Dave Menz isn’t called “The Laundromat Millionaire” for nothing. After living in poverty, he has now become the owner of a multi-store, multi-million dollar chain of laundromats in Cincinnati, Ohio. Due to this, it’s no surprise that he believes that the laundromat business is one of, if not the, best business to do in America. But he does admit that it may not be the best for everyone. Dave says, “Let me explain. I’ve seen a lot of people get into the laundromat business for the wrong reasons, which doesn’t just hurt them but also their community and the industry as a whole.”
He then elaborates further on why he came up with the thought. “And that’s because they’ve been sold this dream, that a laundromat is this incredibly passive income powerhouse that’ll immediately make money with almost no work. It’s a complete lie. Yes, once you’ve hired all the staff, set up all the systems, and overhauled your new purchase? It can be relatively passive at times. But if that’s your expectation straight outta the gate? This business is probably not for you. Also, if you’re looking for something prestigious, probably not for you.”
At least, in this aspect, Dave Menz is truthful with his words. He’s not using flowery words nor flashing any fancy belongings to convince you to try his business model. He’s telling the absolute truth, that having a laundromat business may not be for everyone. He may think that this is the best business to do ever, but he also knows that not many will agree with him. And who would not? Owning a laundromat business means you may have to get down and dirty with the business. Especially since you may be dealing with not-so-clean buildings, some of the washers and dryers not working, and even the occasional homeless guy. If you’re not someone who is used to some physical labor, this may not be for you.
But Dave also says that, if these don’t bother you, what you get is an incredible business opportunity with virtually little to no competition over other businesses. Cranking several online courses and selling them, dropshipping somewhat low-quality products made in China, expensive investing in real estate, self-publishing ebooks and audiobooks, affiliate marketing, even MLMs (my goodness), all of them have one thing in common. They’re too saturated. You’re going to inevitably face a lot of competition in the business space, thus finding yourself doing more work than you intend to do. By comparison, laundromats are few and far between, and once you set one up in a good place, the profits are already for the taking. After all, people need to wash their clothes everyday.
Dave then explains, “If you care more about being an entrepreneur than looking like one? And you also care about helping your community? And doing it in a flexible and hopefully semi-passive way? Then this might just be the business for you. I currently own four successful laundromats with over thirty employees in total. But I first started out with a pretty janky laundromat that I ran myself while working full-time at a different job. I turned it around in six months, bought my second one, and expanded from there.”
He then continues, “And I believe you can do the same, no matter where you are in life. Because I didn’t really have any advantages when I started out either. My message to you is simple: if I can, then you can too. I grew up in poverty and I remember going to the local laundromat when I was a kid and the owner would look down on me and my family, rather than having empathy for the situation we were in. And that’s why I’m so passionate about this industry to this day. I know the effect [properly run] laundromats can have on the community.”
He then states that the reason why most laundromats fail in the business, is that they just can’t do it properly, or just don’t care about it. They don’t commit to it, and now eventually, their laundromat will eventually be a former shade of its glory. Resulting in an unmaintained area with machines that just suddenly break down when used. Which then leads to fewer customers eventually. But if you’re really determined to launch your own laundromat business and to do it right, and of course, build some recurring revenue in the process, then check out Dave’s The Laundromat Millionaire Elevate course. The cost of taking the course is around $1,000, and it comes with a 30-day money-back guarantee. Setting up your own laundromat business might be a bit expensive at first, but at the very least, Dave’s really honest with this. I like it.