From Bankruptcy to Million-Dollar Laundromat Empire

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Bigger Life Podcast

43 episodes

1 day ago

"Bigger Life Podcast" is a podcast dedicated to helping listeners take control of their financial future. Hosted by financial experts with a personal touch, each episode covers a different aspect of personal finance, from budgeting and saving to investing and retirement planning. Whether you're just starting on your financial journey or looking to take your finances to the next level, is the podcast for you. Tune in to learn the strategies and insights you need to build wealth, achieve financial freedom, and live the life you want.

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Entrepreneurship

Business

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From Bankruptcy to Million-Dollar Laundromat Empire | Ep 26

Bigger Life Podcast

56 minutes 16 seconds

4 months ago

From Bankruptcy to Million-Dollar Laundromat Empire | Ep 26

From bankruptcy to building thriving businesses, Ken Wimberly's incredible story is the ultimate inspiration for anyone seeking financial freedom and personal transformation. In this episode, Ken shares how he went from filing for bankruptcy after a failed pizza restaurant venture to becoming a successful real estate investor, laundromat entrepreneur, and franchise owner. Discover the key mistakes that led to his early struggles and the powerful lessons that propelled him toward creating multiple income streams, including rental properties and innovative business ventures.Ken's journey is a testament to resilience and the power of reinvention. Learn how he transformed challenges into opportunities, mastered real estate site selection, and developed a passion for helping others succeed—all while making an impact through his Laundry Luv business and championing childhood literacy. Whether you're an aspiring entrepreneur, real estate enthusiast, or someone looking to overcome setbacks, this story offers actionable insights and inspiration to take control of your future.Watch now to uncover the secrets of overcoming adversity, building financial freedom, and living a bigger life. Don’t miss out on valuable lessons about personal growth, real estate investing, and thriving in the face of challenges!#franchising101 #bankruptcyrecovery #benefitsofowningafranchise #franchiseopportunities #realestateinvestingCHAPTERS:00:00 - Intro01:48 - Ken Wimberly's Background05:22 - Bouncing Back from Bankruptcy08:44 - Common Real Estate Mistakes11:14 - Keller Williams Experience Insights14:13 - Franchisee vs. Building Your Own Team18:06 - Kenny's Journey into Laundromats26:10 - Laundromat Financials: Revenue, Expenses, and Profits29:50 - Cost of Opening a Laundromat30:40 - Laundromat Revenue and Profit Margins37:00 - Staffing Requirements for Laundromats38:00 - Maintenance of Laundromat Equipment40:40 - Laundromat Repair and Maintenance Costs44:03 - Payroll Management in Laundromats45:25 - Selecting the Right Laundromat Location51:30 - Additional Real Estate Considerations55:00 - How to Connect with Ken Wimberly55:30 - Ken Wimberly - Outro