From Rags to Riches: Laundromats As An Alternative Investment With Dave Menz

As of 2022, there are 18,264 laundromat businesses in the United States that generate about $5 billion in combined nationwide gross annual revenue. In this episode of The Agent of Wealth Podcast, host Marc Bautis is joined by Dave Menz, aka “The Laundromat Millionaire.” Menz is the Founder and Owner of Queen City Laundry, host of Laundromat Millionaire Show and the author of Laundromat Millionaire: The Grit to Elevate an Industry. Together, they break the stigma of laundromat ownership by uncovering the real facts and figures that led to Menz’s millionaire status. In this episode, you will learn:How to enter the laundromat business, including how much capital is needed to start and how to identify strong locations.How laundromats can evoke change in disparaged communities.Tips for operating and staffing a laundromat business.How to grow your laundromat business from a passive income source to a fully operated, fully staffed location.And more!Resources:Episode Transcript & Blog | Laundromatmillionaire.com | Queen City Laundry | Laundromat Millionaire Show | Laundromat Millionaire: The Grit to Elevate an Industry | Bautis Financial: 7 N Mountain Ave Montclair, New Jersey 07042 (862) 205-5000Timestamps:0:33 - Who is Dave Menz, aka "The Laundromat Millionaire"?2:15 - How to Enter the Laundromat Industry5:10 - Breaking the Stigma of Laundromat Ownership6:00 - How Laundromats Serve (and Change) Communities7:08 - How Much Capital is Needed for Initial Investment?8:18 - Does a Laundromat Create Passive Income?10:08 - Transitioning from a  "Side Hustle" to Laundromat Millionaire15:28 - When Menz Quit His Corporate Job19:33 - Menz's Passion Project23:22 - How to Identify Strong Locations for a Laundromat Business29:58 - What's Next for The Laundromat Millionaire