Coin Laundry!

Discussion in 'Coin Chat' started by Arkos, Dec 8, 2019.

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  1. Arkos

    Arkos Member

    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.
     
    Chuck_A, Kasia, Kentucky and 12 others like this.
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  3. masterswimmer

    masterswimmer Well-Known Member

    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?
     
    LaCointessa and Inspector43 like this.
  4. Arkos

    Arkos Member

    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
     
    Chuck_A, Kentucky and masterswimmer like this.
  5. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    Sounds like a solid investment. How many days do you expect to take for the purchase to pay off?
     
  6. masterswimmer

    masterswimmer Well-Known Member

    Congratulations. Work it hard. Make it the best machine out there. Your parents should be very proud of you.
     
  7. paddyman98

    paddyman98 Let me burst your bubble! Supporter

    Interesting.. What is it?
     
  8. Arkos

    Arkos Member

    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
     
    paddyman98 likes this.
  9. buckeye73

    buckeye73 Active Member

    We have a young entrepreneur in our midst!
     
    Arkos and UncleScroge like this.
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    Please give us a few details will ya? Lol
     
  11. juris klavins

    juris klavins Well-Known Member

    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 ;)
     
    Arkos likes this.
  12. 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 likes this.
  13. 352sdeer

    352sdeer Collecting Lincoln cents for 50 years!

    @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.
     
    Arkos likes this.
  14. Arkos

    Arkos Member

    Thanks so much everyone!
     
    Chuck_A, masterswimmer and paddyman98 like this.
  15. Cheech9712

    Cheech9712 Every thing is a guess

    Save up and get a soap machine also. Real money maker there
     
  16. green18

    green18 Sweet on Commemorative Coins Supporter

    Don't put the coins in the dryer.......
     
  17. Michael K

    Michael K Well-Known Member

    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.
     
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