56: From Poverty to Millions Through Laundromats with Dave Menz
If you've found this show, you probably have that entrepreneurial itch... and you've probably wrestled with just how to turn that impulse into action. Well, that transition is exactly what today's show is about... so don't miss it. Our guest Dave Menz shares his journey from poverty, to a corporate career, to taking the plunge into business and turning a struggling laundromat into a cash-flowing asset producing generational wealth (then scaling up). And Dave pulled this off with no formal business training! As he says in the episode, "If you want to see me accomplish something, tell me I can't do it." Tell us what you think in a rating or review on Apple Podcasts (it takes just 30 seconds), and subscribe to the BiggerPockets Business Podcast in your favorite podcast app so you won't miss the next one. In This Episode We Cover:Overcoming "programming" from parents and school and choosing a different pathWhy Dave left his corporate career to start a businessWhy "the process" is more important than "the product"How he decided on laundromatsHow he negotiated the purchase of his first laundromatWriting a business plan and getting an SBA loanStarting a business while working full-timeHow he improved laundromat operations to become profitableScaling up and acquiring additional laundromatsCreating synergy among his businessesRelentlessly focusing on serving his community And SO much more!Links from the ShowBiggerPocketsBiggerPockets Podcast GuestBiggerPockets Podcast Check the full show notes here: http://biggerpockets.com/bizshow56
BiggerPockets Business Podcast
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Show Notes
If you've found this show, you probably have that entrepreneurial itch... and you've probably wrestled with just how to turn that impulse into action.
Well, that transition is exactly what today's show is about... so don't miss it.
Our guest Dave Menz shares his journey from poverty, to a corporate career, to taking the plunge into business and turning a struggling laundromat into a cash-flowing asset producing generational wealth (then scaling up).
And Dave pulled this off with no formal business training!
As he says in the episode, "If you want to see me accomplish something, tell me I can't do it."
Tell us what you think in a rating or review on Apple Podcasts (it takes just 30 seconds), and subscribe to the BiggerPockets Business Podcast in your favorite podcast app so you won't miss the next one.
In This Episode We Cover:
- Overcoming "programming" from parents and school and choosing a different path
- Why Dave left his corporate career to start a business
- Why "the process" is more important than "the product"
- How he decided on laundromats
- How he negotiated the purchase of his first laundromat
- Writing a business plan and getting an SBA loan
- Starting a business while working full-time
- How he improved laundromat operations to become profitable
- Scaling up and acquiring additional laundromats
- Creating synergy among his businesses
- Relentlessly focusing on serving his community
- And SO much more!
Links from the Show
Check the full show notes here: http://biggerpockets.com/bizshow56
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