June 2010 Meeting

Owning a laundromat can be a very profitable business and can add a significant amount of money to your net worth.  According to the Small Business Administration, coin laundries provide investor returns of 25% to 50%.  This is because self service laundries have high fixed costs and low variable costs.  It is a service-based business that fulfills a basic necessity in life and is therefore recession-resistant! 

A Laundromat is one of the simplest businesses to run.  The beauty of owning a coin laundry is that it is a business that, if set up properly, should only require 5 to 10 hours a week of your time. That's less than two hours a day with weekends off. The majority of the remaining time is spent on collecting and counting the money, filling up the change machines and taking the money to the bank.

This is a business that is NOT labor intensive so you won't have a lot of employees to manage. Plus there's no selling involved. You are simply providing the use of your equipment and facility to the public at a nominal fee. With the economic downturn, more and more people are moving into apartments which means there is a growing need for Laundromats.

The Laundromat business is service‐based and fulfills a basic necessity in life. What’s more, it is commonly referred to a counter cyclical business, meaning that the business may even increase during a recession. It will be in demand for as long as people have the need to do their laundry.  This is still one of the few businesses where the customers pay you up front and in cash.  The success rates for Laundromats are an amazing 98%, according to the Small Business Association.

The biggest benefit is the lifestyle that this income provides. It allows you the financial freedom to really get out and enjoy the best of life.  Owning a Laundromat is a great safety net business. It’s great for people who have jobs, people who are concerned about having enough money during retirement, and real estate investors who are looking for tax advantages or to diversify.  Laundromats can take advantage of tax laws by writing off the value of the equipment over time. When done properly, this can also provide you with a significant Tax Savings.

Over the years, Brian developed a system to find potential Laundromats for sale, analyze them, negotiate their purchase, and turn them into a highly profitable source of monthly income. But when he started this business, it was simply to have a safety net. Brian says that he never would have imagined that he would someday be teaching others about Laundromats. But now people ask him all the time about the coin laundry business and want to learn how he became successful.

One of the most important things Brian has learned and what has been a big key to become successful in this business, is learning how to think like an entrepreneur. It’s this mindset that has helped him go from working a job to owning multiple businesses. This business has literally changed his life.

Brian Brunckhorst, author, seminar speaker, successful entrepreneur and laundromats expert, mentors people across the U.S. on how to find, evaluate, and purchase laundromats.  Brian will be sharing his secrets on this recession-resistant business opportunity with you!

Here’s some of what will be covered during the presentation:

• The coin laundry industry trend
• Are laundromats recession-resistant
• Startup costs
• How much can I really make
• Finding a good location
• Keeping track of the money
• and more..