[CaseyB]

I am looking into starting up a coin laundry. I am just looking for anyone with some information or experience on this type of business. Also, I have about 20,000 to invest in this venture and am wondering if this is a realistic amount of capital to find the rest of the capital.

Thank you for your words of insite

[blah23]

Hey,

I dont know much about the business. But i suggest thinking of it as a long term investment in real estate. If you can pay the mortgage each month with money from the laundry you should be able to create ood long term wealth as the value of the real estate grows

[KenyanEntrepreneur]

Am excited to see someone who we have something in common.I have always wanted to start a laundromat here.There in nothing like that here.Start up capital has been my major draw back.I have done abit of a research into the business and i think its worthwhile for me to share this with my fellow YE.
Ask your self the following Qs:
· Are you suited to this type of business?
· What formal training do you need?
· Who are your customers likely to be?
· Who will you be competing against?
· What are the key issues affecting the market?
· How can you promote this enterprise?
· What start up costs can you expect?
· What are the legal issues to consider?
You can also look at this site which i found very resourceful especially the FAQs http://www.macgray.com/la5_faq.html
enjoy.

[sam12]

Talk to owners of that kind of business you'll be surprised how much welth of info they'll give you for free.

Do a research for about 3 months then you can jump in.
Good luck.

[brianbrb]

There are two great paths to wealth; one is through investing and the other through business. Of the two, the fastest way to improve your cash flow is without a doubt through owning a business. The problem with most businesses is that they require full time attention. You want to get ahead but don’t have time for another full time job and let’s face it; most people already have a full time job or business.

There is a business that once set up, can be run part-time. That business is a coin laundry, better known as a Laundromat. I personally own several stores and spend between 3 to 5 hours a week per store running them. It is one of the few businesses that I know of that you can truly run part-time.

If you are looking for a small business or just want the cashflow, it is a great way to go. There are lots of benefits of owning a Laundromat but the best one is that it is an ALL CASH business! It is an easy business to run, but a hard one to find, at least one that makes sense. In fact, I would say that finding one is the hardest part about this business. My website BuyALaundromat can help. This site offers a Free Coin Laundry Teleseminar and the Laundromat Success Newsletter for those looking to find and evaluate just the right store. Please take a look if, an all cash, part-time business is something you are interested in.

Brian

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Originally Posted by CaseyB

I am looking into starting up a coin laundry. I am just looking for anyone with some information or experience on this type of business. Also, I have about 20,000 to invest in this venture and am wondering if this is a realistic amount of capital to find the rest of the capital.

Thank you for your words of insite

$20K to invest, and your choice is a coin laundry business? Why?

I can think of a number of things on my "to-invest-in" list higher than a coin laundry business.