Start the new one. Not only just in the upside of higher actual income from the new laundromat, but the increased content that could come from it for your social media business. It seems like a win win.

You should keep it! It will be better down the road! If you cash out now, you won’t maximize your potential to get the fullest amount back, and only by keeping it to pay everything off, then be debt free, it would be a better option to your interest to sell afterwards! You could have more money invested into your next project build, and worry less about the whole process!🙌

The transparency on this channel is amazing. You’re one of my favorite business channels because of it. Keep up the great work. Also, my opinion, keep the laundromat. The expansion process will also be a big success for your channel because it will bring in another type of KZfaq crowd ( construction video subscribers). Good luck!

We really need Danny D'Angelo's reaction to this... I`ll get the popcorn 😆😆😆

If you want to expand without debt you can either take on an equity partner or Jut break the expansion into smaller projects and pay cash as you go. Celan up the space, run utilities, finish the space, add equipment as cashflow allows. Would be an interesting journey to watch. Once you have that done use the Dave Ramsey debt snowball to pay down the other debt on the facility. Cashflow is not what you bring in but what you keep.

Thanks for posting your videos Brandon, I enjoy watching them. Laundromats are pretty much non-existent where I live (Sweden). Much due to the fact that most apartment buildings have a communal laundry room with washers, tumble dryers, drying rooms/cabinets, and instructions on how to use them. As far as I know there is only one (1) laundromat in central Stockholm, mainly used by travellers. Maybe you should start a branch overseas :) Take care.

Expand or die. Less locations, more machines, more commercial opportunity. Either way you run into the risk/reward scenario and the absolute nightmare that can local and federal ordinances/permitting of a facility that works with hazardous material, BUT modern laundry facilities that use card based systems are everywhere and the tech can be easily purchased. I’ve personally stuck with retail commercial and rental property, but you are an amazing content creator and businessman!

Well good luck in working on expansion. I might have some ideas.

Very good put together video bro!!

Hey. Nice Video!

Keep it. It's a money maker. It's one of your good income streams. It helps people who need the laundromate. If you sell it, the other person could destroy it by changing things.

Glad your back posting! I missed u

Keep it. And keep fixing it up like you have been

Keep it. You are on track to have the money on hand in a couple years to build without financing.

I feel the same about loans as you do...I only have a mortgage payment , low, so that if anything happens I could pay my monthly on unemployment or now with my little retirement.

Awesome video Brandon

Im subscribing

Planned expansion od the existing place is the answer. For example, moving the stuff including the "office" downstairs free up space upstairs and expand. over the next 12 months. no rush.

yes I so want to do my own laundromat business that be so cool :) I saw one in ny for $200,000 it has alot washing machines and dryers.

I need to get into this

The laundrymat in my town sutherland nebraska is cheap and rundown

Take out a loan to do the expansion, then refinance the entire business in a DSCR type loan where the loan is in the name of the business. This is a realestate move and I'm not sure it directly applies to your situation. However, a single loan would help you save in interest. I bet your combined interest payments are massive compared to what they would be if combined.

Sell it and start a new (a community poll next time would help too) Great channel and congrats on this successful laundromat location BTW.

So instead of just going all in based on just a yes or not from viewers, how about fielding the cost/benefit analysis everyone submits. Here's my two cents on this. 1. You basically built this business, not quite from zero but pretty low. I can tell that some part of you is proud to have done this, and for many people it's hard to let go. You might end of regretting it. 2. It's a lot of risk to build out this place to be bigger. You know what's an even BIGGER risk? Opening a giant new location. 3. If you're wanting to have multiple locations, you're kind of going against what you were going for in the first place. You need to pick either multiple locations or one big one. 4. You now have a PROVEN business that works. It just needs some extra investment into it. You know what works and what doesn't in this business. Open a new place and you have a whole new set of problems. Something that you might not want if you are as risk adverse as you say you are. 5. This channel was built upon this laundromat. Yeah, many people SAY they'll stay with the NEW laundromat, but do you know that to be true? There's something to be said about having somewhat of an underdog story to your channel. 6. This place could be generating revenue WHILE you open another location (whether it's the BIG ONE or another small one), helping to offset the balance. There's other things I could probably imagine up later, but I thought these were some decent points.

