Codie Sanchez owns 25-30 laundromats. His best one makes $3 million a year with a 15% profit margin by offering wash-and-fold service instead of just coin machines. Most laundromats earn $100k-$500k annually at lower margins.
I invested in one laundromat that did $3 million a year. So it's doing like $8 grand a day. Yeah, they do 15% margins, and the way they do them is actually through the wash and fold business, not the walk-in laundry business. Okay, gotcha. And so the real business where the higher level customers are and where you make more money is single mom wants to put her bag of clothes outside of her door, you pick it up, you wash it, you drop it back off. It requires cars and logistics and some oversight. It's more complex. The average laundromat makes somewhere around $100,000 to $500,000 a year at 10 to 15% margins. How many laundromats did you buy? In total, I probably owned like 25 or 30 laundromats over my career of laundromatting.
