There are many things to think about when investing in a laundromat, particularly the equipment and laundry parts from places like Laundry Replacement Parts. Laundry equipment takes up the majority of your initial investment, as you want to make sure you invest in the best equipment that fits your budget. After all, how can you attract and retain customers without the proper equipment?
This would have potential laundromat owners wondering how much commercial laundry equipment costs. To give you an idea, we’ll show you the prices of commercial laundry equipment and other extra costs to consider.
How Much Is Commercial Laundry Equipment?
In general, most laundromat owners require these pieces of equipment to start their business:
· Commercial washing machines and dryers cost $1,000 to $3,000 each, depending on the model and energy efficiency.
· Bill to coin changers cost about $700 to $1,200.
· Chairs and desks cost around $30 to $50 each.
· Laundry soap and detergent dispensers are about $400 to $700
· Laundry supplies to resell. The prices vary, though you can start with a budget of $300
These do not include other extra features and equipment worth investing in for better customer service, such as an iron and ironing board, steam press, clothes racks, sinks, alliance laundry parts, and the like.
A budget of $40,000 to $80,000 for initial equipment purchasing costs is enough for starting businesses. However, some bigger businesses will spend between $150,000 to $450,000 (or more) depending on the size of their laundromat and the sophistication of equipment used.
What Other Expenses Should You Consider?
Besides the equipment, there are also other expenses to consider, such as:
1. Building and Property
The building costs should include the property value and remodeling expenses. If the location weren’t a laundromat before, you’d need to install electrical outlets, sewer access, and water pipes to accommodate the washer’s functions.
In general, a laundromat space would cost between $200,000 to $500,000, with renovations costing around $100,000. Depending on the location and purchasing a functioning laundry business, the costs can be lower.
Fortunately, laundromats will require only minimal attention from personnel. Still, you may need more manpower for cleaning the premises and if you decide to provide wash, fold, and dry cleaning services. While laundromat employees can work for a wage, dry cleaners might require salaries.
3. Licensing and Regulatory
Of course, laundromat owners need to obtain various licenses before opening. Besides the general business license, you might also need to secure a sign permit, water pollution permit, and even a permit from your local health department if you’re planning to serve food and drinks (like from a vending machine)
4. Financing and Investment
If you’re getting your capital investment from loans like in-house financing, you must factor this into your start-up costs. There will be interest rates, depending on the financial institution you lent from, among other factors.
Wrapping It Up
Now that you’re more familiar with how much commercial laundry equipment is, make sure to take all your expenses into account as you create a solid business plan.