Asked by: Larisa Furic
home and garden home appliances

Is a laundromat a good investment?

Last Updated: 9th May, 2020

The high rate of success, excellent ROI, flexibility, scalability, and easy-to-manage cash flow make laundromats a smart choice for new and experienced small business investors.

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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.

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Are laundromats a dying business?

The Laundromat business is not sick or dying, it is just growing up and becoming mature. The entrepreneurial spirit of owners will carry on in future generations and result in new and perhaps more creative ways to make money in our vended laundry business. Here is an article from 2017 from The Atlantic.

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Are laundromats sanitary?

Laundromats are public laundries that are used by many people who do not have a washer and dryer in their living space. Many of these laundries are maintained well and are fully sanitary. However, not all laundromats are maintained properly and may in fact be very unsanitary.

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How do I start a successful Laundromat?

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What kind of business can I start with 10000?

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How much does it take to start a business?

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Why do laundromats fail?

Neglecting or mismanaging your business
Bad management is the top reason why many laundromats eventually fail. All too often, a person will purchase a laundromat with the idea that as long as they collect their earnings every week or two, the business will continue running.

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How much does it cost to do a load of laundry at a laundromat?

Average costs to wash a load of laundry range from $1.50 to $4.00, with the national average hovering right around $2.00 (source). The cost of drying a load of laundry is very similar, though it typically depends on the amount of time it takes for the clothes to dry.

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Do car washes make money?

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How do you evaluate a laundromat business?

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What you need to know about owning a laundromat?

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What do you do at a laundromat?

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How many laundromats are there in the US?

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How much is a commercial washing machine?

The price of commercial washing and drying equipment ranges from $150,000 to $450,000, depending on the sophistication of the equipment and the size of your laundromat.

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Where can I buy coins for laundry?

Most laundromats have change machines that can exchange a $1, $5 or $10 bill for quarters. If your laundromat does not, go to a different laundromat. Arcades at the mall also have change machines. Any grocery store, pharmacy or gas station can exchange a bill for quarters.

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What is fluff and fold?

Others allow customers to drop off clothing to be washed, dried, and folded. This is often referred to as fluff & fold, wash-n-fold, drop off, bachelor bundles, a service wash or full-service wash. These services provide the end user with washing, drying, and folding services on a per pound basis.