I've been a laundromat owner for 20 years; not an easy job; a 4000 square feet laundromat can cost more than one million dollars, so just imagine you have to come up with 30 to 35 percent down payment just to purchase the laundromat, and then you need another 15 percent as a cushion to pay bills at the beginning.
@@badnacho1428 That's what i was thinking, I mean to rent a place half the size, then just buy used washers and dryers and work your way to new ones. The hardest thing I would imagine is picking the right place to start.
Everyone (local owners of different cities) I have talked to. First words out the mouth is “If you can’t work on the equipment yourself then don’t open one” most I have talked to have this name brand but will be going to Dexter. I am still looking into both. NO USED EQUIPMENT was also one many things mentioned.
@Amadeo GONZALES hi how did you get started in the beginning? Would love to know I'm interested in learning more about this business and thank you in advance for your time!!
"Your customers do the labor." That's only partly true. All of the laundromats in my area offer a drop off service. They usually have a minimum weight limit. But you can pay to have them do it for you, if they have full time attendants on duty.
I have a small laundromat, 2 washers 3 dryers, open only 4.5 months each year during tourist season. It is NOT a money-maker because people are so careless and eat up any profits. -Did you notice how the child at 4:43 was playing with & on a clothes trolley? Love how the video stopped before he hit anything. That should bash up a few machines as he dings them while playing... Again - parents just unaware of what their kids are doing and really don't care. -Notice all the positive comments on owning a laundromat by the people who sell the machines? -My new dryer had a handful of sand in it after a load went through new commercial coin-op washer (Speed Queen)- so yes, people just don't care if they are about to break your machines or leave a big mess! Along with that there are bits of tissue, shells, rocks, sticks, Q-Tips, floss, carpentry nails, bits of cigarettes and more pocket crud everywhere although sign asks you to empty pockets and shake out clothes first. -On a positive note about Speed Queen - I do like my new machines so far because they have logical settings (with dial options rather than electronic panel buttons that fry at the first electrical zap). The choices are simple too so people stop setting a regular load to WOOLENS - as is one choice on my older Maytag machines. I can't sigh enough about people coming to the office to complain that the machine mostly did nothing. That is what a WOOLENS option does - soak! Read how to pick the setting on underside of lid and admit you are the dummy instead of complaining/yelling first at someone else. It is not always someone else's fault. -It is not a business where you can just go in once a day to clean up after people and empty lots and lots of coins into your money bag! You need to work for those coins and pay bills. -Water and electricity bills are high (I own my own building and machines, so that is not an added cost to me) and you are stuck with people hanging around for at least an hour and a half for even one load to finish, so you need to supply chairs, tables, & magazines while they wait. It also means supplying a toilet (to clean and keep steady stream of paper supplied), and of course being available in an office close by because people rarely bring detergent or change with them. A change machine is out of the question because of the cost and of course those can break down or are vandalized occasionally too. -Last week I found a machine had been moved forward to get access to an electrical outlet to recharge something. It took me 30 minutes to move it back and line up the dryer venting again since that separated and wet/dry vac out more sand that was blown out back of machine. I have top and side enclosures for machines to prevent getting at outlets but moving machine forward seemed to still be an option. -I have also had people put detergent and clothes in a machine obviously labelled DRYER, so that was fun getting residue out of there. -The coin slides are more reliable than the type where coins roll down channel to box. Finally took out that machine because I was tired to opening it up to remove coins jammed together- big sign to wait for each coin to drop before adding next - sure... people don't read signs. -By the way, these careless folks are the 40-70 age group - not the younger ones. Many of the 20-40 group unfortunately look online to see how to cheat the machines to do loads for free. -Will have to put the video surveillance camera back up and always be in office whenever someone uses the machines. I could write a book on the horror stories of how ignorant people can be. -I have found folks are more selfish, self-entitled, and ignorant every year. Whatever happened to doing the right thing, or caring about anything other than yourself? Yes, I am sure there are some good locations with new machines and nice repeat customers, but realize to have a place like that you need a lot of luck and even more money. The next closest laundromat to mine has only 3 out of 8 machines that work in a dreary dark environment with only cold water. The owner has given up on repairing anything for years now and when the last machine bites the dust, he'll just lock the door. I don't blame him. Do a lot of research before opening a laundromat and do it with your eyes WIDE OPEN. (Sorry about the crossed out lines - must have used some shortcuts.)
@@romella_karmeyThanks. I was able to keep my business (that includes the public mini laundromat) closed this whole season due to the virus. Our remote holiday location was off-limits because of local health and government restrictions so actually got a big rest. It will be like starting fresh again and my mood has improved so I'm ready to be of service to tourists again next year.
Laundromats are a lot of work !!!! This is deceiving! Speed Queen does not make the machines, Alliance Laundry Systems in Ripon Wisconsin is the manufacture. Speed Queen is just the label.
And your clearly uninformed, sure ALL success in any business is hard work, since you don't want to work hard, your not a fit, stay working for someone else.
The video was pretty (and refreshingly) up front about who owns who and who makes what. With that said, Alliance makes virtually EVERY commercial washer or dryer sold in the U.S.--something else the video was clear about. Speed Queen has been around for about a hundred years and make a fine product.
