80. You Asked, We Answered with Dave “Laundromat Millionaire” Menz

Taken from a Live Q&A that Dave and I do monthly, this episode is packed full of practical advice and tips for newbies and seasoned investors alike!

We answer a TON of questions, including:

How to not get ripped off when buying a laundromat
What to know when opening your first laundromat
Can you downsize your water heater when you have o-zone
How much capital you need to start
Should you buy an existing store or partner with a franchise
Best practices to use with dry cleaning
Dealing with equipment delays
Is self serve dying and wash and fold and pick-up & delivery the wave of the future
Card, coin, or app payment systems
Marketing techniques with proven success
Email marketing ideas
Monthly laundry subscriptions
Price per bag or per pound for pick-up & delivery
When should you find a laundromat mentor
How often should you replace machines
What are the margins on pick-up & delivery
Good laundry lenders
Average pounds per order for pick-up & delivery
Are distributors price gouging
Can you own a laundromat remotely

And much more!

Watch The Podcast Here

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Episode Transcript

Read the Transcript Here

good to see you everyone i know

we’re live

katherine oh

tammy

and john are on catherine’s youtube

that’s confusing

uh welcome guys hey super excited live q

and a and i cannot wait

to do it

how are you doing man i couldn’t be any

better if i was i’d be twins man i’m

killing it i’m exhausted i’m not gonna

lie i’m guessing you are too because

we’re pushing we’re pushing that’s how

we grow people that’s how we grow

jordan’s got his own

i got my liquid energy i’ve got my

propel which doesn’t give me any energy

but it’s uh it’s much needed it’s much

needed

so please what’s up

we appreciate you guys being here

tonight this is gonna be awesome

we are pumped and i want uh no um

what’s the word i’m looking for i’m

missing the word

no pressure

no pressure guys but last month was our

best one yet oh and i’m not saying that

because it was on my channel i’m saying

it because you guys which i’m guessing

almost all of you were there

you guys killed it last month it was

phenomenal i think we had maybe close to

200 people i didn’t count but uh it was

a lot

we got an outlaw with us i’m not sure

what to make of that but that’s okay

welcome out loud

and kevin’s here all right kevin and

matt what’s up matt

kevin says it’s just finally made one

i’m taking i’m taking it that means he’s

the first this is his first one i’m

guessing

so welcome kevin i see uh see your name

all the time on facebook and stuff so

glad you guys are here feel free to

start austin texas very nice very nice

welcome

coast to coast over here hey get these

questions in if you have some questions

let’s get them in while we’re welcoming

people and catching up we haven’t really

chatted we had some technical

difficulties we made it

just right

like we always do that’s how we roll

that just in time learning is

beautiful no pressure you have one

minute until you go live no problem

dave’s not showing up

uh man well hey listen i am excited

about talking laundromats real quick

quick update

oh no matt wants us to guess what what

is laundromat’s gonna be named all right

everybody jump in the comment section

matt wants everybody to guess what he’s

gonna name his laundry mat matt you

gotta give us some kind of a clue dude

you can’t just give us how about i’ve

got it how about

whatever street coin laundry

uh i like to drink it it’s soapy senior

reader because that’s the one i wanted

to go with and somebody can retake it

yeah that would have probably worked

pretty well in your market wouldn’t it

yeah yeah i don’t think so

or it would be offensive i’m not sure it

could go either way maybe

yeah

is that a man everything’s offensive i

can’t do this i can’t do this offensive

stuff

yeah everything’s offensive everything

is offensive

uh hey i have real quick before we jump

into question speaking of which hey guys

i mean this will be a lot more fun if we

don’t have to just listen to dave drone

on and on for like an hour now if you

make the best way to do that is to give

me ammo to interrupt them with in the

form of questions that’s right i’m just

kidding hey get those questions in i’m

going to be writing them down as we go

along and we’ll be tackling them

as we go but real quick while questions

are rolling in and people are

laundering that

nice

that’s what man i love that yes that’s

good very good uh

that is dude today is uh an exciting day

over here uh what’s up finally after

like a year

uh i have got some equipment that i’ve

ordered that has come in so very very

excited did you order it three years ago

as i have a lot of consulting clients

that are like should i be tool right

away or should i do it in like six

months and i’m like well i guess you

should do it now so you can retool in

six months if you’re lucky

if you’re lucky everybody i talk to is

like yeah they say uh they say six

months and then that’s gonna turn into a

year and

uh i wait i don’t know maybe it was last

month on the youtube uh somebody had

told me that i think it was on there

maybe it’s on facebook

somebody had said something about uh

they were stopped they won’t even take

an order for the touch stuff now like

they just yeah you can’t put in an order

you can order other stuff because they

don’t know when it’s to be available

yeah i don’t remember where it is

yeah yeah

that’s what i heard matt’s matt is one

of the votes

yeah

matt’s matt that’s pretty that’s pretty

clever that is pretty good

uh i’m missing i’m missing stuff over

here uh okay let me

let me run back up all right guys well

hey this is a q a we are here just to

let you know who we are i’m jordan with

laundromat resource

jordan mary

jordan barry

what’s up guys i’m pumped you’re here uh

it’s funny i’ll answer the phone that

way sometimes people will be like wow

that’s crazy

up guys

uh and the laundromat millionaire dave

mends uh

the one and only person the only one and

only person bold enough to call himself

the loaner my millionaire

not that not that i get away with it but

anyway

yeah hey we are we are pumped

we are pumped you guys are here and we

are getting the questions rolling in

george lisa welcome

i tell you what we’re already getting

pretty good uh participation this is uh

this is good stuff good stuff yeah

and hey just i mean we’re gonna start

tackling questions right now but while

you’re uh while you’re bringing

questions in while you’re listening to

dave ramble on and on

instead of nodding off and ignoring him

uh don’t do that make sure your gym

make sure you’re jumping in the chats uh

you know having conversations with each

other too i mean half

probably let’s be honest more than half

of the benefit of these things is that

you guys can help answer each other’s

questions and also just kind of get

networking getting to know each other so

make sure you’re doing that in

the comment section over there and uh

and and also you know dave and maybe a

little bit of me will be you know

offering some stuff along the way so

since it’s jordan’s channel i’ll give

him 10 minutes this month

10 minutes that’s

more than last month

10 times when i get more on your channel

uh all right so

well let’s start yeah let’s start with

this one let’s come in a couple times

let’s just start with this one how do

you make sure you don’t get ripped off

when you buy a laundromat i mean listen

that is

a big question

because number one uh you know i shared

my story and i feel like i kind of got

ripped off and you know i take

responsibility for that but a big part

of why i do what i do i know part of

what why you do what you do

is because you know we’ve learned some

very valuable and very expensive lessons

along the way we want to make sure other

people don’t have to learn them the way

that we learn them and uh

man i mean getting ripped off is is

scary and a lot of people are putting a

lot of their

hard-earned money into these things

they’re not cheap even the cheap ones

quote unquote are not cheap

and uh man i don’t know you got any tips

on how to not get ripped off as i catch

up with the questions here well to be

honest with you the fact that you’re

asking that question is uh i’m

optimistic for you because that

insinuates that you are aware you could

get ripped off because i think a lot of

people enter this industry

and it’s it’s i’m not picking on them i

mean it but they enter this industry

very haphazardly uh because i always say

you know 75 percent of the information

out there

on laundromats you know the free

information especially is pretty much

complete garbage and so the good news is

that means 25 percent of the information

out there is pretty solid

so what i tell people is if you stick to

these three platforms meaning the

laundromat millionaire laundromat

resource and the cla uh you’re gonna get

pretty solid information does that mean

everything any guest on my podcast uh

says is you know is golden inaccurate

well no of course not um our podcast

guests have their own opinions uh but we

like to believe you know me and jordan

and the cla we try to do a pretty good

job of putting out solid information

that’s credible and reputable um and so

that’s a that’s a good place to start um

you know there’s there’s a million

things i could go into i always point

out the book that the cla sells

which is uh they changed the name of it

today’s law i think it’s just today’s

laundromat um it’s on the cla store it’s

a it’s a great resource that i bought 12

years ago now and it’s phenomenal

jordan has all kinds of templates on his

website um he has a forum on there where

you can connect with people laundromat

resource.com

um you know jordan’s pushing pushing a

hundred episodes on the podcast there

you know i think he’s over 70 if i

remember right um

yeah i tell people when it comes to free

content start with number one and just

start rolling he’s on he only says that

because he’s number two though well i’m

not gonna tell him to start at 70 it’ll

take forever to get to my episode

after you listen to number one there’s

some guy rambling on number one once you

get through number one on the laundromat

