3 Key Steps Toward Starting Your Own Laundry Business

Laundry service is something that fills a widespread need, especially in high population areas. Because of the high demand for laundry service, savvy entrepreneurs may consider opening their own laundry business. If you are considering jumping into the laundry business, consider the following steps to make your dream of owning your own business a reality.

1. Plan for Costs

It goes without saying that there is a laundry list of costs associated with starting a business. However, if you are thinking about starting a laundry service, there are also various licenses you will need to obtain before you start operating. Some of these include a water pollution control permit and a food service permit if you plan to have food offered in vending machines. While the specific requirements for each location will differ, it is important to calculate these costs into your startup budget so that you have enough seed money to get off the ground without a problem.

2. Purchase Equipment

You will want to invest heavily at the outset in researching the best commercial washing and drying machines to dry. This will be one of your largest operating costs, so it is important to pick a model that is known for being durable and reliable. One way to secure a good deal on commercial equipment is to frequently monitor online sale and auction sites. Typically, if another laundry service has gone out of business, they will be willing to unload their equipment at a low price. While it is never a good idea to sacrifice quality for price when it comes to your main machines, you may luck into a great deal just by circumstance.

3. Choose the Best Location

One of the biggest factors in how well your business will do, especially in its first few years, is finding the best location. In general, an area that is accessible to a large population will offer the most opportunity to attract potential customers. While you will want to be sure to avoid opening a store too close to your competition, finding an area around an apartment building that does not have washing and drying machines in the units will likely draw a sustainable crowd. Your location should also have convenient parking so that customers can get in and out of their vehicles without a hassle while carrying their laundry. Typically, a spot with off-street parking will be more convenient for customers.

An additional idea for keeping startup costs low and capitalizing on a prime location would be to buy an existing laundry business. If you chose this option, you would be able to keep the existing equipment, which would save money and time. Be sure to do diligent research first.

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