Laundromat businesses can generate passive income when properly set up, but require significant initial effort and cannot be truly passive; successful operators can scale from one to multiple locations by first mastering the fundamentals at a single store, and the key to success is learning from experienced mentors who have real students and proven results rather than fake gurus who only show themselves without their students.
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Deep Dive
He has how many Free Laundromats? Added:
our friend Josh. We have OBS. Well, we've taken over this beautiful, incredible cigar lounge.
And uh Josh and I might just buy this place. I'm not sure. My daughter Dory, this is the baby, the 17-year-old that probably shouldn't be inhaling all this cigar smoke. And the star, Josh. Josh has six laundromats, working on seven.
>> And he turns out to be an amazing guy.
The rest is up to Dory. And if you see uh questions, Dory, or you need help or whatever else, or that thing ends up the phone ends up being charged enough, you can get rid of that target. And let me clarify. Yes.
>> Or I've secured the seventh.
>> Okay.
>> We can say working. I I'm going to need your technical ability on the eighth.
Okay, I'll be pulling the landlord on the a cursing him or her.
>> Him cursing him out >> and you know his name is Kim and he's 80.
Don't get us cancelled.
>> I think you know he's going to say >> Mr. Kim Mr. Kim >> to talk to you.
>> Where are your stores >> in the south? In the Gulf Coast.
>> The G Co. You don't want to say specific just what places? What state?
uh Florida and LA.
Although I drove through Mississippi.
That's the thing about laundry mats. I told you how to do this.
>> That's the thing about laundry mats.
Like they are everywhere.
>> Yeah.
>> The opportunity is not gone.
Uh Josh reached out to me. He was very aggressive. I have to say that a lot of people say, "Hey, I'm going to be in Phoenix. I'd really like to meet you."
And most of the time I say, "God, when?"
And then I get a date and I say, "I'm not in town that week. Don't be offended." Uh, I have a lot in common with a lot of people. And even if I don't have anything in common, I would probably love to meet you.
My stores and my story and my family have culminated in a point where I time is the most precious commodity on planet earth. And uh Josh's story collides with mine in many ways. And so I said to myself, self, let's hang out. And it was supposed to be just a quick meet up, have some steak together. and I'm selfish. So, of course, I want to bring his story to you. Uh, please help us out by asking questions on this live. And those questions we will answer uh for you live and we'll also do our best to answer those in the edited version of the sitdown interview we already did. Uh, you're how many drinks in now?
>> Uh, three.
>> Okay.
>> But, and I don't drink. So, let's say that that's six or seven.
>> That's like six or seven. Can anybody can everyone hear him? Okay. Yeah, they're saying you need to speak up.
>> All right. So, >> no, I was >> No, you think he needs to speak up?
>> No, I just said six or seven.
>> Oh. Oh, it's over there doing >> Oh, 67.
>> I forget. 67.
>> The internet is great. If if you're selling beer on television, you can't even show the beer being drunk. So, it's very strange.
>> Yeah. So, we should we should uh you know, pixelate the cigars.
>> Yeah. Right. This is not This is an IPA, by the way. Yes.
>> Here's to you. Thanks for being a friend.
>> Cheers. Absolutely. Absolutely.
>> We're waiting for questions. Tell us about uh store number one. You had not seen Danny's court, >> so you're just thinking what what what made you >> totally uneducated?
>> Yeah. What made you think that this was a good idea?
>> Uh I had had a friend that owned three laundry mats.
He had told me about how amazing that they were. I love how Alabama call them laundry mats. Laundry mats.
>> You're not alam.
>> Listen, I have so many people that call me on the phone and they're like, "Is this a laundry?" And I'm like, "What the?"
Yes, it is. Whatever you want to. You want to call it the laundry, you want to call it the mat, whatever it is, you got >> The short version is Matt.
>> Yes.
>> And I tell people, my email address is danny@free laundrymat.com.
Laundromat spelled properly with an O.
That's all I say. And then I wait. Okay.
