Often people who buy laundromats focus on what they can see with their eyes.  But what about the all the things you can't see?  Such as the online web presence, user names, passwords, and more.  Buyers often overlook claiming their digital keys at the close of escrow.  This mistake can cost you tens of thousands of dollars per year.

 

Speaker 1: 0:00

Welcome to state of the laundry industry with laundry mat , episode 29, the most common mistake when buying a laundromat, one of the most common mistakes that I see when people purchase the laundromat is they never get keys to the digital domain. We're talking about usernames passwords and more. When you buy laundromat, of course, you get the keys to the hoppers, to the vaults, to the doors. That's what makes it official. You got the keys now, okay? The keys are yours. You own it, but the same should be true with your digital presence. And so often I see people so eager, they just see what they see with their eyes. And they forget about the online digital presence and the online digital presence may be the reason why that laundromat is successful or not successful. It is crucial to driving business to your laundromat, to your wash and fold to your pickup and delivery. Can people find you online and you need the keys to your digital presence. And what exactly is that? That is your Google. My business. That's Yelp. That's Facebook. That's any of the business referral websites. So at the close of escrow, you need to be able to log into Google my business to Yelp and to Facebook, you need to be an administrator on there. And so often I see once the dust settles after you purchase the laundromat, you realize like, Hey, the information online is not accurate. The hours are wrong, the phone number's wrong, or I want to let everybody know I do wash and fold or pick up and delivery. And you realize you can't even log into your own Facebook webpage for your business, or you Google my business and you call up the old owner and the old owner they're done. They don't want to hear from you. I'm sorry, but that's one of the reasons why they sold it. It sometimes becomes difficult to get access to your own digital presence. So that needs to be in the contract that needs to be agreed upon. Usually owners will comply with all that, but it's a lot easier to get authorization before you close escrow. What about your website or the URL for your business? We have over 500 clients using curbside laundries washer , fold software, and pick , and our pickup and delivery solution. And one of our clients, they purchased a laundromat for hundreds of thousands of dollars, close to a million dollars. And they never asked about the website. They never even thought about it, but you know, the website's really important for their business, right? And just a couple months after their purchase, the seller let the URL expire. Their website got taken by somebody else. They lost their website. They had to change. URLs is very disruptive to their business and all this because the seller didn't pay $20 to renew the URL or call the new owner up and say, Hey guys, you may want to take ownership of the URL. Let's say it's laundromat.com. It just expired. They lost that website and they had to start all over with their online web presence. So this stuff is serious. It could cost you tens of thousands of dollars per year,

Speaker 2: 2:58

If you lose your online presence. So make sure when you purchase your laundromat, that you keep in mind that you need the digital keys to your digital castle. And at curbside laundries, our software is made specifically for wash and fold because we're laundry owners and we needed a system to keep everything in order. But we also know part of the secret to success is your online digital web presence. So we have workshops and webinars just for our clients on how to build up their online presence. So that way they're successful. So all these videos that you see with all these successful people are growing their business multiple times over a big part of that is because we're consultants, we've done it at our laundromat and you could see from all those testimonials, we've been able to help out a lot of our clients, too. Thanks for watching. If you like to learn more about the curbside laundries point of sale , pick up and delivery solution, check out curbside laundries.com and don't forget to click like or subscribe.