Dave Laundromat Millionaire Menz is a passionate Entrepreneur, Husband, and Dad from Cincinnati, Ohio. He is the owner of the Queen City Laundry Chain of Laundromats and the author of the “Laundromat Millionaire.” Dave grew up in poverty, worked his way into a corporate career, and then eventually took the plunge into starting his own business. He purchased his first struggling laundromat off of Craigslist, and began to turn it into a cash-flowing multi-million dollar asset.
Having fine-tuned his operations over a decade, surrounded by his Rockstar team, Dave is obsessively driven to help, teach and inspire others. Today, he hosts his own podcast and speaks the good word of the Laundromat business to aspiring entrepreneurs.
This Episode’s Heavy-hitter’s:
Dave’s entrepreneurial journey began one day when he was getting ready for his job at 5 AM. He looked himself in the mirror and said “you’re a sellout.” He realized that he had abandoned his childhood dream and purpose to become an entrepreneur.
Dave says that his former career as a bouncer served him well when taking over his first Laundromat in Flint, Michigan. Once he made the place safe and comfortable again for customers and had many of the machines fixed, he started turning over profit quickly.
Within just a few weeks of opening his first laundromat and turning things around, people from the community were coming up to Dave in tears, thanking him for cleaning up “their” laundromat.
The second location was actually negotiated after Dave was in the laundry business for about 8 months. Dave pitched the owners of a rundown laundromat and ended up leasing the business to turn it around for them.
Dave rewrote his book “Laundromat Millionaire” seven times before releasing it. He started writing it to get across a story that was weighing on his chest and would rewrite it each year, changing the intentionality each time.
Check out Dave's book: www.laundromatmillionaire.com
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1:43 - Growing up and becoming an entrepreneur
2:40 - Dave's parents
5:02 - Balance in Parenting
6:40 - Leading by example
7:00 - Early days in Corporate America
8:34 - The Aha Moment
9:30 - Process of getting there
13:57 - Evaluating different ideas
16:14 - Laundromat from a Business Perspective
20:30 - Professional Relationships and launch of first store
22:40 - Evolution of Dave
24:00 - Learn something on the way
25:56 - Early tough lessons learned
27:55 - Reaction of the Community / Community Building
29:52 - Self service Laundry Business
32:19 - Expansion of the Business
35:56 - Value added
36:29 - Learning Curve
40:40 - Self service Element
43:57 - People Leader
44:23 - Lessons from Corporate America
46:10 - Best small business
48:17 - Impetus behind the book
50:19 - Who is the book/podcast for
52:50 - Greatest piece of advice
54:00 - Dave's Super Power
54:47 - Dave's North Star