POWC #572 – Investing in Laundromats with Jordan Berry

Laundromats can make you a lot of money, but they aren’t all roses and sunshine. Jordan Berry describes the good, bad, and ugly today. Welcome to Pillars of Wealth Creation, where we talk about building financial freedom with a special focus in business and Real Estate. Follow along as Todd Dexheimer interviews top entrepreneurs, investors, advisers and coaches. Jordan was a pastor for 15 years and transitioned out of full-time ministry into buying a laundromat. His experience buying his first laundromat was not a good one. Instead of replacing his salary, as he expected to, his laundromat lost $2,000 dollars per month for well over a year. Desperate to find help to turn his business around, he frantically searched for someone to guide him to profitability. He found no rescue. After finally stopping the bleeding, he decided to share the hard (and expensive) lessons he learned on a blog. And then on a YouTube channel. And then, on a quest to find out how the best laundromat owners operated their businesses, he started a podcast interviewing laundromat owners and other industry professionals. These platforms turned into Laundromat Resource which is an education and community platform for laundromat owners and future laundromat owners to learn, share best practices, and connect with one another. 3 Pillars 1. Cash flow 2. Equity 3. Tax advantages Books: Rich Dad Poor Dad by Robert Kiyosaki, E-Myth Revisited by Michael Gerber, Atomic Habits by James Clear, and Start with Why by Simon Sinek You can connect with Jordan at www.laundromatresource.com, YouTube or Jordan@laundromatresource.com Interested in coaching? Schedule a call with Todd at www.coachwithdex.com Connect with Pillars Of Wealth Creation on Facebook: www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: www.youtube.com/c/PillarsOfWealthCreation