Hey do you have a machine that automatically rolls quarters? What would you recommend link? so i can take rolls to bank I don't want ot hand count them or hand stuff the rolls
if each machine is charging $3 and 3 turns per day, just to round it up let's say $10 per day, per month is $300, to make $39000 per month you will need 130 machines in that laundry place. that's a huge invesment and I don't think they will fit in that place, my best guess is that each machines charges $6 to custumers, still 60 machines is way too much. I wonder how they came up to the conclucion they make 39000 per month.
Machines vary depending on size, plus you also have dryer income and if you provide services like Wash and Fold or Pick up and Delivery you can have three revenue streams. On Avg every person that walks into your laundromat will spend $14.00.
From experience, we know that you can definitely do that in a larger metropolitan area. You can also combine with a wash, dry and fold as an added service.
I want to see a financial statement showing the owner’s salary, and I want to know the amount of time the owner spends in the laundry to generate that salary.
@@jlyp2001 You have to look long and hard. I have 2 properties in my area, 1 gives me 39% and the other 42% or slightly better. These 2 properties took me 2 plus yrs to find. you have to find the right property at the right price with the right expenses, and the right rent. Takes time but they are out there if you look. But I will look at anything that adds up to a 35% or better return. Must be in a class C area with good working class renters.
Power, water, rent & staffing with a small percentage to advertising tossed in. Maintenance is on going & even here in Australia you have people who are travellers as well as those who can't afford the outlay on the washers / dryers. Add a few vending machines as bored customers get hungry / thirsty & bob's your uncle = huge $$$$
I still can`t understand why is this business still effective in Australia... Nearly everybody can afford his/her own washer and dryer... I can`t imagine any new development house with no washer installed or no urban area without individual machines... Every single Caravan Park does have its inner facility... Is this a part of a special culture to collect the family clothes and take it to a coin operated laundromat instead of using the own appliance which is more hygienic, comfortable and... cheaper??? It`s a riddle for me
@@alexanderchuyko4889 I worked with a 409 Visa Employee whom I showed the combo washer / dryer to in a Good Guys ad. He was paying $60.00 to do their laundry at a Laundromat each week. $60 x 50 weeks = $3,000 (you don't wash when you are holidays). When you come to work in suits you need to be presentable. A few people can't afford to rub 2 sticks together but I know they will live day by day.
Even the best laundry machines break down quickly when used daily. you wont have all machines working for more than a week. Youre going to be constantly repairing them
The figures they put on the screen omit costs like gas, electricity, water, TMI, Repairs etc. So that "Profit" of 5000 grand after costs of paying the fees for the machines puts you in the negatives.
@@bobnewhart4318 Depends on your area, what machines you use, your popularity, etc If you're asking these questions, dont ever invest or you'll be throwing away all of your money.... you should know what you're doing
Depends on the size of your store. Modern units are more efficient than they have been in thier past, and if they were profitable then, I can only imagine that it's even more so now.
I am wondering what the future looks like with more and more machines taking away more employment.. And there is talk about at some point in near future, there will be a tax on machines that are generating income, which will help fund a Universal Basic Income. It will be something very reasonable i think.
Yeah human labor will be a thing of the past and we will be doomed to extinction thanks to our own inventions.. It's like parricide. The machines off their parents which is us..
Was Speed Queen already in the Philippines? Laundry business is still young and a booming market in the Philippines. We are over 100M in population means our market is so big.
This business is location dependent. You can't put this up in an area where most people can't even afford food. Or let's say in lower or upperlclass residents in our country, most of them have washers in their home so why spend money on laundromat???
welp in Osijek Croatia we have 2 really small ones,they only have 4 washers and 1 dryer.A 9kg machine costs 25$ and an 18kg one 50$.We usually go there to wash stuff that doesn't fit in our washer
welp in Osijek Croatia we have 2 really small ones,they only have 4 washers and 1 dryer.A 9kg machine costs 25$ and an 18kg one 50$.We usually go there to wash stuff that doesn't fit in our washer
We in europe have them at home. I dont know if there is any laundromat in my country, but we have dry cleaning services for delicat stuff and for lazys. When i was in NY i was useing one and that was fun. Can anyone tell me why Americans use them? Is there problem with washing machine instalation in apartments?
I live in the North East and a lot of older homes don't have a washer/dryer hookup. On a simuliar note, the city I live in is full of three unit multi families and a washer/dryer isn't included in with the apartment (at least not all the time). Washer and dryers are expensive people just use a laundry mat to avoid dishing out the $1200 for a new set
Marwan Bronx why aren't they allowed? That's insane! Every single home in the U.K., regardless of age or size has their own washer and probably dryer too, if not a combined washer dryer. You can buy a basic washer for less than £180, even less for a dryer. For about $400 US you could buy a washer and a dryer, brand new delivered and connected. Why would anyone pay $10 to use a laundry? It's like America is stuck In the 1950's
@@spencerwilton5831 Not sure what Marwan is talking about but almost all apartment complexes in the US have washer and dryers on site to use. Sure most of the time is going to be a community type laundry and tenants still have to pay per load but is not something were you have to go off site to use. These setups are usually in low-end apartments or apartments that were built when washer/dryers were not common in individual units. A lot of the new apartments in the US have their own individual washer/dryer hookups. Laundromats are mainly used by low income families or those living on the streets.
