Send us a Text Message.

Welcome back to the Laundromat Resource Podcast! In episode 163, we're thrilled to have Jeimy Flournoy, an inspiring entrepreneur who's successfully transitioned from hair salons to laundromats, joining host Jordan Berry.

Jeimy shares her journey of building a laundromat from the ground up, including hiring her architect landlord, overcoming construction delays, and managing the complexities of opening a new business in PG County, Maryland. We'll dive into her strategic decisions, from selecting the perfect layout to incorporating the lucrative "eighties" machines.

Jeimy speaks candidly about the challenges she faced, the importance of resilient attitudes, and her efforts to support her community by employing single mothers and recent immigrants. Plus, she shares her unique approach to business, emphasizing the value of flexibility, strong customer service, and maintaining a positive mindset.

Whether you're a seasoned laundromat owner or just starting out, you won't want to miss this episode packed with practical advice and inspiring stories. Tune in to learn from Jeimy's experiences and get actionable tips to help you succeed in the laundromat industry!

In this episode, Jordan & Jeimy discuss:

00:00 Jamie Flournoy: From janitor to successful business owner.
10:00 Manager oversees salon and laundromat operations completely.
13:49 Research, plan, take action, ask questions, buy machines.
18:05 Consistently ask for and respond to reviews.
23:51 PG County Maryland small business construction challenges.
29:43 Frustration and anger result from mismatched expectations.
32:24 Challenges are part of the journey.
38:19 Freedom to live your dream and life.
43:31 Hair salon specializing in Dominican blowouts, recruiting.
53:10 Learning process with pricing and distribution challenges.
57:29 Expanding to 40 salons, aiming for national presence.
59:16 Gratitude for sharing and seeking help advice.
01:07:38 Embrace ChargebeeTAI for easier, efficient tasks.
01:10:10 Great interview discussing business and mindset.

Show Notes

https://laundromatresource.com/show163

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Welcome back to another episode of the Laundromat Resource Podcast! Today we're diving into the world of tax-saving strategies with our special guest, Scott Snow, a seasoned CPA from ProVision.

In this episode, Scott shares invaluable insights on how real estate and laundromat business owners can maximize their tax advantages, from the importance of material participation to setting up your business for sale from the start. We'll explore how to offset W-2 income with business losses, the benefits of accelerated depreciation, and the strategic use of LLCs and S corporations. Scott also offers a sneak peek into the nuances of entity sales versus asset sales and their respective tax implications.

Whether you're an entrepreneur looking to optimize your tax planning or just curious about the financial perks of owning a business, this episode has something for you. Stick around for practical tips and actionable advice to keep more of what you earn and grow your wealth. Plus, don’t miss our live Q&A session coming up on July 17th, where we’ll delve even deeper into tax strategies. Let's get started!

In this episode, Jordan and Scott discuss:

00:00 Join live Q&A about taxes.
08:39 Episode not a sales pitch, live Q&A.
11:38 LLC can elect S corporation for benefits.
19:16 Separate entities for legal and liability protection.
23:45 Foreign investors require a US person involvement.
26:12 Separate personal and business accounts for clarity.
32:32 Active involvement determines tax implications for investors.
41:53 Market fluctuations, own assets offer more control.
46:32 Deductions for home office and business travel.
51:03 Encourage legitimacy, provide jobs, maximize tax deductions.
54:18 IRS uses term to tax income.
01:01:08 Detailed records essential for business valuation confidence.
01:06:10 Finance or sell, consider taxes and planning.
01:10:16 Form 8594: Buyers and sellers allocate purchase.
01:17:53 Proactive mindset, strategic planning, and financial empowerment.
01:18:54 Exciting tax talk, live q&a on July 17th.

Show Notes

https://laundromatresource.com/show162

Resources

https://www.provisionwealth.com/

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Welcome to Episode 161 of the Laundromat Resource Podcast! I'm your host, Jordan Berry, and today we have an incredibly insightful and dynamic conversation lined up for you with Amanda Sidell, proud owner of The Laundry Basket in Bangor, Maine. After a successful career as a clinical social worker and a series of real estate ventures, Amanda took a bold step into the world of laundromat ownership. In this episode, we delve into her fascinating journey of resigning from her hospital job just one hour after buying a laundromat and navigating the challenges of balancing business, family, and personal goals.

