Andrew Cunningham [00:00:00]:
If you find something you really like, tie it up. Don’t wait for this or don’t wait for that. Make it subject to a lease that’s acceptable. Make it subject to verification of the equipment or verification of the utilities or verification of the revenue. Make it subject to bank financing even if you’re gonna pay all cash. Tie it up. You’re gonna come to me in 6 months and say, Andy, I still haven’t found anything and you, you know, I should have bought that laundromat that you and I talked about 6 months ago. I can’t tell you how many people have said that to me.

Andrew Cunningham [00:00:32]:
Don’t be afraid to pay a little bit more for the laundromat because that’s opportunity. So lease, financials, equipment, location, growth potential, and opportunity costs. This is an opportunity cost.

Jordan Berry [00:00:44]:
What do you think is the most important, or one of the, one of the most important things that existing owners need to be either thinking about or doing right now to not get left behind as things are changing pretty rapidly in our industry right now?

Andrew Cunningham [00:00:58]:
I, I think that they I think that everybody should be on— Hey, hey, what’s up guys?

Jordan Berry [00:01:03]:
It’s Jordan with the Laundromat Resource Podcast. This is show 240. I had to go look it up. I’m losing count. There’s too many, uh, for my fingers and toes these days. Uh, but I’m super pumped that you’re here today because today, you know him, you love him. He’s the human laundromat encyclopedia, Andrew Cunningham, back on the show to talk all things laundromat. If you guys don’t know Andrew Cunningham, this is gonna be a treat for you.

Jordan Berry [00:01:30]:
And if you do know who Andrew Cunningham is, this is also gonna be a treat for you. It was a treat for me. Always grateful for Andrew coming on the show. Uh, listen, I don’t wanna, you know, create any further ado. I don’t know. I don’t think that’s the right way to say that, but anyways, uh, I wanna jump into it right with Andrew. Hey, I just wanna point out real quick, we’ve got a bunch of free resources at laundromatresource.com/resources. Go check ’em out over there.

Jordan Berry [00:01:58]:
Browse around on the website. There’s a whole bunch of stuff to help you get started or give you a rocket boost on your laundromat journey. So depending on where you’re at, go check it out. laundromatresource.com. Let’s jump into it with Andrew Cunningham back on the show. Andrew Cunningham back on the show, man. How you doing?

Andrew Cunningham [00:02:17]:
I’m doing great. How are you?

Jordan Berry [00:02:20]:
Uh, dude, you know what? Anytime I get to sit down and talk laundromats with you, I’m having a great day already, so I’m, I’m excited.

Andrew Cunningham [00:02:27]:
You know, you’ve been around the world a few times, and, uh, you’ve got some really interesting, uh, podcasts with other people and their experiences. And I like the idea that people are sharing more and more about this industry. Uh, the smarter we operators become, the better off we’re going to be in the long run. That’s right. And, uh, it’s, it’s important to stay enlightened in what’s going on with what’s happening in industry. And, uh, the reason why we’re going to talk today is a couple of things that I’ve got on my mind that I haven’t been able to talk to pretty much anyone with. And so I figured, well, I’ll, I’ll come in and twist your brain since you hear a lot of things.

Jordan Berry [00:03:05]:
That’s right. Well, listen, man, if there’s anybody who you can gripe about this industry with, uh, and, uh, it’s me, man. I, I love, uh, talking the good things and the bad things and, and talking about how we can make these things better and how we can make it better for owners, how we can make it better people getting into the industry. And, uh, I know we share that, that desire, that passion. So, uh, what’s on your mind, man? I said, what’s on your mind? I mean, that’s a little bit of a scary question to ask you, what’s on your mind.

Andrew Cunningham [00:03:35]:
But there’s a lot on my mind. Um, you know, it’s interesting. Um, you know, I get a lot of questions these days about wash, dry, fold.

Jordan Berry [00:03:41]:
Yeah.

Andrew Cunningham [00:03:42]:
And, and it’s a, it’s a topic that, um, we’re all still learning about. And, you know, um, The— some of the biggest things that, that I’m faced with when people want to grow their business, they want to get into the wash, dry, fold business, and, um, they have an existing laundromat. And when you look at the existing laundromat, there’s really no room to do what they want to do, to do it efficiently. I won’t say poorly, but efficiently, because you need a place for someone to drop it off. You need a place for a scale if you’re using a scale, uh, or if you’re using bags and you’re just charging per bag. But you also need a place to store the finished product. And then you need rules and regulations for the employees about when they can do wash, dry, and fold, what machines do they use for wash, dry, and fold. Um, if you’re in a card system, you’re in a better off because they can start the machine.

Andrew Cunningham [00:04:38]:
You know what machine they’re starting and what it’s costing them. If it’s cash, you don’t have any really, uh, uh, uh, uh, restraints on it. Some cash gets walking.

Jordan Berry [00:04:49]:
Yeah, no cash accountability there, right?

Andrew Cunningham [00:04:51]:
Yeah. And, um, and then you also have, I, I don’t want you to do laundry when it’s busy. Well, they don’t know what busy really means.

Jordan Berry [00:04:58]:
Yeah.

Andrew Cunningham [00:04:59]:
Um, and, you know, they may have, uh, 2 or 3 machines they’re using, but they’re spread out over the whole store. Um, and, and, and then do you do the, the business at night And now you got more labor hours, so you got more costs associated with that product. And then where do you store the product and how many days product do you store? What’s the average turnaround for someone to come back and pick up their clothing once it’s done? And so you start to cannibalize the existing self-service with this— I think I could take out a couple of dryers. Well, if you take out a couple of dryers, now you’re gonna upset the balance between the poundage for my washing machines and the poundage for my dryers. And you know, okay, well then I’ll add some bigger dryers and you go, okay, but you’re really only gaining 15 pounds per dryer. If it’s a 45-pound stack or it’s a 50-pound, 20 pounds, so how many more of those do you have to put in? And the next thing you know, it’s a 50 or $60,000 hit for 5 more machines or whatever the case may be, and it’s starting to not make it look profitable. So you kind of pull the reins back. So the question is, is that what I thought of is, is that at all these seminars, and I haven’t been to one and I probably will be going to a couple, but all these experts in the seminars that they’re putting on in New— in, uh, OIC, Tennant, uh, and Nashville and across the United States and Texas, whatever.

