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    If you have a great location with people who do not have laundry rooms at home, then am sure you will get quite a number of customers. I also think with the number of machines that you might have installed, you will get a number of customers.


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    I'd only be for this idea if the potential rate of income will pay for the machines and rent in 2 years or less. Even if these types of businesses are still profitable now, it's difficult to predict that it will stick around as technology advances and these appliances get cheaper and cheaper for the average consumer household. If your location is conducive for such a business, then I'd agree that it's a good way to gain passive income, but keep in mind that it will still require a fair amount of management in terms of maintenance and security as well.


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    My cousin has her own laundry business and it's really profitable specially if you have a lot of lazy people to do their laundry for you.


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    Quote Originally Posted by fredkawig View Post
    My cousin has her own laundry business and it's really profitable specially if you have a lot of lazy people to do their laundry for you.
    So her business model isn't self-service, but rather she (or an employee) does the laundry? I'd imagine the profit margin is higher, but I don't have the time to invest in something like that. Well, not at this juncture anyway.


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    Quote Originally Posted by mikelouis View Post
    If you have a great location with people who do not have laundry rooms at home, then am sure you will get quite a number of customers. I also think with the number of machines that you might have installed, you will get a number of customers.
    This is absolutely correct. A laundry service is solely dependent on location, because most home owners already own a washer, and dryer. Like I said in an earlier post. The best place to open a laundry service is in low income areas, or places like new York city, where owning a washer, and dryer is rare.


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    Quote Originally Posted by Eagles910 View Post
    This is absolutely correct. A laundry service is solely dependent on location, because most home owners already own a washer, and dryer. Like I said in an earlier post. The best place to open a laundry service is in low income areas, or places like new York city, where owning a washer, and dryer is rare.
    Now that you mention NYC....

    It's also good to consider the option of having an on-site attendant who can be paid to handle the laundry for busy people who may need to do laundry during the day or even have a quick dry cleaning/pressing service. This is great for busy professionals.


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    #17
    Join Date
    Mar 2014
    Location
    Pretoria, South Africa
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    31
    The market that you decide to target will be key to the success of the venture. Focusing on college towns with a venue close to dorms will be a viable option. If you go ahead and include free wi-fi and vending machines, your potential turnover will increase. The biggest risk will be the overhead costs (maintenance, new equipment, rent) and you need to conduct a proper exercise to determine the breakeven point of the business. This can then be broken down to the number of visitors that you need monthly to cover your costs. It might be a good idea to do a survey prior to opening your business to gauge the need of this type of service.


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    My neighbor actually just bought one! Seems to be doing well for him so far, he just graduated college and he said he is able to use it to pay off his tuition, so I would say it's doing pretty well for him!


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    Quote Originally Posted by eagle22 View Post
    My neighbor actually just bought one! Seems to be doing well for him so far, he just graduated college and he said he is able to use it to pay off his tuition, so I would say it's doing pretty well for him!
    Very nice. Do you know how big of an operation it is? Did he mention if the initial investment was particularly onerous?


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    How to choose a washing machine for laundry? The most important indicator is 1) reliability (will be washed almost every day), 2) 1000 turns 3) load of laundry from 5 kg. While the choice fell on https://ianboer.com.au, because they have a warranty on some washing machines 5 years! (What do you think about this?). They have a voltage stabilizer against surges. We need a reliable and eternal washing machine.


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