What inspired you to start Spin King?

My wife and I previously invested in real estate, owning multifamily properties, and our original plan was to continue reinvesting in real-estate. However, as the market became increasingly competitive, finding opportunities that offered a reasonable return became more challenging. Laundromats have one of the highest success rates for new businesses, so the opportunity made sense to explore. 

What are your goals or plans for your business?

My goal is to continue growing Spin King into a leading laundry service provider in Pawtucket and greater surrounding areas. I’m focused on expanding our commercial laundry accounts, improving operational efficiency, and upgrading our facility to better support the business as it grows.

How did you hear about BEI?

I learned about BEI through the Rhode Island Small Business Hub, a local nonprofit that introduced me to Nectar. Through Nectar, we were able to access a loan that helped us refinance our credit card debt. It was through that connection that we learned about the BEI program.

What made you decide to apply?

I’m always looking for ways to strengthen my business and new opportunities to learn something that can help me grow as an individual which in turn I believe will also translate into my business. As I look to grow and expand our business, I want to make sure I’m taking advantage of opportunities that can help me grow strategically. BEI gave me the opportunity to have seasoned business owners and advisors take a look at our business and provide crucial insight that would’ve taken years to figure out on my own. Most importantly, it opened a door to continue learning, strengthen my approach to business ownership, and position Spin King for its next stage of growth.

How has the BEI program been so far?

Positive. Steven and David bring a wealth of knowledge that I didn’t have access to before. Having the ability to reach out to someone who knows what they are doing and can provide a perspective outside of my own, backed by years of experience, is invaluable.

What are you hoping to get out of the program?

I’m hoping to gain practical knowledge, systems and strategies that I can apply to different areas of the business to affect change. I’m also looking to expand my network of business owners that would provide a space for me to learn and gain useful insights that I can apply to my day-to-day.

What advice would you give another small business owner who’s exploring their next step?

Stay persistent, remain coachable, and don’t be afraid to explore new opportunities when circumstances change. My own journey from real estate investing into the laundromat industry taught me that sometimes you have to reassess your approach and look for opportunities in a different direction. You won’t always have the perfect conditions or all the answers, but that shouldn’t stop you from moving forward.