PayRange Acquires Turns: The Future of Laundromats with Sukanth Srivastav

Jordan Berry [00:00:00]:
Hey. What’s up, guys? It’s Jordan with the Laundromat Resource Podcast. This is show one eighty four, and I’m pumped you’re here today because today, we have Sukhant from Turns back on the show. Genuinely, it’s always one of my favorite interviews. Interviews. He brings so much knowledge. I love the way he thinks about this business. But today, he’s come in with a huge industry rattling announcement, and I can’t wait for you to dive into what this announcement is with him and with me and with all of us, and here’s some of the implications on how it might affect you either directly or probably will affect you at at the very least indirectly in very awesome ways.

Jordan Berry [00:00:41]:
Super excited for you to hear this one. Good stuff is happening in this industry. And listen, we got to stay on top of it. All right. So today you’re going to hear all about this breaking news and let’s get after it. Okay? Let’s utilize these things that people are building for us to serve our customers better, to transform communities, and to put money in our pockets so that we can build the lives of our dreams. That’s what it’s all about, right? All right. Let’s jump into it.

Jordan Berry [00:01:08]:
Straight into it with Sukhant. So that way, you don’t have to wait for anything. Here we go. Sukhant, how are you doing, man?

Sukanth Srivastav [00:01:18]:
All well, man. I you’re my you’re my first influencer. I you’re I I’ve been following you since all the people came in. So I feel like I’ve known you for a long time, but whenever whenever I have to whenever I have to, like, you know, you have to spread, rumors. You have to tell the best friend. You are my best friend to tell people any of the great things in in and you spread it out evenly. Like, you have lovers everywhere. You have even people following you in India, man.

Sukanth Srivastav [00:01:49]:
You’re like, look at your YouTube comments. People are asking.

Jordan Berry [00:01:53]:
Yeah. Well, hey. Listen. I appreciate that. And, you know, with that said, let’s let’s let’s drop a bomb here. You’ve got an announcement to make. You’ve got some gossip to distribute, so let’s distribute it. What’s going on over there?

Sukanth Srivastav [00:02:06]:
Well, now returns is working with Payrange. We were working in a partnership. Now we are completely acquired by Payrange. We get to access all the American horsepower, all the mileage. Now we get to build a very fast product. We’ve been great at software. I think PayRanch is one of the most innovative companies in US in terms of laundromats in hardware. I think they’re perfect for this.

Sukanth Srivastav [00:02:33]:
And both our teams now have worked together, so now have a clear understanding. I love the parents team. I love that they’ve been able to break out in this very competitive industry with such little resources. They’ve been there for almost a decade. Parais is some people is one of the people that I look up to. And I believe that this gives us the opportunity to now take on people and bring organized chaos. Like, I’ll we’re gonna build so much software. We’re gonna build so much hardware.

Sukanth Srivastav [00:03:04]:
We’re gonna combine it so much better. It’s gonna be so drum. It’s gonna be so fun. I I’m loving this.

Jordan Berry [00:03:13]:
Yeah. Well, I mean, we were talking before before hitting that record and you were talking about, Hey, we’re we’re excited. We’re going to be trying a whole bunch of different things causing all kind of chaos. And, you know, you just had the biggest grin on your face. And I love that, man. I love, you know, the idea of this, this this merger, this acquisition of pay range and turns, kind of coming together to, you know, try some new stuff to innovate, some new stuff to integrate things and to try to help laundromat owners achieve their dreams. We were talking about that before hit record two of like we’re both just super excited about trying to help people achieve their dreams through the vehicle of laundromats. And you know, we’re both doing it in very different ways, but, I’m excited about the little twinkle you have in your eye right now.

Sukanth Srivastav [00:04:06]:
Laundromats are I I feel like Laundromat operators are smart. Like, that’s why I love this community because I get to come here and actually tell them that we are the smart people. And, like, it’s it’s a very famous line by the like, by by a Russian poet, Dostoevsky, that all the terrible people are great together. And and we are great together because now we are we are different because we didn’t start restaurants or we didn’t start the easy ones. We took a way which is weirder, which people anybody who hears for the first time, hey. You own a laundromat. They’re like, okay. This is different.

Sukanth Srivastav [00:04:43]:
Like, it’s Yeah. It’s not a normal reaction if you would say, I own a restaurant. I own a taco store. I I own the like, people I I worked with a salon. They’re like, yeah. You’re of that type. But laundromat operators, fifty percent of them, they are in you, like MIB people, men in black. You can never know a laundromat operator from a non laundromat operator.

Sukanth Srivastav [00:05:03]:
They’re always among you. And somebody owns all those good properties that people are not able to buy and are making so many requests for. So I love laundromats. Laundromat operators and dry cleaners across the globe are similar. I get to work with them. I get to be a part of a great community. And this is, I I genuinely believe this is an underserved we are an underserved community. And there are people in this community which can do something about it, so why not? Like, why should restaurant guys have all the fun? Like, we can build so much stuff.

Sukanth Srivastav [00:05:41]:
We can make this industry look so sexy and attractive by actually moving fast. As I was telling you, this industry has had people working for it for years and generations. Like, I I would like to pass on my respects to the likes of ESD, FastCard, CCI. They’ve been there for decades who have worked very hard, even Payrange, who have given decades to this industry. And it needs resources for somebody to break out and build out the fast hardware and software changes that are responsible. And this is where the future is moving towards, and I think we lean back on them. We lean on their great works. But I think the time is now for us to build faster stuff, is to build new stuff that gets people excited into the industry.

Sukanth Srivastav [00:06:30]:
I think there is a renaissance of now sort. This renaissance, by the way, happened outside the world two years ago, like, just before COVID. I think this has happened a bit later in US, so now it’s, like, become too big. They and it’s because everybody was seeing which industry has customers which do not leave. And you would realize laundry and laundromats and dry cleaners are people who have relationships for generations with the same property, with the same. Thing. If you go to so many reviews of laundromats, people actually say, hey. I was young, and I used to come to this laundromat.

Sukanth Srivastav [00:07:08]:
And now I’m old. I still come to this laundromat. And uncle has sold this to a new guy. I’ll be your patron. Like, in which business do you get this? 90% of the food businesses are dead after a generation, a generation and a half. It’s impossible to pass it on to three generations. That’s why there are only a few McDonald’s type of franchisees left. So and in this industry, 50% of the laundromats still don’t accept card.

Sukanth Srivastav [00:07:39]:
70% of them understand that, you know, to do wash dry food, but are not able to go full in because and that’s because there needs to be an architecture of people leading the way and technology absolutely flowing through it. Like, the I’ve I have always felt in a class, most of the people who pass are usually where it’s not just the guys at the best who are studying. It’s the guys in the middle who want to work hard too. And there is a lot of opportunity here. I get to work in this end. I get to work with Peringe into tapping all those laundromats and trying to bring them to the next stage and bring more money into this ecosystem. I I genuinely believe that there is great times ahead for this industry. There is a lot of shakeup that’s gonna happen.