BHP94 I am also inclined to say that this is true because there are a ton of renters in LA and a lot of rentals do not come standard with a washer and dryer.
@@romella_karmey That is assuming that everyone has a place where they can air dry in the sun. My last LA rental offered no outside space in front or behind the building, nor did the unit come with a patio or balcony.
you don't have to buy the expensive washers and dryers you can buy the washers like from your apartments have. there about 300 each used vs the Dexter ones that cost 3500 for the lower grade and 5000 for the upper grade
Yeah I’ve seen industrial washers for 500 buck buying x10 5000 dollar washers and paying rent and utilities and wages would eat in to the profit of the shop
Good luck with your repair cost. 👍 down the road you going to have to replace all those machines because they're not built for commercial use.. not a smart move
If it's so profitable why don't they just open their own laundromats since they are funding them, determining the best location, and making the machines?
I have a gold business opportunity in line with laundry that might be of interest to you..can i please have your email address i mail you the details..it never hurts to listen😊
Yes, you probably only need about 25,000 put a down payment on a business loan for a laundromat that's worth about a $100,000. However, in this video they're lying because they're trying to advertise their laundromat machines. Your actual profit is only about 1,000 a month. Plus any expenses for upgrading machines could be really costly.
@@bbll3729 sure , I hope all is well. When I mean " technology " I mean that manufacturers are creating better washers and dryers for home owners and lets be honest the medium income and rich people don't want to spend time in a laundromat. But nothing is lost probably laundromats business needs to go into a next level , we just need to find the formula. Regards,
@@edithmiranda8484 Hi thank you for the quick response. I think where laundromats can still be viable is if a good number of apartment complexes are build without a laundromat on the premises. And also if the individual apartments don't have washer and dryer hook ups.
BB LL washer/dryers are more common in apartments now. But I think location is key. Your Not buying a laundry in the burbs or “rich” people areas. You make your money in low income areas where people can’t afford a washer/dryer.
For how much money you invest, you don't make much; my friend that cuts hair profits way more than what I profit and without all the headaches of owning a laundromat.
One laundromat will not make you rich and no laundromat owner ever claimed that to be the case. These ppl just want to live casual lives and not worry about the daily hustle and bustle of making someone else rich with a 9-5. If you want to make loads of money, own a few laundromats.
One big commercial/ad for Speed Queen. No thanks. They left out many things you need to know like water costs and electricity costs and gas costs etc etc.
@@dustinjames1268 Blind? You mean deaf, right? So how much are the utilities Mr Smartypants? It's still a giant Ad for Speed Queen and you fell for it, LOL.
@@6977warrior1 The concept is the same where if you dont see something that's blatantly there, you cannot see, and therefore are blind Its mindboggling that I need to explain that to you. It's in the section where it explains how from 12000$ gross revenue you end up with 5000 net Find it yourself if you're that interested, or at least grow a 2nd brain cell, that first one is getting a little lonely
@@dustinjames1268 What an idiot. You fell for it!! LOLOL Thanks for saving me the time for watching a 10 minute video to find a tiny hidden piece of info. You still watched a giant ad for Speed Queen, Haha.
Hello, I want to expend my laundry business in India thru coin laundry. So for that I need machinery details and full project report to understand and start the expension. Also if your company ll provide financial support to me that ll great help to expend my business. Thanks waiting your reply.
This is complete bullshit. Your monthly cash flow is about $1,000 after expenses. And that's not even taking into account machines needing to be replaced as a breakdown or other things like that
Thought America was supposed to be a developed nation? Why do people still use laundromats? In the U.K. Every home, even the tiniest one bed apartments have their own machines. Homes here are smaller and significantly more expensive, yet we find the space. I can't imagine why anyone would pay good money to spend time away from home doing washing when you can buy basic machines for a pittance, they would easily pay for themselves in a few months. The states seem to be stuck in the 1950's.
many apartment complexes in lower income neighborhoods don't have them. lots of neighborhoods in expensive cities also have people living in garages that don't have any either. they are all rentals where they are not allowed to have these installed even if they wanted to. you also have many folks who live in rv's and the homeless people who are big customers of these places. not trying to be judgmental here, just passing off information of the clientele.
oldtwins na Why would you not be allowed to install them though? Seems like a basic amenity. A landlord can't refuse to allow a cooker or a shower, arguably laundry facilities are just as important!
