Successful small business owners find a market for the products or services they offer. The benefit of starting a coin-operated laundry business is that a need for the service probably already exists in your location. Here are some decisions you must make when you want to own a laundromat.
Requirements of Service
Starting a small business involves startup costs, and a laundromat is no exception. Of course, you will need laundry machines for business. The number of machines you need depends on whether you purchase an existing business or start from scratch. You may also need money to get the necessary operation licenses, washer/dryer hookup fees, utilities, rent, and supplies, if applicable.
Type of Service
Many owners opt to leave their laundry businesses unattended for a large portion of business hours. They may come in and clean, refill vending machines or check on machines that need maintenance, but for the most part, customers take care of themselves. This allows you free time, which is an uncommon luxury for new business owners. If you want to offer a wash-and-fold service in addition to the availability of self-serve machines, you may have to work longer hours or hire staff.
Hours of Service
Many laundromats are open daily from 6:00 in the morning until 10:00 at night. If you have a clientele that needs more flexible hours, you may consider keeping it open longer or making it a 24-hour operation. For example, college towns often have a large number of students who keep late hours and may benefit from being able to do laundry while studying at night. The more you know about your location and the people it serves, the better you are able to make good choices regarding business hours.
If you balance your startup costs with reasonable, informed expectations, you should be able to make a profit with a new laundry business. Such a business fulfills a common need in most areas.