Sukanth Srivastav [00:08:32]:
Obviously, the industry has been slow, and that’s why all all the laundromat operators now look smart. Because they bought in when they saw it was slow. And everybody who’s buying right now probably is still not buying at peak. Like, this is my opinion.

Jordan Berry [00:08:50]:
I agree with that. I agree.

Sukanth Srivastav [00:08:52]:
Still not peak. There is still peak left. And and it’s still smart to get into this industry. I think the smarter would have been to get into this five years at least.

Jordan Berry [00:09:04]:
Yeah. No. I I agree with that too. And, you know, obviously, you know, it’s like similar to real estate, right? You look around, you’re like, man, I should have I should have bought right before COVID when interest rates were low.

Sukanth Srivastav [00:09:14]:
It looked so smart then, right? Like, the clean in all the equity and all the Facebooks and all the Google and everybody was so happy. But finally, the realization is that Laundromax, dry cleaners, these are hard stored businesses. They are gonna stay for a long period of time. Yep. There is no usually going away of this. And people might think that, hey, laundromats are commodity. I don’t think so. Like, even out of 10 laundromats, only five laundromats do well.

Sukanth Srivastav [00:09:44]:
That shows you that there is appreciation for service. There’s appreciation for an eye. There’s an appreciation by the customer. They’re not ready to eat all the shit that everybody is ready to produce. So if you have to work towards that idea, if you have to build more specialization, it means you have to work on it and it means that you need to have partners who can actually do that for you. And here we are. I think that’s it’s it’s it’s it’s a good time to be a smart guy in laundromats.

Jordan Berry [00:10:13]:
Yeah. I agree. And, you know, it’s funny because, I mean, you mentioned, like, there’s so many laundromats that don’t do well. And, you know, 99 times out of 100, you know, I or really any probably anybody listening to this can walk into a laundromat and have a pretty good idea of if it’s doing well or not. There’s a there’s there’s a lot of things in common that the successful owners, you know, have that that struggling owners don’t have in common.

Sukanth Srivastav [00:10:42]:
Like it’s a rolling hill. If it starts to go bad, it will go worse. Like, you lose all your money, dude. You’ll not lose some money. You’ll lose all your money. But if you start making it, you’ll make double of your money. Five times of your money in a very small in a small, small, large span of time. And so, yes, I think there has to be care for it because this is the time.

Sukanth Srivastav [00:11:08]:
I think there is peak to be had. We are probably at 25%, thirty five %. Like, I I genuinely believe 65 is still left. I know people who are in this field that, hey. It’s already so expensive. I think people will appreciate, stable revenue far more in the future than they have till today. With all the technology that’s going in, with all the technology that’s coming in, nobody knows where the next future revenue is gonna come in. And if you have a laundromat and it has stable revenue, that’s probably closest to gold you would have right now.

Sukanth Srivastav [00:11:43]:
So, yes, we are still away from p.

Jordan Berry [00:11:46]:
Yeah. I agree. I I was starting to say, like, it reminds me of, like, everybody’s like, oh, I should have bought real estate in the nineties when it was basically free. And now, you know but I feel like we’re still kind of in the nineties of laundromats here. Right? Like, I there’s prices have gone up. Yes. It’s not the seventies of laundromat of real estate anymore. Right.

Jordan Berry [00:12:05]:
But it’s still the nineties of laundromats where there is still value to be had both in the cash flow side and equity.

Sukanth Srivastav [00:12:14]:
I would genuinely say this. Like, I see a lot of people commenting on how much a laundromat should be worth and everything. Dude, if if if it doesn’t make me money, why would I sell? Like, you have to go sadly, it’s an this is my opinion. I might be a % wrong. There are there you should walk out of probably a thousand deals before making a wrong deal, but then you’ll probably never make a deal. Like, if it’s if it’s gonna be such a hidden gem, dude, it’s very hard to find hidden gem. Gem. Like, that’s that’s why it’s rare.

Sukanth Srivastav [00:12:45]:
And a laundromat income being given, like a laundromat business, not the real estate. The laundromat business being given a multiple of two x, three x. Like, real estate is being given given much more more, multiple than that. Why would you give somebody who has actually created a laundromat lower or an equal vertical? A real estate is completely passive or mostly passive. The laundromat is much more unpassive if you want to grow revenue than a real estate would be. So I see a correction there. I see an arbitrage there, and I I see anybody who like, more people who have rich who have more money to invest would appreciate this. So, oh, I see that’s why there is a lot of space still left.

Sukanth Srivastav [00:13:30]:
That’s why this is still nineties, as you were mentioning. Like, for some places, for some restaurants, this is 2020. Nobody knows what’s gonna what’s gonna, like, is taco is a good taco place today going to stay a great taco place after five years when all the cooks have gone and the founder has made their money and sold to private equity? No. But a long run, I can’t because where would everybody else go? So stable income, best income is gonna be more valued if you can still get into the industry, if you can still make sure that you find not a hidden gem, just a gem in general, you’ll be good. I think you’ll make money.

Jordan Berry [00:14:08]:
Yeah. And I I mean, I talk to a lot of real estate investors right now who, you know, are buying real estate happy with a 7% return on your money. And you can do much, much better than that with laundromats. And, you know, I’m seeing I’ve been seeing I don’t know if you’ve been seeing, but I’ve been seeing I talk to people all over the place and analyze a lot of deals. Right. And those multiples have been creeping up more and more and more. And, I think. That’s going to continue, going forward because it it just and and especially as, like, things like this pay range turns thing, you know, happens because when that happens, guess what? You’re making it easier for me as an owner and an operator to operate my business, to own and operate multiple in multiple locations, even remotely, or to manage a staff that’s managing multiple businesses.

Jordan Berry [00:14:58]:
Right now, all of a sudden, you’re making it easier for me to grow that business. And the more I do that, the more valuable and attractive that becomes to a sophisticated investor or business owner who might wanna come in

Sukanth Srivastav [00:15:12]:
and buy that. Investment, the in like, what we’ve seen across ages is that it’s getting harder to build a stable revenue. It’s it’s it genuinely is like today, it’s harder to build a smaller business than a big business. Mhmm. Like, it take it probably would take the same amount of effort. If you want to go higher, it takes the same amount of effort. If you wanna go low, you’re gonna have the same hours. You’re gonna have the same commitment.

Sukanth Srivastav [00:15:41]:
Sadly, you’re just gonna have a lower payoff. So the idea is to be on the other end, not on the guy with this with the other end of the stick. So in my opinion, this is gonna creep up. This is always gonna creep up. Real estate is real. Business is real. It’s real. It’s it’s not it’s not speculation.