@@spencerwilton5831 There wouldn't be the plumbing hookups? You'd have to install them and this would be prohibited by any lease. Installation of the lines have to be done by a qualified plumber to ensure it meets code, and the water lines are not always easily accessible in apartments where a washer/dryer would be placed. Not to mention, older buildings seldom even have individual water unit shut off valves so the water for the entire building has to be shut off, which the landlord must pay dearly for. There is simply no vested interest in landlord to get this done as it's costly and increases their risk.
oldtwins na it's a lot easier in the UK. Leases are not allowed to impose unnecessarily restrictive conditions, and prohibiting someone from doing laundry would certainly be considered restrictive. We also have the advantage of higher voltage at every outlet, meaning we can plug a washer or dryer in anywhere, we don't require special sockets. Plus, our washers heat their own water, meaning a simple cold connection is all that is required, and this can be installed even without isolating the water supply. An apartment without laundry facilities just wouldn't be of interest here, landlords would soon install at least the basic water and drain connection. Who wants to make a weekly trip to the laundry in this day and age?
@@spencerwilton5831 agreed, but what has already been said is true. Lots of places you can rent don't have laundry or have their own mini-coin op laundry. Plus they are convienent for people who travel a lot, like if you are on a business trip for a week or two. I found it completely retarded that I couldnt' wash my clothes when I was in Europe for half a year. I had to go on an American base's laundromat to wash my stuff, or use my hotels sink.
“Your customers do the labor”
Best business ever
I just opened up a laundry mat in Los Angeles and business is booming great investment glad I did.
What was the start up cost? Any advice you can give me?
@@Gio-zi5lw I guess he thinks sharing advice will put him out of business
How much for monthly bill? Start up cost? Profit?
@@TheDarknessOfGames Judging by the graph at 2:34 on average you're looking at 250k to startup. Rent obviously will vary by size and location.
Tya Haywood - Let me know where to send your check for false hype advertisement.
This looks like a Speed Queen commercial.
wow. you are observant
Yes.. Speedqueen machine
It is
This my dream . When get some money I will start one
my mans
Me too. Good luck to you.
Same here brother , real hustlers invest their money 💯
Me too. I want to buy one. Good luck guys
Quatill Banks how much does it cost to start one?
God bless you and your families.Thank 's for sharing.
Alot to expect for real. Like the price of installing the washers.And not to mention the loan pushers that pop out of nowhere in Florida.
"all cash business" I'm sold
They call it "money laundering" for a reason. :)
I think I'll invest in Speed Queen instead.
I've been a laundromat owner for 20 years; not an easy job; a 4000 square feet laundromat can cost more than one million dollars, so just imagine you have to come up with 30 to 35 percent down payment just to purchase the laundromat, and then you need another 15 percent as a cushion to pay bills at the beginning.
@@badnacho1428 That's what i was thinking, I mean to rent a place half the size, then just buy used washers and dryers and work your way to new ones. The hardest thing I would imagine is picking the right place to start.
Everyone (local owners of different cities) I have talked to. First words out the mouth is “If you can’t work on the equipment yourself then don’t open one” most I have talked to have this name brand but will be going to Dexter. I am still looking into both. NO USED EQUIPMENT was also one many things mentioned.
Amadeo GONZALEZ don’t buy it lease it out
@@LovelyyAubrey do you mean lease the equipment or lease the property?
@Amadeo GONZALES hi how did you get started in the beginning? Would love to know I'm interested in learning more about this business and thank you in advance for your time!!
"Your customers do the labor." That's only partly true. All of the laundromats in my area offer a drop off service. They usually have a minimum weight limit. But you can pay to have them do it for you, if they have full time attendants on duty.
great video!! im thinking abt investing!
this is really well made educational video on laundromats.
I have a small laundromat, 2 washers 3 dryers, open only 4.5 months each year during tourist season. It is NOT a money-maker because people are so careless and eat up any profits.
-Did you notice how the child at 4:43 was playing with & on a clothes trolley? Love how the video stopped before he hit anything. That should bash up a few machines as he dings them while playing... Again - parents just unaware of what their kids are doing and really don't care.
-Notice all the positive comments on owning a laundromat by the people who sell the machines?
-My new dryer had a handful of sand in it after a load went through new commercial coin-op washer (Speed Queen)- so yes, people just don't care if they are about to break your machines or leave a big mess! Along with that there are bits of tissue, shells, rocks, sticks, Q-Tips, floss, carpentry nails, bits of cigarettes and more pocket crud everywhere although sign asks you to empty pockets and shake out clothes first.
-On a positive note about Speed Queen - I do like my new machines so far because they have logical settings (with dial options rather than electronic panel buttons that fry at the first electrical zap). The choices are simple too so people stop setting a regular load to WOOLENS - as is one choice on my older Maytag machines. I can't sigh enough about people coming to the office to complain that the machine mostly did nothing. That is what a WOOLENS option does - soak! Read how to pick the setting on underside of lid and admit you are the dummy instead of complaining/yelling first at someone else. It is not always someone else's fault.
-It is not a business where you can just go in once a day to clean up after people and empty lots and lots of coins into your money bag! You need to work for those coins and pay bills.
-Water and electricity bills are high (I own my own building and machines, so that is not an added cost to me) and you are stuck with people hanging around for at least an hour and a half for even one load to finish, so you need to supply chairs, tables, & magazines while they wait. It also means supplying a toilet (to clean and keep steady stream of paper supplied), and of course being available in an office close by because people rarely bring detergent or change with them. A change machine is out of the question because of the cost and of course those can break down or are vandalized occasionally too.
