Buying a laundromat...well sort of.

[Pbuckler]

I have glassfront drink machines in some sorority houses and one of them is getting out of their laundry contract due to poor service. I'm seriously considering taking it over. There are 50 college age women in the house. Currently there are 4 Speed Queen washers and dryers. I have made a call to my local Maytag sales/service company for pricing. The current vendor pays a small % back to the house for utilities.

My question is what advice do you all have? If I went in there I would probably go with 4 washersand dryers and add a laundry table and a change machine since I already have a drink machine there

[BluePlate]

Sounds like a good opportunity.  They need clean laundry, right?  I would assume the downfalls are they are not there 4 months out of the year.  So the dorms turn into a hostel during the off months?  One of the things I understand about laundry is the repair aspect.  I think you need to learn to do at least basic repairs.

Do you have opportunity for other items in the area?  Snacks?  Maybe even an ATM  (give me a call  )  College kids are great for ATMs

[Bocephus]

Sounds like a great opportunity

[Greatdane]

You will have to learn some basic repairs or you will go broke having a service person repairing the most basic problems like no drain after wash. Those machines are work horses and very easy to repair if you have a little basic electricity and mechanical knowledge. My dad had Whirlpool belt drive coin machines and I turned into the expert water pump, wig-wag and belt repair expert. The tech/repair manual was only 80 pages long. and easy reading. Would have been nice having the internet back then. Better than technical micro fiche in order to order repair parts.