resource podcast number two is my

favorite episode i recommend listening

to it a few times

but that’s a good starting point but the

reality is um you know you can never

stop learning we can never stop learning

because the industry is always changing

so i think that’s a really good starting

point uh the last thing i’ll say too is

just take your time and i know this is

kind of like a common sense quite answer

take your time

um you know

it’s it’s kind of becoming sort of a

coin phrase in the industry nowadays but

spend a few thousand dollars on your

education before you spend a few hundred

thousand dollars um i’ve had clients

come to me and i know jordan has too

i’ve had coaching clients come to me

that have you know basically just lost

four hundred thousand dollars um you

know i had somebody a while back that

contacted me about coaching they had

bought a 650 000 laundromat

but it was probably worth proper

valuation two hundred thousand two

hundred fifty thousand

and if he had called me six weeks

earlier he had closed five weeks before

that if he had closed six weeks or

called me six weeks earlier you know he

would have saved four thousand dollars

so i’m not here to you know promote my

coaching services or anything like that

which are actually that’s a different

conversation but actually they’re i’m

packed i’m packed right now so i’m not

taking any new clients so you’re gonna

have to call jordan uh but those are

some good places to start find a good

mentor if you can find a rockstar

distributor

find them work with them utilize their

resources their energy there’s a lot of

good information out there but you do

have to separate the wheat from the

chaff

on the internet because free you know a

lot of times that’s not good information

what do you think jordan

yeah i mean

hey number one not to just promote my

own stuff but

tomorrow

we have i’m doing a free live webinar on

how to analyze a laundromat deal and we

go it’s like there you go

drinking through a fire hose it’s a it’s

it’s it’s a lot of good information i

don’t say that because it’s i’m given

the information i’m trying to to my own

horn i’m saying that because i’ve been

doing free coaching calls and free live

webinars for a couple of years now and

i’ve been taking notes on questions

people have and i’m answering those

questions in that webinar so

uh man that’s a great place to start uh

and you know i i think being involved in

in a community of other owners other

people who have experience

and this is another huge uh thing that i

was missing when i bought my first

laundromat it ended up costing me tens

of thousands of dollars

uh but can be a huge resource for you

and there’s a lot of great places to do

that now like uh the landmark resource

forums like laundromat millionaire

facebook group there’s some other

facebook groups out there that are

pretty good and uh you know start

getting to know people and

you know when you have questions that

pop up you need some timely answers

again you have to

you know use a little discernment uh you

know when taking advice from strangers

on the internet but

uh you can use that discernment and you

know verify that with other people and

what you’re learning and

uh man that’s a good

place to start in terms of you know not

getting ripped off and i would say too

hey

you know

go go with a consultant if you can do it

a consultant is somebody who’s third

party and somebody who can give you an

unbiased

opinion i just talked to one of my

clients out of buying a deal because we

found out

that a brand new

mega nice laundromat was opening up

three quarters of a mile away less than

three quarters of a mile away

in san jose

and

they ended up walking from that deal but

the broker didn’t even mention that

because the broker only gets paid

you know when the deal goes through

how did they find that how’d they find

that out

uh just

word of mouth

driving oh you’re on the streets oh

you’re just driving up and down you look

and you’re like oh they’re building my

watermelon yeah they had a client

i i always say hey go check the county

that’s what it’s gonna be

for a new laundromat build

um and

just make a grid on a map and drive up

and down every single street and go

check any construction that’s going on

any vacant

uh commercial

spaces and you know just do a visual

check because i mean they were gonna buy

an 850 000

laundromat that was immediately going to

be worth

probably less than 400 000 you know as

soon as that other one opened so dr big

bullet there

but having a consultant even if you have

to pay them a little bit can save you a

lot of money so

the likelihood if you pay let’s say

hypothetically you pay a consultant ten

thousand dollars over the course of 12

months

you’re going to get that money back in

those 12 months if you if you buy a

laundromat

i i mean it

i tell people all the time i mean in the

laundromat industry it’s so capital

intensive i mean we can roll out a bed

and burn 50 000

without even trying even if you kind of

know what you’re doing i know people

that know what they’re doing a little

bit and have been in the industry a year

or two and they still

you know buy that 300 000 loaner mat for

400 thousand dollars um thinking that

they know what they’re doing because

they’ve been in the business for a year

or two well you maybe bought the right

with the first one right just by mistake

so like i said it goes back to spend a

few thousand dollars on your education

or in this case a mentor or a coach uh

before before you spend a few hundred

thousand dollars or more

um you know i’m a big fan of diligence

so i’m a big fan of being proactive

rather than a reactive that makes sense

yeah and i mean i think that’s a huge

point and it’s it’s hard

it’s hard sometimes to

see the value in that like i have

another

client of mine who

you know we found out during due

diligence that there was a 700 a month

sewer bill that

the owner wasn’t trying to hide but

didn’t even know about the sewer bill

went to the landlord and the landlord

never passed it on and we found out

about it

and

our offer went down from 235 000 to 170

000 because of that and it’s you know a

tough break for the owners but put

yourself in the buyer’s shoes if they

had bought that laundromat without doing

the due diligence and finding out about

the sewer bill

then i mean that’s a lot of like you

said you can lose 50 grand like nothing

you know and that would have been 50

grand down for them

in that scenario so

you know

i you know i know it’s easy it’s easy

for me to say because i remember a time

when 10 grand was a ton of money to me

and don’t get me wrong it still is

but it’s easy for me to say spend 10

grand but i tell you what wouldn’t you

rather spend 10 grand and just have the

peace of mind

that

that you’re getting in the business the

right way once again this is a

hypothetical number it’s a random number

but would you rather spend ten thousand

dollars and be like you know what i’m

working with a professional let’s assume

you hire a good coach because there’s

bad ones out there um or consultant but

uh wouldn’t you really spend 10 grand

and be like you know what i’m going to

closing a 100 as close to 100 as we can

be confident that i’m buying the right

location i’ve done my homework i mean

this business isn’t rocket science um so

if you find somebody that knows what

they’re doing i mean the industry

doesn’t change quickly it does change

but it doesn’t change quickly and so if

you find somebody that knows a little

something about the business then that

that’s going to be even if even if you

would have done it either way i’d still

rather spend the ten thousand dollars

and have that peace of mind but that’s

just me and there was a time when i

didn’t have that 10 grand so i i

understand that too and i’m not trying

to make light of that because a lot of

people are in that situation and even

going back to that if i had that to do

over again because i had a great mentor

if you don’t have the 10 grand you’re

probably in less of a situation to take

that risk to be honest with you than

somebody that 10 grand really isn’t that

much money to so i don’t know if that

answers your question there’s really not

an answer to your question there’s a

whole bunch of answers proceed with

caution find a good mentor get in some

good networking groups and if you can

get yourself a coach

yeah awesome

awesome awesome uh

answer to that question i mean i think

there’s a lot of really good stuff in

there for anybody who’s looking to buy

that first one did we

i’m still trying to catch up here did we

ever find out what matt’s laundromat is

it going to be laundromat i don’t know

hey jason jason dodge joined us welcome

bud hey jason all right

matt if you did tell the name and if it

was matt’s matt then

i like it he says i like matt’s matt too

so maybe he’s not so sold on his own

kevin cook says zero experience here

reading and listening good for you

that is a great place to start just

consume consume

if you have a good head on your

shoulders which i’m sure you do if

you’re here um you know consume enough

information you’re going to hear all the

commonalities in the industry if you

just talk to five people i mean you’re

gonna get five probably different

opinions because not everybody knows

this business as well as they think they

do um

and and and i’ll just leave it at that

but consume consume consume and

eventually you’re going to see a lot of

uh commonalities in the information

you’re consuming and that’s when your

education starts to rise and that’s when

the red flags are going to start to kind

of jump out at you like this doesn’t

make sense

so i don’t know if that helps matt if

you do have a name let us know what it

is my friend everybody’s dying

you’re the talk of the show

that’s right uh

all right so ooh nice a lot of uh

all right andrew cunningham all right

hey andrew cunningham and i are doing a

webinar in

uh i don’t know a few weeks you can

check it out at london resource.com

events which will be really good so okay

so uh

we got how not to get ripped off hey

first of all there’s a quite a few

people in here who are opening their

first mat i saw that kevin

is has a new build out uh that is

opening this week that’s huge

