For many new investors, securing financing will prove to be one of the biggest obstacles to getting into the business. During this program, we will present information on the typical costs of starting your first laundromat; a basic self-service laundry loan; sources of financing; and the basics of developing a persuasive business plan. The panelists will share with you their experience in financing their first store, what they learned along the way and advice on how to get started.

Panelists:
– Chris Balestracci, owner, Super Wash Laundry
– Rob Maes, owner, Express Laundry Center
– Debbie Dower, owner, Paradise Laundry

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Panelist Bios:

Chris Balestracci is the owner of Super Wash Laundry in East Haven, CT. Chris graduated from Penn State University with a B.S. in finance. He was a varsity member of the Penn State fencing team and served as team captain. After graduation he worked as stockbroker for Paine Webber until 1988. He started in the laundry business with Qwik Wash Laundry in Branford (2500 sq. ft.) in 1988. He expanded the store to 3,500 sq. ft. in 1999 and sold in 2004. He purchased, renovated and sold 4 laundromats over the years. In 2004, he built Super Wash Laundry, which is a 3200 sq. ft., modern, card-operated full-service laundry offering self service, dry cleaning, and drop off. They also have a van that does pick up & delivery service for commercial and residential customers called Laundry-Express.

Chris has been a proud member of the Coin Laundry Association since 1989. From 2003-2008, he served on the CLA’s national board of directors. He received several award from CLA, including the Member of the year in 2003; Distinguished Service Award in 2009; and Outstanding Director award in 2009. From 2006-2018, he was a member of the New England Coin Laundry Assoc. board of directors. He served as past president and vice president of the NECLA board of directors.

Rob Maes graduated with a degree in marketing from Lehigh University in Penn. From 1985 to 2007, he worked in the chemical industry doing sales, marketing and logistics. In 2007, he joined the Coin Laundry Association and started researching the laundry industry. He has opened three new branded card laundromats since 2009 and purchased an existing coin laundromat in 2015 in an underserved north Houston market as an outside investor. Rob has achieved double digit growth every year by managing laundries full time with a focus on marketing and developing in-store drop-off laundry service and commercial laundry service with free delivery. He currently sits on the Coin Laundry Association board of directors and is a frequent contributor to PlanetLaundry magazine.