Start a Coin Laundry Business

Coin operated laundry services thrive because of constant demand. We generate tons of dirty cloths daily and they need washing.

We could wash them manually by our self, use home appliance, hire a washer-man or use coin operated laundry services.

The startup of a coin laundry business depends on the scope, size and location of the enterprise.  To maximize funds purchase only equipment you can afford, find a middle class location and install equipment.

Other things to consider are maintenance, leasehold and strategic marketing.

How to Calculate Startup Cost for Coin Laundry Business

To calculate start up cost you need to factor the following. Two year rent and leasehold, cost of utility such as electricity and number of coin operated machinery.

Calculate the amount needed for esthetics additional services such as snack bar or kids designated area. You might need an attendant to monitor the activities of patrons.

Services

Coin operated laundry services revolve entirely on providing an easy way to wash cloths. Most are self service and are operational with either coin or debit card processing technology.

The attendants job could include coin exchange for cash and supervisory services. To succeed your laundry service should be time saving, easy to access and convenient.

You could increase revenue by including a pickup and drop of service at additional cost. Offer your customers multiple services such as selling cold drinks and snacks.

Additional services found in such establishments are free internet access for patrons, mail box rental and mini-mart. Provide a community based atmosphere to attract regular patrons to the laundry.
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Coin Laundry Services

• Providing coin operated washing machines
• Providing debit card operated washing machines
• Supervisory services
• Pickup-drop
• Sell snacks, cold drinks
• Free internet access
• Mail box
• Minim-mart

Financing the Business

You can source funds through bank loans or crowdfunding. Find a core investor or borrow from friends and family.

The business is capital intensive and already saturated. Try partnership arrangements or sell startup equity to investors. 

To access funds from financial institutions you need collateral, a guarantor and some cash in hand. Present your business plan and other relevant documentation.

Licensing

Laundries handle lots of waste water so they need waste pollution control permit. Secure a trade license and other permits based on your services. Get insurance cover and tax related certification.

Equipment’s

The primary equipment’s are the coin operated laundry machines. You could buy or lease equipment.

Commercial laundry machines are pricey and highly automated. Startup cost involves rent, equipment, staff wages, utility bills, waste management and furnishing.

Location and Building

You could purchase an existing laundry or build one for scratch. An existing facility would require remodeling and refurbished equipment.

Before leasing or buying any laundry find out the customer base, challenges, profit and loss. An average sized laundry business could set the investor back $500,000.

Marketing

Use flyers, billboards, sign boards and business cards to spread the word. Other channels include online classified advertisement, radio and television advertisement. Build a targeted website and use social media to drive traffic.