🌟 Ready to scale your business? Did you know that laundromats can be a goldmine? 💰 In our latest podcast episode, we dive into how one business went from 16 to 38 stores in just a few years! 🚀

In the ever-evolving laundromat industry, growth and innovation are key to staying competitive. Join us as we dive into the journey of the Best Wash Laundromats team, where Branden Unnerstall, David and Tom O'Hara share their experiences and strategies for site selection, deal valuation and growing a high caliber team. Their insights offer valuable lessons for both new and seasoned business owners alike. Learn about the secrets behind their rapid expansion and how to apply these strategies to your own journey. This is one episode of The Laundromat Millionaire Show you won't want to miss!

#Laundromats #BusinessGrowth #Entrepreneurship #Scaling #Podcast #SmallBusiness #SuccessStories #InvestSmart #CommunityFocus #BusinessTips

Referenced Links: 
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com , Alliance Laundry Systems: https://go.huebsch.com/LM-HU-Newsletter-March26 , Laundromat Ownership Podcast: https://podcasts.apple.com/us/podcast/laundromat-ownership/id1861061728 & LaundroBoost: https://laundroboostmarketing.com
Our Guest: Best Wash Laundromats: 
https://bestwashlaundromats.com/
https://www.linkedin.com/in/thomasoharaku/
https://www.linkedin.com/company/best-wash-laundromats/?viewAsMember=true
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Previous Episode with Branden: https://www.youtube.com/watch?v=3yp4PEjNhpg
LaundroWorks Payment Systems: https://laundroworks.com/
Connecteam Software: https://connecteam.com/

Timestamps 
00:00 Episode 116 Intro – Best Wash Laundromats – Branden, Tom & David
01:30 Introduction and Background of Best Wash Laundromats
03:02 Growth Journey: From 16 to 38 Stores
05:52 Team Dynamics and Complementary Skill Sets
11:57 Best Wash Business Model
14:46 Talent Acquisition and Retention Strategies
19:56 Community Laundromats vs Commodity Laundromats
23:57 Trust and Integrity: Handling the Cash Collections
29:26 Focus on Customer Experience
31:23 Scaling and Finding New Locations
33:42 Managing Locations from a Distance
35:26 Key Data Tracking on Stores
39:15 Maintaining Quality and Customer Experience
43:15 Faith and Community Engagement
44:26 Site Selection and Market Analysis
54:29 The Importance of Branding
55:13 Impact of a Bad Location
55:56 Calculating Competition Density
58:45 Locations that Failed to Perform
1:01:41 Future Growth Strategies and Service Expansion
01:05:29 Future for Franchising?
01:10:51 Final Thoughts & Building Industry Relationships

 

 Modernizing your payment system definitely improves customer experience, but could it also be improving your bottom line?? Steve Marcionetti, President and Founder of CCI (Card Concepts Inc), shares insights on payment system options, the strategies behind implementation, and the ROI you can expect. 

Referenced Links: 
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com , Alliance Laundry Systems: https://go.speedqueencommercial.com/LM-SQ-Podcast113-February26 & LaundroBoost: https://laundroboostmarketing.com
Our Guest: Steve Marcionetti’s socials: http://www.linkedin.com/in/stevemarcionetti , https://www.facebook.com/marcionetti , https://www.instagram.com/ccisteve/ , https://www.tiktok.com/@ccisteve , https://www.youtube.com/@cardconceptsinc8471
Card Concepts Inc: https://www.laundrycard.com/
Laundry Concepts Distribution: https://www.laundryconcepts.com/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/

Timestamps 
00:00 Episode 115 Intro – Steve Marcionetti
01:24 Spotlight: Next Laundromat Millionaire Workshop
02:45 Introduction to Steve Marcionetti and His Background
07:07 Early Laundromat Card Systems
08:42 The Launch of CCI and Its Impact on the Industry
11:50 “Card Systems” – Loyalty vs Credit/Debit
14:13 The Laundry Card System – Loyalty Cards
16:05 The Financial Benefits of Loyalty Cards – The Float
21:59 Innovative Marketing Strategies with Loyalty Cards
29:37 CCI's Other Options: Laundry Card vs FASCard vs Flex RF
35:53 Payment though Mobile App
38:10 Ongoing Fees
39:00 Laundry Card for Multi-Store Owners
40:07 Data Ownership and On-Premise Solutions
42:52 Industry Shift Back to Loyalty Cards
44:58 Ownership of the Float and the Loyalty
46:16 Product Lifespan and Updates
53:04 Transitioning to Cashless: Strategies for Success
58:15 Family Dynamics in Business
1:02:09 Future of the Laundry Industry – Acquisitions & Consolidations?
01:06:18 Innovations Coming in CCI's Payment Systems
01:07:56 Compatibility & Integrations with Other Software
01:11:24 Contact Info & Final Thoughts

 

 There are so many options for modernizing your payment system - how do you possibly choose what's right for you and your customers? How do you ensure customer retention through the transition? In this episode, Dave & Carla share the options, their plans for incentives and a successful transition, as well as real-world results from their stores.

