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Washers and Dryers Review
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Building
a New Laundromat
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 The
obvious question to many people thinking about entering the Coin
Laundry Industry is whether it is better to build a new
Laundromat vs Buying a used Laundromat. There are advantages to
both approaches but the risk is much higher when building a new
one from scratch, especially if you are not experienced in this
industry. Other options include renovated Laundromats which I
highly advise people NOT to buy. Many brokers buy old
Laundromats, renovate them, and then try to resell them at a
much higher price by using "projected" increased revenue because
of these renovations. But this is really no more than a scam.
That's why I always advice new entrants to do their due
diligence on the industry, it is sad to see people lose
substantial amounts of money based on a Laundromat broker's
greed.
With this said, the benefits of building a new Laundromat are
many as well. One can have a selection of the layout of the
store, brand new equipment with warranties, higher income
potential, better lease terms. If this is the option you would
like to explore, you should contact at least 3 different
Laundromat companies and have them do the following for you:
- Laundromat layout
- Market and competition review
- Education on how to run a on Laundromat
- Site analysis
- Demographic reports review
- Necessary Lease concession for Laundromats
- Financing by equipment vendors
- Contractor and Building Architect recommendations
- Construction oversight of project
- General Advice on building and running a new Laundromat
Always MAKE SURE you check brokers with the Better Business
Bureau, ask for references, search online for comments on
prospective brokers.
Coin Laundry
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