How To Buy A Laundromat Franchise And Earn Large Profits
- Search For Popular Brands In order to buy a laundromat franchise and earn large profits, you need to find a popular brand. ...
- Find Good Locations After you separate the popular brands from the non-established ones, narrow down your options further by looking for good locations. ...
- Obtain Funding ...
- Acquire People Skills ...
- Purchase Quality Equipment ...
Full Answer
What are the best laundromat franchises?
Here are the best laundromat franchise businesses for aspiring entrepreneurs to consider: 1. Speed Queen Speed Queen has been in the laundry industry since 1908. And they offer a model that’s designed to scale. The laundromats are known for providing an open design, updated tech, and an easy user experience.
Is it still possible to buy a laundromat?
It still can, as long as you keep a few simple tips in mind when looking for the right one to buy. Taking into account the location of your potential laundromat will be perhaps the most important part of the buying process. Think about places where there might be a demand for a laundromat such as:
How much does it cost to open a Speed Queen laundromat?
Speed Queen has been in the laundry industry since 1908. And they offer a model that’s designed to scale. The laundromats are known for providing an open design, updated tech, and an easy user experience. The initial franchise fee is currently $15,000.
What does it take to be a laundromat owner?
Being a laundromat owner takes a strong entrepreneurial mindset. Not only does a laundromat take a lot of maintenance (aside from collecting coins/payment, there is also machine upkeep, and repairs for these machines can sometimes be costly.
How much does it cost to franchise a Maytag laundry?
How much success rate does a laundromat have?
What is Express Laundry Center?
When was the Maytag franchise founded?
How much does a Speed Queen franchise cost?
How much liquid capital do you need to be a Speed Queen franchisee?
Does Wavemax have a laundry service?
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About this website
Is owning a laundromat profitable?
Laundromats in the U.S. see an average cash-on-cash ROI of 20-35% (9)—much higher than most alternative investments. And when you factor the flexibility and low labor costs, laundromats just make sense. All the benefits of a profitable investment––without all the risks.
How much does it cost to franchise a laundromat?
How Much Does it Cost to Open a Laundromat? Franchise fees generally range between $15,000 and $50,000. But the initial startup costs range between $300,000 and $1.5 million, depending on the size and location of the unit. Much of that can be financed.
How much can you make annually owning a laundromat?
With an ROI (return on investment) of between 20-35%, laundromat businesses have a 94.8% success rate, bringing in a gross income anywhere from $30,000 to $1 million a year.
How do I start my own laundromat?
Start a laundromat by following these 10 steps:Plan your Laundromat.Form your Laundromat into a Legal Entity.Register your Laundromat for Taxes.Open a Business Bank Account & Credit Card.Set up Accounting for your Laundromat.Get the Necessary Permits & Licenses for your Laundromat.Get Laundromat Insurance.More items...•
How much profit does a laundromat make a month?
How much does a laundromat make a month? On average, a laundromat nets between $10,000 and $40,000 per month. But again, it boils down to location. In NYC, for example, a laundromat can bring in $50,000 or more per month.
Where are the best places to put a laundromat?
6 Tips On Choosing The Best Laundromat LocationLocation With Lots of Traffic. Look for a location on a busy street. ... Street With A Low Speed Limit. ... Be Visible To Passing Drivers. ... Store With Glass Frontage. ... Plenty Of Available Parking. ... Near Local Anchor Points.
What are the weaknesses of laundry business?
Cons of Owning a LaundromatThings won't always be neat and orderly. No matter how much effort you put into making your laundromat shine, not everyone will treat your space with the same respect.The initial investment can be substantial. ... Utilities can be high. ... Long business hours are recommended. ... Accidents happen.
How much money do you need to invest in a laundromat?
Expect to pay between $200,000-$500,000 to open an average-sized laundromat due to commercial-grade equipment.
How much passive income does a laundromat make?
Was it ever true? And, most importantly, is laundromat ownership a passive investment that you should consider? While not entirely passive, laundromats do provide a high rate of return, usually 20-25%+, for a minimal amount of time investment.
Is it easy to run a laundromat?
Running a laundromat is fairly straightforward – the equipment is easy to maintain, labor costs are low and there's no inventory involved. It's also a reliable source of income, as you can expect a steady stream of customers at any time of the year.
How successfully run a laundromat?
How to Run a Successful LaundromatSupervise the store regularly. ... Inspect the machines. ... Clean the shop and equipment. ... Keep it safe. ... Interact with customers. ... Market your services. ... Collect your earnings.
Best 5 Laundromat Franchise Businesses in USA for 2022
WaveMax. Founded in: 2012 Franchising since: 2016 Franchise units: 27 Initial investment: $234,455 - $999,950 Franchise Fee: $49,950 Royalty Fees: 6% Since 2012 WaveMAX® Laundry based in Jacksonville FL has focused its business model on developing the prototypical market & store that can scale and sustain a national chain of only laundromats.
