Coin Operated Laundry Business & Calculator
The coin operated laundry business, also known as self-service coin laundry business, or Laundromat Business, is a recession resistant business with a very high success rate. Coin-op laundry is an all-cash business, requiring very few or no employees, and best of all very profitable (return on capital of 20% to 50%) for the owner.
Laundromat Business Calculators
Want to quickly estimate how much cash is generated by a laundromat business you’re looking to buy? Wondering how much you should be paying for a coin laundry business or how much YOUR laundromat is worth?
Use the following handy laundromat business calculators to find out.
Estimate Gross and Net Income of Laundromat Business
Enter # washers in a laundromat and average price to wash one load to estimate the monthly gross and net income of this coin laundry business.
You can also adjust these common assumptions:
- Washers run on 4 cycles per day.
- Revenue from dryers is 50% of revenue from washers.
- Laundromat’s net profit margin is between 35% to 50%
Estimate Value of Laundromat Business from Monthly Income
Enter the monthly income you desire from a laundromat business to estimate the price range / business value of the laundromat.
You should enter the net income after all operating expenses (including lease payments) but before any business loan payment (as if you paid all cash for the business).
Note: A laundromat is typically valued at 3 to 5 times annual income. The price range can vary based on factors such as lease terms (for the store location), age and condition of the coin laundry equipment, etc.
Starting a Coin Operated Laundry Business
The coin laundry business is one of the safest businesses to invest in because owning a laundromat can be a success from the first day when you buy the right store on the right terms.
This is one of the most exciting aspects of the laundromat business because you only purchase a store as a multiple of its PROVEN income. So, when you take over ownership of the laundromat, you’ll at least generate about a 20% return on your money as long as you keep the store open.
Financing a Coin Laundry Business
When you buy a coin laundry business or new equipment for your store, there are usually good financing options.
A laundromat business is one of the easier businesses to get financing for because of the strong historical track record of the laundry industry. Often the seller of a laundromat will even offer financing (i.e. carry back a note) with a small down payment. Otherwise, bank financing is easy to obtain because the laundry business is very stable and the seller can show their track record.
Operating and Managing a Laundromat
Keeping a laundromat open is not that difficult because there’s not that much hard work involved. There are service providers who can do repair and maintenance work on the machines and keep the store clean.
Coin laundry equipment vendors provide you with plenty of help to be successful in this business. The equipment vendors are very invested in your success because they can provide you ongoing service, supplies, and machines.
Best of all, there isn’t any heavy lifting, direct selling, or too many employees to deal with because your customers provide their own labor, pay you with all cash (coins or dollar bills), and already know how to operate a washer and dryer.
If you outsource the maintenance and cleaning, the most work you’ll be doing at your laundromat is collecting and counting your money!