Laundromat Resource › Forums › Financing › Financing Options in Australia

last updated by Tyrin 1 year, 6 months ago
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    • September 21, 2021 at 5:46 am #6934
      Tyrin
      Participant

        Hi Community,

        I am based in Australia and I would like to buy or build my first laundromat.

        Has anyone got experience with obtaining finance in Australia to buy or build a new laundromat?

        Thank you

        Cheers,
        Tyrin

      • October 4, 2021 at 4:22 pm #7068
        Archie Lord
        Participant

          Hi Tyrin,

          I don’t as of yet but I am about to start putting my feelers out and see what is out there. I will let you know what I end up finding out over the coming weeks.

          I would also be interested to hear what you may have found on your journey thus far.

          • October 7, 2021 at 3:24 am #7097
            Tyrin
            Participant

              Hi Archie,

              The best that I have so far is that one equipment distributor will lease the equipment, which will help with the initial up front capital for starting a new laundry.

              I’m still in the early stages of research. My next step is develop a business plan and see if I can get a loan for a portion of my laundry start-up or purchase.

              As I learn more, I will be happy to share.

          • November 3, 2021 at 12:43 am #12987
            Archie Lord
            Participant

              Hi Tyrin,

              I have secured some initial pre-approval through a finance broker who specialises in equipment.

              Process was very easy. The rate is pretty high but there is no deposit, no balloon payment and will finance 100% of equipment.

              How have you gone with your searches?

            • November 9, 2021 at 3:16 pm #13123
              John MacLean
              Participant

                I’m also in Australia and looking around at starting my first laundromat. I’m very early in the process, though, and am still seeing if the industry is for me or not.

                Tyrin, I had a meeting yesterday with potentially the same company you have in the past regarding leasing the equipment. I’m still in the process of investigating and will see how it all turns out.

              • January 12, 2022 at 8:58 pm #14245
                Minh
                Participant

                  Anybody have any idea how I can finance the purchase of an existing laundromat through a lender? Most laundromats their income is severely under reported.

                • May 25, 2022 at 2:58 am #15808
                  Tyrin
                  Participant

                    Hi Archie,

                    Sorry for the very late reply. I am glad you managed to secure some funding.

                    I have still been searching, but it has been on and off.

                    Would you mind sharing the company’s name?

                    Best regards
                    Tyrin

                  • May 25, 2022 at 3:00 am #15809
                    Tyrin
                    Participant

                      Hi John,

                      How did your investigation turn out?

                      Best regards
                      Tyrin

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                  Laundromat Resource › Forums › Financing › Financing Options in Australia