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The Smart Passive Income Podcast

AP 1052: Have I Made All the Money I Can in My Niche? What Else Could I Do?

AP 1052: Have I Made All the Money I Can in My Niche? What Else Could I Do?

By Pat Flynn on

I wouldn’t recommend starting out in Laura’s niche—it’s that specific—but she’s the go-to resource in her niche, which is laundromats! To use her metaphor, Laura feels that she might have “squeezed all the juice” out of her business—meaning that she feels it’s capped out. Well, today I’m going to give her a different metaphor, as well as some tactics for bolstering her earnings from Laundromats101.com. Let’s get started!

In this episode I mention Session 75 of The Smart Passive Income Podcast—”Six-Figure Earnings with Ebooks (Not on Amazon) and a Pricing Structure That Works with Nathan Barry”. If you want more information on pricing tiers and positioning for your business, it’s a great place to start.

Laura starts out by describing how she and her husband fell into the laundromat niche—she describes herself as an “accidental entrepreneur”—and how she was able to grow so quickly through blogging and word of mouth over the internet. Yet, despite their best efforts their income hasn’t increased, and Laura feels that they might have reached a peak in their earning potential. I offer strategies for affiliate partnerships, pricing tiers, framing and positioning, and more. Laura closes the call with a total shift in mindset, excited to double or even triple her monthly earnings!

What You’ll Learn:
Learn how to increase niche site earnings through affiliate partnerships, price point framing and positioning, and more.

AskPat 1052 Episode Transcript

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Pat Flynn: What’s up, everybody? Pat Flynn here, and welcome to Episode 1052 of AskPat 2.0. This is the podcast where you get to listen in on a coaching call between myself and an entrepreneur like you. And my goal’s to have you walk away from listening to this episode, with something in hand, or in your mind, so that you can implement, and grow, and scale your business, or start it if you even haven’t started yet, which is totally cool too.

Anyway, we’re gonna have an amazing conversation today with Laura, who found a really specific niche. And, typically, if I were to get a list of niches, and her niche was in there, I’d probably wouldn’t recommend that this one would be the one to start with, but she accidentally stumbled upon becoming the go-to resource for laundromats. Like, laundromats, with washers and dryers and physical locations. She’s become the go-to resource at Laundromats101.com, but our question today, and our conversation is about, well, there aren’t very many of them, and how . . . She’s tapped out, seemingly so, the income that she could potentially generate with a book and other things. We’re gonna talk today and break down a very specific strategy for Laura so that she can take what she’s started and optimize it, and scale it, and exponentially grow.

And you’ll hear the difference in the intonation in Laura’s voice from the start to the finish, and you can see that, at the end, she’s really excited about the plan that she has going on. And what’s really cool, is it’s not a lot of extra work beyond what she’s already done. And, this is very common for a lot of entrepreneurs, to just have, literally, opportunities right in front of you that you just need somebody on the outside to tell you, “This what you could do with what you’ve already built.”

Make sure you stick around listening, hit subscribe if you haven’t already. We got a great show coming your way. Before we get to that, however, I do wanna thank today’s sponsor, which is FreshBooks, one of my favorite companies, because they help us organize our business finances, and remove the headaches and stress that come with that. Everything from automatically keeping track of expenses to obviously, keeping track of your income, and easily invoicing people.

Literally, in less than thirty seconds with FreshBooks you can create a professional looking invoice so you can get paid, and get that money, and grow your business and serve even more people, which is really cool. They are also very good at getting that documentation ready for tax season and all that stuff that your CPA or you might need to better organize your taxes, especially with your business, which can be confusing sometimes and very daunting.

Make sure you check out FreshBooks for free for thirty days, free trial available, completely all open access for this free trial, thirty days. All you have to do is go to FreshBooks.com/askpat and make sure you just enter “Ask Pat” in the “How did you hear about us?” section, so they know you came from here, and they’ll hook you up.

