35.Using a Laundromat to Escape the Corporate Rat Race with Steve Andrews

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What do you do when your well-paying corporate job just disappears? Well, if you're Steve Andrews you kiss it goodbye for good! 

Steve used his laundromat to escape the corporate rat race and find financial freedom through laundromat ownership and it this show he tells you how he did it and how you can do it, too!

Steve's story punctuates the power that a well-run laundromat can have in transforming your life. While he was originally planning on buying a smaller, cheaper laundromat, when his corporate job disintegrated he had a decision to make. Should he update his resume and look for another job in the corporate rat race? Or, should he double down and buy a larger laundromat and use that as his escape from the corporate rat race?

In today's show, Steve tells his riveting tale of his big decision and shares the results of choosing to go big with his Nashville laundromat.  Full of valuable insight and experience, Steve's show is full of practical advice to other laundromat owners and those who want to buy their first laundromat!

In today's show, Steve and Jordan discuss:

• Real estate investments
• ROBs- Using retirement money to purchase a small business, like a laundromat
• Life in the corporate rat race
• Steve's big decision to leave the corporate rat race and choose laundromat ownership
• Cash flow with real estate vs. cash flow with laundromats
• Tips for convincing a spouse of the merits of buying a laundromat
• What makes a great laundromat location
• Building vs. Buying a laundromat business
• Laundromat lease negotiations
• Laundry pick up and delivery business with Happy Nest
• Taking care of good employees
• Ensuring a good customer experience

And so much more!

Take out your notepad and pencil because you're going to write some of this down!

Show Notes
https://laundromatresource.com/show35

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Links from the show:
Videos of Steve's Laundromat Buildout
Good to Great by Jim Collins

JD Dixon's Interview
JD Dixon's Distribution Company- National Laundry Equipment
Mike Kelly's Interview
Dave Menz's Interview
Marc Stern of Eastern Funding's Interview
Luke Williford's Interview

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