Sukanth Srivastav [00:16:01]:
It’s not, okay, this may go big. This is gonna be real. This is what you’re serving real people, serving real part of community. People want their lives to become easier. I think America is slowly realizing to the fact that, yes, life can get easier if you pass on some of the work to other people. It’s getting to that direction where it’s becoming more of a service economy. And this is the direction everybody’s going. Like, in restaurants these days, a full service restaurant versus a non service restaurant, you can actually see the difference in sales.

Sukanth Srivastav [00:16:37]:
You can actually see physically where you would go. So you need to make a laundromat a place where you would want to go Mhmm. And get that number in line. And I just hold on for the ride. I think every laundromat operator in US, probably in the next five years, is gonna get three acquisition op, at least. It’s their choice. They get the right one whether they want to sell or not. 99.9% of the businesses in US will never have this offer.

Sukanth Srivastav [00:17:08]:
Nobody wants to buy a restaurant easily because they know once Robin is gone from the restaurant, there is no more restaurant.

Jordan Berry [00:17:15]:
Yep. And it’s a hard business. Restaurants are hard business. Hard industry.

Sukanth Srivastav [00:17:21]:
Restaurants. Like, even salons. Like, they come in with the idea that that and that’s what I’m saying. Like, the idea that a laundromat operator gets five bids on their business is astronomically different because 99% of the people can never exit the business. Like, this is a business where you can come in and can choose where to leave. The rest of the businesses are Hotel California. You can just use to come in. There is no way you can leave.

Sukanth Srivastav [00:17:49]:
You can leave if your kids wanna do the same thing. Look at how many look at why dry cleaners died. Dry cleaners died because the next generation did not want to pick up the heavy effort that they had to do. Where did that money go? That money went nowhere. Now what I see is most of the dry cleaners who died, died, but the ones are left are making 1.5 times the money. One point is the money. So Mhmm. Anybody who wants to stay in the business is gonna make money if they and it also has a place where you can leak.

Sukanth Srivastav [00:18:21]:
Like, there are very few roads in America which will give you this opportunity to have an exit and have an entry.

Jordan Berry [00:18:27]:
Yeah. Just yesterday, I was talking with a buddy of mine who owns a couple a few laundromats in Seattle area, and he was just saying, hey. I’ve got a seller finance deal, and it’s got a balloon payment coming up. I’m thinking about maybe selling one of my laundromats, to pay off that note. Like, I don’t really want to go with the broker. How hard do you think that’s going to be? And I was like, I could probably send one email right now and get you multiple offers because it’s an unattended laundromat. It’s netting good money, you know, 5 figures plus every month and, and is already set up. It’s turnkey.

Jordan Berry [00:19:06]:
And I was like, I don’t think you’re gonna have any problem selling that thing, at all for a good a good multiple.

Sukanth Srivastav [00:19:13]:
And and the fact is everyone knows this. Like, any smart operator now in the business understands this. And it’s a patient business. Like, you can’t be impatient here, like, obviously. And I’m a I don’t want to be the laundromat guru, but I’m just saying from a tech perspective also, for me also. Building hardware and software takes some time, but the intention and the direction should be consistent.

Jordan Berry [00:19:41]:
Mhmm.

Sukanth Srivastav [00:19:41]:
I think Laundromat is the same kind of business. That’s why I love Laundromat and SaaS software because it’s very similar. The margins are pretty similar. Once it’s paid off, the amount of money that you can make is amazing. Like, once I build the product to an extent, then the next set of improvements consistently keep keep becoming lighter in in in vain. There are very few businesses which give this opportunity. And Yeah. Laundromat operators need to understand that not only they, but everyone would probably pay for this is paying for it today also.

Sukanth Srivastav [00:20:15]:
Like, sometimes I hear the multiple per multiples for which the loan from my go. I also think is this peak, but that’s where you can go. That’s where I think more and more organized finance will come in. It’s already coming in. And those guys those guys see a lot more deals than any of us. If they see that the multiples are rising and growing and they’re okay with it, trust me, we should be okay with it. We have a lot less riding on it than BlackRock would be.

Jordan Berry [00:20:45]:
Yeah. They’re not okay with it. They’re excited about it because the multiples now are they can’t you can’t find another business like that. And what’s interesting about our our business right now is that, kind of like you’re saying, this has been like a stable business forever, slow to change, not just in technological development, but they tend to be slow to grow. And, you know, growth has been slow. But what’s you know, as opposed to maybe like a restaurant, a restaurant could hit it could get super popular and, you know, hit gold for a while and it’ll have its run. But then eventually that’s going to fizzle out. What’s unique about right now and what’s interesting about this merger, this acquisition between, you know, PayRange and Terns right now is there kind of is a little bit of a gold rush happening right now in our industry, which hasn’t happened ever, maybe, with the pickup and delivery and the drop off service where there’s a lot of bit we’re scratching the surface right now.

Jordan Berry [00:21:43]:
There’s a lot of business to be had and to be won right now. And I think the owners that jump in, start utilizing this new technology, you know, to to build these businesses, along with their sort of savvy business practices, right, are gonna build a really solid foundation there and are really gonna be able to capitalize as this thing. I mean, we’re seeing growth like this. And at some point here, I think it’s gonna hockey stick on us. And the people who were set up well are gonna do really well when it really hockey sticks.

Sukanth Srivastav [00:22:16]:
I genuinely feel this is gonna go exactly like dry cleaners. I think dry cleaners, what you would see is that there are fewer number of people owning a lot of stores and making a lot of money and being full service being a full service business. Like, I understand there is a passivity to laundromats, and there are always gonna be passive operators. But those passive operators are gonna eat or probably sell on the highest multiple. And anybody who’s buying at that multiple, dude, has to be modern. You cannot buy a passive laundromat and stay passive because then you lose money. And as I said, once it rolls down, it will roll down. It will it will roll down even faster, probably.

Sukanth Srivastav [00:22:57]:
So the idea is that if you buy a laundromat, you have to be set up with the way that the next guy who’s gonna buy is gonna be the guy who’s paying the maximum for it. And there as you mentioned in in in restaurants, the best business for a restaurant is at the start of the restaurant. That’s when they make the most amount of money. Usually, after three years, a restaurant sales has fallen down because people who have tasted it, there is no novelty factor. There are few people. A lawn nomad should be at its peak and the third year because now more people know of. Now more people have chosen the service. Now more people want to avail further.

Sukanth Srivastav [00:23:37]:
So this is a business which will always go in this direction. There is never this direct if this goes in this direction, this is death. It’s very hard to replace this direction. So a laundromat is always gonna keep growing at a slower pace, so be it. The fact is everybody’s realizing that profit at all cost is gone. Like, it’s gone. Like, there is so much money being cut in America, like, where which was spending it for all costs. So that behavior is changing across the globe.

Sukanth Srivastav [00:24:12]:
Everybody wants to have a sustainable number. Everybody wants their employees to feel safe. Everybody wants their employees to feel that they’ll have a job tomorrow. This is not a higher pump and dump ecosystem. And stable is gonna become the new sexy. And when stable becomes the new sex and it is already valued.