Danny at free laundry. L A U N D R Y.
No. Laundromat. Spelled properly with an O. And then I wait for them to say laundry.
Uh, questions from you guys. Seriously, there's a bunch of folks out there. I'm shot out of a cannon because I just came back from 10 days in Canada. My wife Shel doesn't understand why I say it that way, but I just think that's how it's spelled. and we brought my videographer. We visited uh six of you prodigies. That's what I call my operators who are doing this and doing one that stands out is Junior who's got four locations, three locations working on his fourth with me. I'm calling landlords and uh Wade who is probably about to jump on these comments right now because Wade is always in front of his computer. It's funny when you meet people in real life. Uh I thought Wade was going to be more boring than he turned out to be. And I thought Junior was a small Asian man and he turns out to be uh Can you call someone from Well, he's black and I know he wouldn't mind that, but he's from Jama He was born in Canada, Data, but his uh family's Jamaican, so he's got a slight Jamaican accent. And this dude was cool as the other side of the pillow. He was he showed up at his laundromat with sunglasses. He had the Gucci bag, you know, he was and I was like, "Hey, uh, Junior, do you mind taking the sunglasses off for a minute?" No, I thought there might be no problem. He's also a cigar smoker, so that turned out to be very nice. You got water. Oh, you drank it all. All right, good. No, no water bottles on my set. That's my only my only requirement. Uh, keep it close.
You should be hydrating. Definitely hydrate. Okay. So, laundromat number one, how do you get into it? Why do you want to be into it?
What made you think it was a good idea?
>> Well, you know, everybody has heard logic mats are amazing, blah blah blah.
You know, you it's not until you get into it that you understand that there there are some things you need to do to set them up to where they are passively.
>> Yeah.
>> People hear passive income. Passive income doesn't really exist, but you >> if you own and I'm going to interrupt endlessly. If you own one laundromat, it can never be passive. Can you run 10 stores the way you run one? Most people answer that no. When I started my first store like you did, you said, "I need to extricate myself from this location."
It's not a bad thing to to mop the floors. Okay. It's not.
>> But you don't want the every time they get mocked.
>> And that's how Again, I consult with probably 75% of the folks. No, I'm I'm I'm not lying. I'm wrong. Math is not my forte.
90% of the people I consult with want to get into this industry. Okay?
10% already have stores and they only want to make that store better and they hate talking to me because I say, "Forget that store." one store.
>> One store. It It's a joke. It's a hobby.
How much time do you spend? They spend their time. They don't understand that if And then my question is always the same. Can you run 10 stores the way you run that one? What's the answer?
Yeah. No. They say no. Because they they they think that it needs their time.
They think it needs their energy. They think it I'm not here to say it's a passive income opportunity.
>> One location into your like baby that you hover. You you you educate yourself in the first location so you can turn it into 10 location.
>> I would sweep myself out of my stores while the floor tile is not even dry, turn the sign to open and leave. And people don't get that. And a few of my locations went 24 hours within a week.
But that is something that needs to change. And you know from the silly course how you get there when you know.
Uh, I don't keep secrets. If you watch all of my thousand plus YouTube videos, I did a short the other day about gold and silver. I made a hell of a deal through a friend. It's a good short, but the com it went to 99 100,000 views in a day. And the comments are all negative about what a douchebag I am. But they don't realize uh I built that video to get clicks. Yeah. Which is not what I do, but it's about gold and silver. So, I know I'm going to get all these new people coming in and saying, "Who's this douchebag? Why do I want to be like him?
Why do I want to be negative towards him?"
About Now, that short 30 second video has 100,000 views. How many followers do you gather from it?
>> 100,000 views, >> right?
>> How many followers?
>> I mean, on what platform?
>> Uh, YouTube only. YouTube. on YouTube.
He converted what? 1,500 2,000.
>> That would be stellar. 47 people when I checked last. It's only been up for a day. But that's excellent because you know what those people are saying? I want to be like him. I want to learn from him. I want to understand. And they've already clicked on other videos.