All right. Now, it’s time for the coaching call with Laura Dobbins from Laundromats 101. Here she is.

Hey, Laura. Thanks for coming on AskPat 2.0, thanks for being here today.

Laura Dobbins: Thank you so much Pat, I’m really excited.

Pat Flynn: Oh, this’ll be a lot of fun. Why don’t we take a quick moment here, to share with everybody who’s listening what it is that you do, and how you got into it, little bit?

Laura Dobbins: All right. I was an accidental entrepreneur. I think that’s a thing.

Pat Flynn: I was too.

Laura Dobbins: I guess that’s true. And, I mean, essentially, if I just boil it down, I founded a website called Laundromats101.com, and as in, yes, the self service laundry. Some people are like, “Did you say laundromat?” Yes, Laundromats101.com. It’s a site where we just help people become laundromat owners, and we also help people that already own a laundromat put their business into high gear and make some changes, so that they can improve their incomes and that sort of thing. But it started accidentally.

We had our personal finance blog that was just . . . We were just dinking around with, and we thought, “Well, we’re intp the passive income thing,” and this is actually where we found you back in 2014, 2015.

Pat Flynn: Wow.

Laura Dobbins: I typed in “passive income”, and you came up. But I also, at the same time, happened to see laundromats, but I came back to you later. But, oh, we found the whole laundromat business idea and went, “Oh, that’s cool.” We bought a laundromat, but we started blogging about it. We didn’t realize this was gonna happen, that people went crazy, I mean, in that world, I guess.

I mean, we went from 500 readers a month to 10,000 readers a month in just a matter of maybe six months or so. And we just realized, we’re leaving money on the table, and that people really did want more help than we were providing just on these blog posts, as detailed as they were, really. We gave a lot of information. But people were reaching out to me: “Can you please coach me, I will pay you.” I just kept getting these different questions from people, and we thought, you know what, we could help people, and make some side income from this very unexpected source.

That’s how we fell into it. We wrote an ebook, and we’ll probably get into that later, but we wrote an ebook, put it on there, started selling immediately. And, that’s just how it all started. In the meantime, we have these laundromats we own. I mean, I own two, and I still have my day job. I work in finance analytics. I have that day job that I also have. We fell into this niche.

Pat Flynn: That’s amazing. I’m smiling so big right now, just cause, what an amazing story. I’m curious, if you could pinpoint how your website and exposure grew so quickly, you said six months, and then you had 10,000 readers. How did that even happen?

Laura Dobbins: Yeah. I tried to figure that out, and the only thing I can really figure—I mean definitely most of our traffic comes from Google, and it’s one single blog post that we wrote gets probably 80 percent of our traffic. And what I tried to do was what you’re asking, is “Where did this come from? Why do people start looking at us?” I started Googling me or our laundromats or laundromat investing business, and I was finding all of these little random places where people were plugging us, like on Reddit, and just random forums, passive online income forums.

And I thought, “Well, I mean, I guess that starts generating some buzz.” And that’s all we can really figure, is that we slowly crept up the Google search results until, right now, we’re in the top five non paid organic search results for a lot of top laundromat terms. It just was natural organic growth, but we figure it’s people just plugging us all over the inter webs.

Pat Flynn: I mean, that’s awesome. Do you mind me asking what was that one blog post, or what was it like, or what was the theme?

Laura Dobbins: Yeah. ‘Cause we’d been blogging about our purchase process initially. It was literally, we started our blog posts like, “Guys, hey, we’re excited, we’re gonna buy this laundromat. Wanna join us on this journey?” And, we went, “We found the laundromat we want,” and we started blogging all that pre-purchase stuff. Well, we got to the point where we had actually officially owned it, and we wrote a blog post called, “We Bought a Laundromat, It’s All About the Numbers.”

And, I went in and I just dug into all of the financial stuff, ’cause that’s where my brain goes. I put all of the financial stuff, I told people the story if they needed to catch up, if they hadn’t been reading the prior posts; they just, in a nutshell someone coming in would be able to go, “I see what they did, and here’s all of the calculations that they went through in order to make sure this business was a good investment financially.”