congratulations to kevin uh that’s a

really big deal those build-outs can

take a long time and it’s

very financially and emotionally

draining to go through a build out so

huge celebration but let me just

encourage you kevin

that

the work is not over when you open the

doors that’s when the work just starts

so don’t let off the pedal right off the

bat you gotta get those people in there

and you gotta get them to develop the

habit of coming to your laundromat

that’s what it’s all about right so

building out a laundromat awesome first

step it feels like a huge first step

because you it’s like a monumental

effort to get there but don’t let off

the pedal i just wanted to

give you a little you know pump talk on

that because uh man

i know it can be emotionally and

financially draining to get to that

point but keep going man keep going

opening opening the doors on a retool a

remodel

a new build that’s not the finish line

folks that’s a starting line

and that’s not really information that

it’s not something everyone wants to

hear

it’s not it’s not a fun to hear it

necessarily because you’re pretty

exhausted a lot of times by the time you

get to that point but

you got to push forward that’s when the

fun begins and my mentor told me that

early on i left the closing to buy my

first store which wasn’t a build but it

was run down

i left the closing and i i called him i

said it’s official i own the store i’ll

meet you there we had already made

arrangements for him to meet me there

the day of and he said i’ll see you in a

little bit he walked in the door shook

my hand said congratulations and said

be under no illusion that you’ve done

anything

now it’s time to work

and i had worked i had worked i worked

hard to get that thing across the fetish

line and it was a little bit

demoralizing but it was also kind of a

pub talk that that i needed uh because i

was i was exhausted so that’s a that’s a

great point for sure

yeah a lot a lot of talk about andrew

cunningham in here and and i’m just

going to throw it out there i’ve i’ve

never met andrew personally but i know

he’s been on a couple of your podcasts

at least two

um that i know of for sure so guys you

know a lot of talk about andrew i know

jordan has great things to say about him

um i’ve watched the podcast clearly

knows the industry been in the industry

a long time so

if you’re

i mean if you’re just wanting to learn

more about the industry go check out

those podcasts he gives a lot of good

information in those podcasts and then

if if he is someone that you’re you know

you want to contact about consulting i

guess i guess he does that kind of stuff

um so a little bit a little bit of buzz

for andrew there yeah his his uh contact

information is on the show notes page of

those uh laundromats or does he have a

website like a consulting website or he

does i want to say it’s

laundromats

dot com

i’ll put that in the chat actually that

way you guys can okay

but i’m not positive i’m pretty sure

that’s it

yeah while you’re doing that i’m going

to jump at one that somebody addressed

to me um i’m not finding it but i know

it’s here somewhere they uh

oh there it is mike posted it

he said

he said dave now that you have had ozone

in your store for a while and your

customers are on board if you had to

update your water heater would you

downsize it

you know

mike i you know i’m probably the best

person to ask about that because i’m a

big fan of the macro rather than the

micro not that the micro isn’t important

but i don’t get too worked up over

you know whether i heat a few extra

gallons of water every day or something

like that i tend to spend we i believe

we all have kind of limited mental

capacity

and so i said i tend to spend my time on

the bigger things that being said if i

were replacing the water heater anyways

would i do the calculations to see if i

can get away with something smaller i

would

um but that being said just from

personal observation having ozone in

your store

is is definitely a great thing to have

from a marketing standpoint

it definitely does a great job of

cleaning the clothes and things like

that but

it’s i mean you’re really fighting an

uphill battle if the reason the singular

reason you’re putting ozone in is to

reduce your water heater

or your water heater usage

is it going to happen naturally a little

bit yeah but you could sit there and

spend a half an hour talking to every

customer about ozone and explaining how

great it is and why they don’t need to

use hot water they need to go use cold

water

and you’re still not going to convince a

good portion of your clientele so i’m

not sure that i would do that

i mean if i had a two or three year

track record and put in ozone two or

three years ago and happen to need to

replace my water heater now would i look

at that consumption rate and say is

there a drastic difference can i get

away with something smaller yeah but i

wouldn’t spend a whole lot of time on it

um that’s just my my my personal

philosophy on business

uh but it is i mean i don’t mean to make

light of it because it is true that

having ozone um actually cleans your

clothes better in cold water than in hot

water the problem is you’re not going to

convince your customers of that

so it’s kind of an uphill battle so take

it for what it’s worth it is one of the

benefits of having ozone but i don’t

know that it’s something that really get

worth getting too worked up over

at least my opinion now that in other

markets that are a little bit more

sensitive to gas usage and environmental

things

maybe it’s maybe it’s a bigger issue

there would you have any comments on

that like in your market jordan or

uh no i mean i think you’re right i

don’t know that you’re gonna save enough

to go downsize

you know the cost of just downsizing in

general

yeah i mean

they’re just numbers though so you you

should be able to figure that out and

you know you know figure out how

much of the hot water it’s going to save

you and

you know make do the math you know but

you know if i was just gonna go with

kind of gut

feeling i mean i think even even being a

little more environmental

if that’s your main

stick for your laundromat then maybe yes

but uh

yeah i don’t i don’t think it’s enough

yeah

to go about doing the downsizing there

um okay so

uh somebody was asking too about you

when are you doing your next update for

your build

i’m curious about that too if that’s not

charles measly then i’m gonna be

surprised but it doesn’t say his name

he’s been he’s been he’s a friend of

mine he’s been sending me text messages

yeah i’m going to actually do something

uh probably this week i don’t know if

it’ll be out this week the video um and

and i’ll just go and throw it out there

the reason why we haven’t is because

while we’ve been making a lot of

progress it’s not a lot of visual

progress

and if you built a laundromat you know

what i’m talking about um the last four

to six weeks has been a lot of

engineering documents and uh applying

for permits and they’re dragging their

toes a little bit on that and some

architecture work and a lot of this was

done beforehand but we didn’t do a

hundred percent of it because the couple

weeks before we closed on this property

there was a chance that it was going to

fall through

um and so we kind of just pushed pause i

was like well maybe i just won’t do

anything until it actually closes

um and it closed put us a few weeks

behind which is not the end of the world

uh that being said we actually had the

parking lot which is this is just for

those of you that don’t know i’m

building a new laundromat uh but the

building is existing it’s a former

laundromat we gutted it down to the

studs and we’re basically building a

brand new laundry mat

but the parking lot was in terrible

shape we’ve painted the building

we actually had the parking lot resealed

and striped today

we’ve got about probably 60 percent of

our equipment has been delivered it’s

not been installed but it’s been

delivered our bulkheads from highmark

have been have been delivered our drain

troughs from hm company

drain troughs.com um

have been delivered so we’re making a

lot of progress but when you like walk

in the building and look at it there’s

not a ton to look at so i kind of felt

like it would be sort of a lame video if

i did one

you strike the parking lot right like

what’s more exciting right well there’s

a funny thing the funny thing is i drove

by today and i was like holy cause it

looked bad before but yeah it’s an

asphalt parking lot and they hadn’t done

any maintenance no sealing no striping

no not even cleaning out the weeds from

the crocs nothing in probably 25 years

and so it was rough and i mean it looks

as far as a parking lot can look it

looks amazing

[Laughter]

so anyway so yes i will be doing a video

shortly and there will be quite a bit of

stuff to cover but when you look in the

inside of the building it doesn’t look

drastically different than it did five

or six weeks ago

so but thanks for following along

because the good news is

now that we’re kind of seeing the finish

line and getting the zoning people out

of our way and stuff

all my contractors and me i mean we’re

chomping at the bit so i’m gonna have

some yeah i’m gonna have some really

cool videos on a probably weekly basis

where we’re just really hammering it so

we’re hoping to be open uh sometime in

mid-november

so we’ll see if uh

we’ll see if that happens six weeks or

so yeah that’s right so we’ll see but

thanks for asking and i appreciate you

following along

um for sure

yeah i know how that goes you know doing

house remodel and stuff my wife was kind

of following along on instagram posting

stuff and then it was just like nothing

was being posted we were like what

happened and

she’s like well they’re like wiring

stuff and

running plumbing and

you can’t really even tell anything

that’s different just like the

construction’s in it

uh yeah okay so somebody asked uh how

much capital does it take to start how

much should you have

in order to start

in the laundromat it doesn’t take

doesn’t take any capital it’s free guys

free it’s free you don’t need any money

it’s totally free cool all right well

the next question next question

[Laughter]