Amanda shares her systematic approach to managing her laundromat, from writing step-by-step instructions to embracing the importance of understanding the "why" behind every task. We'll also cover topics like expanding pickup and delivery services, the power of delegation, and how she leverages her background in social work to create a human-centered business environment.

Additionally, we dive into the importance of mentors, mastermind groups, and taking risks to drive personal and entrepreneurial growth. Whether you're a seasoned laundromat owner or just thinking about getting into the business, this episode is packed with useful insights and inspiring stories. So sit back, relax, and get ready to be inspired by Amanda Sidell's remarkable path to laundromat success!

In this episode, Jordan and Amanda discuss:

00:00 Podcast guest offers helpful laundromat tips and resources.
07:27 Impulsive decision leads to changing lives forever.
14:01 Tax-deferred exchange for reinvesting capital gains.
17:00 Bought, fixed, rented, sold, chaotic real estate experience.
21:35 Reality of life and business can be tough.
27:57 Endure struggles for long-term success and growth.
36:38 Create business model, travel full time.
37:25 Building business with systems, revenue, rebranding.
44:22 Treating people well in business can be challenging.
49:30 Having a strong why is crucial.
57:58 Evaluate time use, outsource tasks and advertise.
01:02:13 Hopes for growth and travel after graduation.
01:05:45 Recognize progress and avoid frustration in growth.
01:14:10 Money is essential for freedom in life.
01:16:40 Seeking financial and time freedom is admirable.
01:24:07 Offering discounted laundry services to local businesses.
01:29:45 Tanning beds bring revenue, but pose distraction.
01:33:49 Focus on understanding your business goals.
01:38:58 Embracing challenges and growth through adversity.
01:43:53 Join mastermind group or create your own. Utilize Facebook groups for technical support.
01:48:56 Humility and gratitude for guests on show.

Show Notes

https://laundromatresource.com/show161

Resources

Contact: amanda@thelaundrybasket.me
Website: www.thelaundrybasket.me
LinkedIn: www.linkedin.com/in/Amanda-sidell
Facebook: www.facebook.com/thelaundrybasket.me
Instagram: www.instagram.com/thelaundrybasket.me
TikTok:www.tiktok.com/@thecleanest_messylady

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Welcome back to Laundromat Resource! In today's episode, we have an inspiring and insightful conversation with Nicholas Constantinou, a former full-time teacher who transitioned to owning and operating multiple laundromats. Join our host, Jordan Berry, as he delves into Nicholas's entrepreneurial journey from seizing opportunities during the pandemic to establishing a thriving business in Queens, New York.

Nicholas shares his innovative strategies, from starting a pickup and delivery service to balancing operations between two laundromats located just two miles apart. We discuss crucial lessons in managing customer satisfaction, pricing strategies, and the continuous need for learning and personal development. You'll hear about the challenges and rewards of being fully committed to the laundromat industry, the importance of treating employees with respect, and the profound realization that putting people first can lead to long-term business success.

Tune in to discover how Nicholas turned initial setbacks into opportunities for growth, the pivotal role of cleanliness in running a successful laundromat, and his unique approach to creating a welcoming customer experience. Plus, get valuable tips for aspiring and current laundromat owners alike. This episode is packed with actionable insights, from leveraging industry events for networking to the necessity of understanding your business numbers. Don't miss this remarkable story of resilience, innovation, and passion for the laundry industry!

In this episode, Jordan and Nicholas discuss:

00:00 Join our mastermind group, it's invaluable.
05:53 Transition from school to working in laundromat.
15:27 Invested in business, renovated, and saw success.
20:44 Renovated laundromat, underestimated time, cleared gang turf.
27:00 Learning from others' practices; business is personal.
32:55 Dave Menz praises great, customer-oriented employees.
34:23 Valuing, supporting employees is essential for business.
40:31 Set the standard, remove toxic employees.
47:49 Presence and trust created successful laundromat atmosphere.
51:19 Laundry environment with school theme and instruction.
56:07 Laundromat confronted with overwhelming delivery volume, expands successfully.
01:01:46 Adaptation and adjustments crucial for successful expansion.
01:07:59 Your people first, profit will follow.
01:11:45 Cleaners app offers transparent pricing and convenience.
01:18:10 Variation in pickup and delivery fees by market.
01:26:16 Increase prices, switch to card system, worthwhile.
01:28:11 Government-funded card system enhances laundry safety.
01:32:54 "Learn by doing, bring a guide. Yep."
01:40:58 Take action, learn by doing, share progress.

