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Laundromat Ownership Step-by-Step

Joseph H.

This course is ideal for laundromat owners and anyone considering buying a laundromat. It summarizes the process of buying a laundromat and it lists the operating expenses that the seller is not telling you about. It is a valuable guide that explains how to operate and grow your laundromat. This course can be great for motivating a business partner, convincing a skeptical family member and educating yourself on the pros and cons of laundromat ownership. It is my expectation that this education will be of great value to you. It is taught in a clear and concise manner that includes many easy-to-understand examples of how to be successful in the laundromat business. The goal of this course is to greatly increase your knowledge and help you develop your own strategy for success. I own two coin-operated laundromats that I have had for several years, and I have experience operating them as both semi-passive income and hands-on management. It’s not that hard, and I expect this course to be a great help to you.

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What's inside

Learning objective

This course teaches how to operate a successful laundromat business. the objective is to give you a thorough understanding of day-to-day laundromat operations, as well as, the ability to evaluate, buy and grow your own laundromat business.

Syllabus

Keeping Track of Growth
Introduction: Laundromat Ownership Step-by-Step
Buying a Laundromat
Buying Existing Laundromat vs Building from Scratch
Read more
Using a Broker vs. For-Sale-By-Owner
Profit: Loan vs. Paying Cash
Example: For Sale By Owner
Example: Income & Expense List
Example: Rising Costs, Hidden Expenses
Verifying Income and Expenses
A Deeper Look at the Laundromat
Lease Contract
How to Start
Operating Your Laundromat
Work Required
Cleaning
Customer Service, Repairs, Management, Growth
Your Competition
Passive Income vs. Owner Operated
Growing Your Laundromat
Washers, Dryers, Furniture, Carts
Vending Machines
Fluff & Fold
Customer Convenience
Customer Service
Advertising
Example: Advertising Flyers
Strategies for Growth Summary
Maximizing Profit
Decrease Repair Costs
Efficient Use of Space
Increase Your Prices
Keeping Track of Profit
Planning Future Growth

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Summarizes the process of buying a laundromat, which can be valuable for those looking to enter the industry
Lists operating expenses that sellers may not disclose, which helps learners make informed decisions
Explores strategies for growth, such as advertising and maximizing profit, which can help owners improve their business
Examines the pros and cons of laundromat ownership, which helps learners understand the realities of the business
Discusses the difference between passive income and owner-operated laundromats, which helps owners choose the right approach
Requires learners to develop their own strategy for success, which may be challenging for those seeking a plug-and-play solution

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Laundromat Ownership Step-by-Step with these activities:
Review Basic Accounting Principles
Refresh your understanding of basic accounting principles to better track profit and loss in your laundromat business.
Show steps
  • Review key accounting terms.
  • Practice creating a simple income statement.
  • Familiarize yourself with balance sheets.
Read 'Start Your Own Laundry Business'
Learn the basics of starting and running a laundry business.
View Putting Knowledge to Work on Amazon
Show steps
  • Read the book and take notes on key concepts.
  • Identify areas in your laundromat that can be improved.
  • Develop a plan to implement those improvements.
Read 'The E-Myth Revisited'
Learn how to systematize your laundromat business to achieve passive income and scale operations.
View The E-Myth Pest Control Business: Why Most Pest... on Amazon
Show steps
  • Read the book and take notes on key concepts.
  • Identify areas in your laundromat that can be systematized.
  • Develop standard operating procedures for those areas.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Create a Laundromat Business Plan
Develop a comprehensive business plan to guide your laundromat operations and future growth.
Show steps
  • Research the laundromat market in your area.
  • Define your target customer and value proposition.
  • Outline your marketing and sales strategies.
  • Project your financial performance and funding needs.
Design Advertising Flyers
Create visually appealing and informative flyers to attract new customers to your laundromat.
Show steps
  • Identify key features and benefits to highlight.
  • Choose a design template and layout.
  • Write compelling copy and include a call to action.
  • Distribute flyers in your local community.
Calculate ROI on Equipment Upgrades
Practice calculating the return on investment for different equipment upgrades to make informed decisions.
Show steps
  • Research the cost and benefits of various upgrades.
  • Estimate the increase in revenue and decrease in expenses.
  • Calculate the payback period and ROI.
Create a Preventative Maintenance Schedule
Develop a schedule for regular maintenance tasks to minimize downtime and extend the life of your equipment.
Show steps
  • List all equipment requiring maintenance.
  • Determine the frequency of each maintenance task.
  • Assign responsibility for each task.
  • Track completed maintenance and adjust schedule as needed.

