How Much Does My $15,000 Laundromat Make a Week?

[@pinba11freak]

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

[@InvestmentJoy]

Awesome! Great news is my team is working on the next video right now.

[@leighmonty13]

Me to need more

[@neessanmackay9564]

​@@InvestmentJoy Are you fulfilled by the achievements and would you put an upgrading of some of your facility as a goal in order to increase the income?

[@EnlistedBombin]

Stope hes a a crook he took millions of bitcoin to start this buisness just look up rental starter FBI was notified today... TAKE ALL HIS STUFF

[@CHAOS88100]

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.

[@InvestmentJoy]

I'm in Southern Ohio and generally speaking our utility costs are severely low compared to many other areas of the United States

[@QB-ul5lq]

@@InvestmentJoy🎉

[@ClawManiaVending]

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.

[@1776huckleberry]

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

[@savvydirtfarmer]

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.

[@InvestmentJoy]

We have a ton being edited right now

[@Mr.Laundromat]

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

[@InvestmentJoy]

Thanks, you too!

[@frankflores1557]

“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 😭

[@InvestmentJoy]

I find as I speak my mind without fears of demonetization people tend to have more sympathy for me

[@tudor8963]

@@InvestmentJoy real men have the balls to protect their business and family. I applaud you for that!

[@BradSabako]

Glad you're being tough with these bums!

[@Talis116]

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

[@InvestmentJoy]

Those ones tend to have the absolute best operation model

[@patrickmcegan7189]

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

[@moonmomma3565]

Brandon Youve done great at fixing it up I know this Mar well Used it several times myself! Nice to see how good it's looking now.

[@-REMOwilliams]

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

[@InvestmentJoy]

More of those soon

[@davidlampe4153]

Derrick with 2 R’s KZbin 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.

[@ElijahPerrin80]

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.

[@Blainerowe3]

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

[@InvestmentJoy]

:D

[@dewe6037]

liked the editing, very informative

[@saleen367]

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

[@InvestmentJoy]

Thank you! You too!

[@Ryleerex]

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

[@InvestmentJoy]

Awesome!

[@Ryleerex]

@@InvestmentJoy omg you replied I’m a huge fan!

[@paintballrealtree]

I like the breakdown of actual costs and income per day

[@coreydennison2392]

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

[@dancingwithwolves.9631]

First video I have watched in a long time. Thanks

[@mscherri99]

great content, keep it up!

[@InvestmentJoy]

Thanks for watching!

[@MikeD87916]

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.

[@James_Snell]

You sir are 100% correct. This is called double counting and is misleading as that over inflates the revenue. I’m sure his accountant fixes that before he pays tax on that “revenue”. KZbin is full of gullible people…

[@gersitz]

Welcome back!!!

[@InvestmentJoy]

Thx

[@johnrider7826]

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.

[@adamk3993]

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

[@jasonfournier]

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.

[@michaelb.8953]

OMG! KZbin 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.

[@kenfromsilverdale5675]

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.

[@gabrielcriales9509]

put an alarm and conect it to to an smart switch so you can remote activate it, there are also some cameras that have integrated alarms and emergency lights, it may help you scare away some unwanted guesst

[@MattAtwoodvideos]

Love the music of the coins!!

[@robertromero8094]

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

[@cripz1436]

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

[@YoelHernandezFresno]

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.

[@InvestmentJoy]

You have to understand I'm at a point my other companies make way more money than this does but this is really great for social media. I really am at a point I want to show the country what it's like to run a business

[@goneutt]

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.

[@johnrivas4469]

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.

[@shawnl9156]

Hi! I live in an apartment with no washer and dryer in Circleville, Ohio. So, I am a laundromat user. We have one very nice laundromat which is not always open when I need it and one laundromat that is open 24/7, but has definitely seen better days. Not very pleasant. Hoping that somebody will come to town and open another just to give us another option.

[@InvestmentJoy]

Which apartment complex is it?

