How much does a laundromat cost to run

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  • Published: 04 November 2019
  • Here's the October and September spread sheets for the laundromat. All my costs, all my expenses and the actual money it makes (or loses me). Hope this clears up all the water cost questions regarding operating it.

    Please consider liking this video, you can further connect with me on Instagram at instagram.com/investmentjoy

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    Thanks for watching!

Comments • 1 314

  • S.L. Royster
    S.L. Royster  8 hours back

    Thank you for this informative video! I always wanted to know much a laundromat makes.

    • Paul's CCNA
      Paul's CCNA  8 hours back

      Basically, if you did NOT have the two rentals, upstairs, then the business would have a loss, if I project the number you gave over a year. If I guess, that any long term annual profit is in the mortgage (if we remove the apartments) from the numbers and any increase in sales over time. My guess is that this business probably over 10 years will make $5,000 a year in net profit on the bottom line, (ever).

      • MindCompass
        MindCompass  9 hours back

        I'm glad to see someone else who has also procrastinated to activate windows as i have, no longer feel alone :D

        • Deloss92
          Deloss92  11 hours back

          can i just say i love how None commercial this video is. I mean that in the best way possible. Everything on youtube is so like professional and commercial type videos. It so nice for a change.

          • Morty
            Morty  14 hours back

            He kinda looks like that one guy who eats toilet paper and other crazy stuff😂

            Shoenice

            • Brian notafan
              Brian notafan  15 hours back

              ist rule dont give give breaks they will bite you in the ass every time

              • Brian notafan
                Brian notafan  15 hours back

                i'd have at least 4 good paying machines off the books spending money

                • M A#np
                  M A#np  22 hours back

                  I imagine facial recognition on your cameras would be a good way to keep tabs on bad actors entering your property also, some AI tech like at amazon cashless store, which monitors what people are doing for any potential vanalism or theft..

                  • M A#np
                    M A#np  23 hours back

                    do you have a suggestion or comment box or number people can leave message or text to with comments and questions or suggestions? Like if there is a consession people need or like.. to experiment with keeping on top of what items people preferr? Also, wondering where you buy your conessions supplies?

                    • M A#np
                      M A#np  23 hours back

                      which app or software program are you using for your spreadsheet? And I want to know are you using LED lights? Also.. I am wondering what the water costs per gallon?

                      • IntermittentSailingWithKids

                        This is awesome. I really enjoyed it and thanks for sharing. Anyone who thinks running a business makes you necessarily rich, needs to go try it. Yes there is a lot of "cash", but most of it gets eaten up by expenses. The benefit comes from working for yourself, and not being a slave to a company. Is it any wonder that Salary and Slavery both start with S?

                        • P Jones
                          P Jones  1 days back

                          You got my subscription by giving your tenants a break when things were rough for them. Good karma

                          • MisterNarrador
                            MisterNarrador  1 days back

                            thanks for the info. I believe you will be making more profit with no laundry and just rent. rent only profit would be about $1200 per month, rent + laundry would be around $600.

                            • Zi Ren Yong
                              Zi Ren Yong  1 days back

                              activate your window 10

                              • Radius
                                Radius  1 days back

                                Cleaning and maintenance costs are big in laundromat business however if you know how to do this by yourself it’s a big saving. This is based on experience especially if your business is a high traffic like in areas close to schools, equipment breakdowns are frequent.

                                • Jwxo Weeye
                                  Jwxo Weeye  2 days back

                                  Once you install card readers your income should go up

                                  • Hello There
                                    Hello There  2 days back

                                    Very good and interesting video -- thanks for taking the time

                                    • excited box
                                      excited box  2 days back

                                      Keep that vending machine full. I had a few machines and it makes a huge difference in sales. People buy more if the machine is fuller even if nothing was sold out.

                                      • Taylexwow
                                        Taylexwow  2 days back

                                        You seriously stick with a NOI of 1900 AFTER you indicate 660 dollars of expenses not included..... I get 500 is you to you but still..... Let's be honest the laundromat business income was 1300 not 1900 as you keep on that sheet and the first month was technically just 160 after the 500 dollar rent charge to it. Agreed you are doing well but that presentation is inaccurate as hell and I know you don't have investors but you need to keep better records

                                        • sdushdiu
                                          sdushdiu  2 days back

                                          Thanks

                                          • TEN THIRTY ONE
                                            TEN THIRTY ONE  2 days back

                                            Saves money by not buying a Windows License....

                                            • James Armstrong
                                              James Armstrong  2 days back

                                              Cash business is king - working/watching 7 days a week turns life into part time living.

                                              • Kevin Forrest
                                                Kevin Forrest  2 days back

                                                I love that you do this and I will refer my potential buyers to your video's. In California I'm brokering laundries in the 1MM-2MM+ range netting 17K-30K+ net per month. These laundries are 5,500-6,000 sqft. Upgrade this one you have now and then 2 years later that cash flow and laundry collateral will allow you to buy your second and then the two will pay the first off and then use the 2 to buy your third and all 3 pay the second one off and then the three buy the forth and 5-7 years later you can sell them off as a franchise for several million dollars and go buy a strip mall and be a bigger LL (landlord) than you are now...

