View Full Version : Novice getting ready to purchase coin operated lau
subman
08-07-2004, 07:08 PM
I am getting ready to build a strip center. I have investigated coin laundry business and decided that it could be profitable. The town is very small and presently has one old neglected and unattended coin laundry. I will be located on the other side of town in the higher traffic area with more retail businesses. Since this is a rather small town, the laundry will be 8oo sq ft., a typical size for the small towns I have researched. Everyone that I have discussed this with says it should do well. However, there must be many areas of concern. I am asking for assistance from experienced owners as to some dangers to look for or additional research to do. Any comments would be greately appreciated.
Not sure if you are building a strip mall or leasing a unit to build a mat it makes a big difference. the first place to start is demographics and local knowledge is as important. you need to determine the volume of biz the old store is doing and what is its capability. where are the customers coming from. typically most mats do not do so well in just a retail enviroment especially in a upscale area. you need low income and lots of rentals in your area and then you need alot of luck. if you are tight on cash then I would suggest that you investigate every aspect before you commit, maybe it would be better to buy the old mat. then remodel. sometimes this is not an option then one needs to look at building a new one. BEAR IN MIND THIS IS RISKY. remember it's only money.