Tyler Purcell
Founder of The Laundry Spot and COO of Kipling Wealth Advisors. Provides insights into the laundromat business, including profit margins, location strategies, and marketing techniques.
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Aug 28, 2024 • 53min
How to Start a Laundromat with 40% Net Profit Margins. Ep #058
In this conversation with Tyler Purcell, known as the 'Laundry Guy,' who runs four successful laundromats in Ohio, we delve into the lucrative world of laundromat ownership. Tyler shares his transition from financial planning to laundry, revealing how he achieves an impressive 40% profit margin. He discusses strategic community engagement, innovative marketing techniques, and the balance between cash and digital payment options. Insights on customer behavior and expansion plans make this a must-listen for aspiring entrepreneurs.
May 30, 2025 • 25min
180 - Can Laundromats Really Make You a Millionaire with Tyler Purcell
Tyler Purcell, Founder of The Laundry Spot and COO of Kipling Wealth Advisors, shares his insights into the lucrative laundromat business. He reveals how this recession-proof model offers surprising profit margins and why targeting 'zombie mats' is a smart strategy. Tyler discusses the importance of selecting locations with strong demographics and traffic, as well as his unique marketing techniques for grand openings. With personal anecdotes, he outlines the financial landscape for aspiring laundromat owners, emphasizing the potential for wealth creation.
