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Laundromat Due Diligence Framework
https://laundrygrove.gumroad.com/l/laundromat-due-diligence ↗Their other posts in the index, biggest breakout first.
Everything we did in month one that broke the all time revenue record. We broke the all time revenue record in our first month of owning this business. I'm gonna share exactly what we did. Before we even closed, we spent months in due diligence finding every dollar that was being left on the table. Misrepresented or missing expenses, margins that hadn't been optimized. I fixed it all before we even closed. That work alone changed the financial picture completely. I'm gonna create a full breakdown of the playbook that I ran here to share, so follow along so you don't miss its release. Next, on day one, I invested in all the equipment I'd need to be able to launch a wash and fold service. And we launched it within three weeks. We didn't wait and got that going immediately since waiting would have been leaving money on the table. There was a clear need in the area and the incremental revenue there helps keep the machines turning. Next, we got every single machine running. Machines that had been down for months were costing the previous owner customers every single week, cause no one wants to see out of orders signs everywhere. We added a vending machine for incremental revenue as well. Convenience drive sales and every dollar a customer is spending with you is a dollar they're not spending somewhere else. We launch marketing efforts immediately to get the word out about the new owners, the renovations and the new services. We didn't wait until we felt established. We marketed like we had something worth knowing about because we do. Revenue growth, operations efficiency, and margin enhancement. These are some of the key concepts from corporate that I'll be sharing more about as we go, so follow along to learn how to apply them to your business.