-Last week I found a machine had been moved forward to get access to an electrical outlet to recharge something. It took me 30 minutes to move it back and line up the dryer venting again since that separated and wet/dry vac out more sand that was blown out back of machine. I have top and side enclosures for machines to prevent getting at outlets but moving machine forward seemed to still be an option.
-I have also had people put detergent and clothes in a machine obviously labelled DRYER, so that was fun getting residue out of there.
-The coin slides are more reliable than the type where coins roll down channel to box. Finally took out that machine because I was tired to opening it up to remove coins jammed together- big sign to wait for each coin to drop before adding next - sure... people don't read signs.
-By the way, these careless folks are the 40-70 age group - not the younger ones. Many of the 20-40 group unfortunately look online to see how to cheat the machines to do loads for free.
-Will have to put the video surveillance camera back up and always be in office whenever someone uses the machines. I could write a book on the horror stories of how ignorant people can be.
-I have found folks are more selfish, self-entitled, and ignorant every year. Whatever happened to doing the right thing, or caring about anything other than yourself? Yes, I am sure there are some good locations with new machines and nice repeat customers, but realize to have a place like that you need a lot of luck and even more money. The next closest laundromat to mine has only 3 out of 8 machines that work in a dreary dark environment with only cold water. The owner has given up on repairing anything for years now and when the last machine bites the dust, he'll just lock the door. I don't blame him. Do a lot of research before opening a laundromat and do it with your eyes WIDE OPEN.
(Sorry about the crossed out lines - must have used some shortcuts.)
Thank you for your honesty it is very much appreciated.
Thank you for the input it was great hearing from an actual owner
I love honest comments like this. I hope you recover from all the stresses...
@@romella_karmeyThanks. I was able to keep my business (that includes the public mini laundromat) closed this whole season due to the virus. Our remote holiday location was off-limits because of local health and government restrictions so actually got a big rest. It will be like starting fresh again and my mood has improved so I'm ready to be of service to tourists again next year.
Great video. Everyone needs clean clothes. The most costly part of getting into a laundromat business is purchasing the machines.
I'm sure you can rent
It would be extremely expensive to wire up a building for all them machines.
Have you worked with a system like ShinePay for payments?
Laundromats are a lot of work !!!!
This is deceiving!
Speed Queen does not make the machines, Alliance Laundry Systems in Ripon Wisconsin is the manufacture.
Speed Queen is just the label.
Doree MacAlvey Do you own a laundromat?
Don't listen to this guy. Listen to Danny D'angelo if you want guru quality info.
And your clearly uninformed, sure ALL success in any business is hard work, since you don't want to work hard, your not a fit, stay working for someone else.
The video was pretty (and refreshingly) up front about who owns who and who makes what. With that said, Alliance makes virtually EVERY commercial washer or dryer sold in the U.S.--something else the video was clear about. Speed Queen has been around for about a hundred years and make a fine product.
Doree MacAlvey who do I contact for speed queen financing?
Hey do you have a machine that automatically rolls quarters? What would you recommend link? so i can take rolls to bank I don't want ot hand count them or hand stuff the rolls
if each machine is charging $3 and 3 turns per day, just to round it up let's say $10 per day, per month is $300, to make $39000 per month you will need 130 machines in that laundry place. that's a huge invesment and I don't think they will fit in that place, my best guess is that each machines charges $6 to custumers, still 60 machines is way too much. I wonder how they came up to the conclucion they make 39000 per month.
MisterNarrador so your saying can make more
Machines vary depending on size, plus you also have dryer income and if you provide services like Wash and Fold or Pick up and Delivery you can have three revenue streams. On Avg every person that walks into your laundromat will spend $14.00.
Very nice business I have to start it.
so interesting, i hope i can have that business here in the Philippines.
From experience, we know that you can definitely do that in a larger metropolitan area. You can also combine with a wash, dry and fold as an added service.
Wow! I've never seen one with all those amenitie.
Where can you buy the machines?
I repeat and repeat and repeat......DO NOT DO BUSINESS WITH STATEWIDE LAUNDRY. THEY ARE THE WORST..........
Hi, how about opening speedqueen in philippines?
good✨
Dear Whitley is this truly feasible, the old job calls, insane hours.
I want to see a financial statement showing the owner’s salary, and I want to know the amount of time the owner spends in the laundry to generate that salary.
At 32% ROI, that's better than real estate Investment!!
your not investing right if you aren't getting 38% and up in real estate
@@markforeman91 if you find any properties that's giving you a 32% CAP, sign me up!
@@jlyp2001 You have to look long and hard. I have 2 properties in my area, 1 gives me 39% and the other 42% or slightly better. These 2 properties took me 2 plus yrs to find. you have to find the right property at the right price with the right expenses, and the right rent. Takes time but they are out there if you look. But I will look at anything that adds up to a 35% or better return. Must be in a class C area with good working class renters.
I would like to enter this.
