I want to open a Launromat

[irishwashguy]

I am taking steps to open a Laundromat. Is there anyone here that has done it that can give me some advce about it. I want to call it " Aunt Betty's Spin Cycle Laundomat & Eco Cleaners" . I found a busy corner where there once was a laundomat. In Sept it was busy, as well as up and running. The space after over 40 years in empty and waiting to be one again. What do you think?

 

[SactoTeddyBear]

Your Laundromat:

Hey! Richie, I'm curious to know which area that you live in, of Portland, Oregon and where the Laundromat would be located? The reason for my inquiry is because my Brother, Sister-In-Law and Families live in the South/East part of Portland, off of Woodstock at the 42nd Block, approx 2-Blocks from Woodstock, near the Safeway and Biz-Mart on Woodstock.

Thank you, it would be great to get to check out your Laundromat sometime later on, whenever I will be able to get up that way again, to visit my Brother and Families there.

Peace and Kind Regards, Steve
SactoTeddyBear0503...

 

[irishwashguy]

Thank you

Well, I am taking this slowly. I already do a pick up and fold service out of the basement at the moment, so I already have some business going. I have a couple of places picked out, one in Vanouver, Washington, which is very close to here, 20 min by car,the other on Belmont, both of which would nake great choices. The location in Vancouver is alot smaller than the one in Portland, as well as the price difference in doing business in Washington vs Oregon. Water in Portland is going to double in the next three years, that is also a consideration. I am hoping to gain some wisdom from those people that have ran and or owned one. I am learning more everyday.

 

[peterh770]

I own 2 laundromats. Email me: [email protected]

How long has the space been empty? Do you know specifically how many washers were there? Any idea of the square footage? Is the parking up against the building?

 

[irishwashguy]

I will e-mail you

I believe that it has been empty for a very short time. I went there and used it back in September. then one day it was gone.

 

[iheartmaytag]

I want to open a Launromat

That has always been my dream too.

Think about it. You rarely see a Laundromat close down. They are almost always busy. If the economy is down, your business is up even more because when people's machines break they can't afford to fix them.

The only other "recession resistant" business I studied is a Liquor Store. I wouldn't to run one of those, to easy to be a stop and rob.

 

[laundromat]

Speed Queen or Wascomat?

I would recomend that you get all front loading units in different sizes. The Speed Queens are my first choice and Wascomats my second. Speed Queens come with a full 3 year parts and labor warranty.They also have stainless steel inside as well as outside tubs.They are available in capacities up to 100 pounds dry weight.There was a big laundromat I went to in Texas that had one of the 100 pound units and allowed me to thoroughly wash a 9X12 area rug with ease.The reason I don't recomend top loaders is that 90% of the users overload them and use way too much detergent.They're water hogs and not as economical as the front loaders.Good luck!

 

[danmantn]

Speed Queen offers some excellent information on it's commercial site for potential owners. And there are several videos on YouTube talking about the subject. I, too, would like to own one...a nice one like is near my house. I would imagine between $40,000 - $100,000 startup. Whew!

Has anyone out there owned, or owns one? Advice, suggestions, warnings? I've thought of asking this question on here many times, hope there are some owners out there. I have a full time job, but would love to have a small, side laundromat.

 

[peterh770]

It is always better to buy an existing store than start from scratch. Just the city/county costs can prohibit you: impact fees, sewer tap, water lines and meter, gas lines and meter. Always start with your municipal utility providers to see what it will cost to start from scratch.

An existing store already has these paid -- it is a one time fee. An existing store, you are buying the income stream, usually a multiplier of the yearly net income.

If you are very lucky, you find a dead store and all the landlord wants is you to come in, open it up and pay the rent. Lots of downfalls there, though. Why did the store close? It may not be worth reopening.

You need lots of capital to start. There will be lots of renovations that need to happen besides utility deposits and new equipment.

I own 2 stores and am considering a third. Email me.

