Visibility and AccessibilityĬhoose a location that is easily visible and accessible to potential customers. A laundromat may be more successful in an area with a high population of renters or people who don’t have access to their own washing machines.
Here are some factors to consider when choosing a location: DemographicsĬonsider the demographics of the area, such as population density, income levels, age range, and family size.
24 HOUR LAUNDRY FORT WORTH TEXAS HOW TO
How to choose a location for your laundromatĬhoosing the right location for your laundromat is essential to the success of your business. You can also advertise on social media, hand out business cards, and hang flyers in the area. Put up clear signage, and add your business on google maps. In any case, you’ll want to let people know you exist.
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Will it be a 24-hour laundromat or run only during daytime hours? Will it offer full service (you do the washing/drying/folding), or be fully self-service, with no attendants at all? Will it be a hybrid model, such as a laundromat-cafe? This will determine how you advertise your new business and who your key demographic is. This will make a clear roadmap for your operations, and boost confidence from your investors.Ĭonsider the concept and brand of your establishment. For most small businesses, an LLC can provide the most protection, making sure you are not personally held liable if your laundromat is sued.Ī standard business plan includes an overview of what your business is and does, a market analysis of how you compare to competitors, an overview of your company structure, your marketing strategy, and, of course, your budget. Keep in mind that with sole proprietorship, there is no legal distinction between you and your business. On average, a laundromat in the USA will spend $350-$750 a year for $1 million coverage under general liability.Īs you dive into the legal end of owning a laundromat, you will need to decide what your business structure will be. General liability is a great catch-all, covering property damage, injury, and advertising injury. Machines break, customers trip you’ll want to make sure you have insurance to protect you in the event of unexpected costs. Other supplies and features to consider include laundry carts, cleaning equipment, garbage bins, clocks, signage, security cameras, soap, TVs, and Wifi (totalling $1000-$2000).Įven a laundromat is a business that’s built on water and electricity, utilities are going to be your largest ongoing expense, costing between $4,000-$8,500 a month. These systems typically cost between $40,000 – $80,000. You might also consider adding a card reader system, so that customers can pay via a laundry card (similar to a credit card) instead of carrying change. Maintenance and repair on a machine will cost between $120 – $500 per service call. A typical laundromat will have between 40 and 100 washers and dryers, so with new machines you’re looking at a total cost of $32,000-$260,000. Equipment and SuppliesĬommercial washers and dryers cost between $800 – $2,600 apiece, and typically last 10-15 years. Keep in mind that if you’re buying an existing laundromat with machines, the property will be more expensive, but you won’t have to invest in as much renovation or equipment purchase upfront. Depending on where you are, this will cost between $200,000-$500,000, and could be as much as $1 million or more. It depends on whether you’re buying an existing laundromat or starting from scratch, as well as the average property prices in your city.įirst things first, you need a location! An average laundromat is 2,170 square feet. On average, it costs between $200,000 and $500,000 to open a laundromat. How much does it cost to open a laundromat? With an ROI (return on investment) of between 20-35%, laundromat businesses have a 94.8% success rate, bringing in a gross income anywhere from $30,000 to $1 million a year. Typically serving lower-income renters who may not have washer-dryers at home, laundromats are a fixture in the neighborhood, with 87% of customers living less than a mile away. The laundromat business model is straightforward: this is a place where people go to wash their clothes. This article will dive into some of the nitty-gritty of opening a laundromat business, covering projected costs, insurance, loans, budgeting, and more. But how much does it cost to open a laundromat? Of course, starting a small business of any kind requires quite a bit of planning. So you’re thinking of opening a laundromat! No doubt you’re aware it’s a stable industry (people always need clean clothes!) that generates passive income, with a high return on investment.
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