How much does it cost to open up a laundromat?

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asked Oct 2, 2019 in Investing by Lo009k (310 points)
How much does it cost to open up a laundromat?

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answered Oct 2, 2019 by Andy2roo (450 points)
The cost to start up a laundromat can vary depending on how big the laundromat is and how much supplies you need and the cost of the building as well.

Most laundromats can be started for as little as $50,000.00 to $100,000.00 in some places and other places may cost more.

You can usually get started in the laundromat business easier and cheaper by becoming a franchise for a laundromat brand.

They can help you get started in the laundromat business for less cost with a well known brand of laundromat and appliances.

You can take out a business loan and pay the monthly loan payment and still make your profit with a really busy laundromat.

The amount of money that laundromat owners make per year per laundromat is around $30,000.00 to $100,000.00 per year depending on the size of the laundromat and how busy the laundromat is.

If the laundromat is in a less busy location then you might only earn $20,000.00 to $30,000.00 per year after all the expenses are taken into account.

If the laundromat is in a very busy location and you own more than one really busy laundromat then you could earn $200,000.00 to $500,000.00 and sometimes more.

The average laundromat owner earns around $30,000.00 to $50,000.00 per year which is on par with an average minimum wage salary job in some places.

Owning a laundromat is a pretty good passive income source though because laundromats will always be in demand as long as people wear clothes and need to wash them.

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