How to Buy a 24 Hour Laundromat

At some point or another almost everyone will utilize the services of a 24-hour Laundromat. As a business owner, its almost a sure win business idea. If you plan to purchase a 24-hour Laundromat there are several factors that you'll need to consider including your niche, staffing, equipment and security concerns.

• Look at the competition in the area where you plan to buy the 24-hour Laundromat and capitalize on their weaknesses. For example, if there is a Laundromat located within three miles where you plan to open, and you notice customers often complain about the poor upkeep of the facility, or the lack of televisions to watch while waiting on their loads, you’ll want to ensure that your Laundromat stays as clean at all times and a television in a central area for customers to easily view.


• Determine whether you’ll want to target a particular niche; believe it or not, not all Laundromats are the same. You can offer eco-friendly machines, an entertainment area that has Wi-Fi, televisions or video games.


• Obtain the proper business permits that are required in your local area. Inquire as to whether or not you need an assumed name certificate (DBA), state tax identification number or employer identification number (EIN) that you can obtain from the Internal Revenue Service.


• Purchase any equipment for your commercial laundry facility from a wholesale distributor. If you are buying the facility from someone else, you may want to consider upgrading the current scheme of equipment the Laundromat has. At the very least, you’ll need front and top-loading washing machines and dryers. Also installing a change machine is necessary for your customers.


• Hire a team of attendants that will regularly check in at the Laundromat, clean up and assist customers, if you don't plan on doing the work yourself. Since it is a 24-hour Laundromat, consider hiring a nighttime security officer to help you customer feel safe and protect your property.