I prefer watching the longer videos like this one. Doesn't have to be a collection video.

I appreciate the honesty about the expenses. It's not just bling bling look at all these quarters - there are costs too obviously. I am surprised the utilities weren't higher.

“That bulge in my pocket isn’t multiple rolls of quarters or dollar bills, it’s something else. They weren’t gonna rob me” hard ass sentence 😭

Brandon... this is nice. Great, real info. People can learn from this, for sure. Been too long since you posted - already looking forward to the next one.

Bless this country for giving people opportunity, these videos are so cool!

Glad you're being tough with these bums!

It's nice watching other people have similar issues and learning from their mistakes. Great content and congratulations on the success of this location.

A lot of your videos have been a big driving factor for me in starting the side business. I started a claw machine business here in Ohio and its been a ride. Thanks for your videos! As someone who is doing cash/coin collections now, I can appreciate the part when you were filling the soda machine. I just recently realized I should be more careful and have started bringing my 'quarter rolls' along with me as well.

Great stuff, Sir! As always, informative and entertaining. I’m glad you have the non-money pocket bulge….😄

First video I have watched in a long time. Thanks

liked the editing, very informative

Love your transparency ... hoping you have a great year.

I really liked the financial breakdown at the end when you spoke about your equity.

Missed your videos. I enjoy videos where you go around look at property's discuss the plus's and negatives about different opportunity. Always interesting

This is so awesome! I aspire to do the same 😮 and I appreciate you showing the process of doing it good sir. Thanks

Derrick with 2 R’s KZfaq channel has a clear understanding of how to repair washers and dryer’s it might help someone you know the basics of repair and save you some money for repairs.

Love the music of the coins!!

I've been looking at possibly buying a laundromat near me, the ones that are 24h have an attendant at night between 11 and 7 and that is when they do their wash/dry/fold for the day

love this video more please :) DONT GIVE UP!!

Dude I found your channel randomly and I’m automatically obsessed!!

great content, keep it up!

Welcome back!!!

Thanks for showing us the money cost and made. means a lot to me.

OMG! KZfaq hasn't sent me any of Investment Joy's videos in years as I almost forgot I'm a long time subscriber. I have some catching up to do.

I like the breakdown of actual costs and income per day

As an aside, the washateria I used to use had the family running it do all the wash rags for the local car wash and detail shops after 10pm (10pm cut off for last wash) using quarters because they owned the process.

Put a good door closer on the door and add a system that allows them to enter by showing their driver's license, or using someone's remote to buzz them in, sorta like a electric door bell.

Something so satisfying about those delicious quarters!

You got me saying “delicious quarters” now lol

Without a head count, daytime hour versus overnight hours, it's nearly impossible to give you a good answer. An alternative is hiring a janitor that works late hours and can prevent issues. Good luck.

I don't understand how the money from the quarter machines gets counted as money earned. All the quarter machine is doing is taking that money and giving the person that amount in quarters. If I lived in the area and got $10 in quarters from your machine every day and then left to use it somewhere else, you're not making $70, you're just exchanging that $70 for quarters. The only money you're making is what is coming out of the washers, dryers, vending, and game machines. Unless there is something that I'm completely missing.

"...it's something else" winning smile.

OK, Big signs advertising 24/7 365 and have a sign inside warning this establishment is monitored with police response and a large badge of the local police. I look forward to expanding the laundromat blowing out that back wall to expand with more dryers and big washers, get rid of that old old washer, get rid of the office and put folding tables there so you can fill in the spots with washers and dryers. Improve road appeal and visibility so people think it is modern and safe, improve airflow and comfort and add some comfortable chairs away from the washers and dryers, you need more laundry carts and variety in the vending machines.

I thought about a laundry mat to make extra money but there are always a criminal element just waiting to do something.

I have seen a lot of people who are stealing and breaking into a lot of machines and stealing money. Target and Walmart had a lot of situations every year with shoplifters and employees stealing from the store.

