New laundry & Competition

[clothes_tyme]

I have an opportunity to open a brand new laundry (2250 sq ft) and build it from the ground up in a strip mall that is owned/built by a personal friend of mine.

The problem is that there is a small old outdated laundry not far away (approx. 1/4 mile) with no room to expand. Then there is a good size, old, outdated laundry (approx. 3/4 mile) with room for change. I believe both are own by a franchise (they have the same name).

Question? Can I make money with the nearby competition? I am definitely putting in vend & games. Any suggestions on thinking outside the box?

Please advise. Construction on the strip mall will begin in January. I need to make a decision to open the business where he will configure the space while building and the lease equitable or find another location to build/reconstruct. [img]/ubbthreads/images/graemlins/confused.gif[/img]

[JimG17]

Buy the two nearby mats, remodel, upgrade machines judiciously and you'll own two mats for 50% of the cost of building a new one from the ground up with all new machines.

Just a thought....

[clothes_tyme]

The 2 laundromants are franchised (Launderland). I have checked they are not for sale.

Any other suggestions?

[petefritz]

Find another location if the current one has enough mats. Thuis is becoming a problem in many areas..

you may not make any money on your new investment and that is no good.