now the answer the answer is it depends

i’m sorry it depends i’m sorry to say

that but you can get into the industry

uh jordan has a couple great videos i

don’t think they’re podcasts i think

they’re just videos of him but they’re

on his podcast or maybe they’re just on

his youtube channel he’s a couple good

videos on kind of getting into the

industry

on the lower end of things as far as

capital so i mean i’m an example of

someone that got into the industry i had

thirty thousand dollars in cash and it

had taken me five years to save that up

to to get into the business and i bought

a really dumpy laundromat for like 85

grand and borrowed 70 of it uh put 15

down and then put the other 15 and

improvements to the store and

leverage myself to the hilt so that’s

that’s my story so the answer is you can

get into the industry pretty

inexpensively but you’re really buying a

project you’re buying something that’s

going to have to have

um you know it’s going to have a lot of

deferred maintenance it could possibly

be losing money which mine was when i

bought it my first one um

and so you can get into the lower and

lower in the industry just put be

prepared to either borrow a lot of money

spend a lot of your own money or put a

lot of a lot of sweat equity in and

likely all three um of those things

because this is a capital intensive

business and then on the higher side of

the business i mean there’s two three

million dollar laundromats out there um

so if you figure

30 to 40 percent down

in the total project if you’re a newbie

which is pretty common uh especially 30

then do the math you know on a million

bucks you’re looking at three to four

hundred thousand dollars on two million

you’re looking to double that so that’s

on the higher end and that’s when you’re

kind of building sort of the taj mahal

of laundromats um but it’s it it it

feels a little bit like a cop out to say

that but the range is really that wide

it’s really just a matter of your market

finding the right opportunities

doing your homework things like that

what are your thoughts on that

yeah i mean like you said it’s the

biggest it depends in the world and it

really depends on how you get into the

business and you know

to a degree i think you’re right there’s

all all of those things you’re going to

be spending a lot of money and a lot of

sweat equity and all that stuff

depending on how you get in but i found

that there’s kind of this inverse

relationship with how much money you

have

versus how much time and sweat equity

you need to put in

right so if you have definitely if

you’re if you’re uh you know plastic

surgeon in beverly hills and you have a

bunch of money you’re just trying to put

it in to a business you know to get some

cash flow on it and you don’t really

even need it to make you a ton of money

you know well you can buy that million

dollar laundromat and it’s gonna be

probably relatively turnkey and it’s

probably going to have relatively new

equipment so it’s going to be relatively

low maintenance there will still be

things you need to put in so there still

is some kind of time commitment there

but relatively little but if you’re on

the other end of the spectrum and you

don’t have very much money

then

you just need to anticipate you’re going

to be putting more time and more of your

own sweat equity into

that business

to get it going i think you’re a perfect

example of that

where you

relative i mean you have 30 let’s just

say it first thirty thousand dollars

still a lot of money

but you you scrounged up thirty thousand

dollars which is relatively little

amount of money

and you

you know you you talk about it all the

time you went before work you worked

your nine to five job uh nine to five

job and then you went

and sometimes longer and then you went

after work and you did that for a lot

like years like not like

four years yeah 90 to 100 hours a week

yeah for five years four years so

a little bit of money

a lot of sweat equity and and now

probably knowing what you know now there

may be some ways where you could shorten

that timeline

some of the stuff you and that’s kind of

what we’re talking about with the

you know consultant or mentor track two

collapsing timelines and reaching levels

of success that you’re trying to get to

much quicker

but if you just want to go at your own

you know just know there’s an inverse

relationship if you’re planning on

you know leaving the rat race leaving

the nine to five but you really don’t

have any money right now that’s fine you

can do that and laundromats are a

vehicle where you can do that

you just need to know you’re gonna have

to work a lot harder than other people

who have more money on the front end to

get to that point and it might take a

little bit longer that makes sense yeah

i think most of these conversations are

either and either or propositions so

like in my example i hate fixing things

like i hate i didn’t i knew i could but

i didn’t want to learn how to fix my own

equipment i wanted to be in a financial

position where i didn’t ever need to i

could always afford to pay someone to

fix my equipment so i would rather stay

at my job that i didn’t hate i didn’t

love but i didn’t hate i’d rather stay

in my job an extra year 18 months build

up some more cash increase revenue a

little bit more have a little bit

healthier business and so it was an

either or proposition could i have left

my job earlier and taken money out of

the business i could have but it would

occur it would have required me to work

in my business

which i didn’t want to do now there’s

many many people i mean i was already

doing it but i didn’t want to do any

more than i already was

i liked my job but there’s many people

that don’t have another job or maybe

they got laid off and so they need to

work in their business and so every

situation is unique and different how

you get there is really just determined

by numbers and i mean a perfect example

too is if i was a single guy who was 22

and living with six roommates and my

rent was 100 bucks a month because we

divided it six ways i wouldn’t have

needed much to live on but i was married

and i had a family of three i had a

newborn at home when i bought my first

laundromat and a toddler and a 10 year

old and so um you know we did cut our

living expenses a little bit to help out

but we weren’t willing to just sell

everything and live in a box

we had a lifestyle that we were trying

to maintain we didn’t need to grow it

but we were trying to maintain it and so

that’s part of the factors it’s part of

the it depends is how much are you

willing to sacrifice what are you

willing to do how long are you willing

to do it you said it a minute ago i

think it was with the water heater

comment it’s just math

well i mean business is just math even

your personal expenses is just math and

you can manipulate those things on both

ends of the

of the spectrum it’s just a matter of do

you want to you want to work more or

sacrifice less do you want to sacrifice

more or work less you know that there is

no right answer the answer is it depends

and that’s why we keep going back to

that

um but yeah we’re getting some awesome

comments uh hey joe dan good to see you

buddy

joining us this month he hasn’t been

with us for a while

i know it’s awesome yeah jason dodge

says and i i’m gonna take a little

liberty here i know jason recently built

a laundromat that’s a beautiful laundry

map

and uh he mentions credit cards 401k

owner financing line of credit on the

house i’m guessing i don’t know maybe

you do i think you’re a little closer

with jason than i am i’m guessing that

he’s saying he did all of those things

to get his new store open yeah

that’s not uncommon yeah if if you’re

interested in how to get into a business

when you’re in a tight situation you

need to go listen to jason’s episode on

the podcast i can’t remember up top in

my head what number it is i don’t know

jason if you remember but

uh man his episode is awesome and he i

mean he made it happen

that’s like the epitome of making it

happen

uh so yeah

really really good

uh there’s one for you here’s one for

you jordan yeah stacy uh stacey ron

fuller says are you guys finding that

the sales price on mats are inflated

right now to go along with the longer

order times and increase prices on new

equipment yeah

yes absolutely and i and i so i’m in i’m

doing so many like too many consulting

calls right now every single week

and

all over i’m looking all over the

country urban areas suburban areas rural

areas

east coast west coast best coast

middle where nobody really pays any

attention to

where nobody lives yeah

uh yeah but uh man everywhere i’m seeing

inflated prices and i and i think a big

part of the reason a couple things

number one is

you know when people looked around

during covet business clothes business

clothes business clothes laundromat open

intriguing uh so i think that’s a big

part of it i think genuinely and i’m not

just saying this but genuinely i think

you know having people like dave who’s

giving a lot of exposure to our industry

outside of our industry

is peaking a lot of interest i know he

went on the bigger pockets business

podcast which is a big deal that was a

little while ago

uh it’s now defunct and i can’t help but

wonder if there’s some

you know relationship there of

why it’s not going anymore well me and

you launched our podcasts and then they

went under that’s what happened that

might be

the timeline is right jordan i’m just

saying okay well i didn’t know if it was

that or maybe

you know i broke them yeah i broke them

they can’t my numbers just went through

the roof and they handle you yeah

but i do think that’s part of it too and

and i also think there’s just a lack of

inventory uh for

whatever reason you know i don’t know if

people are just not wanting to sell you

know a lot of people took a little bit

of a hit during coven in terms of

numbers and so not wanting to sell

with those lower numbers

and so they’re hanging on longer or i’m

not sure what the deal is but there just

has not been a lot on the market so

definitely

you said it’s all you said it’s all over

the country so you’re not just talking

about la what are you seeing are you

seeing instead of a three to five x

you’re seeing four to seven x or what

what are you i mean that people are

asking i’m not saying they’re getting it

but

yeah no i mean i’m seeing asking prices

uh you know yeah four well maybe even

like four and a half to six and a half

is what i’m seeing kind of what i’ve

seen yep and depending on who’s asking

there’s some particular

brokers or you know people who are

always at the higher end of that

which is fine um

and you know and i tell people all the

time hey i

i literally i’m gonna do this webinar

tomorrow during the analysis webinar i’m

doing tomorrow free live webinar

i will say

you can ignore the asking price just

ignore it it’s irrelevant it means

absolutely nothing and usually it’s just

a negotiation technique right so

whatever that asking price multiple is

the real question is what returns are

you willing to live with

right and if you’re willing to live with

the returns you can get at a six times

multiplier then you can pay a six times

multiplier if you need twenty percent

return on your money then you can’t go

higher than a five times multiplier

that’s just

what it is and you just have to find a

deal that’s going to fit that so

uh but yeah i’m seeing four and a half

to six and a half uh

most of the even like

you know older machines and and all that

will be

in that four and a half to do you know

if they’re getting that

usually

well it depends

and i mean kind of stole my answer

yeah always always it depends but i mean

going back to do you have somebody

helping you out who knows something

about the business and if you’re going

at it a lot i see this a lot where

people

you know just

and i’m not blaming anybody because i

did exactly this but when you just kind

of go along with what the broker says

you’re gonna pay top dollar nine times

out of ten

uh unless you happen to get a good

broker who has a

bigger

term vision of your relationship with

them that’s really what you want to look

for but

yeah i mean i’m seeing some people

paying

you know upwards of that and uh

you know hey if you can sell your long

enough for that

more power to you

you know i tell people when the

environment we’re in right now and we

don’t know if it’ll last forever but i

think kova definitely impacted it um and

i think people like me and you not just

me and you but people like me and you

bringing a visibility to the industry of

how great of a business this can be if

done the right way i think that

increases the value of our businesses

um and so i do think there’s a

correlation there i’m not giving any one

person credit i’m just saying that the

information as a whole or the industry

