Asked by: Larisa Furichome and garden home appliances
Is a laundromat a good investment?
Last Updated: 9th May, 2020
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Similarly, you may ask, how profitable is owning a laundromat?
According to the Coin Laundry Association, the cash flow of laundromats is typically in the range of $15,000 and $300,000 per year. To maximize your business's profitability, carefully consider the aspects above and create a smart business model. With hard work and prudent planning, you're sure to find success.
Beside above, how much does it cost to invest in a laundromat? Finally, you also need to consider that getting into the laundry business requires a large initial investment. The average-size laundromat could cost you in the neighborhood of $200,000 to $500,000 -- whether you choose to purchase an existing laundry or build one in a retail space.
Considering this, are laundromats still a good investment?
A laundromat can be one of the wisest business investments, with due diligence on the part of the investor and a few upgrades, a laundromat storefront can become and continue to be a profitable investment for years to come.
How much does a laundromat make a month?
All of these things will impact your profits. On average, laundromat owners report $5,000 to $7,000 of profit each month.