MOBILE METH SUSPECTS LAUNDRY BURGLARY OF $300 LEADS … · 2016-12-05 · burglary, theft and...

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MOBILE METH LAB EXPLODES IN

ILLINOIS LAUNDRY; SUSPECTS

APPREHENDED.A mobile meth lab exploded inside an Illinois laundromat, and two suspects have been charged.

The incident occurred about 7:50 a.m. Fortu-nately, there were no injuries reported.

The Police Chief said surveillance video shows people coming into the business with items that could be used to “cook” methamphetamine. The laundromat is open round-the-clock, but does not always have staff on the premises.

“It appears they came into the business to have a controlled environment, but when they started cooking, things went bad and it exploded,” the Chief said. “They dumped it outside and fl ed.”

Later that morning, around 11:30 a.m., Police Officers located two people matching the description of the subjects in the video walking in an area not far from the laundry.

The two were questioned and then arrested on charges of possession of methamphetamine materials, and subsequently booked into the County lock-up.

The Police Chief has said additional charges were pending.

LAUNDRY BURGLARY OF $300 LEADS TO QUICK ARREST

A New Jersey man was arrested for allegedly stealing $300 in cash and damaging property at a local Laundromat, police say.

The suspect, a 23 year old, was charged with burglary, theft and criminal mischief in the incident, according to authorities.

Local police were called to the laundromat for a burglary complaint. They quickly discovered that someone had forced their way into the building, broke a door to a secure area and took the cash.

Although Police were tight lipped about how they uncovered that the man they arrested was the one involved in the burglary of the laundry, they were quick to remind everyone that it’s important for citizens to remain vigilant, and watch for suspicious activity in their neighbor-hoods.

Local fi refi ghters did not fi nd much damage or evidence of a larger fi re, but enough concern was generated that the bomb squad had to be called when a metal lunch box was found, and the laundry and adjacent restaurant had to remain closed most of the morning. It appears the suspect have no connection to the laundry or other local business, but merely had assessed the laundry as a clean and quiet place to use. Obviously, they didn’t take the laundry’s video surveillance into consideration.

December2016

COIN LAUNDRY NEWS • DECEMBER, 20162

Published monthly. Mailed to laundry owners, vend suppliers, manufacturers, insurers, parts suppliers, repair technicians and distributors of laundry equipment.

The News neither endorses nor recommends any specifi c products or distributors.

By White Star Laundry, Inc. Publishing, which is solely responsible for all content. The publisher reserves the right of approval of all material and advertising.

Our street address is 28125 Bradley Rd Ste 250, Sun City, CA 92586-2248. Address for mailing is White Star Laun-dry, Inc., P.O. Box 2175, Sun City, CA 92586.

Advertising rate sheets are available on our website at www.clnews.net or can be mailed upon request.

Phone: (951) 219-7076 Fax: (951) 301-7643 E-mail: [email protected]

Lionel J. Bogut – PublisherDavid C. Bogut – OperationsNancy Temple – Circulation &

Advertising Manager.

Closing date for each issue of the News is the fi rst working day of the month preceding the month of issue.

I can’t be the only one who notices that as we get older, time seems to pass by more quickly. This year seems to have flown by. But it’s been a good year for us here at The NEWS, busy and productive.

I know I have mentioned several times this year in the space, but one of the genuine bright spots for us has been the consistently increased traffi c we see going to our website. And perhaps the most intriguing aspect of that has been the number of people who come to the web site and then request a printed (hard copy) subscription to our magazine.

It’s interesting, and seems to go against the tide of what we read about print media overall. Even the vaunted New York Times is losing subscriptions. But we think we know why we are actually gaining subscribers. Because our goal has always been to write brief and to the point articles with “hands-on” advice, The NEWS is something a vended laundry owner can take out of his mail box, toss into the back or utility room of his laundry, and then retrieve and glance at, over and over again throughout the month. And we know this is often the case because readers have told us this for many years. An owner comes in to collect his machines and reload his changer or card machine, fi nishes a little ahead of schedule, sees his copy of Coin Laundry News sitting there, and picks it up.

We’d like to think of The NEWS as an old familiar friend, not pushy, but quietly there for you when you need it.

Of course, we can’t overlook that much of 2016 was preoccupied with what will go down in history as one of the most divisive Presidential elections in history. But now it’s more than a month back there in the rearview mirror, and here’s our advice, whether how this particular contest played out made you very happy or very unhappy: The ultimate success of your coin or card laundry business depends far more on you than it does who is living at 1600 Pennsylvania Avenue, or who’s posteriors are shining seats in the Halls of Congress or collecting splinters on the Federal Bench.

Success, or failure, is yours to defi ne. How will you defi ne yours in 2017?

COIN LAUNDRY NEWS • DECEMBER, 2016 3

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Shortly before the beginning of World War II, two well known manufacturing companies, Westinghouse and Bendix, each had patented designs for a single load household washing machine that was loaded from the front. This design was common in Europe, but for some reason or another, had not yet been patented here. So these two companies did. Later, both saw that it would be an advantage to use the other’s design as well, and so they cross patented one another. Both, prior to the war, began manufacturing small front loading automatic washers designed to sell for home use and later for use in coin and service laun-dries.

These patents kept other appliance mak-ers from competing to build an equivalent small front load washer. That was important, because in home use automatic washers were a true time and labor saver for those women who had grown accustomed to working outside the home in the war effort.

As the war came to an end, pent up desire for labor saving products such as automatic washers, created a huge market and sales were booming. Those that made wringer washers were losing sales, and so they began to try to convert their products to compete

with these new automatic washers by building one of their own. But, because of the existing patents, they could not compete by using a front axis, front loading automatic washer.

They had to build something entirely new. So they began with the agitator from the basic wringer washer design. All that was needed then was to add a spin cycle to replace the wringers. That is how the basic automatic top loading washing machine was fi rst born and designed. It was a wringer agitator that spun within a sheet metal box.

