Laundry is a service people will require regardless of what is happening with the economy, Nguyen explained, plus the business itself is relatively passive so they can manage it around their full-time jobs and other priorities like family, travel and eventually kids.
After scanning various areas and contacting a supplier, the couple ended up choosing a location in a suburban area of Adelaide, about 30 minutes from the CBD.
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The upfront costs were just shy of $300,000 to start up the business, but they started turning a profit relatively quickly. ·
The total investment to start up the business was just shy of $300,000, with the couple “building it up from scratch”, including purchasing washers and dryers, fitting out the space and doing plumbing and electrical work.
While the business was initially a “slow burn”, Nguyen said she was surprised by how quickly things broke even.
“Within that first month, we were turning a profit. We were actually quite surprised,” Nguyen said.
“The flyers did go out a week or so before we officially opened, so we did get a good flow of customers.”
The couple work just four to six hours a week on the business. ·
How much can you earn with a laundromat business?
Nguyen has started sharing breakdowns online on how much her laundromat is earning each month.
In April, for example, the laundromat generated $10,932 in revenue, which included $9,742 in sales from self-serve washers and dryers, along with $1,190 from wash, dry, fold services for a commercial client.
Expenses were $4,609 for the month, which included $2,925 in fixed costs like rent, outgoings, insurance, internet and accounting software, $1,450 in operating costs like gas, electricity and transaction fees, and $235 in other expenses like cleaning and general expenses.
