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Old Yesterday, 09:56 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
23,086 posts, read 40,627,964 times
Reputation: 24462

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Commercial laundromat has a lot of liability and environmental exposure . Save some grief, no employees, no schedule / interruptions (as in x-times/ week), internet or cyclical or discretionary business erosion.

Add stability... Varied income streams and flexibility and ease of management, not requiring you own physical contribution (stuff happens... My very successful dad went into FT nursing care at age 49 (severe stroke). Lost (7) businesses which had required his personal management.

Simplify,
decide when enough is enough,
smell the roses (not those on top of your casket)
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Old Yesterday, 09:57 AM
 
Location: North Beach, MD on the Chesapeake
34,219 posts, read 42,825,908 times
Reputation: 43820
Quote:
Originally Posted by urbandweller13 View Post
Curious about the subj. I would like to retire from my corporate job at 45, worst case at 50. I should be on track to do so... but given my significant life expectancy (come from a long line of centenarians) I am figuring I'd like to buy a business at that time. Something that would not consume more than 2-3 days a week worth of attention at run-rate and would generate stable, non-cyclical cash flows for at least 15-20 years. I am interested in ideas - what kind of business is good for that? (i am thinking industrial laundromat) and experiences - did other people do that? What were the unexpected downsides?
One that's successful.
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Old Yesterday, 10:09 AM
 
Location: Pennsylvania
16,602 posts, read 10,555,822 times
Reputation: 29233
I wonder if there will be vending machines in 15-20 yrs.


I'd go with the storage or laundromat; maybe car wash.


I'd suggest rather that one big storage place, several smaller ones. For one thing, you don't want more storage than the local area can use, and you can build one at a time.
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Old Yesterday, 10:36 AM
 
Location: Scottsdale, AZ
8,402 posts, read 5,157,263 times
Reputation: 30880
Quote:
Originally Posted by PAhippo View Post
I'd go with the storage or laundromat; maybe car wash.
Definitely car wash. We talked about this on the Business forum.

But not an ordinary coin-op car wash. Build one with bays for oversized vehicles. Think about how many recreational vehicles there are in your area, not to mention Sprinter vans, work trucks, etc. Basically anything that would exceed the height limitation for an underground parking garage.

I got the idea when I stopped at a car wash in Tehachapi that had a tall bay for big vehicles and a raised platform on one side so you could wash the roof of your RV/whatever as well.
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Old Yesterday, 10:47 AM
 
117 posts, read 102,550 times
Reputation: 110
Quote:
Originally Posted by fluffythewondercat View Post
Definitely car wash. We talked about this on the Business forum.

But not an ordinary coin-op car wash. Build one with bays for oversized vehicles. Think about how many recreational vehicles there are in your area, not to mention Sprinter vans, work trucks, etc. Basically anything that would exceed the height limitation for an underground parking garage.

I got the idea when I stopped at a car wash in Tehachapi that had a tall bay for big vehicles and a raised platform on one side so you could wash the roof of your RV/whatever as well.
My boss bought a car wash with the same plan... The amount of time he is now spending on the phone resolving issues around it is astonishing (we sit next to each other). While i see the theoretical appeal, I have never even owned a car to my name in my life (living in Manhattan) so probably everything car-related I would steer clear of. That said I plan to retire out west, so something RV-geared could be intersting
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Old Yesterday, 11:07 AM
 
Location: NC
20 posts, read 14,104 times
Reputation: 49
RV...car wash...laundering...money...

Have y'all been watching Breaking Bad again?
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Old Yesterday, 11:28 AM
 
Location: nyc
289 posts, read 304,028 times
Reputation: 309
Have you ever thought about investing in dividend paying stocks ?
There's some great ones out there .

No work , just checks every quarter.

IMHO I like Con Ed, Exxon and Apple .
Good luck
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Old Yesterday, 11:46 AM
Status: "Hard work is never easy" (set 9 days ago)
 
Location: Florida/Tennessee
3,214 posts, read 4,472,793 times
Reputation: 1871
Just for reference in a small town in TN. It has a car wash with RV or truck bay, attached to a laundromat, attached to Ace Hardware, attached to a coffee shop with truck rentals and equipment rentals. Rents space for local farmers and has a spot for a food truck. The place is a God send for the town.

A single manger who runs (and hires) the whole thing, and I swear that place is always packed.
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Old Yesterday, 11:54 AM
 
Location: New Britain, CT
818 posts, read 305,030 times
Reputation: 1206
So you want to go from a 40 hour job to a 20 hour job working for yourself when most business owners starting out work 60 plus hours when getting established.

Let us know how that works out.
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Old Yesterday, 11:56 AM
 
792 posts, read 630,054 times
Reputation: 763
I like the storage business. Obviously best if in or near a semi-densely populated area. Little maintenance unless you have 2 or 3 floors then you have to pay for elevator upkeep. How much is commercial insurance for that type of business?
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