I have the same issue. Takes a lot of energy to monitor cameras and most of my problems happen after 3am. Have considered closing but we get some big customers at night. I did install some sirens I can set off remotely. That usually runs them off pretty quick

Can you lease all the washers and dryers as well? I have a commercial unit I was thinking about turning into a laundromat but I don’t have all the capital to buy all the equipment. Also do you recommend gas powered dryers instead of electric?

Good video. Altough you're making great money, I'm sure you thought about closing at a certain time to keep the "riff raff" out from causing problems in your laundromat. My question is, what's stopping you from closing at, let's say 8pm Mon-Sun?

It goes to show when you have the right equipment that not old your going to do batter then when the equipment was outdated

Love the video!❤ Are you still looking to open up health clubs/ Gyms ???

Our local spot has a code on the door. And only gives it to trusted customers for late night washes

Heres a question, how do you differ from the quarters that are used for changed and quarters that are profit?

open from 6 am to 10 pm last wash, and eliminate all the problems.

Man the laundromat near my apartment complex got robbed luckily owner had insurance for the window damage

I’m building my credit at the moment but I’m planning on getting an SBA loan for $700,000 to put a % of that down on an existing laundromat business and I was wondering, Is there a way that I can hand the seller money through wire transfer or something instead of giving the money upfront in person??

I wish I had the money because I would buy that sucker in a heartbeat. If you were selling it, I have a place to live upstairs and a business downstairs.

Depends of 24/7 is costing you more than you make due to damages ,definitely need to keep your hand on your hip with people watching you 😉

Nice

If you blow the wall out. Put in more dryers. Put a coin machine that is serviced behind secure doors. So at 95 dollars would a security guard help.

Good evening, I own 4 businesses myself, one of which was passed down through my family. Ive learned amongst my many losses, that not all money, is good money. Some aren’t worth the peace it takes away. In this case, a laundromat business is a very small margin and revenue business, I applaud you for it because I surely don’t know your financial situation, but if possible either fix your business model and operating times, or just get rid of it. I understand how the world works, but having to protect drug addicts from robbing quarters out of my business, surely is not something anyone wants to do. God bless you.

Have you considered controlled access during over night hours like at an ATM booth? Swipe a credit card for entry?

Lots of criminal jerks in society that do nothing but cause trouble.

Incredible, i literally just finished watching all of you’re videos in order from old to new for the second time 🤣 fly me out first class and i’ll kneecap these kids for you mate 👍🏻🤌🏻❤️🇬🇧

I have an idea thats out there. Investment joy the videogame. In the game u fix a rundown laundromat and try to make it a running operation.

you should find someone who's willing to work as a bit of a security guard overnight depending on how much that would cost you

How much did you pay for the laundromat? And what fix gave you the higher equity?

You still never got the the footpath weeded and the facade of the building clean could potentially bring more people in cleaner outside more presentable

The only thing I think I would do differently if I owned it was to put Sol Ark 60 kw model Inverter Charge controllers times two specific model 60K-3P-480V on the laundry mat with two battery banks one for each solar charge controller specifically model L3-HV-60-KWH then use KB solar 450 watt Bifacial panels 144 specifically in a 24 by 6 tall in Parallel groups of 12 So that's 6 Strands per sol ark charge controller. The advantage of this is fixed rating your electricity costs for the future. Solar Ark 60 kw charge controller units are like 20k a piece the Battery Banks are like 30k a piece and the solar panels are 225 dollars a piece if bought in bulk. I get it your looking at a 140,000 dollars but with let's say an 800 dollar a month electric bill puts you at 76,800 every 8 years roughly. By installing electric hot water tanks with the gas tanks you can offset the cost of your gas as well and still revert back to the gas if needed. Long term the batteries are good for 8 years Sol Ark charge controllers are warrantied I believe up to 10 years. KB solar is manufactured here in the USA so its got a 12 year product guarantee and a 30-year performance guarantee. So sure at the moment it's about a wash for the price but if electricity costs go up past $0.30kwh your really going to want this kind of cost offset to be able to keep your priceses low enough but yet make better profit margins in the 10 year business span. Another add on you could do is twin 60 kw diesel generators and with sol ark they will auto start and stop to charge up the batteries allowing you to never rely on the grid. Basically they have their own control module that can measure the batteries etc. But this conversation is only about the future not necessarily for the right this second. I still hope that we will be building enough Nuclear Power plants to keep the grid price cheap enough for the future.

