Owning a Laundromat or Car Wash

[Alkie]

When I was a teenager, I was unlucky enough to be friends with the richest girl in the city of El Paso (which is like saying you dated the prettiest girl in the city of El Paso or that you were darkest skinned person in Waco).   I vividly remember a conversation I had with her father one day when I was over to go to some pool party at her house.  Her father always took a shine to me for some reason (I was one of Liz's few friends that wasn't remotely interested in using her for her money I think) and pulled me aside to chat (which he did often when I was at the house).

He said, Graduate style, son, if you want to be like me, remember this:  car washes, parking garages, and laundromats.   You never go to work except to deposit the checks and yell at repairmen and these places print money.   

I never forgot that. 

Well, I'm at a point now where I've got a little money to buy something and I'm considering all the usual suspects; commercial real estate, muni bonds, risky mutual funds, less risky mutual funds, hookers-and-booze, etc and was thinking back to Mr. Superrich.   I'm not even in the galaxy for buying a parking garage, but I could afford a laundromat or car wash in Queens or Brooklyn.

I was wondering if anyone here had even done the car wash/laundromat thing or known anyone who did.   Was it the ATM machine I've been promised?   I get there are repairs and maintenance and negotiations like any business, but it appears to be mostly hands-off and you basically sell air.   What were the drawbacks?  Would you/they do it again?   Was it a mistake?

[Ron Brand]

My dick's bigger. No, really.

[BizidyDizidy]

This sounds like a terrible idea. Please do it and chronicle it here.

[MusicMan]

This sounds like a terrible idea. Please do it and chronicle it here.

+1

[subnuclear]

I always thought having a membership at a laundromat made sense, since 1/3 of the machines are broken because people try to wash carpets and god knows what else in there.  If you could take away the stupid people's membership then everyone benefits since there are more machines and less maintenance.  

The car washes in DC are always packed, but they are the ones where they have a bunch of dudes actually wash your car (plus the automated ones).  That seems like a least as hard as managing a Jiffy Lube or a convenience store.

[subnuclear]

Also, a laundromat that used some sort of debit card instead of change would be awesome (I imagine they exist, but I haven't seen one). 

[Limey]

If you could take away the stupid people's membership then everyone benefits since there are more machines and less maintenance.  

I think owning a laundromat means dealing with all kinds of scum and villainy.

[Bench]

You mean washateria?

/Houston'd.

[sporadic]

My wife worked for a guy that owned two car washes.  Aside from him having massive mortgages on them the guy he had running them was ripping him off to the tune of about $500/week (that is a shitload of quarters).  Needless to say he was/is losing money on the deal.  Although my wife - she was his bookkeeper - thought that if he would take the little time required to properly manage them (basically fire the thief and he or his wife take the time to collect the money) that it would come close to breaking even - even with ~$1MM in mortgages on the two of them combined.

[Ron Brand]

You mean washateria?

/Houston'd.

Washarama.

[JaneDoe]

My friends make a shit load of money from their car washes. Of course it is small town Texas (where everyone drives a car to get around), and it is the only car wash around.

[Astroholic]

When I was a teenager, I was unlucky enough to be friends with the richest girl in the city of El Paso (which is like saying you dated the prettiest girl in the city of El Paso or that you were darkest skinned person in Waco).   I vividly remember a conversation I had with her father one day when I was over to go to some pool party at her house.  Her father always took a shine to me for some reason (I was one of Liz's few friends that wasn't remotely interested in using her for her money I think) and pulled me aside to chat (which he did often when I was at the house).

He said, Graduate style, son, if you want to be like me, remember this:  car washes, parking garages, and laundromats.   You never go to work except to deposit the checks and yell at repairmen and these places print money.   

I never forgot that. 

Well, I'm at a point now where I've got a little money to buy something and I'm considering all the usual suspects; commercial real estate, muni bonds, risky mutual funds, less risky mutual funds, hookers-and-booze, etc and was thinking back to Mr. Superrich.   I'm not even in the galaxy for buying a parking garage, but I could afford a laundromat or car wash in Queens or Brooklyn.

I was wondering if anyone here had even done the car wash/laundromat thing or known anyone who did.   Was it the ATM machine I've been promised?   I get there are repairs and maintenance and negotiations like any business, but it appears to be mostly hands-off and you basically sell air.   What were the drawbacks?  Would you/they do it again?   Was it a mistake?

Car wash n NY is a limited season..correct?

[Rebel Jew]

People in SF, and I'm sure New York as well, are all the fuck over these "Wash and Fold" washaterias, most of whom also offer delivery.  Just say that you use "clean" or "green" or "organic" washing solution and machines and you're set.

Throw down a badass mural like this and you're double set:

http://farm4.static.flickr.com/3610/3678244085_07417ce32d_o.jpg

[HudsonHawk]

Frankly, I'd go with the hookers and booze. 

[Taras Bulba]

I know a guy who had a couple of car washes (one outside of Elgin and the other in Taylor).  Always complained chiefly due to: (1) weather uncertainties--my understanding was that the weather was always out to fuck him personally--and, (2) competition--gas station/convenience stores are trumping him in terms of product and convenience.  My overall impression is that it was a break even deal at best.  I don't talk to him much anymore chiefly due to not wanting to hear about the weather (regardless of its state) fucking him and his car washes.

[T. J.]

Lenny Dykstra owned car washes.

[chuck]

http://farm4.static.flickr.com/3610/3678244085_07417ce32d_o.jpg

Surely that should read Sr Burbujas. No one pays attention to detail anymore.

[hostros7]

People in SF, and I'm sure New York as well, are all the fuck over these "Wash and Fold" washaterias, most of whom also offer delivery.  Just say that you use "clean" or "green" or "organic" washing solution and machines and you're set.

