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Anyone here own a laundromat? Or do you know anyone who does?

by Ron Douglas
25 replies
I'm thinking about buying a laundromat and letting my brother run it.

It seems to be a solid cash flow business that's relatively low maintenance.

Anyone here own a laundromat? Or do you know anyone who does?
#laundromat
  • Profile picture of the author E. Brian Rose
    Think again about the "relatively low maintenance" part. People will not treat your machines like they would their own. Also, laundromats are notorious for being vandalized. Do some online searches on the pros and cons.
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    • Profile picture of the author nelsencaleb
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      Originally Posted by E. Brian Rose View Post

      Think again about the "relatively low maintenance" part. People will not treat your machines like they would their own. Also, laundromats are notorious for being vandalized. Do some online searches on the pros and cons.
      I have a landry mat in my own. Great condition. Although I do live in a small town. So if you live in a small town, and there isn't a lot of competition go for it! I don't know about the big city though.

      Good luck
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  • Profile picture of the author Matthew Shane Roe
    I am actually friends with the people that own our local laundry mat. They bring in anywhere between $75-$200 a day from it and they barely do any maintence at all with it.

    As for the vandalism part, that don't happen much around here either. Of course my population is like 4000 people...
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  • Profile picture of the author Flipfilter
    Apparently Heidi Fleiss owns a laundromat - random!

    Heidi Fleiss Opens Her Own 'Dirty Laundry' - Heidi Fleiss : People.com
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  • Profile picture of the author petevamp
    Why would you want to own a laundromat in the first place. Unless it is located next to an apartment building you are likely not to get very many people in their. If you want to start a brick and mortar business I say go for a bar. Just about everyone drinks and is looking for a good time. It is low maintenance how ever you will have to purchase a liquor license but other then that it pretty much takes care of its self. Or you could even do a hotdog joint, taco joint, or any other easy to do fast food deal.
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    • Profile picture of the author E. Brian Rose
      Originally Posted by petevamp View Post

      If you want to start a brick and mortar business I say go for a bar. ... taco joint
      Why not a bar with a laundromat in it that sells tacos too?
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    • Profile picture of the author deertrail
      Self Storage might also fit the bill if you're looking for that type of income stream. I don't own one, but I've often thought they'd make a great business.
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    • Profile picture of the author Ron Douglas
      Originally Posted by petevamp View Post

      Why would you want to own a laundromat in the first place. Unless it is located next to an apartment building you are likely not to get very many people in their. If you want to start a brick and mortar business I say go for a bar. Just about everyone drinks and is looking for a good time. It is low maintenance how ever you will have to purchase a liquor license but other then that it pretty much takes care of its self. Or you could even do a hotdog joint, taco joint, or any other easy to do fast food deal.
      I'm planning to buy an established one in a high traffic area. It's a lot less management involved than a bar although I may open one of those too. I'm sitting on cash and trying to diversify.
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    • Profile picture of the author Flipfilter
      Originally Posted by petevamp View Post

      If you want to start a brick and mortar business I say go for a bar. Or you could even do a hotdog joint, taco joint, or any other easy to do fast food deal.
      A bar ..low maintence.. really?

      This adds to my growing list of reasons to move to the states

      In the UK, you start a bar IF you already have money (as opposed to wanting to make some) and you're very comfortable with the idea of

      1) Losing it (since the recession begin at least)
      2) Late night phone calls when your manager is ill, Licensing shows up at your door, the brewery havent delivered, the fire department / police are there asking for the owner etc etc

      I have an established bricks and mortar business here in the UK, but after five years I'm dying to get back online having left it in 2005 for what I believed to be a less stressful life...was I wrong!!

      @Ron - You seem to have done incredible with the book - nice job!

      Justin
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    • Profile picture of the author Cash37
      Originally Posted by petevamp View Post

      Why would you want to own a laundromat in the first place. Unless it is located next to an apartment building you are likely not to get very many people in their. If you want to start a brick and mortar business I say go for a bar. Just about everyone drinks and is looking for a good time. It is low maintenance how ever you will have to purchase a liquor license but other then that it pretty much takes care of its self. Or you could even do a hotdog joint, taco joint, or any other easy to do fast food deal.
      Wow that is such an ignorant statement.
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  • Profile picture of the author Olga_Tarkhan
    The best laundromat I've ever seen is (or at least was 3 monthes ago) located in the nicest Swiss Alps health spa Leukerbad. Calm, clean, only 3 or 4 machines, AND COMBINED WITH AN INTERNET CAFE!!! Just think of the possibilities...
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    • Profile picture of the author Kay King
      Ron -

      From what I've been told by those who own them - these are cash cows. The fancier ones with 24/7 attendants to give change are convenient but more work due to keeping help and potential of robbery in some areas.

      I know a man here who has two laundromats located close to two gas stations he owns - change is accessible at the station and the laundromats are opened at 6 am and closed at 9 pm. These have been going for years and they are high profit. The owner told me "these do purty damn well for me".

      His most expensive equipment are the front loading machines for big items or big loads. They require the most maintenance but even so are cash cows according to him. I go to one of his laundromats to wash king size comforters that won't fit in my washer - and it costs about $10 to wash each one. (but $25 to use a dry cleaner).

      kay
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      • Profile picture of the author Ron Douglas
        Originally Posted by Kay King View Post

        Ron -

        From what I've been told by those who own them - these are cash cows. The fancier ones with 24/7 attendants to give change are convenient but more work due to keeping help and potential of robbery in some areas.