Jordan Berry [00:24:31]:
It’s already

Sukanth Srivastav [00:24:32]:
It is the sexy. Yeah. Like and you it’s gonna bring sexy back even further. Like, more stable it is, the better it is gonna be it’s gonna be valued. And you might see in future a Laundromat valuation number, which is double of Laundrom of other businesses. Like, I I genuinely see that number coming up.

Jordan Berry [00:24:59]:
Yeah. I mean, I’ve I’ve already started seeing it. I’ve seen self serve laundromats without drop off doing more business than I’ve ever seen before. And then when that’s added, to it, like, it’s happening like it’s this is not like a off in the future thing. This is something that’s happening right now. And that consolidation is happening right now where fewer owners are owning more locations and some locations are just going away. And they’re not And

Sukanth Srivastav [00:25:30]:
Tite came in with a 200 location in a year. He goes just and that’s one. So that’s they’ve become the biggest player by just opening it in a year. So if Tide finds even 50% of the success, just think how many people have that sort of cash lying around for in America for this kind of a fun experiment. So there is and by the way, I’m on the I I work with Tide on the other side. So they keep buying dry cleaners left, right, and center. Because whichever lawn dry cleaner does well, they buy. And I could see this happening in in this ecosystem also.

Sukanth Srivastav [00:26:10]:
Like, to dominate any location you would want to, dominate any any specific areas, you would want to be in the best business. You would want to have a business which is working. And private equity or people with money don’t buy mind paying money. What they mind is the validity of that business. You are able to prove that you are what you are. You paid you get paid more than what you say that, hey, I am the best, but I just don’t have numbers to prove it. Everybody will give you a lower valuation. Like, nobody will give you that money just on based on your word.

Sukanth Srivastav [00:26:42]:
If you can prove what you are, I think there is always more money to be had. Yeah. Like, I’m very sure you would do that.

Jordan Berry [00:26:49]:
Yeah. I mean, I I’ve been saying for a long time, like, anybody who’s skimming off the top right now is just shooting themselves in the foot long term. Right? Like, there’s there’s I see the appeal of that. But, you know, if if you’re if you’re able to demonstrate the performance

Sukanth Srivastav [00:27:07]:
of this able to see the appeal of that. Like, these are smart people. Just look at the real estate ecosystem and valuation that has resulted. If would it have made sense to skim off money on real estate and not keep it up or sell it for five times more money? Like, how is it it doesn’t make any appeal to me anymore. No.

Jordan Berry [00:27:26]:
I yeah. And I think it I mean, people have done that in real estate, right, like, for a long time. And and people started seeing, like, that’s not a good business, Brad. It’s not even in my own best interest, right, to do that. And I mean, in fairness, I see a lot more laundromat owners doing things above board and above the table and keeping good records and all that stuff than I did even five years ago when I started doing consulting and helping people analyze business. But there’s still so many owners that are not they’re not operating that way.

Sukanth Srivastav [00:27:59]:
I’ll be very honest with you. I see in the next ten years this market fundamentally changing because people who are skimming will sell. People whoever are skimming right now, their money is not gonna be enough because skimming would mean that you, anyways, are not able to offer the most ecosystem way or most technology forward way. You’re trying to make sure cutting cost, trying to cut corners. Somebody’s gonna come to you. He’s gonna say, hey. It’s been great. You have been skimming money.

Sukanth Srivastav [00:28:30]:
I’ll give you a three x multiple. Mhmm. And you’re gonna take that money because you’ve been cutting corners and know from your heart it’s not five x multiple. And then that guy is gonna modernize it and sell it for five x. And you’re gonna feel, dude, that he did what I should have done. Yeah. It’s gonna it’s gonna finally come up to that kind of an ecosystem.

Jordan Berry [00:28:48]:
Yeah. I mean, he’ll probably sell it for more than five x. I’m seeing a lot of markets. They’re starting at five x right now.

Sukanth Srivastav [00:28:54]:
So Like, just imagine if you skimmed off $50,000 to lose $500 and, like, feel bad about it that, hey. I was the custodian who actually built up that value, who built up the trust that this is laundromat. It’s gonna stay in this community. I did all the effort for twenty years, and then a guy came in and in four years made double the money that I did for keeping the property warm for him. And smart people are looking for such properties. You might actually feel that, hey, you’ve been you’ve made a great deal by getting five x on your laundromat, as you said. And it might turn out to be not the smartest deal even in that case.

Jordan Berry [00:29:35]:
Yeah. Yeah. So real quick, just to anybody out there who’s listening that’s maybe like, oh, man. That’s me. Here’s a solution for you. Instead of skimming the $50 off the top, spend five of it on a good quality tax adviser who can help you develop a tax strategy that’s gonna offset that $50 of income anyways in a legal above board way, keep the cash flow the same, and maintain the value of your business. And that I mean, that’s the solution. That’s what savvy business owners are doing right now.

Sukanth Srivastav [00:30:07]:
I I do everything that, upper guys have been doing. Like, more on like, I genuinely believe that organizations goes from top to bottom. Like, the people who have had money, billions of dollars of corporation money, hire tax advisers. So a businessman which makes a hundred million understands that, hey, the billionaire is doing a tax adviser. Maybe I need to do it. Earlier tax advisers used to be costly. I think we are in the age of golden age of technology disruption now. I think you would find, even if not the best, but probably a directional tax advice.

Sukanth Srivastav [00:30:43]:
You can find anything that you want right now. Go in that direction. You just need to feel that you need to do it. And as you said, skimming destroys one thing that I love about round robin business is the optionality. I don’t like it tomorrow, I can sell. Skimming completely destroys that reputation. If that reputation has come across, comes across from a location that, hey. Nobody knows what this location does.

Sukanth Srivastav [00:31:12]:
Nobody’s trying to buy it. The owner is finicky, and it might look weird. It’s gonna make the biggest sale of your life that the one that you’ve been trying to make from that laundromat more harder, and it makes no sense for me to do.

Jordan Berry [00:31:25]:
Yeah. Yeah. I agree. Okay. I want to go back to the core of this thing here. We’ve got pay range and turns coming together. Can you talk, like, what are the implications for laundromat owners? What does that mean for us? Why should anybody care about this?

Sukanth Srivastav [00:31:44]:
50% of the laundromat operators still do not accept card in this ecosystem. And about 60% of the operators who do wash, dry fold are trying wash, dry fold, but are not, like, seriously invested into this or has have created a process. As you mentioned, it’s our job to give them an ease with which they could deploy, with with which they could do all of this as as fast as possible, as cheap as possible, lowest barrier cost of entry. I know I feel I know why 50% of the people never had to accept cards because card acceptance is expensive. Like, somebody who has bought a lot from ad for $70,000, it’s hard for them to say $40,000 is extra just to get the card acceptors on. And that’s why we love PayEdge. Like, that’s that’s one of the first reason that I when I when I started turns, I I was not into hardware. I I am a software guy.

