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Cedarhurst, NY

ABRAHAM SHARABI

Laundryland


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ABRAHAM SHARABI

Laundryland

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Posted By ABRAHAM SHARABI Sep 2, 2019 12:56 PM
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Charles, I'm in agreement with you on this but I just wanted to point out that a card system/store is an entirely separate matter from credit card acceptance.  I often hear arguments against card systems that are based on credit card processing fees. People don't seem to realize that you can have a card ...
Posted By ABRAHAM SHARABI Aug 27, 2019 2:13 PM
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I agree Rudy was the best. I will always be a big fan! i don't know if you heard but the city is now talking about splitting the city into zones and having carters bid for exclusive rights to each zone! ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Aug 22, 2019 7:09 PM
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Michael, NYC can't even hope to hold themselves by the same standards they impose on citizens and businesses. Most street corners in Manhattan for example only have single trash bins as opposed to the 3 separate bins they're now requiring for businesses. To make matters worse there is now a severe rodent ...
Posted By ABRAHAM SHARABI Aug 22, 2019 3:22 PM
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I know this has been asked in the past but its been a few years and it seems prices and legal requirements have increased since then, so what are NYC owners paying for trash removal these days?  My overnight staff separates plastic bottles out of our trash containers and we've been leaving those for ...
Posted By ABRAHAM SHARABI Jul 14, 2019 1:20 PM
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Peter, A year or so ago there was a reddit post that went viral showing the schematics for how to use the heat generated by your miners to heat your water. They obviously didn't have laundromats in mind and I don't mine bitcoin but at the time I thought this might be a good idea. Then bitcoin tanked ...
Posted By ABRAHAM SHARABI Jun 18, 2019 1:04 PM
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I never understood this method.  As as long as there are good margins, why should anyone care if their expenses are neatly allocated to the 25% buckets you mention (and I've seen variants of this methodology w different allocations)? ------------------------------ Avi Sharabi Brooklyn, NY ---------- ...
Posted By ABRAHAM SHARABI Nov 14, 2018 1:42 PM
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You might think low income families don't pay for WDF, but I can tell you you would be mistaken! ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Sep 28, 2018 11:42 AM
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I can't speak to the business case for your specific project but I can confirm that Electrolux are great machines and laundrylux is a great outfit. I bought and rehabbed a 20 year old store approximately 3 years ago. Laundrylux was running a promotion at the time and even though my landlord delayed my ...
Posted By ABRAHAM SHARABI Sep 9, 2018 12:00 AM
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I'm a lawyer who purchased and re-tooled my first laundromat almost 3 years ago. 68 washers, 78 dryers and no regrets. ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Sep 4, 2018 12:03 PM
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I am not opining on the numbers but I do want to point out that Eastern Funding will generally finance 100% of the cost of new machines including installation. When you own the real estate their lending terms bc even more attractive. Talk to them and then prepare a pro forma spreadsheet taking into account ...
Posted By ABRAHAM SHARABI Aug 26, 2018 4:18 AM
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My Electrolux machines came w this setting from the factory. If you ask me "sanitize" is really a misnomer. It is a cold water cycle that flushes all the soap compartments with water and then fills and agitates the drum for 1 min. They tell you you can pour some bleach in the soap compartments if you ...
Posted By ABRAHAM SHARABI Jul 27, 2018 6:25 PM
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I would find a distributor in your area that deals w whatever types of washers you have and see if he can refer you to a engineer/architect that he uses for installations. That guy should be able to figure out the problem. There shouldn't be a problem bolting hard mounts onto concrete pads over a basement ...
Posted By ABRAHAM SHARABI May 24, 2018 12:23 PM
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I'm a non-boomer and that's Judge Reinhold 😆 ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Apr 23, 2018 11:52 AM
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Larry, Why do you continue to fall back on the fallacy that the alternative to DCO (or coin in general) is credit card and loss leading/discount mats? As I've mentioned before, cash only card stores that do not discount are not uncommon and if you wanted to make a comparison with DCO/coin, it should ...
Posted By ABRAHAM SHARABI Apr 12, 2018 1:42 PM
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You're getting ahead of yourself. A purchase agreement is a long document put in place after an offer has been made and accepted. It should be drafted of reviewed by a competent attorney.  I would make an offer in a simple 1-page document that provides that you are making a revocable offer subject to ...
Posted By ABRAHAM SHARABI Mar 15, 2018 1:31 PM
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With a franchise you are paying for a proven system, education, and a name.  There are no names in the laundry business worth paying for (I mean names of laundromats, not machine manufacturers).  As for the system and education, find a good honest distributor in your area and they will be happy to provide ...
Posted By ABRAHAM SHARABI Feb 27, 2018 1:53 PM
