I finally saved up enough money to buy a coin laundry! I have an agreement with the owner of an apartment building. I get all the income if I work with him every Saturday. I am not expecting much, but I may be able to pick up some neat coins, and if I don't I will still be making a small amount on the side.
Good luck with your new venture. Just curious, if you bought the business why wouldn't you be entitled to all the proceeds every day?
Not a whole business (I am just 14), just a machine. I get all the income, I just work for him every Saturday because I don't pay for the water or electricity
Congratulations. Work it hard. Make it the best machine out there. Your parents should be very proud of you.
Not sure, I think it is factory set a $1.75 each load I am supper lucky to have great parents! It is what they use in launderettes. You pay $1.75 in cents to wash and/or dry cloths
That's an interesting deal - you should expand and 'buy' the dryer, too - you'll have a source for lots of 'dryer coins' and other miscellaneous left behind items
I am so glad to see a teenager who is not afraid of a little work. Most kids these days don't have enough initiative to do what you are doing. Best of luck in your new venture, and I hope you make your parents proud!
@Arkos Start setting aside your first couple hundred dollars for future maintenance costs you don’t want to have to fix your machine out of pocket. Also check the operating costs of other machines in your area so your not giving away money, you and your partner might have to up the cost per load to match other people’s machines. You don’t want to give away money! Good luck in your new venture. Reed.
In a full laundry scenario, after paying rent, utilities, insurance, maintenance, other expenses (salary, advertising, etc.) sometimes there's money left over and sometimes there isn't. You end up working more for the landlord and the utility company than for yourself. I looked into a coin op in the 90's but the accountant said it was a bad deal and I didn't pull the trigger. I realize this is a different scenario and I hope it works out for you.