There are many benefits to owning a laundromat – and many reasons partnering with Mac-Gray can make your facility a success. First of all, it’s a cash business that requires no franchise fees, very little inventory, and minimal time and labor. In fact, many owners run their laundromats part-time. Customer demand and cash flow are both relatively consistent; in good times and bad, everyone needs clean clothes! That’s why coin laundries are consistently cited by experts as one of the safest investments for entrepreneurs.
Before you can reap these rewards, you need to make informed decisions about location, laundry equipment, financing, etc. – and that’s where we come in. Our advice and expertise have helped many laundry entrepreneurs achieve great success. We’ll do the same for you. Contact us to start planning your new business today!
We’ll bring the expertise you need to navigate every aspect of opening your new laundromat. From finding the best possible store location, to choosing among our flexible finance options, to outfitting your laundromat with the finest equipment, Mac-Gray can help you make the right decisions at every step. Over the years, we’ve helped countless owners get their businesses up and running.
Mac-Gray is your source for:
We can provide all this and more!
Find the best store location. Let our site-selection experts study the demographics of your area to identify the best possible location. With a thorough demographic study, we’ll determine factors such as:
Create a striking appearance. Your facility’s design can either keep your customers happy or drive them to the competition. They want a clean, safe, efficient, convenient place to do laundry – and your store’s look and personality can go a long way toward portraying the right image. Our consultants have long experience designing and renovating all types of laundry facilities. After analyzing your customer base, they’ll work with you to create an appealing environment that differentiates your store from the competition.
Make the right “leasehold improvements.” These are modifications that must be made to your facility before equipment can be installed. As you take this critical step, Mac-Gray can provide expertise in areas such as:
We offer a range of excellent financing alternatives. Whether you’re building a new store or remodeling an existing one, we’ll help you understand your options and make an informed choice. You may prefer the predictability of fixed rate loans, the flexibility of variable rate loans, or the value of a lease option. Whatever you decide, we’ll direct you to the best source. Here are some key points to keep in mind.
Is Mac-Gray a franchised operation?
No, and there are no fees or monthly payments. If you’re an entrepreneur ready to chart your own course, we’re here to help you establish your own successful laundry business.
How much financing is required to open a store?
You will need at least $50,000 in non-financed cash. While size and location determine total costs, start-up costs in our experience run from $80,000 and up. We can help you arrange the financing you’ll need.
What makes one Laundromat business succeed and another fail?
Location is the most important factor. As a result, Mac-Gray will work very hard to help you select a prime location, ideally within thirty minutes of your home. Our site-selection experts will review an area’s demographics; determine the number of people moving in and out; analyze local traffic patterns, parking availability, and number of renters; and provide any other data you need to make a truly informed decision.
Appearance is another key. Our consultants bring great expertise in the design and renovation of all types of laundry facilities – from the mechanical infrastructure to the décor. They’ll work with you to create a great-looking facility that runs with optimal efficiency.
What are the advantages of owning a Laundromat business over other types of businesses?
Here are five big ones:
If I have no business experience, will I be able to learn it - and how?
As long as you follow certain fundamentals, the laundry business is relatively simple to master. Mac-Gray’s consultants can provide the information you need to learn the basics.
If I decide to invest in a Laundromat business, how much capital and reserve should I expect to have?
The minimum required down payment is one-third of total store costs. Total store costs vary depending on the size, location, type of building and utilities. Your net worth should be at least two times the total loan amount, if applicable.
How much time would I have to devote to the business?
Usually 10-15 hours per week.
What kind of return can I expect from my investment? Are there tax benefits?
While the success of your business depends on how well you manage it, the capital investment is usually recovered in less than three years. Tax benefits are commensurate to your personal yearly income. If you are in the 30% personal income tax bracket or higher, the tax benefits are extremely good.
How much will it cost to equip a store with washers and dryers?
Mac-Gray will need to provide a feasibility study of your location to provide an accurate equipment package cost. Location, demographics, site layout, equipment size, water heaters, water storage tanks, plumbing, exhaust venting, and other variables all contribute to the total cost.
What are "leasehold improvements?"
These are the changes that must be made to the location before equipment can be installed. They often include plumbing, electrical wiring, sheet metal, and other factors. The average cost of these improvements will be approximately 40-45% of the total investment.
What is "drop-off" service?
This is a service offered to customers in fully attended laundry stores, where the customer drops off laundry for the attendant to wash, dry, and fold. Normally there is a ten-pound limit and the charge ranges from $.85 to $1.10 per pound, depending on the market.
What are impact fees and how do I find out if they’ll affect my new Laundromat?
These are fees imposed by the city for development projects connected to the city’s water, sewer or irrigation system. Not all cities impose impact fees; call your city council or go to your city’s Web site.
We provide entrepreneurs with unsurpassed assistance in all aspects of laundry development. For details on the current laundromat business opportunities that are available, simply complete and submit the form below.
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We currently offer opportunities in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.