I would like to start a laundry mat. How do I go about this. I have about $40,000 to invest. Is this enough?
Where do I get the machines? Do I need any special licenses? I plan on renting the building so, are there any guidelines with that? Could I get a loan if my funds fall short?
Any and all information concerning this would be useful. I live in Branson, Missouri. I have never owned my own business before and afraid I'm an amateur in business. I know there's a demand for a laundromat being there's only one in town and it is a dump! Also, when renting the storefront, what should I look for? How, big? Any special zoning criterias? I'll probably start with about 10 washers and 10 dryers. Which are better washers? Dryers?
I also plan to have a few vending machines as well. 2 soda and 1 snack and 1 gumball. Should I put in a pinball game for the kids too? I also plan on having a laundry soap vending machine. Where would I get supplies to restock these machines? Where would I get the machines themselves?
All answers would be helpful.
Thankyou
Save your money and don't. The other place is a dump because it costs in repairs way more than you will ever realize in profits.
Machines get not only used but very much abused as well. All you are going to accomplish is buying a job that you won't be able to quit. There are much better and way more lucrative businesses available these days with an investment under $5,000.00 dollars with several times higher return than any laundromat can ever bring in.
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Before you do anything do your market research, and if there is demand then approach a business adviser good luck and remember me when you make your first million
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Ryan Dior
Actor/WriterUK
Save your money and don't. The other place is a dump because it costs in repairs way more than you will ever realize in profits.
Machines get not only used but very much abused as well. All you are going to accomplish is buying a job that you won't be able to quit. There are much better and way more lucrative businesses available these days with an investment under $5,000.00 dollars with several times higher return than any laundromat can ever bring in.
References :
30 years in direct sales marketing worldwide; owner of several businesses; entrepreneur; mentor;
don't invest in laundry mat , do some other business that's safer and will bring you money quicker
References :
Go to http://www.score.org/template_gallery.html and download the Excel template for estimating start up costs.
If you need money, you will need to apply for a loan. No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.
Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
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