For those who are looking to make money by starting their own business a coin operated Laundromat Is a good idea. This is a good idea since persons who live in apartments, on college dorms and residencies where they have limited space will need these services. To increase you're potential to make money you can also add services such as wash and fold or dry cleaning if you have the money for the initial start up or these additional serves can be added the business grows.
To start such a business your first decision will be your location. Location is the most important aspect when starting a business in a bid to make money. Even if your services are cheap if your location is out of reach or is not safe, chances are you will not get a lot of customers. This in turn will not help you to make money. The goal of starting this business is to make money so seek out a location that will generate a lot of traffic into your Laundromat. You will need a space of around 1500 square feet to accommodate the equipment and have enough space for clients to move around and space for a waiting area. You do not have to worry too much about the size as long as it is not extremely small because if and when you get loyal customers that want you to expand they will follow you to your next location.
You do not have to purchase the necessary equipment as this is going to be very costly but if you can purchase this will help make money for you. You can lease or rent them until you are unable o buy. You will need large laundry baskets with wheels, change machines, vending machines for detergent etc. and you will need tables or other surfaces for folding clothes.
Before you open up to start to make money you will need to get a business license and fire and safety permits. These can be obtained at your local department of revenue. You will also need business insurance, general liability insurance and worker's compensation insurance. This may be a jaw dropping mouthful but for any good thing there is a lot of hard work. And the money that you will make overtime will make all the initial troubles worth it.
You will need to determine your hours of operation. You can also wait until later to determine set hours, after you get a feel of what times clients tend to come in and what times are the busiest. This will optimize the amount of money you make. You will have to hire services attendants that will help customers as needed during business hours and will do general cleaning after closing.
Opening a coin operated Laundromat can be a very lucrative business. You just need to plan properly and allow room for growth. Growth means you will make money in excess of what you were making in the beginning.