Power, water, rent & staffing with a small percentage to advertising tossed in. Maintenance is on going & even here in Australia you have people who are travellers as well as those who can't afford the outlay on the washers / dryers. Add a few vending machines as bored customers get hungry / thirsty & bob's your uncle = huge $$$$
I still can`t understand why is this business still effective in Australia... Nearly everybody can afford his/her own washer and dryer... I can`t imagine any new development house with no washer installed or no urban area without individual machines... Every single Caravan Park does have its inner facility... Is this a part of a special culture to collect the family clothes and take it to a coin operated laundromat instead of using the own appliance which is more hygienic, comfortable and... cheaper??? It`s a riddle for me
@@alexanderchuyko4889 I worked with a 409 Visa Employee whom I showed the combo washer / dryer to in a Good Guys ad. He was paying $60.00 to do their laundry at a Laundromat each week. $60 x 50 weeks = $3,000 (you don't wash when you are holidays). When you come to work in suits you need to be presentable. A few people can't afford to rub 2 sticks together but I know they will live day by day.
i think laundry business has low barrier to entry but it's recession proof anyway.
low barrier meaning what?
@@thesudsboss I disagree. It has a fairly high barrier to entry compared to an online business. "Barrier" meaning cost of entry.
love it
Those machine are farrrr too expensive to turn a profit. You'd need to be in a very prime location.
iam interesting in that busennes
Such a great ROI, but yet there are always laundromats available for sale 🤔🤔🤔.
Good observation
They're great but insanely location dependent.
If you cant decipher that out of your facts, you dont belong in the investment world
Andy Ngô 🤔
Bob Newhart how do you contact speedqueen financing?
Dustin James Bob Newhart how do you contact speedqueen financing?
Even the best laundry machines break down quickly when used daily. you wont have all machines working for more than a week. Youre going to be constantly repairing them
The figures they put on the screen omit costs like gas, electricity, water, TMI, Repairs etc. So that "Profit" of 5000 grand after costs of paying the fees for the machines puts you in the negatives.
I want to do that but how about the electricity and water bills?
Thats part of the cost.
@@leggyReid4c I think he was trying to ask on average what's the monthly electricity cost..
@@bobnewhart4318
Depends on your area, what machines you use, your popularity, etc
If you're asking these questions, dont ever invest or you'll be throwing away all of your money.... you should know what you're doing
Depends on the size of your store. Modern units are more efficient than they have been in thier past, and if they were profitable then, I can only imagine that it's even more so now.
@@dustinjames1268 do u have a laundromat business???
yeah yeah speed queen video but still not bad. 9:34 gives a decent summary from what I have studied up on laundromats
gk10002000 who do I contact for speed queen financing?
Ok? What about NZ? Does this all apply to NZ as well? A lot of people watching this arent from the US
Yes of course. I have no idea what hoops you would have to jump through to get started though. Also lower class neighborhoods are best locations.
"Lavanderia El Gringo?" Hahahahaha!
What is the down payment though? How much does the investor need to have on hand to be considered for financing?
As with any purchase, you want to put 10-20% down
@@dustinjames1268 video said 30% capital contribution for Speed Queen Financial.
@@AA5SA
More is always better
Didnt see they require 30, must be to make sure people are serious
I am wondering what the future looks like with more and more machines taking away more employment.. And there is talk about at some point in near future, there will be a tax on machines that are generating income, which will help fund a Universal Basic Income. It will be something very reasonable i think.
Yeah human labor will be a thing of the past and we will be doomed to extinction thanks to our own inventions.. It's like parricide. The machines off their parents which is us..
Thank you.
5:54 less taxes take home is $4,242
Was Speed Queen already in the Philippines? Laundry business is still young and a booming market in the Philippines. We are over 100M in population means our market is so big.
This business is location dependent. You can't put this up in an area where most people can't even afford food. Or let's say in lower or upperlclass residents in our country, most of them have washers in their home so why spend money on laundromat???
Never seen any Laundromats in Europe. We have own washing machine or shared washing machine in basement or other smaller house
mikemer79
yes
welp in Osijek Croatia we have 2 really small ones,they only have 4 washers and 1 dryer.A 9kg machine costs 25$ and an 18kg one 50$.We usually go there to wash stuff that doesn't fit in our washer
welp in Osijek Croatia we have 2 really small ones,they only have 4 washers and 1 dryer.A 9kg machine costs 25$ and an 18kg one 50$.We usually go there to wash stuff that doesn't fit in our washer
Bum mm,.
Idellle
Can I talk to an Account Manager to start my business?
What about dexter?
We in europe have them at home. I dont know if there is any laundromat in my country, but we have dry cleaning services for delicat stuff and for lazys. When i was in NY i was useing one and that was fun. Can anyone tell me why Americans use them? Is there problem with washing machine instalation in apartments?
I live in the North East and a lot of older homes don't have a washer/dryer hookup. On a simuliar note, the city I live in is full of three unit multi families and a washer/dryer isn't included in with the apartment (at least not all the time). Washer and dryers are expensive people just use a laundry mat to avoid dishing out the $1200 for a new set
Because laundry machines are not allowed in apartments. People who have family houses would have laundry’s in their houses.