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When I purchased my store, I also replaced 20 year old Huebsch dryers w/ Electrolux. The savings is significant but I also replaced my washers and so part of it is no doubt attributable to less dryer time needed due to the high extract washers. ------------------------------ Avi Sharabi Brooklyn, NY ...
Posted By ABRAHAM SHARABI Feb 27, 2018 1:50 PM
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I've had customers come in and ask me about clothes they are missing. At first they are unclear and I get worried that a drop-off customer is missing clothes. I ask for some clarification and they say they left their clothes in the machine (sometimes its washers, sometimes its dryers). "Earlier today?" ...
Posted By ABRAHAM SHARABI Feb 25, 2018 2:48 PM
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"Reasonable" compensation will depend on the going rate in your location so, as Ken said, what you would pay someone to do your job. Try going on craigslist classifieds in your area and see if anyone is looking for laundromat managers and what they are offering. My concern is that I think you're missing ...
Posted By ABRAHAM SHARABI Feb 23, 2018 1:00 PM
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I'm gonna step in here and try to elaborate on Peters comments even though I'm sure I'm gonna get a lot of flack on this one.  There are are two types of ppl that own laundromats and they each have a difft approach and they can each make good money in this business. A) Laundromat operators, and B) business ...
Posted By ABRAHAM SHARABI Feb 23, 2018 12:35 PM
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Whether or not you are "taxed as an employee" has nothing to do with your chosen form of entity. Any type of entity can have employees. And if for some reason you are not going to consider yourself an employee, you can be a shareholder of an s-Corp in the same way that you can be a member of an LLC.  ...
Posted By ABRAHAM SHARABI Feb 19, 2018 11:28 PM
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Tell that to Taxi medallion and black car owners and Uber! ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Jan 2, 2018 5:42 PM
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Dan, You (and others) seem to assume that card systems necessitate bonus dollars and "phony money." My card store (converted to card from quarters when I purchased it) does not give any bonuses for money loaded onto cards.  We sell our cards for $1 (otherwise many of our customers would constantly throw ...
Posted By ABRAHAM SHARABI Dec 22, 2017 12:15 PM
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For those of you in nyc I'm sure you're aware of the new minimum wage of $12/he for companies with up to 10 employees and $13/hr for companies with 11 employees of more (aka "large employers").  What you may not know is how the department of labor calculates the number of your employees. I had to go ...
Posted By ABRAHAM SHARABI Dec 19, 2017 1:21 PM
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I second Paulie's #2. My store is a mob scene between Christmas and New Years. Some ppl apparently have a custom of going into the new year w everything clean in their house so they will wash EVERYTHING. ​ ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Dec 17, 2017 12:25 PM
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Call David Amarando. He should be able to hook you up ‭(917) 734-3999‬ and is trustworthy. Other guys will rip you off. ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Dec 2, 2017 6:46 PM
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When I purchased and renovated my store I kept all the legs from the nasty old formica tables and had them refitted with butcher block. My contractor rounded the edges, sanded and applied a few coats of polyurethane. We also used butcher blocks for the main counter. I bought the boards from lumber liquidators ...
Posted By ABRAHAM SHARABI Dec 2, 2017 6:45 PM
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Posted By ABRAHAM SHARABI Dec 2, 2017 6:33 PM
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I am fully attended including staff for maintenance and routine repairs. The only thing I do is make certain supply orders after my staff tells me what is needed (some other supplies I allow them to order on their own), and empty my card machines and refill my bill breakers. I do my own bookkeeping and ...
Posted By ABRAHAM SHARABI Nov 30, 2017 12:05 AM
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Well this is really my question. The issue is that there is no definitive way as to how the salary "should be" computed. Your method seems reasonable to me, however, my accountant is telling me that an owners salary that is very low in relation to the income generated by the business is likely to be ...
Posted By ABRAHAM SHARABI Nov 29, 2017 2:25 PM
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Don't know about those but printrunner.com makes high quality decals that stand up to soap and water. ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Nov 28, 2017 5:29 PM
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The IRS on the other hand could say - hey, this guy describes himself as the store's  Repairman/Janitor/Shift Fill In Person right in his signature on the CLA forums! Leaving Jim aside though, what does everyone else do and was this done after consultation with your tax advisors? ------------------------------ ...
Posted By ABRAHAM SHARABI Nov 28, 2017 2:31 PM
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Jim, Please see my previous comment. Your case may be different as you have a separate full time job so you can perhaps argue that you do not put any labor into running your business. If I were you I would make sure to discuss this with my tax advisor. ------------------------------ Avi Sharabi Brooklyn, ...
Posted By ABRAHAM SHARABI Nov 28, 2017 2:27 PM
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Dividends are not subject to payroll taxes so that makes the effective tax rate on dividends much lower as compared to salary. You cannot, however, take all your money out as dividends because that tax laws require you be paid a reasonable salary. Unfortunately there are no clear rules as to what constitutes ...
