A laundromat can be a simple way to generate revenue without putting in a lot of time or hours, but it is not a cheap venture to take on. You have to consider the building lease and the laundry equipment in Raleigh, NC. Then there are your employees, such as on site workers or an accountant, utilities and other odds and ends.
Let’s take a look at some of the major expenses involved in running a laundromat.
Common Laundromat Expenses Owners Face
Building
A laundromat needs a good location. It is generally a space in a shopping center or strip mall that you lease. Not only will you have to pay for the space, but if it is not outfitted to be a laundromat, it will have to be transformed into one. That includes installing plumbing, electrical and the equipment itself.
Equipment
The most important thing in a laundromat is your equipment. Having reliable commercial washers and dryers is key to having a successful business. If you are using old, broken down or poorly built equipment, then it will probably need repairs often and that means it will be out of service for your customers. If you want to purchase top quality, heavy duty washers and dryers for your laundromat, call T & L Laundry Equipment to get pricing on reliable equipment.
Utility Bills
You’ll have to pay for the all the electricity, gas and water you’re using in your laundromat. If you have invested in energy efficient equipment, you will benefit by seeing reduced utility bills.
Employees
You may need to hire someone to be available during peak hours, so paying for labor will be another expense for your business. Most laundromats are self-sufficient, but it is up to you whether you want to have someone around or not. You may want to hire someone just to make repairs when they are needed, so that will be a factor in your monthly costs.
Maintenance
Even if you don’t have a designated person for repairs, you will need to factor in maintenance in order to keep your equipment in top shape. Having your washers and dryers serviced regularly can help them perform better and last longer, which is an expense that is worth it.
Other Amenities
Most laundromats offer other amenities in order to keep up with the competition. If you want to keep your customers entertained, you can install televisions and get cable. You can also offer free Wi-Fi. Both are expenses that you wouldn’t have a return on, other than keeping your customers happy.
Other things you may have in the laundromat that will have upfront costs include vending machines or change machines. If you purchase baskets or rolling carts, you will have to plan to replace them every few years.
Professional Help
If you want an accountant to handle all the financial aspects of your business, you’ll need to factor in the cost to retain one for those purposes. It is not required for you to have an accountant, especially if you know how to manage a business, but you still may need help when tax season rolls around.
New and Used Laundry Equipment in Raleigh, NC | T & L
T &L Laundry Equipment can be a key factor in your success as a coin operated laundromat owner. We are a full service distributor providing investment opportunities, commercial laundry equipment in Raleigh, NC, dry cleaning equipment, parts, assistance in financing and a small business plan. Call us today to learn more!