It's up to you

Add bigger front loaders.

Man i understand your pain brother I am in shock and aww at the amount i would have to spend to get the new dexter equipment not sure how i want to proceed yet.

I would say the internet loves big risk and seeing if you’re going to make it or not. I would say expand locally first. It’s your iconic spot and your still earning a profit now. (Though part-of me says arrows to the moon). Good luck sir

Wondering. We do a lot of revenue at our laundromat and seem to always be upside down with our bill collector and quarters being recycled. Meaning we have thousands of dollars in excess quarters every month. What do you do with extra quarts that don’t fit in the bill breaker machine ?

Take option 1 keep the current location

Well sometimes you can be greedy and set the next guy up for failure. I don’t think I would buy commercial anything at this point unless I could convert offices to apartments. Thinking in two years office space will be cheap enough.

Gotta be the new one. That would be insane to watch you build and grow.

Man, i wish you were my mentor/potential investor.

I'm thinking about buying a couple of vending machines to put around where I live, do you have any tips/recommendations that I could use?

I would keep what you have unless it is losing money, pay it off asap and then move on to the next asset.

I love the video Evan hart 1:16

Very very nice video

Keep it man and leverage if possible

go with the new million dollar laundromat as anyway you look at it you're going to end up spending around a million on this laundromat with the extension that's needed, all the new equipment that comes with the expansion and the contractors if you need to do anything to the actual building

Thought about renting out the garage as a storage area?

Keep the laundromat that's the only reason why I subscribe to your channel that's the only reason I subscribe

I love watching your money counter... I'm weird. Haven't watched one of your videos in a long time... but I watch your machine and think abou how at the bank I used to work at, we would iron the money with a hair flat iron to make it flat and pretty to go in the ATM. It was kind of... cathartic. I still want to iron money sometimes. I also want to launder money. Like, legit, put the bills in the washing machine...

I dont think having a new laundromat is good or bad. you have to consider if the location for a laundromat is the hot spot for that. Make it very close to the center of the towns and citys, if you actually buy a new place to invest.

Do you have drop off service? Or maybe even pickup service? You can install some additional machines in one of the back rooms to facilitate that, and hire someone to do laundry for lazy/busy people for some extra cash

Did you ever get the front door window fixed

Keep it please

keep it enlarge it go build the new one !!! what would Danny DO ???

Keep it Add on if possible

Sometimes you have to make the leap.

I say keep the Laundromat and listen to your mentor even watch your own videos. Expand it. Get core samples on the soil for that building. It might be a money pit. EIS statements? To many variables. Also invite gate City draining and foundation to come by and check your basement. He's on you tube. From SC. More dryers. Less expense.

I would suggest play it safe for now. Installore machines, and use this place to its fullest potential. And then later on yiu can switch it to a better location. In meantime you can also advertise yourself and expand your business by increasing your reach to more customers. I mean just my opinion but i guess you know your business best.

I would like to know your opinion if laundromats for apartment complexes are profitable?

keep it

Hello everyone! I am shopping around for vending machines and the biggest obstacle i have had with my numbers is accounting for the insurance on the equipment. Does anyone have suggestions on what type of coverage i will need and insurance companies that have worked well for you and your vending business? No employees yet, only insurance on the equipment. Any information is good information, thanks!

I say keep the laundromat, if you havent sold yet, for about 3 more years at least and by then you should be sble to get a better offer for it

Keep it!!!!

DO NOT SELL. BAD DEAL.

I say keep it and make it more profitable by partnering up with a coin collector or an influencer who is knowledgeable with collectable coins or cash and see if you guys can come to an agreement so when he finds that Million dollar pennie you guys can both profit from it. That's what I would do lol. You could be holding on to a $5 bill that could be worth thousands

I’d ask for a little more but i dont see any issue either way, it’s a hard decision but if they offer more money i reckon any problems can be smoothed aha

Just curious, what's on the second floor of the building? Is that the office up there or something else?

