Pole! how many owners

[bodman]

Have another job or own 2 mats?

[Laundry_Mike]

No place to vote on your "pole". I have another job.

[galaga]

I have 3 laundromats,an arcade game business,rental business,a full time job and .......my real job offer 6 weeks vacation,I spent a lot vacation time working when I start my business a few years ago.

[Duane]

The laundromat is my only job.

Only one mat at this time.... Would like another.

[amartlock]

Own 1 mat, have an offer in to purchase another. Have full-time job as well. Hoping to acquire enough mats in the next 10 years to quit my full-time job.

[neal]

We have 2 laundromats and looking for others at the right price. So I have 2 fulltime jobs

[Scott9876]

This isn't meant to be flip, but how many mats do you have to have to quit your full-time job? I own four rental properties. When I bought my first one, I thought it was the road to independence. However, after 3 years I'm more of a slave than independent. I have a full-time job and am looking at a mat around the corner w/4 apartments, but now not so sure. Seems with rising taxes & utilitiy bills it's only more work and you just run in place.

[Howard]

You can quit your job when you have one laundromat, if it is the right one. You can own 10 laundromats and need to work two jobs in addition to them if they are the wrong ones. Just like any other business, some do really well and some don't -- you cannot make generalizations.

It also depends on how big a store you are talking about and how much money you need to make. A store that nets $50K may be enough for one person to quit their job, but one that nets $250K may not be enough for another person.

I guess you need to come up with an estimate first of how much money you require to quit and then back into how much in revenue you need to generate that and how many stores of what size that comes out to.

[Scott9876]

I guess it is a matter of pricing your machines so they keep up with expenses. I'm having trouble pricing rents to keep up with utilities and the friggin' property taxes, both of which I have no control over, without pricing the apartments out of the market.

[galaga]

Some business have good cash flow in the beginning,a lot don't have good cash flow until you pay off the business.If you have too big loan payment,you won't see any cash flow.
If you like what you are doing,believe your direction,you won't feel it is job or slave to your business,you may not able to quite your real job this year but if you don't start,you will never quite your real job.
I spent a lot vacation time from my real job remodel my laundromats,rental house but I know I am building my furture,mybe early retirment,game business is my hobby too,so I don't really feel I am "working".I have to deal with radioactive materials and out of town once a while in my real job but I like my real job,as long as they still pay,I will work !
Running business is not for everybody,when I was oversea,I was still thinking about my laundromat,emailed my helper every day,even I was on the boat ,customers still called my cell phone want to buy game parts,I don't feel slave to my business.When I was in Hong Kong,I was checking out the laundromat there.
Can I quit my real job now?Yes but nice pay check and benefits are very hard to walk away.

[Scott9876]

Can I quit my real job now?Yes but nice pay check and benefits are very hard to walk away.

Amen to that! I would like to run unattended so I can keep my pay check and benefits, but it would kill me the first time I walked into the store and there was vandalism. My mortgage broker is looking at the property with just income from the apartments so I might keep the laundry closed until I can set it up to run unattended and safe.

[PeterH]

Fulltime job in corporate America plus 2 stores. Currently working on #3 and then it'll be quitting time at the fulltime job. Can't wait to be a fulltime laundry tycoon!