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#1 |
Making $$$$ w/ ClickCash
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Join Date: May 2003
Location: USA
Posts: 18,037
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NonAdult Business Investment Thread/Discussion
I want to setup a friend with their own business, something that can make him $2,000 a month would be great. I am looking to invest about 40 - 50K cash.
I've been looking around and something that has caught my attention is a coin-op Laundromat. No employees, put in couple change machines, all vending equipment, bunch of security cameras that can be taped and monitored from home, etc... Anyone else own one of these or have in the past, or do you know someone that does. I know I will drop a couple thousand on a plumber for hooking it all up. Will need more hot water heaters, a maintenance company to service them as they break, utility bill will be high, lease will be cheap though(you want to put it in a low income area). Is there anything I am missing ? Cash business so ![]() ![]() I would put in a great location naturally. I know this is key. Some things I really like about it is that it is recession proof. If the economy goes bad the business may go up. More people selling their houses and moving into smaller apartments with no washer dryer. Either way I can't see the coin-op Laundromat industry declining, people have to wash clothes no matter what. (I would hope, lol) I would also throw in a bunch of vending machines, even some cold food vending with microwave, cig machine, arcade games, anything coin-op so don't need employees there 24/7 just someone to check in on it. What do you think, and is there any other ideas that would work better. Please discuss.
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ICQ: 86364801 Email: will [at] innovativeassets [dot] com |
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#2 | |
Confirmed User
Join Date: Feb 2004
Location: Vancouver, Canada
Posts: 7,662
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Quote:
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ICQ: 2262.73945 |
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#3 | |
Too lazy to set a custom title
Join Date: Jul 2002
Posts: 40,377
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Quote:
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I don't use ICQ anymore. |
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#4 |
So Fucking Banned (YEA!!)
Join Date: Jun 2004
Posts: 10,963
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I dont recommend you keep it open 27/7 and "a" employee might be needed.
At min wage for 10 hours a day thats maybe an extra $70 out per day
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Care about me? Who? Me! Who? |
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#5 | |
Making $$$$ w/ ClickCash
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Join Date: May 2003
Location: USA
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Quote:
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ICQ: 86364801 Email: will [at] innovativeassets [dot] com |
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#6 |
Let's do some business!
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Join Date: Sep 2004
Location: Austin, TX
Posts: 31,337
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Don't forget you'll probably have to upgrade the electric system. That can be expensive but I'm sure your $50k will cover it. You'll probably make your money selling things through the vending machine, detergent and such.
Oh, don't fuck the IRS. It isn't worth the risk. They can and will make your life a living hell. Oh, and I wouldn't start a business for a "friend". Its trouble waiting to happen, unless you're prepared to take over operations.
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#7 | |
Making $$$$ w/ ClickCash
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i'm prepared to gift the money to help em out and if it got tossed on me i would hang the closed sign and sell the equipment off. and i've been audited before with no problems, a compentent CPA will let you know what you can and can't do.
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#8 |
HAL 9000
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Join Date: May 2001
Posts: 34,515
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im thinking dvd vending machines
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#9 | |
Making $$$$ w/ ClickCash
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Quote:
adding that to the startup cost list, thanks.
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ICQ: 86364801 Email: will [at] innovativeassets [dot] com |
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#10 | |
Making $$$$ w/ ClickCash
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Quote:
ive seen them in the airports, kinda cool. But some of those movies are so damn expensive. I forget how it all works but they either cost like $20 or $80 depending upon how they were released and their value drops like a rock, so if you dont get your money out of them while they are hot, then it will take years of 1/2 price rentals from the "old" shelf to make the money back. And in a limited space like we are talking about here, the old ones get pulled all together. cool idea though, keep em coming.
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#11 |
Confirmed User
Join Date: Oct 2002
Location: New Jersey - adaptweb at gmail.com
Posts: 3,127
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you can rig the machines so they dont pump out as much hot air, so the customers have to pump in more coins =x
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self made mothafucka. ![]() |
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#12 |
HAL 9000
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Join Date: May 2001
Posts: 34,515
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willy, they work with rental too,actually they are made primarily for rental and people can use their credit card. I know a guy that did that in europe and does some good $.
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#13 |
Let's do some business!
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Join Date: Sep 2004
Location: Austin, TX
Posts: 31,337
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I was at a seminar once and this guy told us how he got started in business... he bought gumball machines. He went around to stores, arcades, service places, etc, and offered them a couple bucks a month (I don't know exactly how much, I think he said $25 but this probably happened 15 years ago) to "host" his gumball machine. Once a week or once a month he would run around, collect his quarters, restock if necessary.
Sounds kind of funny, but I'm sure there are many people with businesses like this. The key of course would be volume and you would need to put in the foot work of meeting and creating relationships with many business owners.
