How to Open a Laundromat

You can really clean up in a laundry business after you follow these easy steps.

Difficulty: Moderate

Instructions

Things You'll Need:

• Business Plan
• Direct Mail Pieces
• Business Licenses
• Business Loans
• Business Services
• Commercial Real Estate Broker
• Business loans

1. Find a location that needs a Laundromat. A high-profile location, such as a spot on a busy street with good visibility and plenty of parking, is a necessity for a business such as this to succeed.

2. Contact the city or county department that handles business licenses and request an application.

3. Ask what other requirements there are for opening a business. You may be required to have insurance, or you might have to follow certain restrictions for the area.

4. Go to the Franchise Tax Board to get a wholesale permit, if required. This will allow you to purchase goods without paying tax if they are to be used in your business.

5. Research Laundromats. Decide if you want a fully automated Laundromat, or a partially automated one that includes additional services such as ironing and folding.

6. Decide whether you want to purchase a franchise or open an independent business.

7. Make a business plan. You'll need to have all of the aspects of opening and running the business worked out for the short and long term.

8. Get financing. Unless you have a lot of money lying around, you will need to borrow money to build.

9. Advertise your new business. Let people in the area know that you're open for business.

10. Consider the cost of maintaining washing machines and dryers. Plan for repairs and replacement as a normal cost of business.

11. Talk to owners of existing Laundromats and ask them what problems they've had, what they would do differently if they could, and whether they want to sell their business. Buying an existing business is a lot easier, but could be more expensive than starting your own.

Tips & Warnings

• Areas where there are lots of renters need Laundromats. Consider this when choosing a location.
• Consider locating near a college; students always need Laundromats.
• Spice up your business by adding a secondary service such as coffee or baked goods to lure in more customers.
• Be prepared to deal with some less-than-desirable characters wandering into the Laundromat late at night, although this will depend partly on your location.

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[coinlaundryassn]

on 10/14/2009 You should also look into the industry's association - the Coin Laundry Association. (www.coinlaundry.org)

[webpath]

on 8/31/2009 The business plan should be step 1, not Step 7! If you're in the USA, you should schedule a free session with a SCORE.org counselor about the plan, laws and such that pertain to your new business and anything else you want to know about business success.

Why is the plan so important? The process of writing the business plan will not only be your road map for a successful small business, but it will also be a required document for financing. It says to investors "I've thought this through and you will get your money back and I can prove it."

[humble1]

on 8/25/2008 It all depends on the size of the store and the location your are in.

[utahseo]

on 4/30/2008 Marketing your laundromat online by posting on free directories like www.laundromatic.com doesn't hurt either.

[mzonline76]

on 2/22/2008 I was interested in opening up a laundromat business, but can you tell me the approixmate monthly income?