Buying a laundromat/revenue per machine calculation

[clocker]

I've enjoyed reading through the different threads and it's been very educational. It's definetly helped me in trying to make my decision concerning getting into the laundromat business.

I'm looking at purchasing a laundromat in our neighborhood. It used to be a suds and duds, but the current owner discontinued the suds part. It doesn't appear that the current owners have done any marketing at all. They gross $12,000/month of which $3000 is from wash/dry/fold service. It seems like there is the potential to raise the monthly gross. There are 64 washers and 64 dryers.

Is there an expected gross per machine per store calculation? If my calculations are correct the store is only generating $4.68 per washer/dryer pair per day. (9000/64 machines/30 days)

[Glenn]

9000 per month in coin for that size mat is very weak. Should be at least double. Is there enough business in the area to warrant the big bucks you'll have to spend to get more bodies in the mat?

[pete f]

There is a guy across the street from me doing about $3800/mo and that mat has 45 washers and 40 dryers. The amount of washer and dryers you have has no direct relation to the amount of revenue you will get. There may be more revenue you can get, I would guess it will have to come from the w/d/f side, as most newer mats that have been open a year or more got about all the coin business they are ever going to get. And I do not think you could get 18k a month in coin, if you did someone would build a mat across the street.

[clocker]

There is a large apartment complex adjacent to the shopping center where the laundromat is located as well as several other within a 1 mile radius.

The laundromat used to be a suds and duds, but the current owners discontinued the sale of beer and aren't utilizing the snackbar area. Assuming the coin business is maxed out what is the $ potential from a snackbar?

We have no problem putting current net revenue into advertising if it will bring future returns. What is the single best marketing tool that you've used?

[pete f]

The best form of marketing I ever did was having a clean laundry, followed by a nice sign out front. I have spent about $6 in the last 9 years advertising all my l'mats. Local people go by you everyday, and know you are there, put something in the window or on the sign to entice them to come in, and when they walk in your store should shine. Ads in the paper, flyers, cash registar reciepts, etc does not seem to work very well becuase of the very local customer base you need to reach. The best i remember was someone (Bruce) dropping flyers with a small soap box off on people's doorstep in the area of his mat. Most media does not work well becuse you are spending money on people who are not potential customers.
As for the suds space, you could try suds again. If not, maybe arcade games, snack machines. I do not know about a snack bar, maybe sub lease that out if yu want it. If the mat does not make a reasonbale cash flow now it may not be a very good investment. You should make money on basic coin op, all else becomes gravey.