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Coin-operated machines are the most conventional choice for laundromat businesses. However, they can sometimes pose security risks. Lock-picks and other mischievous customers may find ways to get free wash cycles, or steal all the coins from some of your machines.
Coin-O-Matic has been supplying laundromats and supporting their success since the late 1950s. As one of the oldest commercial laundry equipment dealers in the United States, no other distributor has the experience and commitment to the success of its customers as we do.
Family owned and operated since 1921, Coin-O-Matic provides commercial washer and dryer solutions and coin operated laundry equipment for multi-housing facilities, businesses with on-premises laundry needs and laundromats. Whatever your laundry equipment needs are, the team at Coin-O-Matic has the equipment, products, service, and support you need. Simply put, Coin-O-Matic is your #1 resource for commercial, coin, and credit card operated laundry equipment.
We have the laundry equipment solutions for multi-housing property managers, laundromat owners, business owners with commercial and industrial laundry needs, and investors looking for new business opportunities. Please contact Coin-O-Matic in Alsip, IL today as we are here to serve you.
The laundromat business model is straightforward: this is a place where people go to wash their clothes. Typically serving lower-income renters who may not have washer-dryers at home, laundromats are a fixture in the neighbourhood, with 87% of customers living less than a mile away.
First things first, you need a location! An average laundromat is 2,170 square feet. Depending on where you are, this will cost between $200,000-$500,000, and could be as much as $1 million or more.
Keep in mind that with sole proprietorship, there is no legal distinction between you and your business. For most small businesses, an LLC can provide the most protection, making sure you are not personally held liable if your laundromat is sued.
Consider the concept and brand of your establishment. Will it be a 24-hour laundromat or run only during daytime hours Will it offer full service (you do the washing/drying/folding), or be fully self-service, with no attendants at all Will it be a hybrid model, such as a laundromat-cafe This will determine how you advertise your new business and who your key demographic is.
An average gross income of a laundromat in the USA varies greatly, from $30,000 to over $1 million a year, according to the Coin Laundry Association. Once expenses are factored in, at the higher end the net profits could be as high as $350,000 a year.
However, managing on-premises laundry requires investments in resources, including employees, time, utility costs, and most significantly, on-premises laundry equipment. A business that is considering implementing on-premises laundry systems or upgrading existing commercial laundry equipment is faced with a difficult decision: to purchase or to rent
Buying on-premises laundry equipment is a one-time purchase, and can be claimed as a business asset and depreciated accordingly. There is less paperwork to complete, and buying may be more cost-efficient as a long-term investment than renting.
However, an upfront purchase can be expensive, as can maintenance and repairs. When deciding whether purchasing or renting laundry equipment is the best option for your business, you may want to consider:
Depending on the size of your operation, purchasing on-premises laundry equipment may require a large capital investment to get started, but can lead to savings in the long-term. For companies where budget is a concern or cash flow is restricted, renting commercial washers and dryers requires a minimal investment at the outset and a relatively small, predictable monthly payment thereafter may better suit your needs.
Renting often allows a business to replace outdated equipment with upgraded machines during the term of the rental, ensuring that your business has access to the most up-to-date and efficient equipment on the market.
Few businesses have quite the same relationship with their equipment as laundromats. Essentially, your equipment is almost the entire draw of your business. Customers will be regularly paying you to directly utilize your equipment, so it goes without saying that you want to spend a lot of time thinking about your equipment purchases.
The Small Business Administration can help new businesses that may not otherwise qualify for competitive loan rates and terms to get them. The two most popular programs, 7(a) and 504, can both be used to purchase equipment. The term lengths offered by these programs can spread the cost of your equipment out over a long period and give your business time to mature. Just be aware that applying for SBA loans is an involved, time-consuming process.