Marwan Bronx why aren't they allowed? That's insane! Every single home in the U.K., regardless of age or size has their own washer and probably dryer too, if not a combined washer dryer. You can buy a basic washer for less than £180, even less for a dryer. For about $400 US you could buy a washer and a dryer, brand new delivered and connected. Why would anyone pay $10 to use a laundry? It's like America is stuck In the 1950's
@@spencerwilton5831 Not sure what Marwan is talking about but almost all apartment complexes in the US have washer and dryers on site to use. Sure most of the time is going to be a community type laundry and tenants still have to pay per load but is not something were you have to go off site to use. These setups are usually in low-end apartments or apartments that were built when washer/dryers were not common in individual units. A lot of the new apartments in the US have their own individual washer/dryer hookups. Laundromats are mainly used by low income families or those living on the streets.
I would of love to have seen the cost of those machines in a 4,000sqft building
Los ángeles is the best place to open a laundromat
Why? Could you elaborate more please??
@@bhp9415 A lot of immigrants who need to wash clothes
BHP94 I am also inclined to say that this is true because there are a ton of renters in LA and a lot of rentals do not come standard with a washer and dryer.
@@miaminatural lol what's wrong with washing clothes manually and air drying them in the sun??? Is this restricted in LA?
@@romella_karmey That is assuming that everyone has a place where they can air dry in the sun. My last LA rental offered no outside space in front or behind the building, nor did the unit come with a patio or balcony.
you don't have to buy the expensive washers and dryers you can buy the washers like from your apartments have. there about 300 each used vs the Dexter ones that cost 3500 for the lower grade and 5000 for the upper grade
Thats a good idea. And you can work your way up eventually.
Yeah I’ve seen industrial washers for 500 buck buying x10 5000 dollar washers and paying rent and utilities and wages would eat in to the profit of the shop
Most here are Dexter.
Good luck with your repair cost. 👍 down the road you going to have to replace all those machines because they're not built for commercial use.. not a smart move
@@jlyp2001 Exactly
i want to buy this machin how can i get it
I want to start in Bhopal help me
"speed queen" sounds like a great brand
its a name for a legend machine, washer i think
@@mandataruu8685 how about Beko?
I went to setup in bangladesh. so how can buy this machine. any one can me inform.
Wtf! I have never seen a laundry mat with a kids play area, 😩I bet that place makes hand over fist!
Do you work in the UK? I am interested in starting my own laundry here.
But how much.around.is the Start.up Cost?
About $100k - $250k
@@joelscb Damn
😬
Planning to open in pune India...
Any leads will be appreciated...
Find a skilled technician that can service the machines when they break down
Open one in a nice area, with lots of Central, and South Americans. You'll be banking.
Can I open one in New York?
That depends on where NYC - laundry-mats are damn near everywhere. NYS - competition not too much
If it's so profitable why don't they just open their own laundromats since they are funding them, determining the best location, and making the machines?
Because somebody has to empty the lint traps everyday, mop the floor, etc.
Speed Queen and Huebsch have established laundromats in Georgia and they are all doing extremely well.
I wanna start a laundromat but I can’t find the right video😩
Same... everything seems like a click bait
I have a gold business opportunity in line with laundry that might be of interest to you..can i please have your email address i mail you the details..it never hurts to listen😊
@@delamo6474 you can email me I'll listen owens4239@gmail.com
Jiaobe
Will 100k be enough to start?
Yes, you probably only need about 25,000 put a down payment on a business loan for a laundromat that's worth about a $100,000. However, in this video they're lying because they're trying to advertise their laundromat machines. Your actual profit is only about 1,000 a month. Plus any expenses for upgrading machines could be really costly.
is spped queen a company or a l;abel of the machine
Yes.
to many washers for that amount of cycles
My next move
Technology and developing areas are killing the business.
Hello, do you mind elaborating on what technology and development are you referring too? Thank you
@@bbll3729 sure , I hope all is well.
When I mean " technology " I mean that manufacturers are creating better washers and dryers for home owners and lets be honest the medium income and rich people don't want to spend time in a laundromat.
But nothing is lost probably laundromats business needs to go into a next level , we just need to find the formula.
Regards,
@@edithmiranda8484 Hi thank you for the quick response. I think where laundromats can still be viable is if a good number of apartment complexes are build without a laundromat on the premises. And also if the individual apartments don't have washer and dryer hook ups.
BB LL washer/dryers are more common in apartments now. But I think location is key. Your Not buying a laundry in the burbs or “rich” people areas. You make your money in low income areas where people can’t afford a washer/dryer.
Exactly , the problem is when developers chase low income areas
waiting on phone call
skorpyo33 Bob Newhart how do you contact speedqueen financing?
@@P.I.P.E.L.I.N.E_Podcast im pretty sure it was off the website for speedqueen. From what i remember.
For how much money you invest, you don't make much; my friend that cuts hair profits way more than what I profit and without all the headaches of owning a laundromat.
Good point
You said you've been around for 20 years... So it still doing fine right???
Location, location, location.
So, your friend makes more money as a barber than you do as a laundromat owner??
Looking for investors to invest in Liberia
CASH BUSINESS
Do you employ ,I want to work for you
Why don’t I see these owners have Lamborghini or Ferrari’s?