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#14 |
Registered User
Join Date: Jan 2005
Location: Canary Islands
Posts: 56
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If your friend are looking for earning good money, then he should take a closer look on www.coastalscash.com ! Its extremly powerfull and it almost sells its self!
Just a tip!
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#15 |
Confirmed User
Join Date: Oct 2003
Posts: 3,191
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the coin laundry business is OK and will be good for the next 20 years in the USA, with these caveats:
1. it is very location specific, the proper location and demographics is the key. 2. the downside is that the best locations, are not in the best neighborhoods and you will not be dealing with the best class of patrons. 3. someone suggested here hiring a minimum wage kid to be on-site during business hours to supervise, sell soap, dry-cleaning outsourcing, etc. that is good advice. 4. if no-one is on site you will lose your profits in vandalism and sledge hammer theft, sorry for the truth. |
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#16 | |
HAL 9000
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Join Date: May 2001
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Quote:
Lifetime Level1 package $1360.00 USD what kind of shit is this? |
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#17 |
Confirmed User
Join Date: Feb 2002
Location: Somewhere
Posts: 5,859
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You should check out prepaid laundry machines. I don't think coins are the future, I think prepaid cards are. I haven't done alot of research, just my
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#18 |
Confirmed User
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Join Date: Oct 2004
Location: In a refrigerator box by the tracks.
Posts: 4,791
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Visit this website for information on coin laundries and franchise information:
http://nettizen.com/member.asp?id=178 |
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#19 |
Confirmed User
Join Date: May 2004
Posts: 1,327
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My family was in the Dry Cleaning and coin op Laundromat business for over 25 years.
Yes it can be a very profitable business, but there are many things to consider... 1st - You have have greatly underestimated the amount of capital it will cost to get started..quality commercial washers and dryers are signifigantly more expensive than your typical home units. depending on the total number of units you plan on purchasing, 40 - 50k might just barely cover that. 2nd - The plumbing will cost quite a bit more than just a couple thousand, you have to have a large volume water supply/main/meter just to function, then you have hot and cold water supplies with cut off valves for every single unit, drainage which will entail cutting the concrete slab for installation, gas supply for each dryer (you want to go gas because electric units will eat you alive in utility costs), you will also require a small boiler unit, a couple hot water heaters wont cut it, the boiler also requires a gas and electric supply. 3rd - Electrical work will be considerable, you have power to each unit, plus it will generally require a signifigant upgrade from your standard retail store type system. 4th - Change machines - quality units will run around $600-1,000 each or more, and there is something to consider, every time they change the design of our currency, expect to pay for upgrading them to accept the new notes. 5th - It's a huge mistake not to have an employee there during the hours of operation, several things to consider, the 1st is vandalisim and theft, that alone could cost you a fair amount of money to repair/ replace coin changers, slides and the coin boxes. 2nd is the dryers will require daily cleaning of the lint traps. 3rd Washers will frequently overflow, drains will get clogged and hoses break. If any of these things happen in an unattended facility and they flood, you might not know it for hours and not only will it cost you $ for the excessive water loss, if it floods the neighboring businesses you could be in for a big expense in clean up costs, and insurance may or may not cover all of these "accidents". 4th the facility will require frequent mopping and sweeping or the floors, and cleaning of the restrooms. 6th - Fixtures..you will have to have folding tables, rolling laundry carts, interior and exterior signage...etc. 7th - Forget about being open 24 hours, you will do next to no business from midnight to 6-7 am. its not worth the electric utility costs alone. The reality of the situation is expect it to cost you in excess of 100K minimum, also you are much better off in a purpose built facility ie: new retail location that is designed from the ground up to be a laundromat. you have the right idea wanting to be located in a lower income area, but thats not all to consider in you location decision making process, you want to be in an strong area of new or recent construction/ development of low cost homes, rental units and apartments. Older established neighborhoods will not have the customer base you are seeking. I could go on and on..but this gives you something to think about anyway Good Luck |
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#20 |
Confirmed User
Join Date: Jul 2003
Location: The Windy City
Posts: 8,403
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I sat down 6 years ago with some companies offering dryers and washers, and i can tell you 6 years ago 50k wouldnt have been enough to open. There are numerous issues. Like was told above, also you need to have the facility in the ghetto, lots of shit hole apartments. Vandalism will drain you. You think the ghetto trash care about cameras? Look for a different line of investment
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#21 |
Confirmed User
Join Date: Apr 2003
Posts: 2,061
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People say the laundromat is better off in a lower class neighborhood, thats not true.
