with laundromats and real estate
together you could really build wealth
quickly that way so anyways we bought a
second one the second one was much less
painful than the first one however we
you know we still ran into some issues
and one of the issues again was with a
broker and the broker and the seller
both knew that there was a new
laundromat opening just a few blocks
away it was gonna be bigger and brand
new and I felt like I had learned
everything I did such thorough due
diligence I swear to you guys that this
is due diligence after learning those
hard painful lessons at this first
laundromat
but one of the things I didn’t do and in
this process of buying it took almost
six months from when we put in the
offered and when we finally closed and
so I drove the neighborhoods and
everything to you know just see what was
around but when I did that early on in
the process the they weren’t building a
new laundromat but by the end the the
new lot I didn’t do it later in the
process again the new laundromat I kid
you not opened the
that I got the keys and I found out that
day that there was a new laundromat open
so again another painful lesson and it
wasn’t as bad as is this first one but
me and that’s it that’s a tough it took
a took a pretty big hit right off the
bat and I was so excited about it just
to find that out and rough rough stuff
the broker knew about it the seller knew
about it nobody told me about it nobody
told me that I should drive the
neighborhood again nobody told me that I
need to go to the city to see if any
permits were pulled for new laundromats
I yeah a hard lesson but lesson learned
again so you know some people got to
learn the hard way and unfortunately I
am one of those people don’t be like me
and learn those lessons from me and
other people you’ll hear about who’ve
made different mistakes along the way so
very very rocky start
into my laundromat journey so that’s how
I got into a laundromat ownership that’s
a little bit about my first foray into
the business with our first laundromat
in a glimpse of our second laundromat to
you a typical work week for me just to
kind of give you an idea of of what my
week looks like in regards to the
laundromats I’m I’m here at the two
laundromats usually about twice a week
maybe for about an hour each and I’m
coming to just make sure everything’s
kind of functioning and you know
checking the mail collecting quarters
we’re still coin stores for both of my
laundromats so collecting quarters
refilling the change machine paying
employees checking in with employees
making sure everything’s running
smoothly checking this one we have
vending so I’m checking in on vending
those types of things small repairs I’ll
make myself bigger repairs I’m calling
in you know a mechanic to come in and
and fix the machines but that’s that’s
my typical kind of workweek is a couple
hours a couple times a week and you know
I go to the bank once a week to drop off
money or to buy quarters and you know
just be a paying bill I hate paying
bills that’s like my least favorite part
of this job in fact my goal is to have
so many laundromats I don’t know how
many I need maybe just one more actual
like solid rock star laundromat I don’t
know but I want to have enough
laundromats where I can hire somebody
who would just do all my accounting for
me because I really really dislike that
part I do it you know my my CPA
complements me on on that but it just is
like pulling teeth for me I really just
don’t like it so one of these days one
of these days cool so that’s kind of my
typical work week is a couple hours a
couple times a week sometimes like in
fact this week it’s a little bit
different I had you know right now
depending on when you listen into this
but right now we’re in the middle of the
kovat 19 quarantine so I got my
quarantine hair going and you probably
can’t see it on the podcast but if
you’re watching on YouTube sorry about
the hair but what is it talking about oh
that’s what I was talking about got it
it’s a first episode you know it’s
there’s gonna be moments like this so
right now actually we’re in the middle
of this Cove at 19 quarantine thing and
one of my employees here at this
laundromat who comes and cleans I had to
quit due to family issues and so I’ve
actually been I I’ve been coming out
here just once a night just kind of
sweep up and make sure everything’s good
and and to kind of close up the doors
why I’m here live right now for this
episode so I was just swinging through
until I can hire someone and new now
there’s ways
to do this better I understand that I
should have had someone you know as a
backup but I didn’t have that in place
so here I am you know more lessons
learned the hard way get excited about
it so yeah so so that leaves me with a
lot of free time during my week if I’m
only here a couple of hours a week of
course this is LA so I’m pretty much on
the road at least as much as I’m at the
laundromats if not more I’m just driving
around to the laundromats and between
them and home but that leaves me a lot
of time during the week so what I’m
doing is I’m doing a lot about resource
for one and and I also am I broker