Pat Flynn: It’s so cool. Reminds me of the income reports that I do. You’re just being very open about the process.

Laura Dobbins: Exactly. We’re very transparent, that’s what people kept saying to us, was like, I don’t know, I think it’s funny people would say, “Laundromat owners, they’re a really quiet owner. They don’t wanna talk. They just don’t.”

Pat Flynn: And then here you are.

Laura Dobbins: And here I am with a microphone online, like, “This is what we’re doing.”

Pat Flynn: That’s so awesome.

Laura Dobbins: That’s how it came. That, in that blog post, is still pretty much the main thing that brings people to our site today. It’s still the number one traffic generator.

Pat Flynn: That’s great. Well, good for you and congratulations. Everything, by the sounds of it, is like, “Oh, great. Everything’s going well.” But, obviously, we’re here for a reason. Why don’t you tell me what’s on your mind?

Laura Dobbins: Okay. Essentially, my husband and I, we—oh, I mentioned we were on the personal finance blog first, that’s where it all started, and it was not related to laundromats at all. We realized, “We’re gonna start selling this book.” We sold the book, it’s six months later, it’s still selling about $1,000 a month, consistently. I’m like, “Wow, the kid’s gotta be able to grow from here.”

We decided, “We’ll build the official website.”, which is the one that I mentioned, the Laundromats101.com. We built that website thinking, “It’s gonna sell even more, we’ll be so much more legit.” People will like these posts ’cause mom and pop, these are people really knowing what they’re doing.” And we did that. I built the new website, I put all these articles up, and I got all this great feedback. People are like, “Oh my goodness, I spent an hour on your site, I love it.”

You would think, or it looks like we did, that, “Oh man, the sales are just gonna be . . . We won’t keep up.” I mean, it’s online and passive, but, it will be like, “Wow.” And then, nothing increased. I mean, we got maybe a triple more, maybe a 5 percent increase for a week. But that was the only thing we were selling at the time, was just the book package. It’s an ebook, and then it has some financial Excel templates where people can plug in their numbers, and it’ll help them get a grip on whether it’s a good investment or not, and blah, blah, blah.

We were selling it for $39 bucks. We still are today. Anyway, fast forward, and we’re realizing, “Well, that really didn’t work.” We thought that would. Maybe we look too corporate. And I actually remember, I picked, I’d mentioned your site. “We know Pat’s site is . . . He’s woven in there throughout. He’s the thread through his site.” You see you everywhere, your pictures, “Hi, I’m Pat.” It’s very clear who’s behind the site.

In ours, I think we’d gone the opposite direction. We went from, you couldn’t miss who we were and who was behind the site, to now, I think, we’re too corporate. And now we just look like we’re Entrepreneur.com/laundromat.

Pat Flynn: Right, right.

Laura Dobbins: We thought, “Next step.” I’ll try to make this more succinct, but essentially we went through and made all of these, what I perceived to be improvements. We incorporated ourselves more into the site, we took . . . I did a photo shoot, and we have our pictures, and we improved our product photos, we polished up our landing pages. I mean, I used Leadpages, we did all of these things, thinking, “Wow.”

And then, we did it, and it was the same. It just was the consistent $1,000 a month, maybe up a little bit, but it was nothing detectable that we could really say was based on our improvements that we made.

Pat Flynn: Right, right. Was there additional traffic coming to the site, or did that kind of remain the same as well?

Laura Dobbins: It’s actually been consistent. Yeah, the traffic remained the same. It’s like, we felt like, “All right, if the traffic is . . . ” I mean, we weren’t even obviously doing paid ads, and being up in the top five organically was like, “We’ll let that ride.” The traffic hasn’t really changed anything, or changed much, but it’s still about the same 10,000, up or down, readers per month.

