Laundromat Resource Forums Laundromats AMA Reply To: AMA

Ronald Morris

    Hey Bryan thanks for responding!

    How much time do you plan on spending at your laundromat?
    I plan on working there near full time for the first 6 months or so. I want to learn every aspect of running the business boot on the ground. I will then go part time and train an attendant to work a few days a week.

    What will your break even point be?
    We will be profitable from day one of buying the business. If all the machines weren’t 15+ years old and we kept things as is, we would reach profitability after about 4 years. My math says it will take about 3.5 years but there will be growing pains and I learn the hard way.

    What is your projected ROI?
    Depending on financing were thinking between 18 and 24%. The biggest factor is whether we can get 100% financing on the new equipment.

    What services do you plan to offer?
    Currently there are no services offered beside the laundromat. There are high end apartments all around I plan on offering a pickup and drop off service. There are also plenty of hotels in town without many laundromats. We will also offer drop off and pick up to them for linens.