Business
Today, we talk about Keith’s third laundromat which just opened. We walk through the timeline, the financials, including the cost to build the facility, the operating math, equipment, and growth in the wash, dry, fold business. We share what we would have done differently with machine selection and distribution, give you the profit margins and how much is going to debt service, utilities, payroll, and other professional fees. We talk about growth in the wash, dry, fold business -- especially during the coronavirus pandemic. We finish by summarizing what makes the laundromat business promising and what your priorities should be when opening one. Subscribe, Send Feedback, Share Ideas, Get On The Podcast: Go to dincpie.com 1:47Timeline, Goals, Financials and Operating Model 3:08Wash, Dry, Fold and The Commercial Laundry Business During The Pandemic 16:18Summary: The How And Why of Laundromats 21:56“You’re trying to create a diversified income stream so that 10 years down the road when you do have the debt paid off, this thing’s gonna make a lot of money!” 23:43Reach Out To Keith, Get Help and Resources: https://dincpie.com/