as a whole we’re sharing information

more and i’d like to think that you and

i are at least in fact i know we’re a

little bit of a part of that um and so

i’m not gonna not gonna shy away from

that and us trying to encourage

networking in the chats networking on

facebook groups on the laundromat

resource forum

just jordan having laundromat

resource.com website that didn’t exist a

couple years ago

him doing free webinars people’s

education level is increasing i’m not

saying everyone’s is but the awareness

to the industry is increasing um and so

those those all factor in if you’re

looking to buy a laundromat you might

have to pay a little bit more for it and

take a little bit less as a of an roi on

your investment but the good news is i

still think it’s good for the industry

for us to be collectively as an industry

be elevating our industry

i i don’t think we can lose in that

scenario

yeah uh okay there’s i mean there’s a

lot of questions coming in yeah so we

talked about that it depends we talked

about that it depends oh somebody had

asked

is it better to buy an existing

laundromat and either run it or retool

or whatever or to partner with speed

queen

and

that route

you got anything to say about that

you know i don’t want to speak

specifically to speed queen because i

don’t pretend to be a speed queen

franchise expert um but there’s like

nine or ten franchises out there

nowadays i’m guessing that’s what

they’re asking us about the franchise

my opinion of it is there’s nothing

wrong with a franchise i think franchise

models

in business across all industries are a

good thing in a lot of cases uh my

personal opinion knowing what i know now

about the industry and the people in the

industry and

uh the elevation of of knowledge and uh

let’s call it business acumen among us

laundromat owners and how it’s

increasing um i think that they’re the

value i always go to value you know me i

always go to value and the reality is

that i just don’t see it um i actually

just did a podcast the other day i think

it was number 19

and it was brian riseland and he is a

former microsoft exec if you’re not

aware i have a podcast laundry matt

millionaire show

it’s on all the podcasting platforms

it’s on c-suite tv um it’s on my youtube

channel you can check out those podcasts

and video form uh go check out i think

it’s episode 19 but just look for brian

riseland uh he’s a former microsoft exec

that got in the laundromat industry

and he did we talked for quite a while

about him researching the industry and

he was really close to going with a

franchise and then he started to figure

out the numbers and the the uh the

franchise fee and the royalties in

perpetuity and things like that and he

started to realize well geez over a

10-year period of time if i achieve my

goals in this business i’m going to pay

them a million dollars

and he said okay in those 10 years are

they going to give me a million dollars

or in this case more we would need uh in

in value and the answer was it wasn’t

even close and this is his answer not

mine so this is someone that went pretty

deep and heavy-hitted uh heavy-headed

down to the industry and he looked into

the franchising and he he said it wasn’t

for him that being said there’s nothing

wrong with a franchise he’s a he’s a

sharp guy he has a lot of business

experience

creating operational processes and

procedures he didn’t feel was quite as

valuable to him because that’s something

he has a he has a business acumen for

but if that’s something you would really

struggle with and you might get a lot

more value out of that business in a box

uh type of mentality so i’m not here to

say anything bad about any franchises

speed queen or otherwise all i tell

people is just look at the numbers just

like brian did make your own decision

for yourself i think in some cases cases

franchises make sense in my opinion in

most cases in this industry i can’t

imagine that they would make much sense

um just my two cents worth knowing

knowing what i know about the industry

what’s your what’s your opinion on that

i don’t know if we have enough time to

go into it but i mean i think you’re i

think you’re right i think your time’s

up sorry okay

so the next question

uh no i mean

the only

scenario that i can think of where i

would say

okay do the franchise model is

if it’s the only way you feel like you

can make yourself take the first step

if you are like overcome with fear or

anxiety about buying your first

laundromat and you feel like you need

some kind

of safety net even though it’s not

really

a safety net but you know if you

if you feel like it’s going to help you

take the action that you need to take to

get your foot in the game

that’s the only scenario that i can see

having a franchise

maybe be worth it

uh you know in terms of the speed queen

in particular i mean joe dan reed said i

have a hitch uh i have a hip store and

speed queen distributor opened the speed

queen of hips for both alliance

opened a store a mile away and we’re

starting to see more and more of that

and

uh you know i personally i have some

concerns with

alliance and their business model and

what they’re doing in our industry right

now

i have an episode about that on the

podcast you can go check that out if

you’re interested in my

opinions on that uh

so yeah i would i would say hey you know

what

i don’t know where the value is either

other than if you’re too scared to do it

on your own and you can’t do it with a

consultant you can’t do it with

a team of people around you

okay like if that’s the only way you’re

going to take some action

go that route if not

i don’t really see the value in it

either

million dollars

that’s a lot of value

it’s a lot of value somebody’s going to

have to bring

i mean we just talked about 10k for a

pretty good mentor right

and once again i’m using an arbitrary

number but let’s multiply that by five

5k or i mean 50k uh in brian’s case and

i’m he wasn’t speed queen but i’m not

going to you know get into it but the

the uh the franchise that he was talking

i’m guessing he talked to more than one

but the franchise fee was the fee alone

just to get started was 50k to get on

the waitlist to 50k just to get on the

list that’s right then the rest of the

950 was going to be what he would pay in

royalties and things like that

so once again you can probably hire

yourself two or three rock star

coaches and mentors in the industry and

take your time for five or six months

and

i i mean

i don’t know what else to say other than

that like i think you’re going to be way

ahead of the game uh but just take the

important thing to know is regardless of

what route you go take your time

take your time work on your education

because it’s amazing what you can learn

this business is not that complicated

it’s not easy but it is simple

and if you just take your time and work

with people and really network hard and

get involved in groups like this and

take advantage of resources like the

laundromat resource podcast and things

like that you’d be amazed what you can

learn in six months without spending

very little money but if you’re willing

to spend ten fifteen twenty thousand

dollars um i mean you’re

you’re going to be really far ahead of

the game in my opinion

yeah

yeah thanks for sharing all that i mean

i think i get that question all the time

so i mean i think that’s

a great

primer for anybody kind of thinking

through that and where that might be

worth it there may be other scenarios

that i’m not aware of where it’s worth

it but i just

i don’t know

uh okay so

somebody was asking about um doing

pick-up and delivery and

they want to

offer dry cleaning but they don’t want

to actually own

a dry cleaners and so

what do you have any

advice for somebody wanting to offer dry

cleaning pick up delivery how do you

partner with the dry cleaner is there

an arrangement you need to have do you

have a contract

what can you tell us about that

yeah i do that personally i’ve been

doing that for about three years um and

once again not rocket science but the

key to the whole thing is having the

right partner just like people that

trash partnerships and say they’re

terrible well they probably had the

wrong partner i know people that and i’m

not a partnership guy myself but i know

people that get in partnerships with the

right partners and they love it they

love everything about it because they

can leverage and scale themselves and

their partnership um so there’s good and

bad and everything but um yeah i think

it all comes down to you know you what

you’re going to do is you’re going to

find a local host or a local dry cleaner

first of all that’s willing to wholesale

because a lot of them are not a lot of

them want that full retail margin and

they think that if they do wholesale

work for you that they’re now doing

wholesale work rather than retail

because they think that you’re taking

money out of their pocket that’s

business that

maybe not would have but could have went

to them so the first thing to understand

and every market’s unique and different

but the first thing to understand is

that a lot of dry cleaners aren’t even

interested in doing wholesale work they

want that full margin business they want

the retail business themselves

so that’s the first thing is just

finding somebody that will do wholesale

work the next one is finding someone

that does it well which is a very

difficult thing to do

you find somebody that that actually

it’s important to them because if you

take the first two things and you take

them off the table and you find a dry

cleaner that wants to do wholesale work

and will do it it’s still going to be

their least priority meaning that

they’re going to rush you’re not going

to get the quality so it’s a lot you

know it’s really easy for somebody to

jump on here and say just find a local

dry cleaner wholesale it out to them and

don’t do any of the work and collect all

your profits and uh in in a perfect

world it would be that easy but it’s not

and the last thing i’ll say is if you

find that person you got to manage that

relationship you have to let them know

that you appreciate that partnership you

have to let them know that they’re the

value they bring to their your

partnership is important to you

and it can be little things and big

things like taking them out to dinner

and stopping by and seeing how they’re

doing and um things like that but it’s

really it’s really all predicated on

finding them you ask about contracts i

don’t have a contract we have a pricing

agreement but we don’t have a contract

before between me and the distributor or

between me and the dry cleaner i’m sure

most people do but i found a perfect dry

cleaner and we have a relationship and

agreement i would say that works for us

um and it’s a perfect situation and i’ll

share it

they do our wholesale work at 50 margins

and so i told them i said whatever your

retail price is because they also do

retail work um i said whatever your

retail price is i need your wholesale

price to be half of that and i’m going

to charge the same retail prices as you

and my point within that was i’m not

going to beat you up on price

i want you to make money um but i’m also

not going to undercut you so if i can

get you know a

perfect example in investing in that

relationship is we’re in the same market

we’re both in cincinnati

and i do pick up and delivery so we

cover pretty much all of cincinnati with

pickup and delivery and i could very

easily say well they’re doing it for 50

um you know i can mark it up 25 and

still undercut them by 25

well how long do you think that

relationship’s going to work out

so i mean you got to be a little bit

smart about your partnerships because if

you build a i don’t know substantial the

right word dry cleaning is kind of a

dying industry but

if you build a substantial relationship

with a wholesaler knowing that how the

things i just talked about how hard it

is to find and build that relationship

and all of a sudden they drop you like a

hot rock

what are you going to do you don’t want

me dry cleaning equipment

so it’s not easy to find but when you do

find it treat them right appreciate them

for the value they bring to you

and it can be a great thing it’s been

fantastic for me in fact i don’t

remember what episode but if you go to

the laundromat millionaire show which is

my podcast

i did an episode with my dry cleaner

which they wholesale to us and we talk

about our relationship um i think the

episode is called thriving and dry

cleaning just like the tagline uh but if

you just go look up the laundromat

millionaire show on any podcast platform

or on my youtube channel you can find

that episode there and we talk about our

our uh

wholesale relationship a decent amount

what do you have any thoughts on that i

know you don’t you don’t do direct

cleaning right

no i don’t