Andrew Cunningham [00:06:19]:
When you go to these seminars, what are they talking about? How to do a laundry quicker, more efficiently, how to raise prices, how to market. Are you talk— where’s the growth? And if they’re talking growth, what are they talking about growth-wise and how to take existing things that we have and use them and expand it from there as opposed to trying to grow it by adding another location. Well, you’re going to add another location. You still have all the utilities, all the startup costs, all that. So you, you’re up against the wall that every laundromat owner is up against. If I want to make my own laundromat, what’s it going to cost to build a new laundry? So those are some of the things that I get asked weekly from my customers that, you know, it’s, it’s, it’s a, it’s a conundrum. What have you heard? Yeah.

Jordan Berry [00:07:08]:
What have you— well, you know, it’s interesting. I mean, I’m, it’s interesting you bring this up because, and, and by the way, this is, uh, you know, Andrew has Laundromats Unfiltered. This is Laundromats Unfiltered. We have not prepped this. We can just rap on laundromats all day long. So you’re getting the, uh, Laundromats Unfiltered here with the Andrew Cunningham. Uh, but it’s interesting you bring this up because I’ve actually been Uh, having more and more clients who are interested in building from scratch, uh, in, in, you know, in Midwest markets, but also in coastal markets, uh, which I would say happens less so, or has traditionally happened less so because it’s expensive in a lot of the coastal markets. But I think one thing we’re bumping up against, and you’re kind of dancing around this too, is we’ve got an aging infrastructure of laundromats in our country right now where, um, yes, I mean, like pipes and stuff are getting older, but what I mean by aging infrastructure is most of the laundromats that were built in a lot of these places were built for a different kind of laundromat business than we’re running these days.

Jordan Berry [00:08:18]:
Right now we’re running larger machines, we’re running more machines, we’re doing wash and fold, pickup and delivery. What’s the biggest constraint, the biggest complaint from anybody has a wash and fold or pickup and delivery? Storage. And the reason for it is stores were built smaller. They were jam-packed with machines. There was no forethought into storage on the wash and fold. And so, you know, a lot of people are actually just looking at the laundromats around. And number one, they’re really hard to find right now to buy them. Um, in fact, um, by the time this comes out, at least I will have had a video out that goes through our insane system that our team goes through to help people find a laundromat.

Jordan Berry [00:08:59]:
We have an insane system, but that’s what it takes to find laundromats for clients these days. And if you’re looking to, uh, it’s, it’s tough to find them, right? So even if you can find them, they’re priced high and they have this sort of aging infrastructure. They’re built for a different business model than what— where our industry is heading right now. And it’s tough. This is tough to navigate. All this.

Andrew Cunningham [00:09:22]:
Are you— so we’re going to touch on a couple of things that you just mentioned now, which is really that I have on my cheat sheet here. But are you specifically dealing with self-service or wash, dry, and fold? Are you finding more clients calling you up and go, you know, I like self-service, but I don’t want to pay the price for that, for that store, because it’s, it’s, it’s, it’s not worth it? And so am I better off finding a 1,000-square-foot, uh, industrial building and opening up my own wash, dry, and fold because I really just want to be in the wash, dry, and fold business. I don’t really want— I, I don’t mind being in self-service, but I don’t want to pay the price to be in self-service.

Jordan Berry [00:10:01]:
Yeah, yeah.

Andrew Cunningham [00:10:02]:
And then what’s the cost of startup? So are you seeing an influx of people calling you up and going, hey, do you have any just wash, dry, fold facilities?

Jordan Berry [00:10:11]:
Uh, some, yeah, some, yeah. But I mean, I think here’s the thing is that All the social media hype right now is on laundromats, right? And, and like laundromats specifically. And I guess by that I mean mostly self-serve is highlighted the most, collecting the coins, showing the fat stacks of cash, talking about how we left our 9-to-5. So, I mean, I think that’s the biggest hype, but I see a huge influx of people coming in trying to start a pickup and delivery, bootstrapping it. Either doing it at somebody else’s laundromat or picking up a couple machines in their garage or something like that. We’ve had a couple of them on the, on, on the show here. Um, and I, I am seeing more, but still not very many people who are like, I want to go build, uh, I want to go build a, a, a, uh, pickup and delivery warehouse, uh, processing plant. Um, I have, I have two clients like that right now that are looking for that, but Still not a lot compared to people looking out there.

Jordan Berry [00:11:09]:
Yeah.

Andrew Cunningham [00:11:09]:
Okay.

Jordan Berry [00:11:10]:
Awesome.

Andrew Cunningham [00:11:10]:
For them.

Jordan Berry [00:11:11]:
Awesome.

Andrew Cunningham [00:11:11]:
I won’t let it out today, but I— but you and I will talk privately. I have something for them. And then that’s part of this, this, this feel about, about what are they talking about in these seminars? How are they talking about growth and how do they expect to get growth? Because I personally believe that the wash, dry, fold income as it is right now based on self-service, and so the total number I think that it’s probably— you’re looking at about a 60/40, 60% self-service and 40% wash, dry, and fold. I believe wash, dry, and fold will eclipse. I agree. I think that the, the, the younger generations, um, are not interested in doing laundry on the weekends or during the week. Uh, they, they want somebody else to do it and they’re gonna go do something else.

Jordan Berry [00:11:58]:
But here’s the thing, I don’t think I qualify for the younger generation anymore. And, and, uh, I also don’t want to do laundry on the weekend. So I don’t think it’s just the young. I know you’re saying like, that’s the trend. That’s where it’s going. But here’s the— I’m curious what you think about this. Cause here’s another, um, thing that I think we might be heading towards right now is it might be necessary for most laundromats, or at least many laundromats to have a larger wash and fold or pickup and delivery business in order to make a living. Like I’m watching, uh, machine prices go through the roof.

Jordan Berry [00:12:35]:
I just talked with a client yesterday who they, they, uh, bought and retooled a laundromat last year. They’re doing it again right now. And they got an equipment quote for an ident— identical, uh, equipment mix, same exact distributor. Uh, no, no new versions of the equipment or anything like that. $120,000 more this year than last year. For that same quote. And we’re seeing those prices going up, obviously, like rents are going up, utilities are going— like expenses are, are tough right now. And I’m wondering if we’re going to get forced into having a wash and fold business here pretty soon, especially in the bigger markets.

Jordan Berry [00:13:16]:
I’d say I would agree.

Andrew Cunningham [00:13:18]:
I think that the, the social economics that you just explained, as well as the, the, the the lack of space in the existing laundries.

Jordan Berry [00:13:28]:
Yeah.

Andrew Cunningham [00:13:29]:
Are going to create that need. It’s, it’s, it’s, it’s a, it’s, it’s a real thing that’s happening here and that needs to be addressed. Yeah.