That’s where we’re at. We just kept making these improvements, and then we said to ourselves, “Now wait a minute, let’s take a look at our niche itself. Is the niche itself, perhaps, self limiting, in the fact that . . . ” Your business, Pat, obviously you’re an online business, you . . . The barrier to entry for the average person, if they’ve got $50 bucks and a lot of time on their hands, they could bootstrap the heck out of an online business. And, it might still take time obviously, to get it going and stuff, but you can just bootstrap it.

We’re buying a laundromat, there’s the significant financial barrier to entry there. Not everybody can just decide, one day they’re gonna be a laundromat owner, and then they’re done a month later. It’s like, you really have to have some cash reserves, even if you get the seller to finance it, you still have to have some deposit or good faith money, utility deposits.

Pat Flynn: How much would you say would be required to start a laundromat?

Laura Dobbins: I would say, at the minimum, including, if you did like a 25 percent down payment on a $100,000 laundromat for $25,000, I’d probably say $35,000, 40, is like the minimum, to be able to get in. And that’s being, like I said, that’s being little bit conservative. We ended up spending, initially, $50 grand. That was our cash that we basically invested in purchasing our first laundromat. That was our concern, was that, well, are we squeezing this orange, and now we’re to pulp, there’s nothing left of the juice.

The juice has been gone. We’re squeezing this orange, and nothing else is coming out. We’re like, “Do we just recognize that our niche is already so narrow that, there’s really not . . .” I mean, people are coming over, but I think, they’re . . . I didn’t want . . . Let me back up. I didn’t want people to misunderstand, and think, “Oh, anyone, no matter who you are, and how much money you have, you can have no money, no credit—come on down. You can be a laundromat owner too.” I didn’t wanna be that person.

I wanted to be real and transparent about it; it does take money. You do have to have . . . It’s an investment, you have to invest some of your money in it. I think some people come and go, “Uh, I’m either not quite ready for that,” or, “I’m never gonna be ready for that,” and they just move on, which is fine, but those are not our customers. And, we’re just wondering if that self-limiting part of our business is one of the reasons we need to go, like I said, “The orange has been squeezed with this.”

Pat Flynn: Well, I mean, to me the analogy isn’t correct. Your orange that you’re squeezing is just the group of people who this would be even interested for, and have you maximized the amount of people who have seen that. Where I think the conversation needs to go is, if you imagine the analogy that you are a fine dining restaurant and you serve a very particular type of food that’s in a very remote location of the world, right?

Laura Dobbins: Right.

Pat Flynn: There aren’t many people who A, even care about that food, or B, like that food, but there are people there who just, that’s all they . . . They would love that. That’s a very small niche, but you are serving that audience, there’s just not very much of them, compared to people who like sushi, for example. But, what I think .
.. The problem is, is that you have one thing on the menu right now: You have an appetizer for this audience who are there for fine dining. Right?

Laura Dobbins: Right.

Pat Flynn: You just told me that it would take maybe $35,000 to even get a laundromat up. Your book is $39. They’re robbing you, essentially, for the kind of information that you have. Now, I wouldn’t charge more for the book, I think that’s a great entry level product, but based on what you . . . Where do you think I’m going? What do you think I’m gonna say next?

Laura Dobbins: Well, let me . . . Back when I applied, we weren’t sure, honestly I didn’t think you guys are gonna pick me, so I just went, “Well, I’m gonna just figure this out.” We did. I’ll give you a heads up here. We did go ahead and go, “I think we need to expand our product line a little bit, so that there’s another level of information people can purchase.” I’ll just unwrap the box right now. What we did is we created a, it’s an online course in the sense of Teachable, it’s an online PDF lesson course. They get one drip-fed to them, they can also access it anytime, but they get a drip fed to them through our ConvertKit system.

