First Impressions and Financials of a Laundromat

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I sat down with Tyler Purcell, who owns four laundromats while also running a wealth management firm managing over $250 million. We talked about how he grew The Laundry Spot brand into a multi-million dollar operation that’s put 11 competitors out of business, and how he’s modernizing an old, forgotten industry. Tyler shared the full economics of the laundromat business, how much it costs to open one, what they net per location, and why he calls it a “bulletproof” business. We broke down his grand opening strategy that ramps stores to $500K revenue month from day one, his approach to commercial laundry and residential pickup, and why he believes laundromats are still years behind the car wash industry in innovation.

You can find Tyler on X at https://x.com/TylerPurcell24 and on LinkedIn at https://www.linkedin.com/in/tylerpurcell-balancewealth/.

Enjoy!

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