What is it about Laundromats that captures our imagination? There are TV Shows and Movies about Laundromats. There are even Blogs about Laundromats in the movies. As reported by the Coin Laundry Association, there are approximately 35,000 laundries in the United States, generating nearly $5 billion in gross revenue annually.
It can be a great business for an entrepreneur and coin laundries can range in market value from $50,000 to more than $1 million, and can generate cash flow between $15,000 and $200,000 per year. Laundries are generally a stable business and generally occupy retail space on long-term leases (10-25 years).
Best of all Coin laundries are unique small businesses in that they have no inventory or receivables. Getting the financing right is a big part of making a Laundromat a successful business. Some of the laundry equipment that you might consider leasing includes:
There are many ways today to finance your Laundry Business and Laundry Machines Leasing is a great place to start. Whether you are just getting started with your first Laundromat or a seasoned professional who has many successful Laundromats already up and running there is a leasing company out there for you. If you have a company you like to work with it is important that you compare leasing rates and terms.
Remember Laundromat Machine Leasing often provides a better way to manage your cash and taxes and ultimately allows you to invest in higher quality, more cost effective equipment. For more information on the advantages of equipment leasing read: Why Lease.