laundromats and retail commercial real
estate so I’m doing that and I’m also
just hanging out with my family and
spending good quality time and part of
the journey for financial freedom is you
know go you know having that time to
spend with your family or whoever you
want to spend it with doing whatever it
is that you want to be doing so I try to
do as much of that as possible my family
and I have disney passes which we
haven’t been able to use for a while
which is really sad but when disneyland
is open we’re usually at disneyland
once a week for a few hours after school
we live very close to it and we’ll pick
the kids up from school head over to
disneyland and hang out for three hours
or so and then head home and we do that
usually once a week we usually try to
hit the beach once a week man we just
feel super blessed to be able to do
those things and in part that’s due to
the flexibility of owning laundromats so
what direction am I going with in the
future and you know I had a coaching
call this morning actually in in the
client was asking me that this exact
question and my answer is I didn’t I’m
not exactly sure I use don’t want like a
whole bunch of laundromats and I just
realized you know because I’m a slow
learner we already know this that
that I have these machines and like
right now for example they’re not
running and that means they’re not
making me money and so I started
thinking you know what before I start
scaling up and buying a whole lot more
machines or laundromats why don’t I try
to get maximum use out of the assets
that I currently have and so I’m gonna
be venturing into doing that and and one
of the ways I’m gonna do that I’m kind
of using a little bit of this downtime
during the quarantine stuff
to start a pickup and delivery service
and I’m gonna document that actually for
anybody who’s interested I’ll be
probably putting those videos on on
YouTube so I’ll probably make a little
playlist if you’re interested on that in
that in that journey because I’m not
sure if it’s gonna work or not but I’m
gonna give it a go and I’m using this
time to to launch that and and it’s kind
of counter to what my original goals
were my original goals were to make
these as hands-off as possible and one
of the things I’m learning is you know
when things change you got to kind of
roll with the punches and right now I
think things are changing not just with
this kovat 19 stuff but also uh you know
I just I’m starting to see more people
opt for convenience just generally
speaking over over you know paying less
money to do things themselves and so I’m
gonna kind of jump into a laundromat
pickup and delivery here in Southern
California and just see how it goes
there’s already a quite a few big
players in that here so I don’t know if
I’m gonna be able to make any headway
into that but will document it here and
we’ll see how it goes and and if I ever
do figure it out I’m gonna tell you
exactly how I did it and how you can do
it too I’m just not gonna pull any
punches and I’m gonna tell you exactly
how to do it so that’s a good reason to
subscribe here at the podcast the
laundromat resource podcast and on our
YouTube channel I’ll be documenting it
there too so make sure you check that
out so that’s kind of my plan for the
future
right now eventually I’d love to start
buying more commercial real estate
either that has laundromats in it or
that has space to put laundromats in it
and I’ll probably be putting together
you know some people to to partner on
some of those deals so we can do a
little bit bigger deals together so
that’s kind of plans for the future
let’s talk about you know we’re gonna
get down to business I’ve been asking
people hard numbers on things and and
you know it’s up to them if they want to
answer or not but I’m gonna give you my
answers to these these questions so the
first one is location and where are you
located and I’m here in Southern
California in LA
my laundromats here in LA I live in
North Orange County and so that’s where
I’m playing in this 100 Mac game we have
two two laundromats and one commercial
property real estate property with the
laundromat there and that’s what we have
right now in terms of investments and
our our VIN prices are not the highest
and not the lowest so we run anywhere
from about two dollars for a top-load
machines all the way up to about six
dollars for I think our biggest yeah our
biggest washers are 60-pound washer so
there’s definitely room to to push those
I think a little bit but that’s where
we’re at right now and you know we’ll be
looking at that kind of going forward
two turns per day this beauty of a
laundromat here does between two and a
half and three turns a day and you know
if you’re in the industry you know that
pretty much is about what it costs to
run a laundromat and so this one
basically just breaks even for me it
makes me some money a little bit of
money you know every year
for the last couple before that I was
losing a lot of money so in some ways a
man we’re in good shape but in other
ways it’s not doing what what I would
love for it to do my other one does a
little bit better between three and
