- Intro
- [0:30] Laundry Money
- [0:39] Max Branstetter, Hippo Direct, Wild Business Growth Podcast
- [0:44] Howard Shear, Rex Anderson, Lakeside Laundry Equipment
- How Expensive Is Starting a Laundromat Business?
- [1:38] What are the biggest upfront costs to consider before signing the lease on your laundromat business?
- [1:51] Utilities, Construction costs, Legal costs, Accounting costs
- [2:22] TV, Water, Sewer, Internet costs
- [2:52] What are the costs of starting a laundromat business?
- [3:32] Auto parts stores, strip centers, strip malls
- [4:12] What are the biggest costs when starting your laundromat business?
- [5:48] What are the construction costs when you’re building from scratch vs. refitting an existing building?
- [6:32] Hidden costs
- [6:35] ROI (Return on Investment)
- [6:52] How often do laundromat business owners start building from scratch vs. refitting an existing building?
- [8:39] What are the lender costs to consider when investing in a laundromat business?
- [9:01] SBA (Small Business Administration)
- [9:20] Credit score, Personal financial statement, Net worth
- [10:34] What should you look for in a lender when investing in a laundromat business?
- [10:41] Laundry-specific banks, Eastern Funding
- [11:02] Pro-forma Analysis
- [11:30] Real Estate BRRR Method (Buy, Rehab, Rent, Refinance, and Repeat)
- [12:02] Cash flow
- [12:13] Cash returns
- [12:35] How do you know what types of washers and dryers to use in your laundromat business
- [12:55] Equipment, Turns
- [13:24] Top-load washer, multi-load machine
- [14:29] What else should you consider when choosing washers and dryers for your laundromat business?
- [14:41] SKUs (Shelf Keeping Units)
- [15:24] Laundry machines
- [15:39] Rent
- [16:05] What non-laundry equipment costs are involved with starting a laundromat business?
- [16:28] Coin changers, Bill breakers, Laundry cards, Soap dispensers
- [16:38] Computer POS System (Point of sale)
- [16:52] Marketing, Mobile App
- [17:24] Coin Laundry Association, Laundry Cares Program
- [18:31] MTV Cribs
- [18:51] What other costs or considerations are involved with starting a laundromat business?
- Outro
- [19:23] Bring your laundromat business to life by visiting LakesideLaundry.com/Podcast and filling out the form
- Theme Song: Rock Your Life – Abydos Music – provided by Jamendo
- The numbers discussed in this podcast are based upon estimates and may vary from location to location. Past performances are no guarantee on future estimates, but are used as a guideline