I go to my local laundromat every now and then when I have to do more than 2 loads. The laundromat is definitley not in the ghetto or even close to it. Alot of people own lots of clothes and don't want to keep loading the washer up all day so they go to a laundromat. 4 loads in a laundromat takes me a 1 1/2 hours at home it would take maybe 4 hours. Also they have double loader washers for blankets that won't fit in a home washer. If you have a clean place you'll make money. Keep a guy around to wipe down the washers and clean stuff. Also i beleive you have to have all your washers and dryers comply with the weights and measures standards every year. So you can't cut the gas down on the dryers for people to pump more quarters in ![]()
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Jealousy... is a mental cancer. ~B.C. Forbes |
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#22 |
Too lazy to set a custom title
Join Date: Nov 2002
Location: Earth
Posts: 14,625
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Don't you make people hundreds of thousands of dollars with your proven web method? Just hook them up to ifriends and let the cash flow in.
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#23 |
I help you SUCCEED
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Join Date: Nov 2003
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That's a good idea. LOCATION is key. I noticed that low to lower middle income areas are great for coinop laundrymats.
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#24 |
lurker
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Join Date: Aug 2002
Location: atlanta
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Are you fucking this friend ????Just give her 2 grand a month much less painful .lol For a business to work it has to be worked , I know a guy who has a very successful laundrymat he or one of his family members are there all the time. He offers his customers free coffee and always has a smile on his face . They do a monster wash and fold service.
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#25 | |
Confirmed User
Join Date: Feb 2002
Location: Free Speech Land
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#26 | |
Making $$$$ w/ ClickCash
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Quote:
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#27 | |
Making $$$$ w/ ClickCash
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Quote:
I don't "make" people money. I help them make money. If I were to "make" them money it would be easier for me to make it myself instead of trying to spend 5 hours a day teaching them everything i learned in the last 6 years. It would be easier for me to make it myself and give them money which i prefer not to do. This person inparticular does not own a PC, i do not have the time to teach them what a URL is and how to surf. I want to set them up and help them run a mainstream business. i know you were kidding so dont take what i am saying as being serious and bitting your head off ![]()
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#28 |
Confirmed User
Join Date: Jul 2003
Posts: 2,868
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tony404, i'd like to speak with you icq me 237842929.
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#29 | |
Making $$$$ w/ ClickCash
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Quote:
I have also been tossin around a little SMALL deli, like a subway,VERY small, like 5 items. People might want to eat while the wait ? Well main idea behind this is I would need to sell food to have a alchol license. I need alcohol license for video poker machines. My state (well most of it) allows you to have video poker machines. So while you are waiting for laundry you can have a sandwich, beer and play some poker... a low incomer's dream one stop shop.... So anyway i do it, if i had an employee there I would want them to be generating revenue from something else not just watching. BTW, it's not a SHE, geesh can't help a buddy out ??
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#30 | |
Making $$$$ w/ ClickCash
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Quote:
Shit maybe i will just build a stip mall and use one of the bays for this, save all the cost of running all the plumbing/electrical ![]() The area i was thinking to put it isn't that bad, on main highway, next to large apartment complexs, couple blocks of them but it is all surronded by middle class neighborhoods... the city has about a murder a year so this is not the getto, but very close to lower income aprts where there is a high demand for somerthing like this. There is an existing laundry mat that is a little further away then where i think i would want to put this, the existing place is old kinda funky, and a little out of the way... My belief, that there is oppertunity. I would want to be a little bigger, little cleaner, little nicer, same or better prices and offfer more services, and everything would be a lot newer. Take their business. I know it is brutal mentality, but i love capitolism ![]()
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#31 | |
Making $$$$ w/ ClickCash
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Quote:
i meant 20 washers and 10 dryers (5 double stack gas), Do you think that is a good ratio? 2:1 washer to dryer ?
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#32 |
Confirmed User
Join Date: May 2004
Posts: 1,327
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2:1 is washers to dryers is ok, it wouldnt hurt to have a cpl extra dryers above that, some people have washers and just come to dry the clothes, especially on rainy days if they use a clothes line...