To augment successful efforts to introduce their automatic washers, most companies put salesmen on the road, sponsored national advertising campaigns and they put on lots of dealers. There were dozens and dozens of brands and collectively their advertising and promotional activities to reach the market simply drowned out the efforts of only two front load washer makers.

It took just a few years until, unlike the rest of the world, America became a nation that used top loaders in the home and in laundries, even though their designs were admittedly less effi cient than were front load-ers.


Because of huge production, it was actually less expensive to build top load washers. Those who made them, such as Whirlpool, Maytag, General Electric, Speed Queen, Blackstone, Hot Point, Frigidaire and others, had such an advantage in production volume that most of the laundries then being built were equipped with top loaders. Top load washers just made more economic sense.

Larger front loads were also included in some new laundries, but only in a very limited way. Seen at fi rst as “Rug Washers”, there were only one or two of them in a typical coin laundry design, and most laundries had none.

These front load washers used far less water per pound of laundry done, but water was cheap back then. Despite a water use edge, it took front load washers many years to catch on, and even then it happened so gradually that hardly anybody noticed.

Rising water and sewer rates caused more and more operators to reconsider washer styles and the laundering public was getting used to seeing front loading washers in better coin laundries. As the use of front load wash-ers began to increase, the number of them installed in coin laundries began to accelerate too.

Today it is not unusual to fi nd all front load washer laundries. It is less usual to fi nd all top load coin laundries, as most over the years have put some front loaders in operation.

There still remains a basic argument over which style of washer is better accepted by coin laundry customers. Most people were raised on home washers that loaded from the top. Some were loyal to the old brand name.

Some operators felt that it’s hard for custom-ers to change their laundering habits.

Laundry owners and operators were very familiar, and mostly satisfi ed with the top load washers that they owned. They knew how to fi x and repair them, and their clientele liked them too. So they were also reluctant to make any change that might rock the boat with their clientele.

As usual, it all boils down to money. The all front load washer laundry is more expensive to build. It thus requires more capital invest-ment to build or remodel a laundry.

Plumbing and wiring costs are higher, plus there is a substantial difference in the cost for installation of bases, etc. The machines usually have to be bolted down.

The arguments for the front load washer are that they enjoy a longer useful life and have a lower cost of operation per pound washed. The per pound cost for both electricity and water and natural gas required to heat the water is much lower.

Lower cost per cycle may be a good reason, but the best argument for choosing to install new front load washers is the ability for a laundry operator to charge a higher wash vend price per load. As a result of that ability to attain higher pricing, there could be more income per square foot of fl oor space.

In recent years some major brand names of washing machines have introduced more energy effi cient washers that are not quite the same style and design of typical coin or card operated front load units. These units are basically designed for the home market, but have already developed a strong position


in the coin and card operated laundry market as well. They don’t require being bolted down, which saves on costs of installation.

European based manufacturers have begun countering that by bringing in some smaller units as well. These are basically European style home washers. They do have a heavier frame, but so far they have smaller doors and so give an impression that they can not accommodate as large a load of clothes as newer American made models.

Some of these new models from overseas do not require be ing b o l t e d d o w n either , which d o e s m a k e t h e m b e t t e r ab le to com-pete cost-wise with energy e f f i c i e n t models from A m e r i c a . The princi-pal savings being in costs for installa-tion.

Regardless of the benefi ts gained by install-ing either traditional style front loads, or the newer models made in the USA, we should not see a shift of titanic proportions to the front load washers for many years to come. In new construction yes! But existing laundries will make the change only after their current top loading washers have died and gone on to washer heaven. The typical laundry operator will continue to use his or her top loading washers as long as they have economic life and can be kept looking half way decent. That is for as long as savings that will be gained from water conservation and energy are roughly the

same as is the capital and interest expense of buying new machines will be.

For marginal laundry locations, that may be forever, or until their lease runs out, whichever comes fi rst. Almost all future coin or card-operated laundries will be installed with the more energy effi cient front load units. It just makes economic sense.

One often overlooked consideration is the size and type of dryers required to accompany installation of larger capacity front loads.

Dryers too will have to be part of economic deci-

sions made to add front loads to a laun-dry’s equipment mix. What is the point of

adding more wash capability unless

i t ’s accompa-nied by more clothes dry-ing capacity? Why create a drying bot-tleneck?

Deciding to change an existing laundry’s washer styles from traditional top loaders to front loading washers is made more diffi cult by the overall investment required. Front loaders, depend-ing on size, will cost three, four, fi ve or more times the new price for top loads.

On one hand a laundry owner wants more capacity to earn. Larger capacity front loading washers make more money per square foot. On the other, it takes a much greater outlay of cash to make the change. In marginal coin and card operated laundries this will be hard to do. And, in some cases impossible, unless the changes are made by purchasing and installing only one or two washers at a time.


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By PHIL MOSESCoin Laundry Broker, Consultant & Expert Witness

Part 2 of 2

The ADVANTAGES

Seller fi nancing sounds kind of bleak, doesn’t it? Not to worry. Fortunately, there are several very attractive advantages to a seller who is willing to accept a promissory note as part of the purchase price in the sale of a coin or card laundry.

Attracts More Buyers

For several reasons that I will cover in this section, a seller’s willingness to carry a promis-sory note places a premium on the value of the coin laundry, thus attracting more potential buyers.

Laundry will Sell for a Higher Price

There is a great deal of fl exibility in the terms and conditions of seller fi nancing, thus allowing a buyer and seller to create advantageous terms (more commonly known as “creative fi nanc-ing”) that are benefi cial to both parties, but would be limited when bank fi nancing is involved. And, because advantageous terms will increase the net profi tability to a buyer, the laundry is worth more on the open market.

Because the value of a coin laundry is determined by its net profi t, the ability to structure favorable terms and conditions of the sale is certain to result in a higher return on investment (ROI), which, in turn, justifi es a higher sales price for the laundry.

Unfortunately, in cases where there is bank fi nancing, the buyer and seller must play by the bank’s rules, which are advantageous to the bank, but not necessarily benefi cial to the buyer and seller.

