Do Coin Operated Laundromats make good money and are they worth investing in?

Answer 1

My family did a booming business in an Army Post town in the 1950s thru the 1980s. Now there are some downsides to this, in maintenance, security costs (if it's in a questionable area especially).
If you are buying an existing business, be sure you know why they are selling it. Most people don't leave a money maker unless they are retiring, or have health issues, etc.
The best business advice I would ever give is, don't think you can make money somewhere that every other business has failed in. There's probably a reason why other business have closed in a given area. Not to say don't be an entrepeneur, but don't gamble your future too quickly, study the market and do your homework carefully. All your buddies that wanted you to give them your money are gonna be hard to find later, trust me.

Answer 2

Yes to both. As in any business though the profits lie in location, location, location. Make sure there are plenty of available users. Hi occupancy apt. dwellers, etc. To see how profitable laundries are in your area is as simple as looking at the prices of those available for sale. The price is market driven as in any other commodity.