Is it worth taking a business loan to start or expand a laundromat? Personal experiences and advice

Question

Hey all, I’m thinking about opening my first laundromat in a busy neighborhood, but the startup costs are pretty steep. I’ve been saving, but it looks like I might need a business loan to cover equipment and renovations. Has anyone here used financing to start or grow their laundry business? I’m curious about the risks and whether it’s really worth going into debt for this.

Answer 1

I was in a similar spot a couple years ago when I decided to expand my small laundry service into a full laundromat. Taking out one of those laundromat business loans made a big difference — it let me upgrade machines and add a few extra services customers love. Of course, it meant being extra careful with budgeting, but the increased revenue paid off the loan faster than I expected.

Answer 2

It’s fascinating how many small businesses rely on loans to get started or expand. What stands out to me is how important location and customer convenience are, especially in service industries like laundromats. Even small changes, like better machines or longer hours, can really influence success without needing huge investments every time.