Jordan Berry [00:13:37]:
Which, by the way, I mean, this is a little teaser and you and I can talk offline. We haven’t really talked about this yet, but I’m— I’ve got a potential solution to, to that issue as well. I know you’ve got some ideas too. We’ve talked about a little bit of that, but I got some stuff to share too. It’ll be coming out here not too long, but I’ll fill you in before we go public with it.

Andrew Cunningham [00:13:56]:
Right. Sure. Right. Yeah. Okay. Okay. So, so that, that covers— that covers that topic. The next topic that I wanted to talk about was, you know, um, it’s near and dear to my heart because I, I haven’t seen anybody address it yet.

Andrew Cunningham [00:14:12]:
And, um, and I’m going to share this with everybody out there. And so anyone that wants to have a conversation with me on it, don’t, don’t be shy. Zing me. Just send me questions left and right. This industry is in dire need of a, a service and repair company. Dire need. Yep. And the only way it’s going to work is if you give them part of the company so that they don’t leave you in, in a year and a half after they’ve got all their knowledge to go out on their own.

Andrew Cunningham [00:14:43]:
You got to make it fat enough to where, hey, everybody’s going to make some money here. But I mean, there’s only a handful of installers Good luck getting them in at any given time. And on any given time, any installer that you have is going to get a hit— is going to take a hit. They’re going to get dung for not being there on time, working on another project, trying to finish up. They’ve got 6 or 7 deals going on because they’re trying to live too. And you need 4, 4 dryers installed, it takes forever, or you need something repaired, God forbid. And try to get a mechanic in there, try to get them in there with the parts. Mm-hmm.

Andrew Cunningham [00:15:22]:
And then the time it takes to do it. So if someone came to me today and said, I want to make a lot of money and I want to be in the laundry man industry, I’d say I’d start my own service company and I would, and I would make— keep it small to begin with. And I wouldn’t just limit it to washers and dryers. I’d branch out and it would be security and it would be the cameras and it would be in the cloud and it would be the voice down. And you would just sell your own have your own subscription on a monthly basis, and you’d have trucks that went out and just handled the cameras. You’d have trucks that went out and just handled the equipment, and you keep it small so you can replicate it. And then someone’s going to come along and go, does this really work? And you go, yeah, here it is. I got 8 employees, I got 4 trucks, and this is what we’re doing.

Andrew Cunningham [00:16:04]:
And they’re just gonna put the money in and expand it. But this— what’s really needed in this industry in the big picture, because there’s nothing out there. And the guys that are out there now are already in their 40s or later. Yeah, or later. And it’s— and you’re, you’re not going to get what you need. And so if you want to do it, and most of the owners will say, well, the big— the chain guys, and this is— I like this— the chain guys, anything east of Colorado, because everything west of Colorado, you don’t see a lot of chains. You see more chains in the Midwest and the East Coast. You know, you got a guy that’s got 40, 40 stores.

Andrew Cunningham [00:16:45]:
In California, I know there’s chain operators, but there aren’t a lot of them. And a lot of the chain operators are 3 or 4 unit, 5 units operator. They’re not 10, 15, or 20 unit stores— I mean, chain operator. Most of them have a in-house service and repair. But for the mom and pops that have 1 and 2 stores, they rely on themselves to be a handyman, and they rely on themselves to be able to do some of the minor repairs. Not a bad thing. But for the major repairs, which every laundromat has over time, they’re sunk and they have to wait. And what suffers is your pocketbook suffers because you can’t have that equipment fixed in a reasonable amount of time.

Andrew Cunningham [00:17:24]:
Customers walk in, they don’t have faith in the fact that your machines are going to work, and therefore they’re going to go to somebody else who’s got newer equipment, not because it’s newer but because it works. And, and, and that’s where you’re at. And then you struggle to find a guy to keep them, and you might pay them some more, which would probably wouldn’t hurt But that’s the biggest challenge I see in this industry going forward besides the wash, dry, fold, which you talked about. But the reality of it is we need to find— or somebody needs to step up and start the service and repairs and make it work because we can’t fix everything else we have out there right now.

Jordan Berry [00:18:01]:
Yeah, well, I listen, I know you and I have had conversations over the last maybe couple of years about putting something together there. And I, you know, listen, I’m just going to put it out there. Uh, anybody out there who’s like, hey, I want to join these two. And I think, I think we need one more to get us going and get us in the right direction. Somebody’s out there and it’s like, hey, the three of us can, can get this thing off the road. I’m, I’m in. Just shoot, shoot one of us an email. [email protected].

Jordan Berry [00:18:31]:
Andrew is at laundromats-unfiltered, uh, laundromats-unfiltered.com, right?

Andrew Cunningham [00:18:36]:
Right. Uh, yeah.

Jordan Berry [00:18:37]:
Connect up with us if, if that’s something that piques your interest, because I think it’s a huge Uh, I’ll call it an opportunity, but only because I’m putting a positive spin on a huge problem. Uh, and, and, you know, the, the problem is real. And I, you know, I refer clients out to service, uh, you know, repair techs right now all the time. But if I can, but most of those guys are already— they’re full, man.

Andrew Cunningham [00:19:06]:
They don’t have— I didn’t get a callback.

Jordan Berry [00:19:08]:
Yeah.

Andrew Cunningham [00:19:10]:
It’s not my company. I don’t know what to tell you. I mean, yeah, let me try to find somebody else for you, but yeah, they’re, they’re full.

Jordan Berry [00:19:17]:
And it’s because, you know, there’s plenty of business out there. Cause you know, you mentioned they’re, they’re all 40, 40 plus, most of them. Uh, but, but the other thing of it, there’s not enough of them, like even whatever age, it doesn’t matter what age, it doesn’t care. It doesn’t matter, 20. Uh, there’s just not enough of them out there. And so it’s a huge problem. Um, and, and I can say confidently— I know you could say this too, um, but I could say confidently it’s not a Southern California problem. This is a nationwide problem.

Andrew Cunningham [00:19:47]:
I was just gonna say that. I mean, I would love to have input from Texas and, and Oklahoma and New Jersey and whatnot. I think that we’re not— this isn’t isolated. This is something that needs to happen. And there’s companies out there that, you know, are looking for expansion, and, and this would be, you know, you You could take just an appliance company that fixes equipment and say, hey, you’ve got the vehicles, you want to stay busier, we’ll show you how to do it. I mean, yeah, yeah.

Jordan Berry [00:20:20]:
Or maybe we just go out and acquire some of these appliance companies.