three and a half turns a day and you
know nothing spectacular and just
probably right in there about the
average of what an average laundromat
does so no superstar laundromat owner
here sorry about that but that’s why I’m
bringing some of you guys on to tell us
how are you getting those four five six
eight turns a day some of you guys are
doing so I’d love to hear about that
again laundromat resource comm slash
podcast guests if you’re interested in
coming to spill your secret sauce which
is actually the very next thing that
we’re going to talk about
[Applause]
[Music]
what is my secret sauce what is the one
thing that’s working well in the
business right now and the other owners
can utilize to improve their business
now here’s here’s one that I’m gonna
give a couple things here’s one thing
that’s actually working really well at
my other laundromat this my first
laundromat the one I’m recording in
right now is an unattended laundromat my
other one is attended and one of the
things I’m doing it at my attended store
is I I took out all the vending machines
over there I have vending machines here
but I took them out over there and I
just dedicated a corner of the
laundromat to be a store and I just put
in some shelves a little window in a
wall and and it’s kind of like a little
mini convenience store and I know some
laundromat a lot of rats do this but I
don’t see a whole lot that are utilizing
it as to the extent that I’ve been using
it and it’s really brought in a lot of
income surprising amount of income
actually and that one actually has a lot
of potential to grow as well but it’s
doing you know almost a couple hundred
dollar or it was until the quarantine
stuff happened but almost a couple
hundred bucks a day which is not
insignificant and you know profit
margins are are you know about forty
percent on average for that so that’s
pretty good for that and I just mean
we’re selling you know different kinds
of detergents and fabric softeners and
you know the you know uh like the dryer
sheets all those things but then we’re
also selling candy and we sell like
chips and frozen burritos and sodas and
ice cream scoop to ice cream cones and
you know just stuff like that uh the cup
of noodle soup is like money people love
that stuff you buy it for like a quarter
and you just sell it for a buck with
some hot water and people love that
stuff they eat it up all day so there’s
a little secret sauce right there is
if you have an attended store and you
don’t have a store in there and you’re
willing to either find somebody to come
bring you you know the stuff for you to
sell or you’re willing to go to like a
wholesale store or even just like a
Costco and buy stuff to sell in your
store in bulk and then sell it
individually there’s some real there’s
some big room in there for you to make
some money so that’s one thing that I
think is working really well
another thing that’s working really well
is having a really solid website and I
know that can be kind of scary for a lot
of laundromat owners because you know so
many laundromat owners aren’t tech savvy
they you know building a website sounds
so intimidating and it really can be I’m
actually working on a course on how to
build a a laundromat website it’ll be a
free course I’ll let you know when it
comes out but I’ll show you exactly how
to do it but we also if you’re
interested in us just putting together a
website for you you know you know again
Lonmin resource calm and just tell us or
on any of our social media account
accounts just send us a message and just
say hey I’m interested what would that
look like and we’ll just talk through
we’re not gonna do we’re not going to
charge you a ton of money for it cuz
it’s really not that difficult there’s a
little bit of work and so there’s a
little bit of cost to it but it’s not
you can spend a lot of money on a
website but this little website or this
little laundromat here my first one our
website ranks number one on google for
you know laundromats around in this area
so that’s something that’s working
really well we get a lot of traffic
pairing it with our Google my business
account and people can find us and find
our business online when they’re new to
the area or they’re just looking for a
laundromat in fact we got a lot of
business when this kovat Nate team thing
started because a lot of people who
don’t normally go to laundromats wanted
to wash all of their stuff and so they
just searched laundromat near here near
me and this laundromat is number one
in the search query so a lot of people
came here and so business actually went
up a lot our first couple weeks of this
kovat 19 thing so that’s my second
secret sauce number one introduced a
store if you haven’t attended laundromat
and that can really bring in a lot of
extra money and number two have a good
website it can be very simple this
website is very very simple in fact it
only has two pages in about page and
just the home page with like basic
information on it but you can still set
it up to where it’ll rank really high
naturally organically on google and
people will find you that way so that’s
my other secret sauce go to the next
