Startup Costs

[themprgroup]

We are looking at investing in the business south of Atlanta, GA. and need some feedback as to resources for: estimating formulas on demographics e.g. renters vs. owners what percentage of renters is needed, the best brand of machines to purchase, how to estimate the price of a wash and dry with no base line, cards vs. coins, promotional ideas, etc. We would also like to hear any comments about businesses that "assist" in setting up the entire package, ie. machines, buildout, financing etc. all for one "low" price...just sign here!

Mr. Fritz I see that you're the Coin Op King so have at it.

Thanks to all in advance...Mark /ubbthreads/images/graemlins/confused.gif

[azkid]

Is that all you want to know...gheez, that's too simple.

I would suggest you first talk to distributors in your local area and also tour some existing laundries to see what seems to work the best. When you have some idea about what the venture entails, more specific questions get more specific answers.

[SecretarytoBraveDave]

I learned so much when I analyzed specific areas. Most lease areas, have demos available for the potential leassor.

Learning about the laundromat business and the market is essential to your success, reading about the experiences of others may give you ideas of what to address they wont give you the knowledge you need to educate you on specifics needed to make the vital decisions of this venture you need to do the homework yourself.

[rick]

check out http://www.coinlaundryclub.com it may help with your research

[themprgroup]

Thanks Rick for a considerate answer to some honest questions.

Lots of good links and some solid information.

[petefritz]

I have of course info I have learned over the years on what you are asking, but it would not be right to just post a bunch of numbers. For one thing free info is worth what, well, nothing. A professional approach would be to pay for it, reasearch, consulting, engineering, etc.. And if you want to start an new mat, get some checks printed, becuase you will need many. Expect twice what you get quoted, 3 times the time promised, and as a new mat, a 20% chance of making any money, NOT cash flow, within the first few years. The cheap way to dip your toe is call local distribs and get thier imput as to your site, which I assume you have picked out and think it is the best one around, even though every laundry mat owner in the area has passed on it. I don't mean to be harsh, just waking you up. It is a nice business, not for everyone, and not get rich quick. Maybe I should start by asking why you want to own a mat and what you expect out of your cash (in) return?