Just getting started

[hjackson]

I have been researching all I can about the coin laundry business . My goal is to have my laundry business started by the mid year of 2004. I have read all the books I can find. Can someone please give me some advice on how to actucally open my own laundry business. Anything that will point me in the right direction will be appreciated. I am trying to decised on lacation, new or estabished, financing and association to join pertaing to this business, should I start off small or just go all out big! Please anything will be helpfull. I am very dedicated to accomplishing this goal and long term business for myself and my family. My email address is sasij27@yahoo.com Thanks

[SecretarytoBraveDave]

Research is necessary in market area, location, population, etc as well as the ins and outs of the laundromat industry. Laundry customers are using facilities somewhere in all markets. No one can tell you to go build new, buy used, go big or small without knowledge of the area you are considering. Books can help you along the way, but you must know the area of which you are considering and no book will give you this. You need to sit in the area mats and see who the customers are and how the current competition meets the needs of the clientelle. You need to know what they offer, for how much, you need to know what type of volume the competition does and you will need to calculate the approx revenue for the area you are thinking of invading. If you do not want to do a new store check out the local competition and see if the stores interest you. You will need to be proficient in calculating revenue by water usuage and analyzing the potential of the area. Good Luck!

In addition to checking out this website check out coinwash.com both websites have years of info archived and will be helpful to you as well.

[RWSmith]

I would do all the things suggested by STBD. I would also contact your local distributor ( they are listed in the yellow pages under laundry equipment distributors). CLA is holding four Laundry 101 seminars in various parts of the country in 2004. I would contact them for information.
Buying or builing a coin laundry is a big commitment in time and money.
Take your time and learn as much as possible.
Good-Luck

[clarkvt]

I am in the same boat. I would like start a new coin laundry. It is a small town~~2500 people with a boarding school. The surounding towns do not have any type of facilities either. Where can I determine the quantity and what balance of equipment to get. I would be using a rental property, what are the limits to renting as opposed to owning? Any advice would help.

[SecretarytoBraveDave]

Before either of you guys get your answers you will have to answer some basic qustions. There is no way to determine if an area needs a laundromat without evaluting the current facilities and determining who and how often these people will uses the area facilities. Only you can get the information you need in your area. Go to the mats, call the water departments sit in the competition, find out the size of machines, age and specifics about each mat. Read over the threads here, and in your books. It will teach you how to access a mat. You will answer your own questions, but may require a little help along the way. Good luck

[hjackson]

I have done all of that I have been sitting in various mats within 30 mile radius. I am in Northern Va, And in my own neighborhood there are 2 one is ancient and the other is brand new it has been open for about 3 month. it is nice but very small. I have surveyed some of the location i am looking to set up shop. I am focus on area that have high rise apartments, tralier parks, condo's, and townhomes. I live in an area that is highly populated, constant traffic and about 6 grocery stores on one street. Wal-mart, home depot and it is right of the 95 highway. there is mostly townhomes and condos and apartment, 3 to 5 trailer parks. Back to my prime location it is in a strip mall about 7 years old, alot of traffic goes in and out. the apartment accross the street do not have washer and dryer hook up's and according to 25 of the residence there the laundry room is either to far fromtheir unit, always broken or is just plan full. Then there is a trailer park. I spoke to the management office and they dont have alot of lot renter or owner that have in home waher and dryer and they do dont offer a laundy room. I want a shop that is close to home but someone else beat me to it! it is a nice place. very small and majority of the washer are the 50lb loads @ 5.75 a wash and the dryer are small but they are all brand spanking new. One thing there is rally no room for folding tables I would say ther are 4 folding tables. You see most of the customer folding from there carts. I want to know how do I get started and would it be bad business if I chose a location in the brand =new shopping center that has target, shopper, Kohls bed bath and beyond, best buys, applebee's, bob evans, and etc located in it. A friend of mine is leasing a space for his barbar shop in this million + dollars shopping center. Any guidance would be helpful. <font color="blue"> </font color>

[SecretarytoBraveDave]

I would be shocked if a kohls shopping center wanted a mat in the strip, but possible. You need to call the leasing agent and get a demo report. You will need several hundred households in order to get numbers that would be a good investment for you. How many tpd is the new mat getting? Maybe they built too small? If there prices are 5.75 for 50's you may be able to undercut as the average is 10 cents a pound, so 5.00 for a 50 would be good, 5.75 is too much.

Could you purchase the ancient mat and turn it around?