Posted By ABRAHAM SHARABI Nov 28, 2017 12:44 PM
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For those of you that are set up as S-corps, would you mind sharing what percentage of your net income you receive as salary vs. corporate distribution? ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Sep 29, 2017 1:17 PM
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This is a pretty easily verifiable fact. One reason is bc different markets have different buyers (and you cannot assume, as you say, identical buyers). Obviously if buyers were looking at stores nationwide regardless of where in the country they were located, this would change things and they'd likely ...
Posted By ABRAHAM SHARABI Sep 28, 2017 1:01 AM
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What I'm saying is that the multiple that such a store can command will vary by geographic area. To put simply, a store in one part of the country will not necessary sell at the same multiple as an identical store in another part of the country bc it depends not only on the store but also on the geographic ...
Posted By ABRAHAM SHARABI Sep 27, 2017 12:07 PM
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My personal feeling is that in general (Larry V may be an exception, this is not meant to cast aspersions on him) a failing store will introduce free dry out of desperation and this can sometimes cause neighboring store to follow suit out of either fear or necessity. ------------------------------ Avi ...
Posted By ABRAHAM SHARABI Sep 27, 2017 12:04 PM
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What I'm saying is that a broker or at least someone in that market would be able to provide guidance on a customary multiple for that type of store in that particular region. For example, in the NY metro area a large store w parking and new equipment generally asks 5x. A small store w old equipment ...
Posted By ABRAHAM SHARABI Sep 27, 2017 11:43 AM
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I have two A/C units on my roof that the previous owner installed and had cleaned by his staff using a garden hose and this is what I've continued to do. One unit works really well and the other one really poorly. I hired a highly recommended A/C guy to install a ductless unit in the office and asked ...
Posted By ABRAHAM SHARABI Sep 27, 2017 12:48 AM
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I'm not a fan of free dry as a business/marketing strategy but I'm gonna have to side w Larry V on this. Is Amazon guilty of fraud or of violating consumer protection laws bc they offer free two-day shipping but only if you pay for a prime membership? Of course not. Cmon. ------------------------------ ...
Posted By ABRAHAM SHARABI Sep 27, 2017 12:21 AM
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I can't seem to see the pic you posted for some reason but I bought these from Amazon for all coin denominations.  MMF Industries Porta-Count Extra-Capacity Rolled Coin Quarter Storage Tray, 3.38 x 3.63 x 11.5 Inches, 300 Dollar Capacity, Orange (212072516) ------------------------------ Avi Sharabi ...
Posted By ABRAHAM SHARABI Sep 25, 2017 9:57 PM
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Let's try to be conscious of the fact that not all card stores are free dry.  ------------------------------ Avi Sharabi Brooklyn, NY ------------------------------
Posted By ABRAHAM SHARABI Sep 25, 2017 9:41 PM
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Ppl seem to be throwing the 5x multiple around but that multiple will vary from market to market so I'd try to find a laundromat broker in your location and find out what multiple stores are selling at where you are. ------------------------------ Avi Sharabi Brooklyn, NY --------------------------- ...
Posted By ABRAHAM SHARABI Sep 19, 2017 1:09 PM
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FWIW there is a free dry store about 2 miles away from me. I don't really consider us competitors but occasionally I get one or two customers that complain to me that I don't give free dry like they do. To which I respond - "you know you're paying for the free dry in a higher vend price for the washers ...
Posted By ABRAHAM SHARABI Sep 18, 2017 3:28 PM
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I agree with these being a no brainier. Paper towels get expensive. Ppl use too many and flush them down the toilet as well.  I too installed a stainless steel xlerator at the recommendation of my contractor when we remodeled and I am happy with it. I will add that although they are marginally more expensive ...
Posted By ABRAHAM SHARABI Aug 31, 2017 1:32 PM
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The feedback from most business owners seems to be that customers come for the groupon deals which are heavily discounted and then never come again. Of course laundry is a difft type of product so maybe it wouldn't be so bad if customers find a great store/service once you lure them in but it's far from ...
Posted By ABRAHAM SHARABI Aug 31, 2017 1:27 PM
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Have you considered that perhaps their intention is not to damage your brand but only to stay "please don't wash XYZ type of laundry here. For your convenience, here is the name and address of a local laundromat you can use instead?" Now if you do not want to handle XYZ type of laundry I would try giving ...
Posted By ABRAHAM SHARABI Aug 10, 2017 12:56 PM
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For some of you guys that specify the name of the attendant that did that load of laundry, are you at all concerned that customers will start requesting specific attendants? In my store we train attendants with the goal of uniform folding and packing presentation specifically so that customers will not ...
Posted By ABRAHAM SHARABI Aug 9, 2017 12:09 PM
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Larry, I don't disagree with your sentiment regarding discounting. It just seemed you were suggesting a causal relationship between this and Larry V's card system.  I also of course agree that every owner must make their own decision. All I'm saying is that if we are going to compare these systems we ...