New machines may initially cost more, but you will also know the entire service history. However, be aware that used machines may not come with reliable or accurate service records. Get “like new” machines that have been well-serviced and you can save yourself some money and lower your startup costs. If you’re starting out of your home, you can start with little to no money upfront.Įxpect total startup expenses for a small business outside the home to be between $100,000 and $250,000.Ī big part of the startup cost is the machines. For example, buying a laundromat in California, Florida, or New York may be much more expensive than buying one in Idaho or Alabama. Also, some states are inherently more expensive than others.
Depending on the location, it can cost you between $100,000 and $200,000 to buy an existing business or it can cost up to $1 million or more.īusinesses you buy in larger cities tend to cost more. What are the costs involved in opening a laundromat?Ĭosts for starting a laundromat are significant. It's very important to secure your domain name before someone else does. When registering a business name, we recommend researching your business name by checking: If you operate a sole proprietorship, you might want to operate under a business name other than your own name.
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If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Laundromat Name Generator What will you name your business?Ĭhoosing the right name is important and challenging. Luckily we have done a lot of this research for you. What are the startup and ongoing costs?.It will help you map out the specifics of your business and discover some unknowns. STEP 1: Plan your businessĪ clear plan is essential for success as an entrepreneur. Exploring your options? Check out other small business ideas. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
We have put together this simple guide to starting your laundromat.
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