Sam Parr owns about 25 to 30 laundromats. One location makes $3 million a year, roughly $8k daily, by offering wash-and-fold service for busy customers like single parents instead of just self-service machines. Most laundromats make $100k to $500k yearly.
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 15 to 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.
