You've Got Questions, We've Got Answers
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!
Listen To The Podcast Here
Watch The Podcast Here
Join Us For An Upcoming Event!
By Laundromat Owners.
For Laundromat Owners.
Today's Sponsors
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Episode Transcript
good to see you everyone i know
uh
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
uh
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
oh
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
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
um
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
uh
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
uh
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
to
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
um
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
um
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
uh
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
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
go
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
um
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
uh
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
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
to
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
um
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
um
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
is
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
um
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
um
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
uh
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
uh
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
to
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
uh
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
uh
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
uh
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