[@joeypomeroy7819]

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

[@James_Snell]

Answer: the paper money in the change machine is not profit. You put in $1 paper money and get 4 quarters… this is called double counting and is incorrect, misleading, etc.

[@scottsenia]

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

[@InvestmentJoy]

I've got a solid solution to this, I'll be posting when it's done, so be on the look out

[@rogerstaum9180]

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

[@AshlynnBoston-s1k]

I like collection videos!

[@kafercj]

How about use some card/cash machine in order to open the door at night... some banks in my area let u use their atm's at night after reading your card... that could lower your overnight problems...

[@mr.millionaire4570]

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??

[@InvestmentJoy]

That's the normal process of doing it by wire, Otherwise you could run into significant trouble

[@bintlooda]

I came here from romans video. Great work

[@coolassclay]

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?

[@InvestmentJoy]

Drops income 50%+

[@ricoconti3141]

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

[@InvestmentJoy]

I'm still talking about it with my friend Eddie that was in videos years ago it's just we have not got to a point I would say coronavirus is slow down my business plans by a couple years

[@ricoconti3141]

@InvestmentJoy Yes Corona has set back many people's plans. I've been looking and seen a few prospects around the columbus area that look promising. If interested in talking more I can shoot you my email.

[@tdadp]

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

[@KiIlabeez]

You got me saying “delicious quarters” now lol

[@InvestmentJoy]

Glad I could influence you

[@LorenTedford]

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.

[@InvestmentJoy]

I'm not opposed to solar, would be opposed to a battery system, won't ever pay itself vs a grid tie

[@LorenTedford]

@InvestmentJoy yeah, bateries are expensive.. But the numbers really make it difficult for both selling back to the grid and taking advantage of the panels abilities..

[@LorenTedford]

@InvestmentJoy to be honest, I am still hopeful that nuclear power facilities will help before we get to this...

[@darktoadone5068]

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

[@AsoftDolphinn]

id stick with it but id address this ladies review on your google "Only 24-hour laundromat around. Reasonably priced but it's going downhill fast. It also has an ATM which I find useful. They advertise wifi but there's no password to be had. No maintenance or cleaning is being done. There's only 1 super-sized washer and it's been down for at least 6 months or more. The place and machines need a really good cleaning. Don't leave any food or drinks unattended, especially at night. Have seen multiple roaches. Also, the fact there's zero access to a restroom, sink, paper towels clean-up supplies, and more is very inconvenient. The gravel parking lot around the back is a long walk carrying laundry and there are big holes everywhere."

[@deedsnotwords5945]

You need to add $420 to collection 3 because your last bill count you ran through as $10’s and they were $20’s.

[@KoryTrosclair]

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

[@marksokolski3517]

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?

[@InvestmentJoy]

I would like to but the infrastructure is becoming an issue you'll watch in the next video some more issues with having that big washer there. Right now I'm looking at doing another reset of the laundromat

[@marksokolski3517]

@@InvestmentJoy reset meaning a different layout?

[@jeanlujan6129]

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.

[@tucobenedicto109]

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.

[@paintballrealtree]

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

[@conrump]

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?

[@DavidTheBulldog]

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.

[@InvestmentJoy]

Not a a bad idea. Expansion pack 1&2 - car washes and vending machines

[@henryg8695]

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

[@jeanlujan6129]

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.

[@goneutt]

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.

[@per-olamjomark7452]

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.

[@w26gt]

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

[@WaleedCope]

Great point. One of the advantages of having a card system. You can use them to control access.

[@golfinger7530]

Is it really worth having the laundromat? I mean yes its passive income but with all the things you have to deal with. In your budgeting it was mianly fixed costs, more expencive things can pop up (forshadowing) overall di you have a total profit margine for sometime of a year or so. I find it interesting owning one and want to know more

[@aleax5670]

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

[@TheJeracuda]

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

[@InvestmentJoy]

I think I do the financial breakdown of such Adventure in the next laundromat update which should be about a month from now we've already shot it it's just the wait for the editor

[@ythompy]

At 10:04 you counted a stack of $20's but the machine read them as $10, meaning collection #3 was actually $2,763!!!

