I may be buying a small laundromat here in florida. It's about a $30,000 investment, which is pretty cheap but there is a large "better" laundromat across the street. The place I'd be buying is in good condition with equipment that is over 10 years old (not so good). I have a lot of respect for this forums analytical abilities to make a clear / wise / logical decision. This is only a $ 30,000.00 investment but how long does it take to make back $30,000 and start putting money in my pocket?

Look at this by the year::

Rent - $ 1500/mo
Gas - $ 200/mo ?
Electric $ 300 / mo ?
Water $ 150 / mo ?
Employee $ 1300 / mo ?

$ 3450 / mo ? $ 41,400.00 / year
( $ 115 / day )


Using 312 days open / year means I have to make $ 132.69 / day to cover my costs. Using $ 5.00 / customer ( shooting from the hip ) means 26.5 customers / day have to wash clothes.

I have not made a nickel yet - I need to know how many customers per day wash their clothes! How do I find that out? I need to know the average amount spent per customer. Is it 2 loads of clothes?

Here's how it is done -

Assume 8 hours / day ( that has to me nailed down ) = 480 minutes

Now lets divide that into 48 minute increments ( Lets assume it takes 48 minutes for a person to get in and out )

480 minutes total divided by 48 min increments = 10 people

If 10 people spend $ 5.00 each time then that covers my rent but I need to cover utilities which is another $ 65.00 / day

23 people / day x $ 5/person = $ 115 covers my rent and expenses

I know I am going in circles - that's why I need someone with a clear head.

50 people / day X $ 5.00 / person - $ 250 covers my rent and expenses plus profit

$ 250 - $ 115 = $ 135.00 profit / day x 26 days ( close sun ) = $ 3,510 / month profit x 12 month = $ 42,120.00


Hope that wasn't too much reading. I could really use a helping hand here. Is it really necessary to have an employeee working there? Maybe just security cameras and someone to open/close the store and empty the change out. Any information provided will be read, thanks.

is this in a part of town where people can not afford a washer and dryer? I dont see to many laundromats where i am from.

also i dont think each person would spend 5$ unless you have expensive machines.

other than that i say do something that the bigger laundromat isnt and hope you get his customers..