The Laundromat Millionaire Show with Dave Menz Dave "Laundromat Millionaire" Menz

First StarchUp, then LaundroWorks, what's next for Cents? In this episode of The Laundromat Millionaire Show, Dave & Carla interview Alex Jekowsky, CEO & Co-founder of Cents, to discuss the evolution of technology in the laundromat industry, the mistakes Cents has made along the way and their plans for the future. 

Referenced Links: 
Cents Website: https://trycents.com
Spotlight – Hydro Perfect Pour Website: https://www.hydrosystemsco.com/markets/laundromat.html
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Episode with Hydro Perfect Pour: https://www.youtube.com/watch?v=LTz_7kC-vgQ
Forbes 30 Under 30 with Alex Jekowsky: https://www.forbes.com/pictures/5dcf200de0af7b0006b1754a/alex-jekowsky-24-ethan-du/?sh=dc0e5321b0b5

Timestamps
0:00:00 A Special Thanks to Our Followers
0:04:10 Service Provider Spotlight – Hydro Perfect Pour
0:05:24 The Laundromat Millionaire Show Intro
0:09:20 How, Why & For Whom – the Backstory of Cents
0:15:23 Owning Stores as a Vendor
0:18:47 Progression to an “All-in-One System”
0:26:19 The Technology Evolution in the Laundry Industry
0:31:54 Mastering One Area of Your Business & Customer Retention
0:35:47 Competition Makes Us All Better
0:38:59 The Cents Team – Responsiveness and Training
0:42:46 How Alex Defines “All-in-One Management System” 
0:50:03 What’s Next? Selling or Here to Stay?
0:52:55 Mergers & Acquisitions – LaundroWorks & StarchUp
1:00:10 Raising Funds for Cents
1:12:15 Google Integration & Self-Branded Apps for Delivery
1:14:44 Final Thoughts

As insurance premiums continue to rise, are you sure your business is even covered? Are you paying for coverage you don't even need? Are items missing from your policy that could cause you devastating losses? Larry Trapani & Joel Blitzer of The Laundromat Millionaire Insurance Program join Dave & Carla on this episode of The Laundromat Millionaire Show to discuss these questions and more. This is a must-listen episode for every laundromat owner!

Referenced Links: 
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Episode with Brian Grell: https://youtu.be/NLcTQ-3eA20
Episode with ADP: https://laundromatmillionaire.com/laundromatmillionaire_videos/stress-free-payroll-solutions-w-justis-mullins/

Timestamps
00:00 Service Provider Spotlight – Aura Detergents
01:35 The Laundromat Millionaire Show Intro
02:36 Decades of Experience Insuring Laundromats
11:26 The Changes in Agent and Broker Training
14:17 How a Broker Protects You
16:32 Rules on Switching Policies
20:22 Increasing Premiums and Refusals to Insure
23:48 What Owners Can Do to Mitigate Risks
28:55 How Your Business Model Affects Your Premiums
32:25 Common Reasons Laundromats are Mistakenly Underinsured
39:55 The Right Size Deductible and Avoiding Small Claims
41:31 Insurance on Loss of Business
43:00 Insurance on Loss of Cash
43:52 Misclassifications on Insurance Policies
48:07 Events Your Broker Needs to Know
49:28 Bailee Insurance Coverage – What Is It & Do You Need It?
53:19 Dangers of Only Shopping Price
55:44 Worker’s Compensation Insurance
57:00 Final Thoughts

If your laundromat is so busy people are turning away, does that mean it's time to expand? Do you need more space and more equipment or is there another solution? When is the right time to invest in more equipment or even another location? Listen as Horace Lewis shares his laundromat journey with Dave & Carla Menz and they discuss this often debated topic.

Referenced Links: 
Xpress Laundromats Website: https://www.xpresslaundromat2.com/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/

Timestamps
00:00 Service Provider Spotlight – Laundromat Millionaire Insurance
01:40 The Laundromat Millionaire Show Intro
03:08 Horace’s Backstory: Finding Opportunity in a Recession
09:18 How Jobs Prepare You to be an Entrepreneur
14:35 From Real Estate Investor to Gaming Machines to Laundromats
18:52 Finding a Great Location
22:57 Getting the Store Open and Marketing to the Community
28:23 When Should You Buy More Equipment?
42:38 Incentives for Slow Days
43:46 Finding a 2nd Location
49:01 Changing the Stigma of Laundromats
52:07 Next Steps for Horace
52:33 Adding Skill Games to a Laundromat
54:00 Closing Remarks

Is that "Free Laundromat" really free? Yannick Tuwamo, owner of The Soapbox Global Laundry in Columbus, Ohio shares his journey into purchasing his first laundromat, the challenges and his advice for others looking to enter the laundry industry. Follow along in this interview with Dave & Carla Menz on The Laundromat Millionaire Show, pull out the "golden nuggets" to help you enter the laundry industry, find the right deal and create a profitable community resource!

