Want to buy a laundromat but nervous of the risk? Follow along as Jason Worme details how he analyzes a potential location to mediate risk and determine an offer that will guarantee a successful profit margin. In this interview with Dave & Carla Menz, Jason shares his story of coming to America and how he continues to grow a successful laundromat business in New York.
Referenced Links:
Coin Laundry Association’s WDF 2023 (use code LM100): www.coinlaundry.org/wdf-2023
Laundromat Millionaire’s WDF/PUD Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Our Guest’s website: www.starlaundromats.com
Our Guest’s email: jason@starlaundromats.com
Our Guest’s facebook: https://www.facebook.com/jason.worme
Our Website: www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: www.queencitylaundry.com
Our pick-up and delivery laundry services: www.queencitylaundry.com/delivery
LaundroBoost Website: www.laundroboostmarketing.com
H-M Company Drain Troughs: www.draintroughs.com
LaundroWorks Card System: https://laundroworks.com
Cents POS System: www.trycents.com
Timestamps
00:00 Laundromat Millionaire Intro
00:46 Attendance at Our WDF/PUD Workshop
03:13 Jason’s Backstory – Coming to America
07:37 Risk and Cost Management Experience
14:02 Why Laundromats?
16:25 Already Expanding to 2nd Location
16:43 Analyzing Potential Purchases – Evaluating Laundromats for Sale
22:49 How Jason Calculated His Offer
28:22 How to Verify Seller’s Data is Correct
36:19 Should the Lack of Financial Information Prohibit a Purchase
43:54 Describing the Store
47:07 Planning Ahead for New Competition
49:35 Two Price Points for Drop-Off Services
51:43 Adding Wash-N-Go Service
55:07 Why Knowing Costs is Important
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