Andrew Cunningham [00:20:22]:
Well, that would be another one to look at, you know. And I’m sure there’s a couple appliance companies that are for sale. The guy’s worn out and he’s in his 60s or 70s and he wants out and he’s tired of it and You know, but it is, I think, one— I think the number one issue when it comes to the operational aspects of a laundry. I think we’re nailing down the POS systems, the card systems and the verifications of this and tightening up on this and labor on that. We’re doing our best to cut back on utilities, putting all the energy efficient things together. And I think this is, this is just the one big glaring hole that, that really absolutely needs to get looked at and try to figure out Uh, it’s not gonna happen overnight, but at least, you know, we’re gonna address it here.

Jordan Berry [00:21:07]:
Well, it’s a, it’s a potentially fatal point. It’s like the, the weakness in our armor here because we can’t, we can’t run laundromats if we can’t get ’em repaired, right? Distributors can’t sell laundromats. Manufacturers will not be able to manufacture more machines cuz they’re not getting sold cuz they can’t get fixed, right? It, and on down the line, uh, we can’t operate our businesses. Our clients can’t get their clothes washed if we can’t get ’em fixed. I mean, obviously, listen, there are people out there who can, who can work on them on their own, or the— and there are service techs out there, but just not enough. And the downstream and upstream effects of that, as this problem continues to get worse, are only going to get exaggerated— exacerbated. They’re going to get worse.

Andrew Cunningham [00:21:53]:
Exacerbate.

Jordan Berry [00:21:55]:
Yeah. Thank you. Yeah.

Andrew Cunningham [00:21:56]:
All right. So let’s talk to another one of my favorite little topics here.

Jordan Berry [00:22:00]:
We’re just checking them off the list right now.

Andrew Cunningham [00:22:01]:
I love it. So I can’t tell you how many times in the last 6 months, you know, I got a listing and, you know, and I’m answering all the biz buy sell leads and there was quite a few of them. And, you know, I start to talk to a buyer and, uh, the first thing is, is that sometimes you gotta reframe them from whatever they’ve talked to or whoever they’ve talked to prior to talking to you because they’ve got some ideas that were— they were given that, that really aren’t, um, not truthful is not the right word, but, um, beneficial, or, or, uh, they’re not the total picture. Yeah, wouldn’t say they’re lying, but you know, it’s, it’s, it’s, it’s just something they’ve been told.

Jordan Berry [00:22:48]:
There’s some misinformation out there.

Andrew Cunningham [00:22:48]:
Yeah, and you need to kind of put them back on the— put the train back on the track and watch you go down the lane. And, and, and the biggest one is, is that they want to buy a laundromat for 3x. Now, I can’t tell you the last time I saw a laundromat that was for sale for 3x. By the way, for anybody who doesn’t understand, 3x is the multiple that you give the net income after the proper expenses and the gross income.

Jordan Berry [00:23:13]:
It’s the— it’s the value of the— of the laundry. That’s right. That’s what we’re talking about.

Andrew Cunningham [00:23:18]:
Age of equipment, length of lease, and condition of the, the industry itself. And then you weigh it on the, the competition and, and what they’re doing and free parking and exposure and lighting and, and all the above that goes into this package. But several times I’ve had to talk with them and say, where are you getting 3x from? In fact, where are you getting 4x from? And, and, and, you know, I’m sure that there’s 4x’s out there that you could buy, but I’m not sure that the length of the lease is the right one, or, or you haven’t really taken into consideration that there’s 9 competitors, or there’s a bunch of other things.

Jordan Berry [00:23:57]:
And, and, or The net income’s not right and it’s not really 4x, it’s 7x when you get the real numbers, the real expenses.

Andrew Cunningham [00:24:04]:
And, you know, it’s, it’s, it’s, it’s— yeah. So, so it’s, it’s where are we in, in, in today’s market? First of all, I can, I can speak for most brokers out there. The ratio— and this is probably a little bit wonky, but I will tell you that the ratio of buyers to sellers is probably 500 to 1. Oh yeah, because of all the advertising, all the TikToks, make your money. Oh, I just saw one the other day that got me was, I was a nurse and now I’m, I’m, I’m, I’m, I’m in the laundromat industry, look at all my money. Yeah, okay, okay. So I mean, I love the story for her.

Jordan Berry [00:24:48]:
Yeah, good for her.

Andrew Cunningham [00:24:50]:
Yeah, yeah. But the reality of it is, is that you’re trying to buy a laundromat in a a, a rougher neighborhood and you’re gonna repaint it and make the floor nice. You, you’re going to add equipment, hopefully, and you’re going to give it a shot of making this thing more profitable than it was before, which is the truth. But the truth of the matter is that things are selling at 5x. And I’ll tell you a quick story. I was at the Clean Show and, uh, I was sitting down for lunch and I was introduced to a guy by the name of, uh, Heinrich, and, and he’s, uh, on the East Coast, and, uh, he’s, uh, his dad had the distributorship, and I think he had the distributorship, but he owns a chain of laundries. And I’m having lunch, and he— we traded how long we’ve been doing what we’ve been doing, and we got some good laughs. And, and he said to me, he goes, is a card store worth more than a coin store? And I looked over at him and I said, well, of course it is.

Andrew Cunningham [00:25:54]:
And so we debated back and forth the reasons why it was. There’s no collecting of quarters anymore, no hassles with that. You don’t— you’re not playing your dirty, dirty money. It’s not— I mean, all the things that went in. You’re saving 4 or 5 hours a week from collecting quarters, uh, real quick.

Jordan Berry [00:26:11]:
I just want to— I just want to say There is no debate about that. It’s absolutely more valuable and it— all that stuff is true that you’re saying, but the, the real reason it’s more valuable is, and this is, I think where you were going with it, but the real reason more valuable is because it’s trust and security, right? You, you have a better idea of how the laundromat is actually performing. That’s worth more than the ambiguity of the napkin P&L or the spreadsheet P&L even. That’s why it’s worth more.

Andrew Cunningham [00:26:43]:
I can run more stores. I can run more stores.

Jordan Berry [00:26:43]:
Yeah. And the management, all of that. But, but the, the, the core of the value is certainty, trust, uh, security, less risk in those stores. And like you’re saying, the, the management capabilities, but that’s, I would say, I would argue that’s secondary to the, the lack of risk in those stores.

Andrew Cunningham [00:27:06]:
Well, what the other thing is that I know that, that, that, that, that, that the lenders in this industry are happy when they get an 18-month printout from one of the card systems and they look at it, they go, yep, numbers are here. I mean, you don’t need— I don’t need the, the, the, the, the tax return or whatever the case may be. This is perfect for me. It’s— it makes our job that much easier to, to get the buyer to see that there’s— what they’re telling is the truth. And then you match that up and they go with the expenses. You got— the only thing you don’t have on expenses nowadays is actually the repair bills.

