Questions on remodeling an existing Laundromat

[JakeRoberts]

My partner and I are looking to purchase an existing laundromat for $40k. Owner is an elderly gentlemen who just wants to get rid of the place. The place is basically a whole in the wall that needs to be totally redone but it is running fine the way it is now and can continue to do so.

The $40k will basically whipe us both out. Until we recoup that initial investment we wont have much money at all.

Until we recoup our initial investment what is some upgrades we can do that can make a difference and cost us as little money as possible? ( We both come from construction backgrounds and both of our fathers are general contractors and own their own construction businesses)

Once we recoup the intital investment what are the steps to take to remodel? As far as equipment goes and everything else?

Our goal is to slowly as money permits, turn the place into a brand new looking laundromat with brand new equipment, open 24-7, unattended, instead of coin we want to go with cards.

[Laundry_Mike]

An existing hole in the wall is the best kind of laundromat to buy. Being that you are a little undercapitalized, but have construction backgrounds, you should start out with remodling the facility. (Paint, drywall, folding tables, carts, lighting, floor, ect) Detail clean all equipment, and make certain that everything is functioning as it should. These are all inexpensive things that your current customer base will immediatly notice. Hopefully your improvements will generate some more business, and that later on, you will have the cash flow to finance new equipment. While card systems do have their advantages, I don't know if it would be advisable to use them in an unattended venue. I would focus on one thing at a time - and don't quit your day job. /ubbthreads/images/graemlins/laugh.gif

[Duane]

Mike,

I use Card Concepts (CCI) card system in an unattended store and it works great. Just the fact alone of not having money throughout the store is a plus for an unattended store. I have everything from the soda, soap and snack machines along with the air hockey and pool tables on the card system. I even have the card system on the bathroom door! I am looking to put in some megatouch games and a couple of data ports all on the card system. I even have a box set up so the customers will be able to change the TV channels (3 TVs all controlled via digital cable box).

I can dial in and see how much business has been done and along with the video system, I can determine when to go in and pick up the place.

Wouldn't have it any other way.

Duane.

www.LMARIES.com (http://www.LMARIES.com)