Capital Hacking E321: How to Buy a Laundromat with Dave Kiernan
In this episode of Capital Hacking, we had the pleasure of interviewing Dave Kiernan, a successful entrepreneur with a background in mechanical engineering and experience in the laundromat business. Dave shared his journey from playing ice hockey in Canada to becoming a top executive in a company that manufactures vehicle components for the military. Despite his successful career, Dave ventured into the laundromat business, which he found to be a lucrative opportunity.
Dave's humble and detail-oriented approach to managing his laundromats was evident throughout the conversation. He discussed the challenges and opportunities in the laundromat industry, highlighting the importance of infrastructure, equipment, and operational efficiency. Dave also shared insights into the financial aspects of running a laundromat, including profit margins and operational costs.
Ultimate Show Notes:
[00:04:31] Dave Kiernan's Background and Early Life
[00:06:29] Transition to the U.S. and Career Development
[00:10:33] Challenges Faced in Early Career
[00:10:46] Introduction to John and Involvement in Gym Business
[00:12:07] Transition to Real Estate and Flipping Houses
[00:15:10] Venturing into Custom Automotive Shop
[00:16:42] Diversification into Laundromat Business
[00:17:24] Expansion and Challenges in Laundromat Business
[00:18:18] Discussion on Financing and Growth Strategies
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