Sukanth Srivastav [00:32:42]:
I I started to be into hardware because of our operators who were there. They were asking me. They were telling me different feedback. And I when I see PageRank, I realize that, hey. This is again a hidden gem. That’s why, like, they were given a great round of appraisal right now. I think they were given a great appreciative value. They were given a big investment.

Sukanth Srivastav [00:33:04]:
I understand because this is a hidden gem. At the end of the day, what 5,000 or $50,000 of worth of card system could do for you, you could do digitally for probably $2,000. And I understand someone might say that $50,000 is like a Cadillac. But you don’t need to go everywhere in a Cadillac. Like, that’s that’s the like, that’s what I feel. Like, if if a line scooter can do, why do you need to bring out the big gun everywhere and and pay for that big jet everywhere? So it’s a simple, now fully featured solution. Like, if you want to go ahead from pay range, probably invest further into card solutions, we We are already having card solutions that are coming into this ecosystem. And, otherwise, the solution is so cheap, it’s so effective, and it’s so simple that it makes no sense for me to not try.

Sukanth Srivastav [00:34:01]:
So I genuinely believe 50% of the people who are still on coin should it should be 0% of the people who do not accept card. All 50% of the people should at least spend just a thousand dollars, or probably we’ll make it easier for them to just accept cards. And and I’ve been to so many operators where they tell me that, yes, like, the biggest benefit of payings that I also see, and I I might sound like an older guy, is that I know there is a space for coin always in laundromat. Like, I know there are people who would say, what kind of a rubbish opinion is this while selling a modern technology ecosystem? But the truth is I it’s a very realistic expectation. Like, I’ve gone to laundromats. I I am one of those operators who’s looking for coin because I don’t want to keep buying I’m a traveler. I don’t want to keep buying tons of different laundry cards for 10 different locations, which I’m just visiting once and leaving my money there for them to be claimed as float. Like, for most of the in in most of this is not great consumer experience, like, from from any perspective.

Sukanth Srivastav [00:35:19]:
With parents, you can be on coin always. Like, there are gonna be people who are always gonna be on coin, and there is no need to piss them off. You get to have this as an additional option that anybody who wants to make it easier for them not carry that 20. If it’s $12 on the 80 pounder, you don’t get to pound that 50 coins up one after the other just to start that machine. I think there is a lot of appeal for this. And the reason why this 35 to 40% has never gone is because $50,000 is a lot of money. It’s it it is a lot of money. Mhmm.

Sukanth Srivastav [00:35:55]:
And I think there is a very clear niche for us. I and and by the way, this is this is what makes me even happier because we don’t I don’t think so we’ll compete with any vendor because the p p the people who are on full card ecosystems are on for a different kind of a ride altogether. They understand the implication. I see very few people who have mega investment into card pulling that out, ever. But I’ve also seen zero amount of people pulling out pay range also. It’s it’s low, Considerably low the even when the barrier of entry is low. Because it becomes an easy for way to for you to accept cards, and I think there is a big population which needs this. And here we are.

Sukanth Srivastav [00:36:43]:
We’ll be there.

Jordan Berry [00:36:46]:
I love it. I love it. And, you know, like, the I I think one of the the downsides to a lot of these ecosystems has been the lack of integration of, a payment system with a software to help you manage your business. And, having another player kinda in that game is only gonna benefit, us as especially as you get that little twinkle in your eyes and you’re like, hey. I’m ready to sow some some good chaos to try a whole bunch of different things and see, you know, what we can make happen here. You know, I

Sukanth Srivastav [00:37:20]:
this space is right. I think if you go to and talk to a restaurant operator, you would see that he’s inundated with call from vendors. There are hundred people calling him daily, buy this software, buy this software, buy Mhmm. Put it on this machine or put it on this table. Customer can come and check it by themselves. Customer can pay by themselves. They can be on mobile. Hundreds of things are being sold.

Sukanth Srivastav [00:37:45]:
For the laundromat operators, I I think they are the only people who are probably coming and saying, I want to buy this. Why is not nobody coming up with this? Why is nobody coming up with this? Like, where is my dis why is my distributor not sending me machines? Like, these are the kind of issues that they’re still stuck with. Mhmm. There are five of us which can survive in this market and compete because the market is huge. As well as the more the people are, the more the space in this innovation would increase. I think people who are only hardware will struggle. People who are only software will struggle. The future is consolidation in our ecosystems also, in technology vendor space also, because you have to become the best product.

Sukanth Srivastav [00:38:36]:
You have to at least try and be the best product for a certain specific population. You just can’t be half solution for somebody and and expect the other people. And I think it might not happen in this way. The the we might not see consolidation, but we might now see more development happening where it becomes more open, that everybody can access it. Like, something has to change now. And this is what makes it fun for me because this will push people to do things that, a, haven’t happened or b, they didn’t want it to happen. And both of the things will happen.

Jordan Berry [00:39:11]:
Yeah. And I mean, just frankly, like, we we need more. We need more. Like, as owners and operators, like, we need more technological help. You know, I was talking with another buddy yesterday, too, who was just saying, you know, like, I you know, they have a software system to help them manage their business and their drop off and pickup and delivery and stuff, but they can’t get some specific reporting that they need. And so they had to create a spreadsheet that now they have to manually enter stuff from their software to their spreadsheet in order to keep the reporting they need. Right? Like, there’s and this is a this is a well known this is not yours, so don’t worry. But this is a well known software, you know, but

Sukanth Srivastav [00:39:52]:
it’s I absolutely would know. See, the worst part about this business is that when we talk, there are only four or five people, and and all of us can understand where this is going. So I genuinely believe that if there are few people, it’s our job to make sure that we get to the next stage. We have to build, And we’ll we will build, and I’m very sure everybody will follow. I think everybody wants the best for everyone in this industry. I think Mhmm. This is a nicer industry. America is a nice place.

Sukanth Srivastav [00:40:24]:
As I said, you have not met the other side. So it’s a nice industry. It’s nice. It it’s a lot of good people trying to do their best. I don’t even see the amount of competition between a laundromat operator two laundromat operators across the street also. Like, in I have seen in other businesses, there is intense competition. Like, there is intense amount of heat. So this means that the the there is a shared, as I said, this is a shared pain or a shared experience for a lot of people, and they realize that all of them can make money.

Sukanth Srivastav [00:41:03]:
We all have niche. We all have a space and location. We just have to pull. Because what I’ve seen is if in a location, in a ZIP code, four people are not offering cards and one guy is, four have to go card. If they don’t go card, what you’re doing is you’re giving all your evaluation, all your effort, all your money to this fifth guy who just has put up a card acceptance. And we should all learn from this guy, these four guys, and make that and it will make all four of them happy. Yes. The first guy might be more happy that he made more money.