Referenced Links: 
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/

Timestamps 
00:00 Episode 114 Intro – Modernized Payment Systems
00:58 Spotlight: Laundromat Millionaire Calendar of Events
02:20 Is it Time to Modernize Your Payment System?
05:22 Reasons to Transition Away from Coins
09:13 Intro – the Different Payment Options that Exist
10:19 Loyalty Card Systems
11:35 Pay by App
12:59 Phone Pay
13:26 Pay with Credit or Debit Cards
20:07 Our Transition Through Payment Systems – Quarters to Dollars First
23:00 Going to a Hybrid System
27:56 Costs & Benefits of Going to a Hybrid Payment System
31:44 Successfully Transitioning to Coinless
34:50 Avoiding the term “Coinless”
38:12 Staffing for the Transition
43:15 The Impact on Sales
45:18 Customer Feedback
46:22 The Benefits of Loyalty Cards – The Float & Promotions
49:22 Replacement Card Solutions
50:53 Next Steps in Our Transition & Final Thoughts 

 It's a goal of every business owner and often a large expense - acquiring more customers! Additionally, once you get them, how do you ensure retention? Matt Simmons, co-founder of Curbside Laundries, shares tips and tricks he's learned from his background in marketing and the data from their many clients. This is an episode of The Laundromat Millionaire Show every business owner won't want to miss! Also, stay tuned for a peek into the Curbside 2026 Conference!

Referenced Links: 
Our Guest’s Links: Conference Link:   https://www.curbsidelaundries.com/conference/
Curbside Software: https://www.curbsidelaundries.com/
Laundry 'Matt' Podcast: https://www.youtube.com/curbsidelaundries
X:  https://x.com/CurbsideApp
InstaGram:    https://www.instagram.com/curbsidelaundries/
Facebook: https://www.facebook.com/CurbsideLaundries
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Alex Bloom on Curbside: https://www.youtube.com/watch?v=nogsyKKV7jg
Episode on Commercial Accounts: https://youtu.be/bRP1ox4SX2g
Webinar on Growing Revenue: https://get.curbsidelaundries.com/webinar/

Timestamps 
00:00 Episode 113 Intro – Matt Simmons
01:29 Spotlight: Dave AI Coaching
5:13 Matt’s Entrance into the Laundry Industry
10:13 Starting Wash-Dry-Fold POS
11:51 Matt’s Laundromat Operations
13:33 Learning from Others in the Industry to Speed Growth
15:41 First Curbside Laundry Conference
18:28 Laundry Industry Trends
23:24 Customer Acquisition Costs
31:38 Importance of Retargeting
34:19 Auto-Route Fill Up
42:50 Growth of Pickup & Delivery Laundry Services
44:37 Commercial Laundry Trends & OPL Facilities
48:27 Speakers for Curbside 2026 Conference
56:39 Matt’s Links & Final Thoughts 

 Ready to elevate your laundromat? Learn from the retail industry how to make small changes that create a big imact on customer experience. Stan Sugarman, owner of Oz Laundry in Atlanta, shares what he learned from his vast experience in the retail and real estate industries to create his remarkable laundromat in this episode of The Laundromat Millionaire Show with Dave & Carla Menz.

Referenced Links: 
Our Guest’s Links: Oz Laundry: https://www.ozlaundry.com/
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Wholesale Laundry in Alabama: https://www.alaundryman.com/
Eastern Funding: https://www.easternfunding.com/
Laundry Cares: https://laundrycares.org/
Atmosphere TV: https://www.atmosphere.tv/
Presso: https://getpresso.com/
CCI – Fascard System: https://www.laundrycard.com/products/fascard/
Cents – LaundroWorks: https://laundroworks.com/
Alliance ProCapture: https://alliancelaundry.com/news/alliance-feature-ends-lint-issues/
Previous Episode with Craig Madson on Procapture: https://www.youtube.com/watch?v=0zbp5xwruBE