Sell and use the profit to build a new one. It will bring in more views, which brings in the real money.

I've been watching your laundromat videos because I saw you had said something like "would you come and run my laundromat for a day". I had said I would if I lived up in Ohio, because I live in Florida. I want to open a laundromat here in my area, but I don't know what I need to do first and what I need to research. So, my question is I went to LegalZoom and it gave me three types of business information. 1. corporation, 2. DBA and 3. LLC. Which one is the right one for me to figure out how to start a business name and legal entity, I guess. I'm thinking it's an LLC due to it being the simplest way of structuring your business to protect personal assets. And last thing. I thought I saw a message from you about a business, but I'm not sure because I can't find it anymore. Any help to give would be greatly appreciated. Thank you.

I'm in the appliance refurb business and I follow your brother Ben from Ben's Appliances. Are you sure there's no way to convert a residential laundry machine into a coin op? I know it wouldn't look as clean as those beautiful stainless units you have, but people throw away soo many working units every day... I feel like with a bit of creativity there may be a solution here way under $150,000. Idk

How much does your water and electricity bill eat into your profits? Or better question, what is the average bills?

Keep the laundromat. Let it appreciate much more and grow that particular location.

People would buy a laundromat for 6x revenue... that's literally how you calculate the value of the business lol. 5x revenue, plus assets, minus liabilities. If you don't have a lot of debt, 6x revenue can be pretty reasonable...

What about a business for renting out washing maschines and dryers pay per month ?

You could put a few Arcade in the hidden Rooms like in Arcade Paradise 🤣

KEEP IT! its your baby!

Just keep the 1 that you have. U can invest into your business instead and avoid the million dollar purchase & all of the associated headaches & risk.

Tell us more about the laundromat build out and what state it's in. Also wondering if you've made videos on investing in laundromats from out of state. Currently live in canada and would like to invest In car wash / laundromat in Michigan or Ohio

All Stores Please Lower the price of all Military and Local for all Brands of Coin Laundry Products and Accessories and Production Cost Now That's too much $$ The Whole World Now 🙏🙏🙏

How much and start a new one

Hi I'm 13 years old I was wondering how to buy a laundry mat can you give me some tips.

I want to open a laundormat where my dad has a comercial space empty so i need to ask him for help to help me convert the space that is registered legaly as restaurant and turn it into a laudormat.

I tried clicking on your links, its said they moved.

Keep it

Just keep it

If you have that much money left over after selling the laundermat then apply for a fah loan and used that money for multiple down payments

What hard money lenders did you use?

i would stay right were i am.

I'm confused... in the middle of the video, you said $205k of revenue, but at the end you said $203k profit. Did I miss something?

I would say just just remodeled existing laundromat

Keep

keep the current one

Hello, schockergd 😉

Any advice on how to keep the homeless from stealing the roll around baskets?

these videos keep my interest throughout the whole video?

id say keep it better safe then sorry later

Not sale this is a good location

Not a good time to be borrowing! Maximize your space build wash and fold .

How do you get a vending machine?

Only sell it if theres a bigger better one lined up. i oddly enjoy watching these

Let’s say I can take over a laundromat for just taking over a long term lease, how much pocket money should one have to operate.

Don’t kill the golden goose

GIVE THE MAN SOME CLAPS JEEZ

It's 2023. You need to start accepting credit cards with a card system. It's more convenient for your customers and it reduces the risk of theft. Besides, while you may bitch about transaction fees, handling all of those quarters ain't cheap. If I were local government, I would audit ALL coin operated laundromats. The opportunities for tax fraud in cash only businesses are too great to ignore.

I’m not sure what he did, but he should’ve started with a new one take the risk a lot of times it’s worth the risk

KEEP IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I wouldnt tbh