MrEen Posted September 9, 2009 Share Posted September 9, 2009 I never thought about this until a local ad came up that piqued my interest. I'll do a search here, but I'm pretty sure there's been nothing since I joined in April on this subject. Just wanted to hear any thoughts from those that have been doing it while I continue researching the idea. Thanks in advance for any input. Scott Link to comment Share on other sites More sharing options...
mxer518 Posted September 9, 2009 Share Posted September 9, 2009 I do not personally do it but a good friend of mine does, I work for him for a few years while in college. I think he owns somewhere around 25 with about 30 washers and 30 dryers in each. What kills me is he is doing no vending at all in any of the facilities and he wont budge a bit on it, I keep bugging him to let me install coke machines in all of his properties. Link to comment Share on other sites More sharing options...
sherlock Posted September 9, 2009 Share Posted September 9, 2009 I do not personally do it but a good friend of mine does, I work for him for a few years while in college. I think he owns somewhere around 25 with about 30 washers and 30 dryers in each. What kills me is he is doing no vending at all in any of the facilities and he wont budge a bit on it, I keep bugging him to let me install coke machines in all of his properties. That's a shame about not budging on the vending. Those laundry facilities get HOT in there, what with all the dryers going and all. That would drive lots of folks to your soda machine I'm sure. I looked into running laundry-mats a few years ago. I got turned off by all the red tape with my city because of water usage restrictions. The machines weren't even the biggest expense. The build-out of the facility was what was going to run a small fortune...ok maybe not so small a fortune. If memory serves, I think it was going to cost upward of $300k to get it started. If you are inclined to start a laundry mat, my suggestion would be to buy one already in business rather than starting up a new one. Link to comment Share on other sites More sharing options...
mxer518 Posted September 9, 2009 Share Posted September 9, 2009 Its insane in a lot of cities I have been told as you said with with water usage and disposal. Its a lot like the car wash business, its in most cases not worth the headache. Link to comment Share on other sites More sharing options...
MrEen Posted September 9, 2009 Author Share Posted September 9, 2009 If you are inclined to start a laundry mat, my suggestion would be to buy one already in business rather than starting up a new one. And that's why I started this thread. There's a local deal available for $50,000. 33 washers, 20 dryers, 2000sqft, office with cctv, restroom, janitor closet, and room for another small business within this one. The deal sounds amazing to me. Could location be the problem? This is in a more expensive part of town. Do laundromats do best in less expensive neighborhoods? Scott Link to comment Share on other sites More sharing options...
mxer518 Posted September 9, 2009 Share Posted September 9, 2009 I was told by my friends that owns them that they do best in the areas you are most scared to go to. The rougher the part of town the better you can expect them to do, I don't miss servicing them in the rough areas, we had a guy with a carry concealed permit go with us. Link to comment Share on other sites More sharing options...
antoniocinisi Posted September 9, 2009 Share Posted September 9, 2009 I have never seen a laundrymat without a soda machine in it.I had a rack in one and it did great,I still have a rack in another and it does so so.I wouldn`t put brand new machines in one either,they will recieve lots of abuse. Link to comment Share on other sites More sharing options...
MrEen Posted September 9, 2009 Author Share Posted September 9, 2009 Yeah, I was kind of expecting that to be the case. I'm still going to research some more. I'll research a CCP for my state as well! Scott Link to comment Share on other sites More sharing options...
nosebreaker Posted September 10, 2009 Share Posted September 10, 2009 I just bought a laundromat, I'm putting a combo machine in mine in a week or two (there isn't one there now). I also put in an old arcade game just for the heck of it. I figure it will do well, but I don't know how well. FYI - to value a mat you use 3x yearly net profit to determine the purchase price. Check coinwash.com - they have a great post about things to look for when buying a mat. Link to comment Share on other sites More sharing options...
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