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Make sure to watch Part 2: wwwyoutubecom/watch?v=dBJPgEhEfU4brWhat would you do if you opened a business and were in Justin and Mike’s shoes? How would you deal with the situation? Leave a comment below!
Comment from : UpFlip

I’m proud of the guy for being brave enough to do this interview You can tell he’s a man of few words 🤫🦾and lots of action!!!
Comment from : Sandy Cheeks

😮IDK why I thought 🤩going behind that door would be like stepping into an MTV crib 😂
Comment from : Sandy Cheeks

You need launder mat 😎 💵
Comment from : Prabin Paudel

How much revenue per month?
Comment from : Kong Jun

I would imagine owning a Laundromat in a low income area would be a good business venture
Comment from : Swing Ger

This owner was well honest with every decision he made with his business Props to him !
Comment from : micaela

Why do they donate unmatched socks?
Comment from : Gerry Attrik

In the Philippines there is a system like laundry mat but using only card, no more coins I think better to do that way
Comment from : gil Nebres

Сharity needs old socks?
Comment from : mahno730

4:30 Fifteen or fifty percent profit margin? I can't understand what he is sqying
Comment from : Brett DeLong

Why am I so fk up
Comment from : Zhuoming Liang

Reduce risk
Comment from : Rolls Royce

Video has great and interesting information but good LORD stop moving the camera around when interviewing people It's so distracting
Comment from : Samantha Travitz

Why is the interviewer wearing a vampire cloak? 🤣🧛‍♂️🦇
Comment from : Yoda LayHeeWho

This guy is avoiding telling us his actual profit margin and profitability
Comment from : Budd Knapp

Great video on the value center
Comment from : Tom Townsend

Do laundry places get robbed or vandalized?
Comment from : Stella N

Which country are you located and state
Comment from : Mike

What is the price of big washing loudry machine
Comment from : Mike

Mike Hawks? No way
Comment from : Andrew Willis

Mike who couldn't make it?
Comment from : CrackalackinWombat

tremendous value
Comment from : doron uzan

half a million start up cost
Comment from : Bitcoin Mike

Considering trying my hand at this whole Laundromat business in Lakewood WA These vids are very insightful, thank you!
Comment from : Tac Oma

Hehehe Mike cox 😂😂😂😂
Comment from : carlos solis

I dont know why washing machine and dryer the cheaper one around 1000 for both why people still go out there for washing it
Comment from : Ken Dinh

I agree with all the praise about this video and the laundromat and owner! One other thing: the design of this space is so on point It shows how much they care about the customers Not those plastic chairs, but stylish leather-looking couches? The wood trim Every detail thought out Well done
Comment from : Kate Alexander

I would like to know What point of sale and CRM systems they are usingbrWhen he said he is running a two month cycle of water, does this mean he is recycling water? If so, how does he do that? I can't imagine recycling and cleaning laundry water
Comment from : BrownieLove Mike

Step 1: have million dollars
Comment from : Automated Comment

Great video! Thank you
Comment from : Jose Navarro

I like my interactions while there I can wash clothes anywhere It’s the family local feeling keeps me going back
Comment from : Halfway Tohell

Johnny Drama really found his calling after his acting career didn’t pan out
Comment from : Connor Walsh

In my hometown coin-laundromats are extinct since at least 12-13 years it has been a digital business ever since
Comment from : redsprite81

This host is comically bad Weird outfit, looks uncomfortable, has a phone in his hand the whole time What’s going on here
Comment from : Michael Caruso

When we start exciting everyone with all these details publicly, chances are it’s going to be on the road of less and less profitable in the future with many people jumping onboard
Comment from : Fairworld

