The Complete Guide to Buying a Laundromat Business: How Much They Cost & How to Run Them | Tom Donnelly E333

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Is laundromat investing the most underrated business model out there? In this episode of The Rich Somers Report, Rich sits down with Tom Donnelly, a full-time entrepreneur and laundromat owner, to break down how he went from a W-2 job to building a profitable, semi-passive business—and why more real estate investors are eyeing laundromats as their next cash-flow play.
Rich and Tom discuss:
How much laundromats really cost and how to finance them creatively
Why seller financing is common—and how to structure it to your advantage
What makes a location profitable and how to avoid the #1 mistake new buyers make
Key operational metrics like “turns per day,” app-based payments, and revenue from wash-dry-fold
How to increase cash flow with add-ons like vending, lockers, dry cleaning, and even digital slot machines
Tom also shares how he doubled the revenue on his first deal with just $17K out of pocket, the importance of local market research, and why owning the real estate can dramatically boost returns. Whether you're a beginner looking for your first cash-flowing business or an investor ready to diversify, this is your crash course in laundromat ownership.

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