Reply To: How much does a laundromat even cost?

[Sherrie Myers]

Hi CKH, In my research figure a Laundry will cost between 200K on the low side and 1 Million on the high side.
You basically have these considerations.
(1) physical location
Existing laundry building with the infrastructure – or build a laundry ( building and/or infrastructure).
Buy commercial property or lease commercial property.
Less expensive is an leasing a existing laundry.
(2) The Business
The laundry “business” is the current customer base, never the projected customer base or the possible customer base. Is there an existing customer base? Who, what, where and how much money does that customer base bring to the laundry now? The value of that customer base is the “business” you will buy.
Least expensive is a closed laundry, you are not buying the “business.” No money for no customer base. But you need to do your research, why is it closed? Can you recapture a customer base?
(3) Equipment
Then you have equipment – Is the equipment working?, How old is it? How much does it cost to keep it running – or are you going to have to replace everything?
How much does a Laundromat Cost?
If you get a “FREE” Laundry that means there is NO customer base, and most likely no equipment or equipment that needs a complete replacement ” complete re-tool” and significant TI (tenant improvement). You will also
still either need to buy the building or negotiate a lease. That is not FREE
Then there is the cost of repair or replacement of equipment and TI also not FREE.
The least expensive entry into a Laundry would be
A currently opened laundry that is not well run, but has a reasonable customer base and equipment that is not past it’s functional life expectancy and a reasonable amount of time on a lease. You are sure you can take this underperforming business and turn it around. Are you sure??? Each situation takes careful evaluation that is why the cost varies so much.
Good Luck
Sherrie Myers