[@leighmonty13]

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 😉

[@vichikakry9924]

Lets add more locations!

[@CppObjectOrientedProgrammer]

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

[@InvestmentJoy]

It was $15k down

[@CppObjectOrientedProgrammer]

@@InvestmentJoy Oh nice!

[@BrendaBodwin]

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.

[@BroiledSourGrapes]

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.

[@milkisblueberries]

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!

[@InvestmentJoy]

Thank you for the kind words and for supporting the channel

[@thpiii5084]

You don’t count the quarters as profit . The only quarters counted would be the extra after refilling the changers to the demarcation line. Bills are your only income unless people are stealing quarters. 40 years in laundry business

[@James_Snell]

From an accounting standpoint, the paper money in the change machine is not profit. You put in $1 paper money and get 4 quarters… this is called double counting and is incorrect, misleading, etc. The true revenue is the actual quarters in the washers/dryers. Imagine if someone came in with a $10 bill and made change (40 quarters) and then left… did he make $10?

[@thpiii5084]

@@James_Snellthe way I explained this is the way to count money made in a set amount of time. Coin changers hold a set amount of quarters. Our machines hold 400 dollars worth, our deposits run every 10 days. For 10 days we remove coins from coin boxes to keep changer full. At the 10 day point, refill changer to set point, remove all bills and extra quarters from machines. Count your money, this is gross profit for 10 days . Do this 3 times a month, pay your bills, get your net profit for the month. 40+ plus years of doing this.

[@harrynelson9203]

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 👍🏻🤌🏻❤️🇬🇧

[@shadowstopmotion892]

How much is the utility bills like electricity and plumbing?

[@KasparrTV]

Don’t let that sweet face fool ya, he got that thang on him lmaoo

[@daxisperry7644]

Would it be worth it to hire an employee overnight? I’d imagine that would dissuade people from doing dumb stuff. I could be wrong.

[@James_Snell]

From an accounting standpoint, the paper money in the change machine is not profit. You put in $1 paper money and get 4 quarters… this is called double counting and is incorrect, misleading, etc. The true revenue is the actual quarters in the washers/dryers. Imagine if someone came in with a $10 bill and made change (40 quarters) and then left… did he make $10?

[@Bobby-r9k]

I say stay open till 10 pm with a staff member then 24 hour's

[@BuceGar]

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

[@InvestmentJoy]

I work with both

[@kurts6741]

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

[@Hopper_House]

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

[@michaelreilly569]

Do you check for rare coins and bills, or is it not worth the time?

[@Maurandhermutt]

You could hire private security guards for the nights

[@jimmyssnowremoval1075]

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

[@InvestmentJoy]

Nope, would make me bankrupt

[@icedog1123]

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

[@ariownts123]

i think the weighing method for coins is way more efficient

[@Fortnite_godz1]

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

[@B0H0]

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.

[@Wadley225]

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.

[@InvestmentJoy]

I think I go into better detail on the next video but this is what the manufacturer told me was needed and this was 4 years ago and I felt like I could trust them I have since learned not to trust them

[@mattk8810]

Put a camera right infront of the change machine

[@SimmyFilmedit]

How many washers and dryers do you have?

[@27Killermike]

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

[@Worldgold633]

How are things going on your other laundromat

[@GabrielMendoza-bu5uu]

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

[@deanayer3822]

You need to collect all the money every day at the time you would close and then again in the morning at the time you would open to see what the overnight is doing for you. You may just be getting more daytime traffic growth and just a trickle at night along with a bunch of trouble.

[@bashclassof04]

do weekends tend to be better then weekdays?

[@InvestmentJoy]

Yep

[@askrhonnie6356]

If this is the business, I’ll pass. But if I could own one that uses prepaid cards, has an attendant on duty, in a decent area with enough traffic that someone won’t f around. Then it’s worth it.