How to Get Into the Laundromat Business
You can start up a new Laundromat or buy an existing one. If you're starting from scratch, research the area to find the best spot for your business, somewhere with lots of people who rent apartments, and hopefully little competition. If you're buying a laundromat, make sure it's worth the investment. The location will really determine your potential sales, so make sure you have a good possible customer base. Nearby conveniences like shopping and entertainment venues also tend to boost sales.
The majority of laundromats operate under a long-term lease (8-10 years at a MINIMUM). After the initial expenses (such as buying machines, tables, vending machines, couches/chairs, decorating, signs, etc.), your expenses will be fairly steady.
Laundromat Operating Expenses
Rent
Electricity and water
Basic utilities (gas heating/sewer/garbage)
Advertising
Insurance
Repairs/parts
Employees (janitorial, and attendants if any)
Camera security system
Vending inventory costs
Accounting
Property and business tax
Making it a community gathering place
Dingy lighting, dirty floors and equipment, and few extra services drive customers away. In today's marketplace of flashy store fronts, a pleasant atmosphere is essential.
The good news for small business owners is that most successful Laundromats don't operate under big chain names. But that doesn't mean they don't have to keep up with trends. New conveniences make the difference today in retaining customers—from tanning beds to lattes.
What Laundromat Customers Want
Quicker, cleaner machines
Card payment options
Internet kiosks
Snack and coffee sales
Kids' play areas
Clean and well-lit environment
Wash and fold services
Grocery shopping nearby
Clean restrooms
