> You know what else works really hard? A washing machine. Hard work alone doesnt create value.
My washing machine creates a lot of value for me. The time it saves me is incredibly valuable.
Most machines that work really hard are valuable because they free up time.
This wasn’t the clever burn you thought it was.
Its a line from National Lampoon's Xmas Vacation.
Value is what you're willing to pay for something.
Laundromats aren't particularly profitable businesses.
Laundromats are the best business there is and are extremely profitable and seldom to never go out of business - you should look this up, it is fairly fascinating.
The laundromats around here closed down years ago. Not a characteristic of extremely profitable businesses.
There are a couple of strip malls nearby that have vacant rentables, vacant for years and years. Nobody has thought to put an extremely profitable laundromat in any of them.
This is anecdotal - look this up outside of your strip malls. It has the some of the lowest failure rates of just about any business and 20-35% ROI