Today’s episode we have Dave “Laundromat Millionaire” Menz. Dave is a laundromat industry veteran and the owner of the Queen City Laundry Chain of Laundromats in Cincinnati Ohio. Dave’s inspirational journey from poverty to becoming a millionaire has inspired many entrepreneurs to try and overcome their own obstacles while building wealth. He’s here to share some of the secrets to his success. Dave is the host of The Laundromat Millionaire Business Podcast and the author of the book “Laundromat Millionaire”, to be released in late 2021.
In this episode we discuss:
- Introduction to episode [1:27]
- Dave’s humble stereotypical childhood [2:50]
- How and when did the entrepreneurial bug hit him [4:40]
- Worked at Corporate America for 12-13 years, got promoted five times [9:00]
- How did he get into the laundromat business [10:15]
- Getting mentorship through podcasts and other resources [13:55]
- Learnings he had when doing laundromat business [18:10]
- Have a mentor/coach that will lead you to process is essential [20:50]
- Getting the ‘Shiny Object’ syndrome as an entrepreneur [23:12]
- What his adversities taught him and how he breakthrough [24:28]
- How did Dave handle the process of financials in the laundromat business [27:58]
- Determining the right location for your laundromat business [31:20]
- Doing a national revenue partnership with other laundromat owners [34:40]
- Dave’s suggestions in buying laundromat business [36:00]
- Laundromat Millionaire podcast and book [42:38]
- To have a coach/mentor to lead you through the process of any business or any industry, especially before you even close on it, is an incredibly powerful thing.
Links to sources and tools
Listen to other PTSS Episodes
- Life Coaching, Business Scaling for Company Executives and Entrepreneurs with Daniel Marcos
- Attract Clients and Grow Your Business using Written Words with Aurora Winters
- How AIM Framework is Useful for People and Business with Michael Roderick
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