Show Notes

https://laundromatresource.com/show160

Resources

Email: mrcleanersnyc@gmail.com

Website: www.mrcleanersnyc.com

Social Media Links: mrcleanersnyc

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Welcome to another inspiring episode of the Laundromat Resource Podcast! I'm your host, Jordan Berry, and today we're thrilled to have Sukanth Srivastav, co-founder of Turns and a seasoned expert in the laundry business industry, joining us. In this episode titled "The American Dream is Not a Passive Dream," Sukanth shares invaluable insights into the path to success in the laundromat industry.

Together, we delve into the importance of creativity, passion, and dedication in building a thriving laundromat business. Sukanth offers candid critiques of industry gurus and emphasizes that genuine love for your business often leads to profitability. We explore the challenges of navigating conflicting advice, the significance of data-driven decision-making, and the transformative journey of personal and business growth.

Sukanth also uncovers the untapped potential within the industry, stressing the importance of working with the right people, utilizing modern technology, and the power of customer retention and reviews. From personal anecdotes to game-changing strategies, this episode is packed with actionable insights that reinforce the value of hard work and passion in achieving the American dream.

Stay tuned, as we also highlight upcoming events, including a Q&A with Sukanth and a Mastermind Induction Night, where laundromat owners can connect and support each other in their entrepreneurial journey. Let’s dive right in and uncover the secrets to success in the laundromat industry with Sukanth Srivastav!

In this episode, Sukanth and Jordan discuss:

00:00 June 25th q&a and June 26th Mastermind Induction.
08:05 Success isn't formulaic in the laundry business.
14:51 Guy hiding under paperwork, focused on profit.
21:23 Operators making more money but declining satisfaction.
23:00 Buying a house requires love and investment.
32:00 Optimizing online presence crucial for business success.
37:02 Extensive testing improved customer retention by 25%.
40:25 Requesting reviews boost business and confidence.
43:26 Laundromat industry entering data-centered era for optimization.
50:57 Focus on business base, delegate tasks, reach out.
55:45 Persistence and adaptability lead to success.
01:00:42 Competition in laundromat market, seize the opportunity.
01:04:59 In karate, coach's warning leads to improvement.
01:14:05 Value exists even in losses; focus on growth.
01:19:12 Encouraging others to incorporate excitement into work.
01:22:30 Love your business, take action, share insights.

Show Notes

https://laundromatresource.com/show159

Resources

Website: https://turnsapp.com

Linkedin: https://www.linkedin.com/in/sukanth-srivastav/

Email: sukanth@turnsapp.com

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Hey, what’s up, everyone? It's Jordan with the Laundromat Resource Podcast, and I'm thrilled to welcome you to episode 158! Today, I have something truly special in store – I’m giving away my free ebook as an audiobook. That’s right, in this unique and exciting episode, you'll get the complete audio version of "The Keys to Buying Your First Laundromat" absolutely free! Whether you're aiming for financial freedom, extra income, or just a profitable hobby, this comprehensive guide will teach you how to find, analyze, buy, and run your first laundromat.

But before we dive into the audiobook, I have today’s Fastlane tip for you: head over to laundromatresource.com to download a ton of free resources. And if you're ready to take it to the next level, consider joining our pro community for unlimited access to premium tools and templates.

So, without further ado, let's get started on your journey to financial freedom through laundromat ownership. Whether you’re tuning in on YouTube or your favorite podcast platform, sit back, relax, and enjoy the full audiobook! Let's do this!

In this ebook, Jordan discusses:

00:00 Promoting free resources with community and perks.
03:01 Why invest in a laundromat over others?
09:21 Use existing equity to fund new endeavors.
10:05 Private loan partnering in laundromat acquisition may involve equity split, debt access, or seller financing.
14:20 Due diligence: essential to determine laundromat value.
16:21 Laundromats need to cover high fixed expenses.
22:11 Increasing laundromat value through simple improvements and investments.
25:22 Steps to laundromat ownership: high returns, coaching available.
26:52 Take action for financial freedom through the ebook.

Show Notes

https://laundromatresource.com/show158

Show Sponsors

AtmosphereTV- 50+ channels of positive, fun TV programming, allowing you to cut your cable bill and create a great atmosphere in your laundromat! Get the registration fee waived by using this link!
https://atmosphere.tv/partner/laundromat-resource

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

Welcome to another exciting episode of the Laundromat Resource podcast! Today, we have an inspiring story of transformation and business acumen, and joining me are Todd Sherman and Taryn Rooms. Todd took over a struggling, unattended laundromat, tackling everything from equipment failures to a dryer fire while building a loyal customer base and a dedicated team of attendants and delivery drivers. With her marketing expertise, Taryn has been instrumental in branding and customer acquisition strategies.