yeah

yeah i don’t have you interviewed anyone

on the podcast that does it well and got

into that much or not really uh

i can’t think of any that you have

no i mean can’t kent wales but he he

does his own yeah uh

so yeah not really actually i haven’t

really touched

uh touched on it too much um

but i mean everything you’re saying i

could not agree with more which

you know is

you know

do good business right and like treat

don’t don’t beat people up

and don’t take advantage of them like if

you’re trying to

you know outsource

dry cleaning

you know you need to be don’t you know

don’t be undercutting them that

relationship’s not going to last but on

the flip side of that you also need to

make sure they’re doing

you know they’re

they’re representing your business when

you partner with somebody like that

they

you know the quality of their work is

going to reflect on your business more

than it reflects on their business

because the customer doesn’t see your

relationship with that dry cleaner so

yes treat them correctly but also hold

them to a standard and make sure that

they are

delivering the

you know the value that you

at the standard that you want to hold

um as part of your business so it kind

of goes both ways

uh for that

yep no i totally agree that’s episode 11

on the laundromat millionaires looking

that up real quick oh that’s 11 on the

london millionaire the dry-cleaning one

yeah yeah the drink awesome thank you

well listen man if i can interrupt your

program for a minute here i have an

announcement

okay

if i made an announcement on your your

channel dude yes especially since it

involves you man

so guys october 5th

hopefully i got everyone’s attention for

a second here a little intrigue

so october 5th which is next tuesday

my book comes out it’s the pre-sale so

it’s a pre-order

this is not going to be on amazon and

it’s not going to be in bookstores yet

i’m only making this announcement to my

what i call my tribe so we’re not doing

marketing yet for the book

the the people that are hearing me now

or will hear me in the future on my

podcast whatever

i wouldn’t say it’s a secret because

anybody can go buy the book starting

october 5th

um but it’s not it’s a pre-sale and so

it’s it’s pre-launch

and you can you can buy my book laundry

matt millionaire which is my life story

and the reason that i wrote the book is

i’m not trying to be a hero

what i’m trying to do so i’m not what i

mean by that is i’m not trying to brag

instead of trying to be a hero through

my book what i’m trying to do is be a

guide

so i’m trying to guide you i want you to

learn from my experiences good bad and

ugly and i want you to get value so we

just talked about all the things that

having a good mentoring coach i had an

amazing mentor

he was my equipment distributor still is

to this day steve millman of hm company

phenomenal human being one of my very

good friends and i talk about that

relationship and the value but i also

talk about how i found him and i talk

about my journey of we talked about the

four to five years um of blood sweat and

tears working 9 200 hours a week how i

turned 30k into multi-millionaire status

and all the things in between it’s my

life story it’s my journey um and so i’m

i’m excited to share that with you all

and the reason i am is because i know it

will help you if you’re a veteran

laundromat owner i’m confident it will

help you if you’re new to the industry

i’m confident it will help you

and that’s really what i want to do is

just promote that message that me and

jordan are all about which is just

bettering the industry sharing

information tips tricks and ideas with

each other so that we all can be

stronger

so i’m really excited

we’re going to actually have a live

stream at 1 pm eastern time

on tuesday it’s going to be on all of my

channels so you can go to my youtube

channel you can go to my linkedin page

you can go to my facebook page any of

those things and the live stream will be

happening on all those channels other

than instagram

and the coolest part is i have this

super sweet guest that’s joining me on

the live stream uh because i’m kind of

i’m not a real good looking guy and i

need some eye candy on there so i’m

having this guy from california uh

jordan barry if you ever heard of him i

will be sure

he’s gonna oh my goodness it’s gonna be

a gun show and everything too much candy

but jordan is gonna be joining me and

part of the reason is just because

jordan is a great friend and an

amazing friend and a supporter of mine

um for sure along this journey and i’m

honored to have him on there but part of

the reason that i’m gonna have jordan on

the show the live stream uh for an hour

is because jordan got an advanced

manuscript he got an advanced copy of my

book so jordan has already read my book

in full

and me and jordan are going to be

talking about the book and how he sees

it and whether he feels that it will

help other people and jordan is a

veteran of the laundromat industry he

knows his stuff

and i’m hoping that maybe he picked up a

few things uh from reading it now he’s

heard me talk for you know ad nauseam

for over a year now uh what do we got

here oh look at that he’s just showing

he’s just showing off that he’s also

remarkable so he’s that’s remarkable uh

but so anyways we are uh we’re gonna

pick jordan’s brain a little bit and for

those of you that love my amazing wife

carla is going to be on the live stream

with me and jordan too

and she’s a rock star in her own right

she has obviously read the book but

she’s also lived the book with me

because it’s my life so anyways i’m

honored to be able to tell you guys

about that i did make an announcement

that we were going to have uh the

pre-sale on october 5th a couple weeks

ago on social media uh but i you are the

first ones to know on this right now uh

you’re the first ones to know about the

live stream that jordan will be joining

me and that we’ll be spending an hour

kind of talking about the book and

jordan and carla have read it and

talking about my journey um and then the

last thing is if you buy it that day on

october 5th

we’re going to have a bunch of bonuses

and so you’re going to get a bunch of

stuff for free and if you buy the book

if you order the book on october 5th

which is next tuesday

everyone that buys it that day gets an

autographed copy

of the book from me personally

and so i hope that you guys will you

know not only support me but i really

believe that it will help you all and i

would love it if you would tell other

people about it because this is kind of

just an industry thing it’s eventually

going to end up in bookstores and

airports and stuff like that down the

road but i really want you know i’m

grateful to the industry for all their

support to me over the years and i want

you all to kind of have that first uh

first crack at it and uh so i appreciate

you all so i just wanted to make that

announcement on here so thanks for uh

giving me a couple minutes there jordan

yeah and it is awesome i mean i have

read it looking forward to chatting with

you about it and uh

that live stream is gonna be a lot of

fun man i think we’re gonna have a good

time i know this is kind of the

you know beginning of

all of this hard work that you’ve been

putting into this book and not just the

book but your

your business and your life for the last

10 plus years

you know it’s all kind of coming to

fruition and starting

october 5th and then you know obviously

as it as it continues to roll out so

super excited super fun super good book

you should definitely put it on your

calendar to join that live stream it’s

going to be a lot of fun last thing i’m

going to tease you guys with in addition

to the book in addition to the freebies

the autographs

i’m going to make another announcement

that has nothing to do with the book

on the live stream with jordan and with

carla so if you want to find out what

that is you’ve got to come check out the

live stream 1pm eastern time what is

that over there on the west coast 10 a.m

or something like that 10 o’clock best

coast time i’m gonna wake up jordan a

little bit early out there um and so if

you want to know what that announcement

is you got to come check out the live

stream guys

so anyway thanks bud appreciate you

giving me a second yeah

all right let’s help some more people

before we run out of time here we still

got 25 minutes all right good because we

got some more questions to get to uh

first of all

real quick eric congrats just bought

your second laundromat and nice cleaner

so dude celebrating with you

right congratulations huge

accomplishment ready to go love that uh

can we talk i mean we’ve kind of already

talked about this somebody was asking

about the the delays in production and

you know just is what it is i think i

saw somebody say that dexter’s backed up

till may right now

and that may

turn

into something later than may also as it

kind of goes along so

if you’re thinking about buying a

laundromat that needs to be retooled

talk to someone sooner rather than later

if you’re

getting new equipment in talk to someone

sooner rather than later because this is

one of those times where

you just kind of have to plan ahead a

little bit because

well the other thing as fellow

laundromat owners the other thing i’ll

throw out there with you is we’re in a

unique situation and what i mean by that

a lot of times because this is actually

a pro this is a good thing so i like to

look for the silver linings

so because equipment is in so demand and

the

supply is so short

if you are in a situation where you’re

retooling or buying a new store and you

think you want to buy new equipment or

whatever go ahead and put your order in

your distributor will put that order in

for you because they have really no risk

to order and i actually have a couple

coaching clients i gave this advice to

and they are very grateful that we went

this route it’s worked out amazing for

them because what happens is the

distributor orders the equipment

worst case scenario the deal falls

through you don’t end up closing

you know i don’t know whatever happens

and you don’t need the equipment that

distributor will happily take that

equipment because they can sell it

because the laws of supply and demand

are so tipped away

from them that having

let’s say hypothetically 10 60 pound

washers in their warehouse that you

ordered that you wanted and all of a

sudden now you don’t want them anymore

they can sell those in five minutes and

make some pretty happy customers right

now and so you know whenever there’s

pros to anything in life there’s cons

too so let’s look at it through that

lens um i do i do know several people

that are equipment distributors and i

mentioned one of my good friends um so i

will tell you that when it comes to

anything computerized like the touch

screens and all that stuff that’s all a

computer chip issue and they don’t know

when that’s going to be solved

so if you want touch equipment for

example from any manufacturer if you

want touch equipment just know that they

don’t know when that problem is going to

be solved it could literally be years

from now if it’s worth waiting that

could be an endless endless waiting game

but the flip side is there are there is

still a pretty good amount of equipment

out there that’s made that doesn’t

require whatever chips are in shortage

at least this is what i’m being told

and it tends to be the larger chassis

machines now because the demand is so

high for what they can manufacture

the loss of supply and demand are now

tipping in that way because if i would

have ordered touch equipment and then i

say well never mind i’ll go with the

non-touch equipment just so i can get

what i want and build my laundry mat

well that’s increasing uh or that’s

degrading the supply and increasing the

demand for that equipment where it

wouldn’t necessarily be as high normally

so you just have to play these things

it’s part of being in business um and

usually we don’t you know in america we

don’t usually have supply chain issues

like we do right now but we do and

they’re probably not going to be solved

anytime soon so

my two my two cents worth on that my

friend look at the silver lining i like

your positivity you know like i’m just

vibing off your positivity right now you

know the funny thing is the funny thing

is i i you know i mean i think i am an

optimist i think that’s fair to say

but what it really is for me is it i i

used to

you know i grew up once again get my

book you know check out my story but

you know i grew up in a pretty pretty

rough environment and experienced a lot

of tragedy in my life

and

one of the things i kind of learned from

that was

you know you can you can waller in your

own misery

or you can look for the silva linings

and um there’s always silver linings

they may not be as big as the negatives