                                                • Mark Sieg
                                                  Mark Sieg  2 days back

                                                  Nice graphinola in the background man.
                                                  Great videos, and very good basic info. Been wanting to look more into investments recently

                                                  • Gates Mcoy TV
                                                    Gates Mcoy TV  2 days back

                                                    Most negative people have negative stuff going on in their life so their opinion doesn't really matter...

                                                    • Steven Currin
                                                      Steven Currin  2 days back

                                                      You forgot to remind the naysayers that the money borrowed eventually gets paid off and since that debt is no longer there it gets moved to the profit side.

                                                      • bigrebone
                                                        bigrebone  2 days back

                                                        Good video. Glad to see people putting out useful solid business advice.

                                                        • John Bruce
                                                          John Bruce  2 days back

                                                          I’m a small business owner and also side investments. My employees and my family always think I make more then I actually do.

                                                          • Ronnie Pryor
                                                            Ronnie Pryor  2 days back

                                                            If your making $ it's a good investment! I own two businesses. It's so fun to celebrate the growth and problem solve the hurtles. Excellent video and content!

                                                            • indika nnn
                                                              indika nnn  2 days back

                                                              You are a great interputer, My opinion is if you lease the business, you can make net profit 5k

                                                              • Bill F
                                                                Bill F  2 days back

                                                                great video! to all the naysayers, they are likely never doing their own thing, building something that they own and unable to see the longer term big picture.

                                                                • Elysium
                                                                  Elysium  2 days back

                                                                  Why am i watching a laundromat youtube channel? I mean, i like it, but where did this come from?

                                                                  • Pharaoh Heru Kar-EL
                                                                    Pharaoh Heru Kar-EL  2 days back

                                                                    Offer a mid-week discount day on your single-load washers. People will wash moor on that day. The laundry mat n my hood does this on Tuesdays & Wednesdays... And people pack the place on those days to wash in the top loaders...

                                                                    $2.50 wash goes for $1.25 on those days...

                                                                    • Pharaoh Heru Kar-EL
                                                                      Pharaoh Heru Kar-EL  2 days back

                                                                      U did well! Phukk da nay sayers!

                                                                      • cat see
                                                                        cat see  2 days back

                                                                        He should invest in solar power and water making machine to save money you have to many deuts to pay.

                                                                        • nemesiswes426
                                                                          nemesiswes426  3 days back

                                                                          Looks like someone's using a stolen windows or just never bothered to activate it lol.

                                                                          • Shawn's Silver Stacking

                                                                            You are not dumb at all. I agree with everything you are doing here. Laundromats can be great businesses when you can also own the land. It can be a complete write off if nothing else and anything else after that is gravy on top. You seem to be saving a ton of money by utilizing your family in your business which is also very very smart. Once you are able to get newer equipment you will continue to improve your profit margins. Thank you for being candid in sharing your business here.

                                                                            • black Trekkie
                                                                              black Trekkie  3 days back

                                                                              The laundromat is literally paying for itself and putting some money in his pocket so I would say that's a win

                                                                              • Belus Traveller Foreign Once

                                                                                Keep pushing, YoUTube will pay the bills BroHam,

                                                                                • Vil3N
                                                                                  Vil3N  3 days back

                                                                                  you can definitely fit a little bubble gum machine for the little kids that have to go to the laundromat.

                                                                                  • jono999s
                                                                                    jono999s  3 days back

                                                                                    Just keep doin your thing

                                                                                    • jono999s
                                                                                      jono999s  3 days back

                                                                                      Negative + hard work = who cares what other people think

                                                                                      • jake the snake
                                                                                        jake the snake  3 days back

                                                                                        Do you ever find any silver coins? PS. I have that same amp the xxl. I love it

                                                                                        • Shadowshark80
                                                                                          Shadowshark80  3 days back

                                                                                          Congratulations on the success

                                                                                          • CrafterLuke
                                                                                            CrafterLuke  3 days back

                                                                                            Dude why you talk about "Lighting Costs" when your running a shed load of ancient washing machines and more importantly dryers. Your lighting will cost next to nothing comparewd to those. Also you can just install like 20 watt bulbs or whatnot these days

                                                                                            • Daniel Bilodeau
                                                                                              Daniel Bilodeau  3 days back

                                                                                              Check out "Grander" water treatment for your laundromat--eg, Harvest Haven YouTube channel (they also sell it). It's supposed to among other things prevent mineral buildup and make detergent more effective.

                                                                                              • Daniel Bilodeau
                                                                                                Daniel Bilodeau  3 days back

                                                                                                I really like your stuff. Subscribed!

                                                                                                • Rylee Roseborough
                                                                                                  Rylee Roseborough  3 days back

                                                                                                  Electricity could potentially go down too with newer more efficient appliances