Laundry Facilities
Hey guys,
I'm looking to purchase a 6 unit with two store fronts. One store front is rented the other vacant. I'm thinking about the possibilities of putting like a laundromat, or maybe a subway or phone place as my own personal business, or leasing it out for cash flow.
My question is, as far as the laudry goes, any1 have an idea of cost to start somthing like that, and what , on average, it makes a month
I'm not sure of the start-up costs but I've seen turn-key laundromats selling for 60,000 and giving off 30,000 per year. I think the Subway would be a less expensive from the ground up.
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I'd think that before you begin your detailed investigation into the economics of a laundromat (or a subway), you need to do a market analysis of the area. Things like competitors, traffic (number of cars), etc..
I'd have to imagine that besides rent (which you'd be the landlord), your biggest on-going expenses would be your utilities (gas, electric, water), machine maintenance, and insurance. Probably in that order (?)
Good luck, Mark