The Real Cost of a Free Laundromat with Tim Richardson

Free laundromats are hard to find, but can be a great way to break into the industry. But are they really free?? In this episode of The Laundromat Millionaire Show, Tim Richardson shares his "free laundromat" story and the real costs that went into creating his amazing new store.

Referenced Links:
Our Sponsor: H-M Company Drain Troughs: https://www.draintroughs.com
Tim’s Facebook: https://www.facebook.com/LASDRICH
The Deluxe Laundry Spa website: https://deluxelaundryspa.com/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
Torrance Memorial Hospital: https://www.torrancememorial.org/
Dave’s Book on Amazon: https://www.amazon.com/Laundromat-Millionaire-Grit-Elevate-Industry/
Hubspot: https://www.hubspot.com/products/
Beyond Scared Straight TV Show: https://www.imdb.com/title/tt1707374/

Timestamps
0:00:00 Episode 92 Intro
0:02:50 Tim Richardson’s Journey into the Laundry Industry
0:15:13 Researching the Industry and Finding the right Laundromat to Buy
0:23:44 Understanding Working with Brokers
0:26:21 The Quality of Laundry Industry Resources
0:38:29 Focusing on Your Desired Customer
0:43:57 Initial Costs on a “FREE Laundromat”
0:45:33 Timelines and the Transformation
0:49:28 Total Cost of Project
0:52:10 Lessons on Store Layout
0:54:28 Shift from Commodity to Service Focus
0:55:08 The First Day Open and Growth from there
1:00:03 Final Thoughts and Contact Info