Equipment and Investment
Commercial washers and dryers generally cost between $800 – $2,600 apiece and typically last 10-15 years. Coin laundries can range in market value from $50,000 to more than $1 million, generating annual cash flows between $15,000 and $300,000.
Estimate the Cost of Machines:
- Top-load washing machines: $500 to $700 each
- Front-loaders: $3,500 to $20,000 each
- Stacked dryers: $5,000 to $6,000
Operating Costs
- The average cost per load at the laundromat: $3-4
- Average cost per load at home: $2-3 (excluding equipment costs)
- In-unit facilities typically offer cost savings over communal laundromat use
Profitability and Revenue
Coin laundries generate approximately $5 billion in nationwide gross annual revenue, offering a 20-35% ROI for owners, making it a lucrative investment with low labor costs.
Starting Your Business
To start a coin-operated laundry business, layout a budget and understand the initial investment needed, including the cost of laundry machines.
Miscellaneous Information
- Speed Queen Commercial Washers: $900 to $2,600
- Whirlpool Commercial Washers: $800 to $1,800
- Cost of using a clothes dryer per load: $1.17
For those considering using a coin-operated machine:
- Visit your bank to get quarters
- Set the machine’s controls prior to use
Avoid damage from foreign objects like coins or keys, which can harm machines. If you need to buy laundry-specific coins, some equipment distributors like Ace Commercial Laundry Equipment Inc may offer what you need.
The cost to wash a load of clothes in the UK in 2020 was approximately 50p, amounting to a substantial annual cost for families. Similarly, it is important to estimate monthly costs, which might be around $24.00 based on two loads per week.
Is a Laundromat a Passive Income Source?
Yes, laundromats can be a source of passive income since they generally don’t require staffing to operate.
Can You Hack a Coin-Operated Machine?
While there might be ways to manipulate coin-operated machines, it is illegal and unethical to hack into them for free usage.