Every successful journey is paved with mistakes along the way. In this episode of The Laundromat Millionaire Show, Dave & Carla reveal their biggest mistakes while growing their multi-million dollar chain of laundromats. Additionally, stick around for the end and learn the 5 best decisions they made along the way!
Referenced Links:
Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.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
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/
Previous Episode – Our Story: https://youtu.be/NpvRxaWmWaY
Previous Episode – Leaving HappyNest: https://youtu.be/gz0-QaNlAoU
Previous Episode- Delivery Failures: https://youtu.be/tkP_Z-Zyn34
Previous Episode- Staffing Keys: https://youtu.be/FxcHafohi3g
Timestamps
00:00 Episode 110 Intro – Our Mistakes & 5 Biggest Wins
02:13 Framing Our “Mistakes”
07:24 Acquisition Mistakes – Due Diligence Omissions
12:42 Buy or Lease and the Mis-Negotiations
18:34 Basements and Bad Landlords
20:52 Business Model Mistakes – Unattended Stores
25:20 Layout & Machine Mix Regrets
31:41 Folding Space Requirements
35:57 Seating & Flooring Disasters
42:58 Window & Bathroom Re-dos
46:13 HVAC Nightmare
48:25 Targets for Theft & Vandalism
49:55 Marketing Fails
54:55 Keeping Toxicity too Long
57:22 Employee Handbooks & SOPs
1:00:56 Wash-Dry-Fold & Delivery Mistakes – Branding
1:05:03 Software Switches
1:07:05 Service Area, Pricing & Compensation Blunders
1:11:38 Van Selection
1:12:38 Our 5 Biggest Wins!
1:24:27 Final Thoughts