Laundromats, Business Brokering/Advising, Golf, Sports
New England
- Tweets 20,456
- Following 480
- Followers 3,129
- Likes 2,268
Cold called 12 snow removal companies.
0 call backs.
It’s time to buy an F250, a plow, 3 logs of Copenhagen and start another biz.
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Pickleball is the new golf for networking. 45-90 mins, conversational the whole time and you’ll maybe meet a former car wash king in the process
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The ex-PE MBA walks into the warehouse with a massive PG and sees their new employees doing this
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I bought a laundromat one year ago.
Best decision I’ve ever made.
Automated myself out in <30 days.
On pace to 2x+ the business in 2022.
“Let me tell you the secret that has lead me to my goal: my strength lies solely in my tenacity”
The work never ends: back to chopping
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So fitting that your name is Karen with such a terrible reply. I am sure you’d be rioting in the streets if an R governor did the same to a left wing journalist.
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Firing Cassidy should have been the beginning of the end of the “full support”
Absolute joke of a current situation this team is in, and it’s all self inflicted from Cam and Don.
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Laundromats are totally hands off passive income investment machines until you’re sipping your Sunday coffee watching the CCTV to figure out who stole one of your plastic chairs. That laundromat consulting call for $500/hr won’t prep you for this
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Dinner with my 94 year old grandmother: mentally sharper than 99% of the population, slowing down physically
“You’re just like your grandfather: workaholic, always scheming, making money etc…no one else in the family has those genes”
Bit dusty in here.
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You can’t make this stuff up…
Laundromats aren’t short term rentals and aren’t operated by “management companies”
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60 mins of pickleball, 90 mins of tennis, 9 holes of golf, 3 americanos, 25+ listings and owners stalked for the pipeline and now it’s a bad day to be a grass fed ribeye.
Happy Sunday.
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I bought a laundromat off of this grease stained notebook and a few utility bills: some may call me an idiot, some may call me a gambler, some may not be wrong. The smartest decision I ever made was getting off the sidelines and drowning in the deep end.
We’ve come a long way.
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Great post about “college educated assholes” inheriting a plumbing supply biz and losing 7 employees.
Should be mandatory reading for any suit or PE hack who thinks buying a trade biz is easy and can be played on a spreadsheet
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I’m heavy on the over of $100k in startup costs on this if he’s planning to make it anything beyond a backyard setup with a junk sim
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I bought my laundromat in Nov 21, and it was doing barely $4k a month, depending on how big the 5 finger discount was in the quarter buckets
In less than 3 years, I just had my first $10k month as of 35 minutes ago.
Trust the process, be relentless, and FITFOAE.
LFG.
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Under $250k???
This is nicer than some privates and most public’s. Need this guy to do an AMA.
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Just signed papers on two new laundromats for the portfolio of passive income generating machines. 15 turns a day at each spot
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“Canada is far better poised for the next technological revolution than the US.”
Thanks for a good laugh.
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The flexors are mostly “rich” and some are new money or second gen new money. The truly wealthy I know don’t flex, don’t care about a lot, are very protective of their time, and generally, good solid people. They aren’t in any measuring contests
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Paywall makes this useless to 99% of the population that are seeking info outside of the headline tweet.
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Over 25 times today, I have considered sleeping in the basement of the laundromat to make sure I’m there if a pipe bursts: the newsletters can’t prepare you for plumbing from the 80s on your due diligence
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10 likes and I’ll unpack this one faster than your mother-in-law after your wife has the first kid.
🫧Laundromat with Property🧼
Location: Baltimore, Maryland
Price: $2,500,000
Spacious, well-lit coin laundromat with ample parking and potential for growth. Established since 2013, it features 66 dryers and 64 washers, making it one of the largest in the area.
onedeal.biz/listingDetails?i…
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Local gas station owner is always there, always smiling, and finally tonight, I asked how he was doing and he gave me a real answer
“Brother, I am tired, but my daughter graduates from NP school in a few months, and my son graduates with a biomed eng degree: they have no debt”
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One year ago today, I was sitting at Logan, and I made a few major decisions:
- In 2022, I was getting a new W2
- I would pour everything into optimizing and enhancing the laundromat to be the best in my area
- Exit vending and focus one on thing for 12 months.