Career center

Learners who complete Laundromat Ownership Step-by-Step will develop knowledge and skills that may be useful to these careers:
Business Owner
A business owner is responsible for the overall success of their business, and this role requires a deep understanding of all facets of operations, including finances, marketing, and customer service. The 'Laundromat Ownership Step-by-Step' course directly addresses the intricacies of owning a laundromat, and it provides a foundational knowledge of these areas. The course's focus on evaluating, buying, operating, and growing a laundromat can be broadly applied to other businesses. A prospective business owner will find the guidance on expenses, profit maximization, and growth strategies especially useful to building a sustainable business model. Learning from the instructor's experience with owning two laundromats can be valuable to navigating the challenges of business ownership.
See salaries and explore the career path for Business Owner
Laundromat Manager
A laundromat manager oversees the day-to-day operations of a laundromat, ensuring smooth functioning, customer satisfaction, and profitability. The 'Laundromat Ownership Step-by-Step' course is directly relevant to this role, covering essential topics such as daily operations, cleaning, customer service, and repairs. A laundromat manager should be able to manage employees and the course's emphasis on operational efficiency, managing costs, and driving growth provides a strong understanding of these areas. The practical examples discussed in the course can be used by a laundromat manager to improve processes, enhance customer experience, and increase revenue. A prospective laundromat manager will find the course invaluable to leading and growing a business.
See salaries and explore the career path for Laundromat Manager
Real Estate Investor
A real estate investor seeks to acquire and manage properties to generate income and capital appreciation. While this role may encompass various types of real estate, this course, 'Laundromat Ownership Step-by-Step', provides specific insights into the operational and financial aspects of owning a laundromat, which can be viewed as a specialized type of real estate investment. A real estate investor should recognize the potential returns of a laundromat investment, and they will find the sections on evaluating a business, understanding expenses, and optimizing income highly relevant. The course’s breakdown of different options to purchase a laundromat, such as using a broker or buying directly, will be relevant to a real estate investor. Learning how to analyze a potential acquisition is a must for a real estate investor.
See salaries and explore the career path for Real Estate Investor
General Manager
A general manager oversees all aspects of a business or organization. The 'Laundromat Ownership Step-by-Step' course offers a detailed look at how a laundromat operates, which can be applied to a variety of business situations. A general manager may need to manage a variety of types of businesses and an understanding of the operations of a laundromat could be useful. The sections of this course on managing, growing and maximizing the profits are relevant to a general manager. A general manager would benefit from the course's focus on practical aspects of running a business.
See salaries and explore the career path for General Manager
Small Business Consultant
A small business consultant advises small business owners on how to improve their operations, increase their profitability, and grow their business. The 'Laundromat Ownership Step-by-Step' course provides a detailed understanding of a specific type of small business. A consultant would find this course useful to understand the intricacies of the laundromat business and how they might be applied to other businesses. A small business consultant will find the analysis of expenses, profits, and growth strategies covered in the course useful. They may need to provide advice to clients in the laundromat space and this course would give them a better foundation to do so.
See salaries and explore the career path for Small Business Consultant
Operations Manager
An operations manager is responsible for overseeing the daily activities of a business, ensuring efficiency and smooth workflows. The 'Laundromat Ownership Step-by-Step' course provides a detailed look at the operational aspects of running a laundromat, making it a beneficial option for an operations manager. This course discusses many aspects of operations, such as cleaning, customer service, repairs, and inventory management which overlap with the responsibilities of an operations manager. The course’s guidance on optimizing space, reducing costs, and developing strategies for growth can be applied to improve overall business operations. This course provides an excellent basis for developing a well-rounded approach to operations.
See salaries and explore the career path for Operations Manager
Commercial Property Manager
A commercial property manager oversees the maintenance and operations of commercial properties, which can include laundromats. The 'Laundromat Ownership Step-by-Step' course helps a commercial property manager understand the specific needs and challenges of a laundromat. The course’s comprehensive overview of the many aspects of laundromat operation, from cleaning and maintenance to customer service and growth, allows a commercial property manager to make better informed decisions. A commercial property manager will find the details about equipment, repairs, and optimizing the space relevant. A deeper understanding of the financial side of the business, as taught in this course, will be beneficial overall.
See salaries and explore the career path for Commercial Property Manager
Franchise Owner
A franchise owner purchases the rights to operate a business under an established brand. While this course is focused specifically on laundromats, the 'Laundromat Ownership Step-by-Step' course covers a range of topics that are applicable to other types of franchises, including business operations, financial management, and customer service. A franchise owner will find the information in this course useful to assessing the business, and they benefit from the details of establishing and growing a business. The course’s focus on practical aspects, such as managing expenses, finding cost savings, and improving revenue, help a franchise owner maximize their potential. Many of the issues in owning a laundromat are also relevant to owning other types of franchises.
See salaries and explore the career path for Franchise Owner
Start-up Founder
A startup founder creates and launches a new business, navigating all aspects of operations from the initial idea to scaling. While the 'Laundromat Ownership Step-by-Step' course is specific to that industry, it provides a solid foundation in the fundamentals of business ownership which are relevant to any startup. A startup founder will find value in the course’s sections on evaluating a business opportunity, managing finances, and developing strategies for growth. The practical examples of operating a successful laundromat will help a startup founder understand the business process and operational challenges. The course provides the basis of what it takes to operate a business and that knowledge is useful to a startup founder.
See salaries and explore the career path for Start-up Founder
Equipment Sales Representative
An equipment sales representative sells various types of machinery and equipment to businesses, and they may specialize in equipment for a specific industry. For a sales representative who focuses on laundromat equipment, this course, 'Laundromat Ownership Step-by-Step', will be very beneficial. It provides in-depth knowledge of laundromat operations, which is vital for understanding the needs of customers who run laundromats. An equipment sales representative should know the various types of washers, dryers, and other equipment, and they will gain more of an understanding by taking this course. This course would be helpful to a sales representative to better engage with their customers, providing a better service.
See salaries and explore the career path for Equipment Sales Representative
Retail Manager
A retail manager oversees the operations of a retail store, focusing on customer service, inventory management, and sales. Although a laundromat is not a typical retail store, the 'Laundromat Ownership Step-by-Step' course gives some insight into managing a business that provides services to customers. The concepts of customer service, managing inventory, and optimizing space are all relevant to a retail manager. A retail manager could use this course to gain a deeper understanding of business operations to enhance their service. This course can be useful for those who want to gain general business knowledge that can be applied to a variety of different scenarios.
See salaries and explore the career path for Retail Manager
Customer Service Representative
A customer service representative interacts with customers, providing information and resolving issues. The 'Laundromat Ownership Step-by-Step' course, while focused on ownership, dedicates a portion of its curriculum to customer relations and customer service. A customer service representative should know how to interact with customers in a variety of situations, and they will benefit from this course's focus on that particular area. The course highlights the importance of customer satisfaction and this aspect would be beneficial to a customer service representative. This course may be useful to someone seeking to improve their overall customer service skills, regardless of the specific industry.
See salaries and explore the career path for Customer Service Representative
Financial Analyst
A financial analyst assesses financial data to provide insights for decision-making, and their work often involves evaluating the performance and profitability of various types of businesses. While the 'Laundromat Ownership Step-by-Step' course is focused on a specific type of business, it provides detailed information about the income, expenses, and cash flow management for a laundromat. A financial analyst should be able to understand these types of financials, and they may be able to apply the techniques taught in the course. The course’s emphasis on understanding financial statements, tracking profit, and maximizing revenue might be useful to a financial analyst to enhance their skills.
See salaries and explore the career path for Financial Analyst
Marketing Associate
A marketing associate is responsible for developing and implementing marketing strategies to promote products or services. The 'Laundromat Ownership Step-by-Step' course includes a section on advertising and marketing strategies specific to laundromats. The specific examples and guidance on how to use advertising flyers would help a marketing associate learn how to create impactful marketing campaigns. The course's focus on customer convenience further emphasizes the importance of understanding the customer base. A marketing associate might find this course useful to apply general marketing concepts to a specific market.
See salaries and explore the career path for Marketing Associate
Sales Associate
A sales associate is responsible for selling products or services, often directly to customers. The 'Laundromat Ownership Step-by-Step' course, while not directly about sales, touches on several areas that would be beneficial for a sales associate. For example, the course emphasizes customer service which is a key aspect of any sales role. A sales associate should be able to understand different types of businesses and the challenges they might face, and the course provides a business owner’s point of view. By understanding the laundromat business, they may be able to identify new opportunities. This course may be useful for those looking to learn basic business skills.
See salaries and explore the career path for Sales Associate