THE ADVANTAGES AND DISADVANTAGES OF SELLER FINANCING


However, when a seller carries a note, the buyer, seller and broker make the rules, which can be benefi cial to both the buyer and the seller.

Additionally, it is not uncommon for sales transactions to be possible with seller fi nancing, when such sales would, as the result of restrictive terms, die on the bank’s doorstep.

Example of a Higher ROI Resulting from Seller Financing

By way of example, let’s assume that a coin laundry nets $10,000 per month and has a purchase price of $500,000. A bank-fi nanced sale would be as follows:

Purchase Price: $500,000 Down Payment: $175,000 (35%) Bank Loan: $325,000 (5 year term, 7% interest) Monthly Loan Payment: $6,435 per month Monthly Net Income: $10,000 Monthly Net Profi t: $3,565 Annual Net Profi t: $42,780 ROI: 24% (Annual net divided by down payment)

Now let’s look at the same sale with seller fi nancing, making only one minor change (the 5-year term is changed to 7 years):

Purchase Price: $500,000 Down Payment: $175,000 (35%) Bank Loan: $325,000 (7 year term, 7% interest) Monthly Loan Payment: $4,877 per month Monthly Net Income: $10,000 Monthly Net Profi t: $5,123 Annual Net Profi t: $61,476 Higher ROI: 35% (Annual net divided by down payment)

Making one minor change (increasing the term from 5 years to 7 years) generates an ROI of 35%, 10 percentage points higher than the same sale with bank fi nancing. Since the industry standard ROI for appraising coin laundries is 25%, we can now justify a higher price for the laundry. How much higher? Let’s take a look.

Purchase Price: $585,000 Down Payment: $204,750 (35%) Bank Loan: $380,250 (7 year term, 7% interest) Monthly Loan Payment: $5,706 per month Monthly Net Income: $10,000 Monthly Net Profi t: $4,294 Annual Net Profi t: $51,258 ROI: 25% (Annual net divided by down payment)


As is evident by analyzing the above models, making only one minor change in the loan term picked up an additional $85,000 in value, thereby increasing the selling price from $500,000 to $585,000. Not bad for a single stroke of the pen, wouldn’t you say?

In addition to changing the term of the loan, we can also add more value to the subject laundry with other changes elsewhere in the sale, such as the down payment, the interest rate, and even adjusting the monthly loan payment downward, creating a still higher market value, but with a balloon payment at the end of the loan term. A balloon payment, however, can easily be avoided by an extension or further lengthening of the loan term, which will eliminate the balloon payment altogether.

These are just a few examples of creative fi nancing that we can use when a seller is willing to carry paper, none of which could be accomplished with bank fi nancing.

Easier Buyer Qualifi cationMost banks are governed by strict rules of qualifi cation, meaning that they will not loan money to a borrower who does not meet the banks frequently restrictive lending standards. In addi-tion to other factual and fi nancial criteria, this consists mostly of a good credit history and a strong personal fi nancial statement.

At a glance, this seems reasonable enough. However, there are circumstances under which a strong buyer, due to a unique situation, is unable to qualify by meeting the banks lending standards, thereby creating an inequity by denying the loan to a well-qualifi ed borrower.

For example, there is a substantial amount of foreign money invested in the coin laundry industry. It is not unusual for an individual or an entire family to come to the United States from countries all over the world, seeking to buy a business and live the American dream of prosperity.

For that purpose, they bring with them very large amounts of cash. Coming from a foreign country, though they have cash, they have no credit history in the United States, nor do they have a strong personal fi nancial statement, which appears to be inadequate, weak or unstable, only because the prospective borrowers do not own real estate or any other hard assets to enable them to meet a bank’s lending standards. Consequently, the bank loan is denied.

What all of these restrictive bank qualifi cation requirements mean is that the only way to borrow from a bank is to convince them that you don’t need the money.

Now enter the seller who is willing to consider all of the prospective buyer’s circumstances. We are no longer bound by bank rules written in stone. Now we play by our rules. All we have to do is to prove to the seller that our foreign prospective buyer is, in fact, more than credit-worthy and suffi ciently qualifi ed.

With an adequate down payment and reasonable terms, we can create a transaction that is a win-win situation for the buyer and the seller. The buyer acquires a stable, profi table business,

Continued on Page 30


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GOLDEN STATE COIN LAUNDRY ASSOCIATION • DECEMBER, 201616GS

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Ron Kelley: (408) 624-6666e-mail: [email protected]

Brian Brunckhorst: (510) 501-5065 or e-mail: [email protected]

MEETING FOR LAUNDRY OWNERS & DISTRIBUTORS

THURSDAY, December 8, 2016, 7:00-9:30 p.m.

Annual Christmas Party & Raffl e

Celebrate A Great Year!Network with Coin Laundry Owners! ●

Enjoy a Great Christmas Dinner! ●Enjoy the Industry’s Most Famous Raffle! ●

(Over $1000 in prizes given away!)Enjoy an evening with GSCLA Members! ●

LOCATION: Spenger’s Fresh Fish Grotto1919 Fourth Street, Berkeley, CA 94710 (Near University Ave.)

Use Internet for a Map & Directions

Dinner Choices: Sirloin of Beef, Salmon or Vegetarian Plate$35.00 Per Person (Reserve by December 5, 2016) ***$40.00 at the Door

Seating is Limited: RSVP REQUIRED! MAKE YOUR RESERVATIONS TODAY!

GOLDEN STATE COIN LAUNDRY ASSOCIATION • DECEMBER, 2016 17GS

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Proven industry experience since 1974Equipment Sales & Financing

Laundry DesignLicensed General Contractor

BUYINGApartment Washer / Dryer Routes

Call Barney Oliver

(510) 792-6069OFFICERS & DIRECTORS

4101 Dublin Blvd # F-115, Dublin, CA 94568-4603www.goldenstatecla.com

DIRECTORS OF GSCLA WANT TO HEAR FROM YOU.If you have suggestions to make or questions you

need answered, give one of us a call.

