How do you open your own laundromat?

Answer 1

Here are some free articles that can help you get more information about the laundry industry and help you prepare your plan for success:

Coin Laundry: An Industry Overview http://asbdc.ualr.edu/bizfacts/8005.asp = a good overview of the industry
IRS Market Segment Specialization Program: The Laundromat Industry http://www.irs.gov/pub/irs-mssp/laundry.pdf = deals with cashflow and books of a laudromat business including water consumption analysis
http://www.coinlaundromat.com – California Coin Laundry Association

You can also contact and join this organization:

Coin Laundry Association (CLA)
http://www.coinlaundry.org
1315 Butterfield Rd., Suite 212
Downers Grove, IL 60515
Tel [phone]
Fax: [phone]

The Coin Laundry Association has a paid report called Today’s Coin Laundry ($69) that covers everything from inspecting an existing laundry to closing the deal, while helping you:

- Decide if the laundry business is for you
- Select the right equipment distributor
- Interpret demographics
- Conduct lease negotiations

For in-depth information, you may want to read the following books:

Start Your Own Coin-Operated Laundry by Mandy Erickson
How to Start and Manage a Coin-Operated Laundries Business: A Practical Way to Start Your Own Business by Jerre G. Lewis

The process of starting a business can be daunting, and having someone advice you of the steps and strategies to take can be a great help. There are organizations that provide just that, and you may be able to find a mentor from the following:

- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start Your Own Coin-Operated Laundry by Mandy Erickson
* How to Start and Manage a Coin-Operated Laundries Business: A Practical Way to Start Your Own Business by Jerre G. Lewis

Check the source box for an article link.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

In my opinion, best way to do this for money, open with a few machines in small apartment complexes, keep building. Good equipment is expensive, vandalism is a problem, I can't think of a worse way to invest 2 cents !

Answer 4

First, you have to make a market research, to find where it would be the best place to open one.
Then find a company that installs them, and takes a commission and even repairs them, so this way u don't have to invest in buying any.

Answer 5

buy space, when ther's a for lease sign. You got to get insurance and stuff like that. Then get contractors and make your dream come true. Talk to a real estate person about it.