Jordan Berry [00:27:45]:
Repairs going right back to it, huh?

Andrew Cunningham [00:27:47]:
Right. Yeah, I have.

Jordan Berry [00:27:48]:
Right back to it. Yeah.

Andrew Cunningham [00:27:51]:
And so, um, so anyway, so what we— what I ended up talking with this gentleman with, who’s been in the industry longer than I have, and I’ve been in quite a bit, um, is the fact that is 6x around the corner. And I, I got news for you,

Jordan Berry [00:28:11]:
it is— it’s not, it’s already here. And so like some of these card stores are already going, if they’re newer machines, fully automated, shorter— a longer leases,

Andrew Cunningham [00:28:22]:
and, and the rent-to-gross ratios are all falling in under the 20%. You’re looking at it, you’re going Why wouldn’t I? And the other problem is what’s on the market? What is available today? You take today versus 2021, and you look at on the average that there was probably 30 laundromats for sale at any given time in Southern California. Not the rest of the world, but just Southern Cal. And of those, there was at least 15 of them that were really sharp. You could go in there and had a nice long-term lease. You didn’t have to negotiate that. You’re going to buy new equipment because you wanted to change the equipment mix from those top loaders into another— you were, you were going to make this a run and you did. That was then, this is now.

Andrew Cunningham [00:29:09]:
There, there probably is a half a dozen decent laundromats on the market today, and most of the laundromats that are very profitable and are selling for 6x the broker who has the listing, he’s already selling it to one of his buyers and it never hits the market. Mm-hmm. So when I talk with clients and I’m trying to give them a perspective of what’s going on, I say, look, if you find something that you like and it’s worthwhile and you’re not going to get a 20% ROI, but you’re around 16%, you may want to look at that and say, I think I’m going to take that. So I take it off the market because is there anything better that I’ve seen in the last 6 months or a year? That’s going to beat that. And to stick on this 20% ROI— listen, I’m with you, but today you’re going to have to look at it from a different perspective. Brings you to the next question: wash, dry, fold, pickup and delivery— are they worth the same multiple, or are they worth more, or are they worth less?

Jordan Berry [00:30:18]:
Are you asking me? You want me to answer?

Andrew Cunningham [00:30:19]:
Sure. Well, I mean, we’re, we’re playing volleyball here. I want to see the ball go back and forth.

Jordan Berry [00:30:24]:
Yeah. I mean, always it comes back to, it comes back to, uh, what would you rather have? A card-operated self-serve laundromat that made $100,000 a year net, or a pickup and delivery where you have more employees, you have more logistics, you have a vehicle you have to maintain, but you still make, uh, $100,000. Which one would you pay more for?. And I think unless there’s huge potential to massively grow that wash and fold, that pickup and delivery easily, 99 times out of 100, you’re going to choose the self-serve because it’s easier. So the multiple for that self-serve is more appealing on the, on the market right now than the wash and fold, which means that the multiple is higher than, than the wash and fold. I don’t know, do you agree or disagree?

Andrew Cunningham [00:31:12]:
Well, you say so, so, so— well, I’ve had, I’ve had conversations where people have told me the wash, dry, fold is only worth 3x, and I’m like,

Jordan Berry [00:31:20]:
well, I don’t know about that.

Andrew Cunningham [00:31:22]:
No, no, no, I— my question is, why would you say it? Why would you— where would you give me the data to support why it takes more to get there? Okay, and they’re going to say, well, you don’t have permanent customers. Well, hold on, that’s not to say that they don’t, But tell me that you have permanent customers in your self-service. Show me, demonstrate to me that the reason why those customers are here, because they have a monthly contract with you. They don’t have a monthly contract with you. You just happen to be giving them the best possible service in the self-service. A clean, safe, well-lit laundromat, well-priced, good parking that they can come in and come and go wherever they want. Safe. Okay.

Andrew Cunningham [00:32:02]:
No different than wash, dry, and fold. Those people are actually paying more for the service.

Jordan Berry [00:32:07]:
Well, I, I think I would argue that’s where there’s a little more risk in the wash and fold, pick ’em, delivery. Again, I don’t, I don’t think the despair— the disparity between multiples is very big, but I would still, I think, unless you can convince me otherwise, which I’m willing to be convinced, I would still think there’s a little more risk on that because I know that as hard times hit or, or, you know, recessions hit or business model changes, you lose some customers or whatever. Those things that you outsource oftentimes become, become the first things that you’re like, okay, we’ll take them on ourselves to save a little bit on money. And that’s where I think there’s a little more risk on the service side of the business— wash and fold, pickup and delivery— than on the self-serve side.

Andrew Cunningham [00:32:49]:
I don’t know, I’m open though. I, I— my, my thought process, I don’t think the discrepancy is that far.

Jordan Berry [00:32:56]:
I don’t either.

Andrew Cunningham [00:32:57]:
I, I think that— and I think

Jordan Berry [00:32:58]:
it’s narrowing, to be honest with you, because like you said, especially if there’s even an established wash and or pickup and delivery that’s breaking even or making a little bit of money. Like, I think you were starting to say this, like, it’s a lot of work to start these businesses from scratch. It’s a lot of work, a lot of time, a lot of effort. And there’s a ton of value in being able to start from that pedestal of, hey, we’re already breaking even or making a little bit of money, and to be able to build up from there.

Andrew Cunningham [00:33:26]:
I agree. You know, uh, that’s why— and same thing with pickup and delivery, because you’ve got, you’ve got more more components go together.

Jordan Berry [00:33:34]:
Yeah, I think even more so on the pickup and delivery.

Andrew Cunningham [00:33:36]:
Yeah, I’d be interested to hear some people chime in on that that have the experience, like finance people or what have not. They’re looking at doing valuations and why they’re valuing— if they are— the pickup and delivery less. That would almost be like, well, let’s just— let’s take out the vending because, you know, the vending is, you know, you just stock a machine and then they just buy it and it’s not worth it. But I haven’t seen anybody discount the vending. I mean, I know some people that do $7,000, $8,000, $9,000, $10,000 a month in vending. Oh yeah. And it nets— it nets about 50% or about 45% of that. You’re going to tell them, oh, that’s only worth a 1x, and we’re going to sep— we’re now going to separate self-service from pickup and delivery and wash, dry, and fold, because pickup and delivery and wash, dry, and fold both have different, uh, multiples, and then you have vending and it has a different multiple.