If you or someone you know is looking to acquire high-quality, reliable, and dependable washers and dryers for their laundromat services, we can help. We strive to provide all of our clients with all of the services they need to ensure their machines keep running. To learn more about our services, call the Maryland laundromat equipment leasing specialists at Fowler today at (800) 334-1824.
We know leasing is often the preferred option for our clients looking to upgrade their business or provide their clients with the latest in laundry services. We know purchasing laundry equipment has its advantages. However, there are advantages to leasing your laundry equipment from Fowler. Some of the benefits you can get from our leasing program include the following:
Fowler Laundry Solutions prides itself on its commitment to excellence and our customers. Thanks to our decades of experience in the laundry solutions industry, we can provide our customers with state-of-the-art equipment. We have a business partnership with LG and Continental Girbau. This business relationship allows us to lease and distribute high-quality, reliable, and durable laundry equipment.
Sometimes washing machines and dryers can break or wear down. For this reason, many business owners may fear that their businesses may not be able to stay profitable in the long run. However, this is not the case with our machines. If there is a technical, mechanical, or electrical issue that cannot be solved on-site, our company will replace the damaged equipment with a new one. This way, you can ensure that your business keeps running and stays profitable all the time.
Leasing or renting your equipment can be an excellent choice if you are looking to avoid a significant upfront expense, get service from your leasing company, and avoid the stress and costs tied to maintenance and repairs. Fowler Laundry Solutions leases state-of-the-art laundry machines for your business, hospital, apartment building, or university. When you lease our machines, you will be backed by our professional services and warranty. You can ensure that your clients will be taken care of while providing them with the best machines in the industry. By leasing Fowler washers and dryers, you can keep your business profitable and running without complications.
Our Maryland laundromat equipment leasing professionals from Fowler Laundry Solutions understand how important having fully-functioning equipment is. That is why we ensure that all of our customers get the quality, reliable, and durable washers and dryers your business needs. We know how challenging and stressful your situation can get if you cannot have a running laundry. That is why we strive to provide you with the equipment and the services you need to avoid stressful situations with your laundry service. To learn more about our services, call our offices today at (800) 334-1824.
Leasing equipment when you are in a pay-for-use business means you are still paying the leasing company every month. This will cut into your profits. Of course, if you do buy, you will want a good warranty and customer service situation.
There is less paperwork and complications when you buy your commercial laundry equipment. Plus, leasing may also require a lot of banking information, credit scores, and you may get refused or need a guarantor.
Which method you choose will be down to your situation, the budget you are working with, and the type of business you need the equipment for. Buying the machines makes sense if you are making money from them.
Why not give us a call. We can help you work out which method will work best for you. RJ Kool has been supplying equipment to commercial laundries for the past 30 years. From very large 900+ plus washer-extractors with automated loading and unloading capabilities, no laundry is too large or small.
Our top-notch line of commercial laundry equipment includes Maytag, Whirlpool, and Speed Queen coin operated washer and dryers. We offer commercial washing machines, dryers, and stackables depending on your needs. Come to us for your complete commercial laundry solutions.
We take pride in our personalized service, from laundromats to multi-family housing units. When you need to buy a laundromat washing machine in Florida or a few units for an apartment building, you can count on the high quality of our laundromat equipment and customer service. Your satisfaction is our number one concern.
Whether you want to buy, lease, or rent commercial laundry machines and equipment, we have plenty of options available. Both new and refurbished used commercial washers and dryers are available. Contact our team today to go over your options and get an estimate.
To lease or buy commercial laundry equipment That is the question. There are many benefits of renting commercial laundry machines versus buying your equipment that you will want to consider before making your big decision.
First, you must decide which is the right choice for you, your facility, and the level of involvement you would like to have. Both options come with different amounts of investment of time and money. When you own your equipment, you will have complete control over your machines and their upkeep. The benefits of renting commercial laundry machines come with the low initial costs and the support you will receive from your supplier. Here at Commercial Laundries, we can guide you in the right direction for the long run. 59ce067264