Sukanth Srivastav [00:41:38]:
But then the I think it’s the right it’s it’s right for everybody to try the same at least get to the same scale that the other guy is. I I think that this is an industry of matching. Everybody has to match, at least.

Jordan Berry [00:41:52]:
Yeah. At least. And and, you know, that’s tomorrow’s zombie, Matt. Right? Like, if you’re not staying up with with the technology, if you’re not running your business well, like it used to be even even when I got in the business, it was like, keep your place clean, keep your machines running and, you know, smile when people come in and you’re going to just you’re going to own your your market like everybody’s going to come to you because you can’t find that a lot of laundromats. Well, that’s starting to change now, and you can’t just smile at people and keep the place clean. You’ve got to really serve the customers, right? And there’s a big technological piece to that serving of the customers. And not only that, we’ve got to, we’ve got to we’ve got to go above and beyond that. Right? And so like you said, if there’s one laundromat that is serving their customers better and one way they’re doing that is, you know, through offering a digital payment system, then guess what? If those other four laundromats don’t respond, they’re tomorrow’s zombie mats.

Jordan Berry [00:42:59]:
That that one laundromat will own part of that

Sukanth Srivastav [00:43:02]:
market. In my opinion, if in a in a zone in a location, one laundromat starts to behave exceptionally well, everybody has to behave exceptionally well. It’s gonna eat everybody’s lunch. And because from a perspective of a guy who’s coming there, he would always expect that, hey. Once I buy this laundromat, I’m gonna get the three out. They’re gonna close. I’m not gonna, nobody’s gonna come and buy this junk thing because I’ll destroy it to that scale. They have to match and you said you have to be at your store.

Sukanth Srivastav [00:43:36]:
You have to clean that store. You have to make the machines working and smile. 90% of the operators are not able to do this much. Like, this is and that’s why they need all the technology because if, trust me, if a founder is always there, if the operator is always there in the store, they would make twice the money that they do. But the operator can’t be at the store. That’s why he has to create these processes. That’s why he needs this technology. So trust me, you still have to do these four.

Sukanth Srivastav [00:44:07]:
If you can’t do these four, then no matter what technology you put, it’s gonna be hard.

Jordan Berry [00:44:13]:
That’s yeah. That’s exactly right. Like, that’s the baseline now. That is that’s zero. That’s ground level. And you got to go up from there. It used to be that was the pinnacle. Like, right? If you could do those things, you’re there.

Jordan Berry [00:44:26]:
You’re going to dominate your market.

Sukanth Srivastav [00:44:27]:
That’s what I’m saying. Every market is growing. Every market has more customer expectations. Earlier, people were happy were happy if a restaurant delivered. Now they’re unhappy if he delivers in thirty five minutes. Tomorrow, they’ll be unhappy that it doesn’t deliver in ten minutes. And it’s good. The the the future of human race is forward.

Sukanth Srivastav [00:44:48]:
It’s not backward. So our expectations grow, and I think that’s what’s happening with laundromancy. Expectations are growing, and they will keep growing. So we are smart people. I think, as I said, laundromat operators are smart people. They’ll we always figure stuff out.

Jordan Berry [00:45:04]:
Yeah. And I mean, one one good thing to do, right, is to, like, take a look at other other industries. Right? Whether it’s a restaurant or take, for example, like, we don’t we don’t go to the grocery store anymore. We order our groceries online. And it used to be like, okay. We’re gonna need groceries tomorrow, so we need to order groceries today so that we make sure they get delivered to our house in time for tomorrow. But now we order groceries and they’re there the same day and usually within a couple of few hours. Now I’m in Southern California and like that’s a not everybody can do that.

Jordan Berry [00:45:42]:
But that’s like you said, that progression, I mean, that’s where we’re progressing. Right? Those time frames are getting quicker and quicker. And in fact, the quicker you can get the result that customers want from you, whether that’s pickup and delivery or whatever it is, the more valuable that is to them and the, the more attractive that will be for them, but also the higher you can charge for that service.

Sukanth Srivastav [00:46:09]:
As I said, if you have a stable pickup and delivery business, you’re even more golden than a stable self-service business. Like, just just free from this space. It’s great if you’re a self-service owner. You have great business. Awesome. If you add a stable wash, dry fold on this business, whatever multiple this is, this will be higher. This space would be higher. And if you have a pickup and delivery business, this space would be higher than both of them.

Sukanth Srivastav [00:46:36]:
Even if they all make the same money. Like, a hundred thousand dollars of self serve might be valued at 500,000, but a hundred thousand of wash dry food would be valued at $750,000, simply because it’s almost very hard to build. And it’s hard to build Those customers are heavier customers would like to pay more You could go into their wallet further And a hundred thousand dollars of pickup and delivery will be % valued at a million dollars Like, that’s exactly like software Like, as I said, a lot of people are now realizing that what bigger money decisions made have a lot of criterias which run on them. And now as new operators or younger generation, this information is getting more and more democratized. Everybody gets to learn, oh, this is why this asset company won against this company because they realized this is more stable than this. Like, now we get to see this and experience this and probably do this with our, with the buys that we make, with the stuff that we do. Take a software company example. Right? And this this is my con my company company lies in my field example.

Sukanth Srivastav [00:47:48]:
A company which does only stuff for laundromats is valued more than a company which does stuff for everyone because the laundromat company can be the only one which does this for them. We can we are the only ones which can go deep. So a laundromat operator should, I think, go deep. And the next money is bigger than the last money is more motivating to me. I think this makes it much more motivating to be a laundromat operator than probably thirty years ago. Our not mine. But let’s say your grandfather, if you would have had a laundromat, his main job would have been trying to make sure that the first things that first four things that you said. Now there will be fifth where you will have to have drop off.

Sukanth Srivastav [00:48:29]:
There will be sixth in the future where you’ll have to have pickup and delivery. And it may not work everywhere, everybody would say. But let’s say a $60,000 pickup and delivery business I’m just and by the way, I might be completely wrong on the numbers. You just correct me. In Spokane, is much more valuable than a $60,000 business in Manhattan because it’s just very hard to do it in Spokane. So somebody who would be buying in Spokane would be paying 10 x for it, whereas somebody who will be in New York probably might be paying only five x or seven x for it. So every effort that a laundromat operator makes has a number associated with it. Every revenue jump, every thousand dollars probably can result in tens of thousands of dollars for you in the bigger space.

Sukanth Srivastav [00:49:16]:
So go.