section which I like to call Pro tips
[Applause]
Pro tips is this what’s one piece of
advice you would give to a new investor
who wants to buy their first laundromat
and I think this is a great question I
think you’re gonna love the answers that
that we’ll get as I interview more and
more owners but here’s my one piece of
advice and I kind of already mentioned
this but my one piece of advice is have
someone that you can speak with whose
income does not depend on you buying a
laundromat that can give you good solid
advice that can look over numbers for
you that can tell you if something
doesn’t sound right or something doesn’t
look right because you don’t know what
you don’t know at first so find a coach
or a consultant who can help you through
that process at least for your first one
I know it’s an extra expense but believe
me from my own experience that expense
will be minuscule compared to the
potential loss that you could suffer by
not having a consultant help you through
the process I if I could go back I would
pay literally thousands of dollars to
have somebody tell me don’t buy this
laundromat here’s a better one that you
can find or let’s go find you another
one and this one is not a good one it
would have saved me a ton of money so
that’s my that’s my pro tip to new
new investors ii protip question is this
what is one resource that you would
recommend to help investors move forward
with their financial goals and I think
this is an awesome question again I
think you’re gonna love the answers to
to this question from all the owners
that I that I’ve interviewed so far and
that I will interview and here’s my it’s
hard to narrow it down to this is just
one thing obviously if the one resource
that I would recommend is a laundromat
resource calm but in all seriousness I
have learned a ton a ton ton about
business and real estate investing by
doing this one thing and it’s free
here’s what it is maybe you’ve heard of
it maybe you already have this but it’s
an app on my phone and it’s called Libby
Li BBY and basically all that is is an
app that you connect your library card
to this app and by connecting your
library card you have access to all of
the digital books that your library has
both that you can read and that you can
listen to and for me I have both read
but also especially listen to 50 to 60
business investing and personal growth
books every year for the past five years
I’ve just absorbed an incredible amount
of information using this app and all of
it was free
Libbie app li BBY connect your library
card to it and you can go down and in
borrow books and borrow audio books and
I listen to audio books while I’m
driving I listen to podcasts while I’m
driving and while you know I’m I’m
exercising all those things I am just
absorbing information that way so if
your
someone who’s wanting to learn more
about business wanting to learn more
about investing wanting to just grow
personally the Livi app is my one
recommendation check it out and then let
me know what you think about it if you
don’t have it yet or if you do have it
let me know what you think about it
because it’s definitely been
life-changing for me all right well the
best way to connect with me if you have
questions or you want more information
or you just want to set up a time to
chat the best way to get ahold of me is
through laundrymat resource comm slash
contact or again any of our social media
channels you can send me a message and I
will get those and get back to you so
check it out there my email if you have
questions Jordan at laundromat resource
com that’s Jo our da in at laundromat
resource comm so you can send me an
email there again thank you guys so much
for listening to this podcast episode I
hope that you gain something from it I
hope that I didn’t ramble too much but
if I did and you weren’t super psyched
about this episode check out the next
one coz the next couple I have already
lined up and have already recorded –
amazing amazing guest or laundromat
owners just like some of you guys are or
wanna be and they have awesome insights
for you one’s a longtime owner with
multiple stores and one is when we
recorded the episode he was brand
spankin new like three weeks into owning
a laundromat and just having that
perspective and that that freshness and
that excitement
man it was just infectious that was Toby
from from Australia and if nothing else
you can just enjoy sweet accent so check
those episodes out before you decide not
to listen it anymore but again thank you
so much for listening I had a blast just
sharing my story with you I cannot wait
for you to hear more about the rest of
these owners that that I
interviewed and that I’m gonna be
interviewing in last time if you’re
interested in being on on the podcast
and being interviewed lotterman resource
comm slash podcast guests can’t wait to
see you in the next episode we’ll be
posting every single week so make sure
you subscribe and we’ll catch you in the
next one
alright this is Jordan from laundromat
resource calm and the laundromat
resource podcast and I am out of here
SIA
[Music]
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