|
Hi and welcome to my site! I started this site to share with people some of the lessons I have learned on my journey in the Laundromat Business. When I started out in the coin laundry business years ago, I never would have imagined that what was supposed to be a, "Safety Net Business" would have replaced both my wife and my income and allowed us to live the life of our dreams.
A couple of things about this site for you to note: First, to the right is a form in which you can sign up for my FREE Laundromat Success Newsletter. By signing up, I will send you an email every time I find a hot tip to help you better find, evaluate, or buy a Laundromat. Plus I'll include any ideas I come up with to help you improve your business, so that you can make more money! The emails will come once or twice a month and you can unsubcribe at any time, although I sincerely hope you won't.
Second, below you will find three past articles I wrote, to give you an idea of what to expect in the newsletter. I hope you enjoy them!
To your Laundromat Success! - Brian
The Most Common Ways to Finance a Laundromat
All right, so you have just found the perfect store and you got yourself a signed purchase agreement, Congratulations! But once the euphoria wears off, you get this feeling of, oh my gosh, I need to come up with some money to pay for this business. So what is the best way to do it? Should you pay all cash for the store or should you finance it? Well, that all depends on the terms of the financing, how much cash you have, and how much cash flow you need to pocket each month from the business. In most cases, it makes a lot of sense to finance the business. So, if you’re looking at your financing options, here are a few choices for you to think about. ...
Read the complete "Finance a Laundromat" article here
The Laundromat Spring Bounce
The Laundromat business is a very cyclical one, meaning that there are times when we can always count on heavy months (the winter time) and other times when the collections are a bit lighter than we would prefer (the summer). In an established coin laundry, the gross revenue in the summer months is generally somewhere between 10 and 15% less than that of the winter months. Why, you ask? In most places in the US, the winter time has colder weather and it rains more. This means that customers wear thicker clothing and more of it. This is all good for filling up the washers and dryers. ...
Read the complete "Laundromat Spring Bounce" article here
Teaching Kids About Money Through Laundromats
I would say that one of my biggest passions revolves around my kids. And that is to teach them about money and entrepreneurship. This for me is, without a doubt, my favorite thing I love about this business and why I love to own a Laundromat.
When my eldest daughter was 8, one day she came up to me with her wallet and showed me how much money she had managed to save up. She had $347. I was impressed; man I never had that kind of money when I was only 8 years old, and so I said to her, “Wow, that’s a lot of money. Well, I guess you are old enough now for us to go down to the bank and open up a savings account.” I had been teaching my kids the Kiyosaki (Robert Kiyosaki, author of Rich Dad, Poor Dad) concept that, the rich don’t work for money, they know how to have money work for them. And she said, “Oh no, Dad, I don’t want to do that! I want to buy a money machine like you have in your Laundromat! Can I buy a washing machine?” ...
Read the complete "Teaching Kids About Money Through Laundromats" article here
Copyright
© 2005-2008 by Advantage Laundry, Inc.; all rights reserved.
Contact
author at brian@advantagelaundry.com or 510-501-3965
Site Map
|
|
Brian In Hayward store
Brian Brunckhorst went from the high tech. testing of computer networking software in Silicon Valley to the low tech. business of owning several Laundromats. He is dedicated to teaching entrepreneurs how to find, evaluate, analyze, and buy a Laundromat as well as improve its operations, so that they will enjoy life and be able to spend more time doing the things that they love!
Articles Links
Finance a Laundromat
Laundromat Spring Bounce
Teaching Kids
Resources
Buy
a Laundromat
|