That we started, we rolled out a launch actually, just a month ago. And the official price was $149, and we discounted it just for our subscribers to $59. We rolled it out. We did the whole lead up, and it sold . . . We sold 22 of them. We got $1,400 dollars in 72 hours. We just did a three day window. I thought, “22 people bought it, and . . . ” but then I went, “All right, what does that mean?”

Clearly people wanted it. Our next step was going to be, if I didn’t hear from you or whatever, I was just gonna go ahead and launch it into an Evergreen sales funnel of some sort, which I haven’t done yet, but I’m figuring that’s where I’m probably going to end up going next. But in the meantime, obviously, you picked me to coach, and I’m like, “Well now . . .” I’m like, “Everything’s on the table. What do I do? Should I not do that anymore? Should I . . . ” I mean, I don’t know what you . . .

Pat Flynn: Right. Well, I mean, this is why we’re talking, and I’m so glad that you . . . I tee it up for you, and you know what to swing at. That’s good. I hope the analogy makes sense.

Laura Dobbins: It does.

Pat Flynn: This a very specific group of people who want all the things about that thing. Very similar to the food truck website that I have, right.

Laura Dobbins: Yeah.

Pat Flynn: It’s a very niche thing, but when you’re investing in a food truck, for example, I mean, you need over $100,000.

Laura Dobbins: That’s a perfect example. ‘Cause I was talking to my husband about, “Pat had the LEED Exam . . . ” and you have the security guard website. And those were very . . . They weren’t big investments, but people really were thirsty for getting that information. I was having trouble paralleling over, but I’d forgotten about the food truck, food truck website; then that’s more our angle. Our piece of the pie is the bigger investment that people are . . .

Pat Flynn: Right. There’s a few things here. Number one, people who start a food truck, very similarly, large investment, they wanna do it right. They wanna take the time to make sure that they got all the ducks in a row, to make sure things happen correctly, and that it is a wise investment. In the food truck space, for example, it’s not just information about your food and getting your truck up, but it’s insurance, it’s all the other things, which open up a lot of opportunities for leads to insurance companies, or leads to where you go buy your truck, or leads to companies where you get the equipment, and all that stuff.

I mean, you could potentially be an affiliate for all the equipment at the laundromat. You could have a partnership with, for example, a company who
. . . I mean, you guys are the go-to place for a laundromat. I mean, there should be a partner like, I don’t know, MayTag, or Whirlpool, or whatever, who just would just love to partner with you, knowing that they’re gonna get . . . I mean, you have 10,000 people who are interested in potentially creating a laundromat one day, coming to your website.

These companies pay millions of dollars in ads to people hoping there are some people in that audience who are gonna be interested in their product. That there’s interest in—

Laura Dobbins: That’s enough traffic then. I was wondering about whether we’re gonna be on the radar of MayTag, or anybody really. I thought, “Is that even enough traffic to make an advertiser interested?” But it sounds like you think it’s possible. Right?

Pat Flynn: And you don’t know unless you try, just like how you applied to AskPat. Keep the streak going, but . . . There’s a lot of affiliate opportunities, there’s a lot of opportunities for things like insurance, and all the auxiliary things beyond . . . And you obviously probably covered this in all the things that you might need to set up. I mean, just dive into that checklist and go, “There’ll be opportunities to partner with a company who can better serve my audience because they’re more expert on that particular check mark.” That’s number one.

Number two, is there are likely . . . And we found this in our audience, we have a book that is a how to start a food truck book, and it is, I think the base price is, we change it ’cause we test, but it’s lower level to start, like $39.99, similar to yours. But then, we also have, “Hey, if you want all the extra things, here is the middle price, and this is a huge deal, because you get access to these spreadsheets and the business plan. You also get this additional bonus. That’s $79.99. But, if you want the platinum package to get everything you need, here it is at $199.” And guess which one of those is selling?

Laura Dobbins: Oh my gosh.

Pat Flynn: The highest level price.

Laura Dobbins: The highest one. I’m sorry. I didn’t wanna interrupt you.

