Making My Laundromat Into A CASHFLOW Machine W/ Danny D'Angelo
Published: 2021-02-17
Status:
Available
|
Analyzed
Published: 2021-02-17
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker has partnered with Danny D'Angelo to sell his laundromat course on investmentjoy.com.
"i can't beat danny as far as i'm concerned so now we've partnered with them to sell the dvd on investmentjoy.com"
Pending
Danny D'Angelo's laundromat course has testimonials of individuals who opened laundromats without significant investment, potentially even for free.
"he's got a lot of wonderful testimonials that have opened up their own laundromat and in many cases they haven't spent a dime that doesn't fit on a business card"
Pending
The existing laundromat equipment is considered 'end of life' and needs replacement.
"this equipment is end of life yes period"
Pending
The speaker advises inquiring with city, state, and county officials about potential grants or funding (possibly up to $150,000) for laundromat renovations, including concrete cleanup, facade improvements, and sign renewal.
"ask the city okay the state the county okay if they will give you you might be surprised they might give you 150 grand i don't know but to clean up the concrete you get to clean up the facade to renew your sign"
Pending
Historic districts may contribute 50% of renovation funds, but adhering to their standards can triple the average cost.
"the historic district they will pony up 50 of the funds the problem is when you do it to their historic renovation standards they it's about three times the average cost"
Pending
Painting the laundromat 'hospital white' is predicted to create a phenomenal effect due to light refraction, making the space appear significantly improved the next day.
"paint the place hospital white okay you know that have you have your minions come in and paint the place hospital white and the next day you won't notice it right away but the next day you walk in you go whoa what happened boom yeah it's the the refraction of the light it's going to be phenomenal for the story from a hundred miles away"
Pending
The current single-stack dryers are insufficient for the number of washers, indicating a need for more drying capacity.
"when i see single stack tumblers which is an industry term for dryers i say knits no yet nine uh-uh no way because you don't have enough drying capacity in this store for the washers that you have"
Pending
Double-stack dryers are recommended as they have fewer failure points (motor, drum wear) and are less susceptible to damage from items like drywall screws compared to single-stack units.
"if these were double stacks we'd fix them because what goes wrong there's a motor the worst thing that could happen to a tumbler is the drum gets worn out someone leaves a you already know drywall screws oh yeah drywall screws they're the perf number eight inch and a half drywall screws there's very few parts that can go bad in double stacks"
Pending
Replacing single-stack dryers with double-stack units would double the capacity (e.g., from four to eight dryers) and potentially increase the size of the machines to 45-pound capacity.
"so instead of four dryers that don't work you'd have eight and i would put 45 pounders in here 45 doubles yes"
Pending
The ideal laundromat business model is for customers to bring in dirty laundry and money, and leave with clean laundry and no money.
"you want customers to walk in with dirty laundry and folding money and leave with clean laundry and no money"
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The current laundromat space (approximately 1000 sq ft) is considered too small to be profitable.
"if you emailed me called me text if you consulted with me i tell you don't do it it's too small okay because your goal is to become profitable"
Pending
The speaker suggests pushing back the wall to create more space, specifically for folding areas and potentially for selling soda and snacks, to alleviate the crowded feeling.
"blow this wall out push it back i put folding here okay pushing that wall back i put full like cat like reflexes i put folding soda snack whatever you need to just this place feels great very crowded and brown"
Pending
Lowering the ceiling to accommodate a lower water main and ensuring consistency throughout the store is recommended to create a franchise-like feel.
"if you can lower it yeah we can drop it okay okay so the the water main is lower yes i would and then consistency throughout the store you want people to feel as though they're in a franchise"
Pending
The current tables should be converted to folding tables, and investing in decent industrial seating is crucial.
"even you need these to be folding tables okay a couple of solo seats screwed to the ground okay and you have to spend the money you have to get decent industrial seating"
Pending
There is a need to install more washers, but a lack of funds and access to them was a previous impediment.
"you need to put more washers here okay yeah we did not remove everything the problem was i didn't want to spend the money i didn't have access to washers"
Pending
Due to a lack of funds and access to washers, unusable space was converted into a folding table area.
"the problem was i didn't want to spend the money i didn't have access to washers i have those three newer speed queens over there and it was just a situation of i can't utilize this for anything why don't we just make it into a folding table in the meantime"
Pending
Adding double-pocket dryers is not feasible due to the limited size of the laundromat.
"if i did put in dual pop double pockets over there this store is too small bro where are you gonna put it"
Pending
The boiler system needs to be integrated into the laundromat's overall plan, and contacting the city about renovations is the immediate first step.
"this needs to be part of the longer map yeah i mean without a doubt the first thing i would do is ask the city"
Pending
Historic districts can contribute 50% to renovations, but compliance with their standards increases costs by approximately three times the average.
"they will pony up 50 of the funds the problem is when you do it to their historic renovation standards they it's about three times the average cost"
Pending
The speaker is willing to pay 1.5 times the cost for renovations if they can leverage YouTube and community appeal to make the project a success and beneficial for the small town.
"i get it so i'm paying one and a half times what it costs for me to personally get done now if i can pull the youtube fame deal whatever and say this would look wonderful for our small town everybody on the internet would love to see how powerful it is"
Pending
Placing soda and snacks under an overhang outside can capitalize on summer traffic, and the area can also serve as a folding area with dryers located nearby.
"so that folks that there's a lot of traffic in the summertime okay number one number two this becomes your folding area okay this your dryers are here your additional drives okay okay they're here it's a nightmare to get"
Pending
Dryer installations, including penetrations and makeup air, should be located at the back wall, and the 'dryer fix' should be implemented in that area.
"so likely you have a back wall here so your penetrations and your makeup air come through here okay but this is your dryer fix okay okay so dryer foot but not there okay here okay here's your dryers"
Pending
The proposed layout includes dryers, tumblers, and freestanding folding tables.
"here's your dryers your tumblers okay and a couple of freestanding folding tables"
Pending