A laundromat investment offers outstanding benefits that alternative investment opportunities simply cannot match. Below are just a handful of reasons why entrepreneurs around the globe have found financial success and independence through investing in a laundromat.
A laundromat offers unique investor opportunities and benefits with which many alternative business investments can’t compete. These benefits include relatively low startup costs, low failure rate and tax advantages that come with an equipment-heavy business. The table below gives you a side-by-side view of how a laundromat investment stacks up against other small business investment solutions.
The hardest part of owning your own business is often just getting started. With Speed Queen, we not only show you how to start a laundromat, we guide you through each step. Implemented by true experts in the industry with vast knowledge and experience of the laundromat investment process, this comprehensive program simplifies turning your laundromat business dream into a reality.
1. Determine Your Compatibility
Before you get too far down the road, take a few minutes to make sure that a laundromat investment is the right alternative investment solution for you. Visit the Owning a Laundromat page for examples of a few questions that will help determine if you and a laundromat investment are compatible. Then, visit the Laundromat Overview page to learn more about the details and benefits of a laundromat investment opportunity.
3. Apply For Financing
The surest way to increase your chances for success is to finance your laundromat business through Speed Queen Financial Services. With personalized, laundry-focused programs tailored to your specific needs, our experienced professionals can put you on the right track for optimum profitability. Get your pre-approval process started now. Apply today.
4. Choose a Location
Speed Queen Commercial Real Estate Services, our team of real estate and laundromat experts, will guide you through the entire process of choosing a location. First, they’ll help you decide whether building a new store or renovating an existing laundromat is best for your needs. Then, they’ll run a demographic analysis on various areas to find the site that best fits the criteria for maximum profitability. If you already have a location in mind for your laundromat business, we can do an analysis on that specific site to determine its potential for success. Speed Queen Commercial Real Estate Services can also help you negotiate the best possible lease and terms.
5. Store Layout & Equipment
Unfamiliar with retail design or commercial laundry equipment? No problem. Our experienced team of Laundry Design Service professionals will design a laundromat layout that optimizes the user experience and creates the best opportunity for maximized profits. We’ll also help you select the ideal equipment lineup from our broad range of reliable, high-performance laundry equipment.
6. Permits & Construction
Most Speed Queen distributors will help you find a reliable laundromat contractor and guide you through negotiations, or you can choose to handle these matters on your own.
7. Open for Business
Now that your new laundromat is ready for business, it’s time for the grand opening. Speed Queen offers marketing assistance that can help you get the word out about your new store. But this is your own independent business, so you are free to market and advertise your laundromat as you see fit. All that’s left now is the revenue.