but the negatives you’re going through

you can’t change anyway so you might as

well just look for the positives i

remember someone i don’t remember who

this

who said this but during 9 11 there was

a quote during that crazy crazy time in

downtown new york city and stuff

and someone said you know look for the

heroes look for the look for the here as

bad as that situation is look for the

heroes look for people doing good things

in times of tragedy and this might not

be a good parallel but the reality is

like i mean we’re going through what

we’re going through guys and equipment

is a situation it’s in

let’s look for the positives because we

can’t really change the negatives

anyways so

it’s kind of something i had to train

myself to do i don’t think it’s a

natural thing

but it’s just how i choose to kind of

look at life

i guess you go through enough adversity

you’re like you know what if i’m gonna

go through this anyways i’m gonna learn

some stuff let’s let’s try to look for

the things i could learn and mine’s not

mine might as well not be miserable do

it too yeah yeah absolutely and you know

what i know you know this jordan that’s

a decision we make

and we got to take accountability for

that we got to take responsibility and

say

you know what i’m just going to look at

it through a different lens it doesn’t

mean we bear head in the sands doesn’t

mean we don’t acknowledge the

tragedy or whatever is happening in the

world

it just means that we chose to focus on

something other so i don’t know if that

helps at all this is just laundry

equipment i’m not you know

not necessarily life-changing things but

uh maybe that maybe that helps people a

little bit

we’re being accused of stealing from mr

rogers right now so

mr rogers is it stacy i don’t know did

he say that okay it sounds like

something you should say yeah real quick

okay

real quick on the lender question i’m

not going to give out any names or

specific people i mean eastern was

thrown out there they can be a good

option

i always encourage people hey if you’re

interested in laundromat specific lender

shoot me an email because i have a

couple of guys

that are really good

that i don’t get anything for this but i

get a lot of leverage over these guys

because i send them a lot of referrals

and so they are always

sure to take care of the people that i

send them because they want me to

continue sending uh sending people to

them so

if you’re interested in laundromat

specific lender just shoot me an email

and let me do an email introduction i’ll

put my email in the

uh in the chat here and i’ll do an email

introduction to you just to make sure

they take care of you and again i don’t

get anything for that maybe i should but

i don’t

hey somebody said uh dave

they’ve they their impression is that

self-serve laundry is on the decline in

wash and fold and pick up and delivery

laundry is on the incline

i don’t have any

stats to back that up one way or another

do you have any sense of that if that’s

true or or false

i mean i don’t have any

i don’t have any data to back this up

other than just a lot of conversations

that i have which you you have a lot too

i don’t think that’s true i don’t think

they i don’t think they’re really

related at all um just my opinion and i

will say that i’m referring to the top

of the industry

um i think there’s way way way more

laundry in the world

than a drop-off laundry a pick-up and

delivery and even a high-end

uh modernized laundromat can handle

because there’s so many terrible laundry

mats and terrible apartment laundry

rooms and you know so many residential

washers in their homes and dryers that

are just quite frankly residential

washers and dryers are just i mean the

day you buy them they’re complete crap

anymore the way they’re manufactured is

just garbage and so they’re unreliable

um so

i mean do i think that drop off or let’s

just call it wash dry fold and put them

in one category do i think that’s

growing

absolutely i think it’s exploding and i

think i think us laundromat owners

stepping up our game which correlates

back to stepping up the education

process and us sharing information with

each other

i think these are all directly

correlated to us laundromat owners

operating better and when we increase

our value proposition then people are

more likely to use our service whether

it’s drop-off

doordash through sense

pickup and delivery of your own vans

whatever that looks like

there’s no doubt about it that the

having your laundry done

by a laundry service of any kind is

absolutely exploding

that’s not even debatable

to my knowledge the information that i

have the self-serve segment that

industry is not shrinking that that

industry is growing too

so i don’t think there’s any correlation

there and i would argue that the

self-serve declining

i don’t know that that’s true i’m pretty

confident it’s not

are there less and this may be what

you’re getting at that i do believe that

the number of laundromats in the country

are shrinking

um but those aren’t also correlated the

country 40 50 years ago laundromats that

were built were primarily smaller with

small footprints and of course served a

small area

nowadays the modernized laundry mats

tend to be anywhere from 3 500 up to 6 7

8 000 square feet and sometimes bigger

and so they can serve a better area a

better area

and then the modernization of equipment

we can get them in get them over and get

them out quicker which means we can

increase our turns per day and still

keep our customer satisfaction

at a high rate so when you take all

those things into account

i don’t think they’re correlated at all

i think that was ultimately the question

that they asked and i don’t i don’t

think self-serve is dying at all i think

the bad self-serve laundromat operator

is dying as they should so let’s kill

them

not literally that guy i got a graphic

man

lynch mob love it i’ll get my [ __ ] for

it uh no but i think you’re right and uh

and i would say maybe not the bad

laundromat owner is dying but the bad

laundromats are going out of business

yes owners may or may not be alive i

don’t know well i didn’t mean literally

meant that you seem to say really the

business

uh yeah no i know

uh keisha i just want to let you know i

saw your issues with a lot of that

resource and you’re having problems uh

resetting your password so i will check

in on that for you i just want to let

you know uh

card coin app was the best payment type

oh geez

you’re just you’re just picking a fight

aren’t you

the answer is it depends guys

every time why don’t you come to this

whatever questions you have just put it

depends on there it depends i’m gonna go

have dinner have a good night guys

yeah i mean it really does depend and

the reason i what i tell people and this

is my recommendation is

i think your market matters so i’m not

i’m a midwest guy but i have a ton of

conversations with people all over the

country and have for 12 years so i’m

aware that not everybody has this

midwest mentality but let’s not also

pretend that everybody has that new york

city l.a mentality

where they want everything on their

phone five years ago because they’re

they’re i mean the country you know

i always refer to our industry i’m

talking about self-serve now because

we’re talking about payment systems but

i always refer to it as submarkets and i

know you do too jordan and in la i know

you refer to like a sub market as like a

half mile sometimes even less than a

half a mile but in some markets a sub

market could be 10 or 15 miles if you’re

kind of in a rural area

and so those things factor in but what i

tell people is that this is just a very

general rule of thumb

is when if you’re doing gross self-serve

revenue of zero to four thousand dollars

a week then you there’s probably no

reason to be anything other than coin

now when i say coin i personally am not

a fan of quarters if you’re using

quarters right now there’s nothing wrong

with that but i would be looking for a

new solution

and if you’re just talking staying coin

then probably just want to evolve to

dollar coin and just make sure that you

can get them from your bank because it’s

a very easy solution dollar coin is a

true win-win for the custom compared to

quarters

dollar coin is a true win-win between

the consumer and the business owner you

both win

um that’s the real quick answer on that

prepaid cards there are many many

systems what they call loyalty cards

there are many operators out there in

the country that will swear by them and

there’s a reason for that because there

are ways to run those systems in a very

efficient way things like luke williford

does the half you know by half or what

what is it he calls it he’s got a name

for it’s the uh i don’t know double your

phone

where like he’ll open a new store with

his card store or whatever and you know

you know if you put 20 on a card it

gives you 40 he’ll do that temporarily

to get people used to using the card

system so my point is there’s promotions

and ways that you can kind of i don’t

know if manipulate is the right word

yeah incentivize thank you incentivize

people to use a card system um and that

can be very useful

and then there’s phone pay and the same

thing there you can incentivize people

by giving them incentives to buy extra

credits on their

on their phone app and then obviously

there’s hybrid systems out there so what

my general rule of thumb is zero to four

thousand dollars a week in gross revenue

you should probably get away with you

can probably get away with being coined

uh anywhere from four to ten thousand

you probably need to be hybrid in most

situations and i recommend

a dollar coin hybrid with a card system

and most card systems nowadays also have

you know phone pay apps and things like

that so you kind of get all three worlds

if i had a store that’s over 10 000 a

week in self-serve revenue which i don’t

if i did i would be coinless there is no

way that i would do any coin including

dollar coin if i were doing volumes like

that um i don’t think it’s sustainable i

don’t think it’s practical so those are

general rules of thumb that doesn’t mean

that you’re the terrible operator if

you’re at 11 000 a week and doing hybrid

or whatever these are just general rules

of thumb so maybe maybe that helps you

out a little bit

all right

no i mean i’m i’m right right with you i

might uh you know just for fun argue

with you on the dollar coin versus

quarter but you know ultimately you’re

probably right so uh i’m gonna shift us

into i’m always right what are you

talking about

almost now i’m gonna shift this into uh

in the

rapid fire round rapid fire we got 10

minutes guys i got a bunch of questions

here that we haven’t touched yet

so keep them short keep them snappy keep

them valuable

here are some quick answer questions for

you okay

oh my gosh

quick quick what are some marketing

techniques that have proven success

do some digital marketing and you go

check out i don’t know what happened to

my camera just got older yeah

go check out i’m better looking blurry

anyways everybody else especially my mom

look at that uh man you are a better

looking board uh

go watch this

no it won’t focus on me

he’ll watch dave’s video on using a

professional marketing company uh but

digital marketing seems to be the best

in terms of those uh you know facebook

tends to be pretty good google can be

good especially with uh you’re still

worried pick up a delivery or uh

or watch drive fold um google could be

good and i’ve heard a couple people now

say they’re having really good success

with instagram which is really just

facebook marketing but

um dave’s gone oh now you’re real good

looking dave that’s the best you’ve ever

looked to be honest

bam oh he’s back reset the camera uh

yeah so and i saw there’s a lot of stuff

going on in the chat there so go check

on that

that’s uh marketing guy which i still

uh i still think that email marketing is

by far the least utilized

biggest upside marketing potential for

laundromat owners especially if you’re

doing a drop-off service or pick up a

delivery but even if you’re just doing

self-serve i think email marketing can

be a great opportunity

but it does take a little bit of work

and you can automate a lot of it but it

takes some work on the front end to get

it set up and get it set up correctly

uh so something worth an example of that

what’s an example of that

using

because you’re talking about like

self-serve drop-off pickup and delivery

whatever

yeah so yeah so i mean

first of all you got to collect email

addresses to build a list and actually i

was looking at a laundromat

just today with a consulting client who

the the laundromat is actually coming

with a list of 4 000

customers

and so there’s a lot of different things

you can do with that number one just

being in their inbox and reminding them

