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| Name | $1M Invested to Start a Laundromat (Was It Worth It?) |
| Video Uploader | Video From UpFlip |
| Upload Date | This Video Uploaded At 10-10-2022 13:00:02 |
| Video Discription | What does it take to start a successful laundromat business? Brian Riseland made a 7-figure investment when he opened Laundry Genius in 2018. In this interview we’ll find out how he used that investment to found a scalable laundromat with huge revenue growth potential. Brian worked with a major tech company for 25 years before he went into the laundry business. When he was laid off, he seized the opportunity to become an entrepreneur. He’d heard owning a laundromat was a good business model for a first-time business owner and decided to take the leap, scouting out locations and opening his first Laundry Genius location in Everett, Washington. Before he opened Laundry Genius, Brian was offered the opportunity to buy a coin laundry franchise. In this interview, we’ll find out why he decided to start his own brand instead of buying a laundromat, and how he built his systems and brand identity to create a business that would last. That decision has paid off, and just a few years after opening, Brian is already looking for places he can open additional locations. A big part of Laundry Genius’ success is the exceptional experience they provide for customers. We’ll find out how Brian created this kind of first-class customer service and atmosphere from the ground up, including how he built his team and what systems he has in place to keep his customers coming back. If you’ve ever wondered how to start and run a laundry business, you need to watch this interview! And make sure you check out some of our past interviews with business owners: Owned a Laundromat for a Year (Does It Make Any Money?) ► https://www.youtube.com/watch?v=HVCJ-_VpGrY How Much Cash Can a Laundromat Business Really Make? ► https://www.youtube.com/watch?v=4Uh_qWSTmoY Resources https://www.laundry-genius.com/ - Find out more about Laundry Genius on their website https://www.upflip.com/academy - Start, Build & Grow Your Business https://www.upflip.com/blog/how-to-start-a-laundromat - A step-by-step guide to starting a laundromat https://www.upflip.com/equipment-list - UpFlip's Premier Equipment List Timestamps: 00:00 - Intro 00:48 - How Brian Became an Entrepreneur 01:32 - Initial Budget 02:28 - Factors To Consider For Locations 04:01 - Key To Picking the Right Machine 06:10 - How the Drop-Off Room Operates 07:53 - Most Profitable Services 08:53 - Best Way To Scale a Laundromat 10:02 - Tips on Building Brand Awareness 10:36 - Finding Great Employees 11:21 - Why You Should Start a Brand 12:51 - Key to Overcoming Challenges 14:27 - Delivering Above Competitors 15:57 - Best Advertising Strategies 17:21 - Finding the Right Partner and Distributor 18:21 - Tour of the Equipment Room 19:41 - When You Get Your Investment Back 20:23 - Blitz Time with Brian 21:19 - You Know THIS Before Starting 22:43 - Tips on Getting Supplies 23:42 - Drop-Off and Delivery Details 24:49 - Importance of Reviews 26:05 - Advice for Funding the Business 26:51 - Self-server Customer Experience 28:15 - Typical Day for Brian 29:30 - The Future of Laundry Genius 30:50 - How You Know When It’s Time to Scale 32:00 - Systems and Process 33:16 - What Brian Would Change If He Could 34:17 - How To Avoid Failure 34:52 - Consistent Customer Experience 35:52 - Repeat Customers vs. Single Time 36:37 - Advice for all Entrepreneurs #laundromatbusiness #owningalaundromat #laundromat |
| Category | Education |
| Tags | laundromat business | owning a laundromat | laundromat | coin laundry business | how to start a laundromat business | laundry business | buying a laundromat | coin laundry | starting a laundromat business | running a laundromat | laundry business plan | laundry | how to buy a laundromat | opening a laundromat | how to open a laundromat | how to start a laundry business | how to start laundry business | how to run a laundromat | how to own a laundromat | upflip |
