/biz/ - Business & Finance

>>54981874
I'd rather have a mattress store

>>54981874
They are comfy. Just need to do maintenance and cleaning. Although you can also run added sercices, like fluff and fold. You can add vending machine, and arcades. Like any business it really come down to location, parking, location, and parking!

I owned 3 different ones. The only one that I kept was near a college campus. The other 2 were headaches because you'd have crackheads basically live there. There was a woman that would give head in the bathroom for meth money. One of her friends also royally fucked up some of the machines trying to drill in and get the quarters.

Also, joggers think that if they pour saltwater down the quarter slot your machine will jackpot and make them Rich. It doesn't work, for them, but it does ruin your machine.

Last thing, you cant trust anyone else to collect the money. I had employees do it and somehow I'd always get at least 10-20% less money that week.

>>54981874
I don't know anything about laundromats, but I do know if you're clearing nine grand a month you're going to get royally fucked on taxes.

you'll need to figure out how to reinvest that into capital expenditures that you then borrow against if you don't want over half of it going straight to the government.

OP, you are running the wrong kind of laundry.

>>54981874
>I can buy a decent pre existing one with brand new equipment for 350k and it does about $11k revenue per month with 1.5k expenses.
so why the fuck are they selling it

>>54981874
black people were robbing laundry mats in the bay area

something to consider when working with a business that uses a lot of physical cash

>>54982694
>something to consider when working with a business that uses a lot of physical cash

Nowadays some of them use preloaded debit cards basically. People add credit to a laundry card and then swipe it on the machines. You could probably have them do it through an online check out or if they have cash an ATM like set up in the building. You barely even need an attendant there at that point.

Idk if you will get less revenue though by not having quarter machines. Its hard to say if people will avoid that system.

Some other guy said only servicing college areas is also key. Too many issues with crack heads and friends.

>>54982790

I imagine being open 24/7 without anyone on shift is probably fine if you have good insurance for theft or destruction. Who knows what something like that would cost though.

>>54982011
>you'll need to figure out how to reinvest that into capital expenditures that you then borrow against if you don't want over half of it going straight to the government.

Also something to consider. I suppose maybe you could buy a parking lot/building near by and then borrow against it. A section for free parking for laundry customers and then a section for other people in the area to purchase spaces if the location is prime.