Throw down a badass mural like this and you're double set:

http://farm4.static.flickr.com/3610/3678244085_07417ce32d_o.jpg

Also:
Put in brooklyn
Add bike rack
play indie music
sell PBR in can
Profit

[Limey]

Also:
Steal underpants
Put in brooklyn
Add bike rack
play indie music
sell PBR in can
Profit

FIFY

[Ty in Tampa]

Also:
Steal underpants knickers
Put in brooklyn
Add bike rack
play indie music
sell PBR in can
Profit


FIFY

Limey'd-IFY

[Lurch]

About 5 years ago someone built the simplest of carwashes (two bays, automatic only) near my house on a seemingly cheap plot of land along 183.  I used it a few times and it seemed to do a pretty good job, not too expensive, and usually pretty fast.  I, too, was interested in seeing how well this worked out for them.

I watched it change hands three times and then a few months ago someone stripped it of the carwash equipment and made it a state inspection sticker shop.

Too bad they didn't ask in an Astros' fan forum first.

[chuck]

Also:
Put in brooklyn
Add bike rack
play indie music
sell PBR in can
Profit

You are forgetting vintage video games.

[Alkie]

My friends make a shit load of money from their car washes. Of course it is small town Texas (where everyone drives a car to get around), and it is the only car wash around.

Tell me more.

[Limey]

About 5 years ago someone built the simplest of carwashes (two bays, automatic only) near my house on a seemingly cheap plot of land along 183.  I used it a few times and it seemed to do a pretty good job, not too expensive, and usually pretty fast.  I, too, was interested in seeing how well this worked out for them.

I watched it change hands three times and then a few months ago someone stripped it of the carwash equipment and made it a state inspection sticker shop.

Too bad they didn't ask in an Astros' fan forum first.

About 5 years ago, someone built a coin-op car wash near my old house on N. Gessner.  It had a drive-thru washer plus two (self) hand wash bays.  It wasn't used much, then someone started selling drugs there, then another dealer got upset about that and shot them.  After that he kinda developed a speech impediment.

[Ty in Tampa]

Ask this guy.

[Rebel Jew]

Also:
Put in brooklyn
Add bike rack
play indie music
sell PBR in can
Profit

There's a few places like that in SF-- washeteria/cafes I guess you could call them.  I'm not sure how well they do, but they seem like interesting places the ones I've been to.

[ybbodeus]

Is the moral of the story that boys should always use their female friends with rich dads for their money?

[Astroholic]

This reminds me of a plan that me and my buddies came up with in high school.  Buy a large warehouse, have girls wash cars inside said warehouse..topless.  If your wife or the law (one in the same for me, seems like it anyways) wouldn’t go for it, they could wear white t-shirts.  You can pay me later.

[Gizzmonic]

Or you could make your own version of The Cove and combine laundromat, car wash, delicious restaurant, and bar!

[Col. Sphinx Drummond]

If prop 19 passes in California, Joey should open a place called "Suds, Buds, and Duds." A micro-brew beer bar, cannabis dispenser, and washaeria, all in one.

[Astroholic]

If prop 19 passes in California

Are you sure that is necessary?

[Rebel Jew]

If prop 19 passes in California, Joey should open a place called "Suds, Buds, and Duds." A micro-brew beer bar, cannabis dispenser, and washaeria, all in one.

Sounds awesome!  As Astroholic suggested though, many dispensaries already fit this description just without the laundromat element.  I personally am against prop 19, as are a lot of "pro-marijuana" people I know in California.  People around here and up to Humboldt tend to like the system the way it is, and don't really trust the government to not fuck things up by "taxing" it.

[chuck]

Sounds awesome!  As Astroholic suggested though, many dispensaries already fit this description just without the laundromat element.  I personally am against prop 19, as are a lot of "pro-marijuana" people I know in California.  People around here and up to Humboldt tend to like the system the way it is, and don't really trust the government to not fuck things up by "taxing" it.

I expect Prop 19 to fail due to voter apathy.

[MusicMan]

I expect Prop 19 to fail due to voter apathy.

Well, that just like, your opinion, man.

[Rebel Jew]

I expect Prop 19 to fail due to voter apathy.

Yeah, the prop just hasn't caught fire like its proponents thought it would.  I personally don't want another California vs. the world scenario if it passes, and like I said before, many people think the system is just fine the way it is so why suddenly cede all the power to "local governments?"  And it's ripe to be overturned by a supreme court ruling anyway.  I suppose it might force the issue into the national discourse for whatever that's worth.

[Waldo]

Yeah, the prop just hasn't caught fire

I see what you did there.

[JackAstro]

When I was a teenager, I was unlucky enough to be friends with the richest girl in the city of El Paso

She related to that guy from Horace Pinker?

[Alkie]

She related to that guy from Horace Pinker?

Could be, but I don't think so.   If you're asking your wife, she knows who I'm talking about.  Lebanese-Mexican family that exported "lard" at "increased" "prices."

[hostros7]

Or you could make your own version of The Cove and combine laundromat, car wash, delicious restaurant, and bar!

Not to discuss this topic with any seriousness, but when you starting adding all this bs to a laundromat or car wash it defeats the appeal of the investment thesis, imo.  If you want a car wash, laundromat, etc, the appeal is that it's--in theory--supposed to be similar to a bond.  Very low maintenance and overhead and stable cash flow...basically a low but stable yield.  A business like The Cove can be successful obviously, but it's a completely different value proposition in my mind.

[Col. Sphinx Drummond]

Could be, but I don't think so.   If you're asking your wife, she knows who I'm talking about.  Lebanese-Mexican family that exported "lard" at "increased" "prices."

A Chagra?

[Alkie]

A Chagra?

No, amazingly, I didn't grow up with a Chagra.  But my dad did.