Opening a new commercial laundromat can be a lot of work, especially this year; but with PPP money and small business loans widely available to stimulate the economy in the middle of this pandemic, now may be a good time to expand your business. Still, there are a few things you should consider before you start planning and designing a new facility. With that in mind, today we'll discuss 4 things to consider before opening a new commercial laundromat.
The Initial Investment
When you consider the initial investment to open a new commercial laundromat, you have to consider everything from the facility to equipment to staff wages and legal fees. As such, the average cost to open a new commercial laundromat is between $300k-500k if you choose to rent space but can easily cost an additional $200-500k if you plan to build your own facility.
Furthermore, to get a commercial laundromat fully up and operational, you should expect the planning, design, move-in, and set-up process to take at least 3-6 months depending on the size of your space, water connections, drainage, and other factors.
To get a laundromat fully up and running for business, you can expect the overall planning, design, move-in, and setup process to take at least three months. Sometimes, it can take six, depending on the size of the space, water hookup and sewage factors, and more.
Demographics of Your Area
Beyond the initial investment, understanding the demographics of your proposed commercial laundromat is critical. Consider the number of apartment complexes, colleges, or universities, as well as the income level of nearby residents.
On a similar note, while you're trying to understand the demographics of the area, also consider your competition. If the area is full of apartment complexes, find out if their residents have washers and dryers in their unit or community laundry rooms.
Or, will you have direct competition from another local laundromat? If so, where are they located? what type of equipment are they using and do they offer any special amenities to their guests while they wait?
Finally, before opening a new commercial laundromat consider your facility. Where will it be located? Does the current building have plenty of windows and natural light inside? Will your customers feel safe? Is there sufficient parking available near the entrance?
Stay away from buildings that do not have adequate lighting or windows, or plan to add some in the process of renovating. Also, make sure that if the facility lacks sufficient parking that you plan to add additional spaces close to the entrance before opening so that your customers don't have to walk too far from their door to get large loads of laundry inside.
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If you're thinking of opening a new commercial laundromat, trust T&L to help you get started. We know that planning and designing your new commercial laundromat can be stressful and overwhelming, but it doesn't have to be.
We have engineers on staff that are familiar with the designs and needs of commercial laundromats. In addition, we have architects with extensive design experience, as well as offer attention to detail in the planning of the business. This, combined with our location finding assistance and evaluation of demographics for the area you’ll find that we go above and beyond to help you open your business without any issues. Even more, we strive to analyze the competition, including their equipment and location. Our goal is to make your business successful. For more information or to ask any questions, contact us.