PRESIDENT Brian Brunckhorst (510) 501-3965V.P./TREAS. John Miller (408) 838-5869SECRETARY George Morgan (530) 559-5959PAST PRES. Ron Kelley (408) 624-6666DIRECTOR Deborah Dower (916) 933-9753DIRECTOR Randy Houseman (925) 628-9420DIRECTOR Ron Lane (916) 947-6928DIRECTOR Mark Ma (650) 375-9352DIRECTOR Bryan Maxwell (510) 786-9271DIRECTOR Herb McKay (925) 989-0266DIRECTOR Aaron Thompkins (510) 236-9649

It’s your association, you make it happen!

Let the Largest and Most Experienced Companyin the industry sell your store TODAY!

Contact one of our experienced real estateprofessionals to start the process.

CALL PWS Today!Northern CA: (650) 871-0300

profi t from our experience

Taylor HousemanLaundry Equipment & Store DesignReplacement, Retool, New Stores

“Only the Best” ContinentalRandy Houseman or Denis Brunk Lic # 595077

800-464-6866

(800) 633-7153

The September 15, 2016 meeting was well attended and featured a presentation by Alfredo Duque from AMD Systems Solutions. Alfredo offered alternative considerations for both wired and wireless card payment systems for coin laundry businesses. The GSCLA Christmas Party and Raffl e for December is a continuation of the oldest year-end celebration in the Coin Laundry Association (CLA). This is the event where the year’s major accomplishments are rec-ognized and the Holiday Season is kicked off with GSCLA’s famous dinner and raffl e

of many, many gifts. As the oldest affi liate of CLA, this is the premier GSCLA event for networking with fellow coin laundry owners and distributors. Come out and dis-cuss your business challenges while dining with friends and have a lot of fun. The best solutions for business concerns come from those working in the industry. Join us and exchange experiences and expertise. See you at the Christmas dinner!

2017 GSCLA Meeting Schedule: TBA


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During the Holiday season, we laundry own-ers are often too busy enjoying the seasonal increase in business the holidays bring us to do much planning, and yet a new year will quickly be upon us. What better time to do what has been avoided all year? Most of us have greater energy when it is cool, and all of us understand that the new year will bring new opportunities. Planning for the future growth of our laundry businesses is crucial. Not only is having a plan a wise thing for any business, it is also a great psychological boost for any business person. Knowing where you are going is both important and reassuring because you will now have markers to see your progress along the way.

TO KNOW WHERE TO GO, YOU FIRST NEED TO KNOW WHERE YOU ARE. One of the simplest tools for knowing the current status of any business is have a chart showing your laundry’s income history by the month and year. You have to compile the income of the laun-dry for your taxes anyway. Most operators keep

track by the month. Why not enter each month’s income onto a graph. That’s just a simple piece of graph paper with a fl at line at the bottom spaced for each month, and a vertical line on the left with marks representing dollar income for the month. Start out with the two previous years and then enter this year. That way you’ll have a picture of the income history of the laundry over the last three years. It’s easy to see if your laundry business is growing, or not. If the trend line of the coin laundry business is improving year to year, perhaps you are satisfi ed. If not, do you need to do things to change that trend line around? There are other benefi ts to creating these graphs. They make an excellent sales tool if and when you ever decide to sell the laundry. Why? Because keeping a graph showing income over a period of years does provide a clear visual picture of how a laundry is doing and has been doing. That will be far better than hours of ver-bal explanation shown to a prospective buyer. Of course it really helps if the trend line of the laundry’s business is on the rise. If it’s been on the down swing, that’s a different matter.


DO THE BASIC BUSINESS MATH. Another tool a laundry operator can use is to total up all of their coin laundry’s income for each year and do it for at least the past three years. Then do the same thing for all of the expenses per year for the same time period. Remember, you are trying to establish a trend, so do it by each year, not the three year total. After you have your expenses and income for the three years, you’ll quickly see if you are growing or not. To fi nd what percentage of income is profi t, divide the gross income into the expenses. That tells the percent of income the expenses are. Now subtract that number from 100%, for percent of profi t. What is the percentage of profi t each year when you consider expenses against the income? Does the profi t percentage stay the same, or is it going down? If it’s down, where can you fi ne tune to cut costs? What must you do to bring your income and expenses into a better bal-ance? In some cases a laundry owner may actually realize greater profi ts during a period when profi t percentages are falling. Which could be an ominous sign for the future of any business. It means there is more cash to work with now, but shows there will be less in the future with rising costs, and we all know costs are going up. Now, after doing the math and drawing the graph, you have some concrete idea about how your laundry business has really been doing over the past several years. The trend will be either up, down or sideways. If you’re pleased with what’s been going on, do nothing that you have not already been doing. If things are not as good as you feel they should be, then it’s time to make changes. If you feel things could be better, now is the time to plan and set a course of action and do what you need to do to improve things.

HOW DOES ENERGY CONSERVATION AFFECT YOUR PROFIT PERCENTAGE? After reviewing the graph and your compila-tion of profi t percentages, what if you see your

expenses rising and profi ts slipping? One of the ways to turn things around is to consider the purchase of the energy and water effi cient machines. There has been a remarkable change in washer and dryer design to improve effi cien-cies. Use less water and juice to provide the same income, or higher. Energy costs continue to rise and so do water and sewer charges. In the not too distant past, these expenses were nominal for our industry, now they have become a major factor in both the fi nancial success of laundries, and a direct cause for some failures. What operators have to decide in buying bet-ter equipment is whether or not they will have a higher percentage of profi t. This fi gure comes after calculating payments, depreciation for the new equipment and the money saved through effi ciency. If selling the laundry is something reason-ably foreseeable, we all know that having newer machines is a strong sales point. When gas, water and electric bills have been calculated. is the percentage of profi t higher or lower? Is the actual income better? Do the sav-ings create a better future income picture for the laundry? Without doing the graph and getting down to basics with business math, how will you ever know?

