CLA Connect Open Forum

Local Mentors

  • 1.  Local Mentors

    Posted 10-09-2018 14:12
    Are there any owners that live in the Chicagoland area that is willing to mentor me?  I have been looking to purchase a laundromat for the past few months.  Only people I trust is my Attorney, CPA and all the good advise that I read on this forum.

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    Nathaniel Sowell
    Store Owner/ Employee
    Flossmoor IL
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  • 2.  RE: Local Mentors

    Posted 10-09-2018 21:56
    In GODFATHER do we TRUST....

    thats the unofficial motto of this forum.

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    ORIGINAL GODFATHER
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  • 3.  RE: Local Mentors

    Posted 10-09-2018 22:29
    It would be nice for new laundromat owners to chime in (less than 3 years). I think there can be value in "industry newbies" sharing their war stories and growing pains.

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    Maxim M
    Learning the game, asking lots of questions
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  • 4.  RE: Local Mentors

    Posted 10-10-2018 22:29
    .    Most successful and knowledgeable owners would be foolish to mentor a potential competitor. You help someone out and two years later he's using your information and skill to build a Laundromat three blocks from yours.
         Does your attorney, CPA or banker work for free?  Probably not. Knowledge is power and seldom gotten for free.
         Old birds, the naive, the newbie, the retired and a few lonely owners who appear at times to rant too much and spell too little are frequent contributors to this blog.
         You need to learn enough about the business to be able to depend on yourself and not the "free" advice of others.
         Would you hire an attorney for your business who used the bizarre language  you see in some contributions to this blog?
         Read the blog but also go out every weekend and visit Laundromats. A high percentage of potential buyers haven't used a Laundromat in 20 years. Your eyes will open wider each time you visit another location.
         Get the information from the CLA and read it, no study it. Get the books, tapes, CDs available from other sources and study them as well.
         Don't be afraid to pay someone to assist with your due diligence or analysis before purchase, and not rely only on the guy/girl looking to make a commission on the sale. You can also go to my website at Laundromat123.com where you will find tips and suggestions that might be useful. Hope this helps.

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    Larry Larsen
    Distributor Employee
    Laundromat123.com
    Anaheim CA
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  • 5.  RE: Local Mentors

    Posted 10-10-2018 23:20
    Edited by Juan Vazquez 10-10-2018 23:21
    ^^^ Larry makes some valid points.  There is alot of information that you can extract and use from this and other similar websites

     I don't however agree with Larry's postulation regarding training a possible or potential competitor. While I can sort of see his point, the realities are

    1. This is an easy yet difficult business to own & manage.  You could give a newbie or anyone the perfect plan but we're all different.  The biggest challenge would be to have said person have the exact level of commitment, understanding, intensity, dedication, funds, etc that are needed to make it a success.

    2. Equally as important is as an owner, any owner that is on top of his / her game will not let that happen.  There is always going to be competition and / or someone that might want to take your business or bump you off the number 1 spot.  Complacency & lack of attention are always part of that equation.  If the owner let's that happen whose fault is it really?  The mentee or the owner that should have the experience, knowledge, funds, & wherewithal to stay on top?

     But this is nothing new.  This basic strategy applies to essentially all businesses.  Look @ Sears.  They are on the verge of BK.  Think Blackberry, ​the Detroit big 3 for instance, or GE.  They all let that happen to themselves due to bad management or plain old arrogance.

     Another responder doesn't help the OP's cause either by then requesting to hear back specifically from other newbs hoping that they can better relate I surmise.  But that demographic is either too busy running their new businesses or keeping them afloat or are not part of the regular crowd that posts on this forum.

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    Juan
    Store Owner/ Employee
    Cocoa FL
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