How much CASH can a Laundromat really Make ?

How much money can I make from a Laundromat business?

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          What a great question. Cut right through the BS and get down to it. How much money can I make with a Cash Laundromat Business ? Anyone answering that very direct question with an immediate and definitive answer is lying to you. There are simply too many factors involved to know the truth without having run the store yourself for 12 months or more. Here are the facts – These facts remain constant and I stand behind them.

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Number ONE; One weeks Gross (total cash intake) will be your approximate monthly NET (total monthly profit) For example, “Laundromat X” earns $20,000. gross monthly. (that’s $5,000. a week. After paying the rent, debt service, gas, electric, and water bills, your monthly NET will be approximately $5,000.00. How can I say this? How can I put it in writing? Because it is the truth. It was explained to me by my mentor in the business years ago, and I remember thinking, “Can it be that simple?” It is.

          Will $5,000. a month make you rich? No. But let’s not forget, with my proven system you will be “working” at your Laundromat ONLY 45 minutes or so twice a week! That’s a hell of a paycheck for passive income. Now realize that I have stores that Gross $25,000. a month, compound that Net amount by Ten stores and by almost any definition you are “Rich”.

Number TWO; water bills don’t lie.

How do I look at the profit in an existing Laundromat?

There are simple formulas whereby you can find out how much existing stores are earning by merely seeing their water bill. This information isn’t public record, but every owner you bump into should have that figure in the forefront of his mind. Just ask him. And just by his answer you can easily calculate through water usage analysis, what his profits are (or pretty darn close).  The IRS audits these all cash Laundromats by asking just the same questions. (And demanding the answers.)  If you know how much water the store is using, the number of washers, and the per load price, (the latter two are easily obtained by just walking through a prospective store), you can calculate that store’s approximate income.  Simply start with that stores total monthly water use in gallons, divide this number by the number of gallons that the brands and size of washers this store uses, and divide that number by the amount of water used per month. Multiply that number of turns per month and you multiply the number of washes and you have the gross revenue in that Laundromat.

Dryer income is more tricky.  The short hand is simple;  dryer income is approximately 25% of washer income.  For accuracy’s sake the store in question should always be separately metered. You should shoot for at least 24 months of water bills for a proper analysis. Please always be aware in order to get the maximum sales price, some unscrupulous owners may even resort to running a sink in the back room somewhere for months on end just to jack up the amount of water used.  So ask for at least two years of water bills.

When you speak with the owner you can ask what is exit strategy is.  You can ask if he plans to list it with a broker, eventually.  You can ask what he bought the Laundromat for.

Ask what the water bill is and ask what the price of that water bill was 12 months ago.  Has the price gone up or has the price gone down?

Your gas fluctuates.  The winter it will go up and the summer it will go down.

So I guess the long answer is, It’s not How much cash can a Laundromat really make, But a better question; how many Laundromats is enough?

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Owners Earn CASH"After watching the DVD and seeing Danny go out and talk with people it gave me the inspiration to go out right here in Atlanta Georgia and open my first Laundromat. I have been looking into Laundromats for over 4 years, talking with distributors, builders, and even a man who has 6 stores, none of them were able (or willing) to show me the tricks that your DVD taught me. Your DVD saved me over $100,000. in the first six months in free rent alone. I never would have thought of even asking for it until you introduced me to the concept! Thank you, Danny!" Sebrina Barrett - Atlanta, GA

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#invest #cashbusiness #investmentjoy 

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