REMEMBER, ONLY THE SMART ONES WILL SURVIVE. It gets harder and harder to run a business with all of the paperwork and rising costs. Only the smart ones who know what is happening in their coin laundry will survive. By smart, we mean learning what to do, when to do it and then doing it on a regular and consistent basis. Be one of the smart operators. Keep good records, know what your laundry’s trend line is, and do your best to keep it rising. Strongly consider doing a graph for the past three years of your laundry’s growth. We are all required (IRS Rules) to keep records from which the graph can be drawn. Take the time and do it.


SIMPLE MATHCAN HELP MAKE

YOUR LAUNDRY A SUCCESSMost successful coin and card operated laundry owners become sticklers about knowing what it costs to do a load of wash or dry by size and type of washer or dryer. This knowledge allows them to price their services profi tably. Otherwise, they would be fl ying by the seat of their pants, just like, sadly, some laundromat owners have been doing for years.

But, if you are in the latter category, there’s good news: You can very easily jump into the former category with a little simple math, and we’ll even show you how!

Successful owners have not gotten where they are by doing things the way most oth-ers do. They are willing to go a step beyond what others do, and that is why they become successful.

It’s not rocket science, and it isn’t hard to fi gure out following basic, logical steps.

First, a laundry operator needs to know what percentage of their income is brought in from each type of washer or dryer. What this

entails is collecting, counting and recording by machine type and machine size. By totaling the income by type of machine, you will be in a position to know exactly how much of your income is derived from each type of washer and dryer.

It is almost a universally accepted practice that laundry owners collect and count every type of machine by size. Some can do this electroni-cally, if they have card operations. Others still have to insert the key in the box and empty the coins into bags and then total up each type of bag to see what the actual income is. Whichever way is YOUR way, you can still accomplish the same result.

You can do this by following up the information you’ve collected by also following a few, quite simple, mathematical steps.

Use for an example, an unattended 1600 square foot laundry with 6 double loaders, 30 top load-ers and 20 dryer pockets. For our example, the monthly lease on the laundry is $3000.


The monthly washer and dryer collections are $10,000, broken down as follows:

Top Loads $4,000 Double Loads $2,500 Dryers $3,500

You can see that the top loaders will produce 40% of that $10,000, the doubles 25%, and the dryers 35% of that income brought in by our imaginary laundry business.

So, the top loaders are responsible to bring in 40% of $3,000 ($1,200) as their fair share of the rent. Therefore each of the 30 machines is responsible for $40.00 toward the monthly rent. If each top load washer does 5.5 loads per

day, or 165 loads in an average month, you’ll divide the $40.00 by that (165) and it means each top loader costs 27¢ per wash load done. That’s just to pay for its “share” of the rent. Of course there are other costs, like sewer and water, and we’ll get to that in a moment. But for now, at $1.25 per wash, after rent only, the laundry profi ts $.98 per load.

Using the same formula, the double load wash-ers bring in one fourth of the income, or $3000. Divided by 6, that means each double loader makes $500 a month, or about $17.00 per day per machine. If each of the front load washers turn 11 loads per day, that means the vend price must be $1.55 just to cover rent.


Often, the largest variable expense for a coin or card laundry is for water and sewer. This bill, unlike the rent, will only be apportioned to the washers, because they are the pieces of equip-ment that affect the water and sewer bills.

If our imaginary sewer and water costs are $1500 per month, we can use the same math process to calculate those machine’s fair share of the cost just like we did for the rent.

We already know that the 30 top load washers are bringing in $4000 a month. If, as we saw earlier, they are (in total) turning 165 times, by dividing the $1500 water and sewer by that, and we can see that we need to collect an addi-tional 9¢ per top load washer just to be at the break even point. That’s 27¢ + 9¢ for a total of 36¢. And we haven’t even touched on the other bills, or your need to make a profi t.

Other payments – bills for gas and electric, insurance, janitorial, taxes, repairs, supplies, and depreciation – all can be apportioned among the machines in the same way.

A word of caution here though. Obviously, your gas bill is primarily driven by your dryers, and, though to not as great of an extent, your water heaters. However, the water heater cannot bring money into the laundry, so its share of the total gas bill has to be apportioned to the dryers only.

In fact, a lot of your bills are less directly attrib-utable to specifi c equipment. So only those things which collect money apply here.

But the simple formula (okay, it’s not really that simple, but it does make sense) we have outlined here will allow any laundry owner to know how he is paying for each of his busi-ness’s costs, and from that, you can determine how much you have to have to break even, BY MACHINE.

A few readers might ask, “Why do I need to know this. I know how much I’m taking in, and I know how much is going out. Pretty simple, really.”

And the answer is, “Because if you don’t know, you may not be setting your vend prices where they need to be.”

The math method we’ve just outlined can help you see accurately not just where the money is going, but how you are getting it back.

http://www.coinlaundry.org/clainsurancesite/home


http://vendrite.com

http://www.laigroup.com


ALJCO PARTNERS WITH R & B WIRE PRODUCTS, INC. AS DISTRIBUTOR

El Segundo, CA, October 21, 2016 — ALJCO/ALJ Electronics, today announced an exciting new partnership with R & B Wire Products, Inc., to distribute from their diversifi ed range of wire, tubular, poly, and vinyl bushel products, servicing industries including the coin-laundry and OPL laundry sectors. ALJCO/ALJ Electronics, is a leading pro-vider of commercial laundry equipment and parts distribution. In addition, ALJ Electron-ics manufactures, repairs and refurbishes electronic controls in the commercial laundry industry. “Joining partnership with R & B Wire Products not only increases our product offerings but it extends the commitment we made to our customers to bring them the latest technology and complete solutions, something we continually strive to do,” said Carolyne Johnson, ALJCO President and Engineer. “We appreciate the opportunity to expand our support and help further build loyalty with our customers in the coin-laundry, healthcare, hospitality, laundry, janitorial supply, material handling and car wash industries.” R & B Wire Products, since 1946 has been an industry leader in the laundry cart business. R & B has expanded its product line over the years beyond their extensive line of standard and front-loading laundry carts to include core product lines including their patented “Clean Wheel System” casters on laundry carts.