Jordan Berry [00:49:18]:
Yeah. Well, it’s interesting that you bring up the valuation because I’m seeing, like, an interesting thing happening. Because for, for a while there, I was seeing a lot of, like, the pickup and delivery business value less than the self serve. And, the argument for it is that it’s there’s more work involved and more liability, there and more logistics and more you’re more hands on, so it’s less attractive. And I still think a lot of people view it that way. But I’m

Sukanth Srivastav [00:49:49]:
also I’ll

Jordan Berry [00:49:51]:
give you

Sukanth Srivastav [00:49:51]:
the opposite way. I’ll give you the opposite way. I if it were if it’s too costly to get that revenue in like, let’s say I’m buying a pickup and delivery business, I know it’s hard. I know it’s a lot of effort. Would I pay more for it, or would I make that effort? I would pay more for it. Right? Like, if I know to build this hundred thousand dollars, I’ll have to spend $250,000. Why would I not buy it for 235 then and there rather than haggling over whether I should even see, who doesn’t want to do this would not ever buy this. Anybody who’s saying that I don’t want to buy a laundromat because it’s gonna be too much effort, Pinch of salt.

Sukanth Srivastav [00:50:32]:
Like, every opinion. But I’m just saying from a from a smart person perspective, I I I might be wrong altogether. You somebody might just come and give me the other option. But which revenue is harder to build? Pickup and delivery. So which would be valued more? Pickup and delivery.

Jordan Berry [00:50:46]:
Yeah. Well, that that’s what I’m saying is, like, this I’ve been watching this shift happen where people are like, I don’t really want pickup and delivery. It’s too much work. It’s more liability. I’m taking responsibility for people’s clothes. But Like I was kind of mentioning earlier, like we’re sort of in like a gold rush type of scenario here with this pick up delivery, and so people are starting to see exactly what you’re saying, that the pick up delivery is actually more valuable. And I would even take it further and say that, you know, if it’s going to take me I have to invest 250,000 to invest in building up, pick them delivery from scratch. It’s going to make a hundred thousand dollars.

Jordan Berry [00:51:23]:
I would I would argue it’s probably worth $350,000 to me now.

Sukanth Srivastav [00:51:27]:
I didn’t want to give that number away because then people would be looking at like this Indian guy is coming in. Yeah. I’ll say, I mean, everybody

Jordan Berry [00:51:35]:
knows Americans are dumb, so I have no problems, you know, being dumb over here. But I would say, you know, you could buy that hundred thousand dollars now, you know, for even more than it would cost you to invest to build it yourself. And you’re benefiting from the revenue now.

Sukanth Srivastav [00:51:49]:
I do not sell it. Like dry cleaners, when they sell their businesses do you know how to sell their businesses? They do not usually sell it full. They sell it part by part. I’ve seen dry cleaners sell million dollar routes. This is what I they did not sell the delivery business. They stored a route of that delivery business for a million dollars. So anybody who’s saying pickup and delivery is a stupid business, it should not be annual, is like, oh, maybe. It’s already happening.

Sukanth Srivastav [00:52:19]:
Smart people are doing this. You may just get behind the curve and let me have the opportunity. I’ll take that.

Jordan Berry [00:52:26]:
Yeah. Well, I think, you know, as we’re talking about, like, savvy people coming into this industry, right, you’re starting to say, like, well, what’s my time worth? Like, do you know how much time it’s gonna take me to build from like, go listen to Mark Vlastkamp’s episode of the of Interview where he talks about how hard it was to build his business that he sold for multi multimillion dollars of just pickup and delivery.

Sukanth Srivastav [00:52:48]:
One hard like and by the way, it’s not unique to American. Pickup and delivery business building is hard everywhere. Like, I do this in Australia. Hard. I do this in Singapore. Hard. I do this in India. Hard.

Sukanth Srivastav [00:53:04]:
I do this in Dubai. Hard. I do this in South Africa. Hard. And I do this in multiple other countries. Hard. So trust me, all of them want to win, and they understand this. More and more savvy people are coming in.

Sukanth Srivastav [00:53:18]:
I see more and more conversations like, this should be done. I I should not be working in the business. I should not be doing this as a job. If you get a hundred and $50,000 or a good value of delivery built in, you’re in the right space. It’s first of all, it’s very hard to build it. So don’t be disheartened if you’re not able. And if you see even directions going towards it that, hey, it can grow, then don’t keep this in your heart. Go for it.

Sukanth Srivastav [00:53:54]:
Like, no point keeping this in your heart and probably selling your laundromat for five x or six x. At best, a guy who would have a delivery or a full ecosystem associated will be selling for more, will be selling faster, and will be selling much better. You’ll it would take some part of you, but then you I think you get to enjoy for a longer period of time. Like, you make more money. If you make more million dollars, then yes, no more order match for you.

Jordan Berry [00:54:23]:
Yeah. Yeah. I was just talking to, a guy. He’s I mean, he’s in the community over here, and he started, building a pickup and delivery, and he doesn’t own a laundromat yet. And we’re just you know, when when I’m consulting with people who’ve already either own laundromats or pick them and delivery business or whatever, I it’s like fifty fifty, you know, helping them solve problems, giving them advice, you know, strategizing, that kind of stuff. And then the other 50 is, like, pep talk and keeping people you know, because it’s hard.

Sukanth Srivastav [00:54:55]:
I was just gonna I was just gonna say the opposite. For me, it’s only 15%. I’m telling them

Jordan Berry [00:55:01]:
You might be right.

Sukanth Srivastav [00:55:02]:
90% of the time, I’m just telling them, dude, I know this is hard. I’m in pain. You’re in pain. I’m in pain. You’re in pain. We’ll go through. We’ll go through. And sometimes this pain has no answer.

Sukanth Srivastav [00:55:12]:
Yes. I like I’ll be very honest with you. Not every location is built up to make $150,000 on delivery.

Jordan Berry [00:55:19]:
Mhmm.

Sukanth Srivastav [00:55:19]:
But then if that is not built in for that delivery, you actually paid lower prices to get into. If that place was very sexy for delivery, by the way, the guy who’s owning this would have understood it and would have factored it in his price. So just maximize whatever we have and try it at least because I see a lot of people saying this is too much work. Why should I do this? This is gonna make you money. Like, that’s what we are in for laundromats for. Like, why not try this? If it pays, you get to know very early. Like, it’s very easy to understand that it’s gonna be a very hard slog very soon. Right? Yep.

Sukanth Srivastav [00:55:54]:
If it won’t work, trust me, this is not a business which will suddenly start working after five years. If it won’t work, it won’t work from the first day. And if it would work, it would store signs from the first month onwards.

Jordan Berry [00:56:07]:
Yeah. Yeah. It’s true. It’s true. And and you’re probably right. It is probably more like 85, 90 percent counseling, encouraging and just empathizing. Right. And but but all that said, like, you know, one of the things we’re talking about on that call with with him is, you know, you got to make a decision if you’re going to go all in or not.

Jordan Berry [00:56:31]:
Like, if you’re not going to go all in, you know, because he’s at a point where he’s ready to he’s ready. He’s he’s built a pretty good business, but he wants to take it to the next level. And we got to say, hey, listen. It’s time to commit. Like, are you building the business? Or what are you what are you doing?

