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So I’ve been toying with the idea of opening a laundromat in my neighborhood — there’s none within a decent walking distance, and I feel like there’s real potential here. I’ve got a rough business plan, even found a location I’m keeping my eye on, but now I’m trying to wrap my head around how to actually finance the whole thing. I’m not sure if a traditional bank loan is realistic in my case, and I’ve never gone through SBA options either. Has anyone here started from zero and managed to get funding for a laundromat? Would love to hear what worked and what didn’t.
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I went through this process a year ago when I opened my first spot. I didn’t go the bank route because they needed a ton of paperwork and collateral I didn’t really have. Instead, I looked into more flexible lending options that are geared specifically toward laundromat owners. If you’re serious, this page really helped me understand how to get financing for a laundromat
— it breaks down the pros and cons of different types of funding, and gives you a decent idea of what to expect before applying. I ended up going with a lender that offered fixed daily payments, which worked out okay since cash flow is pretty steady once you’re up and running. -
Interesting thread. I don’t run a laundromat, but I always wondered how they actually get started, especially with all that equipment and infrastructure. Seems like a big upfront investment. Definitely respect the folks who take that leap — it’s not a small decision.
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