I keep feeling like count one or the other… if you want to know what your machines are doing, you need to scan those machines. If you only count coins into the bulk and the bills coming in, your limited. Ehhh, you WILL find a solution if you spend time thinking.

It's always so interesting to see how much those collections vary depending on the time of the year - wishing for a continuous growth over the rest of this year!

Brandon, with your current equipment varying in sizes in this location and your bigger capacity machines being the bigger money makers. Have you thought of just upgrading to the bigger machines across the board? Or do you think that would also cause people to not use them because they cost more per load?

I am curious on why you still use cash for your laundromat? Granted. I live in a country where more and more people are abandoning cash, and the volume of cash in circulation has fallen heavily over the last ten years compared with other countries. I have not seen a vending machines that accepts cash for quite a few years. So I might be the odd one here. But still. During my last trips to the US I never paid with cash in bars and supermarkets for instance.

How are things going on your other laundromat

You could hire private security guards for the nights

Seems like a lot of work and headaches to be netting $95 a day. I know there is good equity being made as well, but from a cashflow basis, seems tight. People say hire a guard, well that would eat up that $95 right there.

Damn i should start one nowni guess 😭

you should buy some more snacks for the vending machine

Did u find help in Chicago area I live in Rockford if that helps

You might wanna have a guard there at night if you want to stay open 24 hours a day take care of the riffraff because they’re always there. You try to do something nice for somebody and somebody else has screwed up.

I'm confused where the $15,000 number came from , in your title? I might have missed it, tried to find it. A $15k Laundromat would be super cheap

Do the banks take all those unrolled quarters, or do you have a machine that rolls them?

Nothing mean about it. It's a business. Our local 24 hour had the same problem, so they switched to 6am to 9pm, doors locked at 10pm.

How did you buy that for 15k? You bought it from someone else?

i think the weighing method for coins is way more efficient

Can you use credit cards?

With all of the criminal activity you showed in the security footage, I wouldn’t be open 24/7. It’s unfortunate, because there are shift workers out there who need clean clothes just like everyone else but have to wash at 2am because that’s the schedule they were dealt. It’s just too much of a liability in my opinion with all of the users and addicts squatting in there overnight.

Hey 👋

Put a camera right infront of the change machine

I say hire someone to babysit your laundromat so your customers feel safe.

This is one of the good things about Ohio. You can carry that thing in your pocket to defend yourself and your business, and without a permit like our founding fathers intended

Would hire if you have one in your age a security company do frequent patrols to your laundry facilities stays open 24/7

do you need permits/licenses to open a laundromat?

I live in Columbus ohio and i think i wanna get a laundromat one day. I'll be contacting u first to get ur insight

For the people that want to know he got robbed 7 times loosing 40,000 dollars in revenue

@investmentjoy I’d be very interested to see a breakdown of how much extra revenue you get by being open 24/7.

do weekends tend to be better then weekdays?

maybe hire a person to work overnight sounds like a easy choice but you don't want to pay a person

Maybe hire a trusted private security for those over night shifts? I say trusted cause most of the security places hire anyone that will wear a shirt and be a body. But that body is known to inform others about the business.

I guess the question comes down to: are you making enough overnight to justify the costs of staying open. Not just making profit, but *enough* profit to make it worth the headache

14 hour days.

I use a laudromat😊

puking out quarters..?

Are you making money overnight to make it worth staying open? It's probably not worth the stress in keeping it open overnight.

Maybe you could hire a security guard for the nights.

How many hours a week does this business require of your time?

How much money my laundromat launders. 😂

8 20 pound washers and only ONE 60? You're doing it wrong. Get rid of 4-5 of those 20 pounders and replace then with 2-3 more 60s. People need them for big blankets and things like that.

You're like mrbeast but you post videos about you earning your money🤑

im threw with this noncents good by

It’s bad enough that they sleep in there if they are homeless. But the alcohol and drugs is the part that’s just not right.