Kent Wales is a 15+ year veteran in the laundromat business. He started out owning a self-serve coin laundromat and grew his business and expended into the service sector, offering drop-off and pickup and delivery service.
As a veteran who has taken a business he bought with very little money and grown it into a huge business, he joins us on the show today and offers us a Laundromat MBA. Kent hits all 3 of the main focuses of Laundromat Resource: Buy, Optimize, Scale.
He shares how he bought his first laundromat and gives advice to anyone looking to buy their first laundromat or anyone looking to expand into laundry pickup and delivery (PUD).
He talks about optimizing his business and offers great advice to any owner on how to do that.
He then spends a lot of time talking about how to scale your business. He shares very practical and actionable advice, including knowing if a problem is worth pursuing or not, transitioning from being a DIY laundromat owner to scaling up help, and a big mistake he made (twice!) when scaling his business!
In this show, Kent and I discuss:
- How he got into the laundry business
- Vending machine routes
- How to buy your first laundromat with little money
- A lesson learned while arguing with his landlord
- How to know if a problem is important enough to pursue
- How to transition from a self-employed laundromat owner to being a business operator
- The biggest mistake he made (twice) when scaling his pickup and delivery business
- How to build a great team
- How to pay your team well
- Strategy to increase prices
- How to grow your team
- “None of this is new”
- Plus, Kent shares a BUNCH of resources to help you succeed!
And way, way more! Get out your notepad and get ready for your Laundromat MBA!
Watch The Podcast Here
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