I would invest in laundromats and a liquor store. Rather than try to create a new business, I would prefer to invest in an existing revenue stream of something integral to life and society.
Near me there is a combination laundromat and bar. It's a pretty nice bar, connected to the laundromat next door. Same owner. Do your laundry and have some fun while doing so. Genius idea, I always thought.
That’s genius and really sad. For a lot of us reading this board, there are a plethora of services that we never use. Laundromats, check cashing places, pawnshops, payday lenders, all sorts of businesses that cater to a large segment of our society.
Love laundromats. Love speed queens. Cash money, reliable assets, and no moral issues with providing laundry services. Same with car washes, good margins there too.
I thought the same thing until I had to wash a large comforter. I am very close to a major American city, is still in the suburbs. I went to my local laundromat and it was packed, with big screen TVs, free Wi-Fi, and vending machines. It was a pleasant experience!
I wish, 100k isn't probably going to get you there. The machines usually run 50k from the people I've talked to about their starts.
Liquor licensing and approvals can eat that 100k before you even have inventory
Well the question was if you had $100,000 what would you do with it, and my answer was too invested in these businesses. I agree that it would be very expensive to try to buy one and start it up new, but perhaps I could buy into an existing business. Another option is to use the $100,000 as a down payment on a business loan to create the laundromat business. I see your point, but I was going more for the investment rather than outright buy
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I would invest in laundromats and a liquor store. Rather than try to create a new business, I would prefer to invest in an existing revenue stream of something integral to life and society.
Near me there is a combination laundromat and bar. It's a pretty nice bar, connected to the laundromat next door. Same owner. Do your laundry and have some fun while doing so. Genius idea, I always thought.
Brainwash SF RIP
https://brokeassstuart.com/2017/12/12/eulogy-brainwash-cafe/
That’s genius and really sad. For a lot of us reading this board, there are a plethora of services that we never use. Laundromats, check cashing places, pawnshops, payday lenders, all sorts of businesses that cater to a large segment of our society.
Love laundromats. Love speed queens. Cash money, reliable assets, and no moral issues with providing laundry services. Same with car washes, good margins there too.
Laundries/laundromats are still a thing? I would have guessed they were a dying industry.
$5B market in the US alone. Dry cleaning is on its way out, but lots of folks still without laundry facilities at home or where they rent.
Fascinating, didn’t know about dry cleaning. Found this article:
https://www.npr.org/2021/03/31/982953808/coronavirus-pandemi...
I thought the same thing until I had to wash a large comforter. I am very close to a major American city, is still in the suburbs. I went to my local laundromat and it was packed, with big screen TVs, free Wi-Fi, and vending machines. It was a pleasant experience!
I wish, 100k isn't probably going to get you there. The machines usually run 50k from the people I've talked to about their starts. Liquor licensing and approvals can eat that 100k before you even have inventory
Well the question was if you had $100,000 what would you do with it, and my answer was too invested in these businesses. I agree that it would be very expensive to try to buy one and start it up new, but perhaps I could buy into an existing business. Another option is to use the $100,000 as a down payment on a business loan to create the laundromat business. I see your point, but I was going more for the investment rather than outright buy
I think Pawn Shops should be included in that list as well. People are going to need the money to pay for that stuff.