The Coin Operated Laundry Business
A laundromat is like any other small business, it has a location, staff, expenses, employees, etc. What makes them a good business to get into is that they have been around for a fairly long time, 50 to 60 years or more in some areas. Coin Operated Laundry services have always been good businesses to get into back then and even today.
Everyone, including yourself, have dirty clothes... that's millions and millions of potential customers. Your not going to get them all, but you will get some of them. The base operating of a laundromat is self service for the customer, so they are actually doing the work, you are simply supplying a location and equipment. You may already decided this and are looking for ways to find that business, either locally or in another area.
Finding a laundromat for sale
To find a commercial business, you'll need to be looking in the right place. Browsing your local newspapers will usually not provide much, you might get lucky and actually find a great local laundromat to buy, but the odds are low. What you will need to do is find a commercial Realtor or commercial business listing. Some that you can look at online include www.business.com and/or www.loopnet.com . Both have great listings on available businesses for sale.
Buying a Laundromat
As I have said before, there is a lot that you need to consider when buying a laundromat. Everything from the location, equipment, laundry supplies, commercial laundry machine servicing, the building itself, leasing options, legal issues, customer demographics, earning potential and especially the reasons as to why an existing laundromat is for sale in the first place.
If you are looking at buying an existing coin operated laundromat business, you need to know why it is for sale. If the current owner is retiring, illness, or something that would prevent them from continuing in the business, then it would be a good location to consider. However, if you cannot determine the exact reason, then it is likely that the owner is not earning enough, or is loosing money. This could be because of the location, equipment failures, pour service or something that is keeping the potential customers away.
Not only should you look at existing laundromats for sale, but you should look at some that are not for sale. See if you can get in touch with other owners, preferably on the other side of town. If you related to another business owner and you show that you don't have any competition with them, they will be more likely to help you out. Most small business owners that thrive are proud of their achievement and I have found that they often like to talk about it. Be straight with them, tell them you want to get into the business and that you are curious as to why they have done so well. Complements do work wonders, even if the place is a dive.
