Apartment Laundry Equipment
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Apartment Laundry Equipment business.
Many apartment and condominium buildings are constructed without laundry facilities within the residential units. Most of these buildings have a shared or common laundry room that is generally used by all the tenants of the building. You can start your own business that not only installs and services rental laundry equipment, but also retains a portion of the rental revenues. To launch this type of enterprise you will have to build alliances with landlords and property management firms. Laundry room equipment contracts are often tendered to contractors every few years. Starting now to prepare your business will enable you to not only tender for these very lucrative contracts, it will also allow you to establish your business immediately upon being awarded a contract.
start-up costs: Coin-operated laundry equipment retails for about two to three times the amount of residential laundry equipment. A typical laundry room with three washers and dryers will cost in the neighborhood of $8,000 to $10,000 to outfit properly.
profit potential: Profit potential will greatly depend on the number of people residing in the building. However, the industry average is $500 per laundry machine per residential unit per year.