Pat Flynn: No, no, it’s okay. It’s not even a different product, it’s not even an online course, it’s literally the same product with more added to it, because they’re already seeing that sales page.

Laura Dobbins: That’s, for you that’s . . . You got me thinking now, ’cause I’m thinking the package that we sell for $39.99, I feel, from what you just briefly said . . . but it’s a little bit close to your platinum package, and we have a business plan template in there, we have all the . . .

Pat Flynn: Break it up.

Laura Dobbins: . . .financials, and I’m realizing, if I was to do that, how do you, and maybe I can look at the food truck in this example, but, how do you present those options to people? I mean, it’s on the sales page, and all three are there, and you’re like, “Uno, dos, tres . . . Here’s the three options.” How do you promote it?

Pat Flynn: Exactly. It’s like, “we have three different options for you to get involved. We have the economy package, which is just the book.” And you can name it whatever you want. Maybe it’s the . . . No, actually, you don’t wanna get too creative with it. ‘Cause I was gonna say, maybe, “Here’s the pre-rinse cycle . . .”

Laura Dobbins: There are so many laundry jokes, and plays on words.

Pat Flynn: Oh, I bet, I bet. Like, “Let’s keep the website cleaner.” Whatever. You have the economy package, we’ll just call it that, or the silver package, which is . . . It’s often done in that silver, gold, platinum. Silver is just the book alone, just the book. And you promote it as that, just the book, cheapest price, but, here’s the middle tier, which you would call the most popular, or the best deal, or whatever that phrasing might be, recommended offer would be the middle one.

But then the premium package has all the goodies. And you like the already . . . I mean, I did this with Green Exam Academy. I actually didn’t do the tiered pricing, which I should have done. There’s so many more things I wish I could have done with the Green Exam Academy. I could have created an online course, I was just too scared. But one thing I did was I had the book, and I had all . . . I had this section at the end of the book that was all the charts and the flashcards, and I just included it in the book, and I went to a mastermind group, and they’re like, “Pick that out and just call it a bonus.”

And I’m like, I didn’t understand positioning, I didn’t understand framing, but, man, it worked. It works so well to just go, “Hey if you get this right now, you’ll get these bonuses too.” And it just sold like hotcakes, ’cause people were like, “I want the bonus,” and I had people like, “it would be weird of me not to get the flash cards, ’cause that would help me. Of course I’m gonna get it.”

For you, it would be like—

Laura Dobbins: It’s just like a, “Duh, like, of course.”

Pat Flynn: Exactly. Again, that just frames it, and again, it goes like, “Well, you know what, I . . . ” If they can’t afford the platinum one with all the things, then let them start at the $39, book only, and likely in the book or perhaps later when you add this, you can go, “By the way, if you’ve enjoyed this book and you don’t have yet access to these other worksheets, and other things, we actually have a special deal just for you since you have this book, and . . .”

Laura Dobbins: Oh my goodness.

Pat Flynn: You don’t need to create, necessarily, a new course or new anything. You have the things already, it’s just reframing it.

Laura Dobbins: Right. Is it’s funny you said that, because I had someone that asked me, “The bonuses and the templates and all that, those are probably great, but I really just want the book, could you just sell me the book by itself?” And what I did is I went in, ’cause the book itself actually references the templates. But I went ahead and created a version of the book just for this guy, because he asked for it.

Pat Flynn: And did you discount it?

Laura Dobbins: And I did, I discounted it.

Pat Flynn: Oh.

Laura Dobbins: I did, I discounted it. I only charged $29, which sounds so silly now, because those bonuses are worth a lot, people have told me that, students have told me that, but . . . I sold it to him for $29 bucks, like, “Really, dude, you don’t wanna spend another $10 bucks and get the bonus, whatever? Fine.” I redid the whole book, just the references, removed all the ones that actually referenced the bonuses. Now, I do have a standalone version that can be sold on its own already. I have the silver already ready to go.