Great insight, thanks! Checking out P2
Comment from : DAVE KNOTT

Awesome
Comment from : Bruno Umoffia

PROBLEM WITH LAUNDRY MARTSbrARE THE VARIABLE COSTSbrUTILITIES WATER BILLS GAS BILLbrLEASE/RENT LABOR NOW IMAGINE 24HOURS A DAY 7 DAY WEEK 365brA YEARS IS IT PROFITABLE DEPENDSbrLOCATION LOCATION LOCATIONbrHI TRAFFIC TOP LINE TOOLS EQUIPMENT BRIGHT LIGHTS SECURITY ETCbrJBok
Comment from : River Life

Yes but when converted to bills, not so much
Comment from : Paul Espinoza

great content as always, UpFlip!
Comment from : CC CC

Why not add a TV there?
Comment from : Mike Anderson

Not likely the first year You're concentrating on loans & Liabilities for the first couple of years Eventually, profits will accrue It's important to be involved in several Ventures, simultaneously Comfortable people are really just Normal people who aren't afraid of debt - Debt creates Money
Comment from : Bradley Laford

Great video Thanks for sharing your experience I saw SpeedQueen logo in the video Is your laundromat a franchise operation from SpeedQueen? If not, how do I get up the curve in this business if I have zero experience in running it? Thanks
Comment from : SE THAN

sock idea is genius I love the creative inspiration
Comment from : A Parked Car

Machines cost lot in america 10k$
Comment from : Mad kiss

Instead of a QR scan or app Why, a card that Customers fill with money instead of coins?brbrWill there be a video to explain on the app system, why, and how it would fully work?brbrIs your business a S or a C corporation or an LLC?
Comment from : Nic Nico

I watched part 1 and 2 and he said its about 50 profit margin but I want to know the annual# ? Did I miss it?
Comment from : rawmelody123

The most misused word of the year entrepreneur
Comment from : Grey Beard

What are your thoughts regarding competition and how close a competitive laundromat can safely be? I am looking at a laundromat to purchase but realized a brand new laundromat opened up two years ago only 25miles away
Comment from : Jeff Pratt

I was thinking maybe I could do this where I livein Ferndale then I heard him say here in Ferndale and then I thought nope 🤦🏻‍♂️
Comment from : J Dubs

No way dudes name is actually Mike Cox 😂😂😂
Comment from : Ricky

How do you find out about all the regulations and key decision makers if you are new to the industry and owning a business For example: having two water heaters and having inspections yearly?
Comment from : Renee L Borden

what type of machines are these? and what the of software is it to operate the application?
Comment from : Kevin Jones

Ever thought of getting water from air machines, very popular in Texas, Israel and dry countries, they have solar powered models, save you a fortune in water
Comment from : david rumbelow

My friend, an engineer sucks the heat from his washing machines engines and into the dryers in his coin op laundry Cuts costs
Comment from : david rumbelow

Depends on where you place your business and the price per washbrbr Building a Landrymat next to a high income area might not be so beneficial compared to a low income area
Comment from : James Jenkins

For the love of God, STOP wobbling that camera around, camera guy! Nauseous!
Comment from : XZ

NobrChinese chips in the machines Constantly breaking down
Comment from : Troy Heffernan

Top class gentlemen Thanks for sharing the passion, the utilities are spotless, army grade clean!
Comment from : Mete Can Karahasan

Doesn't everyone have a dryer and washer at home?🤔
Comment from : Purin

ask yourself, if you had a easy to obtain business model with 50-60 profit margin would you come in front of camera and tell the world “hey it’s so good, you are missing out!”?
Comment from : Rez

WTF 4-5 hundred power bill? 56 machines?brMy home bill with SCE was $1000 last month, up from $200brNothing was changed in my homebrI have No A/C, and LED lights
Comment from : peter faulk

You should display your contact number Your briefing is not important
Comment from : Raja Ilyas

my thing isnt with what makes money, its how to get the capital to start a business!
Comment from : SyDiko

I'd grab ALL those socks Quit wearing matching pairs years ago!
Comment from : Jeff Bryan

Is the guys name really mike cox?😂
Comment from : quit

No, but they can launder a ton of money
Comment from : Daniel Romej

@ 05:45 he checks the front door to make sure no one is around before he opens up that machinegreat situational awareness!
Comment from : Dizz_689

