The thought of customers putting their hard-earned quarters into your washing and drying machines brings a smile to your face. You envision opening a laundromat, but before the doors can open, you must do research to make sure your business venture is a success. The first thing you must realize is your utility costs. Laundromats rely on large quantities of water for washers and electricity to power the washers and dryers. Don’t forget, most Laundromats need gas to provide hot water. Is your new business going to be open 24 hours a day and 7 days a week? If the answer is yes, you need to figure the costs of lighting and air-conditioning in the summer and heat in the winter.
In your mind, your Laundromat runs smoothly, but what happens if one or even several of your machines malfunction? These machines can break down for many reasons. Customers might not follow the rules, and decide to put in heavy loads the machines are unable to handle. Also, your machines are not going to last forever. Wear and tear is the enemy of these machines. Eventually a worn-out part is going to cause a machine to break down. To make opening a Laundromat a success, it’s best to invest in a maintenance contract that covers parts and labor for your machines. If you do not want a special protection play, you should consider putting aside money for repairs.