Some investors are compelled by entrepreneurial drive, while others are looking to generate a passive income. Many laundromat owners yearned for independence—an escape from the discouragement of the humdrum corporate world. While owning your own business can be a challenge, the world of coin-operated laundry has a long track record of profitability and positive cash flow.
Start With A Plan
It’s time to build spreadsheets, create pro-forma financial statements, and put your plan to paper. As you document potential sites for your laundromat, project your volumes and recognize your costs, you’ll see how your dream can become a reality. You will also recognize potential challenges so you can plan to overcome them.
Let the Speed Queen team help you get acquainted with the laundromat industry. Visit investinlaundromats.com to learn more about business planning, site selection, day-to-day operations and financing.
Financing Your Laundromat
As a rule of thumb, a laundromat investor should bring $50,000 or more to the table to open a new facility. In addition, qualified individuals and businesses often qualify to take advantage of Speed Queen Financial Services to acquire financing.