ForumsStarting a Business

If you are going to open a laundromat in a new location you need to price the following:

Location
Plumbing re-do
Number of washers
Number of dryers
Tables and baskets
Machines that dispense laundry soaps

The plumbing re-do alone could cost tens of thousands.

You may first want to look at existing laundromats that are for sale. You will need to have an accountant take a look at the books..keeping in mind that a laundromat is mostly a cash business. You will also need a skilled mechanic to come in and look at the existing equipment. Be sure that the owner can prove the age of the washers and dryers. Ask about machines that may still be under mfg warranties.

Also, before you start making offers on existing establishments, make a list of potentials and then visit, especially on Friday evenings and Saturdays to get an idea of the customer traffic. You can just sit and watch and maybe make notes on how many washers and dryers each customer uses.

thank you for your suggestions. Where can I get the funds to buy a laundromat. Should I go to my local bank? I'm just afraid I won't meet the requirements. Is there other ways to get cash fast?