Laundromats For Sale in the US, 354 Available To Buy Now
354 Laundries Available to Buy Now in the US on BFS, The World's Largest Marketplace for Buying and Selling a Business.
Search For Popular Brands
In order to buy a laundromat franchise and earn large profits, you need to find a popular brand. The most successful franchises in any industry have a well-known name to them. If you purchase an unknown franchise, you will not reap the same benefits as your competitors.
Find Good Locations
After you separate the popular brands from the non-established ones, narrow down your options further by looking for good locations. Think of purchasing a franchise location as you would if you were relocating your business. Take the time to find the best location. The busiest laundromat franchises yield the largest profits.
Obtain Funding
While finding the right location plays a major role in buying the best laundromat franchise, so does funding. You need to obtain the necessary amount of funding to startup a profitable franchise location. Unlike many other types of franchises, laundromats do not require many recurring expenses.
Acquire People Skills
Also, acquiring people skills is a necessity for buying a laundromat franchise. If you plan on playing a role in your storefront on a daily basis, you need to greet customers. Franchise owners usually prefer to sell their franchise locations to business owners with great personalities. After all, they represent the entire brand at their location.
Purchase Quality Equipment
Lastly, purchase quality equipment to successfully buy a laundromat franchise. While top-notch machines cost more, they retain customers. After all, they expedite daily laundromat tasks and produce better results. Consumers appreciate fast service that is also high-end. Avoid purchasing used machines if possible.
What is the most important part of the buying process for a laundromat?
Taking into account the location of your potential laundromat will be perhaps the most important part of the buying process.
When was the first self service laundromat opened?
Bruce Hakutizwi. In 1934 , right in the middle of the Great Depression, the first self-serve laundromat (or washateria, as it’s often known to Texans) opened in Fort Worth, Texas. At the time, many Americans had a difficult time affording food to put on the table, let alone an expensive washing and/or drying machine.
Is owning a laundromat a business?
As such, the need for laundromats on every corner has diminished. However, this doesn’t mean owning a laundromat can’t be a lucrative business venture. It still can, as long as you keep a few simple tips in mind when looking for the right one to buy.
Do Americans own a washer and dryer?
Technology has advanced a great deal since that time, and lifestyles have changed. Many Americans own (or rent) an in-home washer and dryer, or live in a building that supplies them for all residents. As such, the need for laundromats on every corner has diminished.
Is it possible to have Wi-Fi in a laundromat?
As technology continues to advance, it becomes easier to offer certain amenities. Not long ago, offering Wi-Fi in a laundromat would have been considered an incredibly luxurious offering; today, it’s expected , since a large number of businesses choose to offer this service to customers.
Is it enough to offer a place to wash clothes?
These days, it’s not enough to simply offer customers a place to wash their clothes. It’s also valuable to offer amenities such as Wi-Fi, coffee or even a bar - this would, however, take some additional work, as you’d need to secure a license to serve alcohol, and you’d have to be in a location zoned for such a service – but this will provide an additional revenue stream.
Do laundromats have washers?
If you choose a laundromat in one of these types of locations, you will likely have greater success in generating steady revenue than, say, a laundromat in an upscale suburban area, where most people likely own a washer and dryer .
What is Express Laundry Center?
The Express Laundry Center package is a proven and complete turnkey solution for new vended laundries. The Express Laundry Center brand teams highly efficient, high-speed laundry equipment and multiple services with local marketing and management support. It is a complete store solution available to vended laundry investors only through Continental Girbau. The Express Laundry Center offers a complete store solution to investors looking for a proven, self-service laundry brand and concept. The Express Laundry Center brand is free of franchise restrictions, costs and red tape.
Where is Eco Laundry located?
The Eco Laundry Company, headquartered in New York City with a third location in Buenos Aires, Argentina, is the world's first certified B Corporation dry cleaner and laundry service franchise. The company is aligned with 1% for the Planet, a group of businesses dedicated to giving at least one percent of annual net revenue to environmental organizations. In January 2015, the company unveiled targeted franchising opportunities in New York and the tri-state area to expand the business and share its mission with a wider audience.
Is Speed Queen a leader in commercial laundry?
As a leader in commercial laundry, Speed Queen understands the industry from the inside out. While we have been making world-class laundry equipment since 1908, we are much more than a manufacturer. From advanced controls and cloud-based management platforms to laundry-focused financing and hundreds of Speed Queen Laundry stores around the world, Speed Queen technology makes the business of laundry more efficient, accessible and advantageous.
Is the laundromat industry profitable?
The laundromat industry is a very lucrative industry that has been proven time and time again to be successful. Below are some of the key market figures that you may find interesting. Here at Zoom Express Laundry, in order to build on the success of this already lucrative business, we have found a gap in the market and a way to accommodate these customers’ needs in a cost-effective manner. We help each franchisee throughout the process by helping select location, getting in contact with our reputable vendors, and even assistance with promoting the new location.
How Much Does it Cost to Open a Laundromat?
Franchise fees generally range between $15,000 and $50,000. But the initial startup costs range between $300,000 and $1.5 million, depending on the size and location of the unit. Much of that can be financed. Once your business is up and running, you can generally keep costs low. These mostly consist of equipment maintenance and utilities. Though you’ll have some operating costs like accounting and payroll if you plan on hiring part time help.