Andrew Cunningham [00:34:27]:
I don’t think that that’s the way it should be, but I’m telling you that there is a thought process that goes with that, and I’m not for it. I think it all goes together for, hey, here’s the value of your business based on the cash flow, the correct cash flow, the expenses, um, the, the location, the age of the equipment, the length of the lease, and the, the, the language in the lease. On whether the options are personal to the seller or they’re not personal to the seller and on down the line. And you start to look at it and those are the things that you use to value a

Jordan Berry [00:35:03]:
laundromat. Agree, agree. And I mean, I think it’s a— I’m glad we’re having this conversation right now because it’ll be interesting to jump back on here next year or, uh,

Andrew Cunningham [00:35:14]:
I’m not waiting 2 years from now. I’m gonna wait.

Jordan Berry [00:35:18]:
Well, listen, I, listen, I, I know that, but I mean, I think revisiting this conversation next year, 2 years from now to see, I think there’s a, there’s a chance that flip-flops, you know, where in, at least in my mind, where wash and fold, pickup and delivery, that multiple is actually higher than, than the self-serve laundry, because your, your potential for growth, your, your potential for expansion, your potential for your, your cash flow is much higher most of the time in pickup and delivery than it is in self-serve because you’re so limited. By such a small radius in self-serve. And you’re also limited on how you can get customers and what kinds of customers you can get. Whereas on the pickup and delivery, you can go commercial. You can go, you know, small commercial, like spas and salons and stuff like that. You can go residential, you can go big. I just did an interview that either will have just come out or maybe come out right after this, uh, with, uh, with Randy, who is crushing it and does big, big, big commercial clients, um, in his laundromat, his laundry facility. So, uh, I think the potential for revenue is massive in there.

Jordan Berry [00:36:29]:
And I think there’s a possibility there’s a point in time where wash and fold pickup and delivery business is actually valued more than the self-serve.

Andrew Cunningham [00:36:37]:
Well, I think, I think what’s going to happen, and I don’t, I don’t like to hear this, but I think what’s going to happen is this is a smaller 1,000 square foot or, or 1,500 square foot laundromat. It’s going to, going to be faced with higher rents. Utilities are going through the roof, and, and they can’t, they can’t put more poundage in there because they don’t have wall space. And you’re gonna— there’s a, there’s a

Jordan Berry [00:37:00]:
solution coming for that. Yeah, there’s, there’s a solution coming for that, uh, ASAP. Oh well, and here I’ll just, you know, just one of the things I saw at the Clean Show, right, uh, is, you know, one of the, one of the things that won Product of the Year is the washer-dryer combo machine where it’s a washer and dryer. There’s no changing from one machine to the other. Electrolux had one. I want to— I think they won product of the year there, but right, I want to say even maybe Alliance had one or somebody else had one as well. And, uh, there’s more of that coming. I think that that is coming up in the future here where those washer-dryer combo machines, which have a questionable reputation in Uh, in the residential space, some people love them, some people hate them.

Jordan Berry [00:37:45]:
But when I travel overseas, I’m seeing these machines crush it and they’re way more technologically advanced. And I think there’s a huge, uh, case to be made for them. I— interesting.

Andrew Cunningham [00:37:59]:
And it’ll be interesting to see.

Jordan Berry [00:38:01]:
And if you don’t have, uh, if you don’t have to put a washer and a dryer, two separate units, you, you know, for your washer and dryer, now you’ve just doubled your capacity, your wash capacity by getting rid of a

Andrew Cunningham [00:38:13]:
bunch of your— those. But okay, yeah, a limitation to that would be is that you’re going to have to have venting for those washers, for those dryers there, and therefore, okay, so now you’re going to, you’re going to break away from the old pattern of having dryers in the wall because that’s how they vent. Okay. And then the back-to-back situation that you have your aisles are now going to be twice as wide, that the bulkheads are going to be twice as wide because you’re going to need the mechanical parts to be able to vent up through there and go straight up too. So there’s some things that I think

Jordan Berry [00:38:52]:
they’re, they’re, they’re engineered a little differently. I think you’re going to be surprised at how these things come out and how, how well they are.

Andrew Cunningham [00:38:57]:
So some pictures.

Jordan Berry [00:39:00]:
Yeah, uh, I’ll, I’ll show you something. I’ve taken a look at some of them, uh, pretty hard look at some of them, and I think you’ll be surprised at how well they go. Uh, I don’t know, I’ll be interested to see if they catch on here in the States. Uh, and, uh, I, but I think that there’s a case to be made, especially, especially in some of the bigger cities like New York where there’s LA, where there’s a lot of bowling alley laundromats, things like that. I mean, I think that’s, that’s huge. So anyways, I don’t want to get down that rabbit trail too far, but we got

Andrew Cunningham [00:39:34]:
that. Um, So we covered repairs, we covered installation, we covered the seminars and the growth. Where are we going with this?

Jordan Berry [00:39:46]:
Well, I— that’s, that’s one of my questions here is, uh, I mean, what do you, what do you see? I mean, we, we talked about a lot of this stuff, like, what are you seeing for this industry? Like, is this— I’m, I’m not trying to be, uh, you know, tongue-in-cheek here or anything, but But genuinely, like, we’ve talked about a lot of like these difficulties in the industry right now. What do you— are you still, are you still bullish on laundromats? If somebody’s thinking about getting into them right now, we’re talking about a higher multiple, increased costs, some of the struggles, no repairs. Like, what do you think?

Andrew Cunningham [00:40:18]:
I think, I think that we’re in a, in a, uh, a growing pains, uh, process right now. We’re in growing

Jordan Berry [00:40:27]:
pains.

Andrew Cunningham [00:40:27]:
Um, a lot of attention has been brought to our table, which, um, uh, the industry has tried for a long time to get aware— people aware. And now, uh, I’m not sure that they, um, were, um, uh, ready for it. What’s that?

Jordan Berry [00:40:45]:
Ready for it?

Andrew Cunningham [00:40:46]:
Yeah, or prepared for it. Yeah, that would happen. And I think that because of the internet and everything that it represents it, uh, aided and abetted this in a big way. Yeah. Um, so, you know, I, I’m, I’m still bullish. I still think that there’s a— there’s years to go and miles to go on this. And, and, and, uh, a smart, savvy, uh, operator, uh, is going to do quite well in the business, um, and to keep his eye focused on, um, you know, providing services and, and in a safe environment. And, and, you know, um, every year raising your prices so that you can keep ahead of the inflation and keep ahead of utilities and the, uh, the, the rent and what have not.