Tune in as we dive into the nitty-gritty of turning a failing laundromat into a thriving community hub, from innovative flooring choices to creative marketing techniques. Whether you're a seasoned laundromat owner or just starting out, this episode is packed with actionable insights to help you elevate your business. Let's get started!

In this episode, Jordan, Todd and Taryn discuss:

00:00 Entrepreneur takes action after years of hesitation.
05:34 Obsessed with Sesame Laundry, ready for growth.
12:43 Worry and strategy for the new competition.
18:06 Tracked checkbook, bank statements, monitored money flow.
25:10 Community outreach and support resonates with people.
28:57 Educational focus on laundry and fabric care.
34:24 Branding creates consistent atmosphere and customer comfort.
39:44 Building trust, rebranding laundromats for community involvement.
42:58 Rehabbing broken laundromats for successful business.
50:01 Deli owner next door helps with opening.
55:45 Customers find comfort and therapy in laundromat.
01:01:53 Accelerate expansion to multiple locations, streamline processes.
01:05:43 Buying real estate is essential when investing.
01:11:50 Night attendant maintains store cleanliness with talents.
01:18:13 Focus on tracking customer acquisition, revenue, scaling.
01:20:32 As revenue grows, marketing spend boosts business.
01:25:32 Social media perpetuates unrealistic work expectations.
01:31:30 Use social media and Google for marketing.
01:37:10 Expanding services to build branding and marketing.
01:46:24 Great, informative interview focused on business success.
01:48:51 Strive for community service to succeed.

Show Notes

https://laundromatresource.com/show157

Resources

Email: todd@washermans.com or support@washermans.com
Website: www.washermans.com
Instagram: https://www.instagram.com/washermans/
TikTok: https://www.tiktok.com/@washermanslaundromat
Facebook: https://www.facebook.com/washermanslaundromat/

Show Sponsors

AtmosphereTV- 50+ channels of positive, fun TV programming, allowing you to cut your cable bill and create a great atmosphere in your laundromat! Get the registration fee waived by using this link!
https://atmosphere.tv/partner/laundromat-resource

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok

Send us a Text Message.

In this episode, host Jordan Berry interviews Stephen Gramaglia, an inspiring entrepreneur who successfully owns and operates three laundromats in New York. Stephen shares his incredible journey from working at Eastern Funding for over two decades to diving headfirst into the laundromat industry alongside his wife in 2019.

This episode is packed with valuable insights on building laundromats from scratch, navigating leases, hiring staff, and the importance of investing in improvements to wow your customers. Stephen and Jordan explore the pros and cons of buying existing stores versus building new ones, specifically highlighting the benefits of laundry card systems.

Stephen's methodical approach to market research, strategic pricing, and proactive business management has helped him turn challenges into opportunities. You'll hear about his innovative marketing strategies, including a successful "20 for 20" promotion, and the critical role of positive online presence and reviews.

In this episode, Jordan + Stephen discuss:

00:00 Laundromat opened with strict COVID protocols. No competition.
12:43 Goal to set high standard for laundromats.
30:15 Higher price resulted in unexpected higher volume.
38:10 Upgraded laundry equipment improves customer satisfaction.
45:36 Landlords may catch vision for community change.
59:11 Limiting weekend machine use due to demand.
01:11:02 Invested in store, improving it, increasing revenue.
01:18:43 Choosing equipment brand is a tough decision.
01:26:50 Extensive efforts to prevent laundry drain problems.
01:38:58 Anticipate time for store building, avoid pitfalls.
01:48:20 Avoids coin store due to logistical issues.
02:01:46 Insightful and practical advice for business owners.
02:06:22 Action and opportunity are key to success.

Show Notes-
https://laundromatresource.com/show156

Resources-
Website: cleanfreshlaundromat.com
Social: @cleanfreshlaundromat

Show Sponsors

AtmosphereTV- 50+ channels of positive, fun TV programming, allowing you to cut your cable bill and create a great atmosphere in your laundromat! Get the registration fee waived by using this link!
https://atmosphere.tv/partner/laundromat-resource

Connect With Us
YouTube
Instagram
Facebook
LinkedIn
Twitter
TikTok