hey especially their pickup delivery or

something like that hey we have

you know don’t forget you know it’s

mother’s day coming up

give your mom the gift of free laundry

here’s a you know

a double your money for the whatever

your promotion is you know that you can

do for that

um just reminding people that you’re

around if there’s even i mean you can

even get as general as hey this has

happened in the community don’t miss out

we’re going to be there or

you know

that kind of thing but really you can

uh do promotions that way you can

offer

uh you can offer things that way you can

even sell

through your email marketing if you have

things

to sell so i mean i think

this is rapid fire around so i don’t

want to get too much into the details

but you know i maybe we should maybe i

should or you should or we should we

should find somebody to make some

content on that because i do think that

that’s a huge opportunity that we’re

missing out on

as an industry

yeah i agree we should talk about that

uh all right what about a monthly

subscription model for

doing laundry that work

you know i don’t know anybody that’s had

success with it i know a handful of

people that have tried and i have my

hypothesis on it

my hypothesis is actually

you didn’t mention if it’s self-serve

but i’m assuming that’s what you’re

referring to

my hypothesis is actually the same as

like a buy-the-bag subscription for

pick-up and delivery

and what i always say is this is just my

opinion so don’t attack me guys uh my

opinion is that i i believe in value

proposition and i believe a win-win

relationship between the business owner

and the consumer we both want to win we

want to make money they want to get

their product done but they also don’t

want to pay for more than they use

um and and i’m not a fan of that in our

industry and the reason why is whether

it’s uh you know using a large machine

versus a small machine in a self-serve

environment or doing drop off laundry we

have a lot of questions by the bag sorry

um you know what it boils down to is if

you if you do a subscription service

somebody’s getting ripped off

if you if you do fill a big halfway and

you pay 50 for it then the business

owner is getting ripped off if you fill

it up with 80 pounds of laundry and

you’re paying 20 cents a pound um or i

had that backwards the consumer is being

ripped off if the bag isn’t filled up

and so it’s not a win-win it’s not a

true uh exchange of value so i’m not a

fan is what it boils down to

somebody has to lose yeah i don’t like

win-lose situations especially in a

business relationship

but even in like a negotiation i don’t

really like that

uh somebody asked about pbi laundry

consulting i know those guys personally

so shoot me an email if that was you

jordan atlanta my resource.com i would

love to tell you about those guys

you just talked about price per bag

uh when’s a good time to find a mentor

when in the process of buying a lot of

that’s a good time to find a mentor what

do you think

um i think the easy thing to say is

today but since we’re doing quick

answers um you know what i would tell

people is that a minimum

45 to 60 days before you close on a

laundromat i mean what i always tell

coaching clients is you can do an awful

lot of research and a lot of homework

and a lot of reading and diligence as

long as you don’t sign anything you

don’t take action you don’t close on

something or put a deposit down

then you can’t really do yourself much

damage other than just wasting a little

bit of time

but when you start making definitive

decisions like putting offers in or god

forbid closing on a laundromat without

having

the knowledge base either paying for it

or having it yourself then that’s a

dangerous thing so somewhere in that

somewhere in that window uh between when

you decide to do something and when you

actually do something somewhere in that

window

yeah and real quick for me i would say

after you’ve done some homework you

can’t hire a consultant expecting them

educate it’s gonna it’s not gonna be

cost effective for you if you expect

them to educate you along the process of

do your own education and when you’re

ready to take action that’s when you

bring somebody on board so similar to

what you said

our pickup and delivery margins 40 to 50

percent is that what you should be

looking at um

no i mean once again every situation is

different if you’re just what i call

dinking and dunking if you’re just doing

uh pick up and delivery you got one van

and you know maybe you’re in la and you

do it two miles from your store you’re

not in other words you’re not trying to

grow this robust business um yeah you

could probably get away with margin

something like that but i’d say that’s

definitely the uh the exception rather

than the rule typically it’s about 30 to

35 if you’re like in a route based

business

and by the way in the first year or two

you can pretty much expect expect to uh

either break even or lose money so don’t

expect to just buy a van go out pick up

100 pounds of laundry and have a 30 35

margin you gotta scale

you gotta scale so don’t let anybody

tell you

hey you’re going to do 500 pounds a

month within month one and you’re going

to be 30 percent margins because they’re

just lying to you folks they’re using

you um and you have to scale the

business to get to those margins

uh you’ve answered this before on other

q and a’s and i’ve answered it before

too how can should you change machines

since we’re rapid fire i recommend 12 to

15 years but it also depends on your

volume if you’re doing two to three

turns per day you can get away with a

high quality laundry mat operation um

that’s a little bit further let’s you

know once again depends on the equipment

i mean this is a rapid fire question so

12 to 15 years is a pretty good rule of

thumb we’re taking dave way out of his

comfort zone you’re killing me man he

just wants to go for days too much good

knowledge in there uh okay

i saw a few different answers on the

average pounds of pickup and delivery

order do you have anything to say on

that

average pounds per customer yeah

um i think that’s also going to vary a

lot i know stacey mentioned in here that

she’s 20 something but she’s in florida

i thought that was a fantastic point uh

the weather does matter we all know that

i mean in the midwest in the winter we

go up 10 15 percent in the summer we

drop 10 or 15

so there’s a 30 swing there just between

having cold weather clothes and warm

weather clothes so if you’re always in a

warm weather environment yeah i think

that i think that does calculate in uh

i think i checked on this about a year

ago and i do been doing pick up and

delivery for about five years and our

average pounds per pickup was like 48

pounds it was like 67

and that was probably before i raised my

prices so it’s probably closer to 80 now

but yeah 40 40 to 45 but stacy is an

example of a cold market or a warm

market we’re probably going to be closer

to 30. yeah bikinis and speedos are

pretty late so they are

it also depends on your customers if

you’re doing my laundry heavy if you’re

doing jordan’s a little bit lighter

they’re a lot

lighter plus he doesn’t wear a shirt so

yeah especially since i’m sure it was

half the time uh okay so

what do you do when distributors are

price gouging you and you don’t have any

other options because the distributor is

gouging and they’re just representing

all the manufacturers

i don’t know what you do in that

situation

you know i mean if that’s literally a

true situation and there’s i’m not going

to say it doesn’t exist because if you

say it doesn’t it does

but if it’s true literally that

situation i personally i i and i

i don’t say this i don’t say this

lightly at all i would report them and

i’m not kidding um and i don’t don’t say

that lightly if that were really

happening i think that as a general rule

as consumers just generally speaking we

tend to jump to this price gouging

conclusion when it’s usually not not a

true uh fair assessment but i’m not

saying that in this case uh but i mean

we all know like if you truly have a

distributor the services like cincinnati

where i live for example and they

absolutely have a distributorship over

every let’s say the seven major major

manufacturers

uh that situation could exist and that

is what i would do

all right we have we have one zero

minutes and two minutes left

should we all just rip off the band-aid

get rid of our top loaders now or should

we write them out until

they’re it’s time to replace them and

replace them with something else

that’s why you said rapid fire right

rapid fire we have zero minutes two

questions this is one no we should no we

should not all do that the answer is it

depends and everybody should make

decisions based on their education their

market their consumers uh but to assume

that all top loader or all laundromats

should have top loaders in them is is

equally as flawed of a mental exercise

how about that yeah i agree and i think

make a good business decision yeah

the numbers and

make a good business decision if you

need help with that find a good

consultant or another owner or a

facebook group or something like that

someone to help you make a good business

decision yeah don’t ever let somebody

from some

north carolina tell you in

north dakota

that you should never have a top letter

in your store i mean in a facebook group

and then just and that be the be all end

all and that’s how you make decisions

guys we got to be better than that

yeah all right we have negative one

minute last question

remote ownership should you do it should

you not do it

holy moly you’re killing me over here uh

it depends

let’s end it on that we’ve answered that

question in almost every single live q a

so go uh check that out um it’s possible

it’s difficult

maybe not recommended unless you’re in

certain situations where you have an on

the grounds partner or something like

that

you gotta have a solid operating partner

guys this has been awesome you guys have

been awesome awesome uh man thank you so

much not just for your questions but

thank you guys for engaging again i say

this all the time that’s my favorite

part uh you know you guys conversation

over there and helping each other out

super super cool so thank you guys again

for joining us hopefully you found some

good value in there dave as always you

are an all-star appreciate you man and

all the information and insight that you

bring and a lot of fun as always thanks

thank you bud i appreciate you having me

here and guys we will do this again next

month on my channel laundromat resource

channel and uh in the meantime i hope to

see you guys at our live event because

we’re going to be giving away some cool

stuff uh october 5th at 1 p.m eastern

time and if you don’t come to see me

come to see jordan berry because he’s

going to be there i appreciate you guys

and the last thing i’m going to throw

out there what’s that

shirtless whatever dude both of us right

no nobody will see that nobody including

me i have and it’s it’s ugly uh now and

the last thing i’m going to add guys is

we hope you will come back and do this

with again again next month because we

love doing this but tell other people i

know every single one of you know

laundromat owners and we’re not here to

sell anything we don’t have any ulterior

motives we’re just here trying to

elevate the industry help you guys and

help you help each other in the comments

section so please do me a favor do us a

favor tell your friends that are in the

industry people that are interested in

the industry

put it in your facebook groups or

whatever chats you’re in or if you talk

to people offline if you have lunch with

people in your market or whatever all

these things happen in our industry do

us a favor and tell people about this

because we don’t have an ulterior motive

here we just want to help people the

more people we can get in these groups

the more we can help each other and

that’s really what about elevating the

industry is all about so yeah thank you

so much last thing i’m going to leave

you with is go take some action this

week i say this all the time but you’re

never going to achieve whatever goals

you have unless you take some action so

you’re doing the learning here keep

learning keep researching

and then go take some action on it so

find something in here that you can take

some action on big or small and go take

some action this week get closer to your

goals all right guys absolutely we will

see you next month for our 12th

live q a that’s like a full year we’ve

been doing this starting next month that

is that’s kind of crazy kind of crazy

thank you guys appreciate you being here

jason said we’re not wearing pants right

now

maybe now you’ll never know jason we’ll

leave you with that

bye guys see ya take care guys

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