How much do I need to invest?
Your investment depends on many factors, including laundromat size and the amount financed. The average up-front investment ranges from $100,000-$300,000. Speed Queen® financial services lets you finance up to 70% of the total project cost, with a 30% investment requirement.
Should I build a new store or buy an existing one?
Both business investment models have proven successful, and each provides its own unique advantages. Your Speed Queen representative will present you with the pros and cons of each and help you find the right option for you.
How much space do I need?
Laundromats range in size anywhere between 1,000 and 5,000 sq. ft.(10) The average facility is 2,170 sq. ft.
How many machines will I need?
The number of machines you need largely depends on the size of your store. Your Speed Queen representative will help you determine the right number of machines and equipment mix, but in general you’ll want to have a combination of between 40 and 100 washers and dryers.
What should my laundromat’s hours of operation be?
Your business hours are up to you. Typical laundromat hours are from 6am to 11pm, with about 20% choosing a 24-hour model (10). And since most laundromats don’t require a large staff, longer hours aren’t an issue.