When did laundromats start?
The first laundromats opened in the 1930s. Since then, these businesses have provided washing machines and dryers operated by coins, cards, or tokens. They’re especially popular in cities, near colleges, and anywhere else where some residents may not have access to laundry in their homes.
What Are the Benefits of a Laundromat Business?
Entrepreneurs get interested in laundromats because of their perennial appeal. While not quite the size opportunity it was 50 years ago, there are plenty of benefits to operating a laundromat, including:
How much does it cost to franchise Zoom Express?
Zoom Express positions itself as a bright, clean laundry facility that garners a ton of repeat customers. They offer a la carte services. So there’s traditional self-service laundry as well as wash and dry service. This requires a bit more staffing but also diversifies revenue. The company boasts a 95 percent success rates for franchises and says cash flow ranges from $15,000 to $300,000 annually. The initial franchise fee is $39,500, with a total upfront investment between $675,000 and $1.5 million.
What is laundrylux?
Laundrylux is another supplier of laundromat equipment, working with multiple top brands. However, they also offer real estate, design, financing, and marketing assistance to those who offer laundry services. The company even provides equipment upgrades and support for existing business owners. Since it’s not a traditional franchise, there is no set fee. But startup costs can range anywhere from $100,000 to $1 million.
How much does a Speed Queen franchise cost?
The laundromats are known for providing an open design, updated tech, and an easy user experience. The initial franchise fee is currently $15,000.
How many Supersuds stores are there?
The company has more than 20 years of expertise. And their 25 stores have a 100 percent success rate. They do not list any franchise fees, as each location and business model comes with different costs. Interested parties can contact the company for a specific quote.
Organic Dry Cleaner In Wealthy Montgomery County
Well established Montgomery County Organic Dry Cleaner located on a main road in a very busy shopping. Full service 2,792 sq ft. plant well equipped with a Fibrimatic 40 lb. Hydrocarbon (ORGANIC)... More details »
Dry Cleaners In Wake County
Located in an upscale shopping center in an affluent area of North Raleigh. in operation since 2005, this store has many repeat customers. Full same day services with plant on premises. Equipment is 6... More details »
Washateria In Queens
This 20 years old laundromat is located in an extremely busy area in Queens County. It has 20 washers and 20 dryers; all are in an excellent condition. The interior is well-maintained and looks great... More details »
Absentee Card Laundromat
Business Description. 2,700 SQ FT with full basement. Inside high traffic, newly renovated strip mall with parking. Strong lease 25-year lease plus an additional (2) 5-year options (no increases)... More details »
Laundry Business In Suffolk County
Well established laundromat with 22 wascomat washers, (5 new) and 34 Huebsch stack dryer (12 new). Located on a busy street in a popular shopping center. Sewers with Lint traps. 1400 sq ft it is an... More details »
Established Laundromat In New York County
As we emerge from the pandemic, this Laundromat has the potential to become very profitable. While self-service kept up most of its strength, wash & fold and dry cleaning came down a lot. When they... More details »
Laundromat In Nassau County
This 20 years old laundromat is situated at a busy strip mall on Long Island. It has 32 dryers and 29 washers; 30 % is drop off. All the machines are in excellent conditions. Seller owns it for 10... More details »
How much does it cost to franchise a Maytag laundry?
The minimum liquid cash required for getting started with this franchise is $75,000. Maytag Commercial Laundry does not charge a franchise fee and is accepting franchisee inquiries in all states. You can head to their website to learn more.
How much success rate does a laundromat have?
When you open your own laundromat, you can expect a 20% to 35% ROI with a 95% success rate. This is largely due to the continuous demand for clean clothes.
What is Express Laundry Center?
Express Laundry Center helps their franchisees gain loyal clientele and consistent revenue with fully equipped laundromats. Their facilities feature high-speed Continental ExpressWash washers, which generate up to 381 G-force extract speeds. In other words, you can finish your laundry faster and get back to your other to-dos.
When was the Maytag franchise founded?
Franchise fee: None. Founded in 1893 by Frederick Maytag, this brand is attracting attention in the multi-billion dollar laundromat industry. Their clean and modern facilities are equipped with heavy-duty washers and dryers that deliver fresh laundry every time.
How much does a Speed Queen franchise cost?
Franchise fee: $30,000. The Speed Queen laundromat was founded by Joe Barlow and John Seelig in 1908. A century of business experience and knowledge has grown the small laundromat into a successful franchise.
How much liquid capital do you need to be a Speed Queen franchisee?
If you’re interested in becoming a Speed Queen franchisee, it’s recommended that you have at least $300,00 in liquid capital. To learn more, complete an inquiry form on their website.
Does Wavemax have a laundry service?
Seeking to shatter this underwhelming stereotype, WaveMAX laundromats are immaculate, well-staffed, and equipped with high-quality commercial washers and dryers. They also offer complimentary WiFi to customers waiting for their laundry to finish.
