134. 10 Harsh Truths Facing the Laundromat Industry Today

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Welcome back to the Laundromat Resource Podcast! In today's episode, titled "10 Hard-Hitting Truths," we delve into some eye-opening realities for those looking to buy or own a laundromat. We discuss the challenges in finding deals, the importance of building relationships, and the need for collective action to drive change in the industry. They emphasize the value of transparency and support for laundromat owners, and highlight the resources provided by Laundromat Resource to foster collaboration and growth. So grab your headphones, because it's time to confront and address the truth in the laundromat industry. Let's dive in!

In this episode, Jordan discusses:

01:55 Podcast summary, new calculator and secret tool.
03:34 2024 goal: $50k value in pro community. Join for discounts, resources, and community.
08:23 Build relationships with brokers to get deals.
10:48 Math is key to finding opportunities in interest rates and purchase prices.
16:16 Podcasts, YouTube, and social media overwhelm with advice.
17:53 Hold tight to principles, be flexible tactically.
21:29 Pay attention to details, pricing, competitors, opportunity.
25:13 Social media accounts for laundromat attract customers.
27:58 Increasing costs put pressure on businesses. Difficulty in competing due to lack of response from competitors. Solution: better industry practices.
32:39 Continuous innovation is vital for long-term success.
35:08 Industry needs change; distribution model broken.
38:19 Ten industry truths to face for growth.

Forum Post- https://www.laundromatresource.com/forums/topic/10-hard-truths-podcast/

Show Notes-
https://laundromatresource.com/show134

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