Andrew Cunningham [00:41:26]:
I think, you know, I think you’re going to be there. That’s why— another reason why on the wash, dry, and fold, you’re going to see that the prices inch up. And on the individual machines, and someone’s going to go, you know, it would be cheaper if someone did it for me, and if someone could do it for me, I want to pay for that. So, you know, that, that portion’s still there. Um, but any, you know, anyone who, who, who wants to, to, to talk to you or me about, uh, the industry, they can always give either one of us a, a ring and say, hey, what do you think of this? What do you think of that? Because we’re both open to to explore new ideas, and I would embrace it. Um, you and I have to talk about, uh, this idea that I have on, uh, the wash-dry-fold, which I think I shared with you, but I think, uh, now’s the time to probably look at how we can, uh, improve upon that, uh, model.

Jordan Berry [00:42:14]:
Yeah, yeah, yeah. And I’ve got some ideas. We have talked a little bit about it, uh, and I’ve got some ideas, but I, I, you know, uh First of all, I like how you were able to sneak makeup air back into here. I feel like every episode makeup air has to come back in. Uh, and I still— curse you, by the way, curse you, because I still— every single week I have at least one consulting call where somebody’s talking to me about makeup air, and every time I’m like, that son of a gun Andrew. He’ll tell you all about it. Yeah, son of a gun, man. He’s making me talk about makeup air again.

Jordan Berry [00:42:50]:
Uh, but, uh, yeah, snuck it in there. Uh, uh, listen, I’m, I’m curious, you know, we talked a lot about like what’s happening now and a little bit about like where things might be going, where we think things might be going, uh, in, in a, in a few different

Andrew Cunningham [00:43:07]:
ways.

Jordan Berry [00:43:07]:
Uh, I’m curious if you have any, like, okay, you’re talking to an existing owner out there right now. What do you think? Is the most important or one of the, one of the most important things that existing owners need to be either thinking about or doing right now to not get left behind as things are changing pretty rapidly in our industry right now?

Andrew Cunningham [00:43:29]:
I think that they— I think that everybody should be on the security train and everybody ought to have cameras and everybody ought to be able to videotape. There’s more slip and falls, there’s more BS happening. And even to be able to voice down and say, I’m watching you, I’ve called the police to the guy who’s about to use your top loader for unmentionable things. And, and I mean, just— and it’s all happening. Everybody, every one of us has been there. Um, and, and, um, I think that, um, it’ll give you a sense of, um, a level of security. But the cost to put in 8 cameras, um, and for someone to maintain it for you, um, is, is a lifesaver. I think that, uh, I think the next level is to— for a peace of mind that you can do that..

Andrew Cunningham [00:44:18]:
And I also would recommend that they all have automatic door locks, that they automatically open in the morning and then at night someone closes them so that they’re not constantly having to be there. Remember, your time is valuable. And that’s— we’ve— some of the things that I’d look at. The other thing I’d look at, now that you brought it to my attention, is on coin laundries. If you’re still in the coin business, I think you ought to consider in your next upgrade to go to a card system. The benefits outweigh anything you could. If not, then you need to look at your changers, and you absolutely, positively have to have at least, um, enough coin in those changers so that you can fill your store once a week. Now, you will have to probably, uh, uh, collect the 80-pounders and maybe the 60s because the coin boxes are full, uh, on a Thursday.

Andrew Cunningham [00:45:10]:
But the rest of the laundromat you won’t have to collect until the weekend if you’re, if you’re still doing— but you got to have enough money in your changer. If not, you’re shooting yourself in the foot and you’re probably losing money because your machines are always out of order and you don’t have enough quarters.

Jordan Berry [00:45:25]:
So can I— I can sense— yeah, I’ve got a— I’m, I’m, I’m glad you said that actually, because I got a video that I’m putting together right now where I’m talking about, hey, laundromats then versus laundromats where we’re going. Future versus past. And I’ll just say, I mean, you said it kind of nicely and gave some alternatives. Listen, my, my belief is only getting stronger that the, the coin versus card debate is dead. Oh, if you don’t have a cashless payment system, a card payment system or something like that, at least as a hybrid minimum, you’re, you’re getting left behind. Like you are, you are, nobody uses coins. Anywhere else in the world. The bus doesn’t use coins or tokens anymore.

Jordan Berry [00:46:09]:
There’s nobody else who uses them. And the fear of using these things is keeping you— it’s making you lose money. It’s making you waste more of your time and it’s keeping you from growing. I mean, I’m just like, I am, every time this gets brought up, I am like, I feel like I want to throw up.

Andrew Cunningham [00:46:27]:
I’m like, shoot yourself in the foot, man. Mama doesn’t like cards. Yeah, yeah. But the little— the 9-year-old can say, let me show you how to use Google Pay, Mom. And he knows already— he or she already knows how to use it. The other thing is, why would you subtract a woman who, who’s watching 2 kids, who’s doing, I don’t know, a fair amount of laundry, and you’re going to force her to put 9 quarters in a machine or 29 quarters in a machine?

Jordan Berry [00:46:55]:
I was like, where are you going for 9 quarters right now, man? No, that’s true.

Andrew Cunningham [00:47:00]:
Dryer, maybe.

Jordan Berry [00:47:01]:
Right.

Andrew Cunningham [00:47:01]:
Maybe first, maybe for a cookie. Yeah, yeah, you’re gonna— you’re gonna pump in 25 or 30 quarters. It’s

Jordan Berry [00:47:09]:
like, why?

Andrew Cunningham [00:47:10]:
Yeah, it’s— yeah, I, I just— marketing capabilities with a card, uh, if you used a card and it’s a loyalty system, you’re, you’re giving out $23 for a $20 bill. I mean, you know, there’s more one ways to market it. Marketing, and I keep saying guerrilla marketing is still one of the best there is. Um, I mean, I— there’s a ton of things you can do to improve your marketing that you don’t have to go to X, or you don’t have to go to the big social media and pay a whole lot of money. You go to the local guy at the local apartment building and say, here, here’s $20, tell all your customers to come to my laundromat, and if they give me this card, I’ll give them a free dry. And all of a sudden you’re gaining customers left and right because you paid one guy off and he’s going to make sure that the people he sees go, go to that laundromat. There’s more than one ways to market this. Guerrilla marketing works well in this industry.

Andrew Cunningham [00:47:59]:
It still does.