Pat Flynn: Perfect. And you know what’s cool about this, having these different tiers, is you now have room to play with. “Hey, guys, it is Fourth of July weekend. We’re doing a massive sale, you can get the platinum price at the gold price just for this weekend alone, or something.”

Laura Dobbins: How right. Right, right, right. That’s—

Pat Flynn: Now you have more room to play with. Cyber Monday, which just happened . . .

Laura Dobbins: I know. There’s plenty of holidays.

Pat Flynn: How are you feeling after this conversation?

Laura Dobbins: I’m feeling great. I feel there’s so many different little . . . These notes in my head that I’m thinking, “I can try that, I can try this.” I feel I have a whole new look, and take on where this can go.

Pat Flynn: Epic.

Laura Dobbins: Because I wanted to still keep it passive. I mean, that’s the whole point was, I don’t wanna make this a full fledged, full time business. I know a lot of your students do. I love my full time job, I make six figures already. That’s good, and I wanna keep that gravy train rolling too. But I feel I could implement almost everything we’ve talked about, and passively, and not have it, you know what I mean . . . It makes so much sense.

Pat Flynn: There’s an episode of the podcast I did, Episode 75. This is an old one back in 2013, with Nathan Barry before he created ConvertKit.

Laura Dobbins: Oh.

Pat Flynn: And it’s called “Six Figure Earnings with Ebooks (Not on Amazon) and a Pricing Structure That Works.” And he’s the one who introduced me to the three tier book pricing. That would be Episode 75, and that would be some . . . If you have some time to listen to something.

Laura Dobbins: Oh, definitely.

Pat Flynn: Episode 75, with Nathan Barry, and . . . Now I’m at the restaurant, and I go, “Oh, I’m gonna have the appet—Wow, this is the chef’s special. I’m gonna get the special, because I’m here, and I don’t often get a chance to do this, and I just want . . .” And then, often at restaurants you see the family platter, and then you see that one thing that’s $500 bucks. It’s the burger with the Hennessy, and some people get that. Some people get that.

Laura Dobbins: I’ve read books about that. Where about . . . I can’t remember the one I read, but it was something about, that it was the $150 cheesesteak in Philadelphia, and people buy it, because it’s such a novelty, and it’s like, “What?” People are there for that, that’s what they . . . Do you think the course then that I have, that—we’ll keep calling it a course, the series of lessons that we’re selling also. How do you think I should incorp— Should I just plug that from the book sales?

Pat Flynn: Here’s what I would do with the course, since you haven’t already, which is great. And often I don’t recommend creating a course, ’cause it takes a lot of effort to do, but you already have it, so that’s fantastic. Here’s what I would do: Every once in a while, I would launch the course, and I would launch it publicly to everybody, but to your book readers, I would go, “Hey, here’s a special deal for you. Hey, you know what, the book in the platinum package, it has everything you need. And if you have everything you need, great, but you know what, some people need a little bit more help. Some people need some hand holding and accountability through this process, where they wanna go deeper into videos, and if that’s you, here’s the next solution. And by the way, since you already got the book at this platinum price, or whatever, I’ll subtract the price of that from the course.”

Essentially they’re not paying any extra than they would have.

Laura Dobbins: Exactly. Exactly.

Pat Flynn: And they’ve gotten a taste of what it was like, and they’re like, “Man, I need more, I need deeper, I need videos.” Boom.

Laura Dobbins: All right. Oh, awesome.

Pat Flynn: You got this.

Laura Dobbins: You breathe new life into this, for me, Pat.

Pat Flynn: And we’re talking about laundromats, it’s like, how awesome is that?

Laura Dobbins: I know. I was ready to move on and go, “Well, I’ve got other online ideas. I’m gonna move on to those, and I’ll just let this one ride, and let the thousand dollars continue for perpetuity.” But now I feel there’s some more knobs I can turn.

Pat Flynn: I mean, I can imagine three to five-k a month very easily after this.

Laura Dobbins: Right. If I do it right, yeah.