About ALJCOALJ Electronics was founded in 1984 by Alan Johnson, an owner and operator of multiple coin laundry facilities. After his passing in 2009, Carolyne Johnson, his daughter, took the reins of the company and set out to grow the

business through creative engineering projects, small parts distribution, electronics manufac-turing, control board repairs and sales. With the introduction of ALJ’s partnership with Maytag/Whirlpool, the business has founded a new division, ALJCO to specialize in equip-ment and parts sales for the multi-housing, Coin-Op and OPL laundry industries.

http://sterlingequipmentco.com


REGISTRATION AND HOUSING

OPENS FOR CLEAN 2017

People planning to attend Clean 2017 in Las Vegas June 5-8 can register for the show and make their hotel reservations starting Novem-ber 17 on the show’s website. The Clean Show is the world’s largest exhi-bition of commercial laundry, drycleaning and textile services equipment and ancillary prod-ucts. Attendees can see and compare working equipment in live demonstrations, and can learn from more than 25 hours of classroom education covering all segments of the textile care industry. For the fi rst time members of one of the fi ve national sponsoring associations can register for a discounted fee of $119 a person. Their membership must be active at the time of regis-tration. The registration fee for non-members is $149. Sponsoring associations are Association for Linen Management (ALM), Coin Laundry Association (CLA), Drycleaning & Laundry Institute (DLI), Textile Care Allied Trades Association (TCATA), and Textile Rental Services Association of America (TRSA). The deadline for pre-registration is May 31, 2017. After that date registration is on site only and the fee increases to $169 a person regardless of sponsor membership. Clean 2017 has contracted with a number of Las Vegas hotels, many of which are new to the Clean Show package. To obtain the special rates and amenities the Clean Show offers, reservations must be made through its only authorized housing service, Connections Housing, by telephone 702-675-6584 or toll free 844-216-0057 (in the USA), or on the Clean Show website. Show sponsors have selected the following headquarter hotels for their organizations:

ALM, Caesars Palace; CLA, Vdara; DLI, Cos-mopolitan; TCATA, Renaissance and Westgate; TRSA, Signature at MGM and Westgate. Other hotels offered for the Clean Show are Bally’s, Flamingo, MGM Grand, Paris, Tropicana and Wynn. Hotel rates to accommodate every budget range from a low of $49 on a weeknight to a weekend high of $239. Most hotels charge a higher rate for Friday and Saturday nights than Monday through Sunday. Published rates do not include taxes. Most hotels also add a mandatory resort fee of $15 to $32 a night. Complimentary shuttle buses will provide transportation between the Las Vegas Conven-tion Center and most offi cial hotels on show days. Both show registration and hotel reserva-tions can be made on the Clean 2017 website: www.cleanshow.com. Those who prefer to make these arrangements other than online will fi nd forms and instructions on the web-site. For more information about Clean 2017 visit the show’s website: www.cleanshow.com, or contact show management: Riddle & Associ-ates, 2751 Buford Highway, Suite 100, Atlanta, Ga. 30324 USA, telephone 404-876-1988, email [email protected].


People, space and utilities, the three major laundry expenses, continue to increase without any sign of tapering off. Additional government regulations on both employers and energy production are driving up costs, and the effect is spilling over into the commercial real estate market. While laundry owners feel pressure from increasing expenses (the rock), in many instances competition prevents them from increasing vending prices (the hard place). Those caught between the two often suffer severely declining profits. Survival means developing and implementing new manage-ment plans. In self-service laundries, washers and dryers generate most of the revenue, yet they occupy only a small percentage of the total space—15 to 30 percent. Calculate this percentage by adding the square footage of all washers and dryers in the laundry including the square footage of the space behind each machine required for utility hookups and service; then divide by the total store space. Laundry owners need to strive for more revenue per square foot of laundry space to offset rising expenses. Raising prices, adding equipment or adding services can increase rev-enue, but in highly competitive markets, price increases can drive business to competition. If you have a laundry with low space utilization, consider additional laundry equipment. Owners of laundries with good space utiliza-tion can still increase revenue per square foot by replacing smaller washers with multi-load

equipment that commands a higher vend price per cycle. Revenue will increase substantially even under severe competition. Another way to increase revenue per square foot is to go vertical. Multi-load stack dryers take about the same amount of space as single-loaders, at double the revenue per square foot. In older laundries, replacing old single-load dry-ers with stacked dryers and single-load washers with multi-load, high-extract washers can more than triple revenue. Doubling drying capacity should compensate for the added washer capac-ity when using high-extract washers. Washers with programmable cycles help laundry owners increase revenue, particularly in competitive markets. Maintain the regular cycles at a competitive price, but get a premium for pre-washes, extended wash times, addi-tional rinses or extended extraction time. Set dryer cycles to produce revenue between 40- to 50-percent of washer revenue. Market the features and related benefi ts of extended washer cycles by using bi-lingual promotional signs and literature. Train all employees on the features and related benefi ts of each cycle and develop their skills in interact-ing with customers. Ongoing training always pays off in increased profi ts.

Emerson G. Higdon is a coin laundry consultant and author of the book, “Coin Laun-dries — Road to Financial Independence”. He is a past member of SCORE (Service Corps of Retired Executives) and serves on the board of experts for The TASA Group, Inc.

Are you caught between a rock and a hard place?

by Emerson G. Higdon


and the seller realizes all of the benefi ts that I describe in this article for an owner willing to accept a note as part of the purchase price.

Creates a Reliable Cash FlowWhen a seller carries a note, he is creating a reliable, usually substantial, monthly cash fl ow from the laundry, though he no longer owns or is involved in the day-to-day operation of the business.

Creating a monthly cash fl ow opens several opportunities to the seller. It can be part of a retirement program. The money can be invested on a monthly basis in diverse investments such as stocks, bonds, commodities, mutual funds, REITs (Real Estate Investment Trusts) etc., or conservatively placed in a savings account.

Buyer and Seller Willingness to Resolve Problems by Mutual AgreementThere is a multitude of reasons why a coin or card laundry can run into diffi culties, especially fi nancial challenges brought about by no-fault circumstances.

