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.comTim’s Facebook: https://www.facebook.com/LASDRICHThe Deluxe Laundry Spa website: https://deluxelaundryspa.com/Our Website: https://www.laundromatmillionaire.comOur Online Course: https://dave-menz.mykajabi.com/sales-pageOur Youtube channel: https://youtube.com/c/LaundromatMillionaireOur Podcast: https://laundromatmillionaire.com/podcast/Our Facebook: https://www.facebook.com/laundromatmillionaire/Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaireOur LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/Our Instagram: https://www.instagram.com/laundromatmillionaire/Our laundromats: https://www.queencitylaundry.comOur pick-up and delivery laundry services: https://www.queencitylaundry.com/deliveryOur WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/LaundroBoost Marketing Company: https://laundroboostmarketing.com/Suggested Services Page: https://www.laundromatmillionaire.com/servicesWDF & 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/Timestamps0:00:00 Episode 92 Intro0:02:50 Tim Richardson’s Journey into the Laundry Industry0:15:13 Researching the Industry and Finding the right Laundromat to Buy0:23:44 Understanding Working with Brokers0:26:21 The Quality of Laundry Industry Resources0:38:29 Focusing on Your Desired Customer0:43:57 Initial Costs on a “FREE Laundromat”0:45:33 Timelines and the Transformation0:49:28 Total Cost of Project0:52:10 Lessons on Store Layout 0:54:28 Shift from Commodity to Service Focus0:55:08 The First Day Open and Growth from there1:00:03 Final Thoughts and Contact Info