Parlay cashed
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(Hot?) take: I don’t take anyone seriously who goes undergrad to grad school for an MBA. Nearly everyone I know who goes straight through regrets it and doesn’t have real world experience that they can tie back to. Tell him to get a job and reevaluate in 4 years if it’s worth it
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Month closes at 9pm, but the laundromat has broken another monthly record in a MoM comparison.
2x’d from the previous ownerships grease stained notebook for October ‘21
I’ll hit the 2 year anniversary on November 20th: heck of a turn around in almost 2x’ing the biz as a whole
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When I shook hands on my laundromat in November 2021, I told myself within 3 years I’d have this place retooled, renovations galore, and on the path to glory.
This place was so bad, I couldn’t believe anyone would do their laundry here (this is a good way to asses a ‘mat FYI)
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Something about driving up 89 in Vermont with a piping hot cup of coffee from a place call Dirt Cowboy Cafe, seeing rolling hills and mountains, just hits different.
Long New England.
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Charging friends $250/month to hit on a Skytrak is a good way to lose 15 friends
Nothing against Skytrak, this is just biz
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Wednesday night, I had my first “exit” (cringed as much writing that as you did reading it, maybe I’ll update my bio) in my SMB days. November ‘21, I had a crazy 6 day swing where I bought both a vending machine biz and a laundromat. Let this be a lesson/cautionary tale for you
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First water bill since the renovations just arrived: if my calculations are correct, we’re saving 21.7% per quarter compared to previous bills, with a 25%+ increase in customer traffic
You absolutely love to see it.
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Enjoying your tax payer funded private jet trips while they last? Taking any detours for vacations?
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When I get a cold call asking to buy my laundromat with 100% seller financing
(yesterday)
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Someone stop cutting the onions: hired a local disabled vet to help with some odd jobs, and just asked for his time to pay him for his guidance etc. Received a handwritten note with his hours listed out, and a note at the bottom below the total.
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What’s the appropriate bribe for the neighbors son to not ride his dirt bike during an open house? $100 gas card? Cost of gas hasn’t slowed down Jimmy Two Wheeler at all so not sure if I need to bump to $150
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Good morning to everyone who thrives in the world without an MBA.
I bought a laundromat instead of getting one: I’ll add Masters of Laundromat Arts to my resume.
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How to lose 10 lbs in 30 days: buy two SMB’s, work a W2 and travel. Food is the last thing on my mind
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12 months ago I was sitting in a Marriott lobby in Atlanta, plotting my way out of full reliance on a W2, finishing DD on a vending biz, finalizing first round of DD on a laundromat.
Stop sitting in fantasy land and get after it. It’s not going to come to you in a wrapped gift.
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Send your kids to trade schools. Finally got an electrician and he’s getting $185/hr and going to $205 in 2022.
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We’ve been reopened a week:
1. New dryers need to be cleaned daily and someone had something rancid in them today: disgusting
2. Operationally were crushing projections
3. Due to crushing it we’ve been hit HARD by the Quarter Pirates. Cost of doing business.
Love this shit.
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Laundromats are passive income and totally hands off until you’ve got a homeless squatter with visible weaponry scaring customers and emptying the lost and found looking for something.
You’re dealing with everyone from 1% to negative percent on a daily basis
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“I’ll go swing by the Pike house while they’re in class and grab a few frozen pizzas and bags of Doritos”
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2022:
-2x’d, renovated and overhauled the laundromat
-Sold the vending biz and learned a lot about focus and direction
-#1 rep at the W2 and blew it out of the water
-Carwash path is slowly clearing
We’re onto 2023: LFG
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I have a problem. I know. This place near Aspen was a hidden gem with a wealth of knowledge. Amazing how much info you can get just talking to laundromat staff.
