Hi, I'm Ken Barrett, I'm a former automotive worker now living in Alabama
For years I struggled to find a business that would let me leave the corporate world but not tie me down
Then I discovered the Coin Laundry Business
Now I have a chain of Laundromats that allow me the freedom to work the hours I choose and spend more time with my family.
If you would like more information about Laundromats keep reading and find out how you can do it too.
What Are The Benefits Of Owning A Laundromat?
It sounds great right?
Done correctly and with the right Due Diligence a Coin Laundry could be the key to your future. But there are many items to consider and you need to have the right education and information.
When was the last time you were in a Laundromat? What was it like?
If you are like many people Laundromats bring back memories of college and some old, dingy Laundromat with wood paneling and dusty plastic plants.
The New Coin Laundry Industry is:
Bright, Clean Stores.
New, Energy Efficient Equipment.
Big, Clear Windows
TV's Free WiFi Kids Play Areas.
But how do you get from where you are to owning your first Coin Laundry?
Simple, Find somebody that is successful at what they do and use their system and experience.
I opened my first Laundromat in 2010 after almost a year of research, discussions, business plans, searching locations and distributors. Once I got through all of that things began to happen quickly. From Building Permit to Open in 2 months.
I purchased my second store 2 months later and the third store 3 months after that.
So How Did I Get Here?
In 2009 I was "downsized" from the Auto Industry. I was moving to another area to start over and I did not want my future to be based on a decision of someone else. I decided to investigate the Coin Laundry Industry. I found a Mentor that was willing to work with me through my journey. He had been in the laundry and appliance business his entire life. His knowledge of equipment, repairs and operation was very detailed. One item I found missing for a new investor was the business plan and documents needed to understand the financial part of the business and provide information to the lenders.
This is also a crucial part to understand that this is a business. There is a lot of capital investment, whether your own cash, financing or a combination and taking the time to prepare the documents may make the difference between a profitable, long term investment and a a financial crisis.
During my search for more details I found many business plans and other documents that were very generic and did not have the details I was looking for. Some I found even had calculation errors.
At the time I was investigating my first Laundromat and the Industry it was my full time occupation. I was able to spend hours working on plans and data, time that most people don't have when they are first looking into the Coin Laundry Industry. I would guess that you are either already running a business and looking at other opportunities or you have full time job and are interested in the flexibility of being a Laundromat Owner and being paid while people do their own work in your stores.
You want to own a Laundromat but don’t know where to start.
This book is the first in a Series that covers the basics of a Laundromat to help you develop a better understanding of the dynamics of store setup and operation.
Clear explanations of industry terms and examples from actual stores provide a solid foundation to start your own Coin Laundry business.
The Coin Laundry Association is a great resource for information.