Timestamps 
00:00 Episode 112 Intro – Stan Sugarman
00:54 Spotlight: The Laundromat Millionaire WDF & Delivery Workshop
2:18 More Customers, Not More Equipment
05:50 Stan’s Background
09:10 Creating Oz Laundry
12:09 Lessons for Laundromats from a Retail Perspective
17:49 Reinvesting and a Longterm Mindset
20:46 Laundromat Business Model
21:31 Pivoting with Presso
25:24 Equipment Brand and Mix
27:31 Payment Systems and Coins vs Cards
30:49 Laundromat Journey Challenges and Changes for the Future
34:59 Advice for Prospective Laundromat Owners
36:38 Marketing a New Store
39:14 Importance of Competitive Analysis
41:33 Future Growth & Replacing Yourself
43:11 Contact Information
44:00 Tax Advantages of Laundries
45:08 Final Thoughts 

 Wanting to grow your laundry service business? This episode is packed full of golden nuggets to help you reach more customers and elevate your revenue! In this episode of The Laundromat Millionaire Show, Dave & Carla interview Pete Valconesi, founder of High Mark Manufacturing, Laundry Lockers and a former laundromat owner. Learn about his journey, his products, and how and where we see a future for his high tech smart laundry lockers to accelerate growth in your business.

Referenced Links: 
Our Guest’s Links: https://www.highmarkmanufacturing.com/ and https://laundry-lockers.com/
https://www.instagram.com/laundry_lockers/
https://www.facebook.com/profile.php?id=61562036923248
https://www.facebook.com/profile.php?id=100032295776673
https://www.linkedin.com/in/pete-valconesi-2b862823/
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/

Timestamps 
00:00 Episode 111 Intro – Pete Valconesi
02:19 Spotlight: The Laundromat Millionaire Insurance Program
03:20 Pete’s Backstory
07:10 Starting High Mark Manufacturing – Solving a Problem
12:35 The Evolution of Bulkheads
20:40 Adding Furniture & Folding Tables
22:37 Durability & 10 Year Warranty
26:45 Company Growth
28:17 Pete’s Laundromat Journey
32:42 The Idea for Laundry Lockers
39:04 How Laundry Lockers Work with the App
42:56 Possible Uses for Laundry Lockers
50:44 Technology & Integrations with Other Systems
55:03 Final Thoughts & Contact Information 

 Every successful journey is paved with mistakes along the way. In this episode of The Laundromat Millionaire Show, Dave & Carla reveal their biggest mistakes while growing their multi-million dollar chain of laundromats. Additionally, stick around for the end and learn the 5 best decisions they made along the way!

Referenced Links: 
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Previous Episode – Our Story: https://youtu.be/NpvRxaWmWaY
Previous Episode – Leaving HappyNest: https://youtu.be/gz0-QaNlAoU
Previous Episode- Delivery Failures: https://youtu.be/tkP_Z-Zyn34
Previous Episode- Staffing Keys: https://youtu.be/FxcHafohi3g

Timestamps 
00:00 Episode 110 Intro – Our Mistakes & 5 Biggest Wins
02:13 Framing Our “Mistakes”
07:24 Acquisition Mistakes – Due Diligence Omissions
12:42 Buy or Lease and the Mis-Negotiations
18:34 Basements and Bad Landlords
20:52 Business Model Mistakes – Unattended Stores
25:20 Layout & Machine Mix Regrets
31:41 Folding Space Requirements
35:57 Seating & Flooring Disasters
42:58 Window & Bathroom Re-dos
46:13 HVAC Nightmare
48:25 Targets for Theft & Vandalism
49:55 Marketing Fails
54:55 Keeping Toxicity too Long
57:22 Employee Handbooks & SOPs
1:00:56 Wash-Dry-Fold & Delivery Mistakes – Branding
1:05:03 Software Switches
1:07:05 Service Area, Pricing & Compensation Blunders
1:11:38 Van Selection
1:12:38 Our 5 Biggest Wins!
1:24:27 Final Thoughts 

 After only 18 months in the laundry business, Craig & Michelle of Monster Laundry in Sacramento have tripled their revenue! Learn how they did it and the hard lessons they learned along the way. In this interview with Dave & Carla of The Laundromat Millionaire Show, they share their retooling mistakes, challenges of working with your partner, and their most successful moves thus far.