 

[peterh770]

BTW

I am a Wasco guy; SQ is last on my list of equipment I would consider.

Let's keep this thread about the business. We can debate equipment separately.

Looks like we need to be bumped to the Super forum. Oh Webmaster...

 

[iheartmaytag]

Not trying to debate equipment, BUT. . .

You used to be able to lease/purchase equipment from SQ. I don't know if other makers have this program as well.

The program that a lady was telling me about. The machines are set for a minimal cost, but the coin slide has a meter on it which is reported to the company. The lease company gets a larger percentage at the beginning of the lease but it is based on usage. Much like a PPT (pay per transaction) program on video rentals.

As the equipment is depreciated the Mat gains more ownership until the end of the term at which time they own the equipment outright, or have the option to install updated equipment and restart the agreement.

There have been three LARGE laundromats open here recently, one of the owner/managers said this is a simular program they are using.

 

[sudsman]

Alliance DOES have their own Lease /Finance Dept

ANd they are VERY nice to work with. And offer very good deals thru them. your can see the application and get a lot of answers on thier website. They also have a lot of brochures and videos they will send you.

 

[peterh770]

And leasing commercial equipment is a horrible idea! At the end of the lease, what do you have? Nothing. And where has that money gone? To the company, not to you. If you have a good 'mat in the right location, you can pay off your equipment purchase financing well under the usual 5 year term. When I purchased 10 stack dryers and 5 50# dryers, I paid that off in 14 months. When I bought 5 new 30# washers, 2 40# washers and 2 55# washers, I paid it off interest free in 11 months. My second store had a 5 year term; paid it off in 3.5 years.

 

[SactoTeddyBear]

Around our general Sacramento, CA area:

They are building more and more Apartments, Condo's and Town Houses now For Rent, that include a Laundry facility, usually in a Closet with Doors to close off the Closet when not in use. This has also shown me in several areas here, of the Laundromat's closing, because they just aren't getting the Business like they used to get.

Peace and Kind Regards, Steve
SactoTeddyBear0503...

 

[alr2903]

IMHO, wait until this new wave of domestic f/l owners, is on their 2nd or 3rd $1000.oo machine. I can hear the coins clanking now. Follow your dream Irishwashguy. alr2903

 

[irishwashguy]

This sounds like

I need to plan really well.If you fail to plan, you plan to fail. I could find one that is already in exsistance. The lady @ the bank was asking me if it already exsisted and what the income was. Since at this moment it is just an old laundomat space, there is no way to tell. When I was there, it was so busy that I had to wait for a washer and or a dryer. The guy that was the owner looked realy tired to me. He was also running a drycleaners as well. He was doing it all by himself. What about if you have an attended laundry? I want to be hands on for the few months it is open. How is the best way? Is there more self service?

 

[whirlcool]

At our local coin op there is always somebody there. I think the place has 4 employees. They offer a wash & fold service which is very popular. You always see employees washing and folding and hanging clothes. They are open 7am-9pm with no new loads after 8pm.

 

[bradross]

Sounds exciting...

Hello there...when you're up and running, I'll come visit!

 

[danmantn]

I would imagine that attended laundries do MUCH better. Interestingly it's one of the reason that I go to the nice Speed Queen laudromat...the lady is as nice as my mom, knows me by name (even though I only come once a month for the King comforter), and has a very home-like environment. Feels like laundromats that I would go to growing up with my aunts...nice people...and the smell of fresh laundry (not stagnant water like some). I'm VERY excited for you and am very interested in how things go. I hope you share your experiences in detail for those of us who are considering a Laundromat as well.

By the way, would you do this full time, or in addition to a full time job? By the way, the lady at the laundromat (with whom I spoke of my desire to open one) said that she received a $10,000 grant/bonus/refund for placing her new front loaders on pedestals to make them more ADA friendly. I have no idea of what the program is...but worth poking around about.

BEST OF LUCK TO YOU!