I just purchased my LLC license today and I'm in the process of getting my business started out with a laundromat
Comment from : Beast Laser

He spent the last 18 years in the military? He should have just stuck out and finished his 20 to get the retirement Double income
Comment from : ••

You bet they make money, setting digital washers to skip down time for shorter washes after people paid for longer washer times…don’t beIieve me, watch your laundry mat washer time skip through the whole wash loosing minutes as it goes,and you will not get a refund…
Comment from : Jerry Odom

Instead of employee, why not contract attendants?
Comment from : Ultra Light Ultra Bright

Location, Location, Location
Comment from : Oklahoman 0007

Location most importantI know the money they make I've installed that equipment
Comment from : Carl Cutts

I had a Pinball route with 50 machines - these cash business only make money if you need to "launder" a lot of cash
Comment from : Daniel Weston

I thought that was zelenski
Comment from : micro fox

It depends on the dependability of the machines and infrastructure (plumbing, electrical, HVAC, etc)
Comment from : 2Truth4Liberty

Laundromats are great to own, but my reported profits are always a lossbrI wish i owned 10 more! [wink wink]there's something in my eyebr🍀🍀🍀🍀🍀🍀🍀🍀
Comment from : Bobby The Blade

dependsis it a Chinese laundry? (if you don't get that congrats your not old) but seriously runing a wash and go can be profitable or not based on 3 criteria, location, competition, and clientellea good location means a place in a decent sized city, or at least a town, near apartments or other residences that are unlikely to have tere own built in laundry facilities or if they have them they are llimited enough as to prevent everyone from useing them at once, competition is obvious how many other laundrymats are there in your area, do they offer the same services you do or are they providieng something else, for example do they do dry cleaning while you just do regular wash and dry ect, and lastly clientelle, why is this one important because it can have a drastic effect on your bottomelineor to put it simply if your customers are all assholes that wreck your equipment and harass your employees to the point they quit, it doesnt mater if you have a bunch of customers the upkeep costs there behavior incurss will tank any profits
Comment from : PrysmTKitsune

Only 4-500 a month for electricity? There’s just no way that’s accurate
Comment from : A S

The elephant in the room is taxes A lot of misconception here Back in the early 70’s owning an all cash business Ie car washes and laundry mats was THE thing to own The government realized that just maybe they weren’t getting their fair share Today, the government estimates your taxes based on your water and electric bills They have a way of converting those two bills to taxable income Just saying
Comment from : Gary

2:28 This is where 'Give to charity' just gets implanted in everyone's mind, but what in the world would a charity do with one half of a pair of socks? Give it to a tailor or seamstress who can reuse the material at least
Comment from : Imapotato

Partnership: the worst ship afloat
Comment from : Elizabeth Blane

The first ship to sink was a partnership
Comment from : cluck head

Great Video, My laundromat is not in a good neighborhood, the vending machine are empty because of theif, that is even with a camera security system, and attendences, however the system for payment is good using payment card you reload with funds Carts are always too few, people are strange, homeless crowd uses the equipment without paying they throw their stuff in your load then try to get their stuff and sometimes with alittle of yours Dogs inside, people talking to self or internal voices sometimes yelling But certain time its not crowded and can get in and out fast!
Comment from : John Pavon

Another example of automation replacing human labor
Comment from : ABrokenPowersupply

I'm sure it's not a ton of money, just a few hundred lbs but I'm curious how much money you launder in a car wash, our town has 37, and no one ever uses them, but they keep building more
Comment from : john Jacob jingle

It depends what you define as make money
Comment from : sportsMike87

Did this ever tell us how much he makes?
Comment from : Legal Reefer

Jesus loves you all and have a great day also remember to not say the Lords name in vein and to say your blessings before you eat food Also remember to love like Jesus does and to not hate anyone no matter what
Comment from : Jayhawkrulz