Referenced Links: 
Our Guest: Monster Laundry: https://www.monsterlaundry.com/
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Previous episode with Dyna Robotics: https://www.youtube.com/watch?v=wpslRUFa6Tg
Dyna Robotics: https://www.dyna.co/
Western States Design – Will Klein distributor: https://www.westernstatedesign.com/
Jordan Berry – Laundromat Resource: https://www.laundromatresource.com/
Dexter Financial: https://www.dexterfinancial.com/
Curbside Laundries Software: https://www.curbsidelaundries.com/

Timestamps 
00:00 Episode 109 Intro – Craig Taylor & Michelle See
01:40 Backstory of meeting Craig
03:10 Craig’s Journey into the Industry – Due Diligence on Location
11:48 Non-Passive Business & Working with Your Spouse
15:22 Lease Negotiations & Financing
19:16 Changing the Store Layout
22:31 Renovating without Fully Closing the Store
24:58 Staffing Challenges
26:55 Mistakes During First Months
30:54 Importance of Branding the Store
34:07 Successes Over the First 2 Years
39:37 Tripled their Revenue  
42:55 Decision to Add Delivery Services
44:53 Mission to Impact the Community
46:33 Ideas for Children in Small Spaces
48:31 Challenges with Homeless Population
52:18 Plans for Future Growth of Monster Laundry
55:39 Final Thoughts & Contact Information 

 Calling a laundromat a passive or even semi-passive business can definitely be a contentious claim! However, Ian Gollahon share how he and his business partner were able to create just that - while also running their software business Wash-Dry-Fold POS! In this episode of The Laundromat Millionaire Show, learn the keys to creating a business you don't have to work in every day. Additionally, learn the latest changes in laundry POS software and advice on how to choose the right platform for your business.

Referenced Links: 
Our Guest: Wash-Dry-Fold POS: https://www.washdryfoldpos.com/
Liberty Laundromats in Oklahoma: https://www.libertylaundryok.com/
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
LaundroWorks: https://laundroworks.com
Alliance laundry systems: https://alliancelaundry.com/
Previous Episode with Brian Henderson: https://youtu.be/e_T9GAL1qdM?si=IoNffY-ViAWoTF-1
Previous Episode with Clean Cloud: https://youtu.be/NZWfAldtLZc?si=nS5zkWg707So1V9n
Previous Episode with Cents: https://laundromatmillionaire.com/laundromatmillionaire_videos/growth-comfort-do-not-coexist-with-alex-jekowsky/
Heartland cc processing: https://contact.heartland.us/

Timestamps 
00:00 Episode 108 Intro – Ian Gollahon
06:49 Tips for Increasing Revenue of Laundromats
10:33 Time Spent at Laundromats  
11:49 Switching from Coins to Loyalty Cards
13:58 Starting WDF POS & the Laundromat Acquisition
17:03 Making the Laundromat Semi-Passive
24:45  Organizational Structure & Why Operate Fully Attended
32:31 Laundromat Fire Risks
39:28 Updates on WDF POS & How to Choose a POS System
46:34 Machine & Software Integrations
52:39 Why You Need a POS System & Combatting Employee Theft
56:29 Get a Demo of WDF POS
57:33 Credit Card Processing Fees
58:21 Final Thoughts – Laundromats as a Semi-Passive Business

 

 

The terms of your purchase deal can make or break your chances for a successful business - and it all starts with making the right offer! In this episode of The Laundromat Millionaire Show, Mike Finger of Exit Oasis returns to share his laundromat journey including tips for proper due diligence, improving the business, and reselling it for 2.5 times his cost!

Referenced Links: 
Our Guest: Exit Oasis Website: https://exitoasis.com/
Mike's LinkedIn: https://www.linkedin.com/in/mike-finger
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.com
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
LM Episode on Due Diligence: https://youtu.be/Q0kIxMrmuwA
Previous Episode with Mike: https://youtu.be/35Od9WsLHD8
Form 8821: https://www.irs.gov/pub/irs-pdf/f8821.pdf

Timestamps
00:00 Episode 107 Intro – Mike Finger
03:42 Mike’s Background & Recap of Episode 81
06:18 Finding a Laundromat to Buy
08:51 Making an Offer
11:33 Doing the Due Diligence – First Attempt & Uncovering Lies
14:37 Looking for Other Options – Drop Note Strategy
15:16 Doing the Due Diligence – Second Attempt & Bypassing the Owner
21:05 Using Utility Bills to Estimate Revenue
24:51 Foreclosure, Final Offer & Purchase
25:54 Dave’s Thoughts on Due Diligence and the Timeline for Purchasing a Laundromat
28:28 The Importance of Patience
30:57 Difficulty in Financing Some Deals
34:23 Running Your Business to Maximize Its Value
37:00 Turning His Laundromat Around and Reselling at 2.5X His Cost
42:36 Learning to Delegate
43:54 Our Story of Creating a Sellable Business
48:22 Changing the Vocabulary Around “Sellability”
51:04 Most Important Concept Learned as a Business Owner
51:46 Impact of the Initial Deal
52:34 How Mike Increased the Value of His Laundromat
57:10 Final Thoughts – Contact Info for Mike Finger