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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

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.

toomuchtodo 4y ago
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.
- NeoTar 4y ago
  Laundries/laundromats are still a thing? I would have guessed they were a dying industry.
  - toomuchtodo 4y ago
    $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.
    - gregsadetsky 4y ago
      Fascinating, didn’t know about dry cleaning. Found this article: https://www.npr.org/2021/03/31/982953808/coronavirus-pandemic-upends-the-dry-cleaning-industry https://www.npr.org/2021/03/31/982953808/coronavirus-pandemi...
  - Overtonwindow 4y ago
    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!
upsidesinclude 4y ago
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
- Overtonwindow 4y ago
  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
blinding-streak 4y ago
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.
- Kaibeezy 4y ago
  Brainwash SF RIP https://brokeassstuart.com/2017/12/12/eulogy-brainwash-cafe/ https://brokeassstuart.com/2017/12/12/eulogy-brainwash-cafe/
  - Overtonwindow 4y ago
    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.
MerelyMortal 4y ago
I think Pawn Shops should be included in that list as well. People are going to need the money to pay for that stuff.

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.

toomuchtodo 4y ago

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.

NeoTar 4y ago
Laundries/laundromats are still a thing? I would have guessed they were a dying industry.
- toomuchtodo 4y ago
  $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.
  - gregsadetsky 4y ago
    Fascinating, didn’t know about dry cleaning. Found this article: https://www.npr.org/2021/03/31/982953808/coronavirus-pandemic-upends-the-dry-cleaning-industry https://www.npr.org/2021/03/31/982953808/coronavirus-pandemi...
- Overtonwindow 4y ago
  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!

upsidesinclude 4y ago

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

Overtonwindow 4y ago
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

blinding-streak 4y ago

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.

Kaibeezy 4y ago
Brainwash SF RIP https://brokeassstuart.com/2017/12/12/eulogy-brainwash-cafe/ https://brokeassstuart.com/2017/12/12/eulogy-brainwash-cafe/
- Overtonwindow 4y ago
  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.

MerelyMortal 4y ago

I think Pawn Shops should be included in that list as well. People are going to need the money to pay for that stuff.