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I'm doing some very long-term planning. I'm 40, and when I turn 55, I'd like to switch off the corporate IT job ladder and have a job that keeps me busy without butts in seats at all times. I had to wash a blanket, and it said commercial machines only, so I took it to the laundromat. I realized that I'm handy enough with repairs and hand tools that I might be able to do some of the maintenance myself, given that commercial machines are probably meant to actually get repaired with actual parts and a minimum of computers. I'm not too keen on doing the wash-and-fold service, so part-timers it shall be (and the wonders of workers' comp, scheduling, etc.). I can start saving and investing a little more beyond my current retirement accounts to buy an existing laundromat if the opportunity arises. I'm curious if any goons have looked into this sort of thing - before I get serious, I want to at least make sure I get realistic expectations. There's bound to be weird and bad stuff - I can't imagine any part-time job is easy to fill with reliable people, and that wages are definitely going to be higher in the future when this happens - but as a semi-active "keep me busy and occupied doing something not corporate with the occasional get your hands dirty fixing things" job, it doesn't sound half bad, even if I don't make too much off of it. I'd be happy if it supplements my retirement income a little until I start pulling Social Security at 65/67. So yeah, tell me about laundromat-running shenanigans, good and bad alike.
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Dec 8, 2022 21:39
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I had a neighbor whose family owned a relatively small coin laundry- about 16 washers and 16 dryers. I helped him update the plumbing and electrical when they bought it and over the years got a decent sense of the operation. Being able to handle maintenance and repair of the machines was critical as early on he had to hire people which was unsurprisingly pricey, but he learned pretty fast how to keep them running. It was in a great location, a working class neighborhood with a lot of renters so it was always busy, but this also necessitated an attendant on the premises at all times. If he didn't have relatives he could rely on and pay under the table for this, and if his accounting was not so creative in general, it would have been a lot less lucrative. Other challenges included dealing with people (homeless, etc.) hanging out inside all day, people washing things that caused issues such as large bags of greasy rags and load after load of pet hair-infested blankets, and customers occasionally being robbed, which is of course location-dependent. Another business that brings in crazy revenue in my area are those coin-op car wash joints, with many of the same caveats mentioned above.
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Dec 10, 2022 19:33
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I think operating a very low margin cash-based business like a laundromat might work better if it's just a front for money laundering and doesn't actually need to make money, so maybe look into that op.
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Dec 11, 2022 17:19
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If you open either one, have two change machines, and two bill validators and hoppers for each. Big part of our rush orders at my job is laundromat or car wash operator suddenly discovering they have no way to take money.
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Dec 13, 2022 00:33
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I remember watching this randomly suggested video and thinking it didn’t sound that fun: https://youtu.be/2_LhGJG1Bak
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Apr 15, 2023 17:10
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