coin operated laundry

[PBR]

Does anyone have any experience with this small business?..this seems to be a fairly simple/easy bus to get into...immediate cash flow...What are the major drawbacks?...thanks guys.. (any positive thoughts also?)

 

[bran987]

I know a guy who owned these and earned a lot of "tax free income" lmao
(that's illegal btw)
believe it or not, he then moved on to owning gas stations

and now he owns a Wyndham Hotel!

I forgot what the issues were with this business.

 

[indyjones]

two main issues
1. repair costs. if you can fix the equipment yourself or learn how to do it you'll save a ton of money

2. location. the real moneymakers are located in bad areas. So, when you start up you;ll be spending a lot of time there.

if your in the chicago area i know a broker who specializes in laundry business.

if you need anything else hit me with a pm

 

[mighty306]

Does anyone have any experience with this small business?..this seems to be a fairly simple/easy bus to get into...immediate cash flow...What are the major drawbacks?...thanks guys.. (any positive thoughts also?)

PBR, I don't know where you are located (as the demographics you are targeting will greatly influence the outsome of your effort)

However, I do feel that when entering such a highly penetrated market such as coin-op laundry, positioning and differentation is key. If you are in a city dominated by apartments that are occupied by upscale clientele with buying power, I beleive that the right environment could draw marke share. A few ideas cross my mind and I truly feel that you could set a quite lucrative price point if the variables are in place.

 

[anibal]

I am also interested in a coin operated laundry i live in mass

 

[bran987]

PBR, I don't know where you are located (as the demographics you are targeting will greatly influence the outsome of your effort)

However, I do feel that when entering such a highly penetrated market such as coin-op laundry, positioning and differentation is key. If you are in a city dominated by apartments that are occupied by upscale clientele with buying power, I beleive that the right environment could draw marke share. A few ideas cross my mind and I truly feel that you could set a quite lucrative price point if the variables are in place.

upscale apartments usually have washer/dryer connections in every unit!

 

[anibal]

coin op laundry or curves for investment?

 

[mighty306]

upscale apartments usually have washer/dryer connections in every unit!

Bran, I don't know where you live, but in Philadelphia streets are overpopulated with coin-op laundry ops... Many upscale buildings in the city are old and don't have machines in any units and are lucky to have them in the basement (and no one likes that).

Same goes for friends that hace places in soho/chelsea/meatpacking district...

 

[bran987]

Bran, I don't know where you live, but in Philadelphia streets are overpopulated with coin-op laundry ops... Many upscale buildings in the city are old and don't have machines in any units and are lucky to have them in the basement (and no one likes that).

Same goes for friends that hace places in soho/chelsea/meatpacking district...

aaaaaaaaaahhhh, gotcha

I'm in Dallas, TX

I've never built apts in the northeast, only the west coast and texas