“We don’t do out of order signs, we do on vacation”
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Laundromats don’t have a lot of “metrics” that are “sexy” but one that I started to track since taking over is incoming customer calls. Comparing my first ~9 months with old equipment vs ~6 months with new equipment, I’ve reduced call volume by 90% for equipment related issues.
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He shouldn’t be employed by a team with a gun charge, a DUI, and drug dealing chargers. He’s only there because daddy’s last name and every single human knows it.
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Laundromats are a hands-off passive income DREAM until Joey Bag of Donuts washes a foam pillow that shredded in the washer and all over the floor like a plucked chicken
Not only did Joey clog the machine’s drain, he also clogged the exterior copper drain pipe
Round of applause
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6am tomorrow: we’re back in business.
Embrace the suck. FITFOAE:
Figure if the fuck out and execute.
No threads needed, but buy your subs lunch/coffee etc. It goes a long way.
Maybe a thread if the interest exists.
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Flood at the laundromat: the gurus would throw up on themselves if they had to deal with this hands on, on any day, especially on July 4th
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Just another day of passive income: being a lint farmer and water purification engineer ain’t easy at the laundromat
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Logging into Facebook and seeing people recommending my laundromat (in a very competitive market mind you) as “clean and the best price around” is the greatest feeling in the world.
Mondays don’t always suck
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Feels wild to type this, almost not even real: 3 years of laundromat ownership as of today.
What a wild ride it’s been: bearded dragons, lingerie going home with a new owner, $3k comforters, a burst hose or two, a few weird drunk dials
Wouldn’t change it for the world
Go 0>1
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Used to think early weekend tee times were for guys who want an express path to divorce or retirees who can’t ditch the body clock: boy was I wrong. This is paradise
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I love finding hidden gems in the Classifieds.
Just a widow looking for someone to break bread with, destroy in scrabble and maybe have a house repair or two handled
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What type of sim?
How big is the space?
I spent a month trying to make the numbers work on this and $100k was barely the cost of the simulators and technology required
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“I bought 3 laundromats in 90 days to break free from the 9-5 world”
“Buy my course on laundromats: I know nothing about them and so don’t you!”
“Laundromats are so sexy, I’m going to make my whole content strategy around them even though I’m only here for a photo op”
Me:
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Finding notes like this in my office remind me how far I’ve come in a year in this business - the only way you get anywhere is taking the first step out of your soft and cozy comfort zone and getting after it.
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I shoot straight regarding my laundromat and the business: it’s not rainbows and unicorns
The feeling of seeing new machines and the future of the business ahead? These are the moments I dreamed of last year while on the road 2-4 nights a week, plotting my W2 exit and my empire
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-Laundromat owner/operator; tech sales
-I don’t sugarcoat the laundromat business.
This is a big help to the sheep following gurus and the misleading marketing tactics deployed (whether intentional or not)
-Always looking to broaden the network especially in New England
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Just wiped down every machine, trash duty, fixed a down machine, vacuumed and did my first coin run as an owner: 10 year old me is smiling knowing I am hitting the dreams of being a small biz owner.
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Christmas came early from Santa @fortworthchris - happily expanding the reach of The Fort and @theFORTpodcast in the northeast. One of the first podcasts I binged on my SMB journey, and still religiously tune into.
Thanks, brother. Much appreciated.
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Enjoy this story regarding mailbox money passive income cash flow growing laundromats while you sip your morning beverage: the gurus don’t touch on subjects like these in those expensive courses
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Did you tell them about taking bets offshore back in the day?
Need a biography of Ted Knutson someday
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With the 1 year anniversary of buying my laundromat approaching, I thought I’d share thoughts every day leading up to the bigger thread.
Today’s topic: networking.
Networking is somewhat easier in 2022 than say, 2012 or any other time in history.
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Some of the loudest voices promoting buying a small business do not operate or have any operational knowledge of a business themselves, nor have intentions to get in the weeds
Focus on the information from sources who are active, hands on owners versus “investors”
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Everyone else: sipping coffee/tea, soaking in fall at Augusta, enjoying a nice fall morning.
Swift:
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