how much would it cost to open an small laundrymat for an beginner?

Question

My friend wants to open one in NY or NJ?

Answer 1

Good idea. You should probably do a survey in the area you want to open one up in. Door to door is fine. Ask them if they would visit it, and how often, and even how much they have to wash (load wise, 1 load, 3 loads,etc.) Get a good demographic on the area. Get a map of your area, and pin down all the other laundromats, see if theres an area where there is none. When , or if , you need to apply for a small business loan, it might be helpful to show the loan officer the potential for business. With this information, and some number crunching, you can sorta get a projection on how much in sales you'll get.
You'll need to find out if you're going to have to rent a building, and if so , convert the wiring to accommodate the machines. Most run on 240v or 220v, whereas your house just runs on 110v . Or purchase a pre-existing Laundromat, ready to go. The building will have to be up to code as well.
You're going to need to apply for a small business license too. Not sure whats entailed there.
As far as the machines go, I'd speak with the owner of another laundromat ( far enough away where they won't fell like they're helping the competition ). Get something low maintenance and durable . Keeping the machines running is another cost. Ask them what they went through starting up their business. Maybe they'll tell you what kind of profits ( and setbacks) to expect.
Its always a risk starting a new business. Your friend will probably end up putting long hours in, as labor may be an expense they'll try to avoid early on. Hard work and a positive attitude are musts.
Theres probably more than just this, but I hope it gives you an idea or 2. Wish them luck.

Answer 2

the first thought that came to my mind upon reading this post was 1. WHY is college tuition fee is America ridiculously expensive? WHY do colleges need so much money? A college is NOT a company like Apple or Microsoft. My sister will graduate from her 4 years of university soon and the total coast of tuition pee paid during those 4 years....is OMG too much. the amount is almost as much as the U.S. national debt. 2. do colleges REALLY need a lot of money? 3. America is currently facing an economic crisis; it is predicted to be one of the worst ever in U.S. history. So unemployment is a rising issue, the economy is getting spoiled and there are more innocent citizens suffering beneath the poverty line. And i am NOT against the government but the federal government doesn't seem to be sorting it out well. I don't know that much about the ecnonomy, so I learned from my sister (she's a business / economics major) and i can tell that the nation, the economy and so on are all facing a crisis. Soo....i don't know but unless the government promises to like help the poor pay for college or something I strongly suggest that colleges DO NOT raise tuition fees. Otherwise...America will face an even worse educational crisis. Does the stuff I typed make sense? hope it does. And......the good news is that the expensive tuition fee paid to a great college was actually worth it since my sister got a great job 2 weeks before graduation.

Answer 3

I am not sure how much it would cost to open a small
laundromat, but there is on thing that I do know. And that is that the location must be in a neighborhood where people live who are of the lower income level. The reason being is that people with higher incomes will be able to afford their own washer and dryer.

Answer 4

depends. you must do some footwork. are you buying an established laundrymat? if so the cost covers all the contents. Are you renting a space and going to furnish it with machines yourself, then you must price them out. new or used?also need folding tables , coin machines , supplies of detergent, etc. Good idea would be to visit some established stores and talk to owners.

Answer 5

price a buildings rent
estimate water and electrical usage
liability insurance
purchase or lease of washer and dryers
it's going to be a lot of money!