Another thing to consider is you may want to look into buying a couple large load capacity washers so customers can wash comforters and bedspreads, a lot of people that do have washers and dryers at home will use a laundomat for this reason only, + you can get a little more $ per use.. Also as some have pointed out above, wash and fold service is a good money maker and will keep the attendant busy, (truck drivers and single men make up a large segment of wash n fold customers) also you can contract with a local Dry Cleaners and offer Dry Cleaning service as well, that really doesnt add anything to the overhead, all you need is a rack to hang the orders on for pick up and generally some cloth or mesh laundry bags for the orders as they are brought in. You wont make a great deal profit, but its an added service to offer to your customers. Yes purchasing an existing facility is also an option, just consider the neighborhood, sometimes what happens with laundromats is they lose their customer base after awhile if they are in neighborhoods that are a little older, people tend to use the closest facility to them and as time goes on, people that couldnt afford washers and dryers when they initally moved into their homes finally aquire them and no longer use the neighborhood laundromat. Another thing to consider is the rent to own stores have cut into this timeline a bit over the years as well.. The most important thing to be wary of when purchasing an existing facility is the age of the equipment and potiental maintenance that could add to the real cost of the facility. Also if you have a particular facility in mind, keep an eye on it over a week or 2, drive by, do a customer count or go in and see how many machines are being used at various times through out the day, you might even do a load or 2 of your own and hang out for awhile as well as see if the machines seem to be in good condition. Late afternoons and early eve's are typically the busiest times as well as weekends (saturdays mostly) you will find that young mothers with children tend to show up right after they pick the kids up from school in the afternoon. (not a bad idea to have a TV or 2 on hand to keep the kids occupied...lol) |
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#33 | |
Confirmed User
Join Date: May 2004
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#34 | |
Making $$$$ w/ ClickCash
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Location: USA
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Quote:
![]() What else could you do to make extra income. I always try to incorperate as many things as possible into one thing, if it was up to me, you would go in to do your laundry, eat, get your groceries, get your nails/hair done while you wait, etc.. all in the laundry mat... Here is list of easy/ prartical extra sources of income. folding/washing service drink/snack machine detergent dispensor (coin-op) cigerette machine ???? cooler vending machine with food and provide microwave??? arcade games ??? internet access (credit card swipe) maybe for little nicer area but surfing net and checking email while you wait could be good idea.... ??? any other ideas ????
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#35 |
So Fucking Banned
Join Date: Apr 2003
Location: malta
Posts: 12,745
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I think if you wanted something more unattended.. you might want to do a car wash instead. There are a bunch of small 3-4 bay car washes around me that are totally unattended but make some serious money.
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#36 | |
Making $$$$ w/ ClickCash
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Join Date: May 2003
Location: USA
Posts: 18,037
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Quote:
I have been looking for property to build one for myself... looking at spending at least 200K even for a small one not counting land. For this particular deal I don't want to spend more then 50K... its a buddy an all but 50K is enough to get him going...
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#37 |
Confirmed User
Join Date: May 2002
Location: FLORIDA
Posts: 4,977
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Have you thought about the used car business?
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i buy massive xxx dating traffic. |
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#38 |
Confirmed User
Join Date: Nov 2004
Posts: 4,628
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How about an investent in Bluewire Studio...one of the fastest growing companies in Seattle
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#39 | |
Registered User
Join Date: Jan 2005
Location: Canary Islands
Posts: 56
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Quote:
This is the shit that gives several hundred thousands Directors in US alone 1000USD for every sold membership, and at the same time it gives us the great opportunity to take nice vacations and only pay for local tax and handling fee! Thank you! //GucciGirl
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I make $500 pr. sign-up, as an affiliate How much do you make? |
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#40 | |
Making $$$$ w/ ClickCash
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Quote:
How did you fair from ivan... I lost a condo
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#41 | |
Making $$$$ w/ ClickCash
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Quote:
LOL i was just about to say i dont thnk an mlm would be good for this and i read your FAQ... but like i said this person does not have a website muchless get online so might be hard for them to do directsales. Im sure he could stuff envelopes or what ever else people do for direct sales other then online. but not really what I am looking for here, but thanks anway
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#42 |
Entrepreneur
Join Date: Oct 2002
Location: USA
Posts: 31,429
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I'd be amazed if you can get that going for $50K.
Down side is those are in the low end neighborhoods, so you have security issues to consider as well. I think you'd do better with candy machines or video / poker games in bars. Although the primo spots are already nabbed.
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#43 |
Registered User
Join Date: Jan 2005
Location: Canary Islands
Posts: 56
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Yep, As you could read in FAQ, the program isnt MLM....
And if this person dosnt have an website, he/she can get one free! Just like the www.coastalscash.com website.. He/she doesnt need hosting. It will be taken care of us.. And if he/she doesnt work online, then sell it offline.. Several hundred thousand in US are selling it daily offline... Any questions? Please forward it to my friend and the Director on the site. Thanks.
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I make $500 pr. sign-up, as an affiliate How much do you make? |
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#44 | |
HAL 9000
Industry Role:
Join Date: May 2001
Posts: 34,515
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Quote:
give me a break....... that sites doesnt have traffic at lot..now imagine 1000s directors hah |
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#45 | |
Registered User
Join Date: Jan 2005
Location: Canary Islands
Posts: 56
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Quote:
What is your problem ??? Who is talking about traffic?? Coastal Vacation has been around for 12 years now.. Its a bullet proof system that gives me and lots of other Coastal Vacation Directors cash in our hands and cruise and stay to amazing prices.. So while you are sucking your thumb and palying hot shot, we are making good money and taking cruise to Bahamas for onlye 7USD ;) Thanks and good luck with that attitude!
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#46 |
Making $$$$ w/ ClickCash
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Join Date: May 2003
Location: USA
Posts: 18,037
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Any other non adult (offline) business ideas out there?
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