Because people who are actually rich don't waste their money trying to look rich.
Hypno Harlequin yeah but I’m sure there gonna be one or something that love cars and want to fast or always dreamt of getting a lambo or something
They are a bunch they just don't advertise they own coin laundry. These aren't something to brag about owning . @@AKAKILLINGKING
One laundromat will not make you rich and no laundromat owner ever claimed that to be the case. These ppl just want to live casual lives and not worry about the daily hustle and bustle of making someone else rich with a 9-5. If you want to make loads of money, own a few laundromats.
@@hypnoharlequin3546 true
duh?
if i ever won the lottery this is what i would do
The difference between earning money and simply making money.
One big commercial/ad for Speed Queen. No thanks. They left out many things you need to know like water costs and electricity costs and gas costs etc etc.
I'm not sure if the numbers can be trusted but they did go over that... you're blind lol
@@dustinjames1268 Blind? You mean deaf, right? So how much are the utilities Mr Smartypants? It's still a giant Ad for Speed Queen and you fell for it, LOL.
@@6977warrior1
The concept is the same where if you dont see something that's blatantly there, you cannot see, and therefore are blind
Its mindboggling that I need to explain that to you.
It's in the section where it explains how from 12000$ gross revenue you end up with 5000 net
Find it yourself if you're that interested, or at least grow a 2nd brain cell, that first one is getting a little lonely
@@dustinjames1268 What an idiot. You fell for it!! LOLOL Thanks for saving me the time for watching a 10 minute video to find a tiny hidden piece of info. You still watched a giant ad for Speed Queen, Haha.
@@dustinjames1268 You mad you watched a giant ad for Speed Queen? LOL
Hello, I want to expend my laundry business in India thru coin laundry. So for that I need machinery details and full project report to understand and start the expension. Also if your company ll provide financial support to me that ll great help to expend my business. Thanks waiting your reply.
lolololol and you guys sell the machines right...so yeah...it will make money for you lololol
This is complete bullshit. Your monthly cash flow is about $1,000 after expenses. And that's not even taking into account machines needing to be replaced as a breakdown or other things like that
Thought America was supposed to be a developed nation? Why do people still use laundromats? In the U.K. Every home, even the tiniest one bed apartments have their own machines. Homes here are smaller and significantly more expensive, yet we find the space. I can't imagine why anyone would pay good money to spend time away from home doing washing when you can buy basic machines for a pittance, they would easily pay for themselves in a few months. The states seem to be stuck in the 1950's.
many apartment complexes in lower income neighborhoods don't have them. lots of neighborhoods in expensive cities also have people living in garages that don't have any either. they are all rentals where they are not allowed to have these installed even if they wanted to. you also have many folks who live in rv's and the homeless people who are big customers of these places. not trying to be judgmental here, just passing off information of the clientele.
oldtwins na Why would you not be allowed to install them though? Seems like a basic amenity. A landlord can't refuse to allow a cooker or a shower, arguably laundry facilities are just as important!
@@spencerwilton5831 There wouldn't be the plumbing hookups? You'd have to install them and this would be prohibited by any lease. Installation of the lines have to be done by a qualified plumber to ensure it meets code, and the water lines are not always easily accessible in apartments where a washer/dryer would be placed. Not to mention, older buildings seldom even have individual water unit shut off valves so the water for the entire building has to be shut off, which the landlord must pay dearly for. There is simply no vested interest in landlord to get this done as it's costly and increases their risk.
oldtwins na it's a lot easier in the UK. Leases are not allowed to impose unnecessarily restrictive conditions, and prohibiting someone from doing laundry would certainly be considered restrictive. We also have the advantage of higher voltage at every outlet, meaning we can plug a washer or dryer in anywhere, we don't require special sockets. Plus, our washers heat their own water, meaning a simple cold connection is all that is required, and this can be installed even without isolating the water supply. An apartment without laundry facilities just wouldn't be of interest here, landlords would soon install at least the basic water and drain connection. Who wants to make a weekly trip to the laundry in this day and age?
@@spencerwilton5831 agreed, but what has already been said is true. Lots of places you can rent don't have laundry or have their own mini-coin op laundry. Plus they are convienent for people who travel a lot, like if you are on a business trip for a week or two. I found it completely retarded that I couldnt' wash my clothes when I was in Europe for half a year. I had to go on an American base's laundromat to wash my stuff, or use my hotels sink.
Way too many moving parts.
I have a better option. Mail me your clothes I'll wash it and mail it back...15 per load..
lol mail laundry service becoming a thing. I can see this happening :)
You don't sniff my undies ahaaa!
Perfect for laundering your money....
That was s very... clean joke
made in usa equipment, company owned by Canadian retirement plan for teachers? Yeah, i'll buy this anyway more than made in china fuckery
Fam I was thinking the same dam thing
,
Why waste a time on this crap? Buy laundry machine and do it yourself st home, much cheaper and faster.
Lmao what
Idiot
Lol not anybody can afford a lifestyle you have...
@@romella_karmey not always about lifestyle or the wealth to have a washing machine. For some, it’s their time that is valuable. Think about it.
Recession my ass. Till all home get washers and dryers.