        I know a many here who has two laundromats located close to two gas stations he owns - change is accessible at the station and the laundromats are opened at 6 am and closed at 9 pm. These have been going for years and they are high profit. The owner told me "these do purty damn well for me".

        kay
        Yes, Kay - that's what I've heard also.

        My other thought is I could buy one that has a back office and use it to run my Internet business as well. If I'm paying rent for the space anyway, might as well maximize it's use.

        What do you think about this instead of getting a traditional office space?

        My kids are both going to be in school soon and it's time to see what it's like outside of the home office for a change. Maybe I'll be even more productive. I can always revert back if I don't like it.
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        • Profile picture of the author Ken Strong
          I always figured laundromats must be one of the most capital-intensive businesses around. Besides paying for all those industrial-strength machines, the utility bills must be pretty high, considering all the water used, and gas or electricity to heat the water and power the dryers.

          Then again, it's an evergreen business, and should be recession-proof -- in fact, if anything business might go up during a recession as some people downsize and no longer have their own washers for whatever reason.

          There was a very cool place here for a few years -- combination laundromat, bar/cafe, and live music performance space at night.
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        • Profile picture of the author Rob Howard
          Originally Posted by Ron Douglas View Post

          What do you think about this instead of getting a traditional office space?

          My kids are both going to be in school soon and it's time to see what it's like outside of the home office for a change. Maybe I'll be even more productive. I can always revert back if I don't like it.
          Ron, you reminded me to ask the forum something...

          I find this interesting, I figured you would already have an office outside the home.

          I just got one myself, signing the papers today. Hopefully it will make a difference in my productivity.

          Rob
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          • Profile picture of the author Ron Douglas
            Originally Posted by ccmusicman View Post

            Ron, you reminded me to ask the forum something...

            I find this interesting, I figured you would already have an office outside the home.

            I just got one myself, signing the papers today. Hopefully it will make a difference in my productivity.

            Rob
            Hey Rob, congrats - I hope it works out well for you.

            My kids are 6 and 3 and I like being home with them as much as possible. The youngest will be starting school full time in a year or two, which is why I'm exploring my options.

            I have three good friends who had offices outside the home but then reverted back to a home office. I think I want to try something different, which is why the laundromat office idea is appealing.
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            • Profile picture of the author Kay King
              My other thought is I could buy one that has a back office and use it to run my Internet business as well. If I'm paying rent for the space anyway, might as well maximize it's use.

              What do you think about this instead of getting a traditional office space?
              Not a bad idea but you'll need to install sound proofing and a good cooling system in it.

              Could work well if you have a buzzer that can be used to summon "help" from the laundromat. A change machine would be more secure when it's known someone is on premises, too - and the change machine would keep interruptions to your work at a minimum.

              The long life of washers and dryers is probably the reason these are so profitable. If you find you have breakdowns regularly, find a decent handyman and put him on a small retainer monthly to have quick response for mechanical problems.

              kay
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  • Profile picture of the author petelta
    Hey Ron,

    My uncle has owned a laundromat since I was a little kid. Once I started doing business consulting, he was one of the first I came to offer my services for a test run. I've kept an eye on it ever since.

    From what I've seen laundromats are a great investment. Especially if you are in safer areas where the vandalism issue and theft issue would be minimal.

    Something that I did with my uncle's business that just killed it was putting a coin car wash right next to the laundromat. While their clothes are drying/washing, they wash and clean their cars. He is in sunny Florida so this probably helps somewhat too.

    Travis
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  • Profile picture of the author theory expert
    Banned
    I looked into this business as well. I had some great articles bookmarked but I cant seem to find them. If I run across them I will add them to this thread. In the meantime I took the liberty of googling and I think this is one of the articles I had in my archives. I hope this article helps you decide if you really think it is worth it to open a laundry up. It sure opened my eyes a bit.

    How to Start a Coin-Operated Laundry
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  • Profile picture of the author eflo
    Once you get one, you're totally going to do a bunch of Offline CPA offers there for people to enter while they're waiting right? Right???
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  • Profile picture of the author Silas Hart
    Originally Posted by Ron Douglas View Post

    I'm thinking about buying a laundromat and letting my brother run it.

    It seems to be a solid cash flow business that's relatively low maintenance.

    Anyone here own a laundromat? Or do you know anyone who does?
    I own one! *raises hand high* If you live near SE Iowa, contact me to come check it out.

    Where to start...

    No, not all of them are cash cows. A lot of my income comes from vending, and the fact that I'm open 24 hours, and no other places are.

    If you have any questions, feel free to ask.

    Consider starting one from scratch. Why does the owner want to sell an already established business? That's a big question, because very very few people would. They are easy to pass down to children or grandchildren.

    Trust me, not all of the marketing knowledge and skill in the world would save some of the laundromats I've seen.
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    • Profile picture of the author mcmahanusa
      Laundromat - in the right area, a good idea. Start from scratch, absolutely a good idea. Fewer maintenance hassles, and you know precisely what you have.

      Bar/laundromat combination? Seen it a number of times, some successful, some not so much.

      Primary rule? No washing of dirty money, as there are strict laws regarding money laundering.
      (somebody had to say it, right?)
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