Pat Flynn: I mean, just imagine $39.99 so that . . . You have about 25 customers a month; imagine if they were each to pay instead, $100. I mean, that’s $2,500, one and a half times your money already.

Laura Dobbins: Right. Because I’m definitely not maximizing . . . The people that buy our book, they’ll occasionally write to me, go “Oh my goodness,” and some people like, “I got a laundromat, thank you so much. I followed your program.” But I—

Pat Flynn: Oh my gosh, are you collecting their stories?

Laura Dobbins: Ah, yeah, I did testimonials. It’s one of the things I did on the site that did bump the needle, that did make the needle go up. When I put testimonials with pictures, I asked them if I could do it, and they provided me with these, so yeah. Side note, that did help.

Pat Flynn: I mean, you should do full on blog posts, with their stories as examples.

Laura Dobbins: I’m writing this down.

Pat Flynn: And then, just be like, “Hey, by the way, where do they get this information to do this? Right here in this—

David: Hello everyone, my name’s David. I edit Pat’s podcast. What Pat’s about to say sounds a lot like something he didn’t intend, but I just want to assure you that what he’s actually about to say is “book,” that’s with a B, “and course.” Trust me, I’m a dad and I can tell the difference. Back to the program.

Pat Flynn: —here in this book and course, platinum package.

Laura Dobbins: That’s a great idea. Blog posts about their journeys too.

Pat Flynn: Oh, you have all the pieces already.

Laura Dobbins: I do. I do. Goodness, thank you Pat. This has been phenomenal, honestly.

Pat Flynn: Awesome. Well, you’re a rock star. I hope we can consider having you come back on the show to give us an update once all this is implemented?

Laura Dobbins: Oh, definitely. Definitely reach back out, yes, for sure.

Pat Flynn: We’ll connect later in the year. Thank you so much. And where might people go, one more time, to learn more about laundromats?

Laura Dobbins: Sure. It’s Laundromats101.com.

Pat Flynn: There it is everybody, thank you, thank you, Laura.

Laura Dobbins: Thank you, Pat, so much.

Pat Flynn: All right, I hope you enjoyed that coaching call with Laura. Wow, I think that this is set up for major success here, and I cannot wait to see how she implements the tier strategy with her book and the offerings that she has. A lot of times, what this really comes down to is we wanna serve our people and give them as much as we want, and we can, but we often undervalue the offerings that we have.

And for her to give everything away at the lowest price point there, I think that’s the base price point. Especially when you consider just how much money this particular audience is investing, there’s not gonna be a large audience. I think the thing we’ve established, there’s not gonna be a giant audience here. She’s not gonna have millions of people visiting her website every month, and getting her offers, but to those who do, they’re gonna be very inclined to wanna go deep and make sure they have all the right information.

Because it is a large investment, and a $39 book almost is like, “Whoa, this, I mean, this is cheapo. I don’t know what the value is here.” I definitely think she can increase her price points in her offerings, and do very, very well. Laura, we’re gonna have you back on the show in the future. I’m sure that we’re gonna see how things go.

And if you wanna make sure you subscribe, do that, because that way you don’t miss that episode plus all the other episodes that are coming your way, both people that we are coaching for the first time and people that we’re bringing back to see how everything goes and progresses. Make sure you hit subscribe if you haven’t already.

And if you wanna get coached just like Laura today, all you have to do is go to AskPat.com, and you scroll down a little bit, you get some information about the show that you may or may not know already. You will also see a list in an archive of previous episodes and coaching calls, and then finally, you’re gonna see an application button there too, where you can apply. I cannot possibly select everybody, but I do select people who apply obviously. And, if you wanna give yourself a chance, apply, and tell me about your business in that application, and hopefully we’ll have a conversation just like with Laura today, with you.

Again, thank you so much for listening in, I appreciate you, you’re amazing, cannot wait to serve you in the next episodes. Team Flynn for the win. Have a good one.

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