Do Your Homework!
Many a man has been driven to ruin thinking opening a laundromat was an easy "gold mine". It simply is no such thing.
You need to know what it costs to run this laundromat, verus what locals will pay. In particular what will be your fixed costs: water, sewer, electric, gas, etc.... Does your local require commercial laundries to pay for incoming water and outgoing (sewage), if so how is it caculated.
What and who is your potential customer base? Is there room for growth? Can you price to get where you need to make your monthly nut and a profit?
Who is your competition? It may not always be the obvious, and that can come back to bite you in the rear. What are you going to do differently to both keep the existing customer base happy, plus draw in new clients?
Remember if you attract a large drop off and or collect and deliver service, that may tie up your machines at the same time laundromat customers want the machines. This happens allot at our local, and nothing ticks persons off more than having to wait for endless machines tagged with drop off laundry.
Both the Coin-Op Laundry Association and Experian sell demographic information (at a price, IIRC) you need for marketing/research purposes. You tell them the parameters
and they pull the information.
In NYC, drop off service bets laundromat. The man who runs our local always tells me that the business is about 75% drop off. Then again this is NYC where persons are busy and lead hectic lives, so most would rather have someone else deal with the Wash. Being as this may collect and deliver laundry service is picking up as a service across the United States.
This is all off the top of my head, and you doubtless will receive much better information from others in the business. However one more thing: if at all possible either obtain a very long lease or better still, try to own the building. Countelss horror stories abound about laundromat owners being chucked out of their business when the lease is up, and having to leave all their equipment behind. Only to have the building owner open up a "new" laundromat with said owner's equipment (and customers). The thing has to do with clauses in a lease about anything attached to the building belonging to the landlord. Well dryers and commercial laundromat washers are bolted into the floors, well they are unless one chooses soft mount machines.
Many a man has been driven to ruin thinking opening a laundromat was an easy "gold mine". It simply is no such thing.
You need to know what it costs to run this laundromat, verus what locals will pay. In particular what will be your fixed costs: water, sewer, electric, gas, etc.... Does your local require commercial laundries to pay for incoming water and outgoing (sewage), if so how is it caculated.
What and who is your potential customer base? Is there room for growth? Can you price to get where you need to make your monthly nut and a profit?
Who is your competition? It may not always be the obvious, and that can come back to bite you in the rear. What are you going to do differently to both keep the existing customer base happy, plus draw in new clients?
Remember if you attract a large drop off and or collect and deliver service, that may tie up your machines at the same time laundromat customers want the machines. This happens allot at our local, and nothing ticks persons off more than having to wait for endless machines tagged with drop off laundry.
Both the Coin-Op Laundry Association and Experian sell demographic information (at a price, IIRC) you need for marketing/research purposes. You tell them the parameters
and they pull the information.
In NYC, drop off service bets laundromat. The man who runs our local always tells me that the business is about 75% drop off. Then again this is NYC where persons are busy and lead hectic lives, so most would rather have someone else deal with the Wash. Being as this may collect and deliver laundry service is picking up as a service across the United States.
This is all off the top of my head, and you doubtless will receive much better information from others in the business. However one more thing: if at all possible either obtain a very long lease or better still, try to own the building. Countelss horror stories abound about laundromat owners being chucked out of their business when the lease is up, and having to leave all their equipment behind. Only to have the building owner open up a "new" laundromat with said owner's equipment (and customers). The thing has to do with clauses in a lease about anything attached to the building belonging to the landlord. Well dryers and commercial laundromat washers are bolted into the floors, well they are unless one chooses soft mount machines.