172. You Want Passive Income, He Wants an Empire with Kevin Lumpkin

The Laundromat Resource Podcast

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In this week's show, we sit down with the dynamic Kevin Lumpkin, known for his hands-on approach to business growth. If you are currently a laundromat owner or are considering entering the laundromat business, this episode is packed with valuable lessons and actionable strategies that you won't want to miss!
Key Highlights:

- Non-Passive Income Approach: Discover Kevin Lumpkin's unique method of actively solving problems and creating challenges to grow his laundromat business, contrasting the traditional passive income mindset in the industry.
- Starting with Limited Capital: Gain inspiration and practical advice for those starting with limited funds or aiming to transition from a 9-to-5 job.
- Remote Management: Learn Kevin’s savvy techniques for managing laundromats remotely using technology and effective employee management.
- Expansion Strategies: Hear about the trials and triumphs of opening a second laundromat in Monroe, Louisiana, and the setbacks Kevin faced, including commercial cleaning contract losses.
- Logistical Solutions: Understand how Kevin integrates "hotshot trucking" to manage logistics and earn extra income while transporting equipment across states.
- Landlord Negotiations: Explore effective strategies for negotiating with landlords, ensuring favorable lease terms, and overcoming challenges in the current real estate market.
Both Jordan Berry and Kevin Lumpkin emphasize the importance of community support and ongoing personal development. Learn how to build relationships within local communities to reinforce your business strategies.
Tools and Resources:
- Book a 1-on-1 consultation at https://laundromatresource.com/coaching for personalized advice on entering the laundromat business.

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