Comparing businesses

[catbert]

I'm considering starting a coin laundry business. But I'm also looking at a number of other businesses. So I'm wondering which business would bring the best return on investment. I know that there are lots of factors that would affect ROI, but I'm just trying to understand which business has better profitability vs. investment.

Anyway, in addition to coin laundry, I'm conisdering
- Landscaping
- Carpet Cleaning
- Self-Storage
- Pizza and/or chicken wing shop

What do you think? Thanks for sharing your views.

[phantom]

stay away from carpet cleaning. not enough money for the trouble. and too much competition. since its not a very hard business to start(inexpensive) or operate, it tends to bring in alot of amatuers . who will work for practically nothing to keep a job for themselves, and stay self employed. therefore cutting into the the profits for the legitimate owners who really want to grow into a formidable company.especially if youre in the northeast. but if you take on landscaping, usually if you are consistant, reasonbly priced,and actually show up, you will profit substantially . ,even though it is overwhelmed with alot of amateur owners as well, there is some real money to be made(unlike carpet cleaning) rule of thumb (in nj at least) if you show up , you got the job. sad , but true.

[DuboisLaundry]

if your self storage was next door or behind the laundromat, the attendants could cover eack other's breaks, etc amybe even one attendant for both after you figure out the slowest days. I'ld do it, but I don't have enough land

[pete f]

I'm considering starting a coin laundry business. But I'm also looking at a number of other businesses. So I'm wondering which business would bring the best return on investment. I know that there are lots of factors that would affect ROI, but I'm just trying to understand which business has better profitability vs. investment.

Anyway, in addition to coin laundry, I'm conisdering
- Landscaping
- Carpet Cleaning
- Self-Storage
- Pizza and/or chicken wing shop

What do you think? Thanks for sharing your views.

All business have some sort of profit ratio, return on investment ratio and owner responsibilty time ratio. Personally I like hedge trading, I never have to leave home, only takes a few hours a month and makes about a 15% return on investment. The self storage seem to CAP at 9%, do not know about the others. A decent mat does well for the time and money invested in it from my experiance. If you can buy an existing store for 3-5 times cash flow than you got 20% and better returns. Building new is a risky, read the posts here and elswhere about this subject.

[kbc747]

I own both self storage, mobile stoarge and have a Rv stoarge lot and I own the Laundromat as well as a newspaper and a Bulk and Health food store. To compare the self storage to the laundromat is really like comparing apples to oranges but here are some things to consider about both. Self storage is rented to mostly mobile people and collecting moneys is always an issue. Renters come and go and then there is the cleaning and disposing of left article and people who just leave you high and dry with their junk etc etc. The laundry has issues as well, machines break down, customers abuse, eguipment to replace the investment goes on and on. Mini storage is one time money investment for the most part. As far as which one I prefer as an owner, laundromat hands down. I enjoy the people, the work and the owners in the business much more than that of self storage. Not that there aren't great people in self storage there are, but thier customers will never compare, at least in my market. As for time, my mat is unattended and I spend more time in the mat than the storage each month. For return on investment, the stoarge has it hands down, once it is full which can take years. It is especially sweet when you are full and no one moves in or out for months at a time. Just one piece of advice buy the most expensive highly visable land you can afford and or get buiding permits for. Old school said you could build anywhere, but that is old school and the product is becoming very saturated and you will need every advantage you can get. Hope the rambling helped and best of luck but I vote Laundromat. But then if you asked about mobile storage I would choose that over both mini and laundry because most customers are business or companies, they pay, they understand if they break they pay and you get rent trucking in and out and there is no end to the customers. Best of all they supply the land for the storage and rent per sq. ft. is good. Here is an example of what I mean. Trucking unit in $375. Rent one month $175. Trucking out $375 or about $875 for just one month. Most keep the units for months or years but you could have stuff like this happen more often than you would think. Our RV storage is by the year and the return is okay but you would need 200 plus units to make a good profit here, just not a lot of money in bare land as anyone with a spare lot will copy if you have success. To make it tough on them we paved our lot out and people with the pricer units pay and pay and just park them. Have one unit that is $125,000 plus and it has just sat in my yard for 3 years, Yard is also fenced and lighted and customers are given gate keys to come and go as they please. Hope this helps I will stop rambling now.

[Ken]

I have some laundromats,some whole sale and retail video arcade business,most are whole sale,retail customers are harder to deal,some rental but I STAY AWAY FROM FOOD BUSINESS!