Referenced Links:
Yannick on LinkedIn: https://www.linkedin.com/in/yannick-tuwamo-98577641/
The Soapbox Global Laundry Website: https://sbglaundry.com/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Our episode with Brett Lyon:  https://youtu.be/PxbmxlsWcOw
Dave Menz on Bigger Pockets Business: https://www.biggerpockets.com/blog/biggerpockets-business-podcast-56-dave-menz
Our episode with SanOWash Ozone: https://youtu.be/uba2xsLJh_E

Timestamps
00:00 Service Provider Spotlight – LaundroBoost
02:18 The Laundromat Millionaire Show Intro
04:43 Yannick’s Backstory – from Real Estate to Laundromats
15:01 Why Buy a Laundromat? Where Do You Start?
17:55 What it means to “Take Action”
19:42 The Zombiemat and Selling Your Vision
27:23 The Renovation and Its Challenges
31:33 The Real Cost of a “Free Laundromat”
33:26 His Store Today
35:27 Creating the Right Mix of Machines
38:00 The Payment System
40:58 Improving Reviews
43:03 WDF, Delivery & Dry Cleaning
44:34 Pricing for Machines & Services
46:34 Challenges with Adding WDF
47:49 Advice for Newbies Entering the Industry
51:07 Yannick’s Future Plans
53:02 Closing Remarks

"If we don't get on board, we're going to be left behind!" Jordan Berry, from the Laundromat Resource, joins Dave & Carla Menz to discuss the current trends in the laundry industry, the threats we need to prepare ourselves for, and a call to action for all laundromat owners to help each other succeed. Also, learn the reasons behind Jordan's recent sale of his first laundromat, the signs you may be ready to sell, and his plans for the future of the Laundromat Resource platform. 

Referenced Links: 
Our Magazine Jukebox Discount Page: https://needmagazines.magazinejukebox.com/laundromat-millionaire
Laundromat Resource Website: https://www.laundromatresource.com/ 
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Our previous episode with Jordan: https://www.youtube.com/watch?v=q0-b0GtoaOQ 
Dave’s episodes on Laundromat Resource Podcast: https://www.laundromatresource.com/show140/ and https://www.laundromatresource.com/show45/ and https://www.laundromatresource.com/show80/ and https://www.laundromatresource.com/show2/ 
Episode with Andrew Cunningham: https://www.laundromatresource.com/show43/ 
Episode on Hydro Perfect Pour: https://www.youtube.com/watch?v=LTz_7kC-vgQ 
Moneyball clip: https://www.youtube.com/watch?v=aNDj-H1jxV0 

Timestamps
00:00 Service Provider Spotlight – Magazine Jukebox
00:49 The Laundromat Millionaire Show Intro
03:14 Downsizing – When to Sell Your Laundromat
15:11 What is the Value of Your Time?
21:52 Would You Buy It Today?
25:22 Jordan’s Next Steps – Sales & Investments
26:45 Keeping Up on the Data or Get Left Behind
32:11 Current Trends in the Laundry Industry
40:56 The Results from Ignoring the Data
43:43 What We All Can Do – Stronger Together
49:05 Free & Paid Resources through the Laundromat Resource Platform
57:26 A Call to Action
59:07 Final Thoughts

Interested in FREE Entertainment for your customers?? Looking for another way to differentiate your business from the competition?? Scott Janney, Co-Founder and CEO of Magazine Jukebox shares the story behind his innovative new product and Dave & Carla share its impact after months of use in their stores. Learn about the free option or for a small monthly investment, a way to add another form of marketing for your business. Be sure to stay tuned for the special discount for our followers!!

Referenced Links: 
Our Magazine Jukebox Discount Page: https://needmagazines.magazinejukebox.com/laundromat-millionaire
Scott’s LinkedIn: https://www.linkedin.com/in/scottmjb/
MJB Website: https://magazinejukebox.com/
Our Website: https://www.laundromatmillionaire.com
Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
Our Podcast: https://laundromatmillionaire.com/podcast/
Our Facebook: https://www.facebook.com/laundromatmillionaire/
Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire
Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
Our Instagram: https://www.instagram.com/laundromatmillionaire/
Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
H-M Company Drain Troughs: https://www.draintroughs.com
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
WDF & Delivery Workshops: https://laundromatmillionaire.com/pick-up-delivery-workshop/
All State Insurance – Janney Company: https://agents.allstate.com/janney-agency-llc-chesapeake-va.html
Dot Dash Meredith Publishers: https://www.dotdashmeredith.com
Simple Thread: https://www.simplethread.com/

Timestamps
00:00 The Laundromat Millionaire Show Intro
00:18 Topic Overview
01:31 Scott Janney’s Entrepreneurial Journey
07:40 The Idea Behind Magazine Jukebox
10:59 Getting Buy In From Publishers
14:54 Expanding to Laundromats
16:57 What is Magazine Jukebox and How does it work??
23:33 Creating a Market Differentiator for Your Store
27:10 Why Geofence the Location?
28:56 Free versus Paid Plan
32:00 Advertising Opportunities
35:17 Our Experience with Magazine Jukebox at Queen City Laundry
45:33 Increasing Marketing Lists
48:12 Wifi Not Required
48:45 Options in Other Languages
51:21 Additional Features Coming Soon
52:15 Closing Remarks