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Welcome back to another episode of Laundromat Resource, the podcast where we dive deep into the world of laundromats and provide you with valuable insights and resources. In today's episode, we have an exciting guest joining us, Brian Smolin, a successful laundromat owner with a wealth of knowledge to share. We'll be exploring the topic of SBA loans for laundromats and the power of leveraging assets to buy and grow your business. But before we get started, mark your calendars because we have a live Q&A session with Brian on August 17th at 4 pm Pacific Time. To join in on the conversation or find more information, head over to our website at laundromatresource.com/events. So grab your headphones and get ready to learn from Brian's experience and expertise. Let's dive in!

In this episode, Jordan and Brian discuss:

00:02:39 Background & Transition
00:12:35 Seeking consultant feedback on existing business deals.
00:18:38 Focus on being realistic and prepared for worst-case scenarios.
00:22:16 Consistency is key in building habits.
00:30:08 Business-minded approach to unsexy industries.
00:35:14 Tax benefits and clean books increase value.
00:41:32 Equipment financing offers high success rate.
00:43:53 Government loans require 1:1 collateralization ratio.
00:52:42 Assessing industry based on turns per day.
00:57:42 Consider all factors before buying a store.
01:02:51 SBA route: reduced debt, longer repayment terms.
01:11:01 Impressive interview, join the Q&A party!

Show Notes-
https://laundromatresource.com/show121

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Resources
Brian Smolin Email: [email protected]
Brian Smolin Instagram @bsmolin

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