If you’d like to start a business that has the potential to be a revolving door of passive income, a laundromat can do just the trick.
You’ll have the positive feelings of knowing you’re helping people, well also racking up plenty of income year-over-year. A commercial laundry business can generate serious revenue, and it all starts with the purchase of the best equipment.
Use the tips in this article to help you find what you’re looking for.
Think About Your Laundromat and Its Needs
Before purchasing any commercial laundry equipment, start figuring out your business’ most dire needs. For example, there’s no need to bite off more than you can chew with the number and price of the laundry machines. Figure out what kind of revenue you expect to bring in and how many customers you can reasonably serve in the confines of your square footage.
Draw up a business plan that handles all of these matters and it will go a long way toward informing your equipment purchase.
Crunch the Numbers and Come Up With a Budget
It’s important to have a price range for any commercial equipment that you are going to purchase. Once you know exactly what you need, you can research what’s available and figure out how much money you will need to set aside or finance.
You’ll generally pay $150,000 or greater for some starter commercial laundry machines. You may be able to lower some of your costs if you’re open to used equipment and want to catch a liquidation or going out of business sale.
Learn About the Best Commercial Laundry Machines on the Market
It’s up to you to get to know the technology when you’re searching for commercial equipment. Look into the best features and whip out your calculator to determine how quickly and effectively you can get people in and out of washers and dryers.
You need machines that hold up against constant use so that you never have to go without them. Always factor in the total cost of ownership (TCO) and not simply the initial cost.
Make Arrangements for Using Your Laundry Equipment
Once you determine how many laundry machines you need and what type, be sure that you’re able to put it all together in your laundromat. Draw up several blueprints for how everything will be laid out, and take measurements of everything to make certain.
You’ll need to plan for efficiency so that your customers are comfortable and served. Consider this site when you’re looking to weigh your laundry equipment options:
Do What’s Best For Your Laundry Business
The tips above will help you out when you’re purchasing equipment for your commercial laundry business. If you’re going to get into it, make sure that you do it the right way by taking ownership over every detail.
Begin scouring the market for some of the best commercial washers and dryers that you can find. Check out some of our other posts when you’re ready to brush up on your business skills and information.