You follow? Like it. Here I am talking about verility and I don't have viral content. That's me sitting in my front room talking to my producers's girlfriend. It's not that she's she's attractive, but it's not that we're trying to get clicks that way. It's just, hey, let me talk to you about what I do with the longer mouth.
>> Yeah, but you're saying getting clicks.
You get clicks because you like you have the skill to like there's two things.
You have the course which is amazing and the content that's in the course again is not like the persona that you put on to get clicks. You have to get clicks to get people in to where they short videos because it's me yelling and him yelling back. But that is what you have to do.
>> That's 1% of my personality and it's 1% of my day, right? But that's where people what people want to see. I meet people on the street and they're like, not on the street, but I meet people at trade shows and they say, "I love you.
Uh whether that trade show is about firearms, like the shot show, my daughter is usually the famous one." And now they're coming up to me and they're saying, "Can I get a picture? I'm ready to stand back and take the picture."
Like, "No, I want it with you, the king of laundry." And I'm kind of like, "Yeah, [ __ ] you." My daughter, you know, like I'm I'm a little bit famous in that weird venue, but they always say the same thing. You're so funny. It's not a comedy channel. It's a money channel.
That's really a channel.
They say you're so funny. I saw your videos and like Yes.
>> What did you first think though?
>> You're not going to hurt my feelings.
>> Well, because I've been around because if if you want to get to a level where you're financially independent, which I hope the people that are watching this live, I mean I I if you're watching this live, I hope that you would want to be financially independent. If you if you want to be at that level, you need to watch the people and pay attention to the people that are at that level. And I had paid attention to enough people that whenever I came across you, the blur persona that you have, whatever is real, I knew that you had done the things that you were saying that you had did.
>> Yeah.
not in.
>> This is called Watch Josh. You asked mom, though. There it is. Where'd you go?
I turned the internet off. Zip, zip, zip, zip. All right, you bastards. We have a 900 p.m. reservation at Keelers.
We're live. That's excellent.
Here we go. We had like zero internet connection. Now we've got the We've got the connection fixed. Fast and furious.
We got to pay the bill. We got to get across the street to have some steak.
We're here live with Josh. GF Coast states. Uh, hit us with your questions immediately and you can go back and watch the rest of this and the long form videos. How hot is it in Arizona?
>> It's extremely hot.
>> We're all talking about the rent. Spin it around. Tessa, >> how's it going?
>> That's Tesa.
>> Hello.
>> Tessa, tell us your tell us your life story. Oh Lord, that's a long one.
>> Yeah.
>> 35 years of glory. Doris parents from New Hampshire.
>> Hamampshire.
Beautiful state.
>> If this were a real talk show, I'd pull up a chair.
>> There's many more here.
>> I I built an empire of coin laundromats of all things. Arizona, New Mexico, California. And when I quit, I couldn't walk away. So, I started teaching and training and mentoring people.
>> And my friend Josh here shows up from the Gulf Coast and uh >> begs me to sit down. Yeah. He's got seven seven stores now.
>> That's amazing.
>> Yeah. Very good.
That's the whole story. And don't worry, there's four people watching the live.
All right. So the And did he have anything extra in there that I didn't know about that you thought were being pulled?
>> H nothing. I can go take out the tea because there are some things in there like the Wellers.
>> Wellers. Yes.
>> 100%.
>> Two bl >> talking about scotch.
>> Scotch.
>> Very excited.
>> All right. We're gonna go eat. Okay.
>> I don't have any more BLTons. This is just the one bottle we have open right now.
>> Okay.
>> Um we got for >> actually got different ones or just one >> we have like level 12 single barrel would do.
>> Gosh, why don't you just ask for the most expensive scotch because that's what he wants.
>> Scotch.
>> It's on my No, >> that would be the like Est or something like that. I don't think >> 14.
No, no, he doesn't drink scotch. He likes the good food drinks. Whatever he's asking for.
>> Thank you very much.
>> I gotta get you into champagne.
