Generally, we advise business owners to budget for at least $200-$300+ per square foot for laundry equipment, amenities, and the buildout of an existing vanilla box. Typical laundromats range from 2,000 to over 5,000 square feet, costing $400,000 to over $1,000,000 all in.
On average it costs $200,000 to $500,000 to launch a mid-size laundromat – and that's one without all the bells and whistles, such as pay-by-card machines, wash/dry/fold/press services, vending machines and TV facilities to keep your customers entertained.
Answer: Monthly profits can vary widely based on the location, size, and operational efficiency of the laundromat. On average, smaller laundromats might earn between $1,500 to $5,000 in profit per month, while larger, well-established ones in prime locations might see profits of $10,000 to $30,000 or more per month.
The cost of equipment required to start a laundromat varies from around $20K to as much as $500K or more. Initial startup costs can be quite significant for a seemingly 'set-and-forget' kind of operation. However, the lack of required labor once a startup is complete can outweigh the cost of starting a laundromat.
On average, the laundromat cost per load can range from $2 to $4, while drying typically costs between $1 and $2 per load. So, all things considered, how much does it cost to do laundry at a laundromat? You can expect to spend around $3 to $6 per load for a complete wash and dry cycle.
Generally, we advise business owners to budget for at least $200-$300+ per square foot for laundry equipment, amenities, and the buildout of an existing vanilla box. Typical laundromats range from 2,000 to over 5,000 square feet, costing $400,000 to over $1,000,000 all in.
To give you an idea of how much a typical load weighs, the following items all together weigh about 10 pounds: Seven pairs/sets of underwear. Seven pairs of socks. Five short-sleeve T-shirts.
While not legally required, there's a compelling case for starting your laundromat as a limited liability company (LLC).
Understanding laundromat value
U.S. Laundromats post impressive numbers with a 95% average success rate and 20 - 35% profit margins. But whether or not your laundromat can meet (or exceed) these industry standards depends on some important factors.
On a typical scale, launching a laundromat will set you back anywhere from $200,000 to $500,000. Your financial footprint hinges on whether you're breathing new life into an existing establishment or embarking on a ground-up venture, coupled with the prevailing real estate climate in your locale.
Running a Laundromat is simple, but creating or maintaining a successful laundromat takes hard work. An owner does not need to be in the laundromat every day, but they must understand their customers, equipment and competition. For coin stores, this will generally take place twice weekly.
SBA Loan for Laundromat
The SBA is a government organization that offers specific programs for loans considered higher risk, like laundromat businesses. They are based on the value of your overall collateral, which could be the equipment required for your business as well as real estate property you own.
Building a New Laundromat
You'll save money over the first few years of operating your new business because the new laundry equipment comes with warranties and is in good working order. PRO: It's all yours.
Sure, laundromats are a great investment option for entrepreneurs who want to break into a recession-proof industry with 20-30% profit margins and passive income opportunities; but it's also an opportunity to join a historical mission to make the lives of Americans easier and keep clean clothes on the backs of millions ...
A great laundromat location is on a main roadway, highly visible, and has plenty of parking with easy access. Also take note of the surrounding businesses and what type of clientele they draw in. Grocery, convenience, auto parts, and check cashing stores make excellent neighbors for laundromats.
A coin-operated laundromat can be a profitable business, but there's also a high risk of it attracting thieves. You'll also need to keep cash on hand to provide customers with change for the washers and dryers.
On average, prices range from $1.45 – $2.95 per pound of laundry, with some premium services charging upwards of $5 per pound. In urban areas and cities with a higher cost of living, such as New York City, San Francisco, and Los Angeles, prices tend to be on the higher end of the spectrum.
Final Verdict. The Black+Decker BPWM09W Portable Washing Machine is the best portable washing machine, with a ton of great features to streamline your laundry routine, a relatively large capacity, and a fast spin cycle that helps dry out your clothes.
Medium/Regular load: If you're washing on a medium load, then your load could be made up of approximately: 6 men's t-shirts, a pair of socks, 2 skirts, 1 women's sweater, 1 men's sweater, 3 pairs of pants, 3 pairs of underwear.