For example, it’s always possible that, sometime well after the buyer has taken possession of the laundry, revenue problems materialize as a result of outside occurrences. Perhaps a new laundry opens nearby, or a competitor does a major remodel with a grand-opening. Excessive competition may cause nearby laundry owners to lower prices to promotional levels, thereby creating a price war in which all participants lose.

If and when these matters arise, it is a great benefi t for the buyer and the seller to be able to sit down and try to work out a mutually agreed-upon solution to resolve the problem, whatever it may be. A spirit of cooperation can go a long way toward resolving such dilemmas or disputes well before they get out of hand or become very expensive legal issues.

Bank fi nancing does not allow this luxury. In recent years, due to negative economic and fi nancial conditions, banks have signifi cantly tightened up their rules and regulations, usually without regard for individual borrowers. In years past, bank managers exhibited a willingness to work with customers in the event of fi nancial diffi culties.

Not so today. Miss one bank payment, and you may be looking at jail time.

When a seller carries the fi nancing, if a problem occurs, the buyer and seller have a mutual interest in the fi nancial health of the laundry. Unlike most banks, resolving problems by mutual agreement of the parties is an option. A willingness to compromise can frequently avoid very expensive disputes, further jeopardizing the fi nancial interests of all parties, to the benefi t of none.

Interest Rates Dramatically Higher than those of Savings AccountsWhile it is true that there are many investment opportunities in the world of business and

The Advantages and Disadvantages of Seller FinancingContinued from Page 30


fi nance, a signifi cant percentage of laundry owners coming out of escrow with a substantial amount of cash choose the safest, most conservative option – savings accounts.

For our purposes, the alternative for the seller is to take from the close of escrow some cash and some paper (a secured promissory note).

First, let’s analyze and compare the safety factor.

Savings accounts are insured by the federal government (FDIC). Consequently, there is virtu-ally no risk in opening a savings account. That is also part of the reason why interest rates on savings accounts, as of this writing, are exceptionally low at around 1% or so.

To analyze the security factor in carrying a promissory note, let’s consider the worst-case scenario, which would be a default on the buyer’s note to the seller.

In that event, since the laundry is security for payment of the loan, the seller, in order to protect his interest, would legally take possession of the laundry and the underlying lease.

The seller, being an experienced laundry owner and operator has two alternatives: 1) Rebuild the revenue and continue to own and operate the laundry; or 2) Rebuild the revenue to previ-ous levels and sell the laundry to a stronger buyer.

In other words, as a result of the worst-case scenario, the seller would have acquired: a) The buyer’s down payment from the original sale; b) All of the monthly payments that the buyer made prior to the default; and c) Possession of the laundry and the lease, with the option of operating or reselling the subject business.

While the security factor clearly favors the safety of a savings account, the more attractive investment opportunity heavily favors the seller’s taking possession of the business, then pursuing his preferred alternative of keeping or reselling the laundry.

Having analyzed the safety and security issues, let’s take a look at how this would play out in actual dollars.

In this example, a laundry owner has listed his store for sale and has received two offers.

Offer #1 is $500,000 cash.

Offer #2 is also $500,000, but with the owner accepting a down payment of $175,000 (35%) and a promissory note in the amount of $325,000 at 6% interest for a term of 7 years and a loan payment to the seller in the amount of $4,724 per month.

For our purposes, in both cases, the seller wants to open a savings account with the cash out of escrow, which, in Offer #1 is $500,000, and in Offer #2 is $175,000. Let’s look at a comparison analysis:


Offer #1

Purchase Price: $500,000 Cash Opens Savings Account: $500,000 at an Interest Rate of 1% (today’s aver-

age) Projected Term for Comparison: 7 years of Interest Compounded Monthly (same as

a seller note) Savings Account Interest Earned after 7 years: $36,238 Total Interest Earned at 1% Compounded

Monthly Total Cash on Hand after 7 years: $536,238 Total Sale Price to Seller (adjusted for

interest earned)

Though the laundry sale price was $500,000, when the earned interest is added, the effective laundry sale price is $536,238.

In order to achieve a fair and accurate comparison, it should be noted that in our example, since seller-fi nancing is compounded monthly, I calculated savings account interest compounded monthly as well. In reality, savings account interest is compounded daily, which would make the effective sales price even higher than $536,238.

Offer #2

Purchase Price: $500,000 with Seller Financing Down Payment to Seller: $175,000 (35% of Purchase Price) Amount of Note Carried by Seller: $325,000 (Secured by the Laundry) Terms of Seller’s Note: 7 years at 6% Interest

The seller opens a savings account with cash out of escrow (buyer’s down payment of $175,000). Terms of Savings Account: 7 years at 1% Interest (Same terms as Offer #1) Savings Account Interest Earned after 7 years: $12,683 Total Interest Earned at 1% Compounded

Monthly Total Cash on Hand after 7 years: $187,683 Buyer’s Down Payment of $175,000 Plus

Interest Amount of Promissory Note Carried by Seller: $325,000 (Secured by the Laundry) Terms of Seller’s Note: 7 years at 6% Interest and Monthly Payment of

$4,724 Monthly Income from Seller’s Note: $4,724 Buyer’s Monthly Payment to Seller Total Amount Paid to Seller on 7-year Note: $396,816 on Original Note of $325,000 Interest earned from Seller’s Note: $71,816 Total Interest Earned by Seller

As explained above for Offer #1, the interest calculations for Offer #2 are compounded monthly, when in reality, the interest in a savings account would be compounded daily, thereby increas-ing the interest earned higher than $71,816.

To further maximize the seller’s profi t from the transaction, instead of spending the $4,724 monthly payment, the seller has the option of investing that money, as it is received from the buyer, in other traditional investments, such as stocks, bonds, mutual funds, etc. Or, to be super-conservative, he can deposit each of the buyer’s payments into a savings account.