>> I love >> Yeah. Yeah, I have a champagne fridge at one.
>> How about steak >> next time? What?
>> How about steak?
>> How about ready for steak? All right, we're going across the street.
>> Let's do it. Uh, we had some technical difficulties, but we love you all. This is Josh is a prodigy. Oh, I have a gift for you, Josh.
That we can do on camera. Everyone >> set free >> got a gift from Danny. Now, this is my not your gift. This is my ounce of silver I always carry.
>> All right.
>> This is my first ounce of gold.
They're the same weight, but different sizes, obviously, because the densities of metal.
>> Absolutely.
>> I paid uh $411 for this ounce. How many would you buy at that price? Right.
This doesn't really matter. Uh this is a Canadian quarter that I picked up on the floor at Wade's store after we interviewed Wade this week. I've been bringing more and more prodigies onto the channel because I want to prove that the fake gurus are fake. They don't have prodigies. They don't have people. They sell a course for anywhere from $25, which is a pamphlet to $10,000. That's their course. $10,000. What do you learn? I've spoken to people who get this course and I say, "What'd you learn?" There's a pause. Then they either shoot themselves or they jump out the nearest window. They don't learn anything. I'm I'm being serious. Hand to God. Right. Well, I I I was told to go chase laundromat operators and offer them my money to buy their store. Please don't buy a laundromat." So, I found this quarter in at Wade's store on the floor. This is your quarter.
This is from my stores. When we collect, we know that when we hear silver, we always know the silver. There's less and less of it coming available. What year does that say?
>> 1947.
>> 1947. That quarter has been in circulation since 1947. What do I mean?
Someone put it in my machines. That means it was in circulation. Maybe they robbed grandma's piggy bank. Maybe they didn't. They obviously didn't know it was silver, but 90% silver has been in circulation uh until 1964 and a half.
And that coin is now yours. Now, it's been in circulation because I took it out. I put it in my pocket. I've been carrying it for about six months. And now it's yours. Thank you very much.
>> Thank you. Thank you for doing this. A steak and a bunch of drinks is not worth your time. Time is the one thing you're not getting anything more of. Tell the people at home the one thing you want to say so we can pay the bill and go eat steak.
The one thing that I want to say is is like he said with the fakers and not having people like what you the you see the videos of them dumping out their sack of cash with their counting machine but they never show their students. He shows their students. He shows the videos, the phone calls with them. like he has proteges, he has people that have learned from him and I'm an example of one of them and I make an extremely successful living uh thankful for a lot of the skills that I've learned from you and uh you know these like you you show you back up what you teach by showing the the fruits of that, you know, these people that you see on the internet like where are their students? What you know where like anybody can go get money from the bank and shove it in a bag and go buy a $200 money counter from Amazon and count their money and say I own the lottery.
>> Yeah.
>> You know that. And I I I hate to be a negative Nelly, but you know, my my boots, I get so many compliments on these Gators and I'll say, "Great." And they're like, "Where did you get those?
They want to go buy one." Well, I got them at Goodwill and I couldn't believe they fit me. My favorite pair of boots.
Can I afford to get them resold? Yeah, but I don't have the time to wait for them to get resold. I have the money. I love these boots. And that's that. It's not about the money you spend. It's about the time it takes to make everything better. These the laundromat business is phenomenal. I hate people that buy them and I hate even more the people that say you should buy them. You you're you're I don't hate the people that buy them. I despise the fact that the universe is saying go out and buy one of these stores.
>> Yeah. Because the one I told you before the the one that I did sell was a prime example of what you teach not to do.
>> Yeah. You put 400,000 in the bank and the guy that you were walking away from some cash flow, but that gives you >> you can buy a free mat and you can sell it to the people that buy other people's courses.
>> With that, my daughter Dory is dying and we're going to go eat some steak food.
God bless you all.
>> Thank you kids. Here's Dory, my baby.
Love you all. Thank you, Josh. Shake my hand, brother.
Like, subscribe, and do all the things.
Adios, kids.
I don't know how to end
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