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Laundromat Ownership Step-by-Step.
Cover image
The E-Myth Pest Control Business
Save
Provides valuable insights into building a business that works for you, rather than you working for it. It emphasizes systemization and delegation, which are crucial for scaling a laundromat business beyond owner-operated. It helps you transition from technician to manager to entrepreneur. This book is highly recommended for anyone looking to grow their laundromat business and achieve passive income.
The E-Myth Pest Control Business: Why Most Pest...
Hardcover
$$
Cover image
Putting Knowledge to Work
Save
Provides a comprehensive guide to starting and running a laundry business. It covers topics such as market research, financing, location selection, equipment purchase, and marketing. It useful resource for anyone who is new to the laundromat industry. This book is more valuable as additional reading than it is as a current reference.
Putting Knowledge to Work
Paperback
Check
Putting Knowledge to Work
Kindle Edition
Check

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Effort
2 total hours
Via
Udemy
Instructor
Joseph H.
Language
English
Good to know
Summarizes the process of buying a laundromat, which can be valuable for those looking to enter the industry
Lists operating expenses that sellers may not disclose, which helps learners make informed decisions
Explores strategies for growth, such as advertising and maximizing profit, which can help owners improve their business
Examines the pros and cons of laundromat ownership, which helps learners understand the realities of the business
Discusses the difference between passive income and owner-operated laundromats, which helps owners choose the right approach
Requires learners to develop their own strategy for success, which may be challenging for those seeking a plug-and-play solution
Share and help others discover this course.
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