Laundromats typically make anywhere from $5,000 to $25,000+ per month in income. The actual income of a particular laundromat depends on a variety of factors, including size, location, population density, local competitors, and more. Estimating the income of a particular laundromat is simple to do.
How to Estimate the Income of Any Laundromat
1. Calculating Washer Income
You can get an estimation of any laundromat's income with a fairly simple math equation.
[# of washing machines x vend price x turns x days in the month = estimated income]
"Turns" refers to the number of times, on average, a machine is used each day. The average turn per day is around 3, so we'll use 3 to estimate our income. I also use 30.4 as days in the month, as that's the average number of days per month (365/12).
If you want to estimate the washer income of a laundromat, you'll need to gather the 2 missing variables in our equation: the number of each size of washing machine and the vend price of each size of the washing machine. Let's look at an example.
Say you do some recon work on a laundromat and find out that a laundromat has 10-20lb washers, 6-40lb washers, 4-60lb washers, and 2-80lb washers. The vend prices are $3, $5, $7, and $9, respectively. Here's how we would calculate the estimated washer income:
10 x $3.00 x 3 x 30.4 = $2,736
And when we extrapolate that out to all washing machines in our laundromat we can estimate our total income from the washing machines to be about $9,666 per month.
2. Calculating Dryer Income
We're able to simply calculate an estimate of the dryer income using the washer income that we calculated above. The typical dryer income is usually between 33% and 50% of the washer income. In most cases, I use 33% in my calculations as I find it generally more accurate. Our estimated dryer income, then, is:
$9,666 x .33 = $3,190
3. Estimate Total Income
Now that we have our estimated washer and dryer income, we can estimate our total income. In our example, our estimated income of the laundromat we're considering is
$9,666 + $3,190 = $12,856
I want to emphasize that this is an estimate, but it will give you an idea of how much money a laundromat is making. Now you know how to estimate any laundromat’s income quickly and easily!
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