Home   /   Laundromats   /   How Much Does It Cost to Open a Laundromat?

Search Results

How much does it cost to open a laundromat?

Are you curious about investing in a laundromat but looking for expert advice on the costs associated with this business venture? You've come to the right place! Coin-O-Matic has been in business for over 100 years, and we have the industry expertise and experience to guide your business venture!

Let's look at the numbers to see how much it costs to open a laundromat!

Cost to Open a New Laundromat

The start-up costs for opening a brand-new laundromat are substantial. Generally, we advise business owners to budget for at least $200-$300+ per square foot for laundry equipment, amenities, and the buildout of an existing vanilla box. Typical laundromats range from 2,000 to over 5,000 square feet, costing between $400,000 to over $1,000,000 all in. We typically recommend that a potential investor have at least $600,000 in liquid investment before pursuing their laundromat dreams. If an outright purchase isn't on the table, and you're looking at financing options, we also advise that investors have between 25% and 40% of the purchase price in down payment and at least 3 months of operating expenses on hand at the time of purchase. There are variables that go into these equations, including construction abnormalities, finishings, amenities, and municipal-related expenses such as water, sewer tap fees, etc.

PRO TIPThe big money made from a laundromat is on its sales and operational efficiency rather than its investment cost. Remember, your money will be made on sales over time, not the initial investment in the business. Invest smart initially to make money over the entire lifespan of your equipment! Focus on the future return on investment, not your upfront costs.

Cost to Purchase an Existing Laundromat

Investing in an existing laundromat? Our general rule of thumb when it comes to investing in an existing laundromat is that it is worth four to six times the annual net revenue. Of course, the age and condition of the laundry equipment, the location, and any associated real estate leases all come into play here, as does the accuracy of the current businesses' financial record keeping. 

PRO TIPDO NOT purchase an existing laundromat without the help of professionals like the staff from Coin-O-Matic. We will help you sort through fact and fiction. No need to risk the chance of paying too much for a laundromat and then have invested more money to replace outdated laundry equipment and related ancillary items. You also need to pay a whole lot of attention to the real estate lease agreement. Details like this can make or break your success, and a qualified consultant can help.

If you are interested in opening your own coin-operated laundromat, contact Coin-O-Matic's Laundromat Investment Specialists today! If you have more questions about the costs of opening a laundromat, you can also reach us at 1-708-377-3408.

Results for ""

Contact Coin-O-Matic's Leasing Specialists

Servicing customers throughout Illinois, Indiana, Michigan, and Wisconsin. Our Leasing Specialists will custom design a leasing program to fit your needs. Please call (708) 371-9595, visit our...

Read more about "Contact Coin-O-Matic's Leasing Specialists"...

Contact Coin-O-Matic's Payment System Specialists

Servicing customers throughout Illinois, Indiana, Michigan, and Wisconsin. Our Payment System Specialists will greatly increase the revenue in your laundry room or laundromat with the latest payment...

Read more about "Contact Coin-O-Matic's Payment System Specialists"...

5 Reasons to Attend Our Speed Queen Spring Forward 2018 Sale

Spring Forward 2018 Spring is here (sort of…) and the Coin-O-Matic team is gearing up for Speed Queen Spring Forward 2018[coin-o-matic-specials-and-news/spring-forward-2018-speed-queen-spring-sale/]! New and veteran laundry industry...

Read more about "5 Reasons to Attend Our Speed Queen Spring Forward 2018 Sale "...

Revenue Sharing

*We lease multi-housing laundry rooms all throughout Illinois, Indiana, Michigan, and Wisconsin* Coin-O-Matic has been leasing laundry rooms and designing revenue-sharing programs for laundry room operators...

Read more about "Laundry Room Leasing & Revenue Sharing"...

205547P WATER VALVE

VALVE MIXING 4.4GPM 120V, PKG Old number #202395P Through Serial No. 1812016076

Read more about "205547P WATER VALVE"...

70337901P KIT MTR D 120-240/60/1 LOW AMP

Genuine Speed Queen Part #:70337901P Replaces the following Part #: 70185801, 70185801P, 70262101, 70262101P, 70337901

Read more about "70337901P KIT MTR D 120-240/60/1 LOW AMP"...

< Previous 1 ... 33 34 35 36 37 ... 360