Sukanth Srivastav [00:56:48]:
It’s exactly like marriage, man. Like, you have to finally say yes. If it’s all what’s all the foreshadowing for? If it’s not gonna be a yes, then it’s just pointless. Yep. Right? And at the end of the day, we are in this business. I anybody who bought Laundromat would have bought it with the idea that we are gonna make money. Like, we have to make money. We have to grow this business to its full potential.

Sukanth Srivastav [00:57:13]:
Anybody would I am, by the way, no way saying that everybody should do whatever, like, I am saying. I am just saying, if you choose the direction of saying, I don’t wanna do this, then just know the consequence that you have left the value of the property 50% lower. You’re okay with it. Like, I wanna make my life easy. Life is has to be simple. I don’t wanna work hard. 50% lower pay is fine. Then fine.

Sukanth Srivastav [00:57:38]:
But if you wanna make double the pay, then this is the industry that you’ll have to go and run horses in. Because, by the way, everybody else is doing it in the other industry too. It’s hard for them to they are also in paid too, and they also wanna make money too.

Jordan Berry [00:57:52]:
Yep. Yeah. Yeah. Well, well said there. Well said. And, you know, there’s a it’s interesting. There’s a, contingent of people who are like, I want to make laundromats as passive as possible. And there’s a growing contingent of people, I think, that are saying, I’m I’m building a business here.

Jordan Berry [00:58:11]:
Like, I’m not trying to, you know, minimize what I do. I’m building a business.

Sukanth Srivastav [00:58:16]:
Even claw. Like, you have to do everything that makes you money. And see, the people who want to do only sell some businesses usually open up multiple laundromats.

Jordan Berry [00:58:28]:
Yep.

Sukanth Srivastav [00:58:28]:
Dude, their life is even more work like, it’s not easy doing that either. Just imagine x number of people coming to your laundromat vandalizing hundred types of problem card systems everywhere. Some goes wrong. Some goes left. There are gonna be tons of employees. So, by the way, if somebody’s doing only a part in going deeper, that shows that there is a lot of effort there. It they it will take a lot more money to get towards that side. Wanna do that? Know the consequences.

Sukanth Srivastav [00:58:56]:
Let’s go there, too. Right? I’m the full believer that laundromat has to be maximized. That laundromat, that location, that machinery deserves more money. That’s what they’ll therefore fill that fill that coin box, get that money in.

Jordan Berry [00:59:12]:
Yeah. I I mean, hey. I I love it, man. And I, you know, I first of all, thank you for coming on again, and I always love our conversations. You get me all fired up about what’s going on. And then when you’re dropping huge news, like, this merger here between Payrange and Terns and just the implications of that. Like, I’m just I’m amped up. I’m I always leave these calls just, super psyched and cannot wait to get this one out.

Jordan Berry [00:59:41]:
As we sort of wrap this thing up, any, and it may be too soon to even know, but any, any any fun on the horizon for you guys with this merger? Any ideas already brewing?

Sukanth Srivastav [00:59:52]:
I’m here in Portland. My job and I and this is my I would say this is the shoot part. It’s like, I’ve been following American wrestling for so long. Like, I love it. Like, I want to shoot. I will be in Portland for next conceivable future till we win 50% of Portland. Like, everybody on Portland has to accept credit cards, whether it be us, whether it be somewhere else. And once we get that direction in, that is when we’ll go towards the next city.

Sukanth Srivastav [01:00:23]:
So for Portland, you get to see me a lot more. I love it’s miserable weather, but I love Portland. Let’s go.

Jordan Berry [01:00:31]:
I love it. I love it. Man, I mean, listen. I there’s there’s people listening right now that are in or near Portland. If they wanna connect with you, what’s the best way to connect with you?

Sukanth Srivastav [01:00:42]:
I’m always available on [email protected]. Reach out to me on LinkedIn, email me, Go on our website. Fill a form. I’ll firstly come and visit you. Like, you get to have the benefits of this. And then probably I’ll give you a lot of yapping, and I’ll I’ll get you some Indian Indian food, which is very rare to find really in America.

Jordan Berry [01:01:05]:
Yeah. Yeah. Well, listen, you know, just be prepared because one of my favorite things about having you on the podcast is I can basically say, hey, what’s going on? And then I can just I can lean back and just let you do the rest of the podcast because you can just go, man. You can have this industry all day.

Sukanth Srivastav [01:01:21]:
You’re my you’re my you’re my guy to tell all this. Like, do you get to see it firsthand? All my customers get to see it the other end. They I am pretty sure half of them would be saying we’re very happy that they are now acquired by Perish. Somebody else will take the call.

Jordan Berry [01:01:36]:
Yeah. I well, listen, dude. I love it, and I’m super excited about this. I mean, we’ll for sure, you know, be doing this again in the probably near future to talk about what kind of chaos you’re stirring up, in the industry and, what innovations are coming around the corner. So I’m I’m excited, and I’m excited for you to have some resources behind you to be able to you know, that that brain that’s always cranking, that’s always bringing great stuff when you come on these interviews is gonna be turned loose, on this industry to be able to be creative. I’m excited about it.

Sukanth Srivastav [01:02:10]:
This is the dream. Like, I I genuinely believe you work with so many operators. If given an opportunity, you want to work with the most number of them. I wanna meet every operator. I wanna I want to say that I have friends in hundred cities, probably every place, and I can get a meal. Like, these are the kind of Indian dreams where I have, but let’s go. This is what we are here for.

Jordan Berry [01:02:33]:
Yeah. I I mean, I love that. I think it’s an attainable goal, and I bet there are people in over a hundred cities that would wanna meet you and hang out with you and be your friend. So, I’ll I’ll make sure your contact information is in the show notes page there so people can connect with you. And listen, I’m excited about this. Thank you for coming on here to share it with us. And like I said, we’re gonna have to follow the saga of this merger and all the implications. I’m excited what it means for laundromat owners across the country and and beyond even.

Sukanth Srivastav [01:03:08]:
We’re gonna make news. We’re gonna stay in the news. Let’s go.

Jordan Berry [01:03:12]:
Let’s go. I love it. I love it. Alright, man. Thank you for again, again for coming on. I hope you love that interview with Sukanth. Such good stuff there. Congrats to turns and pay range for striking a deal, making a partnership.

Jordan Berry [01:03:27]:
It’s gonna benefit them, but also it’s gonna benefit us. And, I can’t wait to hear what kinds of things they innovate together and how that synergy brings, trans transformation to our our businesses and gives us more tools, more resources, more power, more control over our businesses so that we can build the life of our dreams. So listen. I know we talked about a whole lot of stuff in there, and the main theme of that episode was this merger or this acquisition that pay range acquired turns. However, the second is just a he’s like an encyclopedia of wisdom in the business. So pick something out of it, put it into action today, if possible, this week at the very least. And we’ll see you next week on the show. Peace.