7 Simple Steps For Starting a Commercial Laundromat in USA
Opening a laundromat was probably not a childhood dream for everyone, but few business ventures are reliable and low-risk enough to invest in a laundromat. According to a Speed Queen survey, the success rate of laundromats is 94.8%. This may be too expensive, but not many people disagree with the fact that laundromats do a good business, attract patrons, and have been in business for decades.
The reason for opening a laundromat is simple. Most of us do not have a cleaner and washer at home, and everyone wants clean clothes to wear. Risk-averse entrepreneurs can find a home in laundromats’ boring and turbulent world.
In this guide, we’ll look at some of the features that make emerging small business owners a good candidate for opening a laundromat and then dive into the step-by-step process of opening a laundromat in the USA.
How to Start a Commercial Laundromat?
Opening a laundromat is not the butter cake. You need to do many struggles in different aspects to make your investment fruitful. Following are the steps which will be helpful for you in opening a Laundment:
You can’t expect a laundromat to open and succeed somewhere, as laundromats tend to attract a particular customer base, low-income lessors. Instead, you need to open a laundromat in an area where people are concentrated in the target market.
However, there are exceptions. There are wealthy areas where there is a shortage of homes equipped with washers/dryers, and laundromats also have a place in the local community.
Do your research to find the right place for your business in a densely populated area that will likely attract customers.
Don’t forget to explore google search results. Select that region with high searches of “laundry company near me” & checkout the competition as well.
#2. Decide Which Services You Will Offer
It’s time to create a business plan. What makes the new laundromat different from other laundromats?
Be creative with your business ideas. Self-service washing machines and dryers of various sizes are available, but many laundromats offer additional laundry services such as dry cleaning, washing, and folding. This allows the laundromat to be separated from the crowd and attract various customers.
In addition, people are likely to spend at least a few hours in the facility, so it is advisable to provide free public Wi-Fi and children’s books, toys, or other distractions.
#3. Calculate Expenses
As we have mentioned above, starting a commercial laundromat costs thousands of dollars. Here we calculate the significant expense for you, so keep your budget up to date according to this list:
The cost of choosing a laundromat location can vary significantly depending on local real estate prices and square feet. A laundromat needs to be at least 2,000 square feet to accommodate all the equipment and give people room to move around, but often as much as 45,000 square feet.
Washers and Dryers
Equipped with machines in your business is expensive. Top-loading washing machines range from $ 400 to $ 700, while front-loading washing machines cost five to ten times. Industrial dryers are also costly, averaging $ 5,000 per unit.
Buy several washers and cleaners for the laundromat, but it should be in your budget. Try to maintain the number of at least 8 of each. But keep in mind that investing in a better model now will save you on maintenance and repair costs in the long run.
Providing refreshments by vending machines that sell laundry detergents, dryer sheets, fabric softeners, etc., is a great way to add an additional source of income.
Laundry pickup and delivery near me is another important service that you can offer to your local customers. It will be a plus point and you will be able to stand among competitors
#4. Obtain Necessary Permits
To open a laundromat, you may need to obtain licenses or other certificates that depend on local law.
Local Business License
Confident municipalities need businesses to get an extraordinary local business license to operate in the area.
Fire Safety Permit
It is essential if you want to install fire alarms or sprinkler systems at your laundromat.
#5. Buy Insurance Coverage
Insurance coverage is a vital safeguard for any business, including laundromats. If you have a full-time employee in your laundromat, you need to buy the following types of insurance from the federal government.
Professional Liability Insurance
It covers medical costs and disability benefits if an employee is injured or becomes ill on the job.
Commercial Property Insurance
It benefits workers after a loss of job through no personal fault.
#6. Market Your Business
Without local advertising and an established online presence, a laundromat would not be successful. The essential steps to promote the laundromat business are:
Open Social Media Accounts
Register your company on famous online social media accounts and share a post related to your business that will be very helpful to you.
Display Ads On Billboards
It’s worth raising awareness by displaying ads in local newspapers, highway signs, and local billboards.
Make a Google Profile
This will be the best way to speak up for your business. You can add your address, pictures, contact number, and services you are providing.
#7. Drop-Off Service
Consider offering a drop-off service for busy customers who do not have time to stay and do their own laundry. Hire someone with experience in household cleaning to handle your customers’ clothes.
Can I Generate Money by Laundromat?
Yes, you can generate a lot of health from the laundromat. A well-maintained laundromat can provide its owner with an almost comfortable income for years to come. The company can make money from the community’s washing machines and dryers, but it can also make money from other comprehensive vending machines and service options. Like any other business, it requires planning, attention, and regular maintenance.
How Much Does it Cost to Open a Laundromat in America?
Whether you are starting a new setup or buying an established business, you must spend $200,000 to $500,000 to open an average-sized laundromat.
I hope this article will be helpful to you in establishing your own laundromat business. If you want to start a new setup, follow up on our steps to develop a profitable business.
If you have any queries, we are ready to assist you in our comment section.