I want to start a laundromat business, The total amount of the build with machines and all would be around 1.3 mil on the minimum. I was told by an industry vet that the task without a partner can be extremely undertaking. My business plan says I would be able to pay this off steadily. It would involve several pieces of an operation that I know very little about.. but know that deep down in my heart and soul that I can manage.
Im looking for some wise words from people who started off around the same endeavor.
What were your challenges going solo? Would you have preferred a business partner?
What were your heaviest moments of "Im in too deep" ?
Did you quit ? Or fight through?
I was told that a solo business start up for a 1.3 mil build was too undertaking
byu/SuavMode inEntrepreneur
Posted by SuavMode
10 Comments
How long will it take to generate profit at a laundromat with startup costs of $1.3 million? Salary, maintenance, insurance, water bill, coin machines and stocking them, etc. Just doesn’t make sense
I’m looking to buy my first laundry mat sometime early next year and I started doing some light research but from what I see on this forum, most people suggest buying one rather than building.
Just know that the debt is something you’ll have for a while
1.3m is getting you what exactly? What you expecting gm to be?
Once it’s all set up it’s just rinse and repeat
Listen to experienced people not your unsolid thoughts or plans that can stifle you.
Oh man I was looking into this 15 years ago. The main kickers are lease location expenses. Machine maintenance water and power bill.
Do the washing machines cook you a full meal and do your taxes while you wait?
Crazy I just saw this [post](https://www.reddit.com/r/interestingasfuck/s/9h26sdwXkA), go ask him for some partnership.
Don’t do it