Should the seller choose to deposit each monthly payment into a savings account, the scenario would continue as follows:

Monthly Payment to Seller from Buyer: $4,724 for 84 payments, including principal and interest Terms of Savings Account: 7 years at 1% Interest (Same terms as Offers #1 and #2 Total Deposits over 7 years: $410,857 Account Balance after 7 years Earned Interest: $14,041 by Depositing Buyer’s Monthly Payment

Wow! Enough numbers to choke a horse, I know! But, let’s see what we have after the dust settles and the smoke clears.

By following the above procedures, here is what we achieved by convincing the seller to carry a promissory note:

1) We converted the $175,000 down payment to $187,683, thus earning $12,683 in addi-tional interest.

2) We converted a $325,000 promissory note to $396,816, thus earning $71,816 in addi-tional interest.

3) As a result of the buyer’s loan payments, we deposited into a conservative savings account 84 payments of $4,724, thus earning an additional $14,041 in interest.

4) The net result of the seller’s willingness to accept a promissory note is that we con-verted a $500,000 sale into a $598,540 sale, thus netting an additional $98,540 over a 7-year period. By carrying a secured promissory note for part of the purchase price, the seller will net almost $100,000 more from the sale.

5) Boring math? Yes, perhaps… but very important… and very profi table.

However, if you prefer to skip the above mathematical menagerie, I can summarize the whole concept in just three simple words: “Sellers, carry paper!”

Note to Coin Laundry News Readers:I always welcome suggestions from readers as to the topics of interest to laundry owners. If you would like further explanation pertaining to any of my articles, if you have questions, or especially if you would like to suggest subjects for future articles, please contact me at: [email protected] or (818) 889-6166. Thank you!

About Phil Moses: Phil Moses is a coin laundry broker, consultant and expert witness with 40 years of experi-ence in the coin laundry industry. He attended the University of Pittsburgh and Bethany College in West Virginia. Phil has written three books on business subjects and many arti-cles in coin laundry trade publications. He has an offi ce in Westlake Village, California. Phil Moses can be reached at 818 889-6166 or [email protected].


For one reason or another, thieves and bad guys seem to appear at coin laundries dur-ing the Holiday Season. Although they tend to come in year round, there is an especially dangerous type known as “Silent Partners”. And being watchful this time of year may help you expose one who may be ripping you off and you haven’t noticed. Case in point. Now and again the laundry owner had a sense that everything wasn’t quite right, but there was never anything he could put his fi nger on. He’d owned the laundry for years, and had never been careless about the security of his keys. On one of his days off from his regular job, he came to the laundry to see how things were going. A customer he knew complimented him on the nice young man he had collecting the coins. “He was so polite and helpful.” Since the only employee he had was a woman who came in to clean at night, he knew something was wrong. He was being robbed. Immediately he purchased and installed new locks. Even he was surprised when he found the income went up an average of $300 per week. How long had this been going on? Maybe for years. That’s the impact that one of the silent thieves can have on a laundry. How does one fight what one does not know or even suspect? Stay suspicious that something could be wrong. Because the number of overall key codes circulating in our industry is limited, there is always a small chance that someone else might have a duplicate key to some of your coin boxes. It might even be a current or for-mer laundry owner or employee. Enterprising crooks can surprise even the experts. Proactive steps operators can take to insure there are no silent partners include salting the coin boxes with identifi able, but not

too obvious coins. If those coins aren’t there, when you collect, then there is a problem. Mark coins and put a specifi c number in certain coin boxes. Keep coins from those boxes separate from the rest of the collection. Go through those boxes individually to recover the marked coins. If those coins are always there, then it’s likely that a silent partner is not working your laundry. However, if they are not in the box, then you know that something is going on. To be absolutely sure, switch the boxes you bait with marked coin. This time in machine one, then in washer twelve and later in fi ve. You will need to keep a record so that you don’t panic when you don’t fi nd the marked coins in a machine you did not put them in. Some operators count coins in the boxes. The total should be exactly divisible by the number of coins needed to start a load. Work-ing quickly, thieves will grab a handful, which could leave a box uneven when divided by the vend price. A smart crook may think of that too, so it’s no real security guarantee if your boxes do come out even, but it’s an almost sure sign if they are off on a regular basis. Vary the days and times of day when you collect. What a silent partner counts on is not being noticed, so they only take a part of the laundry’s income. They may hit on Tuesday, knowing by the time you collect on Friday, that there will be suffi cient coin in the boxes to hide what they’ve done. By varying times, you put them at risk of being noticed. If you can’t sleep well because you have worries that you may have silent partners, take steps. Other operators have put in security cam-eras. Some do their collections daily. Others count coins or salt their coin boxes. Although it may be the most expensive way, you might think about replacing your coin box locks.

Some simple tips for:

Finding If You Have Silent PartnersFinding If You Have Silent Partners


COIN LAUNDRY NEWS CLASSIFIED ADVERTISING SECTIONFor information on how to advertise here, contactCOIN LAUNDRY NEWSP.O. Box 2175, Sun City, CA 92586Phone: (951) 301-7644 • Fax: (951) 301-7643 • E-mail: [email protected]

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LOOKING FOR PARTS SPECIALIST

PWS - The Laundry Company, the nation’s largest distributor

of laundry replacement parts, is looking for someone with exten-sive laundry parts knowledge. PWS is looking for a candidate that has competency in answer-

ing technical support ques-tions across multiple laundry

equipment manufacturers. The Company is headquartered in Los Angeles and would prefer someone to live local, however alternative arrangements could

be possible. If interested, please send inquiries to

[email protected]

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ESD Coin BoxesNew & Used. 6" & 8". Duo & Medico.

KA in groups. $7 ea/used. $12.50-$20.00 ea/new.

105 available. Bulk DiscountCall (858) 693-1000

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Anywhere in the western states

Specializing in coin/card operatedlaundry businesses.

Lionel J. BogutLaundry Consultant

Of assistance to your attorney incoin laundry and related matters.

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MOBILE METH SUSPECTS LAUNDRY BURGLARY OF $300 LEADS … · 2016-12-05 · burglary, theft and...

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