Jordan Berry [00:48:03]:
So, yeah, I love it, dude. I love it. Uh, okay. Last question that I have for you. I know you gotta run here pretty quick, but I got one more question for you. I asked you, what do owners need to be focusing on right now? Let me flip it on you a little bit and say, hey, somebody who’s brand new trying to get in the industry right now, it’s a, it’s trickier to get in this industry right now than ever before. What is somebody who’s trying to get into this industry, get their first laundromat, get their foot in the door? What do they need to know right now and going forward getting into

Andrew Cunningham [00:48:36]:
this business? I think the biggest issue is they’re gonna be looking at laundromats that are not gonna be giving them that 5x, and they’re gonna have to embrace the fact that how do I get around that? Or how can I improve the, the, the 5.5x and not be stuck on it? Because I promise you, here’s what, here’s what my experience is about. My experience has been this. First of all, don’t be afraid to pay a little bit more for the laundromat because I call that op— that, that’s the opportunity expense that I tell everybody. That’s opportunity. So real quick, lease, financials, equipment, location, growth potential, and opportunity costs. This is an opportunity cost. So you’re going to come to me in 6 months and say, Andy, I still haven’t found anything. And you, you know, I should have bought that laundromat that you and I talked about 6 months ago.

Andrew Cunningham [00:49:28]:
I can’t tell you how many people have said that to me. Yeah, I just shake my head and say, yeah, I understand. Not like, hey, knucklehead, you should have, but you didn’t. You didn’t see the value in it. Now, today, 6 months later, it’s a great value. So also, too, one more thing. If you find something you really like, tie it up. Don’t wait for this or don’t wait for that.

Andrew Cunningham [00:49:54]:
Make it subject to a lease that’s acceptable. Make it subject to verification of the equipment. Or verification of the utilities or verification of the revenue. Make it subject to bank financing. Even if you’re going to pay all cash, tie it up. Don’t let the seller or the broker get into— I’m going to collect 50 offers before I study anything. Be the first one in the door and have them present that offer for you. At least you’re going to get the first foot in the door and make it subject to.

Andrew Cunningham [00:50:23]:
And that way you don’t waste anybody’s time and you’re going to get what you want. It’s going to be on your terms, not on

Jordan Berry [00:50:31]:
their terms.

Andrew Cunningham [00:50:32]:
Yeah.

Jordan Berry [00:50:32]:
And here’s, here’s what’s, here’s what’s difficult about that. And I want to, I’m going to say this, even though, uh, this might be self-serving for both you and I. Yeah. Uh, but I’m going to say anyways, because here’s, here’s, uh, here’s the reality is if you’re buying your first business or your first laundromat or your first laundromat and your first business, uh, it’s, it’s scary and it’s difficult. Yeah. But like, like you’re saying, good deals don’t sit around. They don’t last. And you have to act quickly and get them tied up.

Jordan Berry [00:51:02]:
Up, uh, under contract, but it’s scary and it’s hard and you want to analyze, you don’t know if it’s the right thing. Here’s what I suggest that you do. If you’re in that boat where you’re looking to buy a laundromat, buy and borrow somebody else’s experience and knowledge, bro, and their confidence that you’re going to make the right decision, right? If you don’t know if the decision is right, hire Andrew, hire us, hire somebody who knows the business, who you trust and who you get along with to help you— man— act quickly and know when to pull the trigger on a good deal and when to pass or to slow down. Buy that 10,000 hours worth of experience, buy that expertise, buy that confidence to make the move, even if you don’t have it yourself.

Andrew Cunningham [00:51:48]:
Right.

Jordan Berry [00:51:49]:
I know both of us offer that service and I know that can sound very self-serving, But even still, do it anyways. I highly, highly, highly encourage you to do that because it’s so easy to go wrong buying one of these businesses. And I’ve done it before. If you buy it wrong the first time, it’s really difficult to dig your way out. And I’ve done— probably both of us have done tons of consultations where somebody calls us after the fact and we’re like, okay, listen, you either gotta ditch it and lose some money, or you’re gonna have to dig deep. To dig your way out of it. It’s going to take time, effort, money, blood, sweat, tears, all the above to

Andrew Cunningham [00:52:25]:
get out of it. It’s true.

Jordan Berry [00:52:26]:
So somebody in there, save yourself and, and have somebody. All right. I don’t want to like— that’s like my soapbox there, but yeah.

Andrew Cunningham [00:52:35]:
All right. Um, I’ve got a, I’ve got a skedaddle. It’s been up there. It is.

Jordan Berry [00:52:38]:
It’s been an hour. So there it is. The wife is, the wife is calling, but man, I appreciate you coming on. We always have a blast just chatting laundromat. So, uh,— let’s, you know, we probably should just make this regular once a quarter or something like that.

Andrew Cunningham [00:52:54]:
And we probably should make it sooner than that because I think that more things are going to happen quickly.

Jordan Berry [00:52:58]:
I, I agree. It’s changing quick now. Uh, not just laundromat quick, laundromat industry quick, but actually quick right now. So absolutely. Yeah. So awesome, man. Appreciate it. Enjoy your, uh, date night tonight.

Andrew Cunningham [00:53:12]:
And, uh, hold on, hold on. That’s, uh, laundromatsunfiltered.com. You can get a hold of me.

Jordan Berry [00:53:20]:
Jordan, Lonaram Resources.

Andrew Cunningham [00:53:21]:
Appreciate it.

Jordan Berry [00:53:21]:
I appreciate it, man. And, uh, we’ll, we’ll do it again. Let’s do a live one here, uh, pretty soon. Okay, I’d love— let’s get some on the calendar.

Andrew Cunningham [00:53:29]:
I’d love the input. I’d love to talk to people online. We should— I’ll tell you what, you have my word, it’s January, February, absolutely

Jordan Berry [00:53:37]:
we’ll do a live. Love it. You heard it here first. All right, all right, man, looking forward to it.

Andrew Cunningham [00:53:43]:
Take care. Thanks.

Jordan Berry [00:53:44]:
You too. Bye.

Andrew Cunningham [00:53:45]:
Bye.

Jordan Berry [00:53:45]:
I hope you love that episode with Andrew Cunningham. The guy is just a wealth of knowledge. The guy knows the business and, uh, listen, there are big things coming. Um, I know Andrew and I’ve been having a lot of conversations about this industry and Andrew and others and I and others. There’s a lot of stuff happening right now. So keep your finger on the pulse, stay right here at LoanerMyResource, uh, podcast and here on the YouTube channel as well. And, um, listen, Listen, all of this will have been very educational, very informative, maybe a little bit entertaining, but completely useless unless you put something into action. So take some action this week.

Jordan Berry [00:54:26]:
That’s what’s going to help you get your goals. And we will see you here in the next episode of the Law of Attraction Resource Podcast.

Andrew Cunningham [00:54:33]:
Peace.